FZA addresses Family Business Network Asia

Transcription

The official publication of the Ayala group of companies Volume 15, Number 5, September-December 2011
inside:
2 Spectacular Spectrum at Ayala Triangle Gardens
6
Ayala posts 7-percent rise in Q3 earnings
12 Zobel-D’Bayan at Ayala Museum
24 Christmas cheer at the Zobel tunnel
The region’s industry leaders
form ASEAN Business Club
JAZA (standing, second
from right) joins some of
the founding members of
the ASEAN Business Club
in welcoming former British
Prime Minister Tony Blair
(seated, left), the guest of
honor at the event.
Key executives from Southeast Asia’s top corporations gathered
in Kuala Lumpur on October 28 to officially launch the ASEAN
Business Club (ABC). Ayala Corporation Chairman Jaime
Augusto Zobel de Ayala was one of the founding members of
the organization.
During the launch, no less than former British Prime Minister Tony Blair
was the guest of honor, and he spoke about the European experience in
regional integration.
continued on p. 5
FZA addresses Family
Business Network Asia
Family Business Network (FBN)
Asia successfully held its 22nd
summit on October 27 to 29
at the Ritz-Carlton Millennia in
Singapore. The event, which
drew over 700 participants,
carried the theme, The Art of
Family Business.
Manila Water is first Filipino company
to win Asian Human Capital Award
Manila Water President
Gerardo Ablaza (right)
receives the Asian Human
Capital Award, which is jointly
given by the Singaporean
Ministry of Manpower, CNBC
Asia-Pacific, and INSEAD
The Manila Water Company received the prestigious Asian Human Capital
Award, at a ceremony held in Singapore in October. The official concessionaire
for water and sanitation services in the east zone of Metro Manila, Manila Water
is the first ever Filipino company to be conferred this prestigious award.
“We are deeply honored for the singular distinction the Asian Human Capital
Award has bestowed on us and for giving us the privilege to share our story
with the rest of the world through this rare honor,” said Manila Water President
and Chief Executive Officer Gerardo Ablaza Jr., who personally accepted
the trophy that had been exclusively created by the renowned Singaporean
sculptor Chua Boon Kee.
Presented by the Singaporean Ministry of Manpower and co-sponsored by
CNBC Asia-Pacific and INSEAD, one of the world’s top business schools, the
Asian Human Capital Award is given to organizations that have successfully
used “innovative and impactful people practices,” particularly with regard to
aligning these practices with business strategies and innovations in developing
and contextualizing human resources to address local needs.
continued on p. 7
‘We can improve profitability while
contributing to society’
—JAZA at Asian CSR Forum
One of the highlights of the
summit was a talk featuring Ayala
Corporation President Fernando
FZA talks about how Ayala has
maintained business leadership
Zobel de Ayala, who spoke about
and relevance over 177 years
“The Discipline of Building a
Successful Family Business: Perspectives from a Seventh Generation
Asian Family Business.”
FZA discussed how over the past 177 years, Ayala has become one of
the most widely diversified business conglomerates in the Philippines.
The evolution of Ayala over seven generations, he said, was the result
continued on p. 5
Performance measures should move beyond the financial
bottom line and begin to reflect a more holistic measure of
our impact on society.
This, said Ayala Corporation Chairman and CEO Jaime Augusto Zobel
de Ayala, was the important next step for the Ayala group as it began
to increasingly align its business objectives more formally with its social
responsibility objectives.
At the Asian Forum on Corporate Social Responsibility held on October 18
to 19 at EDSA Shangri-La Hotel, JAZA spoke about the Ayala experience
continued on p. 4
Ayala group holds annual HR summit
The Ayala Group HR Council held its Annual HR Conference on
November 29 at the Grand Ballroom of the Intercontinental Manila.
Carrying the theme, Building a Customer-Centric Organization, the
conference drew as many as 20 delegates, most of whom were Ayala
group HR professionals, alumni of the Ayala Leadership Acceleration
Program (Ayala LEAP), and other top leaders from within the group.
Ayala Chairman Jaime Augusto Zobel de Ayala keynoted the event.
One of the highlights of this year’s summit was a session with Professor
Rajiv Lal of the Harvard Business School. Speaking via video conference, Lal
discussed the importance of building a customer-centric organization.
Another highlight was the CEO Forum, a regular, in-demand segment of the
annual HR conference because it allows the delegates to listen firsthand
to their CEOs’ points of view. As in the past, this portion of the conference
took the form of a freewheeling conversation, and featured JAZA and Ayala
President Fernando Zobel de Ayala.
After this discussion, HR professionals convened to come up with a plan
of action. This brainstorming activity took place at two levels: from the
company perspective, where the discussion zeroed in on how HR could
help build a more customer-centric organization; and from the functional
network perspective, where the participants explored the various facets of
HR to find points for synergy, which could open up opportunities to become
more customer-centric.
From left: Ayala Land’s Meean Dy, FZA, Antonino Aquino, Former Makati
Mayor Elenita Binay, JZA, Bea Zobel, and JAZA
FZA with his children Sylvia, Katya, and Fernando Alvaro
John Philip Orbeta, head of
Ayala Corporate Resources,
speaks with Harvard Professor
Rajiv Lal via video conference
during the HR Summit
Two important projects were also launched during the conference. First,
Gigi Rapadas of Ayala and Mario Domingo of Globe Telecom introduced
the Ayala Group Social Media Network, which aims to serve as a venue
where Ayala group employees can collaborate, communicate, and
bounce off innovative ideas. Delegates to the summit had the opportunity
to test the social media network.
Also, the Ayala group launched its first street dance competition. Through
this competition, the Ayala group hopes to promote cultural activities, such
as dance and other performing arts. This way, there can be greater employee
engagement in company activities, and untapped skills and talents can
also be harnessed. The street dance competition served as a prelude to the
cheer dance competition, which took place during the Ayala Group Olympics
in 2012. There were six competing teams: Stream Global Services, which
carried the Ayala Corporation banner, Ayala Land, Bank of the Philippine
Islands, Globe, Integrated Micro-Electronics, and Manila Water.
Business, individuals raise over P4 million for
HERO military orphans
Big business and individual donors raised
more than P4 million during a benefit dinner
and pledging session held on October 18.
The benefit dinner was held to help send
to school hundreds of orphans of Filipino
soldiers killed in the line of duty.
FZA and JZA join two beneficiaries of HERO
Foundation’s various initiatives. JZA was one
of the founders of HERO Foundation, while
FZA is its current chairman
Spectacular Spectrum at the
Ayala Triangle Gardens
Christmas is truly in the air at the Ayala
Triangle Gardens, as Ayala Land invites
families and friends to enjoy its annual lightand-sound show.
Developed by lighting designer Voltaire de
Jesus and composers Jazz Nicolas and Mikey
Amistoso, Spectacular Spectrum can be
enjoyed daily, between 6 p.m. to 9 p.m., until
December 30.
Now on its third year, the highly anticipated lightand-sound show was launched on November
16, and was witnessed by crowds of admiring
onlookers. Entitled Spectacular Spectrum, the show
hopes to give viewers a childlike sense of wonder
and delight as they bask in the magical glow of
hundreds of lights.
Aside from the Ayala Triangle, the rest of
the Makati Central Business District is now
adorned with Christmas lights. Makati Mayor
Jun-jun Binay, Ayala Land President Antonino
Aquino, and Makati Commercial Estate
Association (MACEA) President Dave Balangue
led the ceremonial lighting of the main streets
of the MCBD on November 3.
Among the features of the show are inflatable stars
and gobo lights (also known as “go before optic”
lights), energy-saving LED string lights, meteor lights,
and laser lights.
As many as 851,000 LED lights were used to
decorate Ayala Avenue, Makati Avenue, and
Paseo de Roxas.
Christmas Events in Makati
Spectacular Spectrum
A symphony of lights and sounds
Ongoing until December 30
6:00 p.m. to 9:00 p.m.
Different Heroes, Different Voices
Christmas concert featuring Apl.de.Ap
December 7, 7:00 p.m.
Greenbelt 5 Fashion Walk
Thousands of military orphans need educational
support, but HERO has funds for only a little over
700 orphan beneficiaries per year.
Pinky Aquino-Abellada,
one of HERO Foundation’s
trustees
Singer Kuh Ledesma
performs at the fund-raising
event
Brilliant Trees
Tree Ornamentation
by Makati Ad Agencies
December 8, 10 a.m.
2nd Avenue’s Christmas Concerto
A concert featuring The Company and Push Up Brass
December 9, 6:00 p.m.
Thanksgiving Masses
December 15 to 23, 6:00 p.m.
For more information, visit http://facebook.com/makeitmakati
The event, dubbed Saludo and hosted by HERO
(Help Educate and Rear Orphans) Foundation,
was attended by respected leaders of the
business community, led by some members of
the foundation’s board of trustees, which included
Fernando Zobel de Ayala, Gen. Renato de Villa,
Antonino Aquino, Pinky Aquino-Abellada, Michael
Tan, Raul Anthony Concepcion, Sandy PrietoRomualdez, Margie Juico, Jun Bisnar, and Ces
Oreña-Drilon.
HERO Foundation beneficiaries are joined by the
foundation’s officers, including Jun Bisnar, FZA, Pinky
Aquino-Abellada, Ces Oreña-Drilon, Raul Anthony
Concepcion, Antonino Aquino, and Gen. Renato de Villa
“Our soldiers in battle are away from their loved
ones for long stretches of time and adjust to very
difficult living conditions,” said Pinky AquinoAbellada. “Let us make our soldiers know and
feel that we truly, truly care. Join us as we work
to ensure that the children they may leave behind
will still be given the chance to achieve their
dreams. Let us be heroes to the children of our
heroes.”
HERO Foundation was founded in 1988 by the
late President Corazon Aquino, together with
Jaime Zobel de Ayala and Gen. Renato de Villa.
It has provided more than P98 million for 2,156
military orphans since 1988, to ensure that qualified
scholars receive a yearly stipend to augment
the government’s mandated tuition support and
scholarships given by various schools.
The bulk of HERO scholars come from
Mindanao (41 percent) and Luzon (33 percent).
Visayas residents make up 18 percent of the
total number of scholars, while eight percent
come from the National Capital Region.
At present, more than 6,000 military orphans
still need educational support as hundreds of
Filipino soldiers are killed annually in battle.
The foundation needs P126,000 to support
each HERO scholar from elementary to college
or provide an annual endowment of P5,000
for elementary, P8,000 for high school, and
P16,000 for college.
The fund-raiser was held at the Hotel
InterContinental Manila with more than
300 guests from the business community
responding to the call to aid military orphans.
Ces Drilon hosted the event and spoke about
her own experience after being orphaned
by a military father. The show also featured
performances by the country’s top talents,
including Kyla, Isabella, John Lesaca, Bea
Tantoco, Sheila Valderama, Gian Magdanagal,
Aj Tabaldo, Vince Bueno, and Kuh Ledesma,
who gave their services for free in honor of our
fighting Filipino heroes.
For more information about HERO Foundation,
please visit www.herofoundation.com.ph
Ayala supports WWF Philippine Fund for Nature
Ayala Corporation Chairman Emeritus
Jaime Zobel de Ayala and Chief Executive
Officer Jaime Augusto Zobel de Ayala
presented the Ayala group’s contribution
of P5 million to the Philippine Fund for
Nature, an endowment fund established
and managed by World Wide Fund for
Nature–Philippines (WWF), to help ensure
the vigor and continuity of its projects for
the environment.
The World Wide Fund for Nature Philippines
acknowledges the support of the Ayala group
of companies, represented by Ayala Chairman
Emeritus Jaime Zobel de Ayala
continued from p. 1
in creating shared value and in re-examining
the ways by which the conglomerate
measured success. About 500 senior
executives and CSR officers from companies
across the globe attended the two-day
conference, which returned to the Philippines
to celebrate its 10th year after being held in six
major Southeast Asian cities.
“Traditional financial measures put an
inordinate focus on end output,” said JAZA.
“That is important, but these measures do
not reflect the way output is produced or
generated, nor do they seem to take into
account their impact on all the broader aspects
of quality of life, the state of the environment,
or the welfare of the many stakeholders we
interact with.”
The realization, according to JAZA, has led
the conglomerate to adopt a triple-bottomline approach to measuring corporate
performance, made concrete in a groupwide
sustainability report prepared using the Global
Reporting Initiative (GRI) framework. For 2010,
the Ayala group reported on 30 of 76 key
indicators in the economic, environmental,
and social performance areas. This is in
addition to individual and more comprehensive
discussions of the sustainability agenda and
performance at the subsidiary level.
JAZA is a member of the APEC Business
Advisory Council, which is behind the recent
APIP Dialogue
JZA says at the WWF event: “The
beauty of working with WWF is the
spirit of collaboration among different
sectors with a common vision to
achieve sustainable development for
the country.”
WWF Philippines has been working as a
national organization of the network for 15
years. It focuses strongly on the conservation
of marine species and habitats, and
spearheads practical solutions to balance
‘We can improve profitability while contributing to
society’ —JAZA at Asian CSR Forum
Moreover, as CSR programs improved, Ayala
companies continued to explore product and
service innovations that met the needs of
underserved sectors of Philippine society. In
the process, new business opportunities—
such as BPI Globe BanKo and Ayala Land’s
Avida and Amaia brands—emerged by
reaching out to overseas Filipinos, groups at
the base of the economic pyramid, as well as
micro-entrepreneurs.
“We now increasingly define our business
models, actions, and investments in ways
that create ‘shared value’ among all our
stakeholders and communities,” said JAZA.
And while the Ayala group takes pride in
its efforts to measure and benchmark its
performance against global standards, JAZA
admitted that there remains more to be
done to ensure that a culture of sustainable
development is deeply embedded in the
corporate DNA.
“We will continue to explore ways by which
we can truly say that we as a group have
transformed our companies into business
models that achieve the triple bottom line,”
said JAZA.
Purisima, Trade and Industry Secretary Gregory
Domingo, Transportation Undersecretary Rene
Limcaoco, and PPP Center Executive Director
Cosette Canilao.
The APIP mission, headed by Mark Johnson of
Gresham Partners Limited (of Australia) included
members from APEC economies Japan, Australia,
United States, Malaysia, Thailand, Mexico, and Chile
as well as representatives from the World Bank and
Asian Development Bank.
The Ayala companies involved—Ayala
Corporation, Ayala Land, Bank of the Philippine
Islands, and Globe Telecom—have long
supported WWF, while also implementing their
own environmental initiatives as part of the
group’s sustainability agenda.
The Philippine Fund for Nature, which aims to
raise P200 million for WWF’s environmental
programs, was launched at a benefit dinner
on November 10 at the Manila Polo Club. This
year, WWF celebrates its 50th anniversary, as
well as its 15th year in the Philippines.
Nabbie Alejo (center), BPI senior vice
president for consumer banking, receives an
award on behalf of BPI, for the company’s
continued support WWF Philippines’ various
programs
biodiveristy conservation and the impact
of human footprint on our environment.
The organization works with government,
the business sector, and communities
in programs that promote sustainable
development solutions all over the
country.
APEC Business Advisory Council organizes dialogue
on public-private partnerships
Jaime Augusto Zobel de Ayala of
Ayala Corporation, Doris MagsaysayHo of Magsaysay Shipping, and
Tony Tan Caktiong of Jollibee Foods
recently hosted in Manila the AsiaPacific Infrastructure Partnership
(APIP) Dialogue, which discussed the
importance of public-private partnerships
(PPP). JAZA, Magsaysay-Ho, and Tan
Caktiong are all on the APEC Business
Advisory Council (ABAC), which
organized the discussion as the private
sector’s counterpart to the Asia-Pacific
Economic Council (APEC) Summit.
Among the resource persons for the APIP
Dialogue were Finance Secretary Cesar
Ayala Land’s Ysmael named
CFO of the year
In a free wheeling discussion with Cabinet members
as well as separate meetings with the Makati Business
Club and members of the National Competitiveness
Council, the APIP forum discussed the many facets
of PPP, as well as its various components, such as
project selection and financial structures, the use
of Official Development Assistance, private equity,
debt, and the establishment of workable risk–reward
equations for projects.
While the participants agreed that it was best to
structure projects properly before rushing toward
implementation, it was generally recognized that there
was a limited window of opportunity for the Philippines
to get projects, so it could gain momentum in the
marketplace among investors, especially considering
current economic conditions in the United States and
Europe. The Philippines is recognized as a pioneer
in PPP and BOT (build, operate, transfer) projects,
dating back to the highly successful privatization of
the Manila Water Company in 1997, as well as the
government’s power projects in the 1990s.
The region’s industry leaders form
ASEAN Business Club
continued from p. 1
ALI’s CFO Jaime Ysmael
Ayala Land Inc.’s (ALI) Chief Finance Officer
Jaime E. Ysmael was named CFO of the Year
in the annual quest for the “consummate
CFO” organized by the Finance Executives
Institute of the Philippines (FINEX) and ING
Bank N.V. (ING).
He was cited for his valuable role in maximizing
profitability and value creation for Ayala Land,
as well as for his contributions as a financial
strategist in tapping opportunities and minimizing
risks in the midst of an ever-changing business
landscape.
The FINEX-ING CFO of the Year award marks
a major milestone in Ysmael’s 30 years in the
practice of business and finance management.
He is the third Ayala group CFO to win the award,
after Delfin Gonzalez Jr., who won for Globe, and
Sherisa Nuesa, who won for Manila Water.
President Noynoy Aquino congratulates the APEC
Business Advisory Council, which includes JAZA,
Tony Tan Caktiong, and Doris Magsaysay-Ho
Finance Secretary Cesar
Purisima
Mark Johnson, chairman
of the APIP private sector
panel
FZA addresses Family Business Network Asia
continued from p. 1
of a clear vision and an “enduring set of values,” which include a
strong entrepreneurial spirit, integrity, and commitment to national
development.
Some of the founding
members of the ASEAN
Business Club join
hands to signify their
commitment to helping
the region achieve greater
growth and development
ABC is an initiative of the region’s leading business organizations to support
economic integration and community building. A private-sector-driven initiative
to support the efforts of ASEAN governments to bring down economic
barriers, ABC aims to grow regional networks, serve as a forum of knowledgesharing and advocacy, and become a powerful platform for ASEAN’s
businesses to engage with global and regional leaders.
It is the brainchild of Dato’ Sri Nazir Razak, group chief executive of the
CIMB Group of Malaysia. Other founding members are Cezar Consing of the
Rohatyn Group (Philippines); Dato’ Sri Tony Fernandes, group CEO of AirAsia
(Malaysia); Chairul Tanjung, chairman of Para Group (Indonesia); Patrick
Walujo, CEO of Northstar Pacific (Indonesia); Simon Cheong, founder of SC
Global Developments (Singapore); Chew Gek Khim, executive chairman of
The Straits Trading Company (Singapore); Chartsiri Sophonpanich, president
of Bangkok Bank (Thailand); and Tos Chirathivat, CEO of Central Retail
Corporation (Thailand).
For more information, visit http://aseanbusinessclub.org
Ayala, he added, takes a “professional, independent, and
disciplined approach to running its businesses” while ensuring its
competitiveness and relevance. This, FZA explained, “has been
achieved while maintaining the unity and support of family members
and ensuring their orderly leadership succession over many
generations,” and has allowed Ayala to withstand major political and
economic changes.
The Family Business Network is an international not-for-profit network
of family businesses.
For more information about the Family Business Network, visit http://
www.fbn-i.org
Ayala posts 7-percent rise in Q3 earnings
Ayala Corporation reported a P7.3 billion net income for the first three quarters
of the year, seven percent higher than earnings in the same period last year.
The growth was primarily driven by its property business and the sustained
momentum of its banking and telecom businesses. Equity earnings from these
core units increased by nine percent. This was, however, tempered by lower
equity earnings from the electronics, business process outsourcing, and auto
businesses and put total equity earnings during the period to P9.2 billion, up eight
percent year-on-year. Ayala ended the period with a healthy cash level of
P26 billion and net debt of P23 billion, keeping net debt to equity at 22 percent.
Ayala continues to pursue initiatives in the power and transport infrastructure
sectors. Recently, its joint venture company under South Luzon Thermal Energy
Corp. (SLTEC) announced that it was able to obtain a P9 billion project finance
loan for the construction and operation of its 135-MW thermal plant in Calaca,
Batangas. Ayala was also prequalified by the Department of Public Works and
Highways (DPWH) to bid for the Daang Hari–South Luzon Expressway Link Road
Project. The project will involve a 26-year operations and maintenance concession
period. The submission of bids and award of the project is scheduled at the end
of 2011.
Real Estate
Ayala Land’s net income surged by 33 percent to a nine-month high of P2 billion
on the back of strong revenue growth across key business lines. Revenues
from residential property development grew by 27 percent as a result of steady
project completion and strong bookings. Ayala Land’s aggressive expansion
saw residential unit launches reaching 10,045 at the end of the first nine months,
with an estimated value of P34 billion and nearly equivalent to full year launches
in 2010. Its revenues from shopping centers grew steadily by six percent, while
office building revenues rose by 20 percent as occupied gross leasable area
(GLA) and leased-out rate in its BPO portfolio improved significantly. Higher
revenues combined with further improvement in operating efficiency and effective
management of costs translated to an improvement in overall margins. Operating
income improved by around 30 percent compared to the same period last year.
Banking
The Bank of the Philippine Islands’ nine-month net income reached P9.6 billion,
up six percent year-on-year. Total revenues were seven-percent higher than the
same period last year, driven by a nine-percent increase in net interest income.
Net interest income growth was boosted by a P67 billion increase in average
asset base, while net interest margins remained stable. Loan growth was healthy
at 22 percent year-on-year. Growth was broad-based across all market segments
with top-tier corporate, middle market, SMEs, and consumer loans posting
double-digit expansions. Despite the strong loan growth, asset quality remains
better than industry as 30-day nonperforming loan ratio improved further to
2.3 percent. In the meantime, non-interest income was just slightly ahead of the
previous year as securities trading gain fell short by P809 million from last year
as expected. This was, however, more than compensated for by higher fees and
commissions, income from insurance operations, and other operating income.
The bank’s total intermediated funds increased by 20 percent to P1.3 trillion,
coming mainly from a 44-percent growth in assets under management. Return on
equity reached 15.5 percent.
Telecom
Globe Telecom continued its strong momentum and reported nine-month net
income of nearly P8 billion, seven percent higher year-on-year. The company
delivered record service revenues in the third quarter, which put nine-month
consolidated service revenues at nearly P50 billion, nine percent higher than the
same period last year. This was driven by the continued rise in domestic voice,
SMS, mobile data services, and the growth in internet browsing activity. Globe’s
mobile service subscribers grew by as much as 15 percent to 29.1 million, while
broadband service subscribers surged by 36 percent to 1.4 million. The strong
take-up for the company’s customizable postpaid plans, innovative all-network
offers, and unlimited voice and SMS promos were key contributors to the
company’s strong performance. EBITDA margins were maintained at 54 percent
as strong revenue growth cushioned the impact of higher operating expenses.
Network-related expenses also rose to support an expanded mobile and
broadband network. Excluding foreign exchange and mark-to-market gains and
losses, Globe’s core net income increased by 15 percent from last year’s P7.1
billion to P8.2 billion this period.
Manila Water: Transforming into a
world-class company through its people
Manila Water’s faith in its human
capital has contributed significantly
to making it one of the biggest
success stories in the history of
public-private partnerships
More than just a mascot, Pat
Tubig is also a symbol of Manila
Water’s commitment to serving
the east zone of Metro Manila,
and even beyond
Water
Ayala’s water business generated total operating revenues of P8.9 billion, a
seven-percent increase on the back of the approved adjustments in tariff for the
year in the east zone of Metro Manila, and a 19-percent growth in revenues from
its new businesses. Manila Water’s core net income increased by 13 percent to
P3.3 billion, while net income rose by five percent to P3.1 billion, which includes
the mark-to-market loss on its P4 billion bond. Billed volume in the east zone
grew marginally during the period due to the residual effect of the prolonged rainy
weather and ongoing water conservation measures. However, this was partly
mitigated by additional sales from new service connections in its concession
area. The number of service connections in platform and expansion areas in the
concession zone increased by four percent, with over 30,000 new connections.
In the meantime, billed volume in its new concessions in Laguna and Boracay,
posted 18 percent and 20 percent growth, respectively, and also added new
connections. These will be catalysts for increased volume sales, alongside its
continued expansion in new areas across the country. In addition, Manila Water
recently announced it signed a sale and purchase agreement to acquire 100
percent of Clark Water Corporation, which is the concessionaire for the Clark
Freeport Economic Zone.
Auto
Ayala’s automotive dealerships were affected by supply problems in the aftermath
of the calamities in Japan last March. As a result, revenues declined by 20 percent
to P7.2 billion, primarily due to lower vehicle sales. Net income slowed to
P76 million, 69 percent below earnings posted during the same period last
year. The Ayala dealerships, however, continued to lead both Isuzu and Honda
networks, given its 32 percent and 47 percent market share, respectively.
Recent flooding in Thailand where Honda units are assembled will create supply
disruptions in many Asian markets.
Electronics
Integrated Micro-Electronics Inc. (IMI) generated year-to-date sales of
US$420 million, 43-percent higher than last year, inclusive of the impact of
its recent acquisitions. Its China business grew by 16 percent, mainly driven
by increased turnkey business from major customers. IMI’s revenues from its
Philippine operations increased by nine percent versus the same period last year.
Meanwhile, sales from IMI Europe reached US$25.7 million, covering the months
of August and September. Year-to-date net income was US$1.6 million which
includes US$2.3 million in forex gain and other income. Net income level was
67 percent lower than last year as a result of higher direct labor and materials
cost.
Following are excerpts from the Manila Water Company’s entry to this year’s Asian
Human Capital Awards.
The development of the Manila Water Company’s human capital did not
happen overnight. In fact, it has undergone a process of evolution that could
only successfully happen under strong collaboration between management
and its workforce, and with no small amount of good business foresight, a
comprehensive and systematic approach to human capital development,
as well as the resolve to invest continuously in the welfare, advancement,
and self-realization of its employees. Over time, Manila Water has become
a shining example of a successful public-private sector partnership, which
has become instrumental in improving lives, building communities, and
contributing to nation building.
In 1997, Manila Water absorbed over 2,000 employees of the Metropolitan
Waterworks and Sewerage System, proving that the company had faith in the
employees of the government sector. The company believed that it was the old
system that prevented them from performing to the best of their abilities, and that
all that was needed was to provide them an environment conducive to productivity
and maximizing their potential. By implementing programs that provided them the
impetus to perform better, Manila Water was able to transform not only the people
but also the entire business, focusing on the company’s customers through the
collective efforts of its improved, empowered human resources.
The company’s operations were decentralized and processes were reengineered
through various management initiatives. At the forefront of these efforts, of
course, were the human resource programs that developed the company’s
people and opened communication lines that, in turn, laid the foundation for their
empowerment. Manila Water’s productive and empowered human resources,
combined with customer-focused programs, efficient business operations, and
steady financial stewardship all contributed to the success of the company.
The company also harnessed its people through a sustainable development
framework, which has allowed the company to partner with the communities it
serves, in the process fulfilling its social commitments. This, however, became
only possible after these employees had been developed to the fullest and
had been made the accelerators of change, as well as business drivers
through the development and implementation of human resource programs
designed for that purpose.
Business Process Outsourcing
It is worthy to note that employees are part-owners of the company. In 1998, an
employee stock option plan (ESOP) was implemented, allowing the employees
to become shareholders of the company. Since then, the value of the stocks has
risen more than 18-fold. For example, Manila Water’s low-ranking employees in
1998 received 40,000 shares valued at P1 per share (there was no payment on
the part of the employee, only a requirement of a five-year holding period). Today,
it is above P18 per share, equivalent to more than P720,000.
The investee companies of LiveIt achieved healthy revenue and EBITDA growth.
Combined revenues were US$736 million for year-to-date September, 12 percent
higher than last year, due to the growth of client volumes across all investees.
Greater scale and cost efficiencies resulted in LiveIt’s share of EBITDA rising by
42 percent to US$16 million, and operating net income reaching US$0.4 million
during the period. LiveIt however reported a net loss of US$19 million after taking
into account financing and non-operating expenses.
Manila Water has also set up a school for managers, so they could become water
system leaders (WSLs), managers who can run the business and at the same
time be excellent leaders of men. Its rank-and-file employees, in addition, have
become analysts and knowledge workers to gradually move away from the heavy
demands of physical work. Of course, the company’s compensation program,
which is anchored on meritocracy, makes sure that the remuneration package is
aligned with these developments.
On top of these employee programs are various recognition programs.
These recognition programs cover employees from all levels—making Manila
Water one of the few companies that have a comprehensive list of awards
programs. These include the Chairman’s Circle Award for senior managers, the
President’s Pride due to Performance for middle managers, and the Huwarang
Manggagawa (Model Employee) for the rank-and-file.
It is also not surprising that Manila Water, as a business, has been highly
successful and has, in fact, become the benchmark when talking about
successful public-private partnership models in the world. From the standpoint
of key performance indicators (KPIs), Manila Water successfully reduced
systems losses from 63 percent upon takeover in 1997 to less than 11 percent
by the end of 2010. This has thus allowed the company to expand its 24-hour
service coverage from 26 percent in 1997 to 99 percent by 2010, while almost
quadrupling actual households served from 325,000 in 1997 to almost 1.2
million in 2010. Billed volume, meanwhile, also increased 2.5 times from 440
million liters per day (MLD) in 1997 to over 1,111 MLD in 2010.
In terms of finances, Manila Water also successfully turned around its
operations, earning a net income of P2.97 billion as of the third quarter of 2010,
which was a long way from the P67 million net loss it incurred in 1997 when
Ayala took over the east zone concession. Revenues also rose from P7.03
billion to P8.33 billion year on year in 2010. Over the period 1997–2009, Manila
Water spent P33 billion to rehabilitate over 900 kilometers of key primary and
secondary mains and to lay more than 3,200 kilometers of new pipelines while
expanding the capacity of its pumping stations. It also achieved significant
progress in expanding its sewerage and sanitation services, successfully
constructing 33 sewage treatment plants, which can process up to 100 million
liters of wastewater per day. These investments contributed significantly to
the company’s robust operational achievements that substantially improved
its services at a price lower than what its customers would have paid had the
MWSS not been privatized.
Because of the company’s efforts, there’s no escaping the fact that Manila
Water now provides world-class water and wastewater services, because
it made the correct choice in focusing on its people when it assumed the
daunting task of serving Metro Manila’s east zone. That choice, without a doubt,
has resulted in a significant improvement in the lives of more than 6.1 million
people, a number that will continue to grow and provide further proof that
investing in human capital is the best way to go in any type of human endeavor.
Manila Water is the first Filipino
company to win Asian Human
Capital Award
continued from p. 1
Each of the nominees underwent rigorous screening, which involved meticulous
research on the organization’s operations, as well as on-site inspections. In passing
the screening with flying colors, Manila Water now joins the ranks of some top-notch
companies in the region, including Procter and Gamble, Ritz Carlton Singapore,
and Accenture Services India.
Said Ablaza: “By believing in our people’s innate talents while complementing this
with the proper training, support, and rewards, Manila Water was able to transform
not only its people but also the entire business. It is a partnership and a compact
that have become instrumental in improving lives, building communities, and
contributing to nation building.”
The Asian Human Capital Award is the latest in a long line of awards and
recognitions that Manila Water and its people have earned over the past several
years. In 2006, the company was named Outstanding Employer of the Year
by the People Management Association of the Philippines. Manila Water also
earned the 2010 Hall of Fame Award from the Department of Trade and Industry
for its programs on labor and management cooperation, quality and productivity
improvement, and family welfare and community relations. It also remains the
only Filipino company to be cited eight times for The Outstanding Workers of the
Republic or TOWER Awardees over the past decade.
Manila Water inaugurates world-class water, wastewater testing facility
Globe, BlackBerry event gives back ‘One Hundredfold’
Globe Telecom, together with BlackBerry, paid tribute
to the spirit of giving with a special dinner, entitled
One Hundredfold, held at the Makati Shangri-La.
Hosted by Globe Chairman Jaime Augusto Zobel
de Ayala, the occasion was dedicated to various
companies that greatly supported Children’s Hour
and The Mind Museum.
FZA notes that the new laboratory ultimately benefits Manila
Water’s customers by ensuring water quality
Customers of the Manila Water Company
living in eastern Metro Manila and nearby Rizal
province stand to benefit from the company’s
newly inaugurated laboratory facility in Balara,
Quezon City. The facility, which is equipped to
analyze water and wastewater samples, meets
global standards, and is at a par with similar
established laboratories in the world.
The laboratory recently gained its ISO 9001,
ISO 14001, OHSAS 18001 certifications and
has continuously maintained its ISO 17025
and Department of Health accreditation as a
testing facility. It has also been recognized by
the Department of Environment and Natural
Resources for complying with the government
agency’s standards.
Said Manila Water Chairman Fernando Zobel
de Ayala, who attended the opening of the
facility on October 17: “The construction of the
new laboratory is a significant initiative of Manila
Water in strengthening its status as world-class
water and wastewater service provider. This new
facility, coupled with the company’s excellent
technical personnel, ensures that customers will
truly reap greater benefits.”
FZA, MWC CFO Chito Oreta, LLDA General
Manager Neric Acosta, MWC Group Director for
Operations Ding Carpio, MWC President Gerry
Ablaza, and DOH USec. Gerardo Bayugo tour the
new MWC laboratory
Manila Water became a private concessionaire
of the state-owned Metropolitan Waterworks
and Sewerage System in 1997, and currently
provides water and wastewater services for
more than 6.1 million people in the east zone of
Metro Manila, covering parts of Quezon City and
Manila, Makati, Pasig, Marikina, Mandaluyong,
San Juan, and Pateros as well as several towns
of the province of Rizal.
The laboratory analyzes daily samples taken from
865 water sampling points to help ensure that
east zone customers are continuously supplied
with clean water. Manila Water’s output is rated
100 percent based on the physical, chemical,
and bacteriological standards of the Philippine
National Standards for Drinking Water. The
company is also a member of the Metro Manila
Drinking Water Quality Monitoring Committee
and Rizal Drinking Water Quality Monitoring
Committee headed by the Department of Health,
which also regularly conducts sampling.
With the upgraded facility, customers are further
assured that water coming from the supply lines
of Manila Water are of high quality.
A member of the laboratory team tests a water
sample in the Physical Chemisty (PhysChem) Room
The new laboratory now has two floors with bigger
isolation rooms for testing and analyzing water and
wastewater samples, as well as separate storage
for chemicals and supplies.
Manila Water also recently acquired six refrigerated
vans that gather samples from as far as Rodriguez,
Rizal, in the north and Jala-Jala, Rizal, in the south.
These refrigerated vehicles now guarantee the
integrity of the samples from the point where it is
taken up to the time it reaches the laboratory and
tested. New equipment were also acquired, which
include a spectrophotometer, incubators, ovens,
water baths, sterilizers, analytic balances, fume
hoods, and bio-safety cabinets.
The inauguration of the laboratory was also
attended by MWSS Administrator Gerry Esquivel,
Laguna Lake Development Authority General
Manager Neric Acosta, DOH Undersecretary
Gerardo Bayugo, Department of Interior and Local
Government Director Renato Brion, Manila Water
President and CEO Gerardo Ablaza Jr., as well as
other officers from DOH, DENR, LLDA, and Manila
Water.
The event was attended by 100 of the country’s
most prominent personalities from the business
sector. Globe extended its heartfelt gratitude by
surprising each guest with a new BlackBerry Bold
9900 as a token of appreciation for their generosity.
Said JAZA: “Tonight, we honor you, one hundred
of you, and your generous spirit—whether your
contributions were monetary, gifts of your time
and skill, or help in spreading the word about
these two causes and getting more supporters.
Let this thanksgiving dinner nourish you just like
your acts have fed the souls of Filipino youth
thirsting for knowledge and opportunities to learn.
Your benevolence is a blessing to Children’s Hour
and The Mind Museum and all the children, their
families, and communities whose lives have been
given the gifts of hope, health, and promise.”
Davila, David Celdran, Vicki and Cristalle Belo,
Chris and Nanette Po, Citibank’s Sanjiv Vohra, and
HSBC’s Tony Cripps.
Hosted by Grace Lee of Magic 89.9, guests were
treated to music by the Real Groove Band as well
as a performance by The San Juan Nepomuceno
Glee Club.
Distinguished by its iconic design, lustrous exterior
with a brushed stainless steel frame and highgloss glass-weave backplate, the new BlackBerry
Bold 9900 stands out as the thinnest BlackBerry
smartphone yet (10.5 mm). It is the first to offer
the perfect union of a high performance keyboard
and touch display. Powered by the new BlackBerry
7 OS and Liquid Graphics technology, it delivers
enhanced browsing capability, voice-activated
universal search, support for augmented reality and
NFC, as well as additional premium personal and
productivity apps.
Handing out the new phones were the children
from Children’s Hour’s future school beneficiary
San Juan Nepomuceno in Malibay, Pasay City.
Aside from JAZA, also leading the event were
Globe President Ernest Cu and Research In Motion
Vice President for South Asia Hastings Singh.
Among the distinguished guests in attendance
were Willie Soong of Jaguar with wife Maureen,
Felix Ang and Gregorio Yu of CATS Motors, Peter
Coyiuto and Robert Coyiuto Jr. of PGA Cars, Karen
BPI Foundation, FHL deliver Herencia Lectures in Cebu
FHL deputy director
Suzanne Yupangco
and BPI Foundation
executive director Randy
Maranan give copies
of the Teachers’ Guide
to participants of the
Herencia Lectures
About 40 teachers of Makabayan in public
elementary and high schools in Cebu
participated in a two-day workshop on
Philippine art on October 27 and 28 held at
the recently inaugurated BPI Cebu Museum.
The Herencia Lectures, organized by
the Bank of the Philippine Islands (BPI)
Foundation and the Filipinas Heritage
Library in cooperation with the Department
of Education, aims to address the lack of art
education projects and training programs
for teachers of art in the country. The
lecture series is based on the bank’s coffeetable book, Herencia: A Legacy of Art and
Progress, which contains in-depth reviews of
nearly 1,000 important works of art acquired
by BPI since the 1970s.
“We’re doing this as part of our advocacy in
education, focusing on the teachers, because
we believe they bring out the best in the students
and future leaders of the country,” explained BPI
Foundation Executive Director Randy Maranan,
who welcomed the Cebu teachers to the program.
“Looking at art provides us with a sense of cultural
connection.”
Added FHL deputy director Suzanne Yupangco:
“With these lectures we hope you go home with
the knowledge that we have a lot to be proud of
as Filipinos, and we hope that you will be able to
inculcate that in your students.”
The Cebu program was the second in a series
of lectures that are part of the bank’s 160th
anniversary celebrations. The Herencia Lectures,
first held in May for Makati City public school
teachers, tackle the history of Philippine art from
the colonial to contemporary times.
Discussions on art appreciation, the practice of art,
and the concept of art patronage were facilitated
by renowned artists Brenda Fajardo, Cid Reyes,
and Don Salubayba. The program culminated in
a workshop on creating art-oriented lesson plans
and classroom activities led by art educator Ma.
Lourdes Nazareno-Roque.
BPI’s earliest art-related venture was the design of
the Philippines’ first bank note, known as the pesos
fuertes, issued in 1852.
The book Herencia explores the BPI art collection,
which represents nearly all periods, styles, and
genres significant to Philippine visual art history.
The works of National Artists Fernando Amorsolo,
Jose Joya, Cesar Legaspi, and H. R. Ocampo are
featured, as are modern artists Macario Vitalis,
Dominador Castaneda, and Victorio Edades. The
book is the first collaboration of art and literary
giants Dr. Jaime Laya, former governor of the
Central Bank of the Philippines; University of the
Philippines professors Alice Guillermo and Ma.
Victoria Herrera; Cid Reyes; and Ramon N. Villegas,
who conceived and edited the book, which was
published in 2008.
BPI, DBP cofinance P229 million loan
for Tarlac City Water District
The Bank of the Philippine Islands (BPI), Development Bank
of the Philippines (DBP), Tarlac City Water District (TCWD),
and LGU Guarantee Corporation recently signed a loan and
guarantee agreement worth P229 million to finance TCWD’s
efforts to improve its services.
The formal signing of the agreement was held at the main office
of the DBP on September 5. BPI’s participation in the project
was part of its commitment to the Philippine Water Revolving
Fund (PWRF) program, a consortium which includes the United
States Agency for International Development (USAID), Japan
International Cooperation Agency (JICA), DBP, and LGUGC. The
loan is BPI’s second under the PWRF.
Established in 1974, TCWD’s existing service area covers
29 barangays, equivalent to around 38 percent of the entire city’s
requirement.
At present, the TCWD maintains over 21,000 water connections.
Its ongoing expansion program aims to bring potable water to
11 more barangays. This translates to a 15-percent incremental
market expansion.
Cid Reyes
Cebu teachers at the
Herencia lectures
Globe Telecom thanks 100 supporters of
Children’s Hour and The Mind Museum
with the gift of a Blackberry Bold 9900,
courtesy of Research in Motion. In photo
are (from left) Globe President Ernest
Cu, Research in Motion Vice President
Hastings Singh, JAZA, and FZA
Blackberry 9900
Children from the San Juan
Nepomuceno Glee Club sing for the
guests at One Hundredfold
Ayala Land, Korean companies partner
for Laguindingan Airport project
The signing is witnessed by
executives from the three
companies led by (seated, from
left) Jose Emmanuel Jalandoni,
vice president and group head of
ALI Capital and Hotels; Antonino
Aquino, ALI president and CEO; His
Excellency Lee Hye Min, Korean
Ambassador to the Philippines;
Sung Si Chul, CEO and president
of KAC; and Kim Chang Soo, senior
executive vice president of
Samsung C&T
Ayala Land Inc. (ALI) recently signed a partnership memorandum of
understanding with Korean Airports Corporation (KAC) and Samsung
C&T Corporation in line with its plan to pursue the bid for the privatization
of the operations and maintenance of the Laguindingan Airport in
Misamis Oriental.
KAC is a leading airport construction and operations company, which manages
14 airports, both domestic and international, in South Korea. Samsung C&T,
on the other hand, is one of the most recognizable Korean companies, with
interests in infrastructure, energy and natural resources, and industrial materials.
The Laguindingan Airport is located approximately 30 kilometers northwest
of Cagayan de Oro City, and is designed to serve as the gateway to northern
Mindanao. The Department of Transportation and Communication (DOTC) is
currently constructing the facility and expects the completion of the airport by
the end of 2012.
10
Ayala Land unveils BellaVita, its first social enterprise community
Economist report cites Ayala for its strategic philanthropy
Something’s gotta give
The state of philanthropy in Asia
A report from the
Economist Intelligence Unit
state of philanthropic giving in the following Asian
territories: China, Hong Kong, Indonesia, Singapore,
and the Philippines.
For the Philippines, Jaime Augusto Zobel de Ayala,
chairman of Ayala Corporation and co–vice chairman
of Ayala Foundation, served as the resource speaker.
According to the report, the example of the Ayala
group exemplifies the idea of “doing well by doing
good”—a clear move from merely giving financial
assistance to a worthy cause, to creating “scalable,
market-oriented solutions,” to improving the quality of
life in the country.
South Maya Ventures Inc., a subsidiary of Ayala Land Inc., is
breaking new ground with the country’s first social enterprise
community development that will address the housing needs
of Filipino families today—BellaVita.
“BellaVita is making it possible for its market to experience the
pride of owning a home,” said Antonino Aquino, president of
Ayala Land. “This project offers minimum wage earners and
members of the informal business sector a chance to own
housing units through very affordable monthly amortizations
ranging from P2,500 to P2,800.”
The first BellaVita project—a 21-hectare, 1,378-unit
development—will soon rise in General Trias, Cavite. It will also
provide its future residents a unique opportunity to grow their
business through the integration of its “MallEngke” concept—a
1.1-hectare strip of commercial establishments that budding
BPI provides banking services
to the Australian embassy
entrepreneurs and small-scale business owners can readily take
advantage of.
The aesthetics of BellaVita units will be anchored on two housing
concepts: duplex units for units priced at P650,000 and quadruplex
and multipod units for those with a price ceiling of P400,000.
“BellaVita will also embody Ayala Land’s thrust toward sustainable
living,” added Aquino. “Aside from pioneering the MallEngke
concept, we also made sure that future residents would enjoy the
ease of convenient living through subsequent retail activities within
the development’s vicinity—truly complementing its promise, Bahay
Saya, Buhay Sagana.”
For more information about Bella Vita, visit the Ayala Land website at
www.ayalaland.com.ph
Amaia expands footprint, launches
Scapes, Steps, and Skies
The Bank of the Philippine Islands (BPI) recently signed an
agreement with the Embassy of Australia to provide it with Internet
banking facility and cash management services via BPI’s awardwinning ExpressLink.
Rod Smith, Australian Ambassador to the Philippines, signed the
agreement with BPI President and CEO Aurelio Montinola III on August
25 in ceremonies held at the BPI 1851 Club. Montinola expressed his
gratitude to the embassy for its business and reiterated the bank’s brand
promise to “Make it Easy” through technology.
Ambassador Smith responded by saying that the technology-driven
banking solutions of BPI would enhance the embassy’s operational
efficiency, as well as boost employee productivity and satisfaction by
providing access to convenient banking services.
Also present at the ceremonies were Australian Embassy’s Consul
General Graeme Tinney and Second Consul Marcus McKibbin; as well
as BPI senior officers including Chief Operating Officer Gil Buenaventura;
Executive Vice Presidents Antonio Paner and Ma. Ysabel Sylianteng;
Senior Vice Presidents Ma. Teresa Javier, Josephine Ocampo, and Ma.
Corazon Remo; and Vice President Nieves Basa.
BPI’s ExpressLink corporate Internet banking facility and cashmanagement services have consistently received recognition from
international award-giving bodies and publications for versatility, cuttingedge technology, and customer approval.
ALI’s Bobby Dy, Ricky Celis, and
Nickie Lingad introduce Amaia
Steps to the media
Following the success of its initial
offering in Calamba, Laguna;
Talisay, Negros Occidental;
and Cabanatuan, Nueva Ecija,
Amaia Land recently launched
new developments in three new
locations—General Trias, Cavite;
Novaliches, Quezon City; and
Cubao, Quezon City.
Amaia Scapes in General Trias, Cavite, is an 18.8-hectare prime lot located
along Arnaldo Highway, and is easily accessible through Daang Hari
Extension, South Luzon Expressway, Cavite Expressway, and Governor’s
Drive. It is also strategically located near educational institutions like Lyceum
Cavite, the De La Salle Medical School and Hospital, and three major malls
including the soon-to-rise The District Cavite, an Ayala Malls development.
Commissioned by
There is still room in which philanthropic
giving in Asia can grow, and as wealth in the
region continues to grow, so too is the interest in
supporting various charitable and development
causes. In addition, philanthropy in Asia is fast
evolving, taking on various forms, often veering
away from traditional notions of giving.
In October the Economist Intelligence Unit of
the leading business magazine The Economist
released a special report, entitled Something’s gotta
give: The state of corporate philanthropy in Asia.
Commissioned by HSBC Private Bank, the report
provided insightful data on how a select number of
individuals and organizations in Asia view the issue
of giving, in terms of “levels of philanthropic giving,
attitudes toward and challenges to philanthropy,
and the future of the field in the region.” Through
research and interviews, the report looked at the
Amaia Steps Nova is a four-hectare development located in Novaliches,
Quezon City, and is composed of 20 five-storey walk-up buildings. Meanwhile,
Amaia Skies is a three-tower, 35-storey residential project located in Cubao,
Quezon City.
This approach, labeled “philanthrocapitalism” by the
report, believes that capitalism itself can be a vehicle
for philanthropy “by driving innovation, ultimately
benefiting everyone.” Recognized within the Ayala
group as the “bottom of the pyramid” approach, it
seeks to empower marginalized sectors of society by
ensuring their access to products and services that
they previously had no access to.
Said JAZA: “We have continuously aligned many
of our business undertakings with the development
goals of the nation. Ultimately, it is also in our own
interest to serve this segment of the market because
This is most evident in how the Manila Water
Company has harmoniously integrated its economic
goals with its social development goals. Manila
Water’s Tubig Para sa Barangay program has brought
an uninterrupted supply of clean water to 1.5 million
low-income people within its concession zone—thus
reducing the need to buy clean water from more
expensive sources, as well as health risks bought by
questionable water sources. At the same time, this
approach has proved profitable for Manila Water—
showing that there is value in this business philosophy
and that it can be shared by both Manila Water and its
clients across all socioeconomic brackets.
The principle of creating shared value also prompted
two Ayala group companies—Bank of the Philippine
Islands and Globe Telecom—to introduce BPI Globe
BanKO, an innovative microfinance bank that uses
mobile phones to deliver financial services to lowincome Filipinos.
Still, Ayala has not abandoned its commitment
to traditional forms of philanthropy; in fact, it has
introduced innovations that breathe new life to the
work of corporate foundations.
The report cites Ayala Foundation, one of the oldest
corporate foundations in the country, for taking a
“strategic, multi-stakeholder approach, which is key
to achieving significant impact.” Gearing up Internet
Literacy and Access for Students (GILAS) is one of the
successful products of this multi-stakeholder approach.
Since 2005, GILAS has successfully connected over
3,000 public high schools to the Internet.
BPI organizes Third Annual Treasury, CFO summit
For the third consecutive year, the Bank of the Philippine Islands
Cash Management Group sponsored the third Annual Corporate
Treasury and CFO Summit in the Philippines. The event was
held on August 11 at the Makati Shangri-La Hotel, and was
cosponsored by Citibank and SGV.
BPI President Aurelio
Montinola
The holding of the summit could not have been more timely,
given the current volatility of the financial market, recent news
of the credit-rating downgrade received by certain international
markets, and the continuing debt crisis in the Euro zone.
Treasurers, chief financial officers, and other delegates totaling
285 had a venue to discuss opportunities and uncertainties in
the post-crisis global economic environment.
Aurelio Montinola III, BPI president and CEO, opened the
summit on an optimistic note, observing that Philippine
corporations and banks remained strong, even though the
volatile external economic environment required treasurers and
CFOs to use every available tool to manage their operations.
Amaia Scapes offers differentiated, stylish, and secure living for Filipino
families who opt to live in urban areas outside Metro Manila. It is suited for
those earning a monthly household income range of P20,000 to P50,000.
Also launched recently were Amaia Steps Nova and Amaia Skies, which are
good options for those who prefer to live within Metro Manila.
“The scale and magnitude of socioeconomic
problems we face, particularly in a developing
economy like ours, need more sustainable solutions
to make a continuing and lasting impact on society,”
the report quoted JAZA as saying. “Private investment
capital, which is far more abundant and self-sustaining
than aid or donations, can be more effective in
reaching segments of the market that have the
greatest need for basic goods and services.”
businesses rely on healthy and dynamic societies to
grow and thrive sustainably.”
Meanwhile, Amando Tetangco Jr., governor of the Bangko
Sentral ng Pilipinas, gave the first keynote address where he
explained, in broad terms, the strategies of the Central Bank.
BSP Governor
Amando Tetangco
For his part, Secretary Cesar Purisima of the Department of
Finance, identified three key issues needed to be addressed
if the global economy were to recover. These are the political
debate surrounding the United States deficit and how it would
affect the role of the US dollar as the global reserve currency;
the sovereign debt crisis in Europe; and currency imbalances,
particularly in China.
Some highlights of the event were a number of lively forums
and discussions, led by some of the leading financial experts
in the country. Antonio Paner, BPI executive vice president and
treasurer, explained how best to exploit hedging derivatives
as a tool to combat currency risk. Meanwhile, Maria Theresa
Javier, BPI senior vice president and chief investment officer,
addressed issues surrounding strategic asset allocation. She
acknowledged the heightened uncertainty and risk facing
CEOs and CFOs, but noted that there are also increased
investment opportunities in light of the very different interest rate
environment pre- and post-crisis.
Sherisa Nuesa (managing director, Ayala Corporation) and Anthony
Raymond Rodriguez (head, treasury and credit, Worldwide Finance
of Integrated Micro-Electronics) shared their insights on “inflation and
interest rate risk management” and “managing short-term cash,”
respectively.
There was also a lively panel session on supply chain finance,
featuring Citi’s Ravi Saxena, head of Trade, Global Transaction
Services; and Mylene Arnaldo Caparas, country head, Global
Transaction Services.
12
Zobel-D’Bayan at Ayala Museum
Ayala Corporation Chairman
Emeritus Jaime Zobel and artist
and lifestyle columnist Igan
D’Bayan recently presented an
exhibit of their artworks at Ayala
Museum, showing that even two
artists coming from seemingly
diametrically opposed sensibilities
could engage in an exciting artistic
dialogue.
Philippine Star President
Miguel Belmonte
Igan D’Bayan and Sari Ortiga of the
Crucible Gallery
JZA gives thanks to the people who
continue to support his artistic efforts
Presented by The Philippine Star in
cooperation with Ayala Corporation
and The Crucible Gallery, the
exhibit is the culminating event of
the newspaper’s silver anniversary
celebration. Philippine Star President
Miguel Belmonte, lifestyle editor
Millet Mananquil, writers and artists
led by National Artist Arturo Luz, as
well as officers from the Ayala group
attended the launch.
Sofia Zobel-Elizalde, Kit Zobel, Miguel Belmonte,
Bea Zobel, Lizzie Zobel, and JZA
One of Jaime Zobel’s artworks on exhibit at the Ayala Museum.
Zobel’s images of graffiti taken in Madrid, London, and Manila signify
a remarkable departure in Zobel’s art
“This exhibit is about contrasts—
contrasts which exist in our societies,
in our beings, and in our lives,” said
JZA. “How can I possibly define
beauty if I have not experienced
ugliness? How can I see light if I
have not experienced darkness?
Or silence if I have not experienced
noise?”
In his latest series of photographs,
JZA presents walls of graffiti and
textures. He was in Madrid when he
became fascinated with the graffiti
that punctuated the landscapes of
the old Latin quarter in the Spanish
capital. Other photographs are from
his travels in London and in and
around Manila.
Igan D’Bayan was also in Madrid
when he was inspired by 16thand 17th-century paintings of
unknown artists he had seen in
old monasteries. Upon his return,
D’Bayan depicted those images
in his paintings, adding a twist
of contemporary horror into the
painterly philosophy.
JZA with National Artist Arturo Luz and
Juvenal Sansó
Igan D’Bayan’s Spoliarium 6
Another artwork by JZA, showing his effort
to find beauty and order in graffiti
Maxine Cacho, Bea Zobel, Elena Colomé, and
Betsy Westendorp
JZA with Star Lifestyle Editor Millet
Mananquil and Raya Mananquil
This exhibit is about
contrasts—contrasts
which exist in our
societies, in our beings,
and in our lives. How can
I possibly define beauty
if I have not experienced
ugliness? How can I
see light if I have not
experienced darkness?
Or silence if I have not
experienced noise?
—Jaime Zobel
JZA with fellow artists
Ayala Land President Tony
Aquino and BPI Family Bank
President TG Limcaoco
JZA, Ayala corporate secretary Mercedita
Nolledo, and Miguel Belmonte
JZA with Ayala officers Eric Francia, JP Orbeta,
Aris Estrada, Elis Tanlapco, Gina Oris, Emi de
Lara, and Jim Villegas
Zobel-D’Bayan ran from November
9 to 13 at the First Floor Gallery of
Ayala Museum.
Artwork by JZA capturing the play of
light on discarded packaging
Reconfiguring the bold colors and bold
strokes found on Spanish graffiti, by JZA
Rowena Tomeldan, Mercedita Nolledo, Tony Aquino, Patxi
Elizalde, Sofia Zobel-Elizalde, the Star’s Lucien DyTiocco,
Maricris Bernardino, and Cathy Bengzon
Mags Baclig, Jo Ann Gando, Olan Cruz, Jan Siena, Mau
Barreiro, and Ves Pedraja
Ayala’s Pauline Mercado and Janet Bautista
14
Ayala Coop moves toward becoming more customer-centric
Over the past 16 years, the Ayala MultiPurpose Cooperative (AMPC) has made its
way toward becoming one of the country’s top
institution-based cooperatives. From an initial
funding of P10,500 in 1995, it now has P700
million in capital and over 17,000 members
across the Ayala group of companies.
In 2010 alone, the cooperative posted 17percent growth in its revenues, a considerable
jump from P82 million to P95 million. The
cooperative continues its steady growth
in 2011 with a larger member acquisition
base while exceeding targets regarding loan
growth, member equity, and assets.
Another example is its tie-up with HR Mall for
the automation of the coop’s front-end and
backroom operations. “Once the HR Mall
project is completed, members may be able
to conduct whatever business they may have
with the coop electronically, thus reducing
the turnaround time and handoffs,” Orosa
explained.
Yet despite the cooperative’s recent string of
successes, Orosa said that she is aware that
there are still many challenges ahead. One
challenge currently faced by the organization is
establishing a more efficient communications
system for its growing number of members.
Lourdes Orosa, AMPC general manager, said
that the cooperative’s success is largely due
to its vision of transforming itself into a more
customer-centric organization. “Streamlining
the group’s processes and revision of loan
requirements and documents were some of the
major undertakings made to fulfill this goal. The
words, ‘Simplify, Automate, Eliminate,’ became
the order of the day,” she said.
In response to this problem, the coop
established its own website, customer hotlines,
and just last November, released its very own
mobile phone number.
To make the cooperative more customercentric, AMPC used its partnership with the
different companies under the Ayala group.
One example is the coop’s partnership with
BPI, where members are allowed 24/7 loan
payment and share capital contributions
through BPI Express Online.
AMPC’s commitment extends beyond providing
assistance for its members; it also believes in
making a significant contribution to the nation,
in the form of outreach projects, partnership
programs with social and environmental
groups, and initiating corporate social
responsibility projects of its own.
Meanwhile, to encourage loan growth among
its members, AMPC introduced new product
offerings such as the Share Cap Loan, Christmas
Shopping Loan, and the Healthcare Loan.
Ayala Land introduces
The District Cavite
Ayala Land and Cavite local
government officials prepare for the
construction of The District Cavite
In a bid to strengthen its presence in Southern Luzon, Ayala Land
Inc. recently announced the development of The District Cavite,
ALI’s first community center in Imus, Cavite.
To create a more participative work
environment, and as part of its anniversary
activities, AMPC employees and its
human resource partners volunteered
in Habitat for Humanity’s Pasig River
Rehabilitation program.
As part of its corporate social
responsibility program, AMPC supported
the development of the library of the
Center of Excellence in Public Elementary
Education (CENTEX), through the
Filipinas Heritage Library’s MyLibrary
program. The CENTEX Library was
officially opened in September, with key
Ayala officials in attendance, including
Ayala President Fernando Zobel de
Ayala, AMPC Chairman Randy Maranan,
directors JP Orbeta and Eliezer Tanlapco,
and Orosa, among others.
For 2012, AMPC hopes to become more
customer-centric by establishing a more
efficient delivery service, providing more
relevant products and services, and
ensuring good returns on the members’
investments and patronage refund.
According to Orosa, members should also
look forward to their own membership
cards, better perks, and more workshops.
Makati Development Corp.
opens precast plant
Makati Development
Corporation’s precast plant has
recently been opened in San
Felix, Santo Tomas, Batangas
The Makati Development Corporation (MDC), Ayala Land Inc.’s
construction arm, recently opened its own precast plant in San Felix,
Santo Tomas, Batangas.
The District Cavite is envisioned to provide neighboring communities with
a convergence point for basic shopping needs and casual dining. The
development will include a two-level supermarket, a department store,
and a BPO facility to complement the retail mix.
The precast plant was built to enhance the company’s construction
capabilities in line with Ayala Land’s rising number of upcoming projects.
This is also in line with the company’s strategy to provide the growing
property industry the complete line of construction services, which
include engineering, procurement, construction, and construction
management services.
A “first pouring” activity was held on site on September 9. In attendance
were Ayala Land executives, which included Corazon Dizon, vice
president and head for business development and strategic planning,
and Rowena Tomeldan, vice president and head for operations and
support service. They were joined by key Cavite officials, represented by
Governor Jonvic Remulla and Homer Saquilayan, Mayor of Imus, Cavite.
The MDC Precast Plant was designed for the production of precast
concrete exterior wall panels. Instead of typical hollow blocks, these
panels are used in MDC’s various high-rise residential buildings. The
plant, which can produce approximately 75,000 square meters of wall
panels every year, aims to improve efficiency and speed up construction
time.
With the mall set to open in the latter part of 2012, families, students, and
office workers can now look forward to a new and refreshing commercial
center that will promote quality time and interaction among families and
communities living in Imus.
MDC’s Precast Plant will give Ayala Land a significant edge over its
growing number of competitors, aside from being able to deliver projects
on time with better quality and efficiency.
16
El Nido Resorts: A favorite among
frequent travelers
IMI holds brand orientation in Europe
Tan said: “If we manage our business right, dealing with the realities of
the global economy should become second nature to us. What will give
us the advantage in the global playing field is our flexibility and passion
for innovation. Adapting to new and better ways of doing things is key to
surviving and thriving in a highly volatile global economy.”
IMI President Arthur
Tan discusses the IMI
brand
Gilles Bernard,
IMI Europe head,
expresses his team’s
support of the IMI
brand
Integrated Micro-Electronics Inc. (IMI) held a series of brand
orientation meetings for the employees of its facilities in Bulgaria and
Czech Republic. The meeting in Botevgrad, Bulgaria, was held on
November 15, while the other meeting was held in Tremošná, Czech
Republic, on November 16.
Present in both meetings was IMI President and Chief Executive Officer
Arthur Tan, who introduced the IMI brand promise, “Flexible Experts.”
He explained: “The IMI brand is built on our strong flexibility, the kind
that reliably delivers improved business to every one of our customers
by deploying innovative and adaptable expertise.”
“We like to be regarded as the flexible experts,” Tan added. “We focus on
the value discipline of customer intimacy. We aim to excel in segmenting the
market and offering customized solutions to target segments based on indepth knowledge of customer requirements.”
IMI employees all over the world observe the same work and customer ethics
as embodied in three key values.
“First, we believe in collaboration and customer enthusiasm,” Tan explained.
“We bring energy and enthusiasm to our work. We empathize with our
customer’s needs through openness and transparency. Their concerns
are surely our concerns. By collaborating with them, we arrive at the right
solution.
“Second, we appreciate flexibility or flexible thinking. We explore all
possibilities to develop the right solution. Unlike EMS companies with rigid
processes, we have simply become more flexible through the years, resulting
in new ideas and innovative solutions. We don’t mind challenging our own
systems and processes.
In August, IMI established its manufacturing footprint in Eastern Europe
and Mexico by acquiring four subsidiaries of Epiq, a leading regional
electronics manufacturing services (EMS) provider.
“Third and last, we advocate precision or expert knowledge. We leverage our
capabilities, experience, and geographic footprint to handle the requirements
of our customers. We continually upgrade our processes, equipment,
knowledge and skills to ensure that they are the best in the industry.”
This move was in line with IMI’s globalization efforts, so it could bring its
services closer to original equipment manufacturers (OEMs) in different
regions of the world.
Gilles Bernard, head of IMI Europe, said that being part of the IMI family
has expanded the European employees’ capabilities and brought stronger
synergy, enhancing their competitiveness in the marketplace.
IMI’s continued expansion, however, also led to the discovery that it
operates in an uncertain and competitive global economy, with great
opportunities and equally great challenges and threats.
Ayala EAs get together at Ayala
Triangle Gardens
UP–Ayala Land TechnoHub wins
at ASEAN Energy Awards
Benjie Borja, area manager of UP
Ayala Land Techno Hub (right)
receives the ASEAN Energy Awards in
a ceremony in Brunei. Also in photo is
Energy Secretary Rene Almendras
From left: Manila Water’s Nova Joy Balboa; Ayala’s Lou Tongco; Manila Water’s
Ester Yusingco; Ayala’s Nina Aquino, Edith Lopez, and Cecile Milaor; LiveIt’s
Cecille Aquino; Ayala Foundation’s Sarah Sevilla; ALI’s Jinky Aguinaldo; Ayala’s
Amelia Cayaba; BPI’s Grace Salita; Ayala’s Fe Burog and Josie Quintos. Not in
photo are Ayala’s Juliet Azanza, IMI’s Cita Aler, and Globe’s Marie Yvonne de
los Reyes
Executive assistants to Ayala group CEOs and group heads at
Ayala Corporation gathered for an informal lunch at the Ayala
Triangle Gardens on November 11. Hosted by Ayala’s corporate
communications unit, the semiannual gathering aims to foster
synergy and coordination within the group.
The University of the Philippines–
Ayala Land TechnoHub, a property
managed by the Ayala Property
Management Corporation (APMC),
won in the special submission
category of the recent ASEAN
Energy Awards. The award was
given to APMC during the special
awarding ceremonies held in
Brunei on September 20.
The special submission category covers building-sector agencies in
an Asian country like the Philippines. To qualify for the award, these
agencies should be developing and implementing innovations in the use
of various technologies to reduce energy consumption in the buildings.
The other categories for the awards cover new and existing buildings,
tropical buildings, and retrofitted buildings.
The building types that are qualified for the competition are office
buildings, hotels, hospitals, shopping malls or retail commercial
buildings, schools, and libraries.
The UP–Ayala Land TechnoHub covers a land area of approximately 37.5
hectares located within the UP property along Commonwealth Avenue,
and is a low-density complex with parks and open spaces. The vision
for this property was for it to become a venue for collaboration between
industry and academe.
El Nido Resorts made it to the list of
Top 25 Leisure Hotels and Resorts
in Asia in the recently concluded
Best in Travel Poll 2011. The poll was
conducted by Smart Travel Asia, an
online travel magazine read by over one
million frequent travelers from all over
the world.
El Nido Resorts has been chosen as
The annual Best in Travel Poll is now
one of the top 25 leisure resorts in Asia
on its seventh year, and has enabled readers
to name their favorite travel brands and
destinations based on their actual experience, recommendations from friends,
and their perception of the brand based on media exposure.
El Nido’s Lagen and Miniloc Island Resorts were ranked 10th and 16th,
respectively, in the Top 25 Leisure Hotels and Resorts category.
“The El Nido team has an amazing dedication toward satisfying our
customers. These ratings are a reflection of their hard work. While we are
operating in amazing locations and we are gearing up to improve our products
and portfolio, our service is certainly the main wow factor,” said Laurent
Lamasuta, President of Ten Knots Development Corporation.
There were 11 categories in this year’s Best Travel Poll. Apart from the Top 25
Leisure Hotels and Resorts category, there were also listings of Asia’s Top 25
Airports, Top 25 Airlines, and Top 25 Business Hotels, among others.
This year, the travel poll was conducted over a period of three months, from
May to July 2011. Sixty percent of the voters were based in Asia and on the
average took 15 air trips over the past 12 months.
BPI receives Quality
Recognition Awards
BPI AVP Ivy Maria de Guzman
(center) receives the
Commerzbank award from
Commerzbank’s Relationship
Manager Carsten Kosboth and
Senior Relationship Dirk Rohde
Frederic Cabay, managing director
for Financial Institutions Asean
Region, presents the JP Morgan
Award to BPI EVP Antonio Paner and
AVP Ivy Maria de Guzman
The Bank of the Philippine Islands (BPI) was again presented with
Quality Recognition awards for 2010 by the following prestigious
international financial institutions: JP Morgan Chase Bank for the
seventh consecutive year; BNY Mellon for the fifth consecutive
year; and Commerzbank AG Frankfurt for the fourth consecutive
year for EUR payments.
Through its “BPI to World” money transfer service, BPI once again
proved its expertise and leadership in the field of servicing the foreign
outward wire payment requirements of its clients, meeting, if not
exceeding, the stringent standards of international banks in terms of
efficiency and value delivery.
BPI customers enjoy the benefit of having a fast, efficient, and costeffective way of transferring funds in most of the major currencies
through BPI to World. The awards that BPI received from the above
international partner banks also serve as a testament to its long-term
commitment to quality.
Honda Cars Global City is
Honda’s first certified
‘Green’ Dealer
From left: Honda Cars Philippines
Inc. (HCPI) President Tatsuya
Natsume, Honda Cars Makati Inc.
(HCMI) General Manager Ramon
Zialcita, Ayala Automotive Holdings
Inc. Chairman and CEO Rufino Luis
Manotok, HCPI Customer Service
Division Head Danny Pedro, and
Director for the Department of
Environment and Natural ResourcesEnvironmental Management Bureau
Atty. Juan Miguel Cuna at the simple
awarding ceremonies held at Honda
Cars Global City
Honda Cars Makati Inc. (HCMI) achieved another first, as one of
its outlets, Honda Cars Global City, received the first ever Green
Dealer Certification given by Honda Cars Philippines Inc. (HCPI).
In a simple ceremony held at Honda Cars Global City, HCPI President
Tatsuya Natsume handed over to Ayala Automotive Holdings Inc.
Chairman and CEO Rufino Luis Manotok the plaque of recognition. The
director for the Department of Environment and Natural Resources–
Environmental Management Bureau (DENR-EMB) Atty. Juan Miguel
Cuna also graced the event and gave a meaningful talk on some of the
country’s most urgent environmental concerns.
Honda Cars Global City successfully complied with all of HCPI’s
environmental requirements to become the brand’s first green dealer in
the country. This project initiated by HCPI aims to encourage every Honda
Cars dealer in the country to take an active part in taking care of the
environment.
Manila Water’s sustainability
program bags Ecoswitch, ‘Green
Coin’ awards
Manila Water is the latest recipient of the Ecoswitch and
Green Coin Awards. Receiving the award are (from left)
Geodino Carpio, operations group director; Christine Casabar,
environmental sustainability manager; and Mark Mulingbayan,
environment department danager.
Green Philippine Islands of Sustainability (GPIoS), a part of the
European Union in the Philippines’ SWITCH–Asia Programme,
recognized the sustainability efforts of the Manila Water Company by
giving it the Ecoswitch Award. The awards ceremony was held recently
at the Asian Institute of Management Conference Center in Makati City.
The award is given to an organization that successfully implements
environmental measures that are built on the “triple-bottom-line approach”—
Planet, People, and Profit. Aside from this, Manila Water was also the recipient
of a special award called the Green Coin Award, for its Ecoprofit/Cleaner
Production Implementation. This has led Manila Water to reduce waste,
increase energy efficiency, and improve the health and safety of workers,
among other benefits. Manila Water shared with other participating companies
the lessons it had learned from these initiatives, putting special focus on its
“5S” program, energy efficiency, operations improvement, and greening the
supply chain.
18
Leadership Communities: Building communities that build leaders
we reflected on the impact we wanted to make
and asked what more we could do. Are we doing
enough to create this critical mass of leaders that
can lead to a tipping point?” said AYLC Program
Director John Philip Orbeta.
JZA is joined by Ayala officials and
LeadCom partners and supporters
AYLC alumni take time to join JZA
Ayala Foundation Inc. (AFI), in partnership with
Active Aid Partnerships (AAP), officially launched
its latest youth leadership development program
on November 3, with partners and members of
the academe in attendance.
Inspired by the impact of the annual Ayala Young
Leaders Congress (AYLC), which for the past 13
years has been bringing together the country’s
most promising student leaders, AFI developed
the Leadership Communities (LeadCom) program
to inspire and develop an even greater number of
young servant leaders all over the Philippines.
“The roots of LeadCom started back when we
were preparing for AYLC’s 10th congress in 2007,
Taking on the challenge of developing more
young leaders, LeadCom aims to develop the
capacity of colleges and universities to nurture the
leadership skills of their students and the youth in
their localities.
“We believe that every person can develop his or
her leadership skills,” said Jaime Augusto Zobel
de Ayala, Ayala Corporation chairman. “We look
to your institution (schools) as the country’s best
hope for developing the leadership skills of our
children and youth. The many years they spend
within your walls give you the perfect opportunity
to give them the skills, the tools of leadership, as
well as the values and the moral moorings to use
their leadership potential in the service of others.
We would like to see our educational institutions
take on the challenge of developing our youth,
not just for academic excellence but for servant
leadership as well.”
Working with five to 10 partner colleges and
universities in a chosen province, the program’s
goal over a 12-month period is to form a community
and network among these schools to champion
youth leadership development and to equip them
with the skills and competencies to develop servant
leaders on a regular and sustained basis.
The program begins by putting together a core
group of school representatives who will build
synergy and cooperation among their schools and
other local partners. Under AFI’s guidance, the
partner schools jointly organize a three-day student
leadership camp for 100 college students.
(From left) Ayala Foundation Senior
Director Mario Deriquito, LCF trustee
Cecile Alcantara, Education Secretary
Armin Luistro, and PBSP Executive
Director Rafel Lopa are among the
proponents of TEN Moves!, which hopes
to raise funds for the construction of
classrooms all over the country
What makes the program unique is that LeadCom
partner schools are then asked to implement a
LeadCom-inspired leadership program within their
walls, thus multiplying its impact and reach.
Prior to its launch, LeadCom was piloted in two
areas—Catanduanes and Oriental Mindoro. In
Catanduanes, seven partner schools already set
up their facilitators’ network and began conducting
leadership trainings in their respective schools,
using a unified leadership development module they
themselves created.
In Oriental Mindoro, meanwhile, using seed funds
provided by AAP, the delegates to the LeadCom camp
started implementing various entrepreneurial and
service programs in their communities.
After having taken a keen interest in the Philippines
and developing young Filipino leaders, Active Aid
Partnerships’ support of the program will make it
possible to bring LeadCom to 12 areas in the country
over the next two years.
In 2012, LeadCom will be brought to six areas, which
include Benguet, Isabela, Capiz, Samar, Misamis
Oriental, and Davao.
The Manila Water Company’s commitment to providing clean water
does not only cover the people living within its concession zone. In
fact, this commitment extends beyond the east zone of Metro Manila,
and it is most evident during times of need.
Following the onslaught of Typhoon Pedring in September, Manila
Water officers and staff immediately volunteered to provide assistance
to some of the hardest-hit areas, particularly the province of Bulacan.
The Manila Water volunteers heeded the call of officials from the
Metropolitan Waterworks and Sewerage System and the local
government units of Bulacan. Because of the massive flooding, there
was an absence of potable water in the calamity-stricken towns of
Calumpit, Hagonoy, and others.
According to Bob Licup, Manila Water director for special projects,
some 7,000 cups of “baso water” (clean water in sealed plastic cups)
were distributed in the first two days in the calamity areas, with an
additional 1,400 cups distributed not long afte.
The company’s mobile treatment plant was also deployed on site near
Labangan Bridge in Calumpit since October 1 to ensure the availability
of safe drinking water. In addition, a water tanker was posted at
evacuation centers, including the Calumpit National High School and
San Marcos School in Calumpit and the San Pedro School in Hagonoy.
a day for 10 months. That will be P300 per
month or P3,000 for 10 months. If 2 million
Filipinos make that commitment, the needed
P6 billion for 10,000 classrooms will be raised.
This was the main message of a new multistakeholder initiative called The Entire Nation
Moves (TEN Moves!), which hopes to build as
many as 10,000 classrooms in two years.
Department of Education Secretary Armin
Luistro encouraged Filipinos to support the
program. He said: “We are calling on all
Filipinos to work with us in bridging resource
gaps, especially the task of addressing
classroom shortage, which is a critical step in
providing enhanced opportunities for millions
of Filipino children.”
The main strategy of TEN Moves! is to get 2
million Filipinos who will commit to donate P10
Manila Water volunteers provide
clean water for victims of Typhoon
Pedring in Hagonoy, Bulacan
Aside from water, about 500 bags of relief goods for adults and 50
bags for babies were distributed through the Manila Water Foundation
in close coordination with Bulacan Governor Willy Alvarado.
A P10 donation every day over a period of
10 months will go a long way in addressing
the lack of classrooms in public schools in
the country.
Ayala Foundation serves as project lead for
TEN Moves!, which has two main objectives: to
raise the needed resources for classrooms, and
to create a constituency for education among
ordinary Filipinos. The campaign appeals to the
Filipino’s sense of citizenship and gives them
the opportunity to take part in nation-building.
JD Khe: A hero, a soldier,
an Ayala Young Leader
Drawing inspiration from the AYLC, this leadership
camp becomes a venue for young leaders to interact
with each other, learn leadership values, and hone
their skills to help them become positive agents of
change in their schools, communities, and society.
Help build 10,000 classrooms in ‘TEN Moves’
Officially launched on October 13 at the
fountain area of Ayala Tower One, TEN Moves!
is an initiative of the 57-75 Movement, led by the
League of Corporation and Philippine Business
for Social Progress.
Manila Water committed to providing
clean water even in times of need
As early as July, when the project was
introduced to the private sector, TEN Moves!
gathered as much as P2.6 million in individual
donations and corporate pledges. During the
public launch in October, the program received
an additional P300,000 in pledges.
Visit www.tenmoves.org or email info@
tenmoves.org for details
Meanwhile, Manila Water also responded to the need for clean water
in public schools within its concession zone.
For some time, the Western Bicutan National High School (WBNHS),
with a population of about 4,400 schoolchildren, teachers, and staff,
did not have access to clean water.
“The only available source of water came from private water vendors
and delivery trucks,” said Dr. Rea Milana, WBNHS principal. We had no
recourse but to buy them daily to meet the school’s most basic need.”
With the assistance of the Taguig local government, the process of
connecting the school with Manila Water was set in motion. While the
application process was running, Manila Water immediately extended
support by testing water quality and evaluating the water system.
“The school now has adequate supply of clean potable water from
Manila Water. Sanitation inside the school has improved,” said Milana.
“As an added bonus, Manila Water, through its ‘Lingap Eskwela’
program, provided the school with a wash area and drinking station.
These facilities helped ease the burden of the children because they
will no longer buy bottled water for drinking water.”
Launched in 2003, Manila Water’s Lingap Eskwela program helps
public elementary and high schools within the east zone concession
area gain access to a steady supply of clean water, thus lessening
their dependence on deepwells as water sources.
2Lt JD Khe, in one of the activities
at the 11th Ayala Young Leaders
Congress in 2009
On October 18, in Al-barka, Basilan, 19 soldiers were slain
in a clash between the Moro Islamic Liberation Front (MILF)
and a special forces unit of the Army. Four of the 19 soldiers
were officers; one of these was a man who chose to stay
behind and sacrifice his own life to save the others—Second
Lieutenant Jose Delfin Khe.
On that day, Khe and his fellow soldiers bravely faced battle despite
being outnumbered. Khe sustained gunshot wounds in the chest
and leg, but was firm in his decision to die with his men. His final
instruction to a survivor of the attack was, “Kapag malapit na sila,
tumakbo ka. Umalis ka na.” (If they are near, run. Leave.)
Better known to the Ayala Young Leaders alumni family as JD, Khe
was part of the Ayala Young Leaders Congress (AYLC) Batch 2009,
“Hiraya.” Though JD’s AYLC family mourned the loss of a bright
young man whose leadership had a huge impact on the people
and the communities he had served, they remain proud of his
heroism and courage.
JD’s batch mates remember him with respect and fondness. Erika
Dimaguila knew JD as a simple man with great dreams. “JD had
a big heart. He defied the stereotype of a soldier. He was not
one who limited himself to doing the duties of an army officer.
Instead, he reached out to the communities he was assigned to
and loved their people as if they were his own. He was a walking
contradiction. A toughie and softie in one—matapang at maopinyon, pero makulit at malambing din.” (Fierce and opinionated,
but playful and affectionate too.)
Sittie Norhanie Lao wrote a tribute to JD, where she said: “He
always managed to enlighten me through our very meaningful
conversations. But until now, I find it most puzzling how he
developed a strong penchant for coming to a place [perceived as
dangerous]. He wanted to come to Mindanao…. He saw the needs
of the people and had always hoped to contribute.”
Former Isabela Governor Grace Padaca was the keynote speaker
at the AYLC 2009, and in her column, she expressed her deepest
regrets at the loss of this valiant soldier. She remembered JD as the
PMA-er who stood up and said, “Ma’am, I am JD from the Philippine
Military Academy. In the academy, a star is a symbol of excellence
and leadership. When I knew that you would be one of our speakers,
I removed this from my uniform so that I can give this to you.”
Many more spoke of how JD had touched their lives and changed
them through his example, his conviction, and his values. In life and
in death, he was a servant leader who did not stop inspiring others to
do more for the country. When asked about the hardships of being
a soldier, with love and passion he responded, “I am married to my
profession first.”
JD was buried with military honors and a 21-gun salute last October
27 at the Libingan ng mga Bayani. Ayala Corporation Chairman
Emeritus Jaime Zobel de Ayala, a father figure to the 963 alumni of
the AYLC, joined AYLC officials and alumni in the burial march and in
paying their last respects.
20
Young leaders from nonprofit sector meet at ‘AYLA Café’
Ayala Foundation, partners celebrate five years
of Ayala Recyclables Fair
also presented livelihood opportunities, involving the
recycling of plastic, for women; and a video presentation
for kids regarding Tetra Pak’s carton recycling program.
AFI Director Wilma Zapata (left)
congratulates some of the most active
supporters of the Ayala Recyclables Fair
AYLC alumni with congress director Simon Mosessgeld and program director JP Orbeta
For the first time, Ayala Young Leaders
Congress (AYLC) alumni working in the
nonprofit and development sectors gathered
to discuss the latest happenings in their
respective fields.
The event was attended by 21 AYLC alumni now
working in various nongovernment organizations
and foundations. Dubbed AYLA Café: Young
Leaders in the Nonprofit Sector, the get-together
was held on September 22 and served as a venue
for networking, catching up, and identifying areas
of collaboration.
alumni, aims to bring together AYLC alumni from a
specific sector or interest group for an opportunity
to network with fellow AYLC alumni. In previous
years, AYLC alumni from all batches met annually
for a networking lunch or dinner. The concept for
the event was modified to help alumni develop a
stronger network and share best practices in their
specific sector or interest group.
Also present at the event were AYLC Program
Director John Philip Orbeta and AYLC Congress
Director Simon Mosessgeld.
“I gained new insights into how to efficiently run
an NGO,” shared Jonathan Andro Tan, AYLC
2010 alumnus, and executive director of the
Bible-based Education, Research, Equipping
and Administration (BEREA) Foundation Inc.
“Plus, I have gained new connections and
networks with other organizations for possible
collaboration projects.”
The AYLA Café, developed by the AYLC
Secretariat as part of its continuing support for its
Tan shared that he is looking into the possibility
of working with Metrobank Foundation in
Philippine team wins Intel-DST Asia Pacific Challenge
developing a “sustainable training program for
teachers.” AYLC alumni Ritchelle Buena and Bayani
Alonto Jr. both work for the Metrobank Foundation.
At the same time, BEREA Foundation hopes to
partner with the Center for People’s Empowerment
and Community Development (CPECD) to develop
an entrepreneurial program for vendors in Rizal.
Fellow AYLC 2010 alumnus Tobit Cruz is the current
executive director of CPECD.
This was the third AYLA Café organized by the
program secretariat. Earlier this year AYLC Alumni
working in the military sector met in Baguio, and
AYLC 2011 alumni met in May to catch up and start
planning for a batch project. Two other AYLA Cafés
were organized in October and November.
New FINEX president is Ayala’s Opulencia
The Financial Executives Association of the
Philippines (FINEX) recently swore in its
new set of officers, with Ramon Opulencia,
managing director and treasurer of Ayala
Corporation, taking on the role of the
organization’s president.
(From left) Laurence Co of
Lapatronix, Ayala Foundation’s Michi
Barcelon, and Lapatronix team leader
Joshua Aragon at the Intel-DST
Challenge in Bangalore, India
A team of fresh graduates from De La Salle University’s Department of
Manufacturing and Engineering Management won one of the two top slots in
the Intel-DST Asia Pacific Challenge in Bangalore, India, on September 21.
Lapatronix, which was one of the two teams chosen by Ayala Foundation’s Technology
Business Incubator Network for the competition, was composed of DLSU students
Laurence Co and Joshua Aragon, and is a new company that is in the process of
incorporation. Lapatronix’s entry to the competition was an improved laparoscopic
tool that allows a surgeon to make a wider range of movements during surgery while
reducing fatigue and discomfort, as well as helps shorten the postoperative recovery time
of patients and provides access to low-cost rapid health care. The other winning team
was Algan K.K. of Japan, for its portable ultraviolet index sensors and networking system
to reduce UV risk and exposure. The winning teams received $7,500 each.
The Intel-DST Asia Pacific Challenge is a competition for high-tech, high growth
technology innovations. For 2011, Intel APAC partnered with India’s Department of
Science and Technology (DST) and the Asia Pacific Incubation Network (APIN), a
network of business incubators across the Asia Pacific organized under the World Bank’s
infoDev initiative on incubation and of which Ayala Foundation’s Technology Business
Incubator is a member.
Ayala Treasurer
Ramon Opulencia
Organized in 1968, FINEX is a non-stock,
nonprofit, nonpolitical association devoted to
the continuing development and improvement
of financial management techniques and the
promotion of efficiency in business enterprises.
ALI HR head cited at Asia Best Employer
Brand Awards
ALI Group Head for Human Resource and Public
Affairs Pinky Ruiz received a citation at the 2011
Asia’s Best Employer Brand Awards, in ceremonies
held recently in Singapore.
ALI’s Pinky Ruiz
Ruiz is the only HR practitioner from the Philippines
to receive the prestigious HR Leadership Award
from the Employer Branding Institute, a network
composed of senior HR leaders from over 36
countries sharing best practices in employer
branding, talent, and organizational development.
To celebrate its fifth anniversary, the Ayala
Recyclables Fair (ARF) organized a special event
on September 9 at the Glorietta 3 Parkway,
Makati City.
The event served as an opportunity for Ayala
Foundation Inc., which spearheads the
implementation of the project, to thank its partners
and supporters. In keeping with the recyclables
fair’s commitment to environmental protection,
AFI adopted trees through the Tree4Life Program
of the EarthDay Network and named them after
stakeholders, partners, and select regular sellers.
In addition, the iRecycle Card was launched to
give regular participants a chance to earn tokens
from partner recyclers, every time they bring their
recyclables to any ARF venue.
Also part of the program was a demonstration of
how polystyrene (Styrofoam) could be melted and
recycled into ingots. The anniversary celebration
A number of ARF partners also exhibited their various
environmental initiatives, particularly new products
made out of recycled materials. Exhibitors from the local
government sector included the Makati City Department
of Environmental Services, Quezon City Environmental
Protection and Waste Management Division, Muntinlupa
Environment and Sanitation Center, and Barangays
San Lorenzo and Magallanes of Makati City. Project
partners and recyclers included Envirocycle, YGARC
Trading, Trust International Paper Corporation (TIPCO),
Polytrader Plastic Products, and Philippine Recyclers,
Invisible Sisters, the women of Nuvali, the Earth Day
Network, and the Solid Waste Action Team cluster under
Climate Change Imperatives (featuring the Zero Basura
Olympics for Businesses). Tetra Pak Phils., Polystyrene
Packaging Council of the Philippines (PPCP) and the
Philippine Plastic Industry Association (PPIA) also joined
the celebration. PPCP and PPIA are Ayala Foundation’s
partners in the collection and recycling of polystyrene
postconsumer products and plastic bags.
Launched in 2006 at the Ayala Center and Alabang
Town Center, the Ayala Recyclables Fair (formerly
the Waste Market), provides the shopping public a
convenient, accessible, and regular waste disposal
venue by bringing recyclers, accredited by the
Department of Environment and Natural Resources,
to the malls. The ARF now runs regularly in eleven
venues in Metro Manila and its outskirts—Makati
City, Muntinlupa, Quezon City, Taguig, Pampanga,
and Laguna.
Honda Cars Pasig supports
QC tree-planting project
Quezon City Vice Mayor Joy Belmonte,
third-district councilors Gian Sotto and
Allan Reyes, and Barangay Bagumbayan
Chairman Elmer Maturan are joined by
Honda Cars Pasig officer volunteers during
the tree-planting activity
As part of its commitment to contributing to the protection of the environment, Honda
Cars Pasig recently participated in Quezon City’s Native Regreening Tree-Planting
Project held along Barangay Bagumbayan on C5 Road.
Honda Cars Pasig volunteers planted numerous banaba seedlings in designated
areas together with other volunteers from Integrated Distribution Service Logistics,
San Beda College Foundation, and various Quezon City residents. Quezon City
Mayor Herbert Bautista, through Vice Mayor Joy Belmonte, sent his encouragement
to the participants, saying that there is a great need to plant native trees in the
municipality to promote the country’s endemic plant species. Other local government
officials agreed, saying that activities such as these serve as a continuing effort to live
harmoniously with nature.
Honda Cars Pasig together with Honda Cars Makati, Honda Cars Alabang, Honda
Cars Shaw, and Honda Cars Global City, are outlets of Honda Cars Makati Inc., a
member of the Ayala group of companies.
Recyclables Fair at Trinoma
Recyclables Fair at Market! Market!
Maricar de
Chavez and
Adel Licos
of AFI’s
environment
team
Isuzu Automotive Dealership helps
over 10,000 students take their seats
Isuzu Automotive
Dealership Inc. (IADI)
responds to the need
for seats in some of
underserved public
schools, particularly in
areas where there are
Isuzu dealerships
As part of its corporate social responsibility initiatives, Isuzu
Automotive Dealership Inc. (IADI) recently donated bench-type seats
to its adopted schools, which could benefit over 10,000 students.
Refurbished by IADI’s body repair section to ensure the seats’ safety and
stability, these seats found new homes at the students’ reading areas,
classrooms, and cafeterias. Among the beneficiaries are Itaas Elementary
School, Imus Pilot Elementary School, Pasong Santol Elementary School
and Iskul ni Bobby’s Rescue Center, Aral Aruga (a community-based
center), Manggadilang Center (a center for street children), and Munting
Pamayanan ng Nay Kapansanan Center.
IADI representatives also conducted a lecture on Road Safety and
Disaster Preparedness for students as part of its vision to diminish cases
of road accidents, especially among children.
Isuzu Automotive Dealership, a member of the Ayala group of companies,
has outlets in Alabang, Cavite, Pasig, and Rizal.
22
Great Philippine Book Café attracts local, international writers
Ayala Museum launches Joya exhibit, catalogue
Two Pulitzer-prize winning
novelists joined the country’s most
highly acclaimed writers, as well as
some of the world’s top publishing
professionals, in a series of highly
spirited discussions during the
second Manila International
Literary Festival held at the Ayala
Museum on November 16 to 18.
Junot Diaz, author of The Brief
Wondrous Life of Oscar Wao
(Pulitzer Prize for Fiction, 2008),
and Edward P. Jones, author of
The Known World (Pulitzer Prize for
Fiction, 2004) took part in several
panel discussions in the three-day
festival, which carried the theme,
The Great Philippine Book Café.
Organized by the National Book
Development Board, in cooperation
with the Filipinas Heritage Library,
the festival served as a venue
where various issues and concerns
surrounding literary production
were discussed, and where local
and international writers could
interact. The festival also provided
Filipino writers an overview of the
international publishing industry,
with literary agents and literary
editors giving the lowdown on what
it takes to become a published
author. In addition, the festival
hoped to serve as a gateway
through which the best Filipino
writers could reach international
publishers, and ultimately a wider
international audience.
Resil Mojares, a highly respected
literary scholar and essayist, delivered
the keynote speech, where he tried
Pulitzer Prize–winning novelist
Junot Diaz, author of The
Brief Wondrous Life of Oscar
Wao, interacts with one of
the participants at the Manila
International Literary Festival
Edward P. Jones, author of
the Pulitzer Prize–winning
novel The Known World, is
one of the main speakers
at the Great Philippine
Book Café
Some of Joya’s best works now on
view at the third-floor gallery
(From left) Kenneth Esguerra, Josie
Joya-Baldovino, and Josefina Joya
during the catalogue launch
to answer the provocative question,
“Where in the world is the Filipino
writer?” His answer, however,
came in the form of an even more
provocative question: “How visible is
Filipino writing to themselves?”
Mojares said: “For now, the
important thing is not to wonder
whether we are visible to the world
but to ask how fully visible we are
to ourselves. It is in becoming fully
visible to ourselves that, I trust, we
shall be visible to others.”
Meanwhile, Diaz and Jones were
the speakers at a panel entitled
“Writing from the Margins.” Diaz,
who had emigrated from the
Dominican Republic as a child, and
Jones, an African American who
had been raised in Washington
D.C., spoke eloquently about their
experience as writers of color.
Excerpts from their works were also
read during the session.
Other international guests who
graced the festival included Rachel
Kahan, literary editor at the New
York publishing house G. P. Putnam
and Sons; Ravi Mirchandani, editor
in chief of Atlantic Books UK, which
published Aravind Adiga’s Booker
Prize–winning novel White Tiger;
Priya Doroswamy and Jayapriya
Vasudevan, representing Jacaranda
Press, India’s foremost literary
agency; and Holly Thompson, an
American writer for young adults
currently based in Japan.
The rest of the three-day conference
featured breakout sessions
presided over by writers, publishing
professionals, and literature and
writing professors. Some of the
highlights included the following: “In
Search of the Great Philippine Novel,”
featuring prizewinning novelists Jose
Dalisay Jr., Charlson Ong, Alfred
Yuson, and Cristina Pantoja Hidalgo;
“When Literature Offends,” featuring
Beverly Wico Sy, Isagani Cruz, and
Jose F. Lacaba; “From Pen to Print—
and Everything in Between,” which
discussed the process of publishing
a book, featuring Vasudevan,
Mirchandani, and Doraswamy; “From
Print to Silver Screen,” featuring Alvin
Yapan, Khavn de la Cruz, Jose F.
Lacaba, and Ricky Lee; and “How
to Get the Young to Read,” featuring
Tarie Sabido, Honeylein de Peralta,
Ralph Galan, and NBDB chair Neni
Sta. Romana-Cruz.
Fishpond Reflection
Oil on canvas
1960
Ang Ilustrador ng Kabataan celebrates 20 years at Ayala Museum
Ang Ilustrador ng Kabataan (Ang INK), the
country’s only organization of children’s book
illustrators and designers, is partnering with the
Ayala Museum to present 20 Taon, an exhibition
of the published works of Ang INK members, as
well as their latest unpublished works.
Founded in 1991, Ang INK contributed to the
professionalization of children’s book illustrators in
the Philippines, and has enriched Filipino children’s
stories with memorable images.
The exhibition is also supplemented by a series of
lectures and workshops for the artistically inclined,
both children and adults alike.
In celebration of the 80th birth anniversary of
National Artist for Painting Jose T. Joya, the
Ayala Museum opened the exhibition Images
of Nation: Abstracting Joya, on September
20, at the third-floor gallery.
The Images of Nation exhibition series gathers the
works by Filipino artists who were named National
Artists in Visual Arts. A collection of works by this
select group of artists shows the extraordinary
vision and formal excellence embodied in this
important national award.
In addition, the museum launched the companion
catalogue for the exhibition on October 27. Josie
Joya-Baldovino, the artist’s sister and Abstracting
Joya exhibition partner, delivered a message
recollecting memories of her brother and citing
his enduring influence and legacy.
Images of Nation: Abstracting Joya will be on view
until January 8, 2012. Additional support for this
exhibition was provided by Oriental Assurance
Corporation.
“More than an artist, he was also an educator,”
said Baldovino, who remembered how the
National Artist had always been generous with his
knowledge and technique.
The Great Philippine Book Café marked
the second year of the partnership
between NBDB and FHL in holding the
Manila International Literary Festival.
Kenneth Esguerra, Ayala Museum senior curator
and head of conservation, presented copies of
the Images of Nation: Abstracting Joya catalogue
to the artist’s family, represented by Baldovino
and sister Josefina Joya.
National Artist for Sculpture Arturo Luz and fellow
artists Romulo and Jonathan Olazo, Juvenal
Sansó, Al Perez, Virgillio Pandy Aviado, and
Edgar Fernandez were in attendance to celebrate
this occasion. Also present were figures from the
cultural and education circles including National
Museum Director Jeremy Barns, historian Ambeth
Ocampo, designer Rachy Cuna, and writers
Reuben Cañete and Esperanza Gatbonton.
20 Taon will be available for viewing at the Ayala
Museum Ground Floor Gallery from November 22,
2011, to January 15, 2012.
The exhibition is made possible by the generous
support of Caltex, Anvil Publishing, Lampara Books,
Adarna House, Vgrafiks, Boysen, Oishi, K-Zone,
Frameline Art Gallery, Flash Media, The Chocolate
Kiss Café, and The Orange Segment.
Jose T. Joya (1931–1995) was one of the leading
Filipino masters in Philippine abstraction. His
early works showed the assimilation of Western
art, notably abstract expressionism or action
painting. Large canvases of vigorous, gestural
brushwork, tactile surface textures, and highly
prismatic compositions developed into a distinct
visual vocabulary and individual style that defined
and described Philippine abstract art at the
32nd Venice Biennale in 1964 and for several
generations of Filipino artists.
For more information, call 757 7117 to 21
local 29 or 35, or e-mail museum_inquiry@
ayalamuseum.org
Virgin of Peñafrancia
Oil on canvas
1966
(From left) Romulo Olazo, Rachy
Cuna, Josie Joya-Baldovino, Hetty
Que, Ambeth Ocampo, and
Paulino Que before one of Joya’s
artworks
For more information, call 757 7117 to 21 or e-mail
museum_inquiry@ayalamuseum.org
The Editorial Team
Publisher Victoria Garchitorena
Editor-in-Chief Maritoni Ortigas
Editorial Consultant Emi de Lara
Managing Editor Paul de Guzman
Assistant Editor Janella Cacdac-Siena
Graphic Designer Alezza Buenviaje
Advertising Manager Ciela Cayton
Photographer Jaime Martinez
Digital Imagist Jose Reginald Juanico
Correspondents
Ayala Corporation Janella Cacdac-Siena
Ayala Land, Inc. Suzette Naval, Christine
Lim-Siruelo, Rommel Santiago
Bank of the Philippine Islands Reena Dungca
Globe Telecom EJ Francisco
Manila Water Company Ranny Habaluyas,
Alberto Ramirez
Integrated Micro-Electronics, Inc. Fred Blancas
Ayala Foundation, Inc. Paul de Guzman
Ayala Automotive Group Monina Macavinta
Timezone Nedz Manangan
Editorial Office
Filipinas Heritage Library
Makati Avenue, Ayala Triangle
Makati City 1224, Philippines
Telephone (632) 892 1801 local 14
Facsimile (632) 892 1810
Email AyalaNow@filipinaslibrary.org.ph
URL www.ayala.com.ph/press_room_ayala_now.php
24
May the abundance of light, color, and vision bless
our families and homes this Christmas season.
— Jaime Zobel de Ayala
Christmas cheer at the Zobel tunnel
A tunnel may be the last place one goes to in
search of Christmas cheer, but that is exactly what
that stretch of asphalt leading from Makati Avenue
into the heart of Ayala Center’s Greenbelt complex
hopes to offer.
Larger-than-life images of people, wearing intricate
traditional Filipino costumes, celebrating the season
the way only Filipinos can; vibrant Christmas colors
splashed across the walls; and glittering Christmas
lanterns that are sure to put a smile on the faces
of motorists and pedestrians—these are the
things that greet anybody who passes through the
Greenbelt tunnel.
Called the “Zobel tunnel” by the jeepney drivers who
have no doubt passed through its lighted confines
many times over the years, the tunnel has actually
become a destination in itself. Mall goers and
pedestrians stop at the curb to admire its walls and,
inevitably, have their photos taken in front of it.
beauty of nature as captured by the lens of the Zobel
patriarch. First came a rendering of leaves, butterflies
in mid-flight, then scenes of summer on the beaches
of Mindoro.
The tunnel has become almost a personal gallery
(though he hesitates to call it so) for Ayala
Corporation Chairman Emeritus Jaime Zobel de
Ayala. Shunning air-conditioned, sterile indoor
confines, Zobel has chosen to share his creations
with the world at large through the highly
traversed artery.
Said JZA: “It all started years back when I kept
passing by a rather dull, gray tunnel in Makati, which
busy cars used to traverse, going from one mall to
another. Since then, the tunnel has sort of taken a
life of its own ... a venue which, hopefully, cheers up
the passersby. Nothing more, nothing less.“
Zobel’s tunnel art is an innovative way to bring
art closer to the public—and people need not even
disembark from their vehicles.
This year, the tunnel has become a large-scale
greeting card for everyone who passes through—
proving that one can find simple joys and cheer in
some of the most unexpected places.
Through the years, the Greenbelt tunnel that now
informally bears Zobel’s name has showcased the

FZA addresses Family Business Network Asia

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