First Philippine Holdings Corporation , the investment arm of the Lopez Group, has obtained P2-billion loan from BDO Unibank to beef up its capital expenditure budget for the coming year.
For 2021, FPHC more than tripled its capital expenditures budget to P50 billion from the P15 billion actually spent in 2020. About P15 billion would be allotted for FPHC’s real estate units with Rockwell Land Corporation getting a P14 billion budget this year while First Philippine Industrial Park will be spending P1 billion. A total of P9 billion is being allocated for FPHC’s other businesses.
“As such, during the last quarter of 2020, the operating results of some of our companies were at par or even better than their results from pre-COVID periods,” he noted.
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