Manila, Philippines, September 19, 2017 — Alliance Global Group, Inc. (AGI), the investment holding company of tycoon Dr. Andrew L. Tan, has announced a twoyear share repurchase program of up to P5 billion.

“The Board of Alliance Global has approved a share buyback of up to P5 billion over a 24-month period,” said Kingson U. Sian, president, AGI. “We are undertaking this corporate action because we believe that our shares are grossly undervalued. Our Group has been consistently profitable, with attractive growth prospects, and enjoys strong brand equity and therefore views this exercise as a means to enhance shareholder value over time.”

AGI posted new levels of revenues and core net profit in 2016 of P139.6 billion and P22.8 billion, respectively. Consolidated EBITDA grew at a healthy rate of 9% year-on-year to P38.8 billion, while attributable net income rose another 6% to P14.8 billion.

“AGI continues to build on its strength with a business model that is time-tested and stress-tested,” according to Sian.

Megaworld Corporation, the country’ biggest developer and landlord of offices catering to the BPO industry, targets to bring its rental income from P10 billion in 2016 to P20 billion by 2020 when its combined office and commercial gross leasable area would have almost doubled to 2 million sqm from 1.1 million sqm currently. A market leader in township development, Megaworld is also looking to step up its residential project launches throughout the country, taking advantage of renewed brisk housing demand. In the first semester this year, the company launched P18 billion worth of projects which included Bayshore Residential Resort and Grand Westside Hotel in Westside City, San Antonio Residences in Makati and Albany in McKinley West.

Emperador, Inc., the world’s largest brandy maker, continues to benefit from its recent international forays and its highly-integrated operations which allowed for better operating margins. To maintain its leadership in the domestic liquor market, the company successfully marketed its Emperador Brandy 350-ml, Andy Cola (a ready-to-drink mix of cola and home-grown Andy Player whisky) and Hotshots Brandy (“the hottest ever”) aimed at the millennials. Whyte and Mackay, the 5th largest Scotch whisky manufacturer in the world, has widened its market penetration in Asia, the United States and travel retail through its singlemalt Scotch whisky brands The Dalmore and Jura. Scotch whisky operations contributed 28% of Emperador’s 2016 revenues.

Travellers International Hotel Group, Inc. looks forward to the completion of its Phase 3 expansion program at Resorts World Manila (RWM) which will add well known international hotel brands Hilton, Sheraton and Maxims by 2018. Together with Marriott and Holiday Inn, this should bring RWM’s total hotel room capacity to about 2,400 keys, reinforcing its position as country’s largest integrated resort with the most diversified hotel offerings. It should also complement the Marriott Grand Ballroom which is now the preferred destination for Meetings, Incentives, Conventions and Exhibitions.

Golden Arches Development Corporation (GADC) is poised to sustain its strong growth trajectory, helped by the steady rise in systemwide sales as it captures the improvement in consumer spending. It remains committed to further expanding its number of McDonald’s stores throughout the country, a move that has also brought about economies of scale, further enhancing its operating margins.

AGI has allocated capex budget of about P80bn this year, of which 75% will be spent for Megaworld’s residential development and the construction of office and commercial projects. Over 10% will fund Travellers’ ongoing expansion program at RWM, while the balance is intended for Emperador maintenance capex and GADC’s store rollout.