Month: May 2021

Ayala Corporation bagged the Silver Award as Asia’s Best Integrated Report and was a finalist in five other  categories at the 6^th Asia Sustainability Reporting Awards (ASRA), the most prestigious international  awards for corporate reporting.  

Due to the pandemic, the event was hosted virtually in Singapore by CSR Works and was attended by a  multitude of representatives from Asian companies who practice Sustainability Reporting. Broadcasted  live, the ceremony was attended by more than 250 business leaders and sustainability practitioners from  20 Asian countries. Special guests and dignitaries from the academe, embassies, trade associations, and  advocacy organizations were also present.  

Guests of Honour H.R. Ms. Kara Owen, British High Commissioner to Singapore, and H.E. Mr. Niclas  Kvarnström, the Swedish Ambassador in Singapore gave their welcome remarks to formally open the  ceremony. Going beyond just announcing the winners, the program included segments where ASRA  judges were featured in a string of rapid-fire questions on sustainability reporting.  

The independent panel of judges followed a rigorous multi-tier evaluation process that involves three  rounds of assessment. This ensures that the winners in every category are the best according to the  criteria for judging and comprehensive due diligence that considers the company’s reputation among their  stakeholders. For this awarding cycle, the judges reviewed a total of 494 entries from 17 countries for 19  categories. Only 102 companies from 14 countries made it to the finals. The fierce competition produced  39 winners who were awarded with gold, silver, and bronze medals and a Report of the Year award.  

Rajesh Chhabara, managing director of CSRWorks International and the founder of ASRA, notably  commented the increasing quality of sustainability reports across the region and that each year, choosing  the winners are becoming more and more challenging. This gives a positive outlook on sustainability  reporting in the region and signifies the growth and maturity of the practitioners in the field.  

President and CEO of Ayala Corporation, Fernando Zobel de Ayala, says “We are grateful, honored, and  humbled to receive the Silver award for Asia’s Best Integrated Report. This award serves as an affirmation  of our continued sustainability efforts and it reminds us to commit to and persevere in the long road  ahead. More than an award, this is a challenge to us to never cease in improving our reporting process as  we continue to uphold the highest standards of integrity and accountability.” 

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For more information, contact:  
Yla Alcantara  
Head, Brand and Reputation Management  
Ayala Corporation  
Email: alcantara.ypg@ayala.com

28 May 2021, MANILA – Four years since it last tapped the local debt market, Ayala Corporation  returns big via a debt securities program that is more than 10 times oversubscribed.  

During the virtual listing ceremony led by the Philippine Dealing & Exchange Corp., Ayala  Corporation President and CEO Fernando Zobel de Ayala said the successful issuance of the first  tranche of the company’s P30 billion debt securities program, which raised P10 billion in  proceeds, will support Ayala’s strategic priorities: strengthening and recalibrating its diverse  portfolio and repositioning the company for a post-pandemic economic recovery.

“The Ayala group has always been and continues to be an active participant of the capital  markets,” said Zobel. “During this [health] crisis, Ayala Corp., Ayala Land, BPI, Globe, Manila  Water, and AC Energy raised over P190 billion pesos in combined proceeds from the domestic  and international capital markets to allow us to take advantage of opportunities and further  solidify our balance sheet during these challenging times.”  

The oversubscription of the offering allowed Ayala Corporation to price at the lowest end of the  marketing range, carrying a coupon of 3.0260% and 3.7874% for the 3-year and 5-year tenor,  respectively. Moreover, this offering is the largest 5-year allocation among dual tranche offers  during the pandemic, a reflection of the market’s confidence in Ayala’s long-term stability and  credit strength.  

“We are delighted to see that investor interest remained high, with demand from both retail and  institutional investors reaching over P60 Billion,” Zobel added.  

Zobel, meanwhile, lauded the Securities and Exchange Commission and the PDS Group for  launching the country’s first Electronic Securities Issue Portal called e-SIP, which would eliminate  voluminous paper-based submissions and expand a company’s reach by selling securities online.  Ayala Corporation and Ayala Land were the first companies to utilize the e-SIP system.  

In his remarks, Securities & Exchange Commission Chairperson Emilio Aquino thanked Ayala  Corporation for playing an important role in realizing the “capital market’s potential to sustain  our economy’s expansion and bring growth to every Filipino.”  

“As issuers, you create legitimate investments opportunities. And through the capital market,  you make them accessible and thereby allow fellow Filipinos to share with your business success.  By pursuing your expansion projects responsibly and sustainably, more of our fellow Filipinos can  be employed and will be able to provide for and secure a better future for their families,” Aquino  added. 

In addition, Antonio Nakpil, President & CEO of Philippine Dealing & Exchange Corporation,  commended Ayala Corporation and Ayala Land for being the pioneer users of the e-SIP portal  and for their continued support to local capital markets.  

“It is fitting that the Ayala Group, led by Ayala Corp—the longest-standing supporters, constructive contributors, and most active group of issuer participants of the domestic capital market—featured prominently to bookend this month, a milestone in the digitalization timeline for the corporate bond primary market,” Nakpil said.

At Ayala Corporation’s annual stockholders meeting last month, Zobel said the Ayala Group will continue to support the expansion of its core value drivers—Ayala Land, BPI, Globe, and AC Energy. It will also support the growth of emerging businesses, Entrego and AC Health. For 2021, the Ayala Group is allocating a combined capex of P196 billion.

For more information:
YLA ALCANTARA
Head, Brand and Reputation Management
e-mail – alcantara.ypg@ayala.com

The Ayala group is coming strong in responding to the call for more effective climate related financial reporting with its business units signing as official supporters of the Task  Force on Climate-related Financial Disclosures (TCFD). Recognizing that climate change  is a universal challenge that could irreversibly devastate communities and organizations,  the Ayala group took deliberate steps in affirming its resolve, supported by initiatives to  protect and renew the environment. Now joining the more than 1,800 TCFD supporters  from 78 countries are Ayala Land Inc, Bank of the Philippine Islands, Globe Telecom Inc.,  AC Energy, Manila Water Co., and Integrated Micro-electronics Inc. – setting another  milestone for the group since its pioneering effort to report on TCFD disclosures in its  2019 Integrated Report.  

TCFD is a set of globally recognized recommendations by the Financial Stability Board  that encourages organizations to align their strategies and financial reporting to the risks  and opportunities associated with climate change. Adoption of these recommendations  helps companies build a more resilient financial system, based on more transparent  climate-related disclosures, risks, and opportunities.  

With this strengthened commitment, the newly signed-up business units of Ayala will  undergo a gap analysis against the four pillars of TCFD: Governance, Strategy, Risk  Management, and Metrics & Targets. Each organization will disclose according to the 11  recommendations and set up strategies that will ensure adherence to the four pillars.  Beyond helping investors, lenders, and insurers have a better view of the company’s  longevity and resilience, this will help Ayala navigate the financial landscape as it  transitions to a low-carbon economy.  

This bold step is in line with Ayala Corporation’s Sustainability agenda, one that is backed  by commitments of CEOs across the group:  

Ernest L. Cu, Globe President and CEO, emphasizes the responsibility they have in  ensuring they positively contribute to the environment as they serve their customers, “As  a sustainability leader, we are mindful of our impact on Filipinos and our society. That is  why we leverage our strong culture of innovation and use of technology to mitigate risks  to our business operations and protect the environment. Climate change is a global  concern that requires an ‘all of nation’ approach to manage its impact. In supporting  the Task Force on Climate-related Financial Disclosures (TCFD), Globe joins a robust  multi-sector international alliance to address climate-related risks through science-based  research, financial information, and disclosures. We invite our partner vendors, customers and the rest of our stakeholders to collectively join us in taking action on  climate change for a sustainable future.” 

BPI President and CEO, Jose Teodoro “TG” K. Limcaoco, also expresses the bank’s  aim to further integrate sustainability in the business and encourages their stakeholders,  saying, “This ongoing pandemic magnified the importance of having a strategy to create  long-term value and longevity. BPI has contributed significantly to nation-building in the  past 170 years, and we are committed to continue our role in shaping a better Philippines  by integrating sustainability into our strategies and practices. We support the Task Force  on Climate-related Financial Disclosures (TCFD) as this will help us better understand  climate-related risks, and more importantly, put us in a better position to address and  mitigate potential risks and seize opportunities. We encourage all our stakeholders,  customers, and partners to commit to responsible business practices for a more  sustainable and brighter future.”  

Manila Water President and CEO, Jose Rene Gregory D. Almendras, also sees TCFD  as an avenue to further engage with stakeholders and says, “Manila Water adopted a  climate change policy in 2007, even before a law was passed, because we knew we had  to commit to climate change adaptation efforts to ensure resilience towards situations of  ‘too much water’ and ‘too little water’ brought about by extremes in the water cycle. The  disclosure recommendations from TCFD will hopefully gain us more support from our  stakeholders in taking collective action to address this global issue.”  

Meanwhile, IMI President and CEO Arthur R. Tan says, “IMI has always been in the  forefront of pioneering ESG values in the manufacturing sector for the Philippines. As a  part of the global supply chain for the world’s top brands and products, we have been  complying and exceeding these requirements over the past decades. Our decision to  support the TCFD initiatives is a natural path for us to take and support.”  

In the field of real estate, Ayala Land President and CEO Bernard Vincent O. Dy¸  stresses the benefit of being a TCFD supporter and says, “As a real estate company  operating in the Philippines, Ayala Land has long recognized the importance of  responding to climate change. We welcome the Task Force for Climate Related Financial  Disclosures (TCFD) recommendations as these provide a clear framework on disclosing  material climate-related information. By adopting TCFD recommendations, the company  will have a more thorough understanding of climate risks and opportunities. We can then  continue to align our future investment strategies so that we can effectively transition to  a lower-carbon economy.” 

Speaking more about efforts toward a low-carbon economy, John Eric Francia,  President and CEO of AC Energy, reaffirms their commitment by saying, “AC Energy is  transitioning to a low carbon portfolio. The company will be divesting all its coal assets by  2030 and scaling up renewable investments, which is expected to exceed 5GW by 2025. In line with this commitment to sustainable investing, the company is adopting the TCFD  framework along with the Ayala group.” 

Ayala Corporation’s President and CEO, Fernando Zobel de Ayala, takes this joint effort  of the business units to support TCFD as a vital step in the group’s sustainability journey,  “This decisive effort of the Ayala group to collectively support TCFD is in line with our  aspiration to be a regional leader in the field. This is a common ground for our largely  diversified group, one that speaks of our continued commitment to transparency and  accountability. In light of the pandemic, we believe that our alignment with TCFD will help  make us a more future-ready Ayala.”  

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For more information: 
Yla Alcantara  
Head, Brand & Reputation Management  
Ayala Corporation  
e-mail – alcantara.ypg@ayala.com

AYALA CORPORATION 
1Q 2021 EARNINGS RELEASE 
May 14, 2021

Ayala’s net profit sustains sequential growth in the first quarter

 1Q21 vs 4Q20 Highlights

• Ayala’s core net income, which excludes the significant increase in BPI’s loan loss provisions and one off items such as the retroactive effect of the CREATE law and the additional remeasurement loss  taken for Manila Water, grew five percent to ₱7.2 billion in the first quarter of 2021 from the fourth  quarter of 2020. This is also at par with the core net income generated in the first quarter of 2019,  pre-pandemic.  
• This quarter-on-quarter improvement in core net income was primarily driven by Globe from stronger contribution from its home broadband segment and AC Energy from its commercial operations. 
• This cushioned the weaker performance of Ayala Land, AC Industrials, and AC Ventures. ▪ On the other hand, Ayala’s reported net income, which includes the abovementioned items, declined  seven percent to ₱5.4 billion. 
•  On the other hand, Ayala’s reported net income, which includes the abovementioned items, declined  seven percent to ₱5.4 billion.

“The challenges and prospects brought about by the pandemic is an opportune time to recalibrate Ayala’s  portfolio strategy. In the next three years, we aim to sharpen the components of our portfolio to optimize  returns and further strengthen our balance sheet. We will place greater emphasis on portfolio strategy  with a sharper focus on optimizing returns from existing businesses and a disciplined process on capital  deployment. In parallel, we will actively explore opportunities for value realization to fund future  investments,” Ayala President and CEO Fernando Zobel de Ayala said. 

1Q21 vs 1Q20 Highlights 

• Ayala’s core net income declined nine percent to ₱7.2 billion in the first quarter from the same period  last year.
• Meanwhile, Ayala’s reported net income dropped 19 percent to ₱5.4 billion:  
  •  Ayala Land recorded a 36 percent net income decline to ₱2.8 billion as the pandemic  continued to affect its business operations.
  • BPI posted a net income decline of 22 percent to ₱5 billion as a result of a one-time tax  adjustments in connection with previously booked loan provisions following the retroactive  implementation of the CREATE law. 
• On the other hand, Globe and AC Energy posted double-digit net income growth during the period:
  • Globe’s net income increased 11 percent to ₱7.3 billion from the combined effect of higher gross  service revenues, decline in non-operating charges, and significant upside from the retroactive implementation of the CREATE law. 
  • AC Energy posted a net income growth of 24 percent to ₱2.4 billion, driven by higher earnings  from both international and Philippine businesses. 

Real Estate 

•  Ayala Land’s consolidated revenues and net income decreased 13 percent to ₱24.6 billion and 36  percent to ₱2.8 billion, respectively in the first quarter of 2021 as it continued to weather the impact  of the ongoing COVID-19 pandemic.  
•  Property development revenues saw a modest decline of six percent to ₱16.2 billion, cushioned by higher bookings and construction progress.
  • Residential revenues were flat at ₱13.6 billion. 
  • Office for sale revenues surged 85 percent to ₱1.8 billion.
  • Commercial and industrial lots decelerated 67 percent to ₱818 million. 
• Residential sales reservations reached ₱28.5 billion, 15 percent higher than the previous year’s level,  as local demand remained strong despite the quarantine.  
  • First quarter sales reservations were up 35 percent from the previous quarter’s ₱21.1 billion.
• Commercial leasing revenues registered a 41 percent decline to ₱5.1 billion as operations of malls,  hotels, and resorts remained restricted. 
  • Shopping center leasing revenues went down 58 percent to ₱2 billion
  • Office leasing income improved two percent to ₱2.5 billion, driven by sustained BPO and  headquarter operations. 
  • Hotels and resorts rental revenues decreased 60 percent to ₱640 million.
• Capital expenditures reached ₱15.3 billion in the opening quarter of the year, 17 percent of full-year ₱88 billion budget.
• AREIT Inc., the country’s first Real Estate Investment Trust, recently secured the approval of its  shareholders for the property-for-share swap transaction with Ayala Land. The asset infusion,  composed mainly of ALI’s office leasing properties located within its prime estates, will expand AREIT’s leasing portfolio to 549,000 square meters and increase its deposited property value to ₱52 billion  upon securing regulatory approvals.

Banking

• BPI posted a net income of ₱5 billion in the first quarter of 2021, 22 percent lower in the same period  last year due to the net effect of one-time tax adjustments from the effectivity of the CREATE law. Net  income before taxes on the other hand grew five percent to ₱8.9 billion in the same period. 
•  Total revenues decreased two percent to ₱24.3 billion due to lower net interest income partially offset  by non-interest income growth.
  •  Net interest income dropped seven percent to ₱16.9 billion on the back of a 31-basis point  contraction in net interest margin, which stood at 3.31 percent. 
  •  Non-interest income increased 12 percent to ₱7.4 billion due to robust fee income that came  from higher fees from bancassurance, asset management, transaction banking, and  investment banking businesses.
• Total loans declined by five percent to ₱1.4 trillion because of softer demand across most loan  products, except for mortgage and microfinance which registered 11 percent growth each.  
• Total deposits were flat at ₱1.7 trillion with CASA growth of 12 percent being offset by the 34 percent  decrease in time deposits. 
  • CASA ratio stood at 82.6 percent. 
  • Loan-to-deposit ratio ended at 81.6 percent. 
• The bank recognized ₱3.6 billion in provisions, 13 percent lower in the same period last year. NPL  ratio stood at 2.76 percent and NPL coverage ratio reached 123.5 percent.
  •  Operating expenses declined two percent to ₱11.8 billion, while cost-to-income ratio improved to 48.6 percent from 49 percent in the same period last year.
• BPI launched several new products and services since the start of the year to better address the  evolving needs of its customers: 
  •  BPI customers can now open a dollar savings account through the BPI mobile app as an  addition to their existing peso account.
  •  BPI now uses mobile keys for select mobile transactions to enhance security and efficiency. ▪ The bank’s digital platform now allows users to transfer funds to other banks using QR codes,  mobile numbers, and email addresses.
  • Through a digital order taking facility, clients can now avail of select loans and credit card  services purely through BPI’s digital platform. 
  • On the corporate side, BPI launched a fully digital auto-debit platform that shortens billers’  collection period for enrolled clients from 20 banking days to just one banking day.

Telco

• Globe’s net income increased 11 percent to ₱7.3 billion in the first quarter of 2021 as the decline in  non-operating charges fully offset the rise in depreciation expenses. Additionally, the improvement  in net income was a result of lower taxes from the retroactive impact of CREATE law.
  •  Excluding the impact of CREATE law, normalized net income decreased 27 percent to ₱5  billion.
• Total service revenues grew three percent to ₱37.8 billion driven by data revenues led by mobile data  and home broadband. Total data revenues accounted for 79 percent of total service revenues, a  growth of 400 basis points from the same period last year.
• Growth in data was present in all segments, most evident in the upward momentum of Globe’s mobile data and home broadband categories.
  • Mobile data revenues increased four percent to ₱19.2 billion. 
  •  Mobile data traffic climbed 60 percent to 836 petabytes.
  •  Home broadband revenues soared 27 percent to a record ₱7.4 billion.
  • Home broadband subscriber base grew 81 percent to over 4 million customers. ▪ Corporate data increased by ₱13 million from ₱3.3 billion in the same period last year. 
• EBITDA dropped 11 percent to ₱18.3 billion on the back of higher expenses across expense line items except for interconnection fees and repairs and maintenance. 
  •  Operating expenses including subsidy grew 19 percent to ₱19.5 billion.
  • EBITDA margin consequently contracted to 48 percent from 56 percent last year.
• Capital expenditures surged 79 percent to ₱19.1 billion, representing 51 percent of gross service  revenues and 105 percent of EBITDA. Moreover, 91 percent of the investment went primarily to data related requirements. 
• As a result of continuous modernization of its network to make 5G as well as fiber technology available  to more customers nationwide, Globe improved its data infrastructure versus the same period last  year:
  • New cell towers ramped up to 318, an improvement of 152 percent 
  • Builds for sites for wireless 4G LTE and 5G reached 4,210 sites, a growth of 106 percent 
  • Installed over 287,000 high-speed lines, an increase of 212 percent

Power

• The AC Energy group registered a net income growth of 24 percent to ₱2.4 billion in the first quarter  of 2021, driven by higher earnings from both international and Philippine businesses. Contribution from the group’s international assets increased 61 percent to ₱952 million driven by fresh contribution  from the Vietnam wind farm, and higher interest income on development loans. Net income  contribution from its listed subsidiary, AC Energy Corporation or ACEN grew 24 percent to ₱628 million due to better results from its commercial operations, higher contribution from renewables,  and improved thermal availability. 
• The AC Energy group is in the process of transforming its listed subsidiary ACEN to become the  group’s main energy platform. ACEN’s recapitalization consists of fresh capital raising of ₱27.5 billion  from the recently concluded ₱5.4 billion Stock Rights Offering last January, the ₱11.9 billion private  placement to GIC affiliate Arran Investment that was completed last March, and proceeds worth ₱10.3  billion from the follow-on offering which is expected to be completed with the listing of 1.58 billion  primary shares on May 14.
• The transformation also includes the infusion of the AC Energy group’s international platform into  ACEN, in a deal valued at ₱85.9 billion. The shareholders ratified the deal during its Annual  Stockholders meeting last April 19. The transaction is currently undergoing regulatory approval  process, with target completion by the end of 2021. 
• Upon the completion of its transformation, ACEN will have approximately 2,500MW of attributable  capacity, of which around 1,900MW or 78 percent is from renewables sources. AC Energy’s vision is  to reach 5GW of renewables capacity by 2025, and it aspires to be the largest listed renewables  platform in Southeast Asia. 

Water

• Manila Water’s net income declined eight percent to ₱1.3 billion in the opening quarter of 2021 from  the combined effect of lower billed volume across the group and lower supervision fees, coupled with  recognized net foreign exchange gains that were partially offset by lower equity share in net income  of associates. Excluding one-offs, net income declined 32 percent to ₱1.3 billion.
• Revenues decreased 12 percent to ₱4.9 billion due to lower billed volume and lower supervision fees,  which continue to be impacted by the COVID-19 health crisis.
• EBITDA declined five percent to ₱3.2 billion despite a decrease in cost of service and operating  expenses. EBITDA margin improved 500 basis points to 67 percent.
• In March 2021, Manila Water executed a Revised Concession Agreement with government for the  operation of the waterworks and sewerage services in the East Zone. The revised agreement confirms  the continuation of the concession until July 31, 2037. Largely adopting the New Clark City Joint  Venture Agreement framework, the agreement has several key features such as the setting of a fixed,  nominal rate of return, the removal of corporate income taxes from tariff collection, discontinuation  of the foreign currency differential adjustment, and the setting of tariff caps for rate adjustment. The  Revised Concession Agreement will be covered by an Undertaking Letter and service obligations will  be adjusted in line with the new standards defined under the agreement. To help alleviate customers’ plight amid the challenges brought by COVID-19, the Revised Concession Agreement includes a tariff  freeze until December 31, 2022.

Industrial Technologies 

• AC Industrials narrowed its net loss to ₱200 million in the first quarter of the year on the back of  improved contributions across its global manufacturing businesses and local automotive operations. 
• From a net loss in same period last year, IMI recorded a net income of US$2.2 million in the first  quarter amid tight supply levels in the electronics component market.  
  •  Revenues increased 28 percent to US$328 million from improved demand compared to the  same period last year, which was heavily impacted by the first stages of the global health crisis.
  •  Similarly, top line from its wholly owned businesses grew 22 percent to US$255 million with  the continued recovery of mobility and industrial end-markets.
  • IMI’s non-wholly owned subsidiaries posted a revenue growth of 55 percent to US$73 million  as it transitions towards high growth automotive and industrials customers.
• AC Motors significantly reduced its net loss to ₱39 million as demand in the Philippine automotive  market continues to improve. Sales across its automobile portfolio, which includes Honda, Isuzu,  Volkswagen, Kia, and Maxus exhibited quarter-on-quarter growth during the period.

Balance Sheet Highlights 

• Parent level cash stood at ₱20.6 billion.
• Net debt stood at ₱104.5 billion. 
• Parent net debt-to-equity ratio stood at 80 percent.
• Consolidated net debt-to-equity stood at 62 percent.
• Loan-to-value ratio, the ratio of its parent net debt (excluding the fixed-for-life perpetuals which have  no maturity) to the total value of its assets, was at 10.7 percent.
• Parent-only CAPEX stood at ₱2.6 billion, bulk of which went to the newer businesses of Ayala. 
• On May 11, 2021, Ayala Corporation priced the first tranche of its ₱30 billion Debt Securities Program  and is currently applying for a Certificate of Permit to Offer Securities for Sale of the first tranche  under the said program. The first tranche has an aggregate principal amount of up to ₱10 billion, with  a base offer of up to ₱6 billion and an oversubscription option of up to an additional ₱4 billion. The  first tranche consists of 3.0260% Series A Bonds due 2024 and 3.7874% Series B Bonds due 2026. The  indicative offer period will run from May 17 to 21, 2021 and the Bonds are intended to be issued and  listed at the Philippine Dealing & Exchange Corporation on May 28, 2021, subject to market  conditions and receipt of regulatory approvals.

 

7 May 2021 – The Ayala group of companies officially turned over to Marinduque the province’s  first and only molecular lab which is expected to drastically cut down the current 7 to 14 day  waiting period for Covid testing done through Manila-based laboratories.  

Housed within the Marinduque Provincial Hospital in the municipality of Boac, the laboratory was  designed and constructed under the supervision of AC Health and Ayala Foundation, with the  assistance of Makati Development Corporation, the construction arm of Ayala Land Inc.  

Since the pandemic started, Marinduque depended on laboratories in Metro Manila, particularly  the Research Institute for Tropical Medicine, to confirm COVID-19 cases. Because of the relative  isolation of the island province and its distance from testing laboratories, cases often took over  a week or more to confirm, which posed a challenge to local efforts to contain the spread of the  virus. Once operational, the new molecular laboratory will significantly improve and speed up  the testing capacity of the province.  

The new facility was received by Marinduque Governor Presbitero Velasco Jr. in a virtual turnover  event. Representing the Ayala group were Paolo Borromeo, President and CEO of AC Health; Ruel  Maranan, President of Ayala Foundation; and Solomon Hermosura, Chief Legal Officer of Ayala  Corporation.  

The Marinduque molecular laboratory is part of the Ayala group’s continuing initiatives that sup port the public sector’s COVID-19 efforts, particularly in improving testing capacity. In the past  year Ayala constructed laboratories and quarantine facilities, provided testing equipment, and  donated testing kits, among others.  

“This molecular laboratory is a very vital tool for Marinduque to be able to contain and eventually  defeat the very deadly virus,” said Gov. Velasco. “We were very glad [when the proposal] to set  up the molecular laboratory was relayed to us. Now we have the laboratory constructed. Indeed  this is a very important step in our plan to contain and eventually rid the province of the deadly  virus.”  

“AC Health and the Ayala Group are delighted to partner with the Province of Marinduque,” said  Borromeo. “Testing is a vital component of the country’s public health response, and we are  happy to support Marinduque’s initiatives to improve access to testing. We believe that the pub lic and private sectors must work together to beat this virus, save lives, and accelerate recovery.” 

“It is our privilege to partner with the Provincial Government of Marinduque for meaningful and  relevant initiatives like the molecular laboratory project, as well as various education and com munity programs,” said Maranan. “We continue to stand with the people of Marinduque, as they  stay resilient in the face of various challenges.”  

Aside from constructing the molecular laboratory, the Ayala group also provided various forms  of assistance for students, teachers, and health front-liners in Marinduque in the past month. 

Under the Brigada ng Ayala program, Ayala Foundation distributed at least 675 hygiene kits, 100  Globe Home Prepaid WiFI kits, and 4,000 children’s books (from a donation by UBS Securities  Philippines.), to be used by students and teachers from Boac Central School and 10 public ele mentary schools in the town of Torrijos. Teachers and students also received vitamin supple ments. Brigada ng Ayala is the Ayala group’s unified support for the Department of Education’s  Brigada Eskwela and Oplan Balik Eskwela programs.  

The foundation also turned over 1,250 face masks and 250 personal protective equipment (PPEs)  for use by health front-liners at the Marinduque Provincial Hospital.  

In addition, the town of Torrijos is one of the sites for ProFuturo, a digital education program  implemented in the Mimaropa region by Ayala Foundation. ProFuturo, which is implemented in  10 public elementary schools in Marinduque, uses digital technology to provide access to quality,  transformational, and universal education, and through it, access to equal opportunities for students. It focuses on enhancing teachers’ skills, methods, and competencies, and leveraging on  digital technologies.  

For more information:  

YLA ALCANTARA
Head, Brand and Reputation Management
Ayala Corporation
e-mail – alcantara.ypg@ayala.com

CELERINA AMORES
Senior Director, Corporate Communications 
Ayala Foundation
e-mail – amores.cr@ayalafoundation.org