San Miguel Corp.(SMC) has been in the country since the Spanish times with their brewery business. As the years went by SMC has added other areas of business in the food and beverage area.
But as of today with Ramon S. Ang (a.k.a. RSA) diversification program for SMC the company has been entering new industries. One of this is power generation with its stake at Meralco(MER) and other is their bid on Philippine Airlines(PAL) of Lucio Tan.
Below is the Corporate structure of SMC
As per SMC's financial statements as of Sept, 2010 current ratio is at 1.7 but with a 1.87 Debt to Equity ratio.
For some time SMC's stock has been stagnant but the recent news and moves regarding RSA's diversification has caught the attention of investors. Some say it is more of a playing of the stocks by the few people and some say it is the doing of the very people that are already there.
Nonetheless it is worth looking back and checking SMC and be considered specially now that they have been aggressively diversifying into new areas.