SMC unveils major investments IN BRIEF

passengers once fully completed. Other infrastructure projects that are progressing well are the Mass Railway Transit Line 7, South Luzon Expressway Tollroad 4 and the SLEX Tollroad 5. Ang said 2023 could be a challenging year for the group because of the highinflation environment, coupled with higher cost of borrowing, fluctuating crude prices and lower power and food demand.

He said despite these factors, sales volume would remain strong.

“If we can at least match the previous year’s performance, I think we should be very thankful,” Ang said during the stockholders meeting.

By Darwin G. Amojelar

VOYAGER Innovations, owner of Maya, said Tuesday it is raising $100 million to $150 million this year to support aggressive expansion.

“There is an effort to raise some money—anywhere between $100 and $150 million,” Voyager chairman Manuel Pangilinan said at the sidelines of the annual stockholders’ meeting of PLDT.

“I think the focus of attention is new stockholders, but I think given market conditions, I think the existing shareholders may have to participate for the portion,” he said.

Pangilinan said PLDT would participate in the fundraising of Voyager.

MASS HIRING. McDonald’s Philippines’ managers and crew are ready to bring more feel-good moments in stores nationwide.

With now close to 60,000 employees, McDonald’s Philippines—under its master franchise holder and owner Dr. George Yang and president and chief executive Kenneth Yang—announces over 20,000 career opportunities to Filipinos as it continues to open more stores all over the country. Priority areas for hiring management trainees are Nueva Ecija, Isabela, Montalban, Dumaguete, Bacolod, Makati, Manila, Quezon City, Pampanga, Tagaytay, Batangas, Cavite, Laguna, Quezon, Rizal, Lucena and Pasig City. Priority areas for crew members are Parañaque, Manila, Pasay, Pasig, Marikina, Taytay, Antipolo, Kidapawan and Davao City.

By Othel V. Campos

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Manufacturers of the Philippines Inc. and the Truck Manufacturers Association said in a joint report automotive sales reached 38,177 in May, up from 26,370 units a year ago.

“The growth of new motor vehicle sales in May with nearly 45-percent increase is definitively driven by the high market demand, recording double-digit growths across all segments from the figures last year,” CAMPI president Rommel Gutierrez said.

“The industry also welcomed the country’s sustained economic improvement in major economic sectors, which remain an important factor towards an economic and market conditions that are favorable for the industry and consumers alike,” he said. Data showed that passenger car sales climbed 40.6 percent in May to 9,792 from 6,964 units a year ago. Monthon-month sales also rose 33.83 percent from 7,317 units in April 2023. This brought total passenger cars sold from January to May to 166,104 units, up by 31.5 percent from 126,273 units