DMCI: INFRA SECTOR BULLISH FOR 2019
D.M. Consunji, Inc. (DMCI), the construction arm of DMCI Holdings, Inc., is bullish of the Philippines’ public infrastructure development by 2019 as more companies participate in the Build, Build, Build Program.
“2019 will be a busier year for public construction, and we are very eager to participate in the infrastructure modernization program of the government,” said DMCI President and CEO Jorge A. Consunji.
DMCI announced that it signed P10.6 billion worth of new projects from January to September, raising its total order book by eight percent compared to P26.3 billion during the same period last year.
Building projects accounted for most of the order book at P12 billion, closely followed by infrastructure projects at P11.9 billion. Contracts for plant and utilities breached P2.5 billion while energy projects totalled P2.1 billion.
Among the newly-signed projects of DMCI are Metro Manila Skyway Stage 3 Nagtahan Rampway, Connor of Ortigas & Co., the STRC Apartment Ridge of ST 6747 Resources Corporation, plant expansion projects of JG Summit Petrochemical Corporation, DLS-College of St. Benilde Academic, Sports and Dormitory Buildings, among others.
Meanwhile, major ongoing projects include the Cavite-Laguna Expressway project of MPCALA Holdings, Inc., the Bued Viaduct and Roadway of Private Infra Dev Corporation, the LRT 2 East (Masinag) Stations under the Department of Transportation, Maven at Capitol Commons of Ortigas & Co. and Anchor Grandsuites of Anchor Land Holdings.
“Right now our order book is skewed towards private sector-led construction projects but we expect more big-ticket projects under the Build, Build, Build program to come on-stream within the next few months,” said Consunji.
DMCI recorded a standalone net income of P1.1 billion from January to September, a 21 percent improvement from P896 million during the same period last year.
For the third quarter alone, its standalone net income rose 19 percent year-on-year from P288 million to P343 million.