Joseph Chua is the chief operating officer and president of MacroAsia Corporation.
His company is an aviation-related services firm that Chinese-Filipino tycoon Lucio Tan and his family own.
MacroAsia has various business engagements, including aircraft maintenance, catering, overhaul and repair, water, and ground handling.
As a component of the Tan family business empire, Chua confirmed that MacroAsia possesses a 40-percent share in the Sangley Point International Airport (SPIA) development.
The firm is in collaboration with China-based China Communications Construction Company Limited (CCCC).
The latter owns 60 percent of the share in the SPIA consortium. Chua cited that MacroAsia needs extra financial support in SPIA development.
He affirmed that, at this time, his business organization is yet to settle the manner that it will employ to accumulate capital.
They will use this additional funding for their part in the Cavite airport initiative.
The MacroAsia executive said that the capital expenditure is quite huge.
He pointed out that they do not desire to issue shares for the reason that it is dilutive.
Chua relayed that, when one looks at their financial statement, they are under-leveraged.
Hence, they would go into bonds and debts, he said.
To get the financial muscle they need, Chua relayed that they would coordinate with the other companies within the Tan family-led conglomerate.
He said that his supervisors and other shareholders in the businesses would have to give the green light to this possibility.
LT Group Incorporated is one of the gigantic Philippines-based conglomerates.
Philippine daily newspaper Philippine Star reported that it has various businesses in multiple sectors.
For banking, the Tan family administers the Philippine National Bank. Moreover, in the tobacco sector, the group controls Philip Morris Fortune Tobacco Corporation or PMFTC.
Tanduay Distillers Incorporated is the liquor business of the Tan clan. Meanwhile, Asia Brewery Incorporated is the family’s beverage venture.
Eton Properties Philippines Incorporated is the property development business of one of the wealthiest families in the Philippines.
Aside from publicly listed MacroAsia, the Tan clan is also behind the flag carrier of the Philippines Philippine Airlines.
Asia’s Emerging Dragon Corporation is also under the Tan family.
This business organization is a component of the group that seeks to refurbish, operate, and enlarge the congested Ninoy Aquino International Airport.
The SPIA is an initiative that comprises the development of an initial interim runway. It possesses a yearly design capacity for 25 million airline customers.
Moreover, the SPIA will include the new Sangley connector bridge and road.
The Cavite provincial government selected MacroAsia and CCCC, awarding it with the $4-billion initial construction phase of the SPIA.
The second phase of the SPIA will involve the expansion of the construction of a second runway.Furthermore, this facility has a yearly design capability for 75 million airport customers.
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