MEGAWIDE Construction Corp. is allocating about P1.8 billion in capital expenditures (capex) this year, with the property segment to get half the amount and the rest to fund construction and transportation projects.
MEGAWIDE Construction Corp. is allocating about P1.8 billion in capital expenditures this year, with the property segment to get half the amount and the rest to fund construction and transportation projects.'Not including the power , roughly close to P2 billion, around P1.8 billion,' Megawide Chairman and CEO Edgar Saavedra told reporters last week when asked how much the company was setting aside for capital spending this year.
PH1 World Developers was reported last year to be eyeing a 2025 or 2026 initial public offering, but Saavedra said that plans had been postponed due to current market challenges.A listing might again be considered in 'two to three years' time,' he added.Despite market challenges, Saavedra expects Megawide's revenue from construction to remain stable and the bottom line to improve due to the completion of pre-pandemic contracts.
Allots P1.8B For 2025 Capital Spending
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