Our Company ended 2020 with a record order book of PhP 68.4 billion despite the pandemic.
We were able to diversify our pipeline amid the soft private real estate market, with a balanced portfolio of residential, commercial industrial, and infrastructure projects with the latter revealing itself to be a fast-growing segment.
Key to this achievement was our unique competitive advantage of operating one of the largest and most advanced precast facilities in Southeast Asia, which—with its inherent human distancing attributes, quick turnaround, and environmentally friendly features—perfectly suits the new occupational and health safety standards required in construction sites.
Together with cash preservation, we readily took up opportunities by launching several capital market exercises in 2020 to benefit from the lower interest rate environment. Altogether, these initiatives improved Megawide’s gearing ratio to 1.15x from 1.59x and provided the Company with additional debt headroom to support its long-term strategic objectives.
In the next two years, our Company is determined to sustain our financial management agenda to support our capital restructuring program and strengthen our financial position over the long run, with a more advanced management information system in place and the prevalence of a favorable interest rate environment.