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Andrew Tan's Alliance Global to keep focus on core businesses


Instead of diversifying into new industries, Alliance Global Group Inc., the listed holding firm of real estate tycoon Andrew Tan, will keep its focus its core business to grow its topline and bottomline, its top executives said.
 
“Rather than diversifying into other businesses, which may not be within our core competence, we will focus our energy on strengthening and growing our existing  businesses," president Kingson U. Sian said in a disclosure to the Philippine Stock Exchange Tuesday.
 
Alliance Global has interests in real estate under Megaworld Corp., liquor under Emperador Inc., gaming under Travellers International Hotel Group Inc., and quick service restaurant (QSR) under Golden Arches Development Corp, the exclusive rights holder to operate McDonald’s in the Philippines.
 
“As we look into the future, we believe that we are armed with strong brands that have weathered diverse challenges to come up better and even stronger," chairman Andrew L. Tan said in his message in the company's annual report.
 
Emperador expects to double its net income by 2016-17 from P5.8 billion last year.
 
Megaworld is developing projects in Boracay, Cebu, Ilolio, and Davao to diversify its real estate sales. 
 
Integrated resort and casino Resorts World Manila – operated by Travellers International – is undergoing a $650 million expansion to double the number of hotel rooms and gaming capacity by 2017.
 
Meanwhile, the Golden Arches is targeting to end the year with 500 McDonald's stores from 422 as of end-June. – Danessa O. Rivera/VS, GMA News
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