Philippines: LT group of companies sees expansion in Southeast Asia
Representational Image of the process of making a beverage. Reuters

Philippine's top LT Group of companies is considering of establishing business presence in the Southeast Asia region as part of its long term strategic growth and expansion.

Michaeal Tan, LT Group of companies Director, is looking at their beverage business to expand in the ASEAN region and once it pushes through it will also start constructing manufacturing plants in identified ASEAN countries.

LT Group of Companies have already established its banking presence in the ASEAN region through its Philippine National Bank (PNB) but it is now studying to explore its beverage business, the Asia Brewery, to penetrate the new ASEAN market.

The LT group of companies has earlier forged partnership with Calidad Pascual of Spain and it is looking at the same company for another partnership in the distribution of products in the ASEAN market.

Tan said that their partnership in the Philippines is doing well and once they have covered all areas of the Philippine market, they will consider expanding in the ASEAN region.

For 2017, the LT group of companies is investing USD 199 million for capital expenditures and this is 43 percent higher than last year's capital.

The fresh capital will be used for unit Eton Properties Philippines and the Banking technology improvement of PNB.

The Lucio Tan Group of companies has a diverse investments in wines, tobacco, real estate property and banking businesses.