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Monday, September 27, 2021
CEBU

LT Group: 2021 will be tougher, but better than 2020

THE slow opening up of the economy in 2021 should bode well for all businesses in general, listed firm LT Group Inc. president and chief operating officer Michael Tan said.

LTG expects the demand for consumer goods, those of Tanduay Distillers Inc. and Asia Brewery Inc. to show some volume growth or at least remain steady. But the volume of PMFTC Inc.’s products might still be impacted, as price increases are needed to pass on the annual increase in excise taxes, the last of which was in October 2020.

Philippine National Bank will see some more non-performing loans booked as Bayanihan 1 and 2 that provided a grace period for borrowers ended in 2020, but a better economy should pave the way for the need for more loans. Eton Properties Philippines Inc. with most of its leasing portfolio in office space will not be as affected as other developers who are more reliant on retail space. (PR)


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