Nathalie Malapitan

Tycoons satisfied with business environment

April 24, 2017

MANILA, Philippines - Some of the countrys most influential business tycoons have expressed
satisfaction with the business environment under the Duterte administration, but underscored the
urgency of speeding up the implementation of proposed infrastructure projects.

Ports tycoon Enrique Razon said the prevailing environment is conducive for business.

Its pretty good. No complaints, said Razon, who owns and operates global port operator International
Container Terminal Services Inc. (ICTSI) and Solaire Resort & Casino.

He said that if the governments plan to usher in the so-called golden age of infrastructure pushes
through, it would be good for the country.

If they can execute that in their time frame, then that is very good for the country. Theres no downside
to that. Government spending always a boost to the economy. Im optimistic on the players that will
be executing the projects, Razon said.

Asked if he would be interested in joining the governments unsolicited proposal framework, Razon said
that if there is something that is related to his businesses, he could consider it.

Similarly, Fernando Zobel de Ayala, president and chairman of Ayala Corp. said the countrys oldest
conglomerate is bullish on the countrys business climate.

If you look at the amount of capex we are looking at for this year, its an indication of how bullish we
are on the economy. The results are good. We are bullish about the economy. We are expanding at a
quick rate, Zobel said.

Ayala Corp. is pouring in P185 billion in capital expenditures this year, higher than the 13 percent
allocated in 2016 to support its real estate, telecommunications and water segments as well as to power
up its emerging businesses.

The companys core businesses are Ayala Land, BPI, Globe Telecom, Manila Water and IMI, while new
businesses launched in recent years include AC Energy, AC Infra, AC Education, AC Industrials and AC
Automotive.

However, Zobel emphasized the need for new infrastructure.

The only area we really need to emphasize is we need to move fast on infrastructure. We all how know
badly needed it is and we all know that these projects can be solved. The projects that have come online
recently have already made a huge difference. The problems can be solved, we just need to get moving
on the projects themselves, Zobel said.

Ayala, through AC Infrastructure Holdings Corp. is hitching a ride on the governments infrastructure
push with three big-ticket unsolicited proposals including the P25 billion, 8.6-kilometer elevated tollroad
from Sta. Mesa in Manila to the SM Mall of Asia in Pasay and an infrastructure project in Mindanao,
company president and CEO Jose Rene Almendras said.
D.M. Consunji Inc. (DMCI), the construction arm of engineering conglomerate DMCI Holdings, is likewise
looking for possible technology partners to complement their construction expertise as they prepare for
the governments infrastructure program.

The Duterte administration vowed to usher in what it touts as the golden age of infrastructure, touted
as the biggest infrastructure push in Philippine history. The plan is to boost
state spending on infrastructure to seven percent of the countrys GDP from five percent at present
which would also be a major catalyst for growth.

DMCI President Jorge A. Consunji said they are in talks with potential partners from major players in
Asia, Europe and the Middle East who can add value in terms of efficiency, cost design and
methodology.

Source: http://www.philstar.com/business/2017/04/24/1693170/tycoons-satisfied-business-
environment