Ayala Corporation provided capex guidance for the year 2018. For the year, the company plans to spend at least PHP 200 billion in capex up from PHP 195 billion last year, mainly to expand its core businesses, as well as its newer ventures. The company's unit Bank of the Philippine Islands will be taking a large bite of this year's capex because of its planned stock rights offering of about PHP 40 billion to PHP 50 billion. The company also expects to allot a bigger capex budget for 2018 compared to the PHP 88 billion allotted last year.