MacroAsia investing P6 B in 3 years

MANILA, Philippines — Lucio Tan’s MacroAsia Corp. is spending P6 billion over the next three years to support expansion of its businesses locally and possibly make its first venture abroad.

“The approved capex is P6 billion, but that is split over three years because there are projects that will spill over a three-year period,” MacroAsia chief financial officer Amador Sendin told The STAR in an interview.

Sendin said the listed aviation services company would spend about P1.5 billion for its various subsidiaries this year, higher than the close to P1 billion investment last year.

Of the P6 billion allocation over the next three years, Sendin said the biggest portion would be used for its economic zone in Cebu. 

The company in October last year received the green light from Malacañang to designate a five-hectare property within the Mactan Cebu International Airport as a special economic zone.

The property is now called the MacroAsia Cebu Special Ecozone.

Sendin said bulk of MacroAsia’s three-year capex would also go to the group’s various water and aviation projects.

“We have water projects also that is currently ongoing. We have two projects in Cavite, a bulk water supply project in Maragondon and we are currently expanding in Naic. We’re also looking at a wastewater startup project in Cavite,” he said.

MacroAsia is also in the process of studying an overseas expansion plan, as many of its specialist ground handling staff are being requested for services in some airports in Asia which are in dire need of foreign airport workers.

MacroAsia president and chief operating officer Joseph Chua said the company expects its maiden foreign venture to materialize by the second half.

“We want to capitalize on the fact that we have well-trained Filipinos like mechanics and ground handlers. So we’re talking to some countries where they’re running short of people,” Chua said.

Since March 16, MacroAsia has been designated as the preferred ground handler for Philippine Airlines and PALEx in Manila and Mactan, Cebu, involving activities related to passenger services, ramp handling, and cargo, among others.

With the development, the company is expecting a 196 percent increase in flight handling activities for PAL, compared to the services it has been rendering to the flag carrier in 2018. 

Though MacroAsia has already been servicing PAL and PALEx in previous years, the company said these airlines have been using other providers in the Philippines for some segments of their requirements. 

Aside from PAL, MacroAsia currently handles an array of foreign airlines, and is the only groundhandling company with presence in 32 airport stations in the country.