BIZ BUZZ: Del Monte’s recipe for survival

Del Monte Pacific Ltd. is trying to reassure investors that it isn’t running out of steam despite ending its fiscal year with a hefty $589.9-million net capital deficit.

Responding to queries from the Singapore Exchange, the food and beverage giant insisted that its current financial strain is tied to its capital structure—not its operations.

Its crown jewel, Del Monte Philippines Inc., remained profitable, posting a 43-percent jump in operating profit to $153.6 million and a 37-percent increase in net profit to $103.1 million in fiscal 2026.

The group acknowledged its $787.2-million net current liability position and a cash balance of just $8 million, but stressed that revolving credit facilities continue to support liquidity.

It is also working with an external financial restructuring adviser to finalize a recovery plan while negotiating with lenders to extend covenant waivers that mostly expire around September 2026.

One major lender has already extended its waiver until September 2027. The company added that none of its lenders has issued a formal notice of collection acceleration or enforcement.

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