Ayala Corporation

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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.[1] 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.[2]

In 2011, Ayala began building its renewable energy portfolio, beginning with a joint venture with Mitsubishi for solar power and Sta. Clara Power for run-of-the-river hydro power, and the purchase of the iconic Northwind farm for wind power. Ayala will contribute 1000 MW to the Philippine power supply, by 2015.[3] 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

  • Alveo Land
  • Ayala Land Inc.
    • AyalaLand Logistics Holdings Corp. (ALLHC)
    • Makati Development Corp. (MDC)
  • AG Holdings, Ltd.[4][5]
  • Avida Land [6]
  • Amaia Land [7]
  • Bellavita
  • Portico Land Corp. - joint venture with Mitsubishi Corporation [8]
  • 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.[9]
  • 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).[10]
  • 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.[11]

Financial services

  • Bank of the Philippine Islands (Banco Español-Filipino de Isabel II or Banco Español-Filipino)
    • BPI Family Savings Bank, thrift/savings bank of BPI.
    • BPI BanKo (BPI Direct BanKo), SME/microfinance oriented savings bank of BPI.

Telecommunications

Utilities

Power and transport

Manufacturing and automotive

Social infrastructure

Nonprofit organizations

  • Ayala Foundation[43]
    • CENTEX[44]
    • Ayala Museum[45]
    • Philippine Development Foundation[46]
    • Ayala Technology Business Incubator[47]
    • Filipinas Heritage Library[48]
    • Ayala Social Initiatives[49]

Business process outsourcing, Logistics and Digital businesses

Divestment

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.[59]

References

  1. (May 1, 2005) Basques in the Philippines. Nevada: University of Nevada Press. ISBN 0874175909. 
  2. "Asia's best managed companies: Indonesia and the Philippines" Archived 2011-05-11 at the Wayback Machine, Finance Asia
  3. "Ayala Corp Builds Renewable Energy Portfolio with Run-of-the-River Hydropower" Archived April 23, 2011, at the Wayback Machine, The Philippine Daily Inquirer
  4. Charles H. Cosgrove J.D.: Executive Profile & Biography - Businessweek.
  5. Philippine Ayala Corp eyes Chinese, Indian real estate markets_English_Xinhua.
  6. Avida Properties in Vermosa Cavite, Avida Verra Settings.
  7. Amaia Properties in Vermosa Cavite, Amaia Series in Vermosa Cavite.
  8. Japan's Mitsubishi taps Ayala Land for Ortigas property venture.
  9. Ayala Land, Ortigas group seal P15B deal.
  10. Why Ayala, Aboitiz, Sy, Tan formed 'Team Trident'.
  11. Cathy Yang. DPWH mulls bid submission extension for Laguna Lakeshore PPP.
  12. Archived copy.
  13. Archived copy.
  14. Remo, Amy R.. AC Energy of Ayala group to invest $200M in 2013.
  15. Kathleen A. Martin. Ayala Corp. allots up to $700-M for energy projects.
  16. Ayala to build 405-MW plant.
  17. Camus, Miguel R.. Gov’t expected to award P65-B LRT project to Ayala-MPIC group next week.
  18. Agcaoili, Lawrence. Gov’t, MPIC-Ayala sign deal for MRT-LRT single ticket system.
  19. Ayala Corp enters logistics business with Entrego (October 25, 2018).
  20. Ayala Corp. posts P7.3B net in first 9 mos., up 7%.
  21. OECD, Organisation for Economic Co-operation and Development (2001). Corporate Governance In Asia: A Comparative Perspective, OECD Proceedings Series. OECD Publishing. ISBN 9789264183285. 
  22. Integrated Micro-Electronics, Inc. (IMI) - IMI.
  23. Mercurio, Richmond S.. Ayala-led IMI aims for billion dollar revenues.
  24. Archived copy.
  25. Archived copy.
  26. Archived copy.
  27. Honda Cars Cebu Inc..
  28. Archived copy.
  29. Library unavailable - 0007.
  30. Ayala Corporation (PSE:AC). The Philippine Builder.
  31. Liza Reyes. Ayala group brings back VW; Beetle in 2014.
  32. China’s Maxus enters Philippines auto market.
  33. Dumlao-Abadilla, Doris. Ayala buys Silicon Valley-based solar tech firm.
  34. Ayala buys German auto parts maker MT Misslbeck Technologies.
  35. Ayala Health.
  36. FamilyDoc.
  37. Ayala enters e-commerce through Zalora Philippines.
  38. About Us - QualiMed Health Network.
  39. Ayala Education, Inc. Invests in University of Nueva Caceres | Ayala Group News Center (July 31, 2015).
  40. APEC. Pearson PLC.
  41. "Tuition in new private schools: 'P65 a day'", May 16, 2014. 
  42. PEP - Professional Employment Program.
  43. In Honor of the Iconoclast | The Manila Bulletin Newspaper Online.
  44. Archived copy.
  45. The Ayala Museum Makati City.
  46. Archived copy.
  47. Archived copy.
  48. INQUIRER.net. Cultural advocate to speak at Filipinas Heritage Library’s workshop.
  49. Archived copy.
  50. BusinessWorld - Ayala subsidiary exits BPO company.
  51. Pamintuan, SKETCHES By Ana Marie. Strength in unity.
  52. Miguel R. Camus. Ayala's BPO unit expects to post profit as it expands.
  53. ${Instrument_CompanyName} ${Instrument_Ric} Key Developments.
  54. Ayala BPO unit buys LA outsourcing firm.
  55. EDITORYAL - Kulang na naman ang mga classroom?.
  56. Integreon buys Grail Research; eyes more.
  57. Archived copy.
  58. Ayala Corp.'s LiveIt and partners sell stake in Stream Global to Convergys.
  59. "Zobel retires as Ayala chairman," Manila Bulletin, January, 2006 Archived copy.

External links