Ayalas pump in over P500B to support economy over past 5 years
Conglomerate Ayala Corp. of Bilyonaryos Jaime Augusto and Fernando Zobel de Ayala has invested over P500 billion in capital expenditures in its various businesses over the past five years to support the country?s economic growth.
Fernando, who is president of Ayala Corp., said the conglomerate has been a major contributor to the economic and social development agenda of the Philippines not only in terms of investments but also in terms of taxes paid and employment generated.
Zobel said the conglomerate paid P170 billion in aggregate corporate taxes to the national government and has given direct and indirect employment to 90,000 Filipinos during the five-year period.
Today, the conglomerate continues to show its confidence to the Philippine economy by earmarking P174 billion in total capital expenditures across the group in 2016
The group?s aggressive capital spending program over the past five years however has rewarded the company with tremendous growth in net income and revenues.
As the conglomerate concludes its five-year growth plan, the group was able to reach its net income target a year earlier than planned, attaining P22.3 billion in 2015, a nearly threefold increase from its level four years ago.