Ayala group honors BFP by holding ‘firefighter appreciation day’

“On behalf of a grateful nation and an appreciative government, I thank with all my heart Ayala Corporation President & Chief Executive Officer Fernando Zobel de Ayala and the entire Ayala group for recognizing the contribution and services of our servicemen who work tirelessly and put their selves in harm’s way to protect the land and serve the Filipino people,” Año said

MANILA — Just in time for the National Fire Prevention Month, Ayala Corporation signed a Memorandum of Understanding with the Bureau of Fire Protection to strengthen partnership and bolster support to the country’s firefighters through the Saludo sa Serbisyo program.

Present during the MOU signing on Thursday were DILG Secretary Eduardo Año, DILG Undersecretary for Public Safety Nestor Quinsay, Jr., BFP Chief Louie Puracan, Ayala Corporation President & CEO Fernando Zobel de Ayala, Public Affairs Group Head Rene Almendras, Corporate Governance Group Head Solomon Hermosura, Security and Crisis Management Head Manny Bautista, and other officers from the Ayala group and the BFP.    

“Aside from the Saludo sa Serbisyo program, the corporation has been providing educational assistance to children of soldiers killed in action or totally incapacitated while in the line of duty,” DILG Sec. Año said. “Since 1988, Ayala and other industry leaders through the Hero Foundation were able to support the education of the children of our fallen soldiers. Ganoon na po natin katagal kasangga ang Ayala, libo-libo na pong sundalo ang kanilang natulungan.”

Ayala Corporation and Ayala Land each give a donation of P2.5 million yearly. The educational stipend from the foundation helps orphaned students pay for school-related expenses. With the help of the private sector, Hero Foundation has supported and served a total of 2,702 orphan scholars since 1988.  

Meanwhile, through the Saludo sa Serbisyo program, the country’s uniformed personnel receive expanded access to the group’s products and services, enabling them to pick the best support they need in every milestone of their lives.  

“The fire service is one of the riskiest professions. While our men sacrifice their safety, at the end of the day, what they earn is just enough for food and necessities for the family,” BFP Chief Puracan said. “The Saludo sa Serbisyo Program supports this cause. This wide array of products and activities can help our firefighters plan, invest and be more responsible with their resources.”

Saludo sa Serbisyo provides offers on housing and vehicles, and it hosts a venue for financial education and livelihood training as well as health and wellness caravans. It also hopes to provide employment opportunities in various business units across the Ayala Group to BFP retirees and their qualified dependents.  

“Let me take this opportunity to express the Ayala Group’s deepest thanks to the brave men and women of the Bureau of Fire Protection for your selfless service.  We thought that it would be appropriate to pay tribute to our courageous firefighters during Fire Prevention Month through the Saludo Sa Serbisyo program,” Zobel said. “With the signing of this MOU, we mark this day as Firefighter Appreciation Day for the entire Ayala Group.”

In previous years, the Armed Forces of the Philippines and the Philippine National Police have also signed up to Saludo sa Serbisyo.


For more information:

Head, Brand and Reputation Management
Ayala Corporation
e-mail – publicaffairs@ayala.com

#AtletangAyala: Ayala, DLSU to offer scholarships to qualified national athletes; Dealine of application extended

MANILA – The Ayala Center for Excellence in Sports (ACES) and the De La Salle University (DLSU) signed today a Memorandum of Agreement (MOA) in support of the #AtletangAyala, a program that seeks to assist Philippine national athletes during their athletic and post-athletic careers.

Under the MOA, DLSU will provide scholarships for Atletang Ayala national athletes who would like to continue their education. The MOA will enable these athletes to matriculate in DLSU’s world-class programs, eventually earning degrees that will support their career development.

“We are happy to partner with the Ayala Group of Companies in support of the Filipino national athlete,” said Bro. Bernard Oca, DLSU president. “De La Salle University has been very blessed to count many illustrious national athletes among its alumni, such as Lim Eng Beng and Ian Lariba. We are proud to be able to continue that tradition, this time in partnership with ACES.”

ACES Program Director Jan Bengzon said, “We are very grateful to have DLSU as the education partner for the Atletang Ayala program. DLSU has long been an innovator in the development of world-class curricula that are delivered in ways that suit athletes’ lifestyles and requirements without compromising its high academic standards. These qualities fit seamlessly with the Atletang Ayala program, and DLSU’s scholarships will be a much-needed benefit for program athletes.”  

Interested athletes may apply here: https://bit.ly/AtletangAyala. Deadline is extended to April 1.

For more information, please contact ACES via the following email address: aces@ayala.com   


Ayala posts 62 percent earnings growth in 2021

Ayala Logo

FY21 vs FY20 Highlights

• Ayala Corporation’s net profits grew 62 percent to ₱27.8 billion in 2021, primarily driven by realized income from the execution of strategic initiatives in the group, boosted by the improved performance of Ayala Land and BPI.

• Ayala posted gains from executed transactions during the year, including the remeasurement of its stake in Manila Water following the sale of secondary shares to Trident Water, the sale of the Ayala group’s stake in GNPower Kauswagan, and the entry of a new investor in Mynt.

“We continue to see an improvement in the business environment with better mobility and ability of both enterprises and consumers to adjust to disruptions. With the recent de-escalation of quarantine measures to the lowest status, we are hopeful that 2022 will be the start of our country’s recovery. The Ayala group aims to continue its investment programs and for 2022, we have allocated up to ₱285 billion in combined capital expenditure and investments to execute on the growth initiatives across our businesses,” Ayala President and CEO Fernando Zobel de Ayala said. “We are, however, mindful of the impact of the Russia-Ukraine conflict on our recovery and investment programs. In particular, we are carefully monitoring how the surge in oil prices would affect domestic interest rates, inflation, and the global supply chain,” Mr. Zobel noted.  

• Ayala’s businesses recorded higher net profits during the year:

  • Ayala Land’s net income grew 40 percent to ₱12.2 billion on the account of resilient operations, supported by relaxed quarantine restrictions in the fourth quarter of 2021.
  • BPI’s net income increased 12 percent to ₱23.9 billion because of lower loan loss provisions and record-high fee income.
  • Globe’s net income rose 27 percent to ₱23.7 billion from higher results from all data-related revenues, gain from the deemed sale of investment in Mynt, and the impact of the CREATE law. These offset the impairment costs from the network related damages caused by Typhoon Odette.
  • ACEN’s net income increased 22 percent to ₱5.3 billion as robust earnings from its international assets supported softness in Philippine operations.

• Excluding gains and other one-offs, Ayala’s core net income decreased 10 percent to ₱23.5 billion, mainly driven by weaker net interest income in BPI, higher depreciation expense in Globe, and reduced stake in ACEN following the completion of its capital market issuances and sale of secondary shares to GIC combined with higher financing cost taken up at the AC Energy parent level.

4Q21 vs 4Q20 Highlights

• Ayala’s net income grew 46 percent to ₱8.4 billion in the fourth quarter compared to the same period in the previous year, also driven by the abovementioned realized gains.

Real Estate

• Ayala Land’s total revenues increased 10 percent to ₱106.1 billion and its net income grew 40 percent to ₱12.2 billion on the account of resilient operations, supported by relaxed quarantine restrictions in the fourth quarter of 2021.

• Property development revenues were up 14 percent to ₱75.9 billion on continuing construction progress and higher bookings.

• Residential sales reservations in 2021 grew 13 percent to ₱92.2 billion largely from the strong demand for horizonal projects in Southern Luzon by Ayala Land Premier and ALVEO. Sales reservations from lot sales alone jumped 36 precent to ₱41.5 billion during the year.

  • Fourth quarter sales take-up posted a five percent growth to ₱22.1 billion compared to the same quarter in 2020.
  • Ayala Land launched a total of 22 projects worth ₱75.3 billion, seven times more in 2020.

• Commercial leasing revenues declined five percent to ₱20.6 billion given limited operations most of the year.

  • Shopping center leasing revenues went down 13 percent to ₱7.9 billion. With improved mobility in the fourth quarter, revenues reached ₱3 billion, double the level generated in the same quarter a year ago.
  • Office leasing income grew five percent to ₱9.9 billion as BPO and HQ operations remained stable throughout the period.
  • Hotels and resorts revenues decreased 12 percent to ₱2.8 billion, improving from the first nine months as resort operations were able to host 35 travel bubbles in the fourth quarter, partially cushioning travel restrictions and lower hotel occupancy earlier in the year.

• Ayala Land’s capital expenditures reached ₱64 billion in 2021, more than half of which went to the completion of its residential projects.

• Ayala Land has earmarked ₱90 billion in capital expenditures and is prepared to launch ₱100 billion-worth of residential projects in 2022.

• In January 2022, the Boards of Ayala Corporation and Ayala Land approved the property-for-share swap with each other and Mermac, Inc. Under the transaction, AC and Mermac will transfer five assets to ALI in exchange for 311,580,000 primary common shares at a value of ₱55.80 per share, as validated by a third-party fairness opinion. The acquisition further expands Ayala Land’s land bank and commercial assets, which will create value for stakeholders.


• BPI’s net income increased 12 percent to ₱23.9 billion because of lower loan loss provisions and record-high fee income.

• Total revenues decreased four percent to ₱97.4 billion because of softer net interest income and non-interest income.

  • Net interest income was down four percent to ₱69.6 billion as net interest margin contracted by 19 basis points to 3.3 percent, driven by lower yields across most loan portfolios and treasury assets.
  • Non-interest income went down six percent to ₱27.8 billion on the back of lower trading income that was tempered by a 23 percent growth in fee income.

• Total loans rose five percent to ₱1.5 trillion primarily from higher mortgage, credit card, and microfinance loans.

• Total deposits grew 14 percent to ₱2 trillion with CASA and time deposits expanding 10 percent and 28 percent, respectively.

  • CASA ratio stood at 77 percent.
  • Loan-to-deposit ratio ended at 75.5 percent.

• NPL ratio stood at 2.49 percent and NPL coverage ratio settled at 136.1 percent. These improved by 19 basis points and 21 percentage points, respectively.

• Operating expenses increased five percent to ₱50.7 billion because of higher technology cost.

  • Cost-to-income ratio stood at 52.1 percent.

• Total assets grew eight percent to ₱2.4 trillion. Total equity amounted to ₱293.1 billion.

  • Indicative common equity tier 1 ratio stood at 15.8 percent.
  • Indicative capital adequacy ratio stood at 16.7 percent.
  • Return on assets was 1.1 percent.
  • Return on equity was 8.4 percent.

• In line with the increased demand for banking services in the digital space, BPI created its digital governance framework and launched its 7 Client Engagement Platforms in 2021 to better serve its clients across different segments.

  • On top of its four existing platforms Express Online, BPI Trade, BizLink, and BanKo app, BPI is on track to launch BizKo for its SME partners. BizKo is tailored to the needs of SME clients providing them solutions for payments, payroll, invoicing, billing, and collection.
  • BPI is also working on the sixth and seventh installments of the framework, which are both slated to be launched in the second half of 2022. BPI will also launch its BPI Trade app within the year.


• Globe’s net income rose 27 percent to ₱23.7 billion from higher results from all data-related revenues, gain from the deemed sale of investment in Mynt, and the impact of the CREATE law. These offset the impairment costs stemming from Typhoon Odette.

  • Lower non-operating expenses were mainly due to the gain of ₱4.3 billion from the deemed sale of investment in Mynt, partially offset by the impairment cost of ₱1.2 billion from the network related damages caused by Typhoon Odette. These also include the upside impact of the CREATE law and higher equity share in affiliates.

• Globe’s core net income, which excludes the impact of non-recurring charges and foreign exchange and mark-to-market changes, increased nine percent to ₱21.2 billion.

• Total service revenues grew four percent to ₱151.5 billion due to home broadband and corporate data from increased data consumption. Total data revenues accounted for 80 percent of Globe’s service revenues compared to the year-ago level of 76 percent.

• Growth in demand for data was evident in the upward momentum of all data-related segments of Globe.

  • Mobile data revenues increased seven percent to ₱77.8 billion.
  • Mobile data traffic jumped 48 percent to 3,733 petabytes.
  • Home broadband revenues grew 10 percent to a record-high ₱29.4 billion.
  • Home broadband subscriber base stood at 3.7 million subscribers as fixed wired subscribers grew by 31 percent, leading to a 26 percent improvement in fixed wired revenues. Fixed wireless subscribers declined 11 percent as users shift out of the fixed wireless service to the more consistent and reliable wired service.
  • Corporate data revenues grew 12 percent to ₱14.2 billion mostly from growth from domestic services and information and communication technology.

• Operating expenses including subsidies increased five percent to ₱76.6 billion due to higher spending to support its aggressive upgrades and expenses related to restoration, repair, and services costs resulting from Typhoon Odette.

• EBITDA increased two percent to ₱74.9 billion due to topline improvement while EBITDA margin slightly contracted to 49 percent because of the impact of Typhoon Odette.  

• Aligned with its thrust to expand its data businesses, Globe’s CAPEX increased by 54 percent to an all-time high of ₱92.8 billion, representing 61 percent of gross service revenues and 124 percent of EBITDA. About 86 percent went to data-related requirements:

  • Built 1,407 new cell sites nationwide for both 4G LTE and 5G
  • Upgraded over 22,300 mobile sites
  • Expanded 5G coverage to over 2,000 sites
  • Rolled out 1.4 million FTTH lines on the home broadband front

• For 2022, Globe is earmarking ₱89 billion in CAPEX to continue its aggressive network expansion to boost internet quality and coverage in the country.

• Globe is moving towards becoming a digital solutions company, leveraging its core telco business to tap the shifting consumer landscape, which is being heavily influenced by digital adoption. Within its portfolio are high-growth enterprises in fintech, healthtech, adtech, and e-commerce among others.  

  • GCash reached positive full year EBITDA and profitability three years ahead of its target. It has 55 million registered users, which drove gross transaction value to increase three times to ₱3.8 trillion in 2021.  
  • In healthtech, HealthNow has 800,000 customers, processing 15,000 to 20,000 medicine delivery orders daily. KonsultaMD exhibited strong growth with more than a doubling of revenue, reaching over 1 million members across 50,000 retail outlets nationwide.
  • AdSpark, the largest locally-based ad agency, grew its revenues 32 percent to ₱1.2 billion.
  • RUSH, the leading loyalty solutions provider in the Philippines, doubled its revenue in 2021 and has 3.8 million registered users.


• ACEN’s net income increased 22 percent to ₱5.3 billion as robust earnings from its international assets supported softness in Philippine operations.

• Equity earnings from international plants soared 51 percent to ₱4.9 billion, driven by operating capacity with the commencement of operations of new wind farms in Vietnam and solar farms in India.

• Earnings contribution from its Philippine plants decreased 17 percent to ₱3.1 billion as the start of operations of the Palauig and Alaminos solar farms was outweighed by increased cost of purchased power due to higher spot market prices. Without one-off retroactive feed-in tariff adjustment booked in 2020, earnings from the Philippine assets would have been flat.

• ACEN’s attributable output increased 21 percent to 4.6 gigawatt hours, driven by higher operating capacity and increased dispatch of thermal plants.

  • Generation from international plants grew 24 percent because of additional capacity from new wind farms in Vietnams and solar farms in India.
  • Output from Philippine plants was up 20 percent to 2.7 gigawatt hours due to improved utilization of peaking thermal plants, in addition to the start of operations of the Alaminos and Palauig solar farms.

• ACEN has 3,751 MW of attributable capacity in its portfolio (pro forma), of which 87 percent is renewable. 63 percent of the portfolio is already operating.

• In line with its aggressive portfolio expansion in the Philippines, Vietnam, India, and Australia, ACEN invested a total of ₱33.1 billion in capital expenditures in 2021.

  • With various projects and announced acquisitions slated in 2022, ACEN has earmarked a CAPEX budget of ₱55 billion this year.

• In February, ACEN, through its wholly owned subsidiary, AC Energy Vietnam, signed an agreement to acquire a 49 percent stake in Solar NT, which is owned by Thailand’s Super Energy Corporation. 

  • Upon completion of internal restructuring, Solar NT will fully own and operated 837 MW of solar projects in Vietnam.
  • The investment brings ACEN’s attributable international capacity to more than 2,200 MW, of which more than 1,000 MW are in Vietnam.

Balance Sheet Highlights

• Parent level cash stood at ₱20.2 billion

• Net debt stood at ₱115 billion.

• Parent net debt-to-equity ratio stood at 90 percent.

• Consolidated net debt-to-equity stood at 68 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 6.7 percent.

• Parent blended cost of debt at 4.3 percent ending December 2021, with average remaining life of 19.5 years.

• In 2021, the Ayala group’s combined capital expenditure reached ₱228 billion and ₱18 billion at the parent level. Ayala parent capex was channeled mostly to the purchases of shares in Ayala Land.

• For 2022, Ayala has allocated ₱285 billion in group CAPEX, with ₱24 billion earmarked for Ayala parent to fund investment opportunities.


March 2, 2022 MANILA, PHILIPPINES – Globe (PSE:GLO), a leading digital solutions platform in the Philippines with major interests in telecommunications, financial technology, digital marketing solutions, venture capital funding for startups, entertainment, and virtual healthcare announced the formation of a joint venture partnership with ST Telemedia Global Data Centres (STT GDC), one of the world’s fastest-growing data center providers and Ayala Corporation (AC), the Philippines’ leading conglomerate, for the development, construction and operation of data center projects in the Philippines. 

Under the agreement, both STT GDC and AC shall subscribe to new shares in KarmanEdge, Inc., a 100% owned subsidiary of Globe that will house the carved-out data center business, which has the potential to expand by up to 100MW capacity in the mid to long term. Post execution of the share subscription agreement, Globe will remain the largest shareholder with a 50% ownership, followed by STT GDC with 40% and AC taking up the balance.

This venture will help accelerate Globe’s efforts to scale up its capacity and capabilities in the data center space and address the significant and growing demand for data center services in the country, both from local enterprises and global hyperscalers, including some of the biggest content providers in the world. This deal also allows Globe and Ayala to partner with one of the world’s largest data center operators and importantly, a partner that also aligns with its environmental, social and governance aspirations. Today, more than 43% of STT GDC’s data centers are operating with power derived from renewable sources with an ambitious 2030 carbon-neutral target for all its data centers.

The transaction is fully aligned with Globe’s view of the value and significant opportunity of the data center space in the Philippines, given current market demand and the country’s strategic location in the region. More importantly, it reinforces Globe’s transformation into a leading digital solutions group that provides connectivity and solutions to power and enable a robust digital ecosystem for the Filipino.

Globe, through its wholly-owned subsidiary, Innove Communications, Inc., has been operating data centers in the country since 2001 and has since expanded its portfolio nationwide, serving both its internal needs, local enterprises and global hyperscalers. Globe data centers are globally competitive, advanced, standard-compliant, and highly secure facilities strategically located across the archipelago offering world-class data, network, telecommunication, and IT services ranging from carrier-neutral colocation space, managed security, mission-critical applications, and cloud solutions.

“The Philippines is an underserved market with huge demand for data center services. Together with STT GDC’s deep expertise and experience in developing, owning and operating data centers globally and AC’s significant business reach, relationships in the country and in the region, we believe that this Joint Venture will be well-positioned to become the leader in the data center space in the Philippines,” said Ernest Cu, Globe President and Chief Executive Officer. “Our partnership with STT GDC and AC will be a step forward in our ambition to transform the country’s digital infrastructure by building and operating the most energy efficient and connectivity-rich data centers in the country,” he added. 

“We are thrilled to partner with Globe as we expand our global data center platform into the Philippines, further bolstering our strong presence within Asia. With Globe’s well-established digital solutions platform and our data center expertise, we are confident that through our partnership, we can build a leading data center platform in the country. This venture will enhance our offerings to support enterprises as they grow their digital infrastructure in the Philippines and the wider APAC region,” said Bruno Lopez, President & Group CEO, ST Telemedia Global Data Centres.

“We are excited to support this initiative and leverage our wide relationships to maximize opportunities for the Venture. We believe we have found in STT GDC the right partner to help us scale up and play a major role in the development of the Data Center Industry in the country,” said Fernando Zobel de Ayala, Ayala Corporation President and Chief Executive Officer. 

The capital infusion by the new partners will result in a post-money valuation of KarmanEdge, Inc. at over US$350 million. Globe will receive proceeds of US$100 million from the transaction with the remaining capital injected to be utilized by the business for future expansion & growth.

The transaction, which is expected to be completed in Q1 2022, will be subject to customary closing conditions, including relevant regulatory approvals.


About Globe

Globe Telecom, Inc. is a leading digital platform in the Philippines, with major interests in telecommunications, financial technology, digital marketing solutions, venture capital funding for startups, entertainment, and virtual healthcare. The company serves the telecommunications and technology needs of consumers and businesses across an entire suite of products and services including mobile, fixed, broadband, data connectivity, internet and managed services. In 2019, Globe became a signatory to the United Nations Global Compact, committing to implement universal sustainability principles. Its principals are Ayala Corporation and Singtel, acknowledged industry leaders in the country and in the region. It is listed on the Philippine Stock Exchange under the ticker symbol GLO and had a market capitalization of US$8.7 billion as of the end of December 2021. For more information, visit www.globe.com.ph. Follow @enjoyglobe on Facebook, Twitter, Instagram and YouTube.


ST Telemedia Global Data Centres is one of the fastest-growing data center providers, headquartered in Singapore. With a global platform of data centers in the world’s major business markets of over 140 facilities across Singapore, the UK, India, China, Thailand, South Korea, Indonesia and Japan, STT GDC offers a full suite of best-in-class, highly scalable and flexible data center solutions, connectivity and support services that best meet customers’ current and future colocation needs. For more details, please visit sttelemediagdc.com.

About Ayala

Founded in 1834, Ayala Corporation is one of the largest conglomerates in the Philippines with core interests in real estate, banking, telecommunications, and power. It has a growing presence in healthcare and logistics and investments in water, industrial technologies, and infrastructure.


Globe Telecom, Inc.
Yoly Crisanto
SVP, Corporate Communications

ST Telemedia Global Data Centres
Chow Yi
Group Head, Marketing and Communications

Christina Koh
Assistant Manager, Marketing and Communications

The Hoffman Agency on behalf of ST Telemedia Global Data
Centres STTGDC@hoffman.com

Ayala Corporation
Investors and analysts:
Celeste Jovenir
Head, Investor Relations

Yla Alcantara
Head, Brand Reputation and Management

ACES launches ‘Atletang Ayala’ to support Filipino Olympic hopefuls

The Ayala Vermosa Sports Hub is a complete destination designed specifically to provide an effective and complete training experience for athletes
The Ayala Vermosa Sports Hub is a premier destination for athletes that integrates an Olympic-size pool, track and field and a sports science laboratory

MANILA – The recently-launched Ayala Center for Excellence in Sports (ACES) announced today the creation of the Atletang Ayala program which has been designed to provide holistic support to the country’s Olympic hopefuls. 

Under the Atletang Ayala program, participating Ayala Group companies will provide full-salaried employment opportunities at part-time hours to Filipino national athletes training for the 2022 Asian Games and the 2024 Olympics.  This arrangement will allow the athletes the flexibility they need to fulfill their grueling training and competition requirements while receiving a steady income.  Athletes selected for the program will also be given free access to the world-class training facilities of the Ayala Vermosa Sports Hub. Finally, ACES has partnered with De La Salle University to offer free enrollment in a selection of courses for Atletang Ayala athletes who wish to continue their education.

“The Ayala Group of Companies has long recognized the special qualities athletes bring to the workplace. A number of our executives in fact competed as national athletes, and they have been noteworthy for their commitment, resilience and ability to work in teams.  At the Ayala Group we will continue to look for ways to support our national athletes so that hopefully we can encourage more Filipinos to pursue their sports dreams,” said Jan Bengzon, ACES Program Director.

“We are excited to open the program application process to all qualified national athletes and look forward to working with them to advance their athletic careers towards qualifying for the upcoming 2022 Southeast Asian Games and Asian Games, and hopefully the 2024 Olympics as well. At the same time, we would also like to work with them to advance their careers beyond sports,” he added.

The Atletang Ayala program will be launched after it has identified eight athletes for its inaugural class.  All applicants are required to be members of the pool of national athletes in their national sports associations that are competing in medal sports at the 2024 Olympics. Atletang Ayala athletes will be offered a yearly contract that provides for the above benefits and can be renewed annually until the 2024 Olympics, contingent on the attainment of clear performance measures. 

“The success of this program will not be determined by the number of athletes who bring back medals, but by the impact these young men and women will have in their communities as they aspire to reach the pinnacle of their respective sports on the global stage,” Bengzon added.

Interested applicants are encouraged to apply by filling in the form at the following link: https://bit.ly/AtletangAyala. Deadline for application is on March 18, 2022.

For more information: Please contact ACES via the following email address: aces@ayala.com