Category: News

Thomson Reuters’ International Financing Review Asia (IFR Asia) named Ayala Corporation’s US$400-million fixed-for-life perpetual bond as the Philippine Capital Market Deal for 2017. IFR Asia is the leading source of fixed income, capital markets and investment banking news and commentary. In its special report, Review of The Year 2017, IFR Asia cited how the Ayala deal drew strong demand from both offshore investors and domestic institutions flush with dollar liquidity, managing to close multiple times oversubscribed with final orders of over US$2.5Bn.

IFR Asia’s citation lauded Ayala Corporation’s issuance of a US dollar-denominated perpetual bond in September that set a precedent in the Philippines for fixed-for-life bonds.  The report cited that Ayala’s first offshore issue since 2003 attracted heightened demand from investors looking for quality Philippine exposure and how Ayala was primed to respond, upsizing the issue and accelerating launch of the deal in the middle of its investor roadshow.  The Ayala bond was the first ever Asean corporate fixed for life perpetual.

Aside from allocating the proceeds to refinance the issuer’s maturing US dollar obligations and to fund investments, the deal also enables Ayala to pursue new opportunities, expansions and acquisitions in the years to come. This is aligned with Ayala’s integration of its strategy and operations with its sustainability framework, as the group continues to expand its long-standing businesses in real estate, banking, water systems and telecommunications while diversifying into new sectors; particularly, industrials, infrastructure, energy, health and education, which are critical to the Philippines’ socio-economic progress.  

Asset Publishing and Research Ltd, a Hong Kong-based integrated multi-media company serving an elite community of leading corporate and financial decision makers in Asia, awarded Ayala Corporation on November 30, 2017 as The Asset Triple A Country Awards 2017’s Best Corporate Bond in the Philippines for its US$400 million senior unsecured and guaranteed fixed-for-life perpetual Notes, which were issued last September. The award was included in its Best Deals in Southeast Asia category.

The Asset Awards are Asia’s preeminent recognition for those that have excelled in their respective industries. With close to 20 years of experience, the awards programs are built upon a stringent methodology that is combined with a rigorous approach in selecting the best institutions and individuals operating in Asia.

The issuance, a US dollar-denominated fixed-for-life senior perpetual issuance at an aggregate principal amount of US$400 million with an annual coupon of 5.125% for life with no step-up in Southeast Asia and the first fixed-for-life with no step-up (and reset) deal in the Philippines, was commended by The Asset for “setting a precedent in the country for the fixed-for-life bonds”. HSBC was sole was sole global coordinator, with Deutsche Bank, HSBC and JP Morgan as joint lead managers and BPI Capital Corporation and China Bank as domestic lead managers.

The offering was more than five times oversubscribed, with investors’ confidence reflecting the high quality of the Ayala signature. “This successful launch of fixed-for-life Notes provides us with the financial flexibility to manage our balance sheet and diversify our sources of capital. We are grateful for the continued support we have received from investors that is clearly reflected in this issuance,” said Ayala Corporation Chairman and CEO Jaime Augusto Zobel de Ayala.

Now on its 19^th year, The Asset’s annual Triple A recognition represents the industry’s most prestigious awards for banking, finance, treasury and the capital markets.

The Financial Executives Institute of the Philippines and ING Bank NV have named Ayala Corporation Chief Finance Officer Jose Teodoro K. Limcaoco as this year’s CFO of the Year.

As CFO of Ayala, Limcaoco is tasked to manage P900 billion in assets of the Philippines’ oldest and largest conglomerate which has diverse interests in real estate, financial services, telecommunications, water infrastructure, electronics manufacturing, power generation, transport, automotive, healthcare, and education.

“TG plays a very important role in the growth of Ayala Corp. He has a wide lens in which he views things. Our conversations stretch beyond the financials and encompass what we want Ayala to become,” says Ayala Chairman and CEO Jaime Augusto Zobel de Ayala.

JAZA credits Limcaoco for remodeling the capital allocation process at the parent company. This year, Limcaoco spearheaded the issuance of a $400-million “fixed-for-life” perpetual bond offering to help fund the conglomerate’s long-term investments; it was the Philippines’ first international corporate issuance in 2017 and also signaled Ayala’s return to the offshore debt market after a long hiatus. Moreover, in his concurrent roles as Chief Risk Officer and Chief Sustainability Officer of Ayala, Limcaoco has heightened the parent company’s focus on risk management and the group’s alignment to the United Nations Sustainable Development Goals.

Accepting his award on November 20, Limcaoco said: “The role of the CFO is constantly changing, for finance is the lifeblood and tangible measure of corporate success. As corporations and businesses evolve to be more responsible to all their stakeholders, so, too, will the responsibility of a CFO evolve to address and ensure the long-term sustainability of his or her business. This is the challenge we all face and must prepare our successors to address.”

Limcaoco is the fifth Ayala group CFO to receive the organization’s highest distinction, previously won by Ayala Land’s Jaime Ysmael (2011), Manila Water’s Sherisa Nuesa (2008) and Luis Juan Oreta (2015), and Globe’s Delfin Gonzalez Jr. (2007), who was later appointed Ayala CFO.

Ayala’s latest social venture brings the benefits of solar energy to one of the most far-flung islands of the Philippines

TAWI-TAWI – Far from commercial grids and power lines, the island of Tawi-Tawi sits at the southernmost part of the Philippines. In this remote province, only 30% of the population has access to electricity, which is predominantly sourced from diesel generators. Due to the unstable electric supply, the island experiences rolling blackouts that stunt progress and slow down the delivery of essential services, such as health and education. For the Mindanao State University (MSU) in Bongao, Tawi-Tawi—whose vision is to be a center of excellence in Fisheries, Marine and Maritime Science and Engineering, and Oceanography— this means that the quality of their educational program is undermined and that the productivity of their students is often disrupted.

Working with MSU, AC Energy has partnered with Kennedy Renewable + Technology Corp. to address the power shortage and provide the school with solar panels. AC Energy, whose recent focus in the development of renewable energy, provided technical and financial support, with Kennedy acting as the main developer and engineering, procurement, and construction (EPC) contractor for the project. Seven campus buildings were outfitted with solar panels, hybrid inverters and batteries, providing not only 141kW capacity to the university, but also energy storage capability. The system works in tandem with the local power supply, thereby reducing the impact of electrical disruptions and lowering the school’s cost of electricity. 

“The successful launch of this project highlights the reality of conglomerates successfully working with small companies that labor under challenging circumstances to promote sustainable development. This installation is a living, although modest, testament of how organizations like AC Energy and Kennedy Renewable + Technology Corp. solve real problems of power shortages that affect critical institutions in remote areas. Many more projects like this will help advance the cause of energy derived from sources that are replenished by nature,” said Dr. Philip Ella Juico, Chairman of Kennedy Renewable + Technology Corp.

This renewable source of power enhances MSU’s role, as the only university in the province, in providing quality education despite the inefficiencies in the current local power situation. In these far-flung areas, access to electricity is directly linked to access to education. As the island’s sole institution for higher education, MSU Tawi-Tawi is now closer to its goal of producing experts in fisheries and agriculture, which are key drivers of their local industry. AC Energy’s President & CEO, Eric T. Francia added “Our company sees great value in not only providing electricity to far-flung regions of our country, but also to critical institutions of growth like MSU. Partnering with Kennedy Renewable and MSU to stabilize their campus’ power supply directly impacts the quality of education that the school’s students will receive. We are excited about the possibilities energy can provide—especially to the education of our future generation.” 

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AC Energy is one of the fastest growing businesses of Ayala Corporation with more than US$ 1 billion of invested and committed capital, with investments in renewable energy and conventional power.

AC Energy is positioned to exceed 2,000 MW of attributable generation capacity and scale up its renewable energy portfolio to over 1,000 MW by 2020.

AC Energy is expanding beyond the Philippines and expected to grow its presence in Indonesia and other Southeast Asian markets.  

For inquiries and more information, please contact:

Irene Maranan

Head – Corporate Marketing and Sustainability

AC Energy

Email :  maranan.is@acenergy.com.ph

Contact number:  0917.5298339 or 908.3373

Website:  www.acenergy.com.ph

Ayala Corporation sustained its earnings momentum in the first nine months of the year, with net income reaching ₱23.2 billion, an 18 percent-growth from its year-ago level. This was bolstered by the strong performance of its real estate unit, and boosted by the continued ramp-up of its power business. 

In the third quarter, Ayala’s net income jumped 39 percent year-on-year to ₱8.2 billion, driven by robust earnings from Ayala Land, Bank of the Philippine Islands, and AC Energy. This was lifted by transaction gains realized by Globe Telecom from the investment of Ant Financial in its fintech unit Mynt. Moreover, the income realized by AC Energy from services that enabled the financial close and construction of a power plant lifted Ayala’s net earnings in the third quarter. Isolating these transaction gains, Ayala’s third quarter net income grew 26 percent from a year ago. 

“Most of our business units have continued to achieve solid growth this year,” Ayala President and  Chief Operating Officer Fernando Zobel de Ayala said. “We are pleased to note that even excluding the transaction gains from various strategic initiatives for the period, Ayala’s ninemonth net income still expanded 18 percent from the previous year,” Mr. Zobel said.

Real Estate

The sustained performance of the residential segment, office-for-sale, and commercial leasing businesses drove the 18 percent growth in Ayala Land’s nine-month net income to ₱17.8 billion.

In property development, residential revenues jumped 30 percent from its year-ago level to ₱57.3 billion driven by new bookings and project completions led by the Alveo and Avida brands. Reservation sales in the first nine months amounted to ₱94.2 billion, 12 percent higher year-onyear, with average monthly sales amounting to ₱10.5 billion. Unbooked revenues from reservation sales reached its highest level to date at ₱141 billion from ₱127 billion in end-2016, while net booked sales for the period climbed 16 percent to ₱66.9 billion.

Office-for-sale revenues surged 50 percent year-on-year to ₱6.3 billion bolstered by sales from the High Street South Corporate Plaza 2 project. In the commercial and industrial lots segment, Ayala Land posted ₱4.8 billion revenues in the first nine months, up 8 percent from a year ago, fueled by strong lot sales in Arca South, Vermosa, and Naic, Cavite.

During the period, Ayala Land launched ₱53.9 billion worth of residential and office-for-sale projects.

In commercial leasing, shopping center revenues reached ₱11.8 billion, 11 percent higher than the previous year backed by contributions from new malls. Office leasing revenues grew 11 percent to ₱4.5 billion, lifted by stabilized occupancy of UP Town Center, Ebloc 4, and Alabang Town Center BPO offices. Moreover, hotel and resorts revenues were steady at ₱4.8 billion, up six percent year-on-year, driven by higher occupancy and average room rates of El Nido Resorts. Property management revenues climbed 51 percent to ₱1.6 billion supported by increase in managed properties. These recurring income businesses contributed 35 percent of Ayala Land’s net income during the period.

Banking

In banking, the sustained momentum of Bank of the Philippine Islands’ core banking and feebased businesses cushioned the absence of significant gains from a capital exercise in the previous year. The bank posted ₱17 billion in net income in the first nine months, 1.9 percent lower yearon-year

The bank’s total revenues rose five percent to ₱53 billion as net interest income rose 13.5 percent to ₱35.5 billion driven by higher asset yields and expansion of its average asset base. Non-interest income fell to ₱17.5 billion, down 8.4 percent from a year ago, due to the absence of significant one-off securities trading gains similar to those realized in June 2016. The lower trading gains was partially offset by the bank’s fee-based income, which rose 20.1 percent during the period backed by credit card, investment banking, and trust fees. BPI’s cost-to-income ratio increased to 52.5 percent as the bank continues to invest in new technology to improve operating efficiencies.

BPI’s loan book expanded 21 percent as of end-September 2017 to ₱1.1 trillion compared to the same period a year ago, supported by a 24 percent-growth in corporate loans. The corporate segment accounted for 80 percent, while the consumer segment comprised 20 percent of the bank’s loan portfolio. BPI maintained its asset quality with a 90-day non-performing loans ratio of 1.5 percent and a 126 percent reserve cover. Total deposits in the first nine months of the year stood at ₱1.5 trillion, 14 percent higher than a year ago, with its current and savings account ratio at 71 percent.

Telecom

Continued demand for data-related services, lifted by a ₱1.9 billion gain from the strategic partnership forged by Mynt, drove Globe Telecom’s net income to ₱13 billion, 11 percent higher than a year ago. This one-time gain pared Globe’s share in equity losses and amortization charges related to the acquisition of San Miguel’s telco assets, higher interest expenses, and depreciation.

Globe’s gross service revenues improved six percent to ₱95.1 billion led by a broad-based growth across its mobile, home broadband and corporate data segments. Mobile revenues grew 7 Ayala Corporation | 9M 2017 Earnings Release 3 | P a g e November 10, 2017 percent to ₱73.1 billion, driven by sustained high demand for mobile data. Mobile data revenues increased 20 percent to ₱31.3 billion as mobile data traffic soared 73 percent to 430 petabytes in the first nine months of the year.

Home broadband revenues rose eight percent from its year-ago level to ₱11.7 billion, tracking a nine percent growth in broadband subscribers to 1.3 million. Meanwhile, corporate data revenues ended the period four percent higher to ₱7.6 billion. On a combined basis, Globe’s revenues from data-related services amounted to ₱50.6 billion, up 14 percent year-on-year. Data services accounted for 53 percent of Globe’s gross service revenues in the first nine months compared to 49 percent in the previous year.

Globe posted an earnings before interest, taxes, depreciation and amortization (EBITDA) of ₱40.6 billion, up eight percent from the previous year, backed by strong revenues despite higher operating expenses. Moreover, EBITDA margin improved to 43 percent from its year-ago level of 42 percent.

Without the impact of the gains from the increase in fair value of its retained equity interest in Mynt and the costs related to the acquisition of San Miguel’s telecom assets, Globe’s net earnings dropped 2 percent year-on-year owing to higher depreciation expense and interest and financing charges.

As part of its commitment to improve internet services in the country, Globe is deploying US$100 million in additional capital expenditures for the year to fund the expansion of its mobile data network, bringing Globe’s total capital spending plan to US$850 million for 2017. The additional investment will be used to deploy new cell sites that utilize the 700 and 2600 megahertz frequencies aimed at expanding internet capacity and mobile coverage.

In October, with partners Ant Financial and Ayala, Globe launched its digital payment platform through GCash, which utilizes Quick Response (QR) codes for retail merchants. The system allows customers to pay for goods and services using their smartphones. The system was first launched with Ayala Malls and is targeted to expand to other retail outlets.

Water

Manila Water’s nine-month net earnings ended flat from a year ago at ₱4.9 billion, as higher operating costs and expenses from expansion initiatives weighed down its topline growth.

Manila Water’s revenues rose three percent to ₱13.8 billion, in step with a three percent expansion of total billed volume to 554.4 million cubic meters. In the first nine months of the year, the Manila Concession registered ₱4.5 billion in net income, three percent higher than the previous year, supported by a steady growth in billed volume and lower depreciation expenses. Billed volume stood at 366.6 million cubic meters, two percent higher than its year ago level, on the back of higher demand from domestic and semi-commercial clients. Operating efficiencies remain at a Ayala Corporation | 9M 2017 Earnings Release 4 | P a g e November 10, 2017 comfortable level with non-revenue water at 13.1 percent, while collection efficiency stood at 99 percent in the first nine months.

Revenues from Manila Water’s domestic subsidiaries, Manila Water Philippine Ventures, jumped 26 percent to ₱2.3 billion bolstered by strong growth across all its subsidiaries. This was led by Estate Water and Laguna Water, which posted revenue growth of 42 percent and 32 percent, respectively. All in all, Manila Water’s non-Manila Concession businesses contributed ₱770 million accounting for 16 percent of total consolidated net income.

Operating costs and expenses in the first nine months rose 11 percent to ₱4.9 billion, due to higher direct and personnel costs.

Manila Water remains aggressive in its business-building efforts, with business development costs more than doubling to ₱162 million. In addition, Manila Water continued to invest in service improvements with capital expenditure up 66 percent to ₱8.2 billion, with a bulk allocated to the Manila Concession.

Power Generation

AC Energy sustained its earnings momentum with net income surging 73 percent to ₱2 billion in the first nine months, primarily driven by the fresh contribution of its geothermal asset in Indonesia, boosted by services income derived from the financial close of a new power plant.

Equity earnings from AC Energy’s operating assets expanded 20 percent year-on-year to ₱1.6 billion, bolstered by the robust performance of its renewable energy assets and the contribution of SD Geothermal (formerly Chevron Indonesia). During the period, its renewable platforms contributed 52 percent to AC Energy’s equity earnings from operating assets.

AC Energy’s first greenfield offshore project, the 75-megawatt Sidrap Wind Farm located in South Sulawesi, Indonesia, is expected to be operational by the first quarter of 2018.

Industrial Technologies

AC Industrials registered a net income of ₱1 billion in the first nine months of the year, a five percent increase from a year ago, as the solid performance of its electronics manufacturing business offset weaker contributions from its vehicle retail segment.

In electronics manufacturing, Integrated Micro-Electronics, recorded a 16 percent increase in net earnings to US$24.1 million (₱1.2 billion), driven by its automotive and industrial segments. Revenues surged 29 percent year-on-year to US$795.2 million (₱40.4 billion), lifted by its Europe and Mexico operations, which contributed US$263.4 million (₱13.4 billion) in revenues on increased demand for automotive lighting.

VIA Optronics and Surface Technology International registered a combined US$136.2 million (₱6.9 billion) in revenues, contributing 17 percent of total revenues. VIA and STI supported the 25 percent-improvement in gross profit of US$89.2 million (₱4.5 billion) during the period.

Meanwhile, revenues from AC Industrials’ vehicle retail segment expanded 30 percent to ₱21.2 billion, supported primarily by strong sales of its Honda BR-V, Honda Civic and Isuzu truck models. Despite higher sales during the period, net income declined 10 percent to ₱445 million as a result of lower dividend income from Isuzu Philippines Corporation and lower equity earnings from Honda Cars Philippines Inc.

In motorcycle manufacturing, KTM Philippines has assembled 1,148 units as of September since it began operations in June this year.

Infrastructure

AC Infrastructure continues to strengthen the operations of its three public-private partnership projects. Light Rail Manila Corporation, the operator of LRT-1, served an average daily ridership of over 431,000 in the first nine months of the year. Capacity has improved with 106 light rail vehicles available for operation, a 15 percent increase from its year-ago level, while average weekday daily trips have increased to 554, 10 percent higher year-on-year. LRMC continues to upgrade the facilities of stations along the line to provide a better commuting experience to the public.

The Muntinlupa-Cavite Expressway now serves over 28,300 vehicles a day, 22 percent higher from a year ago. Meanwhile, the Beep ticketing system now has 4.6 million cards in circulation, with ₱8.1 billion in transactions across rail, bus, and retail platforms since its launch in 2015. It recently added Robinsons Movieworld to its non-rail platforms

Social Infrastructure

AC Health continues to ramp up the operations of Generika, its retail network of affordable quality generic medicines, and FamilyDOC, its chain of community-based primary care clinics, to meet the healthcare needs of Filipinos.

Generika’s revenues grew 13 percent to ₱2.3 billion year-on-year, mainly driven by higher network retail sales during the period. The pharmacy chain opened 76 new stores in the first ten months, bringing the total branch footprint to 730 as of October 2017. Meanwhile, FamilyDOC continues to ramp up with 15 clinics in its network as of October 2017 after it opened five new clinics in Cavite, Las Pinas, Paranaque, Pateros and Pasig. FamilyDOC has served over 40,000 unique patients since it launched in 2015. This year, AC Health is expected to launch a new clinic format, which will place a FamilyDOC clinic inside a Generika branch.

In education, after completing enrollment for both its Affordable Private Education Centers (APEC schools) and the University of Nueva Caceres in Naga, AC Education now has a combined student population of 24,275 as of September 2017.

APEC Schools opened the school year 2017-2018 with 16,221 students across 23 sites, a 54 percent increase from the previous year. Meanwhile, UNC’s total student population increased by 5 percent to 8,054, despite the lack of a freshman cohort due to the implementation of the K-12 Law

Balance Sheet

Ayala’s balance sheet continues to be healthy to support its investments as well as meet debt and dividend obligations. Moreover, Ayala’s consolidated assets breached the 1-trillion-peso level as of end-September 2017.

Cash at the parent level stood at ₱29.7 billion, while net debt stood at ₱67.2 billion. Net debt-toequity ratio during the period was 0.68 at the consolidated level and 0.61 at the parent level. Ayala’s loan-to-value ratio or the ratio of its parent net debt to the total value of its investments was 10 percent as of end-September 2017.

In September, Ayala successfully issued US$400 million senior Perpetual bonds with an annual coupon rate of 5.125 percent with no reset nor step-up, a first in the Philippines. The issuance of this fixed-for-life Perpetual was more than five times oversubscribed with 81 percent allocated to foreign institutional investors. The issuance allows Ayala to optimize its average cost of funding and extend its debt maturity profile and diversify its funding source.

The Ayala Group’s contributions to the UN Sustainable Development Goals were given focus at the Nordic Ambassadors’ Luncheon in Shangri-la Fort held last October 26, 2017.  TG Limcaoco represented Ayala Group’s Chairman and CEO, Jaime Augusto Zobel de Ayala (JAZA) at the event. With the Nordic countries at the forefront of the campaign in achieving the targets of the SDGs, Ayala presented how it makes a difference in the local arena and how it supports the SDGs as a whole. 

Ayala has aligned its strategies to the SDGs since the inception of the goals – a move that is proven to be significant and commendable given the strategies of other countries to push for the SDGs today. Congratulatory messages were further expressed by the Ambassadors for JAZA for being the first UN Global Compact SDG Pioneer in the Philippines and in Southeast Asia. 

The speakers expressed that Nordic countries give prime importance in Sustainability, and in the realization of certain targets: health, education, infrastructure development, climate change, job generation, and peace. These show an alignment with Ayala’s goals and core businesses. At the event, speakers stressed that companies with strong Sustainability efforts have a statistically higher chance for both profit and positive impact in the years to come. 

Other notable companies were given light at the event for their Sustainability efforts and strategies such as IKEA, H&M, and Spotify. Some of the Nordic countries also gave a glimpse of their upcoming efforts to further their campaign for a green economy and to further mitigate climate change by 2040. Despite bagging the top four ranks in the index of countries who promote the SDGs, the Nordic countries stressed that they continue to seek more ways to enhance their contribution and efforts. However, there is one point highlighted by Denmark Ambassador Jan Top Christensen: “Without peace, there cannot be development”, and so, the Filipino community was congratulated for the end of the war in Marawi. 

The companies present at the event were given the inspiration to continue their businesses with the SDGs in mind. Positive development is seen in the Philippines but more can be done, and the role of the private sector is very significant. As stated by TG Limcaoco, “We cannot discount the relevance of the private sector, and collaborative efforts with other sectors is key.” 

With this in mind, Ayala will carry on with its goal of contributing significantly to the SDGs, not because of compliance, but because of the company’s inner drive to make a difference and improve lives. 

APEC Schools, in partnership with Accenture Philippines, is running the Hour of Code^TM Program for all Grade 7 students across its APEC Schools branches. Together with volunteers from Accenture Philippines, APEC will be organizing computer-coding sessions where every student will be learning the fundamentals of computer programming to help them prepare and succeed in future academic pursuits and employment.

To strengthen the initiative, APEC is collaborating with Accenture to share its technology knowledge and expertise. As a strong advocate of adoption of STEM (Science, Technology, Engineering and Mathematics) education among today’s youth, Accenture has been supporting Hour of Code activities in the country since 2015. Globally, it has conducted Hour of Code activities in close to 200 cities around the globe. APEC will be conducting An Hour of Code sessions that will cover more than 3,000 Grade 7 students from all APEC Schools Branches by the end of this school year.

Under the program, the one-hour introduction to computer science is designed to demystify “code” and provide a fun way of learning computer programming basics. The program aims to foster interest and broaden participation in the field of computer science. It has since become a worldwide effort to celebrate computer science, starting with 1-hour coding activities but expanding to various community efforts.

With the pervasiveness of technology, students’ ability to succeed in any chosen field will increasingly depend on understanding how technology works. At APEC Schools, the use of technology is deeply integrated into the teaching and learning process. Learning with and about technology develops the students’ problem-solving skills, logic, and creativity. It also provides the foundation for success in any 21st-century career path.

Operated by AC Education, an Ayala company, APEC Schools is the largest private, non-sectarian chain of high schools in the Philippines. It aims to transform millions of lives by providing high-quality yet affordable education and by producing graduates that are ready for college and professional employment.

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* APEC Schools is operated by AC Education, an Ayala company and presently has 16,200 high school students across 23 branches in the NCR, Cavite, Rizal, and Batangas.

** Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions – underpinned by the world’s largest delivery network – Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With more than 375,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives. Visit us at www.accenture.com.

***The ‘Hour of Code™’ is a global initiative by Computer Science Education Week[csedweek.org] and Code.org[code.org] to introduce millions of students in 180+ countries to one hour of computer science and computer programming.

Forbes Global 2000, an annual ranking of the top 2,000 public companies in the world by Forbes Magazine, ranked Ayala top 18 in its first-ever list of the World’s Best Employers in 2017. The news sparked pride among #AyalaCitizens. Among those at the top of the list were Google’s parent company, Alphabet; Microsoft; the Japan Exchange Group; and Apple. 
More than 36,000 global recommendations were analyzed by business intelligence portal, Statista, for Forbes magazine to come up with the World’s Best Employers list. Companies were evaluated based on internal and public perceptions of employees. The 500 companies receiving the highest total scores were awarded with the World’s Best Employers title.

See the full list here

Chairman and CEO Jaime Augusto Zobel de Ayala took the lead in Ayala Corporation’s group-wide effort to adopt a more imaginative approach to building sustainable businesses by creating platforms where social issues are made central to business strategy, guided by the UN’s 17 Sustainable Development Goals, of SDGs.

His leadership did not go unnoticed.

The UN Global Compact, a gathering of 800 global UN, business, government and civil society leaders, recognized Ayala Corporation’s sustainability strategy by distinguishing Mr. Zobel as an SDG Pioneer. The first SDG Pioneer from the Philippines, Mr. Zobel is one of ten individuals from around the world recognized for championing sustainability through their own companies and mobilizing the broader business community to take action in pursuit of the 17 UN SDGs.

Hundreds of nominations were received from diverse regions of the world, from which 10 finalists were selected, exemplifying how business can be a force for good in addressing the challenges we face as a global society.

“Each of the 2017 SDG Pioneers is exhibiting how companies and pioneering individuals can be a force for positive change in addressing the issues we all face today,” said Lise Kingo, UN Global Compact CEO and Executive Director. “Mr. Zobel has been impactful in reaching a wider segment of the business market through innovation and diversification. He has been a Pioneer in the inclusion of long-term sustainability in business strategy and operations.”

It was Mr. Zobel’s leadership that drove Ayala to embrace shared value creation, to better integrate the developmental challenges that society faces into Ayala’s strategies and business models. Apart from reinventing its business models to meet the needs of a wider segment of the population, Ayala has entered sectors critical to national development and inclusive progress: power, infrastructure, healthcare, and education.

Sustainability now plays a significant role in the Ayala businesses. Ayala Corporation drove the shift to the integrated reporting framework, which captures in detail the group’s positive impact on society through its contribution to the SDGs. Ayala Corporation is the first company in the Philippines to produce an integrated report. Another milestone is underway, as Ayala moves to include long-term sustainability targets for its businesses—which will form part of the companies’ and management’s key result areas.

 “I believe that now, more than ever, a deeper engagement with society is indispensable to the survival and success of private enterprises. From both a practical and moral standpoint, businesses cannot thrive in an environment rife with economic inequity,” said Mr. Zobel. “Ignoring these issues threatens our ability to create long-term value and jeopardizes the sustainability of the enterprise and markets.”

The world’s largest corporate sustainability initiative, the UN Global Compact calls on companies to align strategies and operations with universal principles on human rights, labour, environment and anti-corruption, and take actions that advance societal goals. In the Philippines, over 20 companies and non-business organization have joined the initiative, and the Global Compact Network Philippines has supported their efforts to advance sustainable business practices since 2016.

Mr. Zobel’s recognition as SDG Pioneer reinforces Ayala Corporation’s commitment to shared value creation, enhancing its business strategies and models in a way that addresses the evolving needs of Philippine society.

Jaime Augusto Zobel de Ayala recognized for work in sustainable business strategy and operations.

NEW YORK, 14 September 2017 – Ayala Corporation’s sustainability strategy has been recognized by the UN Global Compact, which named Ayala Chairman and CEO Jaime Augusto Zobel de Ayala as one of the United Nations SDG Pioneers. The first SDG Pioneer from the Philippines, Mr. Zobel is one of ten individuals from around the world recognized for championing sustainability through their own companies and mobilizing the broader business community to take action in pursuit of the 17 Sustainable Development Goals, or SDGs.

“Each of the 2017 SDG Pioneers is exhibiting how companies and pioneering individuals can be a force for positive change in addressing the issues we all face today,” said Lise Kingo, UN Global Compact CEO and Executive Director. “Mr. Zobel has been impactful in reaching a wider segment of the business market through innovation and diversification. He has been a Pioneer in the inclusion of long-term sustainability in business strategy and operations.”

His leadership drove Ayala to embrace shared value creation, to better integrate the developmental challenges that society faces into Ayala’s strategies and business models. Apart from reinventing its business models to meet the needs of a wider segment of the population, Ayala has entered sectors critical to national development and inclusive progress: power, infrastructure, healthcare, and education.

Sustainability now plays a significant role in the Ayala businesses. Under Mr. Zobel’s leadership, Ayala Corporation drove the shift to the integrated reporting framework, which captures in detail the group’s positive impact on society through its contribution to the SDGs. Ayala Corporation is the first company in the Philippines to produce an integrated report. Another milestone is underway, as Ayala moves to include long-term sustainability targets for its businesses—which will form part of the companies’ and management’s key result areas.

Each year, the UN Global Compact celebrates a group of SDG Pioneers – business leaders doing an exceptional job of taking action to advance the Global Goals. Hundreds of nominations were received from diverse regions of the world, from which 10 finalists were selected, exemplifying how business can be a force for good in addressing the challenges we face as a global society. Each Pioneer will be recognized during the UN Global Compact Leaders Summit 2017 on 21 September in New York.

A Pioneers Selection Group, comprised of experts from the UN, academia, civil society and the private sector, ranked the nominees based on a set of criteria, resulting in the ten 2017 UN Global Compact SDG Pioneers. Access the list of 2017 SDG Pioneers.

“I believe that now, more than ever, a deeper engagement with society is indispensable to the survival and success of private enterprises. From both a practical and moral standpoint, businesses cannot thrive in an environment rife with economic inequity,” said Mr. Zobel. “Ignoring these issues threatens our ability to create long-term value and jeopardizes the sustainability of the enterprise and markets.”

The world’s largest corporate sustainability initiative, the UN Global Compact calls on companies to align strategies and operations with universal principles on human rights, labour, environment and anti-corruption, and take actions that advance societal goals. In the Philippines, over 20 companies and non-business organization have joined the initiative, and the Global Compact Network Philippines has supported their efforts to advance sustainable business practices since 2016.

The UN Global Compact Leaders Summit 2017 is a two-day gathering of the private sector, UN, Government and civil society to jump-start action to achieve the UN Sustainable Development Goals by 2030. Together, over 800 leaders from around the world are gathered in New York to identify how to unleash the business activities, thinking and innovation required for a new era of sustainability.

About Ayala Corporation

Ayala Corporation is one of the largest conglomerates in the Philippines with businesses in real estate, financial services, telecommunications, water, electronics manufacturing services, automotive, power generation, transport infrastructure, education, and healthcare. Its corporate social responsibility arm, Ayala Foundation, has programs that focus on education, youth leadership, sustainable livelihood, and arts and culture. www.ayala.com.ph.

About Jaime Augusto Zobel de Ayala

Jaime Augusto Zobel de Ayala is chairman and CEO of Ayala Corporation, one of the largest conglomerates in the Philippines, with interests in real estate, banking, telecommunications, water, industrial technologies, power, infrastructure, healthcare, and education.

Jaime is a member of various business and socio-civic organizations, including the JP Morgan International Council and Mitsubishi Corporation International Advisory Council. He chairs the Harvard Business School Asia-Pacific Advisory Board and the SMU Advisory Council in the Philippines, as well as working with the Harvard Global Advisory Council, the University of Tokyo Global Advisory Board and the Endeavor Philippines board of trustees. Jaime represented the Philippines on the Asia Pacific Economic Cooperation (APEC) Business Advisory Council from 2010 to 2015.

Jaime has received multiple recognitions for his public service and support of economic development in the Philippines, including the Presidential Medal of Merit, the Philippine Legion of Honor and the Order of Mabini.

For inquiries, contact:

Mia Bontol

Associate, Corporate Communications

Ayala Corporation

09175779582

bontol.mcu@ayala.com.ph