Ayala Corporation

Ayala Corporation

Type	Public (PSE: AC)
Founded	Manila, The Philippines in 1834
Headquarters	Makati City, The Philippines
Key people	Jaime Augusto Zobel de Ayala II, Chairman and CEO Fernando Zobel de Ayala, President and COO Mercedita S. Nolledo, Senior Counsel and Corporate Secretary Delfin Lazaro, Senior Managing Director and CEO, AC Capital
Net income	PHP12.2 billion (US$252.6 million USD) (▲49%) (2006) [1]
Website	www.ayala.com.ph

Ayala Corporation (PSE: AC) is a holding company for the diversified interests of the Ayala Group. It was founded in 1834 and is the oldest and largest conglomerate operating in the Philippines. The company has a portfolio of diverse business interests including investments in retail, real estate, banking, telecommunications, electronics, information technology, water infrastructure and management and business process outsourcing.

In the late 1800s, Ayala participated in the construction of the Colgante and the Ayala bridges and in 1888, it introduced the first tramcar service in the Philippines. Ayala was mainly responsible for the development of Makati as the financial district of the Philippines.

Ayala was recently named (2007) by Asiamoney as the country's best managed large-capitalization company.

Attached companies

The Ayala Corporation is currently the holding company for the following:

• Real Estate
  • Ayala Land, Inc. which includes Ayala Malls, Avida (formerly Laguna Properties), Alveo (formerly Community innovations), Ayala Land Premier, Ayala BusinessScapes, Ayala Hotels, Makati Development Corp. & Ayala Property Management
• Financial Services
  • Bank of the Philippine Islands
• Telecommunications
  • Globe Telecom, Inc.
• Utilities
  • Manila Water Company Inc.
• Electronics and Information Technology
  • Integrated Microelectronics, Inc.
  • Azalea Technology Investments, Inc.
• Automotive
  • Ayala Automotive Holdings Corporation
    • Honda Cars Makati, Inc.
    • Isuzu Automotive Dealership, Inc.
• International
  • Ayala International Pte Ltd
  • Integreon Managed Solutions, Inc.
• Social Commitment
  • Ayala Foundation Inc.
• BPO Call Center
  • eTelecare

Retirement of the Ayala chairman

In January 2006, the board of directors publicly announced the decision by Jaime Zobel de Ayala to retire as chairman of the corporation by April 2006. The board also announced Zobel de Ayala's appointment as chairman emeritus upon his retirement. His older son, Jaime Augusto Zobel de Ayala, is now the current Chairman and Chief Executive Officer of the corporation while his younger son, Fernando Zobel de Ayala has assumed the position of President and Chief Operating Officer. The family holding company Mermac continues to hold a majority stake in Ayala Corporation.

On September 10, 2007, Conglomerate Ayala Corp. announced that it will buy back P2.5-billion worth of its shares, raise the price of its stock and "enhance shareholder value." Its board of directors approved the creation of a share buyback program involving P2.5 billion or about 1.3% of the company's current market capitalization. Ayala Corp.'s shares declined by 2.1164 % to P462.50.^[2]

P 140 million damages

On December 21, 2007, Judge Reynaldo Daway, Branch 90, RTC, Quezon City ordered Ayala Land offshoot Avida Land Corporation (formerly Laguna Properties Holdings Inc.) to pay P140 million in damages to Filipino inventor Edgardo Vazquez, president and chief executive of Vazquez Building Systems Corp. and a former president of the Filipino Inventors’ Society. It was a copyright violation regarding a modular housing system “Vazbuilt.”^[3]

2007 Glorietta explosion

On January 22, 2008, Raul M. Gonzalez absolved Ayala Land, Inc. (ALI) (attached company of holding company for Real Estate Ayala Corporation), from liability in the 2007 Glorietta Explosion. But Gonzalez stated that Ayala Property Management, Inc. (APMC), is still under investigation.^[4]

References

External links

• Ayala Group of Companies

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