Ayala Corporation

Ayala Corporation
Public (PSE: AC)
Founded Manila, Captaincy General of the Philippines
1834 (1834)
Founders Domingo Róxas
Antonio de Ayala
Headquarters Makati, Philippines
Key people
 Jaime Augusto Zóbel de Ayala (Chairman and CEO)
Fernando Zóbel de Ayala (President and COO)
Revenue ₱94 billion (2011)[1]
₱15.7 billion (2011)[1]
Website Ayala.com.ph

Ayala Corporation (Spanish: Corporación Ayala, formerly Ayala y Compañía) is the publicly listed holding company for the diversified interests of the Ayala Group. Founded in the Philippines by Domingo Róxas and Antonio de Ayala during the Spanish colonial rule, it is the country's oldest and largest conglomerate. The company has a portfolio of diverse business interests, including investments in retail, education, real estate, banking, telecommunications, water infrastructure, renewable energy, electronics, information technology, automotive, healthcare, and management and business process outsourcing. As of November 2015, it is the country's largest corporation in terms of assets ($48.7B).

History

The company began in 1834 with the formation of a distillery owned by Casa Róxas, a partnership between Domingo Róxas and Antonio de Ayala.[2] The distillery was the maker of Ginebra San Miguel and was later acquired by La Tondeña, Inc. in 1929.

In the late 19th century, Ayala participated in the construction of the Puente de Ayala (Ayala Bridge) over the Pasig River in Manila. Built of wood in 1872, the bridge was reconstructed in steel in 1908 and became the first steel bridge in the Philippines. In 1888, Ayala introduced the first tramcar service in the Philippines. Ayala was responsible for the development of Makati as the financial district of Manila and the Philippines after World War II.

In April 2010, FinanceAsia named Ayala Corporation as the best-managed company in the Philippines, as well as best for corporate governance and best for corporate social responsibility.[3]

In 2011, Ayala began building its renewable energy portfolio, beginning with a joint venture with Mitsubishi for solar power, the purchase of the iconic Northwind farm for wind power, and its joint venture with Sta. Clara Power for run-of-the-river hydro power. Ayala will contribute 1000 MW to the Philippine power supply, by 2015.[4] In 2015, FinanceAsia awarded Ayala Corporation as the Best Managed Company in the Philippines in the 15th annual survey of top public companies in Asia.

Attached companies and investments

Real estate

  • Ayala Land Inc.
  • AG Holdings, Ltd.[5][6]
  • Portico Land Corp. - joint venture with Mitsubishi Corporation [7]
  • Roxas Land Corp. - joint venture with Bank of the Philippine Islands and Hongkong Land
  • Regent Wise Investments Limited
    • MCT Consortium Berhad (32.95% ownership, based in Malaysia)
  • Ortigas & Company Limited Partnership - Since November 2014, Ayala and SM Prime Holdings ended their dispute over the ownership of OCLP Holdings, the parent of Ortigas & Company. Ayala has recently sealed a deal with a group led by Ignacio Ortigas for the development of the Ortigas family's land bank area.[8]
  • Trident Infrastructure and Development Corporation (TIDC) - Formerly known as "Team Trident" and "the super consortium", is a joint-venture between Aboitiz Equity Ventures, Inc. (AEV), Ayala Land Inc. (ALI), Megaworld Corporation (MEG) and SM Prime Holdings, Inc. (SMPH). It is aimed to develop the Laguna Lakeshore Expressway and Dike Project (LLEDP).[9]
  • Ayala-GT Capital - In May 2015, through Ayala's Alveo Land and GT Capital's Federal Land, the two corporations will develop a 45-hectare property in Biñan, Laguna, aimed towards mid-range and high-end markets.[10]

Financial services

Telecommunications

Utilities

Power and transport

Manufacturing and automotive

Social infrastructure

  • Ayala Healthcare Holdings, Inc.[31]
    • FamilyDOC Clinic[32]
    • Generika - Drugstore chain, with 50% stake
  • QualiMed - Hospitals and clinics, a joint-venture with Mercado General Hospital Inc.(MGHI) and Ayala Land, Inc.[33]
  • Ayala Education, Inc.
    • University of Nueva Caceres - Ayala Education’s flagship University [34]
    • Affordable Private Education Center, Inc. (APEC Schools) - a joint venture between the Ayala Corporation and Pearson PLC's Affordable Learning Fund (Pearson ALF). It promotes affordable but high-quality education.[35][36]
    • Professional Employment Program (PEP) [37]

Nonprofit organizations

  • Ayala Foundation[38]
    • CENTEX[39]
    • Ayala Museum[40]
    • Philippine Development Foundation[41]
    • Ayala Technology Business Incubator[42]
    • Filipinas Heritage Library[43]
    • Ayala Social Initiatives[44]

Business process outsourcing and Digital businesses

Retirement of the Ayala chairman

In January 2006, the board of directors publicly announced the decision by Jaime Zóbel de Ayala to retire as chairman of the corporation by April 2006. The board also announced his appointment as chairman emeritus upon his retirement. His eldest son, Jaime Augusto Zóbel de Ayala, succeeded him as chairman and chief executive officer, while his younger son, Fernando Zóbel de Ayala, has assumed the position of president and chief operating officer. The Zóbel de Ayala family's holding company, Mermac, Inc., continues to hold the controlling stake (49%) in Ayala Corporation.[52]

Oldest business house in Philippines

In 2014, Ayala celebrated its 180th anniversary. The company is credited for having contributed to the socio-economic development of the Philippines.[53]

References

  1. 1 2 "Archived copy" (PDF). Archived from the original (PDF) on 2013-12-02. Retrieved 2012-05-10.
  2. ↑ Borja, Marciano (May 1, 2005). Basques in the Philippines. Nevada: University of Nevada Press. ISBN 0874175909. Retrieved 6 June 2014.
  3. ↑ "Asia's best managed companies: Indonesia and the Philippines", Finance Asia
  4. ↑ "Ayala Corp Builds Renewable Energy Portfolio with Run-of-the-River Hydropower" Archived April 23, 2011, at the Wayback Machine., The Philippine Daily Inquirer
  5. ↑ "Charles H. Cosgrove J.D.: Executive Profile & Biography - Businessweek". businessweek.com.
  6. ↑ "Philippine Ayala Corp eyes Chinese, Indian real estate markets_English_Xinhua". xinhuanet.com.
  7. ↑ "Japan's Mitsubishi taps Ayala Land for Ortigas property venture". interaksyon.com.
  8. ↑ User, Super. "Ayala Land, Ortigas group seal P15B deal". thedailyguardian.net.
  9. ↑ ABS-CBNnews.com. "Why Ayala, Aboitiz, Sy, Tan formed 'Team Trident'". abs-cbnnews.com.
  10. ↑ ANC, Cathy Yang,. "DPWH mulls bid submission extension for Laguna Lakeshore PPP". abs-cbnnews.com.
  11. ↑ "Archived copy". Archived from the original on 2012-02-03. Retrieved 2012-05-10.
  12. ↑ http://www.global-imi.com/media/IMI-Definitive-IS.pdf
  13. ↑ Remo, Amy R. "AC Energy of Ayala group to invest $200M in 2013". inquirer.net.
  14. ↑ ABS-CBNnews.com, by Kathleen A. Martin,. "Ayala Corp. allots up to $700-M for energy projects". abs-cbnnews.com.
  15. ↑ "Ayala to build 405-MW plant". manilastandardtoday.com.
  16. ↑ Camus, Miguel R. "Gov’t expected to award P65-B LRT project to Ayala-MPIC group next week". inquirer.net.
  17. ↑ Agcaoili, Lawrence. "Gov’t, MPIC-Ayala sign deal for MRT-LRT single ticket system". philstar.com.
  18. ↑ "Ayala Corp. posts P7.3B net in first 9 mos., up 7%". gmanetwork.com.
  19. ↑ OECD, Organisation for Economic Co-operation and Development (2001). Corporate Governance In Asia: A Comparative Perspective. OECD Proceedings Series. OECD Publishing. ISBN 9789264183285.
  20. ↑ "Integrated Micro-Electronics, Inc. (IMI) - IMI". global-imi.com.
  21. ↑ Mercurio, Richmond S. "Ayala-led IMI aims for billion dollar revenues". philstar.com.
  22. ↑ http://www.hondamakati.com.ph/
  23. ↑ "Archived copy". Archived from the original on 2011-08-30. Retrieved 2011-06-08.
  24. ↑ "Archived copy". Archived from the original on 2012-02-04. Retrieved 2012-05-11.
  25. ↑ http://hondacebu.com.ph/
  26. ↑ "Archived copy". Archived from the original on 2011-05-14. Retrieved 2011-06-08.
  27. ↑ "Library unavailable - 0007". myvirtualpaper.com.
  28. ↑ "philippine-builder.com - This website is for sale! - philippine-builder Resources and Information.". philippine-builder.com.
  29. ↑ News, by Liza Reyes, ABS-CBN. "Ayala group brings back VW; Beetle in 2014". abs-cbnnews.com.
  30. ↑ http://asia.nikkei.com/Business/AC/Ayala-buys-German-auto-parts-maker-MT-Misslbeck-Technologies
  31. ↑ "Ayala Health". ayalahealth.ph.
  32. ↑ "FamilyDoc". familydoc.com.ph.
  33. ↑ "About Us - QualiMed Health Network". QualiMed Health Network. Retrieved 9 July 2016.
  34. ↑ http://ayalanews.com/ayala-corporation/news/2015/07/ayala-education-inc-invests-university-nueva-caceres%5B%5D
  35. ↑ "APEC". Pearson PLC. Retrieved August 4, 2014.
  36. ↑ "Tuition in new private schools: 'P65 a day'". rappler.com. May 16, 2014. Retrieved August 4, 2014.
  37. ↑ http://ayalaeducation.com/pep/
  38. ↑ http://www.mb.com.ph/articles/359007/in-honor-iconoclast%5B%5D
  39. ↑ "inmetromanila.com.ph". inmetromanila.com.ph.
  40. ↑ http://www.makaticity.com/museums/ayala-museum.php%5B%5D
  41. ↑ "Archived copy". Archived from the original on 2010-11-23. Retrieved 2012-05-10.
  42. ↑ "Archived copy". Archived from the original on 2012-05-26. Retrieved 2012-05-10.
  43. ↑ INQUIRER.net. "Cultural advocate to speak at Filipinas Heritage Library’s workshop". inquirer.net.
  44. ↑ "Archived copy". Archived from the original on 2009-03-03. Retrieved 2012-05-10.
  45. ↑ "EDITORYAL - Kulang na naman ang mga classroom?". philstar.com.
  46. ↑ Editorial, Reuters. "Integreon buys Grail Research; eyes more". reuters.com.
  47. ↑ Pamintuan, SKETCHES By Ana Marie. "Strength in unity". philstar.com.
  48. ↑ BusinessMirror, by Miguel R. Camus,. "Ayala's BPO unit expects to post profit as it expands". abs-cbnnews.com.
  49. ↑ https://www.reuters.com/finance/stocks/AC.PS/key-developments/article/2292805
  50. ↑ "Ayala BPO unit buys LA outsourcing firm". yahoo.com.
  51. ↑ http://asia.nikkei.com/Business/AC/Ayala-enters-e-commerce-through-Zalora-Philippines
  52. ↑ "Zobel retires as Ayala chairman," Manila Bulletin, January, 2006 "Archived copy". Archived from the original on 2011-05-11. Retrieved 2010-09-16.
  53. ↑ "Ayala on solid ground after 175 years", Philippine Star, March 10, 2009
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