Conglomerates, banks to drive market growth

By Brix Lelis

Dec 07, 2023 12:22 am

CONGLOMERATES as well as banks and property firms will likely continue driving market growth, with fiscal year 2024 earnings projected to rise by 9.1 percent, Maybank Investment Banking Group said on Wednesday.

In a media briefing, Maybank said the strong property and banking earnings of SM Investments Corp. (SMIC) and Ayala Corp., as well as SMIC's retail business, would largely propel growth in the conglomerate sector.

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