Ayala Land Inc., the biggest Philippine developer, said it will be difficult to meet the Nov. 4 bid deadline for a Manila reclamation project after its request to extend the cut-off date by two months was rejected.
Teresita Sy-Coson sits down with her five siblings for lunch every Tuesday to plot the direction of the Philippines’ largest family-run conglomerate. The sessions start at 11 and invariably spill over the allotted two hours, says Sy-Coson, 63, chairman of BDO Unibank Inc. and the eldest child of Henry Sy, the country’s richest man.
Ayala Land Inc. will develop tourism complexes and hospitals as one of the Philippines’ biggest builders expands beyond housing, malls and offices to boost profit that rose to a record. Shares rose to a four-month high.