The Filipino conglomerate wants to diversify and invest in new businesses like power and infrastructure.

San Miguel Corporation plans to spend some 281 billion pesos (Bt184 billion) to expand traditional and new businesses in two to three years, mostly in the Philippines.

In an investor briefing for SMC’s bond offering of up to 20 billion pesos earlier this year, Chief Financial Officer Ferdinand Constantino said the capital outlays would be made from the fourth quarter of last year to 201819.

“We want to enhance established businesses and continue to grow beverage, food and, even to a certain extent, the packaging businesses,” he said.

SMC also wants to diversify and invest in its new businesses like power and fuel, and infrastructure, he said.

SMC is among the leading Philippine giants that made inroads in the region, diversifying their revenue base and improving their supply chain, long before Asean formalised the creation of the Asean Economic Community.

San Miguel group, which controls 90 per cent of the beer market in the Philippines, has brewery and sales operations in Hong Kong, China, Vietnam, Thailand and Indonesia.

The group also exports beer products to more than 40 countries.

It will pour as much as 75 billion pesos into its traditional food business lines, due mainly to demand from increasingly affluent consumers.

President Ramon Ang said in an interview that the new investments would include new processing plants for its Pure Foods meat products and new bottling lines for its beer business.

“We are going to produce Spam now to export to Asean countries,” he said, referring to a partnership with US-based Hormel Foods, which produces the processed meat popular with Filipinos.