Maybank upbeat about Ayala Corp prospects

By Brix Lelis

Jan 23, 2024 12:25 am

AYALA Corp. is expected to record a 13-percent year-on-year net income growth this year on the back of subsidiary Ayala Land Inc.'s (ALI) performance, Maybank Investment Banking Group said Monday.

In a report, Maybank said the country's oldest conglomerate would likely deliver an 18-percent year-on-year increase in core net income in 2024 that 'should be largely driven by its property arm.'

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