By James A. Loyola
San Miguel Corporation (SMC) is optimistic of a recovery while committing to push through with all of its major projects in a bid to help jumpstart the local economy.
During the firm’s annual stockholders’ meeting, SMC President Ramon S. Ang said they are determined to help the wider economy recover from the effects of the pandemic by pouring resources into creating jobs, helping the poor, building resilience among vulnerable sectors and increasing the nation’s capacity to test in order to save more lives.
Ang expressed confidence on the economy’s ability to recover strong, even as he acknowledged the need for companies to adapt to changes in the business environment.
“We are still dealing with a crisis today. Until there’s a cure for COVID-19, we cannot let our guard down. Nevertheless, we are determined to work smart and safe and do our part to help our economy, our country and people during this critical time,” he said.
Ang added that, “The best way we can do this is to continue, and not scale back, on investments in infrastructure and capacity expansion, as well as provide support for the poor, and other key sectors such as agriculture and the health industry.”
He noted that all of SMC’s ongoing major projects, including the construction of new manufacturing facilities in various regions nationwide and major infrastructure projects such expressways, railways, and its proposed airport in Bulacan, will continue.
“Before the pandemic, and even more so now, we believe these projects will be key to making more Filipinos resilient, by providing jobs and boosting local economies, which in turn, will provide livelihood opportunities,” Ang said.
Among the new facilities SMC is completing are 12 feed mills; expanded poultry farms and a poultry processing facility; new breweries in Cagayan de Oro and Sta. Rosa in Laguna; the new unit of Masinloc Power Plant; and ongoing infrastructure projects such as the Skyway 3, Skyway Extension, Skyway 4, MRT-7, and TPLEX.
SMC, which reported much lower results in the first quarter of the year due to the lockdown and virtual shutdown of all economic activities, is looking forward to a recovery.
“Our major businesses are well-positioned to make recoveries, especially with the lifting of restrictions starting June. Since May, we have been seeing a recovery. We’ve lost no time in working to regain our position and doubling our efforts to serve consumers,” Ang said.
He added that, “In terms of operations, we were able to continue essential activities throughout the quarantine—we ensured food, power, fuel supply, and the continuous running of expressways. We were also able to launch new ways to make our products available in more channels. These will be part of our next normal.”