Fernando Zobel de Ayala, chief executive officer of Ayala Corp., at the Bloomberg New Economy Forum in Singapore, on Friday, Nov. 19, 2021. The New Economy Forum is being organized by Bloomberg Media Group, a division of Bloomberg LP, the parent company of Bloomberg News.
, Bloomberg
(Bloomberg) -- Ayala Corp., the Philippines’ oldest conglomerate, will boost spending by about 29% this year to $5.8 billion, its president and CEO Fernando Zobel said.
Bulk of the spending plan will be for units Ayala Land Inc., Globe Telecom Inc. and AC Energy Corp., Zobel said in an interview with Bloomberg Television’s Haslinda Amin and Rishaad Salamat. The group’s capital spending was about $4.5 billion last year, he said.
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