LT Group sets around P11 billion capex for 2018

LT Group, Inc. (LTG) plans to spend P10 billion to P11 billion for capital expenditures in 2018, amid expectations of a better year given the government’s move to address illicit activities in tobacco trade.
The holding company of tycoon Lucio C. Tan, Sr. cited the government’s efforts in addressing underground cigarette firms produced locally and imported as finished goods, which it said has given its tobacco business a level playing field.
“We’re still hopeful that enforcement will continue, and that government could put a lid on these illegal and illicit activities. Enforcement is continuing, I think the secretary of finance said that although numerous but volume is not as big as previous years,” LTG President Michael G. Tan said in a press briefing in Century Park Hotel in Manila on Tuesday, May 8. — Arra B. Francia