Conglomerates SM Investments Corp. and GT Capital Holdings Inc. are bullish about second-half prospects as core businesses are expected to
SMIC head of investor relations Timothy Daniels said in an investor conference the conglomerate, which has investments in retail, property and banking sectors, historically gets bulk of earnings in the second half of the year because of holiday spending in the fourth quarter.
“Fundamental story is still good in the Philippines. There are clearly a little more softness in GDP [gross domestic product[ and in inflation numbers. But if we look at overall growth story, we still believe in the Philippines growth and its underlying story,” Daniels said.
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