Category: News

Light Rail Manila Corporation (LRMC) announced the simultaneous signing today of a P24 billion loan facility and the engineering, procurement and construction (EPC) agreement for LRT 1 Cavite Extension, one of the country’s largest private-public partnership projects.

LRMC is the joint venture company of Metro Pacific Investments Corporation’s Metro Pacific Light Rail Corporation, Ayala Corporation’s AC Infrastructure Holdings Corporation, and the Philippine Investment Alliance for Infrastructure’s Macquarie Infrastructure Holdings (Philippines) PTE Ltd.

“These milestone agreements give us significant headway towards the construction and commissioning of the much-awaited Cavite Extension which will benefit an additional 300,000 passengers from four big cities in southern Manila,” LRMC President and Chief Executive Officer Jesus P. Francisco said.

LRMC signed the 15-year Omnibus Loan and Security Agreement (OLSA) with Metropolitan Bank & Trust Company (Metrobank), Security Bank Corporation and Rizal Commercial Banking Corporation (RCBC), with PhP15.3 billion of the total loan amount allocated for the Cavite Extension and PhP8.7 billion for the rehabilitation of the existing LRT 1 system.

Francisco said that LRMC and its EPC contractors Bouyges Travaux Publics and Alstom Transport are set to commence the construction of the 11.7 kilometer Cavite Extension once right of way is delivered by the Department of Transportation and Communications (DOTC) and Light Rail Transit Authority (LRTA). “Hopefully by the second half of this year,” he added.

Targeted for completion in about four years after the delivery of right of way, the 11.7 kilometer Cavite Extension will connect into the Existing System immediately south of the Baclaran Station and run in a generally southerly direction to Niyog, Cavite. It will consist of elevated guideways throughout the majority of the alignment, except for the guideway section at Zapote which will be located at grade and consist of the Satellite Depot and New Station.

Eight new stations will be provided with three intermodal facilities across Pasay City, Paranaque City, Las Pinas City and Cavite. The new stations are Aseana, MIA, Asia World, Ninoy Aquino, Dr. Santos, Las Pinas, Zapote and Niyog. The intermodal facilities shall be located at Dr. Santos, Zapote, and Niyog.

The commercial speed of the Cavite Extension will be 60km/h. The horizontal alignment shall be designed for a train speed of 80km/h for the mainline track; 6okm/h through Stations; and 30km/h for secondary and Depot tracks.

The new stations will be accessible to and from nearby community facilities such as shops, schools, stadium, park, etc, and be located to suit passenger flow routes from residential areas.

Pedestrian access to all new stations will be direct, safe and easy. Details such as lighting to distinguish access points, pedestrian cross striping and curb cuts for handicapped access will be provided.

Bouygues Travaux Publics, which will provide the railway infrastructure for the Cavite Extension, is known globally for complex projects involving tunnels, engineering structures and road, port and rail infrastructure, most recent of which were the Hong Kong–Zhuhai–Macao Bridge, the Port of Miami Tunnel and the Nîmes-Montpellier rail bypass in France.

Alstom Transport, on the other hand, will undertake the railway systems work, including track work, power supply, train control and signaling system, communications systems and the construction of the Operations Control System to provide seamless operation between the Existing System and the Cavite Extension.

The sustained earnings momentum of its telecommunications, real estate and banking units, including capital gains realized in the third quarter, drove Ayala Corporation’s net earnings in the first nine months of the year to P17.7 billion, 26 percent higher than a year ago.

In the third quarter alone, Ayala registered a net income of P7.3 billion, representing a 72 percent increase year-on-year.

Excluding the capital gains primarily from the partial sale of AC Energy’s stake in North Luzon Renewable Energy Corporation this year and the divestment of Stream Global Services in the previous year, Ayala’s nine-month earnings recorded robust growth of 23 percent from a year ago.

This solid performance was underpinned by the strong double-digit growth in equity earnings contribution from Ayala’s business units, which reached P21.4 billion, 14 percent higher than its year-ago level.

“Our growth trajectory remains strong as we continue to be optimistic about the overall domestic environment,” Ayala President and Chief Operating Officer Fernando Zobel de Ayala said.

Real Estate
Ayala Land’s net income for the first nine months of the year expanded 19 percent to P12.8 billion fueled by the sustained growth in residential development, office sales, and commercial leasing segments. Real estate revenues rose 10 percent to P70.2 billion.

Revenues from residential development grew 10 percent to P40 billion on higher bookings and project completion, while new launches boosted office sales to P4.0 billion, 57 percent higher year-on-year. Residential sales reached P82.9 billion as of September 2015.

In commercial leasing, higher occupancy and average rental rates drove the 12 percent increase in shopping center revenues to P9.2 billion and the 18 percent improvement in office revenues to P3.7 billion. Hotels and resorts revenues posted a 7 percent increase to P4.3 billion.

The strong performance of its commercial leasing segment supported Ayala Land’s continued buildup of its recurring income business which contributed 46 percent of its net income during the period.

Ayala Land launched various residential, office for sale and leasing projects amounting to P97.9 billion during the period.

Banking
Bank of the Philippine Islands registered a net income of P13.8 billion, 8 percent higher than the previous year as its core banking business continues to grow at a healthy pace. Total revenues expanded 9 percent to P44.1 billion in the first nine months of the year, driven by net interest income and non-interest income, which expanded by P3 billion and P683 million, respectively. Comprehensive income rose 12.3 percent to P13.3 billion.

BPI’s operating expenses reached P22.9 billion, 6.7 percent higher than the previous year. This translated to an improved cost-to-income ratio of 51.9 percent from the previous year’s 53.1 percent.

The bank’s total loan portfolio expanded 11.2 percent, reaching P780 billion during the period. Corporate loans accounted for 76.6 percent, while retail loans comprised 23.4 percent of BPI’s lending portfolio. Total deposits expanded 13.3 percent to P1.2 trillion, while total assets rose 8.8 percent to P1.4 trillion from their year-ago levels.

The bank recorded a capital adequacy ratio of 14.9 percent compared to the 15.7 percent registered a year ago.

Telecom
Globe Telecom sustained its solid performance in the first nine months of the year, recording a net income of P14.1 billion, 34 percent higher year-on-year. This was driven by strong growth in service revenues, which expanded 15 percent to P83.4 billion, buoyed by robust demand for data services across mobile, broadband, and fixed line segments. The P1.2 billion gain from the sale of its 51 percent stake in Yondu Inc. boosted Globe’s earnings during the period. Excluding one-time gains this year and the impact of accelerated depreciation in 2014, Globe’s core net income for the nine-month period grew 10 percent from a year ago.

Demand for data services continued to drive Globe’s strong revenue growth. Mobile browsing revenues jumped 48 percent to P15.1 billion, while broadband revenues increased 37 percent to P12.4 billion. Revenues from fixed line data surged 37 percent to P5.5 billion.

Globe’s mobile subscribers increased 17 percent to 50.1 million, surpassing the 50 million mark for the first time in the company’s history, while its broadband subscribers surged 57 percent to nearly 4 million.

Following the conversion of debt and acquisition of equity from existing shareholders last July, Globe now owns 98.6 percent of Bayan’s equity. Since then, Globe and Bayan jointly filed for the latter’s exit from financial rehabilitation. Globe’s acquisition of Bayan presents synergy opportunities, including the nearly P1.4 billion in both one-time and annual recurring savings from one-time capex avoidance, recurring operational expense savings, and cross-selling and up-selling of Globe and Bayan products.

Water Utilities
Manila Water recorded net earnings of P4.6 billion in the first nine months of the year, growing 1 percent from the same period last year. In the third quarter alone, its net income expanded 13 percent year-on-year to P1.6 billion on continued growth of the East Zone concession and higher contribution of its other businesses. Manila Water’s businesses outside the East Zone grew 3 percent, accounting for 12 percent of its consolidated net income.

Total billed volume rose 2 percent. In the East Zone alone, billed volume also grew 2 percent, while the combined billed volume of Manila Water’s local subsidiaries which includes Laguna Water, Boracay Water, Clark Water, and Cebu Manila Water, expanded 31 percent during the period.

Manila Water continues to expand its presence outside Metro Manila. Recently, through a subsidiary, it signed an agreement to operate the water supply system in Cu Chi District in Vietnam. It also entered into an agreement for a demonstration project to reduce non-revenue water in Bandung City, Indonesia.

Electronics Manufacturing
Integrated Micro-Electronics Inc. posted a net income of $22 million in the first nine months of the year, up 5 percent year-on-year on the back of operational efficiency improvements combined with the expansion of its automotive programs.

IMI’s revenues declined 4 percent to $621 million owing to weakness in Euro coupled with a weak China economy which impacted its computing and consumer segments.

IMI’s Europe and Mexico operations recorded combined revenues of $204 million for the nine-month period, a 1 percent growth year-on-year as the robust automotive growth was offset by the effect of currency weakness. Revenues from its electronics manufacturing services unit the Philippines was steady at $168.5 million, while its China operations declined 13 percent to $214.3 million as the country’s 4G rollout reached its projected volume and as the weaker economy adversely affected the consumer electronics customers.

Power Generation and Transport Infrastructure
AC Energy Holdings registered a net income of ?1.6 billion in the first nine months of the year as its power generation assets achieved more efficient operating levels, and as it realized a gain from the partial sale of its stake in North Luzon Renewable Energy Corporation, an 81-megawatt wind farm in Ilocos Norte.

AC Energy continues to expand its renewable energy portfolio. It recently entered into a partnership agreement with Bronzeoak Clean Energy Inc. for the development, construction and operation of a P1.3 billion-solar power farm in Bais City, Negros Oriental. The solar power farm will have a capacity of approximately 18 megawatts in the first phase with target completion in March 2016. The second phase involves the expansion of the solar power farm to up to 50 megawatts.

In transport infrastructure, AC Infrastructure continued to move forward with its public-private partnership projects. AC Infra, through Light Rail Manila Corporation, the concessionaire for the operations, maintenance and extension of LRT 1, took over the operations of the LRT Line 1 last September and has begun to introduce station rehabilitation and improvements. Its toll road, the Muntinlupa Cavite Expressway, has likewise started full commercial operations last July and has steadily ramped up traffic, while its automated fare collection systems project under AF Payments, Inc. has completed the roll out of its Beep cards on LRT lines 1 and 2 and MRT 3 with take-up hitting past the 1 million mark.

Balance Sheet
Ayala maintains a healthy balance sheet. Consolidated net debt to equity ratio stood at 0.53 to 1 as of September 30, 2015. Parent company cash reached P43.3 billion, putting its net debt to equity ratio at 0.41 to 1 and 0.21 to 1, if including its share from the undistributed earnings from its investee companies.

Light Rail Manila Corporation (LRMC ) the concessionaire for the operations, maintenance and extension of LRT1, of which AC Infrastructure Holdings Corp., a wholly owned subsidiary of Ayala Corporation has a 35% stake, took over the operations and maintenance of the LRT Line 1 from the Light Rail Transit Authority and Department of Transportation and Communications on September 12, 2015.

LRMC is the concessionaire for the operations, maintenance and extension of LRT1. It will operate and maintain LRT1 for 32 years. Once LRMC extends LRT1, the system will stretch 32.4 kilometers (from its current 20.7 kilometers) from Muñoz, Quezon City to Bacoor, Cavite (from its current endpoint at Baclaran). LRT1 serves approximately half a million passengers today. The extension will serve future high growth centers in the South like Cavite.

LRMC is taking over a train system that is severely deteriorated. It is the oldest train line in Metro Manila where maintenance has been a challenge over the past years. Out of the 100 Light Rail Vehicles (LRVs) committed to be delivered to LRMC upon take-over, only approximately 77 of the LRVs are in running condition. It will take time to fix the fleet and restore the system to optimal operating levels. The real benefit of an improved train system will not be felt by the riding public immediately but will come in due course particularly when the new trains are delivered by the government as part of its obligations under the Concession Agreement, which trains are scheduled to arrive in 2017, barring any delays. This notwithstanding, LRMC is committed to improve the public’s riding experience over time and gradually bring the LRT 1 system to better operating levels. Particularly, LRMC will begin works starting with improvements in the facilities on all the stations for the safety and security of customers. Nine of the eleven substations are also in line for rehabilitation to help ensure more reliable train services.

Ayala Corporation Chairman & CEO, Mr. Jaime Augusto Zobel de Ayala said, “We are excited to work with our partners MPIC, Macquarie, the DOTC and the LRTA. Both the government and the private sector have commitments to meet under the concession framework. It is imperative that we work together to ensure the successful delivery of this project for the benefit of the riding public.”

“After months of preparation, we are pleased to take on the operations of LRT 1,” said Manuel V. Pangilinan, the Chairman of LRMC. “We consider the DOTC and LRTA to be our partners in this project, and will work to improve the Line over time, and make it a system that our commuters will not only enjoy riding, but one they can be truly proud of.”

LRMC is owned by Light Rail Manila Holdings, Inc. (LRMH), Metro Pacific Light Rail Corporation (MPLRC), and Macquarie Infrastructure Holdings (Philippines) Pte. Limited. LRMH is jointly owned by MPLRC, a wholly-owned subsidiary of Metro Pacific Investments Corporation, and AC Infrastructure Holdings Corporation, a wholly owned subsidiary of Ayala Corporation.

AC Energy Holdings, Inc., a wholly owned subsidiary of Ayala Corporation, signed on September 8, 2015 a Subscription and Shareholders’ Agreement with Bronzeoak Clean Energy Inc., the investment arm of Bronzeoak Philippines Inc., for the development, construction and operation of a solar power farm in Bais City, Negros Oriental. The project will be owned and operated by Monte Solar Energy Inc. (MonteSol), a special purpose vehicle company, and shall be undertaken in two phases. The first phase is for an 18 MW solar power plant with a total project cost of P1.3 billion and is targeted for completion by March 2016. The second phase is for the expansion of the initial 18 MW solar power plant to up to 40 MW.

Bronzeoak was the developer and is managing shareholder of the 45 MW San Carlos Solar Energy (SacaSol) project, the country’s first and largest solar farm, inaugurated by President Benigno S. Aquino III in May of 2014. Sacasol was the first ever renewable energy project that was awarded feed-in-tariff under the Philippine FiT System.

AC Energy President and CEO John Eric Francia said, “We are excited to pursue this opportunity and expand our renewable energy assets in line with our broader objective to create a balanced energy portfolio. This project serves as a good entry platform for our investment in solar power, particularly as technology costs have dramatically improved over the past few years.”

Bronzeoak President Jose Maria P. Zabaleta said, “Montesol is part of Bronzeoak’s development portfolio of 202 MW of solar projects now in operation or under construction, and we couldn’t be any more excited to be welcoming a partner like AC Energy into MonteSol and into the solar power sector.”

“Renewable energy brings reliable and clean power to the countryside to accelerate our nation’s sustainable development,” added Montesol President Xavier P. Zabaleta, “And the investment of AC Energy will only accelerate the ongoing rapid development of Negros. Investments like these have been made possible by the strong leadership and project support of the provincial governors of Negros and the local governments of Bais, San Carlos, La Carlota and Manapla.”

On September 2, 2015, Ayala International Holdings, Ltd., a wholly owned subsidiary of Ayala Corporation, sold its ownership interest in Luzon Wind Energy Holdings B.V. (“Luzon Wind”) to DGA NLREC B.V.

Luzon Wind owns part of Ayala’s stake in North Luzon Renewable Energy Corp. (“NLREC”), being held by its wholly owned subsidiary AC Energy Holdings, Inc. NLREC owns and operates an 81MW wind farm in Barangay Caparispisan, Pagudpud, Ilocos Norte.

After the sale of Luzon Wind, AC Energy Holdings, Inc. still remains the largest owner of NLREC with an economic stake of approximately 36%.

DGA NLREC B.V. is a wholly owned subsidiary of Mitsubishi Corporation.

Ayala and Mitsubishi Corp. have been partners since 1974, when they signed an agreement to jointly explore investment opportunities in the Philippines.

Ayala Corporation’s net income rose 6 percent to P10.4 billion in the first half of the year driven by the double-digit growth in its telecom, real estate, banking, and electronics businesses, and boosted by the positive performance of its power generation unit.

Excluding the previous year’s divestment gains from the sale of Stream Global Services, Ayala’s business process outsourcing unit, Ayala’s net income in the first semester grew 31 percent.

Ayala’s solid performance in the first half of the year was a result of strong equity earnings contribution from its business units, which reached P13.2 billion, up 2 percent from a year ago. Without the divestment gains, equity earnings expanded 20 percent in the first half of the year.

The strong double-digit growth in the equity earnings of Globe Telecom, Ayala Land, Bank of the Philippine Islands, and Integrated Microelectronics combined with the positive contribution from AC Energy Holdings drove Ayala’s equity earnings during the period.

“Our earnings continue to grow at a strong pace in step with the overall performance of our business units. As demand drivers remain upbeat, and as our investments in power come onstream, we believe this strong growth will continue throughout the year,” Ayala president and chief operating officer Fernando Zobel de Ayala said.

“In addition, as our core businesses grow, we continue to seek new areas to invest in. We are developing new platforms in the healthcare and education spaces. We believe these two sectors present excellent opportunities for growth and scale,” Mr. Zobel added.

Real Estate
Ayala Land’s net income expanded 19 percent to P8.4 billion, lifted by the upbeat performance of its property development and commercial leasing operations. In property development, residential revenues grew 11 percent on new bookings and project completion while office sales expanded nearly twofold on the back of new launches from its upscale brand Alveo.

In commercial leasing, shopping center revenues went up 9 percent owing to higher occupancy and average rentals, while office leasing revenues expanded 16 percent due to the contribution of newly opened offices and the stronger performance of its existing offices. Revenues from hotels and resorts improved by 8 percent on higher occupancy.

Ayala Land launched 21 residential projects, the Ayala Triangle Gardens mixed-use development and other leasing projects worth P81 billion in the first semester. In addition, Ayala Land and Puregold Price Club recently opened its first supermarket venture named “Merkado” in UP Town Center.

Banking
As its core banking business continued to drive growth, net earnings of the Bank of the Philippine Islands expanded 16 percent to P9.3 billion. Total revenues improved 12 percent to P29 billion on higher net interest income and non-interest income. Net interest income grew 12 percent to P19 billion owing to a 15 percent-expansion in average assets. Non-interest income was up 12 percent to P10 billion as a result of higher income from securities trading, fees and commissions, and insurance business.

The bank’s operating expenses grew 7.6 percent year-on-year resulting in a cost-to-income ratio of 51.9 percent.

The bank’s total assets stood at P1.4 trillion at the end of the first half, a 9.7 percent-increase from the previous year. Deposit level increased 12 percent to P1.2 trillion while total loan portfolio grew 9 percent year-on-year. Asset quality remains strong, with a gross 90-day non-performing loan ratio of 1.77 percent, lower than last year’s 1.85 percent. Loan loss cover was maintained at 108 percent.

Consolidated CET 1 Capital Adequacy Ratio (CAR) was 14.3 percent while total CAR was 15.2 percent in the first semester.

Telecom
Globe Telecom registered a net income of P8.7 billion, up 27 percent year-on-year, bolstered by increased demand for data connectivity across the mobile, fixed line, and broadband segments.

Service revenues rose 13 percent to P53.8 billion with the highest growth coming from mobile browsing and other data revenues, jumping 53 percent to P9.5 billion. Broadband revenues expanded 30 percent to P7.6 billion, while fixed line data revenues surged 20 percent to P3.1 billion. Combined, all these comprise 38 percent of Globe’s total revenues during the period. Globe’s mobile and fixed line voice likewise improved, growing 10 percent and 7 percent, respectively. Its mobile subscriber base reached 48.4 million, 13 percent higher year-on-year. Similarly, Globe’s broadband subscriber base grew 55 percent to 3.5 million in the first semester of the year.

The solid revenue growth balanced out the higher subscriber and network-driven costs, with earnings before interest taxes depreciation and amortization (EBITDA) expanding 19 percent to P22.7 billion.

Following the approval of the National Telecommunications Commission, Globe converted $115 million of debt in Bayan Telecommunications into equity, effectively securing control of Bayantel. Subsequently, Globe acquired the stake held by the Lopez group in Bayantel, hiking up its stake in the company to over 98 percent.

Water Infrastructure
Manila Water’s net income dipped 4 percent from a year ago to P3 billion owing to higher operating expenses primarily from catch-up rental costs incurred by the East Zone concession during the period. This resulted in a 5 percent decline in the net profits of the East Zone concession to P2.6 billion despite a 2 percent-growth in billed volume. Excluding the extraordinary rental expense, Manila Water’s net income ended flat for the first semester.

Total billed volume grew 2 percent to 340 million cubic meters supported by billed volume growth outside the East Zone. Billed volume from Laguna Water surged 26 percent; Clark Water expanded 19 percent, while Boracay Water and Kenh Dong Water in Vietnam posted single-digit growth rates. Meanwhile, Cebu Manila Water Development started operations in January this year.

Manila Water continues to develop its footprint outside the East Zone concession. It expanded its Laguna Water operations to cover the entire province of Laguna with the addition of used water services in the concession. Moreover, Manila Water was awarded a 15-year bulk water supply contract by the Tagum City Water District.

Electronics Manufacturing
Integrated Micro-Electronics Inc. recorded a net income of $15.2 million, 35 percent higher from the previous year as operational improvements, continued focus on higher-margin products, and cost saving measures increased profitability.

Revenues slightly declined by 3 percent to $416.3 million on the back of a weakness in the euro coupled with a slowdown in demand in the computing sector. Excluding the impact of foreign exchange rates, revenues rose 2.4 percent during the period.

Power Generation and Transport Infrastructure
As its power generating assets come online, AC Energy Holdings Inc. registered a net income in the first half of the year of P198 million. This was driven by the contributions from its two wind farms, North Luzon Renewable Energy Corporation and NorthWind both in Ilocos Norte; and two coal plants, South Luzon Thermal Energy Corporation in Batangas, and GNPower Mariveles Coal Plant in Bataan.

AC Energy has assembled over 700 megawatts of attributable generating capacity across various assets. It continues to work on a pipeline of power projects to meet its goal of building around 1,000 MW in generating capacity over the next few years. Over the past three years, Ayala has committed over US$700 million in equity in developing various power generating projects.

In transport infrastructure, Ayala formally opened the Muntinlupa-Cavite Expressway (MCX) on July 24, 2015. Ayala is the concessionaire of MCX, a 4-kilometer tollroad connecting the Daang Hari Road with the South Luzon Expressway.

AF Payments Inc., a joint venture between the Ayala and First Pacific groups, has begun its roll out of the automated fare collection system through the Beep contactless cards. Implementation has started in LRT line 2, and is expected to be completed across all LRT and MRT lines within the next few months.

Balance Sheet
Ayala maintains a healthy balance sheet. As of June 30, 2015, parent company cash reached P38 billion, putting its net debt to equity ratio at 0.23 to 1 at the parent level, and 0.81 to 1 at the consolidated level.

Ayala Education, Inc., the education investment arm of Ayala Corporation, announced today that it has acquired a 60% stake in University of Nueva Caceres (UNC).

UNC is located in Naga, Camarines Sur, and was founded in 1948 as the first university in Southern Luzon outside Manila. It is one of the leading universities in the Bicol region, and has approximately 7,000 students, with many well-recognized programs, including arts and sciences, business and accountancy, computer studies, criminal justice, education, engineering and architecture, graduate studies, law, nursing and basic education (K-10).

UNC’s Chairman, Mr. Felicito Payumo, stated, “We are delighted that Ayala Education is investing in UNC because we believe that it will help us to further enhance the quality of our education and the employability of our graduates, through industry and technology driven innovations. We welcome Ayala Education as a partner who can strengthen UNC’s leading role in making good education accessible to Bicolanos as envisioned by its founder, former Secretary of Finance, Dr. Jaime Hernandez, Sr., and as nurtured by his children, Dr. Dolores H. Sison (past President), Erlinda H. Ravanera, Jaime J. Hernandez, Jr. and Jesus J. Hernandez, and their families.”

Mr. Jesus J. Hernandez, the son of UNC founder Jaime Hernandez, Sr., said, “We are very happy to have found in Ayala Education, a partner who shares our values and commitment to nation building, and will ensure that my father’s vision and legacy are sustained and strengthened, and that UNC continues to be a key engine of progress and development in Naga and the Bicol region.”

As a result of Ayala Education’s investment of Pesos 450 million, it will hold the majority of UNC’s board seats. In addition, UNC appointed Ayala Education’s CEO, Mr. Alfredo Imperial Ayala, as its President. Mr. Ayala stated, “We are very pleased to have been invited to partner with UNC, given its 67 years of success, leading position in Bicol and vibrant school spirit. UNC will be Ayala Education’s flagship university, and we are committed to working closely with all of UNC’s stakeholders to build upon its traditions of excellence that have served it so well.”

Ayala Corporation started investing in the education sector in 2012 through 100% owned Ayala Education, after recognizing the strong demand for Filipino talent from the IT-BPO and other service industries, such as banking, telecom, retail and tourism. Ayala Education’s vision is to deliver affordable and high quality education at the high school and college levels in order to equip students with real world skills through co-designing programs with prospective employers, and leveraging Ayala Education’s extensive experience in services training.

Jaime Augusto Zobel de Ayala, Ayala Corp.’s Chairman and CEO, said, “We are excited to join forces with UNC. Education is an important priority for Ayala. There is strong global demand for Filipino talent and our vision is to deliver high quality, affordable education that can significantly enhance the employability of graduates, through partnerships with regional leaders such as UNC.”

In Higher Education, Ayala Education has developed a Professional Employment Program (PEP) which delivers a highly differentiated educational experience and significantly improved employment outcomes through the application of learning technologies, constructivist methodologies, English immersion and deep industry partnerships. It has offered PEP since 2012 with its partners, Jose Rizal University, Emilio Aguinaldo College and University of Iloilo, and enabled many college graduates to attain attractive entry-level business employment.

Ayala Education has also been pioneering Senior High School since 2013 through its LINC (Learning with Industry Collaboration) Academy’s partnerships with Emilio Aguinaldo College and Arellano University. When they graduate, LINC students have the skills needed to either succeed in college or enter the professional workforce directly.

Ayala Education has also formed a majority owned joint venture, Affordable Private Education Center (APEC), with Pearson, the world’s leading learning company, to build a chain of low-cost secondary schools that provide quality education with affordable annual school fees. Since it started in 2013, APEC has grown to a total of 23 schools, with 3,400 students across Metro Manila, Rizal, Cavite and Batangas, offering Grades 7 and 8 for less than P70 a day, inclusive of use of books and computers.

You may also visit the following:

Visit UNC’s website: http://www.unc.edu.ph
Visit AEI’s website: http://ayalaeducation.com

Visit AEI’s Facebook pages:

APEC Schools: https://www.facebook.com/APECSchools
LINC Academy: https://www.facebook.com/LINCAcademyPhilippines

Ayala Corporation, the concessionaire of the Muntinlupa-Cavite Expressway (MCX), a 4-kilometer tollway connecting the Daang Hari Road to the South Luzon Expressway, announced it is opening the tollway to motorists on July 24, 2015 beginning 2:00 PM.

The connector road is the first toll road awarded under the Aquino government’s Public-Private Partnership program. Ayala signed the 30-year Concession Agreement in April of 2012. Notwithstanding limitations on delivery of the Road Right of Way to the concessionaire, Ayala began early works on the road in May of 2013. Full road access was not obtained until February of 2014.

John Eric Francia, Ayala Corp. Managing Director said, “We are pleased to be able to open the road to the public. We hope this will relieve traffic congestion in the roads in Muntinlupa, Cavite and Las Pinas areas, and allow motorists coming from the Cavite area quicker and easier access to SLEX.”

It is estimated that MCX can help save travel time for road users since it is 3 kilometers shorter than the Commerce Avenue-Filinvest route and 1.5 kilometers shorter than the Daang Hari-Alabang Zapote route to Makati. It is also expected to help relieve traffic congestion along the Daang Hari Road and Commerce Avenue where build-up of vehicles reach over a kilometer long at peak hours.

Ayala invested around P2.2 billion to build the road, including a 902 million cash payment to government and will operate and maintain it for 30 years. Makati Development Corporation served as the general contractor for the construction while Spanish firm Getinsa, an engineering firm and toll road concessionaire itself, served as Ayala’s technical adviser during construction. Operations and maintenance is in partnership with Egis Philippines, a toll concession operator based in France and who is involved in operations and maintenance of the North Luzon Expressway.

MCX toll rates are set at 17 pesos for Class 1 vehicles, 34 pesos for Class 2 vehicles, and 51 pesos for Class 3.

Ayala Corporation, its 80%-owned subsidiary MCX Tollway Inc. (MCXI), South Luzon Tollway Corporation (SLTC), and Manila Toll Expressway Systems Inc. (MATES) today signed a Memorandum of Agreement on the Interoperability of the Muntinlupa-Cavite Expressway (MCX) (formerly known as the Daang Hari-SLEX Connector Road) and the South Luzon Expressway (SLEX), as well as an accompanying Addendum to the MOA on Interoperability.

The MOA on Interoperability and its Addendum provide the framework that will govern the interface and integration of the technical operations and toll collection systems between MCX and SLEX to ensure seamless travel access into MCX and SLEX for road users. MCX is Ayala’s first toll road project under the Philippine government’s Public Private Partnership Program. It is a vital access road that links the rapidly growing city of Muntinlupa and the province of Cavite to Metro Manila and the rest of Southern Luzon.

MCXI, which is 80% owned by Ayala and 20% by Getinsa Ingeniera SL, is the facility operator of the MCX. SLTC is a subsidiary of San Miguel Corporation and is the grantee of the concession to finance, design and construct the SLEX, while MATES is the grantee of the concession to operate the SLEX.

MATES and MCXI also executed today a Toll Collection Services Agreement, under which MATES was appointed a sub-contractor of MCXI for the provision of toll collection services for the MCX toll plaza.

Ayala Land and Globe tied for the second spot as the Philippines’ Best Company in the 2015 All-Asia Executive Team, an exclusive ranking of the country’s corporate leaders by investment professionals. The annual ranking is presented by Institutional Investor, one of the world’s foremost financial publications.

Globe’s Ernest Cu placed second as Asia’s Best CEO in the Telecoms sector, and Ayala Land’s Bernard Vincent Dy placed third as Asia’s Best CEO in the Property sector, tied with Ming Li of China’s Sino Ocean Land Holdings. Globe’s Albert de Larrazabal was ranked third Asia’s Best CFO in the Telecoms sector, tied with Pankaj Miglani of India’s Bharti Airtel.

Ayala Land earned two more honors: third place for Asia’s Best Investor Relations (Property) and the same ranking for Asia’s Best Analyst Day (Real Estate), tied with Stockland Corp. of Australia. The rankings were obtained from sell-side analyst responses.

“Once again, Ayala group is represented through strong placements for Globe Telecom and Ayala Land,” said Institutional Investor Asia Publisher Prachish Chakravorty. “These are an excellent set of results and proof again of the success of Ayala’s commitment through its various businesses to transparency and open communication with global institutional markets.”

The survey results were based on feedback from 820 buy-side analysts and money managers at nearly 500 firms that collectively manage an estimated $1.09 trillion in Asia (ex-Japan) equities, and from 625 analysts at 94 brokerages. They evaluated a total of 1,568 companies across the region based on eight IR attributes, including accessibility of senior management, quality and depth of answers to inquiries, and transparency of financial reporting and disclosure. Buy- and sell-side responses were tabulated separately to produce distinct rankings. The poll concluded in March and results were published in July.

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