JG Summit Holdings Inc, the diversified holding company owned by the Gokongwei family that controls Digital Telecommunications Philippines (Digitel), has allocated PHP28 billion (USD582.1 million) in capital expenditure projects in 2009, the bulk of which will be poured into its telecoms and airlines businesses. Although the CAPEX target is below last year’s PHP33.4 billion spending (due to lower spending on its food business), JG Summit president Lance Gokongwei said PHP12 billion had been allocated for telecommunications, which includes Digitel’s Sun Cellular mobile network.
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