LT Group reviews 2026 capex amid economic uncertainty from fuel crisis

Tycoon Lucio Tan Sr.’s conglomerate, LT Group Inc., is reviewing its capital expenditure (capex) plan for this year amid economic uncertainties stemming from the Middle East fuel crisis.

At a press briefing in Makati City on Wednesday, LT Group chief financial officer Jose Gabriel Olives said the company had spent P6 billion to P8 billion in the past five years.

Olives said LT Group was “probably expecting a bit more” in terms of capex this year, “but in the light of everything that's happening, it's currently being reviewed so that we may go back to our historical numbers.”

For his part, LT Group president Lucio Tan III said that this year, “we will continue strengthening our core businesses, advancing cross-company initiatives, accelerating digital transformation, deepening sustainability integration and strengthening our talent pipeline.”

“Our focus remains on disciplined execution, prudent risk management and delivering sustainable, long-term value,” Tan said.

In 2025, LT Group recorded consolidated revenues of P132.78 billion and attributable net income of P30.98 billion, a 7% increase from 2024.

Businesses under LT Group’s umbrella include the Philippine National Bank, Fortune Tobacco Corporation and Phillip Morris-Fortune Tobacco Corporation, Tanduay Distillers Inc. (TDI), Asia Brewery Inc. (ABI), and Eton Properties Philippines Inc. –NB, GMA News