DMCI to expand in Vietnam, Myanmar, East Timor
DMCI Holdings Inc. of Bilyonaryo David Consunji is planning to venture overseas in the next five years.
DMCI chairman and president Isidro Consunji said the company is looking at Vietnam, Myanmar and East Timor as possible expansion areas for its core businesses, including water utility and construction.
The group is in talks with Marubeni Corp. of Japan as possible joint venture partner for its overseas venture.
Aside from looking overseas for investment opportunities, Consunji said there is still a lot of growth opportunities in the Philippines given its steady economic growth.
“If we don’t expand our growth will plateau. So we need to shift to higher gear and to another level of growth,” Consunji said.
While Consunji did not give out specific plans, he said the company’s expertise is acquiring “junk” companies and turning them around into profitability just like Semirara Mining, Maynilad Water Services and Calaca power plant project.
But while the conglomerate is looking to be more aggressive with expansion plans, Consunji said these new ventures should not affect the company’s return on equity and dividend policy.
From a purely construction firm, DMCI has diversified to other businesses like, real estate, coal mining and power generation.