Lopez Holdings


Ambassador MANUEL M. LOPEZ

Remarks of the Chairman at the 2019 Annual Stockholders’ Meeting
Lopez Holdings Corporation
11 June 2019, The Fifth at Rockwell, R5 Power Plant Mall, Rockwell Center, Makati City

Magandang umaga sa inyong lahat.

Fellow stockholders:

The year 2018 was a year of innovative transformations as our investees, First Philippine Holdings Corporation (FPH) and ABS-CBN Corporation, worked on sustaining their businesses for the long term.

FPH unit First Gen Corporation (First Gen) boldly proceeded to work on its LNG (liquefied natural gas) import terminal at the First Gen Clean Energy Complex in Batangas. Pre-development and site preparation for this project began in 2016. In 2018, FGEN LNG Corporation, a wholly owned subsidiary of First Gen, signed a Joint Development Agreement (JDA) with Tokyo Gas Co., Ltd. (Tokyo Gas). The JDA is a preliminary agreement to jointly pursue development of the project, with Tokyo Gas taking a 20% participating interest.

Subsequently, FGEN LNG applied with the Department of Energy (DoE) for a Notice to Proceed (NTP), in accordance with the Philippine Downstream Natural Gas Regulation.

This is a significant development given that First Gen owns approximately 2,000 megawatts in operating gas assets, all of which are currently supplied by Malampaya. The Philippine government has determined that LNG represents vital national infrastructure that is needed to maintain and enhance the country’s energy security when the Malampaya gas field is eventually depleted.

First Gen unit Energy Development Corporation, which voluntarily delisted from the Philippine Stock Exchange, is in the middle of a transformation program designed to gain greater efficiency, which will translate to lower electricity costs for consumers. At the same time, it is taking measures to protect its assets from hazards and the deleterious effects of extreme weather and climate change. It is continually working on reducing risk in order to provide uninterrupted power to customers.

Rockwell Land Corporation, which is under the FPH portfolio, is likewise transforming by going into leisure and recreational facilities development. Work is underway on the Aruga Hotel in Rockwell Center, Makati, as well as on a resort in Mactan, Cebu, which will complement the company’s existing residential and commercial projects.

Finally, ABS-CBN is quickly transforming into a digital company, agile and almost ubiquitous, making its content accessible 24x7 to global audiences, appealing to all kinds of viewers with an expansive collection of programming in every genre—whether drama, action, comedy, romantic, horror, English-language and Filipino-language news, sports, children, young adults, Tagalized Asianovelas, as well as music and concerts that are available online using any device and through any internet service provider or telco.

The inauguration of the first two ABS-CBN soundstages in December 2018 is an important step to expand its worldwide audience to non-Filipinos. The state-of-the-art facilities will enable the company to manage production costs more efficiently, and put it at par with the rest of the world in terms of cost and quality.
Through these initiatives of our investees, we look forward to continue serving the needs and wants of our country’s growing population for the long term.

Maraming salamat sa inyong pagtitiwala.

Mabuhay kayong lahat!

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Lopez Holdings Corporation 
16/F North Tower, Rockwell Business Center Sheridan, Sheridan St. corner United St., 1550 Bgy. Highway Hills, Mandaluyong City, Philippines

  • Trunkline: (632) 8878 0000
  • Fax: (632) 8878 0000 ext 2009