GT Capital says not betting on gambling | ABS-CBN
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GT Capital says not betting on gambling
MANILA — GT Capital Holdings Inc. is exploring new industries to expand, but there is one sector it will not enter or at least will avoid and that is gaming.
MANILA — GT Capital Holdings Inc. is exploring new industries to expand, but there is one sector it will not enter or at least will avoid and that is gaming.
At the sideline of InvestPH Conference, GT Capital Chief Financial Officer George Uy-Tioco, Jr. said gambling is something they will not venture into as there are moral issues.
At the sideline of InvestPH Conference, GT Capital Chief Financial Officer George Uy-Tioco, Jr. said gambling is something they will not venture into as there are moral issues.
“We would avoid gaming. That’s an area we prefer to avoid. It’s not a sector that we like. There’s a morality aspect to it that we would prefer to avoid,” he told reporters.
“We would avoid gaming. That’s an area we prefer to avoid. It’s not a sector that we like. There’s a morality aspect to it that we would prefer to avoid,” he told reporters.
He added, “At the end of the day, you have to be able to sleep well and wake up in the morning and know you contributed to something well.”
He added, “At the end of the day, you have to be able to sleep well and wake up in the morning and know you contributed to something well.”
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Uy-Tioco however said gaming would be better for other companies to do who have the right expertise for the sector. “For other people, it works well for them, for us it’s just not something that we would like to take a look at. Things like that we would avoid. I think anything that has to do with gaming, gambling, in general what would be considered to be vices are things we would try to stir away from.”
Uy-Tioco however said gaming would be better for other companies to do who have the right expertise for the sector. “For other people, it works well for them, for us it’s just not something that we would like to take a look at. Things like that we would avoid. I think anything that has to do with gaming, gambling, in general what would be considered to be vices are things we would try to stir away from.”
GT Capital is instead eyeing to expand its presence or invest in new sectors this year and the next. It did not disclose which industries, but Uy-Tioco said they still set their sights in healthcare, renewable energy, education, data centers.
GT Capital is instead eyeing to expand its presence or invest in new sectors this year and the next. It did not disclose which industries, but Uy-Tioco said they still set their sights in healthcare, renewable energy, education, data centers.
“It’s very fragmented segments. The margins are actually very good. You know there’s a need for it,” he said.
“It’s very fragmented segments. The margins are actually very good. You know there’s a need for it,” he said.
GT Capital is the parent firm of Metrobank, Toyota Motor Philippines, AXA Philippines, Federal Land, and it also has a stake in Metro Pacific Investments Corporation (MPIC).
GT Capital is the parent firm of Metrobank, Toyota Motor Philippines, AXA Philippines, Federal Land, and it also has a stake in Metro Pacific Investments Corporation (MPIC).
UY-Tioco added that they are not looking at buying a part of MPIC’s stake in the Metro Pacific Tollways Corporation. MPIC earlier said it is planning to sell 20% of its stake in the toll unit.
UY-Tioco added that they are not looking at buying a part of MPIC’s stake in the Metro Pacific Tollways Corporation. MPIC earlier said it is planning to sell 20% of its stake in the toll unit.
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But Uy-Tioco said, “We are already in the parent level. At the moment, we don’t see a specific need to go specifically to the subsidiaries.”
But Uy-Tioco said, “We are already in the parent level. At the moment, we don’t see a specific need to go specifically to the subsidiaries.”
He is also confident of the Philippine economy this year amid external factors and the political noise currently affecting the country. He said investor confident remains good and he does not see its foreign partners leaving the country just because of the political noise.
He is also confident of the Philippine economy this year amid external factors and the political noise currently affecting the country. He said investor confident remains good and he does not see its foreign partners leaving the country just because of the political noise.
“Political risks are there, but if you want to do business in the Philippines, that’s just part of doing business, be able to sift through the noise and just focus on what you know is fundamental that is the case for you to be able to do your business and do your business well.”
“Political risks are there, but if you want to do business in the Philippines, that’s just part of doing business, be able to sift through the noise and just focus on what you know is fundamental that is the case for you to be able to do your business and do your business well.”
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