ADVERTISEMENT
Manila Bulletin devider Business devider SMC sees stronger growth this year

SMC sees stronger growth this year

Published Jun 15, 2022 02:02 pm

Diversified conglomerate San Miguel Corp. (SMC) is optimistic that its growth will be much stronger this year compared to 2021 on the back of the improvements in the Covid situation.

“With lesser lockdown and (now being) more knowledgeable about the Covid problem, I think the company with definitely grow much, much stronger than last year,” said SMC President Ramon S. Ang during the firm’s annual stockholders’ meeting.

88648

SMC’s consolidated net income surged 120 percent to P48.2 billion last year. The company’s growth momentum carried through the first quarter of 2022, with recurring net income improving 3 percent to to P13.9 billion despite a lockdown in January.

Ang vowed that the company would continue to focus its investments in the Philippines in the next six years and beyond as part of its continuing commitment to lead in nation-building and create economic opportunities to uplift the lives of many Filipinos.

SMC reported robust growth throughout 2021 and the first-quarter of the year, including the full recovery of some of its businesses.

SMC President and CEO Ramon S. Ang

Ang said the company would continue to pursue expansion and massive, game-changing projects, to help bring the Philippines to new levels of growth that's viable, inclusive and sustainable.

“There are many projects in various stages of development throughout the San Miguel Group. What is common to all these projects is our stronger push for nation-building, and towards greater sustainability,” he said.

He added that, “In this decade and beyond, each of our new projects will benefit both society and the environment. More than just building infrastructure, it is about creating better opportunities for more Filipinos, while ensuring that future generations will still benefit from the natural resources we enjoy today.” Among the projects that SMC is undertaking today are the New Manila International Airport--touted to be the country’s largest and most modern international gateway, and the Mass Rail Transit 7 (MRT-7) project that will connect Metro Manila and Quezon City to Bulacan.

It is also undertaking the South Luzon Expressway TR4 project, which will extend the SLEX from Sto, Tomas, Batangas to Lucena, Quezon province, and the upcoming SLEX TR5 project from Lucena all the way to Matnog, Sorsogon in the Bicol Region.

SMC is also building 31 new Battery Energy Storage System facilities nationwide to ensure stable and reliable electrification to more provinces nationwide. This is also seen to complement its planned additional investments in renewable energy.

It is also investing in new baseload capacities utilizing natural gas to ensure the growing power needs of our developing economy is met over the long term.

SMC also continues to expand its Food manufacturing capacities in various regions nationwide, and eyes to build agro-industrial and special economic zones to drive regional growth and spur job creation.

“Our country has really come a long way, but we know there is still a lot of work to be done. We are eager to continue doing our part, and devote our efforts and resources towards projects and initiatives that will deliver transformative and multi-generational benefits at national, regional, and local levels,” Ang said.

He emphasized that virtually all of SMC’s businesses stand to play a key role in driving post-pandemic economic growth.

“The continued expansion of our Food and Beverage businesses will help spur regional growth by creating thousands of new jobs and boosting the agriculture sector and local industries,” Ang said.

He noted that, “our thrust to utilize the latest and cleanest technologies in power generation, including the rollout of our Battery Energy Storage Systems (BESS) facilities, will stabilize the supply of electricity throughout the country--bringing reliable power even to far-off areas. This will also provide provinces an equal chance at attracting investors.” Meanwhile, Ang said “Multi-modal transportation options are likewise key to unlocking our country’s true economic potential. They will play a significant role in bringing us closer to developed nation status.”

Related Tags

Ramon S. Ang San Miguel Corporation
ADVERTISEMENT
.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1561_widget.title }}

{{ item.title }}
.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1562_widget.title }}

{{ item.title }}
.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1563_widget.title }}

{{ item.title }}

{{ articles_filter_1564_widget.title }}

{{ item.title }}
.mb-article-details { position: relative; } .mb-article-details .article-body-preview, .mb-article-details .article-body-summary{ font-size: 17px; line-height: 30px; font-family: "Libre Caslon Text", serif; color: #000; } .mb-article-details .article-body-preview iframe , .mb-article-details .article-body-summary iframe{ width: 100%; margin: auto; } .read-more-background { background: linear-gradient(180deg, color(display-p3 1.000 1.000 1.000 / 0) 13.75%, color(display-p3 1.000 1.000 1.000 / 0.8) 30.79%, color(display-p3 1.000 1.000 1.000) 72.5%); position: absolute; height: 200px; width: 100%; bottom: 0; display: flex; justify-content: center; align-items: center; padding: 0; } .read-more-background a{ color: #000; } .read-more-btn { padding: 17px 45px; font-family: Inter; font-weight: 700; font-size: 18px; line-height: 16px; text-align: center; vertical-align: middle; border: 1px solid black; background-color: white; } .hidden { display: none; }
function initializeAllSwipers() { // Get all hidden inputs with cms_article_id document.querySelectorAll('[id^="cms_article_id_"]').forEach(function (input) { const cmsArticleId = input.value; const articleSelector = '#article-' + cmsArticleId + ' .body_images'; const swiperElement = document.querySelector(articleSelector); if (swiperElement && !swiperElement.classList.contains('swiper-initialized')) { new Swiper(articleSelector, { loop: true, pagination: false, navigation: { nextEl: '#article-' + cmsArticleId + ' .swiper-button-next', prevEl: '#article-' + cmsArticleId + ' .swiper-button-prev', }, }); } }); } setTimeout(initializeAllSwipers, 3000); const intersectionObserver = new IntersectionObserver( (entries) => { entries.forEach((entry) => { if (entry.isIntersecting) { const newUrl = entry.target.getAttribute("data-url"); if (newUrl) { history.pushState(null, null, newUrl); let article = entry.target; // Extract metadata const author = article.querySelector('.author-section').textContent.replace('By', '').trim(); const section = article.querySelector('.section-info ').textContent.replace(' ', ' '); const title = article.querySelector('.article-title h1').textContent; // Parse URL for Chartbeat path format const parsedUrl = new URL(newUrl, window.location.origin); const cleanUrl = parsedUrl.host + parsedUrl.pathname; // Update Chartbeat configuration if (typeof window._sf_async_config !== 'undefined') { window._sf_async_config.path = cleanUrl; window._sf_async_config.sections = section; window._sf_async_config.authors = author; } // Track virtual page view with Chartbeat if (typeof pSUPERFLY !== 'undefined' && typeof pSUPERFLY.virtualPage === 'function') { try { pSUPERFLY.virtualPage({ path: cleanUrl, title: title, sections: section, authors: author }); } catch (error) { console.error('ping error', error); } } // Optional: Update document title if (title && title !== document.title) { document.title = title; } } } }); }, { threshold: 0.1 } ); function showArticleBody(button) { const article = button.closest("article"); const summary = article.querySelector(".article-body-summary"); const body = article.querySelector(".article-body-preview"); const readMoreSection = article.querySelector(".read-more-background"); // Hide summary and read-more section summary.style.display = "none"; readMoreSection.style.display = "none"; // Show the full article body body.classList.remove("hidden"); } document.addEventListener("DOMContentLoaded", () => { let loadCount = 0; // Track how many times articles are loaded const offset = [1, 2, 3, 4, 5, 6, 7, 8, 9, 10]; // Offset values const currentUrl = window.location.pathname.substring(1); let isLoading = false; // Prevent multiple calls if (!currentUrl) { console.log("Current URL is invalid."); return; } const sentinel = document.getElementById("load-more-sentinel"); if (!sentinel) { console.log("Sentinel element not found."); return; } function isSentinelVisible() { const rect = sentinel.getBoundingClientRect(); return ( rect.top < window.innerHeight && rect.bottom >= 0 ); } function onScroll() { if (isLoading) return; if (isSentinelVisible()) { if (loadCount >= offset.length) { console.log("Maximum load attempts reached."); window.removeEventListener("scroll", onScroll); return; } isLoading = true; const currentOffset = offset[loadCount]; window.loadMoreItems().then(() => { let article = document.querySelector('#widget_1690 > div:nth-last-of-type(2) article'); intersectionObserver.observe(article) loadCount++; }).catch(error => { console.error("Error loading more items:", error); }).finally(() => { isLoading = false; }); } } window.addEventListener("scroll", onScroll); });
Join Our Newsletters

Sign up by email to receive news.

© 2025 Manila Bulletin The Nation's Leading Newspaper. All Rights Reserved.