Category: News

BULIG BISAYA | The Ayala group is responding to the crisis in the aftermath of Typhoon Yolanda through the restoration of vital services such as telecommunications and banking, as well as relief operations carried out by its companies and employees in cooperation with government agencies and partner organizations.

GROUPWIDE UPDATES

• The Ayala group has made an initial donation of P10 million to DSWD and various organizations.
• Business partners of Ayala companies have also pledged to donate in cash and in kind, including Mitsubishi Corporation (JPY 20,000,000, or approximately US$200,000 through Ayala Foundation); SingTel (S$50,000 for Globe’s relief operations); Optus (150 satellite phones); Amdocs (water purifying equipment); and Milestone Group (AU$5,000). Pledges are also coming in from employees of these partner companies including those of CII in Vietnam and Milestone.
• Ayala Aviation continues to transport personnel and relief goods from Manila/Cebu to Tacloban in support of the Ayala group’s relief efforts led by BPI and Globe, in coordination with Ayala Business Club (ABC) Cebu.
• Close to 60% of base stations in affected areas have been restored as of 6AM today. In the Visayas alone, 53% of 3G-enabled sites and 40% of 2G sites are now operational.
• In addition to Libreng Tawag, Libreng Charging, and Libreng Internet services already provided by Globe, the company has also deployed Cellsite on Wheels (COW) to Tacloban and Borongan.
• Addressing other areas, Ayala Land sent medical doctors to Iloilo. Manila Water shipped 150 boxes (8,560 cups) of Baso Water to Leyte to benefit the towns of Tanauan, Tolosa, Dulag, and Palo. Included in the shipment are 20 boxes of food, 20 boxes of bottled water, 30 boxes of clothes, and a sack of rice from its employees. ABC Cebu will send a generator set to Northern Cebu.
• For customers in Leyte, Samar, Cebu, Aklan, Antique, and Capiz, Globe is offering 25 free SMS per day that may be used for local and international messages, starting today until November 17. The initiative is in coordination with other telcos.
• In the Central Eastern Visayas area, 5 BPI branches remain closed, all in Leyte (3 in Tacloban, 1 in Ormoc, 1 in Baybay); all other BPI branches in Cebu, Batangas/Palawan, and Panay, and BPI Family Savings Bank branches in the VisMin area are operational with a few on offline mode.
• Ayala Foundation is taking the lead in mobilizing employees and the public for donations in cash and in kind.

DROP OFF POINTS FOR IN-KIND DONATIONS

Metro Manila

• Tower One and Exchange Plaza, Ayala Avenue, Makati City – Suite E2, Ground Floor
• Ayala Malls (Glorietta, Greenbelt, TrinoMa) – Concierge
• Manila Water – Headquarters in Quezon City, and 8 business area offices (Balara, Cubao, Marikina, Pasig, Mandaluyong, Makati, Taguig, and Rizal)
• BPI Building, Ayala Avenue, Makati City – BPI Head Office Canteen c/o BPI Foundation between 7 AM and 4:30 PM (Wednesday) and until 2 PM, November 14 (Thursday)

Cebu

• Ayala Center Cebu – Concierge

DONATE CASH FOR RELIEF EFFORTS

• Ayala Foundation’s Laging Handa and other channels – www.ayalafoundation.org
• BPI – Log on to www.bpiexpressonline.com > Payments & Reloading > eDonations
• Globe GCash – Dial *143#, select GCASH > Others > Donate. Or use the GCash mobile app on Android and Blackberry or go to www.globe.com.ph/gcashonline
• ADeals.ph – Purchase “donation vouchers” to be coursed through Ayala Foundation

For donations from outside the Philippines:

Ayala Foundation

Wire transfer to: Ayala Foundation, Inc
Account Number: 0014-0463-48
SWIFT Code: BOPIPHMM
Bank of the Philippine Islands
6768 Ayala Avenue cor. Paseo de Roxas Makati City 1226 Philippines

Or donate online at:
http://feedthehungryphil.org/ayala-foundation-inc/

BPI Foundation

Waived remittance fee until November 30, 2013 for donations sent through BPI Remittance Centers or BPI Europe Plc to:

BPI Foundation CA 0011-1530-89
Reference Number: YOLANDA-[Indicate Donor Name]
SWIFT Code: BOPIPHMM

For other advisories, follow @Ayala_1834 (Twitter) and Ayala Corporation(Facebook).

Bulig Bisaya | The Ayala group is responding to the crisis in the aftermath of Typhoon Yolanda through the restoration of vital services such as telecommunications and banking, provision of potable water, as well as relief and rebuilding operations carried out by its companies and employees in cooperation with government agencies and partner organizations.

“At this stage, our company and myself personally… we’re focused mostly on restoration, we’re focused on relief, we’re focused on evacuating our own Globe corporate people.” – Ernest Cu, Globe President and CEO, in an interview with CNBC Asia on November 14

Ayala Foundation has received P2.1M in actual donations and P21.8M in pledges. Of these funds, P200,000 has been used by ABC Cebu for food packs for Tacloban evacuees and P60,000 was given to support DSWD’s logistical needs. In partnership with the World Food Programme, P2.15M will be deployed to provide assistance to about 4,000 families.

Ayala Land’s Alay 25 sa Visayas aims to raise P25 million or more to provide relief and temporary shelter to the homeless. On November 20, donation boxes will be available at the Ayala Triangle Gardens during the start of the lights and sound show. Ayala Malls will also present 8 Christmas concerts for the benefit of typhoon victims.

Globe has restored 70% of the network in the Visayas. Libreng Tawag and Libreng Charging are available in 54 sites. Libreng Internet is also available in San Jose, Antique, and Villamor Air Base.

Manila Water is producing an additional 15,000 to 20,000 Baso Water until Saturday. Its Mobile Treatment Plant (MTP) is now in Cebu City awaiting deployment to Bantayan Island. The company is also providing trucking services to transport relief goods from the repacking center at Ateneo de Manila University to Villamor Air Base or the Manila pier.

For updates on social media:
Facebook, Flicker – Ayala Corporation
Twitter – @Ayala_1834
Instagram – Ayala_Corporation

GROUPWIDE UPDATES

• Donation and fundraising drives among employees have been activated across Ayala companies in cooperation with DSWD, Red Cross, and other partner organizations.
• Globe continues to substantially improve mobile connectivity in the Visayas region. As of 6AM, November 12, Globe has restored 54% of base stations in afffected areas. Restoration of affected sites including those in southern Luzon and Mindanao involved 870 base stations.
• Globe has also increased the number of Libreng Tawag and Libreng Charging operations in the Visayas, to 12 and 28 stations, respectively. The company is also providing Libreng Internet broperations in Antique, in coordination with the Red Cross. Relief operations were also undertaken in Ormoc, Iloilo, Bantayan, Roxas, and Antique.
• Of the 92 BPI and BFSB branches in southern Luzon and VisMin, five remain closed; for the rest, it’s business as usual except for 12 branches operating offline due to the absence of communication lines. Regular monitoring of all ATMs is done to ensure their availability; about 64% of ATMs in affected areas are working.
• Manila Water produces Baso Water (potable water in sealed plastic cups) and distributes these to affected areas.
• Ayala Aviation’s plane and choppers fly daily from Manila/Cebu to support the Ayala group’s relief efforts in Leyte.
• Ayala Foundation has partnered with ADeals.ph to allow member-users of the Ayala Malls portal to make a donation to help victims of the typhoon.

HOW TO HELP
Donate cash through these channels:

Ayala Foundation Laging Handa | Go to www.ayalafoundation.org
Globe GCash | Dial *143# and select GCash, enter your MPIN and select Red Cross
BPI eDonations | Log on to www.bpiexpressonline.com, choose Payments & Reloading>eDonations

Donate in kind and bring the items to:
Tower One and Exchange Plaza – Ground floor, Room E2
Ayala Malls – Concierge

Volunteer
The DSWD National Resource Operation Center is open 24/7 for relief goods repacking at Chapel Road, Pasay City (near Airport Terminal 2). Contact 851-2681 or 852-8081 for scheduling.

Need updates or help? Use these hashtags on Facebook or Twitter: #YolandaPH #ReliefPH #RescuePH

With reports from Ayala, BPI, Globe, Manila Water, and Ayala Foundation

GIC Private Limited (GIC) and Ayala Corporation have acquired DBS Bank Ltd’s (DBS) remaining ownership interest in Ayala DBS Holdings, Inc. (ADHI). The stake is equivalent to a 9.9% indirect ownership stake in the Bank of the Philippine Islands (BPI). Through this transaction, GIC and Ayala will effectively acquire 5.6% and 4.3% in BPI, respectively.

GIC and Ayala purchased unlisted ADHI shares for a total transaction value of P29.6 billion. GIC’s investment is recognition of BPI’s long-term value and the Philippine economy’s strong fundamentals and growth prospects. Ayala’s total ownership in BPI will increase from 44.0% to 48.3%.

DBS CEO Piyush Gupta said, “DBS has been a strategic investor in BPI since 1999. This divestment is in line with DBS’ focus on its core markets. We are pleased to have been part of BPI’s growth in the Philippines over the last decade and have a productive relationship with the Ayala Group. We believe that the transaction will have a positive outcome for all parties.”

Ayala Chairman and CEO Jaime Augusto Zobel de Ayala said, “We thank DBS for the 14 years of partnership and support in BPI which undoubtedly contributed to BPI’s continued position as the premier financial institution in the Philippines.” Mr. Zobel added, “Moving forward, we are delighted to have GIC as part of the shareholder group of BPI. GIC and Ayala both have a solid track record for making long-term investments and this partnership speaks to an alignment of values and goals as shareholders. The entry of GIC also ensures the continuity of a stable and committed shareholder base for BPI.”

Ayala President and COO Fernando Zobel de Ayala noted, “This acquisition is both a value and earnings accretive investment for Ayala. BPI has been a significant growth driver for Ayala over the years and we believe its earnings growth momentum will continue in step with the expansion of the Philippine economy.”

Last week, BPI announced it will raise capital of up to P25 billion by way of a rights offering. AC and GIC, through ADHI, intend to support this initiative.

About Ayala Corporation
Ayala is one of the largest conglomerates in the Philippines. Founded in 1834, Ayala maintains leadership positions in real estate, financial services, telecommunications, water infrastructure, electronics manufacturing services, automotive dealerships, and business process outsourcing. Recently, it expanded into other strategic sectors such as power and transport infrastructure. Ayala’s listed units have a combined market capitalization of P1.4 trillion, accounting for about 20 percent of the Philippine Stock Exchange Index’s market cap.

Ayala’s strong financial position and low gearing level provide more than adequate room to take on investments in new growth areas while optimizing the value of its existing portfolio. At the parent level, cash at the end of June amounted to nearly P36 billion, with the debt at close to P70 billion. Its net debt to equity ratio remains comfortable at 0.25 to 1. Last week, the company announced it raised P10 billion in an offering of preferred shares.

About GIC
GIC is among the world’s largest fund management companies. It was established in 1981 to manage Singapore’s foreign reserves. GIC strives to achieve good long-term returns on assets under its management, so as to preserve and enhance Singapore’s reserves. Since its inception, GIC has grown from managing a few billion dollars to well above US$100 billion today. GIC’s investment framework capitalises on its strengths which include the ability to take a long-term investment perspective, a global presence, capabilities to invest in cross-asset opportunities, and a skilled and experienced team. It has investments across 40 countries and in assets such as equities, fixed income, real estate and private equity. GIC has been investing in emerging markets for over twenty years. GIC is headquartered in Singapore with a network of offices in nine cities worldwide.

Media Contact :

Ayala :

Emily De Lara

Tel: +632 908 3456

Analysts Contact:

Ayala:

Nona Torres

Tel: +632 908 3446

GIC:

Ms. Mah Lay Choon

Senior Vice President

Corporate Governance & Communications

GIC Pte Ltd

DID: +65 6889 6841

Mobile: +65 98389425

Celest Jovenir

Tel: +632 908 3394

On November 8, Typhoon Yolanda (Haiyan), a Category 5/Signal #4 typhoon, made six landfalls in the Philippines over most of the Visayas region and parts of southern Luzon and Mindanao. In its aftermath, the Ayala group mobilized people and resources to reach out to affected communities.

GROUPWIDE UPDATES

As of 3AM, November 11, Globe has restored 50% of its communication services in the Visayas
To serve the communication needs of residents, Globe sent a mobile cell site to Tacloban on Sunday in coordination with the Philippine Navy. It also put up Libreng Tawag booths in the severely battered areas of Iloilo, Antique and Romblon and has opened its manned cell sites in Southern Leyte, Bohol, and Antique. Twenty four Libreng Charging stations have been set up in areas with no commercial power in Southern Leyte and Bohol. For the list of locations, visit facebook.com/globePH.
Manila Water’s Mobile Treatment Plant is ready for deployment to provide clean and potable water to residents of affected areas in the Visayas. In the meantime, Baso Water (potable water in sealed plastic cups) will be produced and distributed.
Ayala Aviation’s plane and choppers fly daily from Manila/Cebu to support the Ayala group’s relief efforts in Leyte.
AFI Visayas office is coordinating with partners on the ground for distribution of donations.
Globe is undertaking its first wave of relief operations today in these areas: Iloilo, Roxas, Antique in Panay Island; Malapascua and Bantayan in Northern Cebu; and Ormoc, Leyte.

HOW TO HELP
Donate cash through these channels:

Ayala Foundation Laging Handa | Go to www.ayalafoundation.org
Globe GCash | Dial *143# and select GCash, enter your MPIN and select Red Cross
BPI eDonations | Log on to www.bpiexpressonline.com, choose Payments & Reloading>eDonations

Donate in kind and bring the items to:
Tower One and Exchange Plaza – Ground floor, Room E2
Ayala Malls – Concierge

Volunteer
The DSWD National Resource Operation Center is open 24/7 for relief goods repacking at Chapel Road, Pasay City (near Airport Terminal 2). Contact 851-2681 or 852-8081 for scheduling.

Need updates or help? Use these hashtags on Facebook or Twitter: #YolandaPH #ReliefPH #RescuePH

With initial reports from Ayala, Globe, Manila Water, and Ayala Foundation

Fernando Zobel de Ayala, president and COO of Ayala Corporation, and Weiming Soh, Volkswagen president for commercial operations in Greater China/ASEAN, led the celebration marking the return of Volkswagen to the Philippines.

More than 400 guests, including members of the Volkswagen China/ASEAN Executive Committee and board directors and senior officers of the Ayala group, attended the brand launch held on September 27 at Ayala’s headquarters at Tower One in Makati.

The brand launch was followed by the People’s Car Celebration on September 28 to 29 at Greenbelt, where the public participated in a number of interactive exhibits and viewed nine models of Volkswagen. The celebration culminated in the raffle of the first-ever 21st Century Beetle in the Philippines.

Ayala Automotive Holdings Corporation is the official distributor of Volkswagen passenger vehicles in the Philippines. Its first dealership in Bonifacio Global City is now open.

Northern Luzon UPC Asia Corporation (NLUPC) has officially commenced construction of the 81-megawatt Caparispisan Wind Energy Project in the municipality of Pagudpud, Ilocos Norte. NLUPC is the joint-venture company established in July by Ayala’s energy investment arm AC Energy Holdings Inc, the Philippine Investment Alliance for Infrastructure (PINAI), and UPC Philippines Wind Holdco. The company is tasked with developing wind power projects in the province of Ilocos Norte.

The groundbreaking ceremony held on September 3 in Sitio Ayoyo was attended by representatives of the national and local governments led by Department of Energy Assistant Secretary Daniel Ariaso (on behalf of Secretary Jericho Petilla), Ilocos Norte Governor Imee Marcos, Pagudpud Mayor Marlon Sales, and Vice Mayor Rex Benemerito. They were met by heads of the project proponents and partners, including AC Energy President Eric Francia and CFO Ned Goseco, UPC Chairman Brian Caffyn and Managing Director Troels Carstensen, and Macquarie Managing Director Michael Rodriguez on behalf of PINAI.

“Ilocos can really solidify itself as the wind capital of the Philippines,” said Francia to members of the local communities who witnessed the event. “We are very proud to be a partner of the government, both provincial and local, to make this a reality and to maximize the resources that you are very much blessed with in this part of the country.”

Governor Marcos expressed full confidence in the project’s impact on the province not only in power generation but also by way of jobs creation and corporate social responsibility programs. “Certainly the area of energy, particularly wind, has been a genuine windfall for the province and we welcome all the resources, technology, and the production of energy in the province,” she said. “You can count on us for full support.

There are many synergies that can be derived, indeed, if public and private partnerships can be launched. We are hopeful that this will provide yet another template and another pioneering effort for Ilocos Norte in renewable energy.”

Ariaso underscored the importance of the support of host communities in the success of renewable energy projects: “The impact may not necessarily be early, so it is for all of us, especially the LGUs, to help the project through.”

The Caparispisan wind farm, which may have up to 32 wind turbines, is NLUPC’s first project. It has an investment value of up to $250 million, and the initial phase is expected to be connected to the grid by mid-2014. Aside from the Caparispisan wind farm, the joint venture company has a portfolio of over 200 megawatts in wind energy projects under development.

Since 2011, AC Energy has committed over $400 million of equity in conventional and renewable energy technologies. PINAI is a P26-billion fund comprised of the GSIS, Dutch pension fund asset manager APG, the Asian Development Bank, and the Macquarie Group. UPC Philippines is a wholly owned company of UPC Renewables Partners, which has nearly 20 years of experience in developing and operating wind farms in Europe, USA, and Asia.

Ayala Corporation posted a net income of P7.3 billion for the first half of the year, 20 percent higher than its year-ago level. The robust performance of Ayala’s property and banking units, boosted by its increased stake in the latter, primarily drove its strong earnings momentum. Higher earnings of its water unit and improved performance of its business process outsourcing business likewise contributed to Ayala’s profits during the period.

Netting out the impact of the accelerated depreciation as a result of the network modernization of Globe Telecom, Ayala’s core net income grew even higher to P8.9 billion, a 42-percent improvement year on year.

The conglomerate’s strong performance was driven by robust equity earnings which reached P9.5 billion, a 24-percent jump year on year. Ayala’s consolidated revenues likewise increased 21 percent to P74.6 billion.

“The first half broadly turned out as expected as we sustained growth momentum across our key businesses. Our core businesses made great strides in growth and expansion while our international businesses continued to improve. We are confident this strong performance will carry on this year. The encouraging macroeconomic conditions continue to present opportunities for further investment and we will continue to take advantage of these moving forward,” Ayala President and Chief Operating Officer Fernando Zobel de Ayala noted.

REAL ESTATE

Ayala Land, Inc.’s (ALI) net income during the first semester expanded 30 percent to P5.6 billion from a year ago as it sustained its revenue growth across all business segments and achieved stable margins during the period. Its total revenues climbed 36 percent to P36.6 billion driven by the 38-percent jump in real estate revenues. This was primarily a result of higher bookings of residential projects, the sale of office units and commercial lot sales mainly from the Food Terminal, Inc. property which ALI acquired last year.

Revenues from its commercial leasing portfolio rose 17 percent to P8.5 billion in the first half of 2013. Shopping center revenues increased by 10 percent with the addition of gross leasable area (GLA) in ALI’s new malls. Office leasing posted a 13-percent increase, as a result of higher occupied GLA and the escalation of lease rates in its existing facilities. Meanwhile, hotel revenues grew 46 percent and contributed 22 percent of total commercial leasing revenues as the number of rooms doubled and average room rates increased across the board.
 
BANKING

Bank of the Philippine Islands (BPI) continued to perform strongly in the first half of the year, posting a net income of P12 billion, a 27-percent growth from its year-ago level. This was driven by the 14-percent improvement in the bank’s total revenues coupled with a modest 6-percent increase in operating expenses. The growth in revenues was boosted by higher net interest income, which went up 6 percent and non-interest income, which soared 23 percent from a year ago. Gains across fee-based income, foreign exchange, securities trading and insurance income drove up the non-interest income during the period.

The bank’s loan growth remained strong across all segments, with net loans expanding 17 percent to P564 billion. Lending to corporates went up 18 percent, while consumer loans rose 15 percent. BPI’s asset quality remains strong, with non-performing loan ratio flat at 2.2 percent.

TELECOM

Globe Telecom’s consolidated service revenues for the first half of 2013 rose by 9 percent year-on-year to P44.5 billion, driven by its mobile business, which accounted for 80 percent of revenues. Revenues from the broadband and fixed line data segments also contributed to the growth, collectively making up for 17 percent of revenues.

Globe’s robust revenue growth offset the higher operating expenses, resulting in a 7-percent year-on-year improvement in its earnings before interest taxes depreciation and amortization (EBITDA) to P18.9 billion in the first half.

The impact of the accelerated depreciation charges arising from the ongoing network modernization, however, resulted in a 72-percent decline year on year in reported net income to P1.4 billion. Excluding that, Globe’s core net income actually grew by 13 percent to P6.4 billion.

WATER INFRASTRUCTURE

Manila Water Company, Inc. (MWC) posted a net income of P2.9 billion, 11 percent higher year-on-year on higher billed volume and expanded service connections. Businesses outside the East Zone also continued to contribute during the period. Revenues rose 6 percent to P7.6 billion with contribution from Laguna Water Company surging 52 percent, Boracay Island Water, 21 percent and Clark Water, 5 percent.

Manila Water continues to invest in improving its service to East Zone customers to ensure 24/7 water availability and expand its water and wastewater coverage.

INTERNATIONAL

Integrated Micro-Electronics, Inc. (IMI) registered an 8-percent improvement in revenues to US$350.5 million. This was a result of the robust performance of its operations in Europe, Mexico, and the Philippines, which offset the slowdown in China. Operations in Europe and Mexico grew 37 percent year-on-year, while Philippine operations also posted a healthy 11-percent growth. However, revenues from its China and Singapore operations declined by 9 percent year on year. Lower capacity utilization resulted in a 33 percent decline in net income during the period.

Ayala’s BPO unit, LiveIt, achieved continued growth in revenues and profitability in the first half of 2013. share of revenues reached US$190 million, up 15 percent year-on-year, while share of EBITDA reached US$16.3 million, up 21 percent due primarily to higher revenues and improved profitability at Stream and Affinity Express. Stream reported a 26-percent increase in revenues and a 52-percent increase in EBITDA for the second quarter, due to an 11-percent organic growth and the acquisition of UK-based LBM Holdings Limited, a premier demand and lead generation solutions provider. LiveIt exited the second quarter with share of EBITDA of US$8M, representing the tenth straight quarter of year-on-year growth in share of EBITDA. Further improvement is expected in the second half of 2013 due to organic growth, seasonality and Stream’s acquisition of LBM.

POWER AND INFRASTRUCTURE

With its strong balance sheet and cash position, Ayala remains on track with its investment plan to scale up its power assets and participate in the government’s transport infrastructure-related public private partnership projects.

Its energy unit, AC Energy Holdings, Inc., continued to expand its portfolio. It recently announced its joint venture agreement with UPC Philippines Wind Holdco B.B. and the Philippine Investment Alliance for Infrastructure (PINAI) Fund to develop a wind farm in Ilocos Norte with a capacity of about 81 megawatts. The unit also recently partnered with Power Partners Ltd. for the construction and operation of a 405-megawatt thermal power plant in Kauswagan, Lanao del Norte.

Ayala’s transport infrastructure unit, AC Infrastructure Holdings Corporation, continues to work with various partners to bid for significant size infrastructure projects. It has prequalified to bid for the Light Rail Transit 1 extension and the adjacent automatic fare collection system projects, as well as the Mactan Cebu International Airport.

BALANCE SHEET

Ayala’s balance sheet remained healthy. At the parent level, cash at the end of June amounted to nearly P36 billion, with the debt at close to P70 billion. The conglomerate maintained a comfortable gearing level with net debt to equity ratio of 0.25 to 1. On a consolidated basis, net debt to equity ratio likewise remained comfortable at 0.67 to 1.

This year, Ayala declared a cash dividend of P2.40 per share, 20 percent higher than the regular P2.00 per share payable on August 12, 2013.

The above press statement pertains to the disclosure submitted to the SEC, PSE, and PDEx by Ayala Chief Finance Officer Delfin Gonzalez, Jr.

AC Energy Holdings, Inc. (ACEHI), a wholly owned subsidiary of Ayala Corporation, signed an Investment Framework Agreement and Shareholders’ Agreement with UPC Philippines Wind Holdco I B.V., a wholly owned company of UPC Renewables Partners (UPC) and the Philippine Investment Alliance for Infrastructure (PINAI) fund, comprised of the Government Service Insurance System, APG and Macquarie Infrastructure Holdings (Philippines) Pte. Limited, to develop wind power projects in Ilocos Norte through Northern Luzon UPC Asia Corporation (NLUPC) as their joint venture company. An initial equity investment has been agreed for the first 81MW project with an investment value of approximately US$220 million with ACEHI funding 64% of equity, PINAI 32% and UPC 4%.

The 81MW project received a declaration of commerciality on June 17, 2013 from the Department of Energy. Accordingly, NLUPC has signed the Turbine Supply, Installation and Service Availability Agreements with Siemens Wind Power A/S and Siemens Inc. and has issued the Notice to Proceed. The project’s initial phase is expected to be connected to the grid by June 2014. The joint venture company has a portfolio of additional wind energy projects of over 200MW under development.

The project will grow ACEHI’s wind farm portfolio in the Philippines, building on its current 50% ownership of NorthWind Power Development Corporation which already operates a 33 MW wind farm in Bangui, Ilocos Norte. Over the past two years, ACEHI has established a robust pipeline of power assets and has committed over US$300 million of equity in conventional and renewable energy technologies.

UPC has nearly 20 years of experience in developing, financing, constructing, owning and operating wind farms in Europe, USA and Asia with gross generating capacities of approximately 2,000MW. UPC continues to have a significant wind project development pipeline globally.

PINAI is a Php26 billion fund dedicated to equity investment in Philippine infrastructure assets. PINAI is managed by Macquarie Infrastructure and Real Assets (MIRA), part of Macquarie Group. MIRA manages more than US$100 billion worth of infrastructure assets globally, including more than 16.7GW of power generation assets. PINAI’s investors include the Government Service Insurance System, Dutch pension fund asset manager APG, the Asian Development Bank and Macquarie Group.

Siemens is a leading supplier of wind power solutions for onshore, offshore and coastal sites and has installed over 12,700 wind turbines globally which equals to over 21,100MW installed capacity as of July 2013. Wind Power is part of Siemens’ Environmental Portfolio. In fiscal 2012, revenue from the Environmental Portfolio totaled about €33 billion, making Siemens one of the world’s largest suppliers of eco-friendly technologies. Siemens Wind Power Asia Pacific Region is headquartered in Shanghai, China.

This press statement pertains to the disclosure submitted to the SEC, PSE, and PDex on July 12, 2013, by Ayala CFO Delfin C. Gonzalez Jr.

German auto giant Volkswagen formally signed the appointment of Automobile Central Enterprise, Inc. (ACEI), a wholly owned subsidiary of Ayala Corporation, as its Philippine distributor.

In a simple ceremony held on May 27 at Ritz Carlton Hotel in Hong Kong, Weiming Soh, president for commercial operations in Greater China/ASEAN, affixed his signature on the Importeur Agreement with Fernando Zobel de Ayala, president and COO of Ayala, and John Philip Orbeta, president and CEO of ACEI.

“The dominant position of Volkswagen in the global automotive market will boost Ayala’s strong presence in the growing Philippine automotive industry,” said FZA. “We are excited to bring Volkswagen’s innovation and technology to the Philippine market complemented by an outstanding customer experience.”

Said Soh: “In line with our ASEAN growth strategy and the vision to be the world’s most successful automobile manufacturer in ecological and economical terms by 2018, we found in Ayala Auto a dedicated, resourceful, and experienced partner in the Philippines that will strengthen the Volkswagen brand.”

The Volkswagen Group is Europe’s biggest and the world’s third largest with global sales of 9.3 million units in 2012 up 11% from the previous year. As of 2012, its global market share for passenger cars accounted for 12.8%. The group operates 100 production plants in 27 countries and employs more than 550,000 people worldwide. The Volkswagen Group sells its vehicles in 153 countries.

Ayala Auto has been a key player in the local automotive industry for over 20 years operating dealerships of Honda and Isuzu in Metro Manila and the Visayas region. It has minority interest in the distributor companies of both brands.

Said Orbeta: “Ayala is now making a comprehensive program to successfully bring back Volkswagen to the Philippines. We are finalizing plans to roll out several models in multiple showrooms at the earliest time. We would like to contribute to the growth of the auto industry with the appointment of new dealership partners in the coming months.”