A. Soriano Corporation

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A.Soriano Corporation (PSE: ANS), also known as Anscor is a publicly-listed holding company for the various businesses of the Soriano family which includes aviation, manpower services, broadband services, real estate and tourism. The company was founded in 1930 by Colonel Andres Soriano, who used to be the richest man in the Philippines. Andres Soriano, III is the concurrent Chief Executive and the Chairman of the board of the company. As of December 9, 2010, Anscor has a total market capitalization of P7.8 billion and its share price is P3.14.

Contents

History

Anscor was founded by Colonel Andres Soriano in 1930. Soriano’s family is one of the richest and most influential families in the Philippines in the 20th century. Early on, the business interest of the company were Atlas Consolidated Mining and Development Corporation, Phelps Dodge Philippines and Atlas Fertilizer Corporation.

In 1973, the company had its outstanding shares listed in the Philippine Stock Exchange. It was also during in the 70s that the company ventured into financial services that included Provident Insurance Corporation, AB Capital and Investment Corporation and AsianBank. The company also diversified its businesses and invested in International Container Terminal Services, Incorporated (ICTSI) and Amanpulo Resort in the 1990s.Eventually, Anscor divested its investments in mining, fertilizer, manufacturing and financial services.

In the late 1990s, the thrust of the management was export services through SPI Technologies, Incorporated and Quality Manpower Services, Incorporated. Anscor also partnered with other companies and established the Multi-media Telephony, Inc.(Broadband Phils).

In 2006, Anscor divested in its ICTSI investment and sold its share to Enrique Razon, Jr.. Likewise, the company also sold its shares in SPI Technologies, Inc.

Affiliates and Subsidiaries

Phelps Dodge Philippines Energy Products Corporation

PDPI is the parent company of PDP Energy and the leader in manufacturing of quality wires and cable. The company was incorporated in 1955 and is a partnership between the second largest wire and cable manufacturing in the world, GCC and Anscor, in which the latter owns 40%. PDPI engaged primarily in the production of copper-based wires and cables including building wires, telecommunication cables, power cables, automotive wires and magnet wires.

Seven Seas Resorts and Leisure, Incorporated

Seven Seas Resorts was incorporated in 1990 as Anscor entry into the tourism industry. Its primary purpose is developing, operating and promoting a portion of the Pamalican Island as a world class resort named Amanpulo. Seven Seas Resort is a joint venture between Anscor, Palawan Holdings, Aboitiz and Company and other holding companies of the Soriano family. Anscor owns 46% of Seven Seas Resort.

Amanpulo was named 4th Best Resort in South East Asia by Gallivanter’s Guide and was listed among the Top 20 Beach Resorts by Andrew Harper’s Hideaway Report, USA Readers Choice in 2009.

International Quality Manpower Services, Incorporated

IQMAN is 93%-owned by the Sutton Place Holdings, Incorporated, a subsidiary of Anscor. It was incorporated in 1999 to engage in the business of recruiting overseas workers particularly Filipino nurses. In 2004, IQMAN acquired 100% ownership in International Quality Healthcare Professional Connection, L.L.C., America.

KSA Realty Corporation

KSA Realty Corporation is 11%-owned by Anscor which it acquired after exchanging an old building for ownership in the company. KSA Realty is the developer of PEZA-registered The Enterprise Center at the corner of Paseo de Roxas and Ayala Avenue in Makati.

Enderun Colleges, Incorporated

In 2008, Anscor acquired 20% stake in Enderun Colleges, Inc. Enderun College was established in 2005 by senior executives of Hyatt Corporation USA and the school offers bachelor’s degree and non-degree courses in hospitality management, culinary arts and business.

The school has a joint venture with Tsinghua Unigroup in Beijing, China, that offers three-year certificates in hospitality management and career-oriented vocational programs in food and beverage and housekeeping. In 2009, Enderun opened a state-of-the –art culinary building at McKinley Hills, Taguig.

A Soriano Air Corporation

A Soriano Air Corporation (ASCA) is a 100%-owned subsidiary of Anscor that provides common and private carrier. In 1995, ten years after its incorporation, ASAC transferred its license to Island Aviaiton, Inc. In 2003, ASAC resumed its operation. Island Aviation is the exclusive air service provider of Seven Seas Resorts/Amanpulo Resort.

External links

Citation

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