Tag: Ayala Corporation

Philippines – Holding company Ayala Corporation has appointed four new leaders to drive business growth. The company has promoted Mariana Beatriz E. Zobel de Ayala and Mark Robert H. Uy to managing directors, and Jaime Alfonso E. Zobel de Ayala and Jaime Z. Urquijo to executive directors.

With the company recognising their capabilities to drive transformation, the new leaders will focus on strategic areas of Ayala’s business.

As the managing directors, Mariana is set to focus on Ayala Land’s leasing business while Uy is leading the improvement of Ayala’s portfolio of businesses. Mariana’s role includes reinventing the company’s malls and offices amidst a post-office era. Meanwhile, Mark is looking to nurture the long-term success of existing businesses while discovering new ones.

On the other hand, Jaime Alfonso is focused on raising Ayala’s standards for governance while fostering growth for ACMobility, Ayala’s energy vehicle platform.

“Each of our senior promotees represents Ayala at its best – purposeful, forward-looking, professional, engaged. They will help make for an even better Ayala as we look ahead to completing two centuries of building businesses that enable people to thrive,” Cezar P. Consing, Ayala Corporation president and CEO, said.

“Over its 191 years, Ayala has demonstrated a history of smooth leadership transitions anchored on thoughtful succession planning. The promotions of these four leaders are part of a deliberate, longer-term succession plan being implemented across the Group,” Francisco Romero Milán, chief human resources officer of Ayala Corporation, commented.

Recently, Ayala Land refreshed its hotels and resorts arm to Ayala Land Hospitality as it invested US$500 for its hotel expansion. 

Ayala is also focusing on its electric vehicle (EV) business as ADB finances its installation of charging stations in the Philippines.In January, ACMobility acquired Evro, 917Ventures’ EV charging network.

Manila, Philippines – Mitsubishi Corporation (MC) has announced that alongside Ayala Corporation (AC), and AC Ventures Holding Corp (ACV), they have reached an agreement on MC’s investment in ACV subject to the execution of definitive transaction documents and the satisfaction of customary closing conditions. 

AC is a major conglomerate in the Philippines and ACV currently holds an about 13% stake in Mynt, the parent company of GCash. Under the terms of the agreement, MC shall acquire a 50% stake in ACV and pursue future investment opportunities.

In addition, MC and AC are going to sign a memorandum of understanding (MoU) on a comprehensive collaboration in the Philippines. The MoU covers additional business developments aimed at stimulating the country’s economic growth.

MC aims to create a prosperous society and a “Smart-Life” ecosystem in the form of improved lifestyle for consumers by launching multiple attractive businesses that address social issues and consumer needs in each region and country, and organically connecting them. These ecosystem addresses both challenges faced by social issues and consumer needs, and sustainable growth of our business portfolio.

Data notes that around 80% of the country’s citizens have tried using the GCash mobile wallet, which is Mynt’s core business. With a vision to accelerate financial inclusion in the Philippines, the product has by far the largest mobile-wallet customer base in the Philippines and has grown into an indispensable service infrastructure, relied on by millions for daily payments, transfers and other financial transactions. 

In addition to its digital payments and transfers, Mynt, through its other subsidiaries, also provides access to loan services using non-traditional ways to assign customer credit scores to enable access to fair lending. It has also expanded its financial services offerings to provide users access to savings, insurance, and investment products. 

Furthermore, it has built the largest network of online and offline merchants including social sellers with over 6 million partners while hosting over 1,000 merchant partners in its app, via GLife.

With this recent partnership, both MC and AC are committed to boosting Mynt’s corporate value and leveraging other joint initiatives to create new businesses in the Philippines and contribute to its economic development. Those efforts will include continuous business development and cross-sales in C2B area like retail and healthcare, and multifaceted collaborations in mobility, renewable energy, carbon management and elsewhere.

Lastly, with the Mitsubishi UFJ Financial Group (MUFG) having also announced its investment in Mynt this past August, MC and AC shall work with MUFG as fellow shareholders to aid the company’s future growth and development.

Manila, Philippines – Regional omnichannel womenswear brand Love, Bonito is expanding internationally with its first permanent store in Metro Manila, the Philippines. Spanning over 2,000 sqft, the store primely located at the premium Greenbelt 3 Mall and its opening was graced by spokespersons from the Ayala Corporation. 

The announcement comes off the back of the brand’s rebranding and assortment revamp this March, and further hones in on its brand vision to be the go-to destination for Asian women globally.

True to its brand ethos of embracing the realness and rawness of life, Love, Bonito’s new retail store exudes elegance effortlessly with its open ceilings, textured white walls and warm dark woods accents. Beyond its interior design, the store is also created for a smooth and comfortable shopping experience. 

Customers can also look forward to Love, Bonito’s three key lines: the evergreen Signatures and Staples collection, and its summer-appropriate capsule collection. 

Dione Song, chief executive officer at Love, Bonito, said, “We know the malling culture is huge here in the Philippines and we’re excited to finally put down our roots. We have received overwhelming support from the Filipina community, experiencing 90% YoY growth last year solely through online orders. Based on customer data gathered across both digital and physical touchpoints, we’re finally launching our first brick-and-mortar store, with unique elements that cater to the Filipina customer.”

Meanwhile, Rachel Lim, co-founder at Love, Bonito, commented, “After five years of shipping to the Philippines, we’re thrilled to announce the opening of our very first permanent store here. Over the years, we’ve cherished every connection made through events and collaborations and are deeply inspired by the warmth and support of the community. With our upcoming physical store, our Filipina customers can now experience our collections firsthand, join workshops, styling sessions, and be part of our vibrant community events.”

Love, Bonito started out as a digitally native blogshop BonitoChico, on a Livejournal platform selling pre-loved apparels, and officially rebranded to Love, Bonito in 2010. To date, Love, Bonito has over 20 stores internationally, across Singapore, Cambodia, Hong Kong, Indonesia, Malaysia, and the Philippines. 

Most recently, the brand opened its 7th store in Singapore at Tampines 1 shopping mall, and its first rebranded pop-up in Hong Kong’s K11 Art Mall. 

Philippines – Hybrid integrated marketing solutions agency Optimax, a part of the DDB Group Philippines, has been appointed as the new integrated marketing communications (IMC) agency for global brand BYD electric vehicles (EVs) in the Philippines. 

Ayala-led Mobility Access Philippines Ventures, Inc. (MAPVI), the automotive arm of AC Motors and official distributor of BYD cars in the country, handed BYD EVs’ account to Optimax after a series of competitive pitches. 

Antonio ‘Toti’ Zara III, president of MAPVI, expressed his anticipation of collaborating with Optimax to develop the BYD brand and the electric vehicle (EV) sector in the Philippines.

He said, “Our newly formed partnership is a step closer to making more and more Filipinos appreciate the No. 1 selling new-energy vehicles in the world right now. We are excited to work with Optimax’s energetic and young team to introduce BYD cars to Filipinos and make them understand the advantages of new energy, or what is more commonly known as electric vehicles.” 

Also speaking on the partnership, Ela Federigan-Chua, general manager of Optimax, shared, “Handling a global automotive brand like BYD is very exciting for us. It opens up a lot of opportunities to harness our expertise and showcase our creativity with the end in view of achieving the goals MAPVI set out for BYD.” 

Manila, Philippines – Driven by the official entry of Taiwanese tech company, Gogoro, into the Philippine market, Globe Group’s 917Ventures and Philippine conglomerate Ayala Corporation have entered into a tripartite partnership with the former to launch its Gogoro Smartscooters® and battery-swapping technology in the Philippines. 

Gogoro is a company that has transformed two-wheel mobility in Taiwan and fostered a new smart mobility industry with a network of eco-friendly businesses and end-users.

The company is bringing the said ecosystem to the Philippines and is committed to replicating its success in Taiwan. Gogoro is currently managing 540,000 riders and has deployed more than 1 million smart batteries at 12,000 battery-swapping stations.

“We in the Globe Group are very proud to bring Gogoro Smartscooters® and battery-swapping to the Philippines, a transport ecosystem that marries mobility innovation and sustainability,” said Ernest Cu, Globe Group President and CEO. “This year, Filipinos will have access to these electric [two-wheel] vehicles and Gogoro’s convenient and cost-efficient battery-swapping technology, another first in the Philippines.”

In a ceremonial launch at Globe’s headquarters, the three companies have announced that Gogoro’s Smartscooters® and Battery-Swapping tech would be both available publicly by Q4 2023.

Horace Luke, Founder and CEO of Gogoro, commented, “Our partnership with the Globe Group and Ayala Corporation in the Philippines is a major milestone in our mission to transform urban transportation and provide an accessible path for riders to adopt sustainable urban mobility and play a key role in battling climate change and making the world better for all.”

“We look forward to working together to deliver a sustainable transport system that will improve air quality, reduce carbon emissions, and provide a superior riding experience for consumers in the Philippines,” added Luke. 

Globe’s Cu further said that the shift to EVs, particularly deploying Gogoro’s battery-swapping system, will go a long way, alongside sustained government support, to allow private sector initiatives to prosper. 

“Sustainable transportation projects are, after all, aligned with the government’s long-term agenda to promote environment-friendly transport options and foster digitalization as mobility needs of Filipino individuals and businesses rise,” said Cu.

In addition to Taiwan and the Philippines, Gogoro is also operating in China, India, Japan, Indonesia, Korea, and Israel.

Manila, Philippines – Prominent Filipino businessman Fernando Zobel de Ayala has resigned from all business positions under the publicly-listed holding company Ayala Group. The companies that he will be resigning from include Ayala Corporation, Ayala Land, Bank of the Philippine Islands (BPI), and Globe Telecom.

In multiple filings made by all aforementioned companies at the Philippine Stock Exchange (PSE), all stated that Zobel rendered his resignation over medical concerns, and said he will be focusing on his recovery.

Zobel held the following positions at these companies namely the vice-chairman of the board of directors, president and CEO at Ayala Corporation; chairman of the board of directors at Ayala Land and BPI; as well as co-vice chairman of the board of directors at Globe Telecom.

As part of the announcement, Ayala Corporation has appointed Cezar P. Consing as their acting president and CEO for the meantime.

Fernando Zobel de Ayala overtook the president and CEO role from Jaime Augusto Zobel de Ayala in April 2021.

Established in 1834, Ayala Corporation is one of the largest corporations in the Philippines and with a massive portfolio of diverse business interests, including investments in retail, education, real estate, and banking, as well as telecommunications, water infrastructure, renewable energy, and electronics.

Manila, Philippines – Three local healthtech companies–KonsultaMD, HealthNow, and AIDE–will be consolidating their services into one healthtech super-app in a bid to provide more accessible healthcare to Filipinos, led by Globe’s venture company 917Ventures.

The announcement was made in a recent company disclosure made by Globe Capital Venture Holdings to the country’s Securities and Exchange Commission (SEC).

The new super-app will feature KonsultaMD’s teleconsultations, HealthNow’s medicine deliveries, and AIDE’s laboratory tests and home care, and combines a total of 2 million existing user base of these three companies. The super-app is set to go live by the first quarter of 2023.

Vince Yamat, managing director at 917Ventures, said, “This is a very important step for us to further grow KonsultaMD. We have long experienced the challenges and difficulties of healthcare in the Philippines and we intend to address those challenges. Our ambition is to democratise health services, making it as easily available and affordable to every Filipino regardless of where you are in the country.”

Meanwhile, Paolo Borromeo, president and CEO of AC Health, commented, “By combining the strengths of each of the three entities, I am excited to see the new KonsultaMD support AC Health’s vision of an integrated healthcare ecosystem. This combined digital team, supplemented by the network of services from AC Health, allows us all to be in a better position to provide much-needed access to quality healthcare services and medicines across the country, accelerating our goal of touching the lives of 1 in 5 Filipinos by 2030.”

Cholo Tagaysay, who has presided over KonsultaMD the past two years will be the CEO of the consolidated entity. Meanwhile, Beia Latay, who has served as HealthNow CEO over the past two years, will be COO of the new KonsultaMD.

Tagaysay said, “Consultations are at the top of the funnel. Consultations generate prescriptions which in turn generate lab requests. Now, we can fulfil all of these. We are a one-stop-shop for all your health needs.”

Meanwhile, Latay commented, “Our synergy creates a complete and simplified healthcare experience, spanning home, in-clinic and hospital.”

Manila, Philippines – Globe Telecom’s venture builder 917Ventures and Ayala Corporation (AC) Ventures have entered into a new partnership to explore business opportunities, as well as grow their own business ecosystems.

Through the partnership, AC Ventures will participate in funding the research, development, and launch of 917V’s new business ventures. 

The partnership with AC Ventures hopes to further accelerate both the quantity and quality of its future companies as the unique advantages now encompass the broader Ayala group, including real estate, banking, power, healthcare, and logistics.

Vince Yamat, managing director at 917Ventures, said, “We are very excited to work with AC Ventures. We can leverage the ecosystem and network advantage that they provide to solve the pain points of consumers and businesses. Through digital solutions, we can help pave the way and deliver indelible value to the Philippines and the Asia-Pacific region.”

Meanwhile, Alberto de Larrazabal, chief finance officer at Ayala Corporation and president/CEO at AC Ventures, commented, “The accelerated growth of digital adoption has become ingrained in many Filipinos who have quickly transitioned how they work, study, play, and access basic services.”

He added, “Ayala intends to participate in this multi-decade transformation by contributing to the research and development and incubation of disruptive solutions across different consumer touchpoints in our portfolio. With its strong track record of developing startups to achieve scale and profitability, we believe that 917Ventures is the natural vehicle for Ayala’s digital ventures.”

Manila, Philippines – Filipino conglomerate Ayala Corporation has announced key changes in its C-suite leadership , namely Fernando Zobel de Ayala as the new president and CEO, taking over Jaime Augusto Zobel de Ayala, who is now serving as chairman of the board.

Fernando takes over Jaime’s former position as CEO after 26 years of tenure as the head figure of the conglomerate’s operations.

Established in 1834, Ayala Corporation is one of the largest corporations in the Philippines and with a massive portfolio of diverse business interests, including investments in retail, education, real estate, and banking, as well as telecommunications, water infrastructure, renewable energy, and electronics. The conglomerate also has businesses in information technology, automotive, and healthcare, and management and business process outsourcing.

“Since 1995, our market capitalization has expanded more than sixfold; our net income similarly grew more than six times. Since 1995, we rewarded our shareholders with dependable returns that averaged at 15 percent per annum. Over that period, we cumulatively paid ₱118b in dividends to our common shareholders,” Fernando stated.

He added, “As incoming president and CEO, I aim to build on the firm foundation that Jaime established, guided by our core strategy of maintaining leadership and relevance in the markets we serve. To support this, we will place greater emphasis on our portfolio strategy with a sharper focus on optimizing returns from existing businesses, a highly disciplined approach on capital deployment; and explore opportunities for value realization initiatives to fund future investments.”

During Jaime’s tenure as CEO, Ayala Corporation has managed to make massive investments in real estate, banking, telecommunications, energy, water, health, education, and logistics where large societal gaps exposed opportunities to serve a broader, more inclusive set of customers, generate meaningful returns and improve risk-resilience.

Other key leadership changes include Ayala Corporation’s CFO, TG Limcaoco, taking the helm at BPI as president and CEO; upon the retirement of his predecessor, Bong Consing. Bong will continue to be engaged with the Ayala Group as a member of the board of directors of BPI, Ayala Corporation, Globe Telecom and AC Energy Corporation. 

In addition, Albert De Larrazabal, most recently Globe’s chief commercial officer, succeeds Limcaoco as AC’s CFO. Eric Francia, current president and CEO of AC Energy, was appointed to concurrently chair AC’s Investment Committee. 

“We are cautiously optimistic about the business environment and will continue to prepare for a post-pandemic economic recovery. We are hoping for a successful implementation of the country’s vaccination program that would pave the way for a revival of the economy. With a healthy balance sheet and a set of diversified and strong franchises in our portfolio, we are confident that we will come out of this difficult period stronger,” Fernando concluded.