Lopez Group of Companies

Lopez Holdings Corporation
(López Group of Companies)

Type	Public
Industry	Various (conglomerate)
Founded	1928 (1928)
Founder	Eugenio H. López, Sr. and Fernando H. López
Headquarters	Ortigas Center, Pasig City, Metro Manila, Philippines
Key people	Oscar M. López, Chairman Emeritus Manuel M. López, Chairman and Chief Executive Officer Eugenio L. López III, Vice Chairman of the Board of Director Federico Rufino López, Treasurer & Comptroller - Member of the Board of Directors
Revenue	US$ 537 million (2013)
Operating income	US$ 99.27 million (2013)
Net income	US$ 24.27 million (2013)
Total assets	US$ 6.67 billion (2013)
Total equity	US$ 3.09 billion (2013)
Parent	López, Inc. (52.6%)
Subsidiaries	ABS-CBN Corporation Sky Cable Corporation Manila Electric Company First Philippine Holdings Corporation First Gen Corporation First Philec Corporation First Philippine Industrial Park Rockwell Land Corporation
Website	lopezlink.ph www.lopez-holdings.ph

López Holdings Corporation (formerly Benpres Holdings Corporation) is a Filipino business conglomerate founded by the brothers Eugenio López, Sr. and Fernando López. It is a major player in the public service and utilities sector in the Philippines and serves as the López family's publicly listed holding company for investments in major development sectors such as broadcasting and cable; telecommunications; power generation and distribution; manufacturing; and property development. It added to its portfolio investments in other basic service sectors but has also since sold its interest in banking, toll roads, information technology, and health care delivery.

López Holdings Corporation is majority-owned by López, Inc., a private holding and investment entity of the López family.

Businesses

Media and Telecommunications

• ABS-CBN Corporation (formerly ABS-CBN Broadcasting Corporation) - a publicly listed company and the country's largest media conglomerate. It is currently involve in broadcast radio and television as well as cable television (SkyCable, Creative Communications, Inc.), television programming, films, publishing, licensing, and websites. Its flagship television station, ABS-CBN TV-2 Manila is one of the leading television stations in the country and is available worldwide through The Filipino Channel. Lopez Holdings owns 57.24% of ABS-CBN Corporation as of 2014.
• Sky Vision Corporation - is a holding company incorporated on March 25, 1991 with the primary purpose of owning controlling stocks on Sky Cable Corporation. It started commercial operations on February 1, 1992. It is owned 55% by ABS-CBN Corporation, 5% by Lopez Holdings Corporation and 40% by Sampaquita Communications Pte. Ltd.^[1] Sky Cable recently acquires the Destiny Cable Inc. and also Sky Cable plans IPO for expansion according to Mr. Eugenio Lopez III.

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. Lopez holdings owns 46.6% of FPHC as of December 2011.

Power Generation

• First Gen Corporation- is the holding company of First Holdings in power generation and energy related businesses. First Holdings owns 76% 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 now a wholly owned subsidiary of First Gen after the sale of the 40% interest of BG Philippines Holdings, Inc. this year.
• FGP Corp. - FGP is now a wholly owned subsidiary of First Gen after the sale of the 40% interest of BG Philippines Holdings, Inc. this year.
• 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.
• 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. As of 2011 First Gen owns over 46% of EDC.

Power Distribution

• MERALCO (Manila Electric Company) - bought in 1962, and developed into a power-distributing company. First Holdings, now owns approximately 3.9% stake in the company after selling an additional 2.66% stake to Beacon Electric Asset Holdings (Beacon) early this year. FPHC still has one (1) board seat. Beacon is owned by the First Pacific group through Metro Pacific Investments Corporation.
• 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.

Real Estate

• 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. FPHC now owns 85% of Rockwell Land after buying the shares of MPIC and SMC groups in Rockwell Land.^[2]
• 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.
• TerraPrime Inc. - Incorporated in May 2011, TerraPrime Inc. (TeP) is a co-venture between First Balfour and Estuar Development Corporation (EsDC). The company is engaged in real estate development, and has the facilities, personnel, and technical expertise required for overall management and development of condominiums, as well as for the sale and marketing of completed condominium units.^[3]

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

Other Businesses of the Lopez Group

• Asian Eye Institute
• Bayad Center
• Securities Transfer Services Inc. (STSI)
• ADTEL
• INAEC Aviation Corporation^[4]

Social Responsibility Foundations and Initiatives

• Lopez Group Foundation
• ABS-CBN Foundation, Inc.
• Bantay Bata 163
• Eugenio Lopez Foundation - formed in 1968 to give access to a private collection of books, artworks, and artifacts
• The Lopez Memorial Museum
• The OML Center for Climate Change Adaptation and Disaster Risk Management Foundation
• First Philippine Conservation - formed in 1999 to support Conservation International-Philippines
• Knowledge Channel Foundation
• Meralco Millennium Foundation
• 71 Dreams Foundation - headed by Fr. Tito Caluag, S.J.; it was formed to assist the families of the Wowowee stampede.
• Save The La Mesa Watershed
• Save the Pasig River
• Lopez Lifelong Wellness
• ABS-CBN Bayan Foundation - formerly ABS-CBN Bayan Microfinance

Former Businesses

• 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 and payphone services. As of May 2011, Lopez Holdings held 47.3% Bayan Holdings. In 2013, Ayala-led Globe Telecom took over 98% of BayanTel via a debt to equity deal.
• 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 its entire 18% stake in The Medical City to Lombard for Php600 million.
• Tollways - in 2008, First Philippine Infrastructure Development Corporation and NLEX Corporation were sold to Metro Pacific Investments 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

1. The Lopez Family: its Origins and Genealogy, edited and introduced by Oscar M. Lopez
2. Phoenix: The Saga of the Lopez Family by Raul Rodrigo
3. The Power and the Glory: the story of the Manila Chronicle 1945-1998
4. Lopez Holdings Corporation, official corporate website
5. Lopez Family Values -- Philanthropy in the Philippines as published in The Synergos Institute's Global Giving Matters
6. Lopez Link, the monthly newsletter of the Lopez Group of companies

Further reading

• Lopez Link, the Official Online Newsletter of the Lopez Group of Companies in the Philippines
• Lopez Holdings Corporation at 20: A parent to Conglomerates
• Oscar M. Lopez on turning 80 years old
• Oscar M. Lopez Timeline: Living life well
• Oscar M. Lopez Show me the Numbers
• International Association of Business Communicators (IABC) Philippines 2010 Lifetime Achievement Award in Communication Excellence in Organizations
• The Lopez Group Corporate Social Responsibility Magna Carta
• The Lopez Family story: UNDAUNTED as seen through the eyes of Oscar M. Lopez
• The Lopez Values
• The Man in the Frame (webcomic series about the life of Lopez Group founder Eugenio H. Lopez Sr.)