MANILA, Philippines — Sytin-controlled LMG Corp. is bringing in a prominent name from the Philippine business community as it moves forward with a planned ₱130-million investment program.
LMG has tapped Dean Lao Jr., managing director of Chemrez Technologies and a member of the Lao business family, to join its board as a director. The appointment comes as the publicly listed company advances plans aimed at strengthening and expanding its business under the Sytin group.
The move puts Lao Jr.—whose family is associated with D&L Industries and Chemrez Technologies—inside the boardroom of LMG at a potentially important stage in the company’s transformation.
Why Dean Lao Jr.’s appointment matters
Lao Jr. brings experience from the chemicals and manufacturing sector to LMG’s board.
Public records identify him as the managing director of Chemrez Technologies, while D&L Industries’ corporate records list him among the Lao family’s business leadership. Forbes likewise identifies Lao Jr. as the managing director of Chemrez Technologies.
His appointment therefore adds a director with experience in manufacturing, chemicals and industrial businesses as LMG looks to deploy fresh capital.
The timing is particularly notable because LMG has outlined a ₱130-million investment plan, making the board’s composition an important factor as the company determines where and how that capital will be deployed.
From chemical company to Sytin-controlled listed vehicle
LMG’s corporate history has already gone through major changes.
The company was originally associated with the chemical industry. In 2017, businessman Dominic Sytin and Robinson Siao agreed to acquire a controlling stake in LMG from Chemical Industries of the Philippines. Contemporary reports put the transaction at ₱405 million for a 65.92-percent stake.
That transaction marked the beginning of a significant change in LMG’s ownership and strategic direction.
More recently, LMG has been involved in efforts to reshape its corporate structure and explore new opportunities.
The company’s own shareholding information shows Ann Marietta L. Sytin as its largest shareholder, with a 50.94-percent stake as of March 31, 2024, while Robinson W. Siao held 14.98 percent.
LMG has already been through another major transaction attempt
The latest development also comes after an earlier attempt to sell a major stake in LMG fell through.
In 2023, LMG and Maxwealth Infinity Holdings Corp. terminated an agreement involving the proposed acquisition of approximately 67 percent of LMG for around ₱400 million.
Reports at the time said the transaction was intended to use LMG’s publicly listed status as a vehicle for a possible backdoor listing. The deal was ultimately terminated, after which LMG sought the lifting of the trading suspension on its shares.
That history makes the company’s current investment program particularly significant.
The ₱130-million question
The biggest question now is what LMG intends to do with the planned ₱130 million.
The appointment of Lao Jr. suggests the company is strengthening its board with business expertise at a time when LMG is positioning itself for its next phase.
But investors will likely be watching several things closely: where the capital will be invested, how quickly the projects will be implemented, and whether the spending can translate into sustainable earnings growth.
The Philippine Stock Exchange’s disclosures also show that LMG has continued to make board and governance changes as part of its corporate development.
For a listed company that has undergone substantial ownership and strategic changes, the investment plan could become an important test of whether LMG can turn its new direction into an operating business with measurable results.
What happens next?
For now, the appointment of Dean Lao Jr. is more than another boardroom change.
It places an executive with deep experience in the chemicals and manufacturing business alongside the Sytin-led group as LMG prepares to execute a new investment program.
The key story for investors may therefore not be the appointment itself—but what LMG ultimately builds with the ₱130 million on the table.
If the investment program delivers, LMG could enter another significant chapter in its corporate evolution. If execution falls short, the company could once again face questions over strategy, capital deployment and shareholder value.
For now, the money is committed to the plan. The bigger question is what LMG will turn it into.
Leave a Reply