InterAksyon.com means BUSINESS
MANILA - Lopez Holdings Inc. is not in a hurry to make new investments despite settling its debt problems.
Salvador Tirona, Lopez Holdings president, said the company will focus on strengthening its core businesses and assist in their respective expansion plans.
"I think after everything, what we have learned is to stick to our core businesses where we have the competence which is media and power," he said.
Expansion will be carried out at the operating company levels of ABS-CBN Corp. and First Philippine Holdings Corp.
Lopez Holdings cut its debt to $25 million, $23 million of which has been restructured, after obligations reached a high of $560 million when it declared a standstill in 2002.
Following the completion of the tender offer in September, the firm’s board approved its first cash dividend at 10 centavos per share since becoming a publicly listed company in 1993.
"We hope to sustain that. That's why we have to strengthen the operating companies," Tirona said.
InterAksyon.com means BUSINESS
BUSINESS NEWS
