By James A. Loyola
Alliance Global Group, Inc. (AGI), the flagship of tycoon Andrew Tan, is accelerating its innovation and digital transformation strategies, as the conglomerate adapts to changes under the “new reality.”
“This pandemic is accelerating our digitalization efforts across our businesses. These involve investments in e-commerce applications, interactive customer service management, and contactless online transactions, among others,” said AGI Chief Executive Officer Kevin L. Tan.
He noted that, “This should help us navigate the business environment and provide our customers with the enhanced services they need under the new reality.”
Tan said AGI remains optimistic that it can hurdle the challenges brought about by the coronavirus pandemic.
It has varied interests spanning real estate developments through property giant Megaworld Corporation; leisure, entertainment and hospitality through Travellers International Hotel Group, Inc.; spirits manufacturing through Emperador Inc.; quick service restaurants through Golden Arches Development Corporation (GADC), popularly known as McDonald’s Philippines; and infrastructure developments through Infracorp.
Last year, AGI reported a record profit of P27.1 billion, reflecting a growth of 15 percent from P23.7 billion in 2018.
This came on the back of a 15 percent improvement in consolidated revenues to P180 billion from P156.8 billion the year before.
“Our much-improved performance last year has placed the AGI Group on a strong and healthy financial footing that served us well during this time of the coronavirus pandemic,” said Tan.
AGI also ended 2019 with a consolidated net debt-to-equity ratio of 49 percent, among the lowest gearing in the industry.
“This has also allowed the AGI Group to quickly respond to the fight against the COVID-19 pandemic where we have released a total of P1.1-billion in donations and financial assistance to various institutions, local government units (LGUs), hospitals, and other partner beneficiaries,” added Tan.