LTG: 9 in 10 workers willing to get vaccine

Most of the employees of the companies owned by business tycoon Lucio Tan are ready and willing to be vaccinated once the firm’s orders arrive by the middle of this year.

Listed firm LT Group Inc. (LTG) said during its recent sign-up, about 90 percent of its more than 50,000 employees and service providers agreed to be inoculated.

The high vaccine acceptance was attributed to the aggressive information drive the group has been conducting since early February, the company said in a statement.

LTG president Michael G. Tan said the group has vaccine orders for close to 40,000 employees and 14,000 third party service providers of all firms belonging to the Lucio Tan Group.

Service providers include those that employees interact with on a daily basis like security guards and canteen concessionaires. Mechanics are also being drafted to allow employees to access vaccines for their families and households, he said.

“Vaccination is a crucial step towards the path to normalcy. Not only does it protect you from getting severely sick but also protects everyone around you—your family, friends, co-workers and customers—from catching the virus,” Tan said.

“Getting vaccinated is also the key to reopen our economy. While we may not immediately return to our old ways, it’s an important step to regain our freedom and the life we once had. I therefore enjoin everyone to get that jab.”

In November 2020, LTG joined some of the country’s biggest conglomerates in signing firm orders for AstraZeneca vaccine through a tripartite agreement with the national government and business advocacy group Go Negosyo led by Presidential Adviser for Entrepreneurship Joey Concepcion.

LTG earlier said its attributable income last year fell 9 percent to P21.02 billion from the previous year’s P23.12 billion.

The tobacco business accounted for P16.83 billion or 80 percent of its income, followed by lender Philippine National Bank which contributed P1.55 billion or 7 percent to the income, liquor firm Tanduay Distillers Inc. contributed P1.1 billion or 5 percent, Eton Properties Philippines Inc. accounted for P799 million or 4 percent, while Asia Brewery Inc. contributed P583 million or 3 percent.

The company’s 30.9 percent stake in Victorias Milling Co. Inc. accounted for P264 million or 1 percent.

The company’s balance sheet remains strong, with its debt-to-equity ratio was at 4.3:1 with the bank, and at 0.16:1 without the bank.

Article and Photo originally posted by Business Mirror last March 26, 2021 and written by VG Cabuag.