Ayala Corporation

GNPower Kauswagan Ltd. Co. (GNPK), the joint venture company between AC Energy Holdings, Inc. (AC Energy), the power unit of conglomerate Ayala Corporation, and Power Partners Ltd. Co. (PPLC), engaged Shanghai Electric Power Construction Co. (SEPCC), a subsidiary of Power Construction Corporation of China, for the engineering, procurement and construction (EPC) of a US$1 billion-thermal facility in Kauswagan, Lanao Del Norte.

Ayala Corporation’s (Ayala) net income in the first quarter of 2014 grew by 22% to P5.5 billion. The strong growth was driven by its real estate, telecom, water and international businesses and was boosted by a P1.8 billion capital gain from the sale of Stream Global Services, Inc., one of its investee companies under its business process outsourcing unit.

Countries, like companies, compete. Nations compete for investments, trade, trade in services, and tourists.

Ayala Corporation's net income in the first half of the year reached P9.8 billion, 34% higher than same period last year. The strong growth was driven by the solid performance of its core businesses, particularly Ayala Land, Globe Telecom, and Manila Water. Equity earnings from Globe, which quadrupled year-on-year, more than offset the decline in the contribution of banking unit, Bank of the Philippine Islands (BPI), which registered lower trading gains in the first half of this year.

AC Infrastructure Holdings Corporation and Aboitiz Land, Inc., members of the Team Orion (Orion) consortium that submitted the highest complying bid for the Cavite-Laguna Expressway Project, together filed with the Office of the President a Comment on the Memorandum of Appeal put forward by Optimal Infrastructure Development, Inc. (Optimal) last June 27, 2014.

At its annual stockholders’ meeting held today, Ayala Corporation Chairman and CEO Jaime Augusto Zobel de Ayala announced that the Ayala group plans to spend P187 billion in capital expenditures in 2014. This is a record amount of investments for the group, surpassing the previous year’s P128 billion. The bulk of this will support Ayala Land’s expansion, Globe Telecom’s on-going network improvements, and Manila Water Company’s service improvements, as well as to fund the conglomerate’s expansion in power and transport infrastructure.

April 10, 2014—Ayala Corporation (PSE:AC) (the “Company”), one of the largest conglomerates in the Philippines, announced today the pricing of the offering by AYC Finance Limited, a wholly owned and guaranteed subsidiary of Ayala Corporation, of US$300,000,000 aggregate principal amount of its 0.50% bond due 2019 (the “Bonds”) exchangeable for common shares of Ayala Land, Inc. (“Ayala Land”).

Ayala Corporation’s consolidated net income in 2013 expanded by 22 percent to P12.8 billion on the back of sustained robust performance of its real estate and banking businesses. Without the impact of the accelerated depreciation from its telecom unit’s network transformation initiative, Ayala’s core net income jumped even higher to P14.8 billion, a 28-percent improvement from a year ago.

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    Ms. Emily C. de Lara
    Head, Corporate Communications
    Ayala Corporation
  • (+632) 908-3456
  • (+632) 848-5764
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