煙草在線據《菲律賓每日問詢報》報道編譯　　陳永栽集團（LTG）已取消了與菲莫集團簽署的退出協議，確認了其對煙草企業的承諾。

　　在12月11日向菲律賓證券交易所披露的文件中，陳永栽集團表示，其董事會以及福川煙草公司（FTC），已同意終止福川煙草公司與菲莫菲律賓制造公司在2010年簽署的退出權利協議。

　　來自陳永栽集團的消息來源稱，雙方終止退出協議只是意味著福川煙草公司“不會退出或離開煙草業務”。

　　2010年成立的合資公司——菲莫福川煙草公司（PMFTC），經營福川煙草公司和菲莫公司的合作業務。

　　陳永栽集團擁有福川煙草公司至少83%的股權，相應地，擁有菲莫福川煙草公司49.6%的股權。

　　近日，陳永栽集團表達了對非法卷煙貿易的關注，一個競爭對手會以一個“在經濟上不可持續的”價格即每支1比索的價格出售產品。

　　陳永栽集團指出了今年消費者轉向低價卷煙的趨勢。在截止到今年7月的三個月中，低價卷煙產品的份額，包括菲莫福川煙草公司的品牌，從去年同期的僅有15%，增長到整個市場規模的44%。

　　由于菲莫福川煙草公司的資產凈收益減少了，因此在今年1-9月，陳永栽集團的煙草業務凈收入同比下降了37.7%，達到28億比索。第三季度的銷量減少到178億支，同比下降了20.7%，而在2013年第一季度的銷量同比下降了42.5%，今年第二季度的銷量同比下降16.5%。

　　陳永栽集團認為，非法卷煙貿易已經成為菲律賓僅次于石油走私的一個關鍵問題。隱蔽的國內制造卷煙以及來自于國外的走私產品助長了非法貿易。

　　另外，福川煙草公司和陳永栽集團的董事會批準了一項修訂的分紅政策，將“大幅提高股東利益”，并將于2014年1月生效。

　　福川煙草公司已經批準了股票分紅的聲明，相當于96.2億股普通股。

　　同時，陳永栽集團肯定了支持其銀行業務部門——菲律賓國家銀行（PNB）的承諾。其董事會已批準通過其控股公司根據股權發行來認購至少9780萬股菲律賓國家銀行的股份。

Philippines: LTG Shores up Tobacco Venture

　　The Lucio Tan group has scrapped an exit agreement with the Philip Morris group, affirming its commitment to their tobacco venture.

　　In a disclosure to the Philippine Stock Exchange on Wednesday, LT Group Inc. (LTG) said its board, as well as that of Fortune Tobacco Corp. (FTC), has agreed to terminate the exit rights agreement FTC sealed with Philip Morris Philippines Manufacturing Inc. in 2010.

　　A source from LTG said the termination of the exit agreement by both parties simply meant that FTC was "not about to exit or leave the tobacco business."

　　Philippine Morris Fortune Tobacco Corp. (PMFTC), the joint venture firm created in 2010, operates the combined businesses of FTC and Philip Morris.

　　LTG owns at least 83 percent of FTC which, in turn, owns 49.6 percent of PMFTC.

　　Recently, LTG expressed its concern over the illicit trade in cigarettes, where a competitor could sell products at an "economically unsustainable" price of P1 a stick.

　　LTG noted the downtrading by cigarette consumers this year. The share of the low-priced segment, including PMFTC's brands, increased to 44 percent of the overall market in the three months to July, from only 15 percent the previous year.

　　LTG's tobacco business posted a 37.7-percent year-on-year decline in net income from January to September to P2.8 billion, due to PMFTC's lower equity in net earnings. Volume reached 17.8 billion sticks in the third quarter—20.7 percent lower year on year—compared with the 42.5 percent year-on-year volume drop in the first quarter of 2013, and the 16.5 percent decline in the second quarter of this year.

　　Next to oil smuggling, LTG believes the illicit trade of cigarettes has become a key concern of the Philippines. Underground domestic manufacturing of cigarettes and the smuggling of products from abroad are seen to fuel the illegal trade.

　　Also, the boards of FTC and LTG approved an amended dividend policy effective January 2014 that would "substantially increase the benefits to its shareholders."

　　FTC already approved the declaration of stock dividend equivalent to 9.62 billion common shares.

　　Meanwhile, LTG has affirmed its commitment to support its banking arm, Philippine National Bank. Its board approved the subscription to at least 97.8 million shares of PNB through its holding companies pursuant to its stock rights offering. Enditem