MPIC president Jose Ma. K. Lim said the global health crisis has forced the company to revise its spending priorities, rethink long-term investments and determine whether they are still sensible in this changing environment.
“Navigating through a pandemic would have been even more challenging had it not been for the relative strength of our balance sheet. Consequently, while we remain committed to our ongoing priority projects, we have also recalibrated our capital expenditure plans for the year and have decided to defer or discontinue previously announced discretionary investments.
This will allow us to focus more on investments that will enable economic growth from infrastructure development without putting additional strain on future our cash flows,” he said.
For one, the group has decided to discontinue investments in capital extensive, large-scale warehousing including the previously announced Sta. Rosa Logistics hub, which was touted to be the “most modern” facility that will offer both regular and cold storage services.
The facility in Laguna was supposed to be the first of a planned rollout of strategically located international standard logistics centers.
Considering the changing landscape in the logistics space driven by the pace of digitalization in e-commerce and rapidly evolving end-to-end consumer behavior, Metropac Movers Inc. is shifting its focus on areas where it can best serve the needs and demands of the market.