The official publication of the Ayala group of companies Volume 16, Number 4, July-August 2012
inside
2
Ayala posts 23-percent rise in first-half profits
3 ALI, NHA launch P65 billion Vertis North
10 Manila Water at 15: Improving People’s Lives
20 Ayala group organizes relief efforts for victims of monsoon rains
Ayala Land wins bid for
74-hectare FTI complex
Ayala to invest $1 billion in
infrastructure and power
In an effort to raise funds for major infrastructure and power sector
projects, Ayala Corporation recently completed the placement of
15 million common shares. The sale of these shares, priced at
P430 each, reached P6.45 billion.
Map shows the location of the FTI property to be developed by ALI
Ayala Land Inc. (ALI) won the bid for the government-owned, 74-hectare
Food Terminal Inc. (FTI) on August 14. The FTI property is one of the
government’s largest remaining tracts of land in Metro Manila that is ready
for immediate development.
ALI’s bid topped the bids of Robinsons Land Corp. (P14.666 billion) and
Empire East Land Holdings Inc. (P11.248 billion). ALI’s bid of P24.331 billion
was more than twice the P10.2-billion floor price the government had set for
the property.
continued on p. 7
BPI celebrates 100 years
in Zamboanga
Ayala is eyeing investments of up to $1 billion in the transport infrastructure
and power-generation sectors over the next five years. It seeks to build a
portfolio of power-generation assets, as well as toll road, rail, and airport
projects, through the government’s public–private partnership (PPP)
program. Ayala’s most recent infrastructure project under the PPP program
was the Daang Hari–South Luzon Expressway Connector Road.
Among the PPP projects that Ayala is considering investing in are the Ninoy
Aquino International Airport (NAIA) Expressway, the Cavite–Laguna (CALA)
Expressway, and the Light Rail Transit (LRT) Line 1, its extension, operation,
and management. To this end, Ayala recently partnered with Metro Pacific
Investments Corporation to jointly pursue light-rail projects within Metro
Manila. Ayala also expressed interest in developing airports such as the
Mactan Cebu International Airport.
continued on p. 7
ALI raises P13.6 billion
from equity placement
FZA (right) and Msgr.
Crisologo Manongas crown
the statue of Nuestra Señora
del Pilar in Zamboanga City
Key officials from the Bank of the Philippine Islands (BPI), Ayala
Corporation, the National Historical Commission of the Philippines
(NHCP), and the city government led the inauguration of the BPI
Museum Zamboanga City last August 17. The opening of the museum
marked BPI’s 161st anniversary of BPI in Zamboanga City.
continued on p. 9
Ayala NowJuly-August2012.indd 1
Ayala Land Inc. (ALI), the country’s biggest listed property firm, raised
P13.6 billion from one of the largest overnight placements in the country
and the largest by a property company in Southeast Asia since 2005. A
bell-ringing ceremony at the Philippine Stock Exchange (PSE) on July 20
marked the landmark capital-raising activity.
Present at the PSE event were (from left) ALI Treasurer Augusto Bengzon, ALI
Chief Finance Officer Jaime Ysmael, ALI President and CEO Antonino Aquino, ALI
Chairman Fernando Zobel de Ayala, PSE Chairman Jose Pardo, PSE directors
Eusebio Tanco and Alejandro Yu, and PSE Chief Operating Officer Roel Refran.
9/11/12 10:22:02 AM
The official publication of the Ayala group of companies Volume 16, Number 4, July-August 2012
Ayala posts 23-percent rise in first-half profits
Ayala Corporation’s consolidated net income in the first half of the year
reached P6.1 billion, 23-percent higher than in the same period last year.
Core net income, however, was even higher at P6.3 billion or a 35-percent
growth from a year ago. This excludes the impact of the accelerated
depreciation of Globe Telecom as a result of its network modernization
program and the revaluation gains realized at AG Holdings in the first half
of last year.
Higher profits were driven by the strong equity earnings from Ayala’s core
businesses. Substantially higher equity earnings from Ayala Land Inc., Bank
of the Philippine Islands, and the Manila Water Company cushioned the slight
decline in equity earnings from Globe. Equity earnings of core and noncore
businesses reached P7.7 billion in the first semester, 24-percent higher than the
P6.2 billion achieved in the same period last year.
Ayala President and CEO Fernando Zobel
de Ayala said: “We are encouraged
by the strong trajectory of our core
businesses sustained through the
first half of this year. The performance
reflects the robust domestic demand
and the fundamental strength of the
economy. We envision our products and
services to continue to tap this growing
demand as we expand to new market
segments and develop a more pervasive
presence across the country.”
(in million Pesos)
Real Estate
Ayala Land sustained its high growth
with net income up 28 percent year-onyear to P4.3 billion. Revenues grew by
18 percent to P25 billion with its property
development business contributing the
bulk of P15.3 billion, up 24 percent yearon-year. Revenues from its commercial
leasing business grew by 21 percent to
P4.2 billion. Ayala Land’s construction and property management business also
registered high growth of 47 percent to P9.4 billion due to brisk residential, office,
and mall projects. Revenues from its hotels and resorts business also rose by
15 percent to P1.3 billion. Revenue growth outpaced the increase in expenses,
resulting in margin improvements across the board. Ayala Land’s performance
has tracked ahead of targets it originally set in its “5–10–15” plan. It continues
to build sources of long-term growth as it replicates its mixed-use community–
development platform across cities in Mega Manila and as it recreates its
innovative township developments in other provinces.
Banking
The Bank of the Philippine Islands’ (BPI) net income reached P9.4 billion in the
first half of the year, 52-percent higher than the P6.2 billion of the same period
last year. This was driven by the 24-percent rise in revenues as net interest
income rose by 9 percent, while non-interest income surged by 51 percent.
Net-interest income improved as a result of an increase in average asset base
and a 14 basis-point improvement in net interest spread. Non-interest income
was boosted by trading gains realized in the first quarter of the year as the bank
sold down its securities inventory at that time. Total net loan portfolio recorded a
growth of 17 percent. Middle market and SME segments grew by
19 percent, while the top corporate segment increased by 15 percent. Consumer
lending increased by 17 percent. Despite the double-digit growth in loans, asset
quality continued to improve with net 30-day NPL ratio down to 1.4 percent.
With operating expenses growing at a slower rate, BPI’s cost-to-income ratio
improved. BPI’s first semester net income performance translates to a return on
equity of 21 percent.
Telecom
Globe Telecom’s strong momentum was sustained through the first half of the
year. Core net income grew by 2 percent to P5.7 billion. However, considering the
increase in operating expenses and the impact of the accelerated depreciation
Ayala NowJuly-August2012.indd 2
arising from its network modernization program, reported net income declined by
10 percent to P4.9 billion. Top-line growth remained strong with service revenues
reaching an all-time high of P40.8 billion, 6-percent higher than the same period
last year. This was driven by record mobile revenues, which rose by 6 percent to
P33.3 billion. Postpaid revenues, which now account for a third of revenues, rose
by 21 percent to nearly P1.9 billion, with prepaid revenues steady. Broadband
revenues increased by 13 percent to P4.1 billion driven by a 22-percent expansion
in subscriber base. Globe’s total mobile subscriber base expanded by 12 percent
during the period to 31.7 million, while broadband subscriptions grew by
22 percent with quarterly gross additions hitting an all-time high. Globe’s network
modernization program is on track to hit its yearend target.
Water
Manila Water Company recorded a net income of P2.6 billion in the first half of the
year, a 31-percent increase year-on-year. Total revenues rose by P7.2 billion, 24percent higher year-on-year as a result
of the timely implementation of annual
tariff increase and strong billed volume
growth in the east zone. The new
businesses also contributed positively,
accounting for 5 percent of revenues and
net income. Total billed water volume
(in million Pesos)
grew by 36 percent due to strong sales
growth among all operating units with
the acquisition of Clark Water and Thu
Duc Water in the fourth quarter of 2011.
Laguna Water, Boracay Water, and Clark
Water all registered double-digit growth in
revenues and net income. Manila Water
recently completed the acquisition of a
47.35-percent stake in Kenh Dong Water
Supply Joint Stock Company in Vietnam.
Kenh Dong is expected to start operations
within the second half of 2012.
Electronics
Integrated Micro-Electronics Inc. recorded an improvement in
earnings in the first half of the year with net income up 173 percent to US$3.1
million. Revenues grew by 24 percent to US$326 million despite the weakness
in developed economies in Europe and the US as well as a slowdown in China.
Revenues from China and Singapore operations were 6-percent lower than last
year’s levels due to reduced volumes in a telecommunications infrastructure
program and a delay in the production of models for an industrial electronics
program. On the other hand, revenues from Philippine operations grew by 3
percent year-on-year. IMI recognized revenues this year from its new subsidiaries
in Europe and Mexico, which together contributed US$86 million in the first six
months of the year. Lower operating expenses resulted in a 22-percent increase
in EBITDA and consequently an improvement in IMI’s bottom line.
Business process outsourcing
LiveIt achieved continued growth and margin improvement in the first half of
2012. Share of revenues reached US$166 million, up 9 percent year-on-year,
while share of EBITDA reached US$13.1 million, up 26 percent due primarily to
improved profitability at Stream and Affinity Express. As a result, LiveIt reduced
its net loss, which was primarily due to acquisition-related charges and nonoperating items such as those related to taking Stream private in the second
quarter. Further improvement is expected in the second half of 2012 due to
seasonality and the ramp-up of recent client wins.
Ayala parent company ended the period with gross debt of P49 billion and cash
of P23 billion. After it issued a P10-billion 15-year corporate bond last May,
which was the longest tenor issued by a publicly listed corporate, the company
raised another P6.45 billion in cash as it placed 15 million common shares it
held in treasury. The company had accumulated treasury shares under a buyback program instituted several years ago at the time the market and its shares
were trading substantially below current levels. The bond issue and the share
placement were part of the company’s efforts to gear up for planned significant
size investments. Ayala is eyeing investments of around US$1 billion over the
next five years in the power and transport infrastructure sectors.
9/11/12 10:22:02 AM
ALI, NHA launch P65-B Vertis North
Land is investing a total of P65 billion to build Vertis North in Quezon City, to
help establish the premier central business district north of Metro Manila.”
Vertis North is strategically located at the convergence point of the Metro
Rail Transit 3 and three major road arteries—Epifanio de los Santos Avenue
(EDSA), Mindanao Avenue, and North Avenue. It also serves as a gateway
to the north through the North Luzon Expressway (NLEX). To be developed
over a 10-year period, Vertis North will feature office buildings, retail spaces,
residential developments, a hotel, and landscaped gardens and parks.
From left: Cora Dizon, head of ALI Commercial Business Development and Strategic Planning;
Rowena Tomeldan, head of ALI Commercial Business Operations and Support Services; Meean
Dy, ALI vice president and head of Strategic Landbank Management Group; Domingo Erfe, Sta.
Rita de Cascia Parish Church; Tony Aquino, ALI president; Herbert Bautista, mayor of Quezon
City; Chito Cruz, general manager of National Housing Authority; Fermin Bilaos, barangay
captain; and Dan Abando, president of Makati Development Corporation
For the first phase of the development, ALI is investing P12 billion to build
retail and office spaces (particularly for the business process outsourcing
industry) as well as a hotel. Covering a 7-hectare land area, Vertis North
phase 1 is scheduled for completion within three to four years. Once
completed, the project’s first phase will offer a gross floor area of 220,000
square meters.
Aside from building a modern business district, ALI plans for Vertis North to
become a sustainable and environmentally sound development. Vertis North
will also feature the latest in storm-water management technology.
Aquino exlained: “In Vertis North, as in all other Ayala Land developments, we
make sure that we do not contribute to the problem further. We will do this by
actively reducing the occurrence of flooding.”
A map showing the location of Vertis North
Vertis North follows the public–private partnership (PPP) model. ALI has a
72-percent stake in the joint venture, while the NHA has a 28-percent stake.
The NHA expects that its investment in the project will earn it approximately
P11 billion, which will boost the national government’s socialized housing
projects.
An integrated mixed-use urban development will soon rise on a 29-hectare
property in Quezon City. Dubbed Vertis North, the P65-billion development is
envisioned to become Quezon City’s central business district and the gateway to
the north of the metropolis. Vertis North, a partnership project between Ayala Land
Inc. (ALI) and the National Housing Authority (NHA), was officially launched on
July 5.
Present at the launch were Quezon City Mayor Herbert Bautista, ALI President
Antonino Aquino, NHA General Manager Chito Cruz, and other Quezon City, ALI,
and NHA officials.
“Quezon City is fast becoming a center of gravity for economic developments as
it works to be at par with international business standards,” said Aquino. “Ayala
An artist’s rendition of the development plan for Vertis North. The first
phase is scheduled for completion within three to four years
PNoy inaugurates P5.3-B MWSS water improvement project
President Benigno
Aquino III (leftmost),
DPWH Undersecretary
Rogelio Singson,
(second from left),
MWSS Administrator
Gerardo Esquivel
(third from left), Ayala
President Fernando
Zobel de Ayala (fourth
from left), and other
project partners and
stakeholders at the
inauguration
President Benigno Aquino III led the inauguration of the Metropolitan Waterworks
Sewerage System’s (MWSS) Angat Water Utilization and Aqueduct Improvement
Project’s (AWUAIP) second phase. The project is a critical component of the
MWSS’s Water Security Legacy Program, which seeks to ensure adequate and
uninterrupted water supply for Metro Manila.
The AWUAIP was funded through the Preferential Buyer’s Credit of China ExportImport Bank. The loan is to be paid through concession fees coming from the
government agency’s two concessionaires, Manila Water Company for the east
zone and Maynilad Water Services for the west zone.
Ayala NowJuly-August2012.indd 3
The P5.3-billion aqueduct improvement project involves the construction of
an additional 9.9-km section for Aqueduct 6, the rehabilitation of a 5.5-km
segment of Aqueduct 5, and the building of interconnection facilities to ensure
the safety and integrity of raw water transfer from the Angat Dam to the La
Mesa Dam and the treatment plants in Balara.
“With this project, the MWSS reaffirms its commitment to improving the
water services for the 15 million residents of Metro Manila, maintaining and
optimizing the quantity of raw water conveyed from the Angat Dam to the
water treatment plants through the Ipo Dam–Bicti–La Mesa portal systems.”
MWSS Administrator Gerardo Esquivel said.
He also mentioned that the project was completed eight months ahead of the
scheduled original completion date of May 2013, through efficient contract
management and improved construction methodology.
“This is just one of the many projects that the MWSS will be undertaking as
part of our Water Security Legacy Program not only to ensure adequate supply
to meet Metro Manila’s current needs but more importantly, to ascertain the
sustainability of water supply for generations to come,” added Esquivel.
9/11/12 10:22:09 AM
The official publication of the Ayala group of companies Volume 16, Number 4, July-August 2012
Globe tops out new headquarters
Present at the topping-out ceremony was Globe President and CEO
Ernest Cu, as well as other Globe top executives and other members
of the management team. Also in attendance were members of the
Ayala Land Inc. (ALI) project management group, led by Business
Development and Strategic Planning Commercial Business Group
Head Cora Dizon.
“We are very excited to move into our new headquarters,“ said Cu.
“The GTHQ vision team meticulously looked at every detail, so that
this building will embody the principles, culture, and dynamism of
Globe Telecom.”
From left: Jojo Tolentino, president of AIDEA Philippines; Renato Jiao, head of
Globe Human Resources; Albert de Larrazabal, CFO of Globe; Ernest Cu, president
and CEO of Globe; Cora Dizon, head of ALI Business Development and Strategic
Planning Commercial Business Group; Danny Tamayo, chairman of DDT Konstract;
Ian Campbell, president of IACAI; Darren Winlaw of Langon & Seah; and Gil Genio of
Visiton Team
The Globe Telecom Headquarters (GTHQ) in Bonifacio Global City
(BGC) was officially topped out on July 26, almost two years after the
project broke ground in 2010.
Meanwhile, Dizon said: “Without doubt, the completion of this
27-storey Globe Telecom Headquarters will further strengthen
Bonifacio Global City’s position as one of the country’s major
business districts. We at Ayala Land are proud to have been given
the opportunity to be part of this distinct development.”
Strategically located on 32nd Street, GTHQ will be home to more
than 3,000 Globe employees by the middle of 2013.
JAZA discusses Asian economic growth at ADB meeting
business outsourcing, has six electronics plants in China, which provide
products and services to the Chinese market.
“People sometimes think you set up a plant in China to build export growth. In
our case, it has been a tremendous boost because there has been a chance
to enter the China market for our electronics products, which traditionally were
based in Japan,” JAZA explained.
JAZA talks at the ADB meeting
Ayala Chairman and CEO Jaime Augusto Zobel de Ayala addressed the
Asian Development Bank’s 45th annual Board of Governors Meeting,
which was held in the Philippines last May. He spoke at Asian Financing
for Asian Growth—the Rise of Intraregional Capital Flows, a session
sponsored by the Australia and New Zealand Banking Group (ANZ)
Institutional.
JAZA stressed that although Asia has taken a long time to recover from the
financial crisis of 1997, the region has learned its lessons, and businesses in Asia
are now capitalizing on increased intraregional trade opportunities.
He also noted a shift in valuation structures across Asia, particularly in the
Philippines by saying there was no way one could get long-tenure peso-based
financing in the country 10 years ago. At that time financing projects as a
corporation was a dollar-based exercise. This limited Ayala’s ability to do large
projects, especially after the large devaluations that took place after 1997.
In contrast, JAZA estimated that 95 percent of Ayala’s financing is now peso
based. This improved the corporation’s capacity to take on large-scale
projects.
“Just recently, we issued a 15-year bond in peso terms. This has been most
unheard-of in a country like ours, and I am sure that this is representative of
what is happening in other parts of Asia,” he said.
JAZA expressed optimism about the opportunities for infrastructure
development in the country, especially because of the government’s efforts
toward encouraging the increase of public–private partnerships.
“What we are seeing again is the beginning of integration, with sharing and
reinvestment in the region among each other that, frankly, I have not seen in a
long time,” JAZA said. “I completely agree with the statement that investment
flows follow trade flows, and what we are seeing in this ecosystem in Asia now is
really quite phenomenal.”
He said: “It is a very exciting time when you have private companies in Asia
with stronger balance sheets, and the ability to finance themselves in local
currencies, beginning to enter the infrastructure space. I think it’s an area that
has great promise.”
During his talk, JAZA also cited China, which now accounts for more than half of
the Asian gross domestic product (GDP), as a significant driver in intraregional
trade and investment.
Finally, JAZA discussed how the expansion of intraregional trade has led
to an increase in population movements across the Asian region. While
this phenomenon has been underestimated, he stressed its importance for
investment and tourism reasons.
He said: “The center of gravity that China has created as a manufacturing base
has fundamentally changed the dynamics of the way trade flows have begun to
move. Many countries in Asia have become support mechanisms in one way or
another, either through commodities or their own manufacturing concerns, for
Asia’s manufacturing needs has been driving China.”
“We are beginning to see large Korean communities beginning to come and
make the Philippines their home … The market for Chinese tourism has just
exploded in a country like ours and we are very low on the development chain
as far as tourism is concerned, so that the whole fundamental shift is also
changing the nature of the ways funds are flowing,” JAZA said.
For its part, Ayala, a diversified multinational with investments in sectors from
retail, real estate, banking, telecommunications, water services, electronics, and
Ayala NowJuly-August2012.indd 4
9/11/12 10:22:10 AM
Manila Water now largest
foreign investor in
Vietnam’s water sector
Globe fast-tracks
network modernization
Globe Telecom, after launching its modernization program last
January 2012, has already modernized more than 30-percent of its
cell sites nationwide.
“We are fast-tracking certain areas to address strong consumer
demand and clamor for better services. Overall, we are on target with
the roll-out plan,” said Globe Chief Technical Adviser Robert Tan.
Manila Water President Gerardo
Ablaza Jr. (right) meets with Kenh
Dong Water Supply Joint Stock
Company officials to formalize
MWC’s investments in Vietnam
Globe customers in South Luzon, Compostela Valley, and the Davao
Gulf provinces, including Davao City, now enjoy the benefits of quick
call connections and fewer dropped calls, in addition to easier and
faster access to Globe UNLI offers. Moreover, Davao City and its
adjacent provinces are now fully equipped with newt-generation
mobile systems supporting high-speed data. The new technology can
bring speeds of up to 5 mbps.
The Manila Water Company (MWC) recently acquired 47.35-percent of
Vietnam’s Kenh Dong Water Supply Joint Stock Company, making it part owner
of the only existing pair of privately owned water treatment plants in Ho Chi
Minh City. MWC Chairman Fernando Zobel de Ayala and President Gerardo
Ablaza signed the ownership documents last July.
“Our goal is to have seamless change-outs of the network with as little
impact on customer experience as possible. The improvements in our
service quality will be felt by our customers in an increasing number of
areas across the country as the network upgrade progresses toward
completion,” Tan stressed.
“This investment primarily supports and complements the expansion of Manila Water
as it gradually builds its presence in Vietnam. At the same time, this also provides
strategic access to other related infrastructure opportunities, which may be of value to
the group,” FZA said.
Globe’s network modernization will also enhance its 3G footprint by
providing a more stable 3G signal for customers in addition to an
improved mobile browsing experience. Globe is using over 10,000 km
of fiber optic cable, which will increase both capacity and resiliency.
He also recognized that Vietnam is a high growth area in the region, and that there is
strong demand for infrastructure investments there. This may present the Ayala group
with more opportunities to establish its footprint across several sectors.
“Even as we roll out the modernization program for the network,
Globe continues to invest in existing infrastructure to better serve our
customers. We are, in fact, implementing measures to boost our 3G
signal, particularly in high-traffic areas including Makati City,” added
Tan.
MWC acquired 49 percent of Thu Duc Water BOO Corporation in December 2011.
In addition, MWC entered into its first venture in Vietnam by signing a five-year,
performance-based contract with Saigon Water Corporation, where the company was
tasked with reducing nonrevenue water in Ho Chi Minh City’s Zone One by the end of
the contract period. MWC already surpassed the target in 2011.
The Kenh Dong acquisition makes MWC the largest foreign investor in Vietnam’s water
sector. The company’s entry is expected to benefit the residents of Vietnam’s capital,
where water services reach only 50 percent of the total population.
Globe is also in the thick of a massive, multi-year modernization
program that aims to beef up digital subscriber line (DSL) and
landline services nationwide. To date, DSL services of Globe, known
as Tattoo@Home, have been beefed up in the National Capital
Region. DSL upgrades in Southern Luzon and the Visayas are already
underway. Globe expects that more of its subscribers will be able to
experience service improvements by the third quarter of 2012.
ALI completes North Point community center
“We are very excited about the growth that The District–North Point aims
to bring to the community here in Talisay City and the province of Negros
Occidental,” said Tumbocon.
“This development aims to complement Ayala Land’s residential
communities in the area, such as the Ayala North Point, Plantazionne,
and Asyana Verdana Homes, as well as our Avida and Amaia residential
villages.”
From left: Lacson family representative Francis Lacson, ALI Head of Commercial Business Operations
and Support Services Rowena Tomeldan, Talisay City Mayor Eric Saratan, Negros Occidental
Governor Alfredo Marañon Jr., ALI Senior Vice President Emilio Tumbocon, Talisay City Vice Mayor
Neil Lizares, and ALI Assistant Vice President Clavel Tongco
Ayala Land Inc. (ALI) officials led the topping-out ceremony for the company’s latest
project in Negros Occidental. The District–North Point is the main retail component
of ALI’s 200-hectare North Point mixed-use community development in Talisay City,
Negros Occidental.
ALI Senior Vice President and VisMin Group Head Emilio Tumbocon and Head of
Commercial Business Operations and Support Services Rowena Tomeldan led the
ceremony, with guests of honor Alfredo Marañon Jr., governor of Negros Occidental;
Eric Saratan, mayor of Talisay City; and Neil Lizares, Talisay City vice mayor.
Ayala NowJuly-August2012.indd 5
Governor Marañon, for his part, thanked ALI for its confidence in Negros
Occidental and for the investments the company is pouring into the
province.
“We are grateful to Ayala Land for believing in Negros Occidental and
contributing greatly to the business environment thereby ensuring a
progressive economy for the Negrenses,” said Marañon. “This kind of
[investment] is unheard of here and will surely change the landscape of
the province into one that is progressive and dynamic in this part of the
Philippines. This will make our economy jump!”
When completed, the 200-hectare North Point development will consist of
ALI’s full range of products with all four residential communities present, as
well as The District–North Point, BPO office buildings, and a hotel.
9/11/12 10:22:12 AM
The official publication of the Ayala group of companies Volume 16, Number 4, July-August 2012
Manila Water releases 2011 sustainability report,
inaugurates P490-million QC reservoir
labor practices, economic performance, and community involvement and
development.
MWC President and
CEO Gerardo Ablaza Jr.
leads the inauguration
of the N. Domingo
Reservoir
The Manila Water Company (MWC) recently released its 2011 Sustainability Report,
the first report for a Philippine company that complies with both the Global Reporting
Initiative (GRI) guidelines and the ISO 26000 guidelines on social responsibility.
“This groundbreaking report that captures our sustainable growth story and
shares heart-warming stories from our stakeholders and partners speaks about
our accomplishments with respect to the triple bottom line and our commitment to
corporate social responsibility and sustainability,” said MWC President and CEO
Gerardo Ablaza Jr.
MWC also completed the construction of the N. Domingo Reservoir in Barangay
Horseshoe, Quezon City. MWC officials led by Ablaza attended its inauguration,
together with representatives form the Quezon City government and Metropolitan
Waterworks and Sewerage System (MWSS).
The reservoir, which cost P490 million to construct, will benefit 107,000
households in Metro Manila’s east zone. Its capacity of 111 million liters will
ensure water reliability and improved water pressure in Quezon City’s Timog,
West Triangle, and Scout areas, as well as in San Juan, Mandaluyong, and
Makati.
“Manila Water will be investing heavily in more infrastructure projects in the
coming years as we continuously expand our services and make our operations
more efficient and more reliable,” said MWC Strategic Asset Management Group
Director Abelardo Basilio.
MWC’s report achieved Level A application and reports on all 85 indicators to its social,
environmental, and economic performance, based on the updated GRI G3.1 standards
on sustainability reporting. It also features 25 testimonials from stakeholders and
seven commentaries from a panel of sustainability experts, to validate its accuracy and
truthfulness.
Meanwhile, ISO 26000 standards provide guidance in recognizing social responsibility
and stakeholder identification and engagement based on indicators similar to
that of the GRI. These standards include organizational governance, environment,
The Manila Water 2011 sustainability
report is the first such report from a
Philippine company to follow both the
GRI and ISO 26000 guidelines
Globe launches Samsung Galaxy SIII at the Mind Museum
Globe Telecom launched the Samsung Galaxy S III through a night of fun and music at
the Mind Museum, Bonifacio Global City last July. Hundreds of tech-savvy gadget fans
flocked to the event for a chance to get their hands on Samsung’s latest smartphone.
Globe Head of Postpaid Martha Sazon, Head of Digital Media Glenn Estrella and
Samsung representative Coco Domingo led the evening’s press briefing and awarded
five media guests with free Samsung Galaxy S IIIs.
“We are excited by this partnership with Samsung as we launch their newest innovation
under our portfolio of postpaid plans,” Sazon said. “As the ‘number one’ in postpaid
and the expert in devices, Globe has the ‘number one’ offer for the Samsung Galaxy
S III as we have the lowest and most affordable offer for the device, a shorter lock-up
period of only 24 months, consumables that you can use whichever way you want, and
freebies of your choice.”
Samsung Electronics President
and CEO KC Park (left) and Globe
President and CEO Ernest Cu
present the Samsung Galaxy SIII
Supermodel Sarah Meier emceed the event. She introduced the night’s opening act,
professional magician and mentalist Erik Mana. His magic show was followed by a
dance performance from the Philippine All-Stars.
The brand ambassadors for Globe Samsung Galaxy S III were also introduced at the
event. These included TV host David Celdran, fashion and style icon Apples Aberin,
fashion blogger Ingrid Chua-Go, celebrity chef Sau del Rosario, and sports enthusiast
and TV personality Rovilson Fernandez.
Other celebrities such as Megan Young, Victor Aliwalas, Frencheska Parr, Andrew
Wolff, Pinoy Big Brother alumni Nene Tamayo and Chx Alcala, and Philippine Volcanoes
members Jake Letts, Kit Guerra, and Harry Morris, all joined the evening’s festivities.
To know more about the Samsung Galaxy S III, visit www.globe.com.ph/galaxys3
Ayala NowJuly-August2012.indd 6
Philippine Volcanoes team member
and television personality Andrew
Wolff
Globe Head of Communication
Channels Bunny Aguilar (left) with
actress Megan Young
9/11/12 10:22:18 AM
Ayala Land pioneers country’s first university town
center in UP Diliman
Held on June 18, the ceremony signaled the start of the development of the UP
Town Center, as well as the planned transfer of UPIS facilities within the main
campus. Present at the event were UP President Alfredo Pascual, ALI President
Antonino Aquino, Quezon City Councilor Allan Reyes, Task Force UP Head
Mark Sabalza, and other UP, ALI, and Quezon City officials.
The UP Town Center, which will occupy 7.4 hectares, is intended to be a mixeduse retail and development center. The three-phase development will offer a
mix of retail stores, offices, restaurants, and services that will directly address
the needs of students, workers, and residents.
From left: Vic Ahorro, project director of ALI; Joel Luna, head of ALI Innovation and Design
Group; Belen Gravides, chairman of Barangay UP Campus; Dominic Flores, chairman of
Barangay Pansol; Alfredo Pascual, president of UP; Tony Aquino, president of ALI; Allan
Reyes, councilor of Quezon City’s Third District; Dr. Elvira Zamora, vice president for
Development of UP; Cora Dizon; ALI head of Commercial Business Development and
Strategic Planning; Rowena Tomeldan, head of Commercial Business Operations and
Support Services; Manny Sabalza, head of Task Force UP, Quezon City; and Prospero de
Vera, vice president for Public Affairs of UP
Officials from the University of the Philippines and Ayala Land Inc. (ALI) led
the ground-breaking ceremony for the UP Town Center, which will soon
rise on the former site of the UP Integrated School (UPIS) along Katipunan
Avenue, Quezon City.
Ayala Land wins bid for
74-hectare FTI complex
continued from p.1
ALI will make an upfront payment of P19.465 billion within 60 business days,
and settle the remaining balance within a year.
Karen Singson, chief of the government’s Privatization Management
Office (PMO), was happy with the bidding results and the upfront cash the
government will be receiving soon. She stated that 60 percent of proceeds
will go to the Department of Agrarian Reform and 40 percent to the
Department of Agriculture.
ALI has plans to transform FTI into another business district and bring its
commercial and residential product lines into the development.
“The property will be the southern gateway into Metro Manila, similar to Vertis
North, our northern gateway development,” said ALI Chief Finance Officer
Jaime Ysmael. He also pointed out FTI’s proximity to three major toll roads:
the C5, South Luzon Expressway, and the Skyway.
“With these two developments, we are now well positioned to capitalize on
the development opportunities of these two growth centers, supplemented
by the government’s planned intermodal transport system. Just as we
envision Vertis North to be the first transit-oriented CBD in the north, FTI will
serve the same purpose for the south,” he explained.
The bid for the FTI complex is the second government-related deal ALI has
won within a 10-month period. In December 2011, the company won the
Daang Hari toll road concession through a P902 million bid, three times the
P370-million floor price the government set for the project.
FTI has a total size of 103 hectares. The government has allocated the
remaining 29 hectares for other purposes such as a 5-hectare integrated
bus terminal, whose construction will be handled by the Department and
Transportation and Communication and the Department of Public Works and
Highways.
Ayala NowJuly-August2012.indd 7
Central to the project is the “green spine,” which will be an ideal venue for
outdoor events and activities. It will feature an amphitheater, an outdoor activity
center, and a sculpture park, showcasing various installations and art pieces by
UP students and alumni.
The UP Town Center is envisioned to provide a perfect setting for academic
support activities and social interaction that would promote the close
collaboration between industry and the academe.
Development of the UP Town Center will go full blast once the UPIS facilities
have been completely transferred to the main campus.
Ayala to invest $1 billion in
infrastructure and power projects
continued from p.1
Meanwhile, Ayala will commit as much as $100 million of equity for its investments
in conventional and renewable power sources. This amount is equivalent to about
180 megawatts of gross generating capacity. In partnership with the Phinma group’s
Trans Asia Oil and Development Corporation, Ayala is building a 135-megawatt
circulating fluid bed (CFB) thermal plant in Calaca, Batangas. Ayala is also looking
into the second-phase expansion of the plant.
Recognizing the need for both base load capacity and alternative energy
sources, Ayala is building its portfolio of energy sources in solar, wind, and hydro
technologies. Investments in these technologies will be shaped, in part, by the
government’s soon-to-be implemented feed-in-tariffs. Moreover, the corporation
continues to pursue a pipeline of greenfield projects and acquisition opportunities
in the power sector.
Said Ayala President and COO Fernando Zobel de Ayala: “In the same manner
Ayala invested in the telecom and water sectors in the past, we believe the power
and infrastructure sectors are critical for the country’s growth and development. We
hope to be able to contribute in some measure to the development of these sectors
and at the same time create future sources of earnings and value for the group.”
While Ayala remains focused on the Philippines, it is also currently exploring
opportunities present in regional markets. It recently acquired a 10-percent stake
in Ho Chi Minh Infrastructure Investment Company (CII), a leader in Vietnam’s
infrastructure sector. CII holds toll road concession agreements such as the 15.7-km
expansion of the Ha Noi Highway, which connects the northeastern part of Ho Chi
Minh City to Bien Hoa, an industrial center located in southern Vietnam.
Ayala believes this investment provides access to other infrastructure opportunities
that may allow it to establish a presence across several sectors in Vietnam.
The corporation’s share price has risen by 46 percent year-to-date, with market
capitalization of over P260 billion.
9/11/12 10:22:19 AM
The official publication of the Ayala group of companies Volume 16, Number 4, July-August 2012
Manila Water wins G20 Global Challenge
affordable rates and accepting flexible payment methods, MWC
also runs corporate social responsibility programs. For example, its
landmark Tubig Para sa Barangay Program provides an uninterrupted
daily supply of safe and affordable drinking water to low-income
customers.
Also cited was MWC’s Lingap Program, which targets public
institutions in marginalized communities. The project has reached over
1.5 million people by installing washing facilities and drinking fountains
in schools, hospitals, jails, markets, and orphanages.
Manila Water Corporate Resource Group head Ruel Maranan (center) receives the
award for the G20 Challenge on Inclusive Business from representatives of the G20
and the International Finance Corporation
The Manila Water Company (MWC) recently won the G20 Global
Challenge on Inclusive Business Innovation, a global competition
managed by the International Finance Corporation for G20. The
International Finance Corporation, a member of the World Bank
Group, awarded 15 companies from among hundreds of nominees
around the world.
Ambassador Rogelio Granguillhome, executive secretary of the Mexican
Agency for International Development Cooperation and chair of the G20
Development Working Group, presented the awards at a ceremony in Los
Cabos, Mexico, where the G20 was holding its annual meeting.
MWC was recognized for its successful efforts in providing clean water
and sewerage services for more than 6 million people in 23 cities and
municipalities in Metro Manila’s east zone. In addition to charging
The world’s leading economies launched the G20 Challenge to rapidly
expand commercially viable businesses that serve large numbers
of low-income people constituting the base of the global economic
pyramid. Its goal is to identify, showcase, and support innovative
business models that can be replicated across developing countries.
“The winners demonstrate that commercially viable companies can
also provide economic opportunities for poor people—along with
better access to clean water, electricity, health care, education,
housing, phone services, and financial services,” said IFC Executive
Vice President and CEO Lars Thunell. “They provide impressive
models for others to follow.”
Together the 15 winners reach more than 40 million people living at the
base of the economic pyramid—as suppliers, distributors, retailers, or
customers—in more than 10 countries.
Other winners came from such countries as Brazil, Colombia, Ecuador,
Guatemala, India, Malawi, Mexico, Pakistan, and the United States of
America.
Social media ‘rock stars’ honored at Globe 2012 Tatt Awards
Other major winners also received a cash prize of P100,000 and a one-year
subscription each to Tattoo@Home. These included Cecile Van Straten (chuvaness.
com), Stylissimo award; Kimpoy Feliciano (twitter.com/kimpoyfeliciano), #ThoughtMover award; Jamvhille and Paolinne Michelle, a.k.a. JAMICH (youtube.com/
JAmichTV), Video Slinger award; and Ryan Vergara and Garovs Garrovillo of
Everywhere We Shoot (everywhereweshoot.com), The Visualizer award.
Globe President and CEO Ernest
Cu, 2012 Tatt Award The One winner
Bianca Gonzales, Globe Broadband
Business Consumer Group Head
Nikko Acosta, Globe Tattoo Nomadic
Head Dong Ronquillo
Globe Telecom, through Globe Tattoo, the country’s number one
Broadband Internet provider, recently awarded the winners of its second
annual Tatt Awards during a night of glam rock, fashion, food, and
music. Columnist Tim Yap and YouTube sensation Petra Mahalimuyak
hosted the event, which also celebrated World Social Media Day.
The Advocate award went to the Philippine Animal Welfare Society (facebook.com/
pawsphilippines), the Indie Rocker award to Gloc-9 (facebook.com/glocdash9), The
Explorer award to Bogart the Explorer (facebook.com/bogarttheexplorer), the Game
Changer award to Jinoe Gavan (takbo.ph), and the Tech Junkie award to Jason de
Villa (technoodling.net).
There were 1,050 nominations this year, but only 50 made it to the finals. Winners
were chosen through online voting and by a panel of Tatt Council members.
“We are very pleased with the incredible response to this year’s Tatt Awards
as a kickoff to the World Social Media Day celebration,” said Dong Ronquillo,
head for Globe Tattoo Nomadic Broadband Business. “The digital sphere has
evolved tremendously and Tattoo will always be supportive of the remarkable
achievements of our digital rock stars.”
Leading this year’s winners is TV host-writer Bianca Gonzalez (iamsuperbianca.
com). Her online popularity and influence, bolstered by her blog and Twitter
account, earned her the “The One” award, which came with a cash prize of
P100,000, a one-year subscription to Tattoo@Home and Tattoo Superstick, and
a BlackBerry Playbook and BlackBerry phone bundle.
Ayala NowJuly-August2012.indd 8
2012 Globe Tatt Award winners, Globe executives, and celebrity endorsers
9/11/12 10:22:23 AM
Globe opens first ‘pop-up store’
carries the signature retail store design similar to
the concept store which Globe pioneered,” said
Globe President Ernest Cu.
He also mentioned that the mobile store could
be transported nationwide, allowing more areas
to experience Globe products and services.
Globe President Ernest Cu (left) and CFO Albert
de Larrazabal at the pop-up store in Rockwell
Globe Telecom recently launched its first
“pop-up store,” a transportable and deployable
version of the Globe Store.
“The pop-up store functions like a Globe concept
store, which offers customers the same shopping
experience but can be installed anywhere. It also
BPI celebrates
100 years in
Zamboanga
continued from p.1
The sleekly designed pop-up store has features
that allow customers to explore and try the latest
handsets, devices, and gadgets offered by
Globe. Available at the store are a wide range
of the latest smartphones and gadgets that can
be had on Globe’s prepaid plans. The store also
carries Tattoo plans and prepaid kits.
In addition, the pop-up store has a staff of
friendly and accommodating retail specialists to
improve the customer experience of subscribers
and visitors alike.
First Filipino American Youth
Leadership Program held in Manila
From left: Zamboanga City representative Maria Isabelle
Climaco-Salazar, BPI President Aurelio Montinola III,
FZA, and Zamboanga City Mayor Celso Lobregat at the
unveiling of the historical marker
An important part of the celebration was the
NHCP’s unveiling of the historical marker in front
of the Barrios House, the first floor of which has
been BPI’s main branch in Zamboanga City since
1912.
Although the building has undergone numerous
renovations over the years, especially after the
massive bombings toward the end of the Second
World War, BPI Zamboanga City retains on a large
scale the architectural elements of late Spanish
colonial plantation and merchant houses.
The FAYLP delegates join Ambassador Jose Cuisia Jr. (eighth from left), Victoria
Cuisia (ninth from left), and FZA (tenth from left) at the Ayala Museum. Also in photo
are Ayala Managing Director John Philip Orbeta (leftmost), AFI President Maria
Lourdes Heras-de Leon (seventh from left), and Makati Business Club Executive
Director Peter Perfecto (second from left)
The first Filipino American Youth Leadership
Program (FAYLP), spearheaded by the Embassy
of the Philippines in Washington, D.C., was held
in Manila on July 13 to 16. Ayala Foundation and
Ayala Corporation served as the event’s Philippine
organizers, in cooperation with Chevron, the Makati
Business Club, Philam Life, Phinma Foundation, and
The Filipino Channel.
FAYLP was initiated by Philippine Ambassador
to the United States Jose Cuisia Jr. and his wife
Victoria Cuisia, as part of their advocacy for youth
engagement.
Philippine Ambassador
to the United States Jose
Cuisia Jr.
Cendana, executive director for the Asian Pacific
American Labor Alliance; Alexander de Ocampo,
senior program and project manager for Saban
Family Foundation and Saban Capital Group
Corporate Affairs; Angela Lagdameo, senior analyst
at the Office of Maryland Governor Martin O’Malley;
Francine Maigue, artistic director and public relations
manager of Mystic Entertainment; Steven Raga,
graduate student and founder of Pilipino American
Unity for Progress; Michael Vea, cofounder of
Knowledge is Power Infinity Charter School; and
Katrina Zulueta, deputy chief of staff at the Maui
County Mayor’s Office.
Out of nearly 400 candidates, only 10 young Filipino
Americans were chosen as delegates for FAYLP. The
delegates were chosen based on their scholastic
achievement, leadership skills, active involvement
in school or civic organizations, and commitment to
helping their communities and the Philippines.
Prior to the official opening of the FAYLP, the
delegates also participated in the 7th Ambassadors,
Consuls General, and Tourism Directors (ACGTD)
Tour on July 11 to 13. The participants also had
scheduled meetings with captains of industry,
young officials in government, traditional and social
entrepreneurs, and other prominent Filipinos.
The FAYLP delegates were Melissa Apuya, legislative
aide for California State legislator Leland Yee;
Louella Rose Cabalona, senior project manager for
Walgreen Company; Cesario Calanoc III, president
of ActiVentures Philippine Dive Tours; Gregory
The Philippine organizing team was led by AFI
President Maria Lourdes Heras-de Leon and AFI
managers Chiara Cruza and Joseph Anthony
Quesada.
Ayala NowJuly-August2012.indd 9
The bank continues to operate at the ground level,
while the second floor has been converted into
a “lifestyle museum.” BPI Museum Zamboanga
depicts the life and culture of Zamboangueños
at the end of the Spanish colonial period and the
beginning of the American period. Among the
attractions are period furniture, weapons from
Moro warriors, traditional musical instruments,
and other artifacts and memorabilia. One room
is dedicated to Gen. John Jacob Pershing, who
brought BPI to Zamboanga. The Managers’ Room,
meanwhile, used to be the private bedroom of BPI
bank managers.
Present at the launch of the museum and the
unveiling of the historical marker were Ayala
President Fernando Zobel de Ayala, BPI
President Aurelio Montinola III, Zamboanga City
representative Maria Isabelle Climaco-Salazar, and
Zamboanga City Mayor Celso Lobregat.
Another highlight of the celebrations was the
ceremonial turnover of the gold crown of the
Nuestra Señora del Pilar to the Archdiocese of
Zamboanga. The jewel-encrusted gold crown
was entrusted to BPI Zamboanga for safekeeping
in 1960. Virtually forgotten for over 50 years, the
crown was found in a sealed box in the bank’s
vault.
9/11/12 10:22:27 AM
10
The official publication of the Ayala group of companies Volume 16, Number 4, July-August 2012
Manila Water at 15: Improving Peoples’ Lives
The story of the Manila Water Company of the past 15 years clearly demonstrates its
commitment to nature, the nation, and to its own people. Even as it undertakes an ambitious
expansion program across the region, Manila Water remains faithful to serving the Filipino
The Manila Water Company’s (MWC) first 15
years exemplifies how a business can both
thrive and carry over the impact of its success
to the communities it serves. MWC has more
than just improved the lives of Filipinos; it has
also contributed to long-term environmental
sustainability in the communities it serves.
Over the years, since it won the concession
agreement for the east zone of Metro Manila,
Manila Water has transformed itself into one
of the most highly respected companies in the
country. Its manner of doing business has also
become the standard against which similar
ventures are judged.
“One of the things we are most proud of is the
fact that in the last 15 years, we have been able
to provide service to twice as many people than
when we began. We have gone from 3 million to a
little over 6 million today, but most importantly, of
the 3 million that have been added to our service,
1.7 million of them come from poor communities,”
said MWC President and CEO Gerardo Ablaza Jr.
Indeed, MWC has always acted on its desire to
provide water services for as many people as
possible, especially the poor. Added Ablaza:
“Each and every Filipino deserves clean water,
deserves to have it in good supply 24/7.”
Manila Water’s journey over the past 15 years
was by no means easy. Sacrifice, hard work,
and difficult decision-making had to be made
every step of the way, under the leadership of
Ayala Chairman Jaime Augusto Zobel de Ayala
and Manila Water Chaiman Fernando Zobel de
Ayala, as well as Ablaza and former Manila Water
presidents: Filemon Berba Jr., Antonino Aquino,
and Rene Almendras.
Ayala NowJuly-August2012.indd 10
From water shortage to 24/7 water
In 1997, Ayala Corporation took part in the bidding
for what was then known as “the largest water
privatization in the world.” The service area of the
Metropolitan Waterworks and Sewerage System
(MWSS) was divided into two concession zones, the
east and the west. Although the Ayala group bid for
both the east and west zones, it eventually won the
contract for the east zone of Metro Manila.
Filemon Berba Jr., Manila Water launched the 5S
Program, a housekeeping program that promoted
sorting, systematizing, sweeping, standardizing,
and self-discipline to improve productivity and
reduce waste in the workplace. More importantly, the
company implemented its Upskilling Program aimed
at developing the skills and knowledge of company
personnel.
Prior to the awarding of the concession contracts,
water services left a lot to be desired. There was
severe water shortage all over Metro Manila; in fact
the Asian Development Bank estimated water losses
(nonrevenue water) in the country to be about 60
percent. In the east zone of Metro Manila, which
covered 23 cities and municipalities, only about
58 percent of the population had access to piped
water, while barely one-fourth had 24-hour water
supply. Most residents had to purchase water from
vendors. This cost them around P150 per cubic
meter, more than 50 times the price for piped water
at that time.
Recalled Berba: “We were not supposed to survive,
according to observers from the outside, but we
succeeded with a minimum of outsiders. The people
who made Manila Water succeed were the same
people who were with the MWSS.”
Antonino Aquino, who took over as President of
Manila Water in 1999, agreed with Berba. He said:
“I would credit the culture, the people ... and the
innovative approaches that they employed which
enabled us to deliver the goods at the end of the
day.”
To make things worse, the Asian financial crisis and
the El Niño phenomenon hit the country in 1997.
This made the already difficult transition period
even more challenging. Nevertheless, armed with
a new philosophy and a rejuvenated workforce,
the company underwent a cultural transformation
and instituted a development program in order to
maximize its potential.
From the onset, Manila Water Chairman Fernando
Zobel de Ayala stressed that the company “had a
mission to fulfill, and not a business to run.” He said
the company should “work diligently to provide highquality water and sewerage services, and improved
customer services” for the estimated 4 million
residents in the east zone.
Manila Water invested heavily in the development
of its most important resource—its people. Under
Under Aquino, MWC implemented the Territory
Management Program, which divided the
concession area into two demand zones or
territories. One territory representative took charge
of customer and business concerns in each
zone. Meanwhile, territory controllers handled
operations-related concerns. This program helped
MWC establish closer relations with its customers
and maximize business opportunities through
revenue increase, nonrevenue-water monitoring
and reduction, key account management, and new
development services.
Rene Almendras, Manila Water’s third president,
recalled a conversation he had with one visitor, who
asked him: “What is it about your company? What
is it about your people? Why do you see so much?”
to which Almendras answered: “Why do we see so
much? I don’t know what to call it…. I’ll tell you what
to call it. It’s called passion.” 9/11/12 10:22:39 AM
0
Engaging the community while strengthening core business
After establishing a culture of excellence, Manila Water
These positive developments within the organization
shifted its attention to the business at hand, in order
also served as a springboard for greater improvements
to sustain the standards it had set. In 2002, company
in its service areas. The company’s expansion and
rehabilitation projects went full blast with the arrival
revenues exceeded the P2 billion mark for the first
of loan facilities, due to increasing confidence in the
time. In addition, there were over a million new MWC
company’s undertakings and management soundness.
customers that year, with 83 percent of them enjoying
As its situation improved, the company was able
24-hour water services.
to focus its attention on its
customers through the “We
To grow its business further and
care” brand of service. Revised
achieve sustainability, MWC began
Manila Water understands that it
customer service standards
expanding in 2003. This expansion
required the strict adherence
was funded through capital from
needs to play a significant role in
to a fixed timeframe for every
various creditors who opened their
ensuring the availability of water
service the company rendered.
credit lines to the company. Thus,
for future generations, by making
the company’s key performance
The ability to respond quickly to
indicators such as billed volume,
sure that sustainable development
customer needs, together with
nonrevenue water, and service
programs become a way
the Tubig Para sa Barangay
coverage continuously showed
of life for the company.
(TPSB) program, have become
marked improvement.
two of the company’s most
It was in 2004 when the
enduring symbols of customer
company’s system losses
service excellence.
dropped below 50 percent for the
first time. System losses were at 49 percent at the end
Launched in 1998, TPSB sought to provide low-income
of the first quarter and were at 43 percent by year’s end.
communities with a 24-hour supply of clean, safe-toBilled volume also increased to more than 800 million
drink, and affordable water, in addition to improved
health and sanitation conditions. It has since become
liters per day, double the daily amount back in 1997.
the company’s flagship program, benefiting more than
1.7 million Filipinos to date.
The following year, Manila Water’s nonrevenue water
further decreased to below 40 percent. Meanwhile, the
But more than just ensuring access to water services
number of TPSB beneficiaries increased to 800,000, and
for the poor, TPSB is also committed to keeping these
the percentage of customers enjoying 24-hour water
services highly affordable. Carmen Gramonte, a resident service hit the 95 percent mark.
of barangay De la Paz, Antipolo City, said: “Before, I
By 2006, systems losses hit a historic low of 30 percent,
budgeted around P1,000 monthly for water since we
while billed volume reached 900 million liters per day,
consumed around seven drums that cost P30 to P35
the percentage of customers with 24-hour water service
each per week. Now that I am connected to Manila
climbed to a historic 98 percent, and TPSB beneficiaries
Water, I only pay less than P200 for our monthly water
increased to more than a million.
bill. That’s big savings for us!”
Tubig Para sa Barangay has effectively
demonstrated Manila Water’s “We
care” brand of service. One of the early
beneficiaries of the program is Barangay
Piñahan in Quezon City, in 1998
Day or night, Manila Water’s commitment to serving
the residents of its concession zone does not waver
A pioneer in sustainable development
As business grew, MWC also understood that it should
play a significant role in ensuring the availability of water
for future generations. Its business objectives had to be
aligned with its social and environmental objectives, and
this triple-bottom-line approach must be integrated into
its day-to-day operations.
FZA during
the JIA
signing for
the Cebu
Bulk Water
Supply
project
From the onset, Manila Water
Chairman Fernando Zobel de Ayala
stressed that the company “had a
mission to fulfill, and not a business
to run.” He said the company should
“work diligently to provide high
quality water and sewerage services,
and improved customer services”
for the residents in the east zone.
Ayala NowJuly-August2012.indd 11
The Lingap program, for example, addressed the need
for water supply and sanitation facilities in public service
institutions largely patronized by poor families like
schools, hospitals, city jails, markets, and orphanages.
Meanwhile, the watershed management and TPSB
programs supported its two main services: water supply
and wastewater disposal.
“Safe water, which is provided to us through Manila
Water’s Lingap Eskwela Program, is one of the many
blessings we are grateful for,” Mariana de Guzman,
principal of the Kapitan Moy Elementary School in
Marikina, said. “Since the provision of the drinking and
hand-washing facilities, there had been no incidence of
water-borne diseases among the schoolchildren and
the whole school community. Manila Water regularly
monitored the safety of the water, with the City Health
Office doing the same routine.”
To date, the company has rehabilitated water reticulation
systems and installed hand-washing stations and drinking
fountains in over 300 institutions under this program.
Through its Kabuhayan Para sa Barangay program,
MWC sought to provide livelihood opportunities for its
customers in low-income communities by engaging
them as suppliers for various water servicing
requirements or contractors in various projects.
Alicia Diamante, president of the Group of Active
Wives and Dependents of Manila Water Employees
(GAWA), said: “Manila Water’s Kabuhayan Para sa
Barangay livelihood program has empowered me
to transform from a housewife to a woman who is
capable of earning additional income for her family.
Running a business that requires me to transact
with an established company like Manila Water
makes me more self-confident and responsible
while I learn the ropes of operating an enterprise
and managing people.”
MWC published its first sustainability report, the
first of its kind in the country, in 2004, to formally
articulate what it has always instinctively known: that
its long-term viability as a business is very much
dependent on its management its environment
impact and its ability to improve people’s lives
through the provision of clean, safe water.
This report benchmarks the company’s
performance against international best practices in
environmental and social performance, as well as
in corporate governance. MWC began using Global
Reporting Initiatives standards in 2006 and became
ISO-certified in 2011.
9/11/12 10:22:45 AM
12
The official publication of the Ayala group of companies Volume 16, Number 4, July-August 2012
A harvest of awards
Manila Water: A brighter future ahead
Ablaza accepts
Manila Water’s
Asian Human
Capital Award
in 2011
Manila Water’s continued success
in positively affecting peoples’ lives
and undertaking various sustainable
development initiatives, while effectively
managing its core business, has become
a benchmark of sorts in the corporate
world. This reputation is further bolstered
by various awards given by professional
groups from the public and private sectors,
as well as organizations in business,
media, and the academe. Below are a
few of the awards that Manila Water has
received in the past 15 years.
2012
• G20 Global Award (G20 and
International Finance Corporation)
2011
• Asian Human Capital Award
(Singapore Ministry of Manpower and
INSEAD)
• Best Managed Mid-Cap Company
(Finance Asia Magazine)
2010
• Global Grand Prize (International
Water Association Project Innovation
Awards)
• Water Efficiency Project of the Year
(Global Water Intelligence and Water
Report)
• Corporate Governance Awards
(Corporate Governance Asia), won four
times since 2007
• Hall of Fame Award as a model
company (Department of Trade and
Industry)
2009
• Intel-AIM Corporate Responsibility
Award (Asian CSR Awards)
• Outstanding Workers of the Republic
Award for eight Manila Water
employees (Rotary Club of Manila),
won since 1999
2007
• Client Leadership Award (International
Finance Corporation)
• Best Managed Company (Asiamoney
Magazine), also won in 2005
2006
• Best Workplace Practices (Asian CSR
Awards)
• Landmark Employer of the Year
(People Management Association of
the Philippines)
• Distinction Award for the Water Deal of
the Year (Global Water Intelligence)
• Asia Water Management Excellence
Award–Industry Category
Manila Water’s presence in Vietnam is part of the company’s
strategic expansion across the country and in Asia
Manila Water, from the standpoint of its key
performance indicators, is an unqualified success.
The company managed to reduce system losses
from 63 percent, upon takeover in 1997, to an
unprecedented 11 percent by the end of 2011. It
successfully expanded its 24-hour service coverage
from 26 percent in 1997 to over 99 percent in 2011.
Meanwhile, households served increased from
325,000 in 1997 to more than 1.2 million in 2011.
Billed volume, on the other hand, also increased
more than two-and-a-half times from 440 million liters
per day in 1997 to over 1,127 million liters in 2011.
In terms of finances, MWC successfully improved
its operations, earning a net income of P4.27 billion
in 2011, which was a huge improvement from the
P67 million net loss it incurred in 1997. Revenues
also rose from P11.01 billion in 2010 to P12.0 billion
in 2011. From 1997 to 2012, Manila Water spent
P50 billion to rehabilitate over 900 kilometers of key
primary and secondary mains and to lay a total of
4,156 km of new pipelines, while expanding the
capacity of its pumping stations.
It also achieved significant progress in expanding its
sewerage and sanitation services by investing P6.6 billion
in wastewater projects, and successfully constructing
37 sewage treatment plants and two septage treatment
plants, which have benefited 1.14 million households.
Now, the company is keen on reaching beyond the
east zone and replicating its best practices across—
and even beyond—the country.
Those who have taken the helm of MWC have
stressed this need for expansion. Antonino Aquino
said: “After having accomplished what I consider to
be the impossible, there is really so much more that
Manila Water can do for the rest of the country.”
“It is important that we continue looking for areas
where we can grow, and from a social responsibility
point of view, to be able to bring what we have
learned at Manila Water to other areas that are equally
situated,” said Gerardo Ablaza. In addition, Rene
Almendras stressed that “Manila
Water needs to share what it
knows how to do really well
with the rest of the world.”
I believe in using
In 2009, Manila Water acquired
70-percent ownership of
the Laguna AAA Water
Corporation, which has a
25-year deal to provide water
services for Sta. Rosa, Biñan,
and Cabuyao in Laguna.
The company also struck a
joint-venture deal with the
government for the operation of Boracay Island’s water
and sewerage system.
Two years earlier, MWC embarked on its first-ever
international venture through a water management
contract in Tirupur, India. Then, in 2008, Manila
Water secured a second foreign venture through a
performance-based five-year contract with Saigon
Water Corporation in Vietnam to reduce nonrevenue
water in Ho Chi Minh City’s zone 1.
This seemingly inexorable march beyond the east
zone continued in 2011 when it acquired Clark Water
Corporation, which served the Clark Freeport Economic
Zone in Pampanga, and bought a 49-percent stake in
Thu Duc Water BOO Corporation, the largest private
bulk water supplier in the southern part of Vietnam.
This year MWC expanded further by signing an
agreement with the Province of Cebu for a joint
investment agreement on the Cebu Bulk Water Supply
Project—the largest such project in the south. It also
acquired 47.35-percent ownership of Kenh Dong Water
Supply Company, which provides bulk water supply
and water treatment for a major portion of Ho Chi Minh
City, to further strengthen its presence in one of the
region’s fastest-growing economies.
Manila Water has overcome many challenges to
become one of the most successful water providers
in Asia over the past 15 years. Its success also
demonstrates the Ayala group’s pioneering efforts in
integrating its economic targets, social engagement,
and environmental sustainability. In the words of Ayala
Chairman, Jaime Augusto Zobel de Ayala: “I believe in
using the capitalist model to invest, make a difference
in people’s lives, strengthen a community, and find
winning opportunities to address a broader set of needs
of a customer group while contributing to the economic
and social development goals for a country.”
In the years to come, Manila Water affirms its
commitment to providing its trademark efficient and
people-oriented service, while engaging in community
and sustainable development projects.
the capitalist
model to invest, make a difference
in people’s lives, strengthen a
community, and find winning
opportunities to address a broader
set of needs of a customer group
while contributing to the economic
and social development goals for a
country.
—Jaime Augusto Zobel de Ayala
Ayala NowJuly-August2012.indd 12
9/11/12 10:22:50 AM
2
TEN Moves gains support in Cebu
From left: AFI Senior
Director Mario
Deriquito, Ayala
President and COO
Fernando Zobel de
Ayala, Ayala Business
Club Cebu President
Manuel Gordon,
DepEd Secretary Armin
Luistro, and PBSP
Executive Director
Rafael Lopa
Since its inception, the social mobilization campaign The Entire Nation (TEN) Moves
has inspired individuals, corporations, and educational institutions to help it meet its
goal of building 10,000 public school classrooms across the country.
On August 6, the Ayala Business Club Cebu Inc. (ABCCI), pledged P1,898,300.00
to boost the TEN Moves campaign, through the donations of local corporations and
organizations.
For ABCCI President Manuel Gordon, one of the prime movers of the campaign in
Cebu, supporting TEN Moves is one step towards ensuring that all Filipino children
have a solid educational foundation, in environments that support and encourage
learning.
“Our youth deserve classrooms that will give both their bodies and their minds the
room to discover and to learn,” said Gordon. “Through TEN Moves, every Filipino can
make a crucial investment in the educational future of Filipino children everywhere.”
Joining the ABCCI in moving for TEN Moves are the Bank of the Philippine Islands–
Cebu, Marriott Hotel–Cebu City, Cebu Holdings Inc., Globe Telecom, Honda Cars–
Cebu Inc., and Isuzu–Cebu Inc.
As of July 2012, a total of 2,741 classrooms have been pledged for TEN
Moves’ mother campaign, Bayanihang Pampaaralan, with 880 classrooms
already built.
As Cebu joins the campaign to build 10,000 classrooms, Department of
Education Secretary Armin Luistro commended the commitment of private–
public partnerships to education, which has allowed TEN Moves to make a
difference in the lives of Filipino children.
Said Luistro: “The TEN Moves campaign is the campaign of the Filipino
people. The continued outpouring of support from individuals, the
academe, nongovernmental organizations, the private sector, and local
government units is testament to the possibilities that we can achieve for
our children, if we all work together.”
He added: “With the help of every Filipino, we hope to fill up the classroom
backlog, and ensure that every Filipino child and educator will have the
space that they need to fully appreciate the gifts of learning,”
For Mario Deriquito, senior director for education and leadership
development at Ayala Foundation Inc., and a prime mover for TEN Moves,
education remains a key contributor to the success and development of a
nation. He said: “With the participation of Cebu in this campaign, we hope
that more communities will be inspired to make their move to improve the
state of education in the Philippines, to help the country stay on course to
true development.”
Interested donors are encouraged to donate P300 a month for 10 months
to help fund the construction of 10,000 classrooms under TEN Moves. To
learn more about TEN Moves, please visit www.tenmoves.org or email info@
tenmoves.org
Globe’s Kape’t Buhay supports Filipino coffee farmers
“Our sales are bigger now. One kilo of our roasted beans now sells for P230
each,” PFAI farmer Fernando Cantos said. In addition, they have begun offering
roasting services to other coffee farmers in the vicinity.
Three months into the program, the PFAI was able to set up a small outpost near
their parish church. There, they sell roasted coffee beans by the kilo and brewed
coffee by the cup.
Members of the PFAI in
Dolores, Quezon, roast
and sell their own coffee
beans in their Kapehan
sa Bayan
The Pinagdanlayan Farmers Association Inc. (PFAI) in Dolores, Quezon, has
almost 1,000 coffee trees where robusta and excelsa beans grow. In the past,
the farmers needed to bring their coffee cherries to town for hulling, roasting,
grinding, and packaging. The coffee processing costs, plus the transportation
costs, left them with very low profits. Thus, they would sometimes sell their coffee
cherries for as low as P10 per kilo to avoid the processing pains.
This all changed when Globe Telecom’s Bridging Communities, in partnership
with Bote Central Inc., a social enterprise focused on using fair-trade practices
in the production of local coffee, chose the PFAI as one of the 21 partner
beneficiaries of the Kape’t Buhay program.
By providing them with community roasting machines and teaching them how to
establish their own community roasting business units (CRBU), the Kape’t Buhay
program enables coffee farmers nationwide to roast their own beans. It also
gives them capacity-building seminars on business skills development, business
planning, and bookkeeping.
Aside from earning more per kilo of coffee sold, farmers are encouraged to
capitalize on other earning opportunities throughout the coffee production chain.
Ever since the PFAI received their coffee-roasting unit last March 2012, they have
been earning more from coffee sales.
Ayala NowJuly-August2012.indd 13
“Locals have been buying our coffee, most of the time as gifts to balikbayans.
Foreigners also buy our coffee. One German tourist even bought 5 kilos,” said
PFAI’s Noneth Abrenica who man’s the association’s Kapehan sa Bayan.
Globe also provided Bote Central with information and communications
technology (ICT) tools like desktop computers, mobile Internet subscriptions,
and special Globe Bridging Communities SIM cards, which give partner
beneficiaries, such as the PFAI, discounted rates on calls and text messages.
Farmers were also given access to financial services and the opportunity to open
their own mobile-based saving accounts through Globe Bridging Communities’
partnership with BPI–Globe BanKO.
The Kape’t Buhay program is one of Globe Bridging Communities’ projects
under the i-Prosper pillar, which hopes to transform the marginalized poor into
farmer-entrepreneurs. By using ICT-integrated business solutions, we hope to
empower them with skills and the means to develop the local coffee market.
Moreover, Globe introduced a unique farm-to-market strategy by bringing
coffee beans from the Kape’t Buhay program to its employees via coffee vendo
machines in various Globe offices. Thus, freshly brewed coffee beans produced
under fair-trade principles are enjoyed by almost four thousand Metro Manila–
based Globe employees on a daily basis.
“Every cup lets you do your share, that’s why we are amazed at the support of
Globe employees for its CSR programs,” said Bote Central Owner Vie Reyes.
9/11/12 10:22:51 AM
14
The official publication of the Ayala group of companies Volume 16, Number 4, July-August 2012
Book lovers flock to 2012 ReaderCon at FHL
After lunch, participants were able to listen to different authors talk about
why, what, when, and how they read in the Authors as Readers sessions.
Manix Abrera, Mina Esguerra, Jun Balde, Budgette Tan, Bebang Siy, and
Dean Alfar were the authors invited to the sessions.
The success
of ReaderCon
2012 is driven
by volunteers
and book lovers
United We Read: The 2nd Filipino Reader Convention gathered hundreds of
readers, writers, illustrators, publishers, and teachers of all ages, for a very
bookish Saturday last August 18. The whole-day event was organized by
volunteer bookworms and book bloggers and the Filipinas Heritage Library, in
partnership with the National Book Development Board (NBDB).
“We need a reading revolution,” said NBDB Executive Director Andrea PasionFlores, in her keynote speech. She stressed the need for a relentless force in
the promotion of books and the love of reading in the Philippines.
Her speech was followed by a series of breakout panel discussions. For the
first set of discussions participants listened to reading advocates in Reading
Everywhere: Scanning the Reading Environment and Book Blogging Ethics.
Representatives from publishing companies talked about the Publishers’
Perspective on Readers, while teachers from private and public schools
presented their School Reading Programs That Work for the second set.
This was followed by a series of book discussions led by the De La
Salle University Literature Circle and the Filipino Goodreads Group, the
Mysterious Reading Society, and Flips Flipping Pages. Participants were
able to speak through Skype with Pacific Rims author Rafe Bartholomew
during the book discussion led by Flips Flipping Pages.
The 2012 Filipino ReaderCon was highlighted by the first ever Readers’
Choice Book Awards ceremony. Winners were chosen through a threestep process. First, readers nominated their favorite books for each
category, followed by the online voting process. Based on the readers’
votes, shortlisted entries were deliberated upon by a select panel of book
bloggers and readers, until a winner was chosen per category.
The winners of the first Readers’ Choice Book Awards were as follows:
Annie Lumbao, Anelka Lumbao, and Liza Flores’s But That Won’t Wake
Me Up!, children’s picture book category; Mina Esguerra’s Fairy Tale Fail,
chick lit category; Miguel Syjuco’s Ilustrado, novel in English category;
and Jun Cruz-Reyes’s Ang Huling Dalagang Bukid at ang Autobiography
na Mali, novel in Filipino category.
Rounding out the winners were Manix Abrera’s KikoMachine Komix Blg6,
comics/graphic novel category; Rocket Kapre and Flipside Publishing’s
Alternative Alamat edited by Paolo Chikiamco, short story anthology
category; Bebang Siy’s It’s a Mens World, essay anthology category;
and Vibal Publishing’s Off the Beaten Track: Tulaan sa Tren 2, poetry
anthology category.
Ayala Museum hosts Sharaku exhibit
The Ayala Museum, in cooperation
with the Embassy of Japan and the
Japan Foundation Manila, held an
exhibit entitled Sharaku Interpreted
by Japan’s Contemporary Artists.
Organized in celebration of
Philippine-Japan Friendship Day,
the exhibit features and honors
master ukiyo-e artist Toshusai
Sharaku.
Ukiyo-e, Japanese for “pictures of the
floating world,” is a Japanese form of
woodblock painting produced from the
17th to the 20th century. Popularized
during the Edo period, these paintings
were often used as book illustrations
and then as single-sheet prints or
posters for the kabuki theater.
Toshusai Sharaku produced over 140
ukiyo-e works within just 10 months,
from May 1794 to February 1795.
These were woodblock portraits of actors in their kabuki or kyogen roles as sumo
wrestlers and warriors. Of these 140 works, there were 28 large portraits that were
held in high esteem. They featured close-up images of the heads of kabuki actors.
“Sharaku cannot be said to have set out to depict a likeness of the faces of the
actors. Rather, they were drawn in an impressionistic fashion, as if the inner
character of the person appearing in that scene is overlapped with the actor’s
own individual features, supposedly hidden by his thick make-up,” wrote Japan
Foundation’s Masanobu Ito.
Ayala NowJuly-August2012.indd 14
The exhibit is divided into three sections: Reproductions of Sharaku, Sharaku in
Graphic Art, and Homage to Sharaku. The first section features the 28 bust portraits
by Sharaku, as recreated by the Adachi Institute of Woodcut Prints.
The second section exhibits posters created by 28 Japanese graphic designers
including Takashi Murakami, known for his collaboration with Louis Vuitton in 2002.
Each graphic designer singled out a section of an actor’s face as depicted by
Sharaku. This segment is then replaced somewhere on the poster. The Sharaku
in the Graphic Art section was planned and supervised by Shigeo Fukuda and
organized by the Mainichi Newspapers.
Meanwhile, the third section features works by young artists paying homage to the
master through their own interpretations of Sharaku’s work.
Sharaku Interpreted by Japan’s Contemporary Artists runs from July 10 to September
16, at the Ayala Museum Ground Floor Gallery. Related activities, such as an ukiyo-e
print-making demonstration by the Adachi Institute of Woodcut Prints, are also being
held within the exhibit period.
For more information, visit wwww.ayalamuseum.org or email museum_inquiry@
ayalamuseum.org
From left: Japan
International Culture
Center Director Kiyoshi
Takeuchi, AFI Senior
Director for Arts and
Culture Mariles Gustilo,
Japan Foundation-Manila
Director Shuji Takatori,
Japanese Ambassador to
the Philippines Toshinao
Urabe, his wife Etsuko
Urabe, Ayala Chairman and
CEO Jaime Augusto Zobel
de Ayala, and AFI President
Luli Heras-de Leon open
the exhibit
9/11/12 10:22:54 AM
4
A Page from Ayala History
IMI’s 32 years of EMS leadership
Indeed, IMI grew at an impressive pace. As early as 1982, the company
expanded its IC assembly to include contract manufacturing. In 1998, it
started offering design and product development services.
After successfully establishing its footprint in the Philippines, IMI began
working toward international expansion. In 2005, it acquired the EMS
assets of the American company Saturn Electronics and Engineering, as
well as the Singapore-based Speedy-Tech Electronics.
IMI co-founder Arturo Carlos (center) receives a
plaque of appreciation from IMI President and CEO
Arthur Tan (left) in 2010. With them is Francisco
Ferrer, IMI’s former president and CEO
IMI’s old building in Cupang, Alabang
The global semiconductor and electronics industry saw an important shift in the
1970s when industrialized countries decided to move their manufacturing facilities
to developing countries. Countries like the Philippines were being considered to
meet the demand for electronics manufacturing services (EMS).
Integrated Micro-Electronics Inc. (IMI) was one of the companies that responded to
the need for integrated circuit (IC) assemblers. Established in August 1980, IMI was
incorporated wholly by Filipinos and Filipino-owned companies. Ayala Corporation
had a 50-percent share in the company, while Resins Inc. had 30 percent, and
Arturo Carlos, 20 percent.
Carlos, IMI co-founder and its only noncorporate shareholder, recalled the early
years of IMI. “We were lucky to have a very good team. We had a core of six
managers. They didn’t know each other until that time, but putting them in a
situation where all of them had to work on a daily basis to get the company up
and running solidified the team. It gave them the opportunity to build together that
relationship which enabled the company to grow very rapidly.”
IMI marked two important milestones in 2010—it listed with the Philippine
Stock Exchange, and opened a manufacturing facility in Chengdu
Province, China. The following year saw IMI’s continued global expansion
as it acquired the subsidiaries of EPIQ NV subsidiaries in Bulgaria, the
Czech Republic, and Mexico. EPIQ is an EMS provider that designs,
produces, and sells electronic and electro-mechanical systems and subsystems.
Today, IMI operates in 17 manufacturing sites all over the world, including
the Philippines, China, Singapore, the US, Mexico, Bulgaria, and the
Czech Republic. It is also the only local company included in the latest
Manufacturing Market Insider’s (MMI) list of top 50 EMS providers in the
world, where it ranks 24th.
IMI’s production line
during the 1980s
Ayala TBI promotes ICT, entrepreneurship through forums
The Ayala Technology Business Incubator (Ayala TBI) remains committed
to promoting information and communication technology (ICT) and
entrepreneurship through various event held at the UP–Ayala Land
TechnoHub.
On July 11, Ayala TBI hosted the first stop of the 7th Ambassadors, Consuls,
General, and Tourism Directors (ACTGD) tour. The ACTGD is a joint project of all
Philippine foreign posts in the USA and Canada, in cooperation with the Department
of Tourism, Department of Foreign Affairs, and Department of Trade and Industry.
During the event, Philippine Economic Zone (PEZA) Promotions and Public Relations
Group Manager Elmer San Pascual briefed participants on the government’s efforts
toward promoting investments, creating employment, and generation exports. Ayala
TBI also showcased Kaspersky Lab 2012 Student Conference Global Cup winners
Joshua Arvin Lat, Kevin Charles Atienza, and Rod Xavier Bondoc.
IBM Research and Development Executive Jay Sabido capped the event by sharing
the multinational company’s view on the Philippines as a key growth market area.
A few weeks earlier, Ayala TBI hosted a Kape+Teknolohiya Forum, featuring a
printed circuit board (PCB) design engine and electromagnetic interface simulation
workshop in partnership with PCB Graphtec Philippines.
makes it possible to design and produce high-quality, three-dimensional
electronic products. CTS Studio Suites, on the other hand, offers efficient
and accurate computational solutions for electromagnetic designs.
Meanwhile, on August 2, Ayala TBI hosted the University of the Philippines
Diliman’s College of Computer Science’s Accelerating Information
Technology Innovation (AITI) program’s technology demonstration.
The AITI program, done in partnership with the Massachusetts Institute
of Technology (MIT), allowed 24 students from UP Diliman to go through
a seven-week course, which included a detailed technical curriculum
focusing on mobile and Internet technologies. Oshani Senevirante, Danny
Castonguay, Francis Plaza, and Davita Chandra, were the four MIT
instructors of the program.
Technologies presented were DestinationPH, an application that interfaces
with Google Maps to help tourists find their way to various tourist
destinations in the country; eAgriMarket, which lets users, buys, sell, haggle,
and bid for agricultural goods in-bulk online; Jeeps, an application designed
for mapping out public transportation routes for commuters; Mobile
Notebook, a note-taking application that can be integrated into Google
Documents; and Check UP, which helps students keep undated on their
academic standing based on their respective curriculum.
PCB Graphtec presented two software solutions for the electronic design automation
(EDA) and PCB markets. Altium Designer, which is marketed to the industrial sector,
Ayala NowJuly-August2012.indd 15
9/11/12 10:23:02 AM
16
The official publication of the Ayala group of companies Volume 16, Number 4, July-August 2012
Enabling Education
Communities
organizes seminar for
Malaybalay teachers
McMicking awardee is PAF
Flying School’s best
First Lieutenant Jesus Conseja Jr. received the Joseph
R. McMicking Gold Wings Award from Ayala Corporation
CFO Delfin Gonzalez Jr. at the graduation rites of the
Philippine Air Force (PAF) Flying School held on August
17 at Fernando Air Base, Lipa City, Batangas.
The McMicking Gold Wings Award was first given in
1939, after Col. Joseph McMicking suggested that the
Air Force recognize the best all-around flyer. Conseja,
the 73rd recipient of the award, also graduated at the
top of the Military Pilot Training Class of 2012.
Ayala CFO Chito Gonzalez pins
the McMicking Gold Wings on
1LT Jesus Conseja Jr., assisted by
Col. Sharon Gernale, commandant
of the PAF Flying School
The McMicking Gold Wings Award was one of four
important awards given at the PAF Flying School
graduation ceremonies. The other awards were for best
in academics, best in instrument flying, and best overall.
Participants of the EEC seminar for teachers in Malaybalay, Bukidnon
Ayala Foundation Inc. (AFI), through its Enabling Education
Communities (EEC) program, partnered with the Agencia
Española de Cooperación Internacional para el Desarrollo
(AECID), to hold a seminar on the pivotal role public
school teachers and teachers’ organizations can play in
creating positive change in their respective schools and
communities.
As many as 60 officers of teachers’ associations in the
Department of Education Malaybalay City Division attended
the daylong seminar, held on July 14 in Malaybalay City,
Bukidnon. The seminar, which carried the theme Passion
for Thinking: A Profession and Vocation, also emphasized
the importance of the right values and attitude to facilitate
learning.
AFI Mindanao Senior Manager Archie Velasco gave the
opening remarks, where he encouraged the participating
teachers to serve as role models in the classrooms
and in the community. He also thanked the people and
organizations that contributed to the progress of EEC,
which is also committed to strengthening the Federation of
Teachers Associations (FTA).
Dr. Edralin Manla, a faculty member at Xavier University–
Ateneo de Cagayan’s School of Education, served as
the resource speaker for the seminar and workshop. Her
workshop included reflective activities anchored on values
formation and community organizing for teachers. Also
discussed were expectations for teachers founded on the
National Competency-Based Teachers Standard (NCBT),
particularly on community linkages.
Dr. Manla also showed participants the movies Beyond
the Blackboard and Three Letters from Teddy to deepen
the participants’ concern for the student, classroom
environment, and the community. To enrich the learning
experience of each participant, cell groupings, focused
group discussions, and online feedback mechanisms were
used as well.
AFI Mindanao Development Associates Kating Araña and
Romcy Madronio emceed the event. In addition, Gretchen
Caseres, a member of the Malaybalay City Teachers’
Federation, was given a lifetime teacher’s award, upon her
retirement in July. She served the city as a teacher for 43
years.
Ayala NowJuly-August2012.indd 16
1Lt Conseja (fourth from left)
with Gonzalez (second from
left), and other PAF officers and
distinguished guests
BPI hosts mixer for Manila’s top
mathematics, statistics majors
Limcaoco, himself a math major, talked about
the long history of banking. He also stressed the
banking sector’s need for math majors who think
logically and clearly.
Participants speak with TG Limcaoco after the event
The Bank of the Philippine Islands hosted Ad
Infinitum, an exclusive mixer for Metro Manila’s top
mathematics and statistics majors. The event held
at the 1851 Club at the BPI Head Office encouraged
participants to seek banking careers, especially in risk
or credit policy.
BPI Executive Vice President and BPI Savings Bank
President Jose Teodoro Limcaoco keynoted the
event. He stressed that banks need more than
just finance and management majors. They need
individuals who can use math skills to their maximum
advantage.
Meanwhile, BPI Vice President Marty Gonzales
and Senior Manager Steven Lim shared how BPI
was able to help them build their careers. They
highlighted how college prepared them to deal
objectively with customer needs. Working with
numbers and figures, they said, taught them to
give clients accurate data.
A short open forum where one participant inquired
about the importance of job tenure followed the
talks.
Limcaoco replied: “You should not move out
for money. Should you move, you should move
because of the new responsibilities your job
would give you. It’s the bigger challenges that
should interest you to move.”
9/11/12 10:23:11 AM
Bulletin
6
BanKO enters partnerships to
serve farmers, tricycle drivers
Seated from left
are ASKI program
manager Gregorio
Macapagal, ASKI
Executive Director
Rolando Victoria,
BanKO President
Teresita Tan, and
BanKO Vice President
Gigi Gatti. With them
are BanKO, ASKI, and
IRRI representatives
UFTODAP President
Ace Sevilla and
BanKO Customer
Acquisition Head Paul
Vincent Yap with other
UFTODAP officers
BPI-Globe BanKO (BanKO) continues to promote financial inclusion in the country by providing banking
services to marginalized Filipino communities.
For example, BanKO recently partnered with the Christian organization Alay sa Kaunlaran Inc. (ASKI),
and the International Rice Research Institute (IRRI) to improve the productivity and economic condition of
Filipino farmers.
ASKI caters to the agricultural sector and has one of the best microfinancing models in the industry.
BanKO assists ASKI by providing farmers with bank accounts and micro-loans. Through the use of its
mobile and online channels, BanKO improves the collection and disbursement process of ASKI.
“Through this project, we hope to explore the possible developments that microfinancing and new
technology can bring to improve the lives of the farmers,” said BanKO Vice President for Emerging
Markets and Internal Services Gigi Gatti.
Meanwhile, BanKO also introduced its mobile-banking services to members of the Tricycle Pedicab
Franchising Office (TPFRO) and the United Federation of Tricycle Operators Drivers Association Pasay
(UFTODAP), during their quarterly meeting last July 28.
There, Paul Vincent Yap, BanKO’s customer acquisition head, introduced the bank’s micro-insurance
product. For just P365 a year or P1 per day, one can get a year’s worth of insurance coverage and
protection. Benefits include P2,500 assistance in case of floods, typhoons, and earthquakes, P5,000 in
case of fire and lightning, and P50,000 in case of accidental death.
Leaders of various tricycle drivers’ groups in Metro Manila, plus representatives from the Social Security
System and Home Development Mutual fund were also present during the meeting.
Moreover, BanKO also signed a partnership agreement with direct-selling company Forever Living
Products Philippines (FLPP) last July 21. The agreement allows FLPP’s network of distributors to pay for
their products and purchases using BanKO’s online and mobile payment channels. It also allows FLPP
to have their volume bonuses directly credited to their BanKO accounts.
FLPP Managing Director Rosalio Valenzuela said that the partnership would provide the much-needed
financial platform for its growing e-commerce business, which services distributors in remote and
provincial areas. With BanKO, distributors are able to accomplish financial transactions within the
comfort of their home or worklplaces instead of going to bank branches. This allows them to save time
and focus on growing their business. In addition, the distributor’s transaction records can serve as the
basis for extending a loan or credit line, which in turn can help then expand their business.
In a move to expand its reach in the Visayas, BanKO recently teamed up with Prim Asia Pawnshop Inc.,
one of the top five pawnshop chains in the country. The pawnshop’s 61 branches in Cebu can facilitate
the opening of BanKO accounts and perform cash-in and cash-out transactions.
With this, BanKO has increased its number of partner outlets nationwide to more than 1,600.
Furthermore, it is now positioned to offer its Send Money service, a more economical and convenient
alternative to traditional over-the-counter remittance and money transfer services.
Ayala NowJuly-August2012.indd 17
Globe bags
Asia Responsible
Entrepreneurship
Award
Globe CSR
Head Rob
Nazal (left) and
Globe CSR
Senior Officer
Fernando
Esguerra
receive the
AREA Award
for Southeast
Asia’s Social
Empowerment
Category
Globe Telecom was the country’s first
telecommunications firm to win in the Asia
Responsible Entrepreneurship Awards (AREA)
2012, Southeast Asia’s Social Empowerment
Category.
AREA recognizes organizations that go beyond
standard business operations to fulfill their
responsibilities to their internal and external
environments. Its Social Empowerment Category
focuses on programs for communities or
individuals that are socially excluded or who
suffer discrimination in work, business, or in
community life.
Sagot Ka ni Kap, a Globe Bridging Communities
community vigilance program that harnesses the
power and speed of mobile technologies for good
governance at the barangay level, bested 25 other
entries from all over Southeast Asia.
“This award is a testament to the dedication of
Globe to social responsibility. For Sagot Ka ni Kap,
we were able to capitalize on the core business and
competencies of Globe to make way for mobile
and broadband technologies for ordinary citizens
to have a voice in the community resulting in
responsive governance and efficient peacekeeping
activities in rural areas,” said Globe Corporate
Social Responsibility head Rob Nazal.
Launched in 2008 by Globe Bridging Communities,
Sagot Ka ni Kap is Globe’s flagship CSR program.
Through the program, community watch volunteers
have been equipped with mobile phones, hand-held
radios, rain gear, and first-aid kits. They have also
been provided with capacity-building workshops on
the Barangay Rule of Law, conflict resolution, and
crisis management.
To date, there have been 385 communities
included in the program. From 2008 to 2011,
incident reporting on various disturbances within
these communities increased from one to two
per day (when the program started) to the current
rate of 15 to 20 reports daily. More importantly,
there has been a 34-percent decrease in negative
incidents within these communities since the
program’s inception.
9/11/12 10:23:13 AM
18
The official publication of the Ayala group of companies Volume 16, Number 4, July-August 2012
Seminar on built heritage conservation held
to celebrate Nielson Tower’s 75th year
Manuel Noche
of the Heritage
Conservation
Society
Restoration
expert Liliane
Manahan
In celebration of the 75th anniversary of the Nielson Tower and Airport and the
16th anniversary of the Filipinas Heritage Library (FHL), a special seminar on
built heritage conservation was held at the FHL Reading Room on August 23.
Organized in cooperation with the Heritage Conservation Society (HCS), the
seminar, entitled Pamana: A Seminar on Built Heritage Conservation, attracted
architects, tourism professionals, real-estate developers, and others.
HCS Director Manuel Lopez del Castillo-Noche laid the groundwork for the
discussions with his lecture entitled What is Heritage? The next speaker was
conservation architect Rene Luis Mata, who talked about heritage conservation
cases and the concept of “adaptive reuse.”
Ayala Malls draw winners
for Green Fridays promo
As part of its commitment to sustainability, Ayala Malls launched the Green
Fridays campaign, which encouraged the use of eco-bags instead of regular
shopping bags on Fridays. Since its launch in March, over 1,000 Ayala
Malls merchants have implemented no-plastic policies in their stores, or use
biodegradable plastic or paper bags every Friday. Ayala Malls shoppers also
began bringing their own reusable bags.
To further promote the campaign, Ayala Malls launched the Green Fridays
promo, which gave eco-bag users the chance to win exciting prizes, such as
vacation packages at El Nido Resorts or a new home at Avida Homes Cerise
in Nuvali, Laguna. The names of the promo winners were drawn on June 25
at the Glorietta Activity Center. The event was attended by ALI officials and
representatives from partner organizations, such as WWF–Philippines, El Nido
Resorts, and Avida Homes.
The winners of the El Nido vacation packages were Michael Mungcal, Priscilla
Jaserano, Christine Hernandez, Jenny Rose Sunga, Belinda Masumura,
Mendrelyn Borromeo, Daisy Arriola, Aida Uy Libaton, Joy Golicha, Hector
Posa, Eduardo Ramirez, and Karen Anne Ramirez. Myra Leah Aguila won the
grand prize of a house and lot at Avida Homes Cerise in NUVALI.
Aside from the Green Fridays campaign, the Ayala Malls have undertaken
other environmental sustainability programs. In partnership with WWF–
Philippines, Ayala Malls have committed to plant and nurture 3,500 mango
and citrus seedlings for an agro-forestry program at the Abuan Watershed,
Northern Sierra Madre Natural Park, Isabela. This program will help reduce
erosion around the Abuan River, and provide an alternative livelihood source
and a model for sustainable farming practices for the residents.
This was followed by four breakout sessions. Topics were Republic Act No.
10066 (or the National Cultural Heritage Act of 2009), discussed by HCS
Vice President and award-winning heritage and travel blogger Ivan Anthony
Henares; heritage and tourism, discussed by del Castillo-Noche; heritage
and industry, discussed by Dominic Galicia, principal of Dominic Galicia
Architects; and Built Heritage Preservation 101, with historical finishing and
coloring expert Liliane Manahan.
The participants then gathered for a session on the challenges in heritage
conservation, which was discussed by Nathaniel von Einsiedel, chairman
and CEO of Consultants for Comprehensive Environmental Planning Inc.
Business Mirror and Ayala Land Inc.’s Make it Happen, Make it Makati were
the sponsors for Pamana.
Nielson Tower is the only remaining pre–World War II structure in the Makati
Central Business District. FHL’s adaptive reuse of Nielson Tower received an
honorable mention at the 2001 UNESCO Asia-Pacific Heritage Awards.
Ayala Group Events
Distrito Makati Late Night Food Market
Amorsolo Open Parking Lot (near Makati
Medical Center)
Wednesdays, Thursdays, and Fridays
9:00 p.m. to 3:00 a.m.
http://facebook.com/distritomakati
Mezza Norte Food Market
UP–Ayala Land TechnoHub
Commonwealth Avenue, Quezon City
Thursdays, Fridays, Saturdays
6:00 p.m. to 3:00 a.m.
http://facebook.com/MezzaNorte
Sharaku Interpreted by Japan’s
Contemporary Artists
Ayala Museum
July 10 to September 16
http://www.ayalamuseum.org
Digital Photography 101
With Dennis Balangue
October 13 and 20
9:00 a.m. to 4:00 p.m.
http://www.filipinaslibrary.org.ph
Third LibraryLink Conference
Beyond Librarianship:
Information as a Way of Life
Filipinas Heritage Library
October 17 to 19
http://www.filipinaslibrary.org.ph
Annual CENTEX Teacher
Training Workshop
In Malvar, Batangas
October 29 to 31
http://www.centex.org.ph
To include your events in the list, send details to ahyong.vy@ayalafoundation.org
For Makati City events, visit the Make It Happen, Make It Makati
website (www.makeitmakati.com) and www.facebook.com/makeitmakati
Publisher John Philip Orbeta Editor-in-Chief Maritoni Ortigas Editorial Consultant Emi de Lara Managing Editor Paul de Guzman Deputy Managing Editor Verne Ahyong
Assistant Editor Janella Cacdac-Siena Graphic Designer Alezza Buenviaje Advertising Manager Ciela Cayton Photographer Jaime Martinez
CORRESPONDENTS Ayala Corporation Gale Launio Ayala Land, Inc. Suzette Naval, Christine Lim-Siruelo, Rommel Santiago, Nedz Manangan
Bank of the Philippine Islands Sarah Hernaez, Rachelle Dangin Globe Telecom Jan Vincent Ibesate Manila Water Company Arlene Liongson, Alberto Ramirez
Integrated Micro-Electronics, Inc. Fred Blancas Ayala Foundation, Inc. Verne Ahyong, Lis Baumgart Ayala Automotive Group Monina Macavinta
Editorial Office Filipinas Heritage Library Makati Avenue, Ayala Triangle Makati City 1224, Philippines Telephone (632) 892 1801 local 14 Facsimile (632) 892 1810
E-mail AyalaNow@filipinaslibrary.org.ph URL www.ayala.com.ph/press_room_ayala_now.php
Ayala NowJuly-August2012.indd 18
9/11/12 10:23:19 AM
8
Bulletin
IADI, Isuzu Cebu reap awards in
2012 Isuzu Service Skills Olympics
Two of IADI’s 2012 Isuzu Skills
Olympics winners (second
and third from left) with Ayala
Automotive President Rufino
Luis Manotok (second from
right), IADI General Manager
Rene Paningbatan (leftmost),
and Isuzu Alabang Branch
Manager Erlo Tenedero
(rightmost)
Isuzu Automotive Dealership Inc. (IADI) and Isuzu Cebu Inc. (ICI) scored impressive victories in the
recently concluded 2012 Isuzu Service Skills Olympics held at the Isuzu Philippines Corporation (IPC)
plant in Biñan, Laguna.
Representatives from IADI-affiliated dealers emerged as top winners in the annual competition for
automotive service skills. Isuzu Cavite’s Dominic Laqui bagged the championship trophy in the Service
Advisor category, while Isuzu Pasig’s Christopher Pedro won third place.
For its part, ICI made a mark by winning first prize in the Service Technicians Category. The winning
team was composed of Julius Opaco and Andrew Sarvida (from ICI’s Mandaue and Cebu dealerships,
respectively). The Isuzu Iloilo team composed of Kenneth Sasana and Nemesio Tagolimot was second
runner-up.
AYLC alumnus wins
at Cinemalaya
Aparisyon, a film by Ayala
Young Leaders Congress
(AYLC) 2002 alumnus
Vincent Sandoval, won
the Best Sound Award at
the recently concluded
Cinemalaya 2012 Film
Festival. It was also one of
the films that competed in
the festival’s New Breed
feature-length category.
The film follows the lives
of cloistered nuns in Rizal
during the Martial Law era,
and how their lives and the lives of those around them
were affected during this period. Aparisyon stars Fides
Cuyugan Asensio, Raquel Villavicencio, Mylene Dizon,
and Jodi Santa Maria.
Aparisyon Director
Vincent Sandoval
Now based in the US, Sandoval graduated with a
degree in psychology from the University in San Carlos
in Cebu City, before pursuing further studies at New York
University.
HCMI hosts roadsafety seminars
The winners in this year’s Isuzu Service Skills Olympics will have the chance to represent Isuzu Philippines
in the annual Isuzu Asia Oceania Technical Competition, to be held in Japan this November.
FZA joins Cobra Energy Drink
Ironman 70.3 triathlon
HCMI Alabang holds seminars for elementary
school students
Fueled by the drive to continuously nurture
customer relationships and promote road safety and
environmental consciousness among road users,
Honda Cars Makati Inc. and its affiliated dealerships
organized several seminars for the benefit not only of its
customers, but also of public school students.
FZA with triathletes
from Globe Telecom
Ayala President and COO Fernando Zobel de Ayala joined Cebu’s first and the country’s fourth
Cobra Energy Drink Ironman 70.3 triathlon last August 5, where he finished 11th in his division with
a time of 6:14:48. The event drew about 1,700 participants from 31 countries.
Australia’s Pete Jacobs and Switzerland’s Caroline Steffen topped the men’s division and women’s division,
respectively. The triathlon involved a 1.2-mile swim at the Shangri-La Mactan Resort and Spa, followed by a
56-mile bike ride through four of Cebu’s major cities: Lapu Lapu, Mandaue, Cebu City, and Talisay. The final
event was a 13.1-mile run at Punta Engaño, at the northern tip of Mactan Island.
New Filipino Elite champion Augusto Benedicto and four-time titlist Monica Torres performed best among
the local participants. The triathlon winners were given medals designed by award-winning Cebuano furniture
designer Kenneth Cobonpue.
Ayala NowJuly-August2012.indd 19
Honda Cars Pasig recently conducted a free seminar
on defensive driving and fuel-saving for its sales,
service, and parts customers. The seminar focused on
ways to avoid potential road accidents and served as
a refresher course on road signs as well as traffic rules
and regulations.
Meanwhile, Honda Cars Alabang held a road-safety
seminar for the students of Tanzang Luma Elementary
School in Imus, Cavite. This was part of HCMI’s roadsafety campaign, which seeks to educate pedestrians
on safety procedures to reduce the rate of road
accidents in the country.
A total of 600 students (from kindergarten to grade
four) attended the seminar, which discussed basic road
traffic signs and the proper ways of crossing the street.
9/11/12 10:23:20 AM
20
The official publication of the Ayala group of companies Volume 16, Number 4, July-August 2012
Ayala group ensures business continuity, organizes
relief efforts for monsoon victims
In light of the non-stop monsoon rains and flooding that struck
Metro Manila and surrounding provinces on August 6 to 9, the
Ayala group of companies has mobilized its people, resources, and
services to provide assistance to the victims.
Ayala Land
Ayala Malls let its merchant stores to close on August 7, but kept its malls
open to provide temporary shelter for those who were stranded. In addition,
Ayala Malls are accepting donations in kind, through the concierge stations
in each mall.
Cash and check donations can also be made through ALI’s Alay sa
Komunidad BPI Account (Peso Account 0031-0684-95). Donations from
overseas are also accepted. Other bank details:
Account Name
Ayala Land Inc.
Swift Code
BOPIPHMMTRY
Bank
Bank of the Philippine Islands
(Ayala/Paseo Branch)
Address
GF Philam Life Building, Paseo de Roxas, Makati
Globe Telecom
Less than one percent of Globe infrastructure in the Greater Metro Manila Area
was affected by flooding as the company had implemented projects to boost
network resiliency and redundancy.
Globe, through Globe Bridging Communities, has also started simultaneous relief
operations in Concepcion Integrated School, Concepcion, Marikina; Mother of
Divine Providence Parish, Payatas, Quezon City; and Holy Trinity Parish, Fairview,
Quezon City. Meanwhile, its Libreng Tawag operations allowed residents to make
free five-minute calls to any network, send text messages to all networks, or make
two-minute international calls through Globe Libreng Tawag facilities.
Manila Water Company
Manila Water worked with local government units to provide clean water
through tankering for the various evacuation centers in Marikina, Pasig, Taguig,
Pateros, San Juan, Mandaluyong, Quezon City, and San Mateo, Rodriguez,
Antipolo, Taytay, Cainta, Binangonan, and Jalajala, all in Rizal Province. Static
tanks were also stationed in Marikina and Rodriguez, Rizal.
Manila Water is also providing water in sealed plastic cups for areas that could
not be reached by tankering services due to high flood levels.
Bank of the Philippine Islands
Despite the heavy rains, BPI kept up to 90-percent of its branches open.
BPI’s Bank Anywhere capability also allowed customers to transact with
other BPI branches aside from their home branch. BPI took measures
to ensure that its more than 910 ATMs in the Greater Metro Manila Area
were fully functional and had adequate cash. Its electronic channels, such
as ExpressOnline, ExpressMobile, and Point-of-Sale Terminals remained
operational 24/7.
BPI continues to accept donations through the BPI Foundation Assistance
Fund (Current Account Number 0011-1530-89). Donations are accepted
over the counter, via ATM, mobile, and other banking facilities.
The Manila Water hotline (1627) is open for other questions and concerns.
Ayala Young Leaders Congress
The AYLAA has mobilized a relief drive in coordination with different agencies on
the ground for the purchase and distribution of needed goods. It also continues
to accept donations through BPI Savings Account number 0039-2797-62. Donors
are requested to confirm their contributions by sending an SMS to the AYLC
Alumni Relations line, 0917 854 5191.
Ayala Museum’s ‘The Filipino Spirit Is Waterproof’
campaign goes viral
During the height of the monsoon rains
and flooding that devastated large parts
of Metro Manila and nearby provinces,
the Ayala Museum saent out a message
through its Twitter feed: “The Filipino
spirit is waterproof.”
Then the museum sent out a call to artists
and designers to come up with artworks that
carried the tagline—a way to inspire those
affected by the floods.
This brief inspirational message spread
quickly across social-networking sites.
In addition, numerous graphic designers
responded to the museum’s call to lift up
the Filipino spirit during a dark period. Here
are some of the works that affirmed the
resilience of the Filipino.
Ayala NowJuly-August2012.indd 20
Artwork by: @NinjakimAI
Artwork by: @KATR1A
Artwork: @milkofpoppy
9/11/12 10:23:20 AM