The Aboitiz Group has reiterated its commitment to fully support government’s thrust for infrastructure development in Mindanao
REPUBLIC – A CRH-Aboitiz Company
“The Aboitiz Group is proud to be part of Mindanao’s growth and are committed to the government’s push towards infrastructure development in the island,” said Jaime Jose “Jim” Y. Aboitiz, director, as he welcomed participants to the 2016 Mindanao Media Party held 07 October 2016 at the SM Lanang SMX.
Mr. Aboitiz said 2016 is also shaping up to be a good year for the Aboitiz Group, beginning with AEV’s (Aboitiz Equity Ventures) 34% year-on-year income growth in the first half. AEV is the public holding and management company of the Aboitiz Group of Companies.
Jaime Jose Y. Aboitiz
This lends credence to the group’s two-pronged strategy of organic growth while diversifying income streams from our infrastructure-related businesses, he explained. “Government’s allocation of 5.2% of Gross Domestic Product for purely infrastructure projects bodes well for the group’s infrastructure business.”
“Participating in these developments is high in our priorities, and expect the Republic Cement Group to play a significant role in helping the government build better infrastructure for our growing economy,” he stressed. “Here in Davao, Apo Agua is making headway in its efforts to get the bulk water project off the ground very soon.”
Republic Cement – Iligan Cement Plant
The group is also active in the power industry with AboitizPower already generating a total net sellable generating capacity of 3,350 megawatts (MW) from a mix of renewable and non-renewable power sources.
The 300-MW Therma South baseload plant in Toril, and its latest renewable energy (RE) facility, the 59-MWp Sacasun solar plant in Negros Occidental were both launched this year.
“Once completed, the Manolo Fortich Hydroelectric Power Project in Bukidnon will add 69MW to our Cleanergy portfolio, currently at 1,263MW,” said Mr. Aboitiz, who also sits as executive vice president of Aboitiz Power Corp. (APC). “APC is doubling efforts towards increasing our generating capacity to 4,000 MW by 2020.”
In other infrastructure projects, AboitizLand is launching its maiden land projects in Luzon this year and is now looking to expand in Davao as well, with the growth in the local residential, commercial, business process outsourcing, and retail industries.
“2016 is a banner year for this part of the country and we are glad it is finally getting the attention it deserves,” he said. “ As Finance Secretary Dominguez himself said, now is the best time to bring investments to the next economic Promised Land.”
The group’s service sector affiliates are performing as well.
“UnionBank is staying focused on its FOCUS 2020 roadmap, building a great retail bank with greater efficiency for an increasingly digital economy. We also congratulate the City Savings Bank on its 50th anniversary this year and proudly carrying on the legacy of service to our public school teachers nationwide. The ‘Simple is Good’ banking philosophy of founders Don Ramon Aboitiz and Timo Abellana lives on.”
On June 1, 2015, AEV acquired 51% equity interest in PETNET, Inc., which is engaged in providing money transfer services as a direct agent of Western Union and allowing local businesses to make international payment transactions in over 140 currencies.
“PETNET earlier this year unveiled PERA HUB, its brand reboot that highlights its customer-friendly urgent money transactions for a growing market,” Mr. Aboitiz disclosed.”It serves as a one-stop financial services hub that offers competitive services for Filipinos here and abroad.”
BetterWorld for the Pawikan
Throughout these developments, the group seeks to uphold its Aboitiz BetterWorld sustainability mindset: “We can do well by doing good, in always making the right long-term decisions that balance the interests of people, planet, and profit.”
The executive cited the Aboitiz Cleanergy Park in Davao City as an embodiment of this philosophy.
“We thank all the volunteers from the local government, our communities, and our own Davao Light team members who came to support the recent clean-up drive at the Park. Time and again, Davaoeños set the bar high whenever an opportunity to rally behind a cause comes around.”
He encouraged media friends to support the “#BetterWorld for the Pawikan” conservation campaign to raise awareness and enlist public support for the protection and preservation of the critically endangered Hawksbill sea turtle.
A #WeatherWiser Nation
Mr. Aboitiz also invited the participants to download the free WeatherPhilippines mobile app as the company’s contribution to building a #WeatherWiser nation by promoting risk management and disaster preparedness.
In relation to this he introduced Pilmico’s latest product, The Care Package high-energy biscuits that are tasty and effective emergency provisions containing essential nutrients to boost one person’s energy. Last month, the Aboitiz Group sent over 14,000 of these for distribution in the Batanes relief operations.
AEV’s core businesses, conducted through various subsidiaries and affiliates, are grouped into five main categories: power distribution, generation and retail electricity supply; financial services; food manufacturing; real estate; and infrastructure.
The company also has portfolio investments that include holdings in aviation through AEV Aviation, Inc.; production of biogas through AseaGas Corporation; underwriting of insurable risks of AEV through Archipelago Insurance Pte. Ltd.; and bulk water treatment through Apo Agua Infrastructura, Inc.
The significant subsidiaries of AEV as of December 31, 2015 are Aboitiz Power Corporation, Pilmico Foods Corporation, and Aboitiz Land, Inc.
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