AGI cuts capex by 8% to ₱63B amid economic challenges

Alliance Global Group Inc., headed by tycoon Dr. Andrew Tan, is reducing its capital expenditures for 2025 to ₱63 billion, an eight percent decrease from the previous year.

The company attributes this decision to cautious optimism amid economic challenges and plans to pursue cost efficiency measures while exploring opportunities in both domestic and global markets.

Megaworld Corporation will allocate ₱50 billion for capital spending in 2025, a slight reduction from ₱51 billion last year, while Emperador Inc. will cut its spending by half to ₱4 billion.

AGI reported a 12 percent decline in net income to ₱17.2 billion in 2024 compared to ₱19.6 billion in the previous year, primarily due to Emperador's performance.

Despite this, AGI saw a six percent increase in consolidated revenues to ₱223.6 billion for 2024, with key growth coming from Megaworld and Golden Arches Development Corporation.