FPH earmarks over P30B as 2019 capex

LOPEZ-led First Philippine Holdings Corp. (FPH) has set aside more than P30 billion in capital expenditures (capex) this year to fund the expansion needs of its subsidiaries.

On the sidelines of the listed conglomerate’s annual stockholders’ meeting last week, FPH President and Chief Executive Officer Francis Giles Puno said that out of the total allocation, about P12 billion would go to First Gen Corp., another P12 billion to Rockwell Land Corp., a significant chunk to its industrial park business, and the rest to other subsidiaries.