Overview
LT
Group, Inc. (“LTG” or the “Company”) was incorporated on May 25, 1937. In
1999, the
Company acquired Twin Ace Holdings Corp., now known as Tanduay
Distillers, Inc.(TDI), a producer of distilled spirits, through a share swap
with Tangent Holdings Corporation (“Tangent”). On September 24, 2012, The
company changed its corporate name from “Tanduay Holdings, Inc.” to “LT
Group, Inc.” LTG has expanded and
diversified its investments to include the beverages, tobacco, property
developments and banking businesses.
Business
Distilled Spirits The Company conducts
its distilled spirits business through its 100%-owned subsidiary TDI. TDI is
the third-largest distilled spirits producer in the Philippines according to
Nielsen Philippines, with an approximate 24% share of the Philippine spirits
market in 2016.
Beverages The Company conducts its beverage business through its
99.9%-owned subsidiary, Asia Brewery, Inc. (ABI). ABI is one of the
Philippines’ leading beverage manufacturers, producing energy drinks, bottled
water, and soymilk. The company conducts its alcoholic beverage business
through ABI’s 50% stake in AB Heineken Philippines Inc.(ABHP)
Tobacco The Company conducts its tobacco business through its
99.6% ownership in Fortune Tobacco Corporation (FTC), which in turn owns
49.6% of PMFTC. PMFTC is the leading tobacco manufacturer and distributor in
the Philippines with an estimated 71% market share in the year 2016.
Banking The Company conducts its banking business through
Philippine National Bank (PNB). PNB is a universal bank currently listed in
the Philippine Stock Exchange (PSE). The Company’s indirect ownership is
approximately 56.47%. PNB is the Philippines’ fourth largest private
commercial bank in terms of total assets in 2016.
Property Development The Company conducts its property
development business through Paramount Landequities, Inc. and Saturn
Holdings, Inc., with an effective indirect ownership of 99.6% in Eton
Properties Philippines, Inc. (Eton). Eton has a diverse portfolio of property
development projects in various areas throughout the Philippines, primarily
in Metro Manila and surrounding areas, and access to the large land bank of
the Tan Companies. Eton’s project portfolio mainly comprises residential real
estate projects (including large-scale township projects. Eton also develops
and leases out commercial properties to retail and BPO tenants.
Net Income
contributions from each business segment in 2016
Banking
|
Distilled Spirits
|
Beverage
|
Tobacco
|
Property Development
|
7,344,112,000
|
898,192,000
|
1,755,217,000
|
2,581,412,000
|
388,029,000
|
56.64%
|
6.92%
|
13.53%
|
19.90%
|
2.99%
|
Business
Development
In
2012, ABI partnered with Empresarial Pascual S. L. of spain to distribute
yogurt products.
In
2016, AB Heineken Philippines Inc. (ABHP) is incorporated to manufacture,
import and export non-alcoholic beer, malt-based beverages. ABHP also handles
group’s alcoholic beverage business such as Colt 45, Tanduay Ice, Heineken
and Tiger.
Subsidiaries /
Associates / Affiliates / Joint Ventures
Tanduay Distillers, Inc. (TDI) has several
subsidiaries such as Asian Alcohol
Corporation (AAC, 95%), Absolut Distillers, Inc. (ADI, 96%), Tanduay Brands
International, Inc. (TBI, 100%)
Asia Brewery, Incorporated (ABI) has
several subsidiaries also. Waterich Resources Corporation (WRC) manufactures
Absolute and Summit bottled water. Packageworld, Inc. (PWI) is for production and
distribution of packaging materials for alcoholic and non-alcoholic beverages
and bottled water. Interbev
Philippines, Inc. (IPI) production and distribution of Cobra
and Sunkist carbonated soft drinks. AB Nutribev Corp. (ABNC) is for manufacturing and trading of of
dairy and soy milk-based beverages.
Fortune Tobacco Corporation (FTC)
Incorporated in 1965 to engage in cigarette
manufacturing, selling, importing and exporting. Some of brands are Fortune,
Champion and Hope. A JV company PMFTC, 49% owned by FTC, now produces FTC and
Philip Morris’ Marlboro brands.
Philippine National Bank (PNB) It is a
listed company. The details will be discussed in a separate section. PNB is the
country’s first universal bank and the fourth largest private local
commercial bank in terms of assets as of December 31, 2016.
Eton Properties Philippines, Inc. (ETON)
It
has several subsidiaries for the real estate development business.
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