Lopez Group of Companies
The Lopez Group of Companies is a Philippines business conglomerate owned by the López family of Iloilo. Oscar M. Lopez is the Chairman Emeritus and his brother Manuel M. Lopez is the current Chairman and Chief Executive Officer of the Lopez Group. It was first established by Eugenio Lopez, Sr., and later run by his eldest son, Eugenio Lopez, Jr.
The current listed flagship company of the Group is Lopez Holdings Corporation (formerly Benpres Holding Corporation), which was first listed on the Philippine Stock Exchange in 1993. Lopez Holdings is a major player in the public service and utilities sector in the Philippines.
Parent Companies
- Lopez Inc. - is a private holding company of the Lopez Family which owns 52.6% of Benpres Holdings Corporation which will be renamed as Lopez Holding Corporation after the approval of the stockholders during their annual stockholders meeting this June 2010. Headed by Presentation Lopez-Psankis.
- Lopez Holdings Corporation (formerly Benpres Holdings Corporation) - Lopez Holdings was incorporated in 1993 by the Lopez family to serve as the holding company for investments in major development sectors such as broadcasting and cable; telecommunications; power generation and distribution; and banking. It added to its portfolio, investments in other basic service sectors but has since sold its interest in banking, toll roads, information technology, property development and health care delivery. Lopez Inc. holds 52.6% of Lopez Holdings Corporation.
Selected businessess
Media and Telecommunications
- ABS–CBN Corporation - is in the business of producing entertainment, news and information programs and in the continuous adoption of breakthrough technology to deliver these to its audiences not just in the Philippines, but globally through The Filipino Channel. This content is distributed primarily in the Philippines through its flagship station ABS-CBN Channel 2. Last May 2010, the board of directors and stockholders of ABS-CBN Broadcasting Corporation approved the dropping of "broadcasting" to its corporate name and changing it to ABS-CBN Corporation.
- Sky Vision Corporation - or SkyCable was incorporated on March 25, 1991 and started commercial operations on February 1, 1992. The economic interest of Benpres in Sky Vision stood at 65.3% as of December 31. 2008. Sky Vision owns and operates cable television service providers which offer the brands SKYcable and SunCable, as well as internet and VOIP services under SKYbroadband and SKYvoice. The major cable companies under Sky Vision are Sky Cable Corporation (formerly Central CATV, Inc.) for Metro Manila and Pilipino Cable Corp. for 22 provincial systems nationwide.
- Bayan Telecommunications Holdings Corporation (Bayan Holdings) - owns Bayan Telecommunications, one of the telecommunications company in the Philippines providing a full range of services which includes local exchange, domestic long distance, international long distance, data services and payphone services. As of December 31, 2008, Benpres held 69.1% Bayan Holdings.
Power and Energy
- First Philippine Holdings Corporation - First Philippine Holdings Corporation (First Holdings) is a holding company whose core businesses are in power generation and distribution, with strategic initiatives in manufacturing, property and infrastructure.
Power generation
- First Gen Corporation - is the holding company of First Holdings in power generation and energy related businesses. First Holdings owns 67% of First Gen.
- First Gas Holdings Corporation - First Gas Holdings Corporation (FGHC) is the holding company for the development of gas-fired power plants and other non-power gas related businesses. FGHC is 60% owned by First Gen and 40% owned by BG Consolidated Holdings (Philippines) Inc.
- FGP Corp. - FGP is 60% owned by Unified Holdings Corp. of First Gen. and 40% owned by BG Philippines Holdings, Inc.
- FG Hydro Power Corporation -First Gen Hydro Power Corporation (FG Hydro) was incorporated as a wholly owned subsidiary of First Gen.
- FG Bukidnon Power Corp. - First Gen Renewables, Inc. (FGRI), formerly known as First Philippine Energy Corporation, was established in 1978 to develop prospects in the renewable energy market. First Gen owns 100% of FGRI.
- Bauang Private Power Corporation- First Private Power Corp. (FPPC) was established in 1992 to engage in power generation as an independent power producer. FPPC is 40% owned by First Gen. Today, it owns 93.25% of Bauang Private Power Corporation (BPPC).
- Energy Development Corporation - Energy Development Corporation (EDC), established in 1976,accounts for more than 60% of the country’s installed geothermal capacity. Its plants are located in the provinces of Leyte, Negros Oriental, Negros Occidental, Bicol and North Cotobato. n November 2007, First Gen Corporation bid for and won a 60-percent economic stake in EDC.
Power distribution
- Meralco (previously Manila Electric Company) - bought in 1962, and developed into a power-distributing company. First Holdings, now owns 6.7% stake in the company after selling it's 26.6% stake to Pangilinan's led-MPIC and Pilipino Telephone Corp. last year.
- PECO (Panay Electric Company) - First Holdings entered into a joint venture with the Panay Electric Company, Inc. (PECO) in March 1996 for the construction of a US 72 million diesel-fired power plant in Iloilo City. First Holdings acquired a 30 percent equity in PECO. In turn, PECO subscribed to a 30 percent equity interest in Panay Power Corporation. First Holdings currently owns 30% of PECO.
Property
- Rockwell Land Corporation (RLC)- a high-end real estate development corporation initially tasked to developed the Rockwell Center in Makati City. Rockwell Land was established in 1995. It is currently owned by Meralco (51%) and First Holdings (49%). First Holdings is in talks with the Meralco for the purchase of additional stake in RLC.
- First Philippine Industrial Park - First Philippine Industrial Park (FPIP) is a 315-hectare industrial estate. FPIP is a joint venture with Sumitomo Corporation of Japan which owns 30% while First Holdings owns 70%, formed in 1996 to develop an industrial park located in Sto. Tomas, Batangas.
- First Philippine Realty Corp. - formerly known as INAEC Development Corporation. It is primarily engage in the acquisition, disposal, or lease of real and personal property. FPRC is a wholly owned subsidiary of First Holdings.
Infrastructure
- First Balfour, Inc. -is one of the country’s largest engineering and construction companies today, with 40 years in business. First Balfour, Inc. is a wholly owned subsidiary of First Holdings.
- First Philippine Industrial Corp.- owns and operates the sole, largest commercial oil pipeline in the country, transporting crude and refined petroleum products from Batangas to Metro Manila. FPIC is 60% owned by First Holdings, in partnership with Shell Petroleum Co., Ltd. (UK) which owns 40%.
Manufacturing
- First Philippine Electric Corp. (First Philec)
- Philippine Electric Corporation (Philec)
- First Electro Dynamics Corporation (FEDCOR)
- First Philippine Power Systems, Inc. (FPPS)
- First Sumiden Circuits, Inc. (FSCI)
- First Sumiden Realty, Inc.
- First Philec Solar Corporation
Bills Payments
- CIS (Corporate Information Solutions) Bayad Center, Inc. - (CBCI) Originally known as the Payment Collection Service, a division of Corporate Information Solutions, Inc. (CIS) in May 1997. Originally intended for accepting payments for Lopez companies and affiliates, it eventually catered other companies and services as well.
Social responsibility foundations and initiatives
Former businesses
- Maynilad Water Services - joint-venture between Benpres Holdings Corporation and Ondeo Water Services, Inc. (formerly Suez Lyonnaise de Eaux). Benpres left the joint-venture in 2006 in order to settle a debt of US$150 million.
- The Medical City - in April 2008, Benpres sold entire its 18% stake in The Medical City to Lombard for Php600 million.
- Tollways - in 2008, First Philippine Infrastructure Development Corporation and Manila North Tollways Corporation were sold to Metro Pacific Investment Corporation.
- Philippine Commercial International Bank - a joint venture between Benpres and the JG Summit Holdings. Both sold their shares in 1999 to the SSS and GSIS which gave way to the Equitable Banking Corporation - Philippine Commercial International Bank merger which formed Equitable PCI Bank and was eventually bought by Banco de Oro Universal Bank becoming BDO-EPCI inc. and finally deciding the name to BDO Unibank.
References
- The Lopez Family: its Origins and Genealogy, edited and introduced by Oscar M. Lopez [1]
- Phoenix: The Saga of the Lopez Family by Raul Rodrigo
- The Power and the Glory: the story of the Manila Chronicle 1945-1998
- Lopez Holdings Corporation, official corporate website
- Lopez Family Values -- Philanthropy in the Philippines as published in The Synergos Institute's Global Giving Matters
- Lopez Link, the monthly newsletter of the Lopez Group of companies
Further reading
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Lopez Group of Companies
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| Media and Telecommunications |
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| Power and Energy |
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| Power Generation |
First Gen Corporation · First Gas Holdings Corporation · FGP Corp. · FG Hydro Power Corporation · FG Bukidnon Power Corp. · Bauang Private Power Corporation · Energy Development Corporation
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| Power Distribution |
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| Property |
Rockwell Land Corporation · First Philippine Industrial Park · First Philippines Realty Corp.
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| Infrastructure |
First Balfour, Inc. · First Philippine Industrial Corp.
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| Manufacturing |
First Philec · Philec · First Electro Dynamics Corporation · First Philippine Power Systems, Inc. · First Sumiden Circuits, Inc. · First Sumiden Realty, Inc. · First Philec Solar Corporation
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| Bill Payments |
Bayad Center, Inc.
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| Social Responsibility |
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| Former Businesses |
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