Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  PHILIPPINE STOCK EXCHANGE, INC.  >  JG Summit Holdings, Inc.    JGS   PHY444251177

News SummaryMost relevantAll newsSector newsTweets 

JG Summit Holdings, Inc. : JG Summit : Expect Naptha Cracker to Generate $1 Billion in Annual Sales

share with twitter share with LinkedIn share with facebook
share via e-mail
06/28/2012 | 12:30pm CET
   By Rhea Sandique-Carlos 

MANILA--Philippine conglomerate JG Summit Holdings Inc. (JGS.PH) said Thursday that it expects to generate up to $1 billion in annual sales from its naphtha cracker plant project, which is due for completion in the last quarter of 2013.

"We believe we are on schedule and on budget," JG Summit president and chief operating officer Lance Gokongwei told reporters on the sidelines of the company's annual meeting.

The project, once completed, is expected to supply two-thirds of the Philippines's total demand for polypropylene and polyethylene resins--raw materials in the production of plastics.

Some of the plant's output will be exported to China and Vietnam, Mr. Gokongwei said.

The plant will have an annual capacity of 320,000 metric tons of polypropylene and will add 110,000 tons to JG Summit's 200,000-ton-a-year polyethylene output capacity .

The project is expected to expected to cost between $800 million and $900 million. The conglomerate has invested around $300 million so far, Mr. Gokongwei said.

To sustain the project's financing requirement, the company is planning to refinance $300 million worth of bonds that are due to mature next January, he added.

"We will look for a window sometime in the third or fourth quarter," he said, noting that the timing will be opportune, as the bond carries an interest rate of 8%, while current borrowing costs are much lower.

Write to Rhea Sandique-Carlos at rhea.sandique-carlos@dowjones.com and Cris Larano at cris.larano@dowjones.com

share with twitter share with LinkedIn share with facebook
share via e-mail
2016DJJG SUMMIT : Building New Petrochemical Plants, Expanding Naphtha Cracker
2016DJJG SUMMIT : Nine-Month Net Profit PHP23.25 Billion, Up 44% On Year
2016DJUNIVERSAL ROBINA : Raises PHP4.38 Billion via Shares Sale
2016DJJG Summit 1st-Half Net Profit PHP17.53 Billion, Up 31% on Year
2016DJCEBU AIR : Says Cebu Pacific Flew More Than 10 Million Passengers in First Half
2016 JG SUMMIT HOLDINGS, INC. : ex-dividend day for annual dividend
2016DJJG Summit Says Capex to Recover in 2017
2016DJUNIVERSAL ROBINA : 1st Half Net Profit Rose 29% to PHP8.39 Billion
2016DJJG Summit Cuts 2016 Capex by Almost 17% to PHP41.3 Billion
2016 ROBINSONS LAND : Toyo Tires bags FBAA 39th Conference title
More news
Sector news : Food Processing - NEC
11:21a ARCHER DANIELS MIDLAND : Overheu to step down as CEO of Dutch grain trader Nider..
12:41aDJUnilever Launches Review After Rejecting Kraft Heinz Offer--3rd Update
02/22DJUnilever Launches Review After Rejecting Kraft Heinz Offer--2nd Update
02/22DJUnilever Launches Review After Rejecting Kraft Heinz Offer--Update
02/22DJCorrection to Unilever Launches Strategic Review story
More sector news : Food Processing - NEC
News from SeekingAlpha
2016 UNIVERSAL ROBINA : Join The Short Bandwagon And Go With The Share Price Slide
Financials ( PHP)
Sales 2016 235 891 M
EBIT 2016 50 378 M
Net income 2016 31 011 M
Debt 2016 180 695 M
Yield 2016 0,39%
P/E ratio 2016 18,81
P/E ratio 2017 17,60
EV / Sales 2016 3,10x
EV / Sales 2017 2,72x
Capitalization 551 539 M
More Financials
Income Statement Evolution
More Financials
Mean consensus UNDERPERFORM
Number of Analysts 3
Average target price 75,1  PHP
Spread / Average Target -2,5%
Consensus details
EPS Revisions
More Estimates Revisions
James L. Go Executive Chairman & Chief Executive Officer
Lance Yu Gokongwei President, COO & Executive Director
Johnson Robert G. Go Non-Executive Director
Lily G. Ngochua Director
Patrick Henry C. Go Executive Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
NESTLE SA0.48%228 806
KRAFT HEINZ CO8.65%113 644
DANONE1.15%43 156
GENERAL MILLS, INC.-1.21%35 143
More Results