ANSCOR

A. Soriano Corporation (ANSCOR) is a corporation in the Philippines, with interests in mining, breweries, fertilizers, insurance and banking. It was founded in the 1930s by Andrés Soriano, Sr. and is closely linked with San Miguel Corporation.^[1]

History

ANSCOR was established in 1930 by Andrés Soriano, Sr.. Initially, the company focused on industries related to natural resources.^[2] During the 1970s, it branched out into finance. Towards the 1990s, it shifted focus to the ports and the BPO industry.

Companies, Subsidiaries and interests

The beginnings of ANSCOR was closely linked with San Miguel Corporation (which Andrés Soriano, Sr. headed by 1939).

• 1935 - Founded Atlas Consolidated Mining And Development Corporation(ATLAS), a mining company
• 1955 - Formed a partnership with Phelps Dodge International Corporation (PDIC), a company manufacturing electric wires and cables^[3]
• 1957 - Established Atlas Fertilizer Corporation^[4]
• 1961 - Founded Anscor Casto Travel Corportation to provide travel services to their own Soriano group of companies. Started servicing the general public in 1971.^[5]

2nd Phase - Investments in financial companies -

During the late 1970s and early 1980s, ANSCOR entered into its second phase of development, investing in the financial service sector in the following companies -

• 1979 - Acquired Provident Insurance Corporation (a company which was founded in 1934, acquired by Anscor in 1979, renamed Mapfre Asian in 1985 by merging with Asian bank, and Mapfre Insular in 2005 after merging with Insular Gen)^[6]
• 1980 - AB Capital and Investment Corporation (now called AB Capital Group)^[7]
• AsianBank.

In the early 1990s. with the increase of Philippine imports and exports, they diversified into container ports services (ICTSI) and tourism (Amanpulo Resort in Pamalican island, Palawan).

• 1987 - Established ICTSI (International Container Terminals Services Incorporated)
• 1993 - Established Amanpulo resort, Palawan (as a joint venture with Aman Resorts)^[8]

Gradually, ANSCOR reduced its investments in the mining, fertilizer manufacturing and financial services sectors as they anticipated unfavorable results in continuing with these businesses.

3rd phase - 1990s -

In the late 1990s, ANSCOR invested in a business outsourcing company called SPI Technologies, Inc. (now SPI Global)^[9] and IQMAN (International Quality Manpower Services, Inc.), now called [www.iqteam.com/ Cirrus Global], a manpower recruitment company specialising in providing nurses and therapists to the middle east and USA.^[10] In 1993, with other partners, Anscor ventured into information technology through Multi-media Telephony, Inc.(Broadband Phils).^[11] In the same year, ANSCOR formed a ship management company in Manila called ASSM (Anscor Swire Ship Management Corporation) as a joint venture with Swire Pacific Ship Management Ltd (SPSM).^[12]

As per the company website,^[13] ANSCOR's portfolio includes investments in offshore and local corporate and sovereign bonds denominated in US dollars and Euros.

• 2006 (May) - The Group's holdings in ICTSI shares were sold to Razon Group. In July 2006, Anscor's subsidiary sold all its shareholdings in SPI Technologies, Inc.^[14]
• 2008 (July)- Anscor sold about 1,081,900 shares, representing 18.34-percent stock, in Phelps Dodge (a joint venture between Anscor and General Cable established in 1995) to Canadian firm General Cable Company for P641.49 million. The sale paved the way for General Cable's further expansion in the Philippine market and the Southeast Asian region. With the sale, General Cable owned 60 percent of Phelps Dodge and the rest was owned by Anscor.^[15]

Board of Directors ^[16]

• Andrés Soriano III
• Eduardo J. Soriano
• Ernest K. Cuyegkeng
• John L. Gokongwei Jr.
• Oscar J. Hilado
• Jose C/Ibazeta
• Roberto R. Romulo

Officers

• Ernest K. Cuyegkeng - Executive Vice President and Chief Financial Officer
• Narcisa M. Villaflor - Vice President and Comptroller
• Lorna P. Kapunan - Corporate Secretary
• Joshua L. Castro - Executive Assistant and Assistant Corporate Secretary

References