The conglomerate’s net income attributable to shareholders fell 63 percent to P3 billion in the first half, compared to P8.1 billion in the same period last year as the outbreak and the lockdowns disrupted its business operations.
The conglomerate, however, said it was “well-funded” due to the P30.1-billion sell-down of interest in its hospital business at the end of 2019 and the sale earlier this year of a 19.2 percent interest in the LRT-1 project for P3 billion. Lim said the company is doing what it can to help restart the economy by continuing with its construction projects, but admitted that "the pace of our construction is being affected by the delivery of right-of-way as well as the usual red tape of getting permits and approvals from government."
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