Lopez Holdings

 

About the Company

Phil-Asia Assistance Foundation, Inc.PHIL-ASIA ASSISTANCE FOUNDATION, INC. (PAAFI)

Certified by the PCNC and registered with the Department of Social Welfare and Development, PAAFI assists elementary, high school and college students in Metro Manila public schools by providing a monthly allowance to help with transportation, uniforms and projects, as well as conducting regular social worker visits, medical and dental missions for scholars, and values education in partnership with local parishes. It also provides portable libraries to partner parishes.

Since 1987, PAAFI has given 15,147 grants, with 1,178 scholars enrolled for schoolyear 2017-2018.

LOPEZ GROUP FOUNDATION, INC. 

Lopez-Group-Foundation-logoFor more than a century, the Lopez family has practiced the concept of private business reaching out to their communities and the nation, not only in times of calamities, but as customary behavior. It is a behavior they have accepted as the norm.

Through the years, philanthropy has shifted to Corporate Social Responsibility (CSR), focusing on equipping communities to stand on their own. The beneficiaries are treated not as dependents but are educated to become active partners for social development.

The CSR initiatives of the Lopez Group are aligned with the United Nation's Millennium Development Goals (or MDGs) in poverty alleviation, education, environment, and health. The Lopez Group is also a champion in advocacy through its worldwide media outlets.

The Lopez Group Foundation, Inc. (LGFI) was established in 2005 to coordinate and collate information, as well as to facilitate cooperation among different, but similarly aligned projects relating to corporate social responsibility (CSR) of the nine member foundations: ABS-CBN Foundation, ABS-CBN Bayan Foundation, Don Senen Gabaldon Foundation, Eugenio Lopez Foundation, First Philippine Conservation, Knowledge Channel Foundation and Meralco Millennium Foundation. Also members of LGFI are the major companies from the Lopez Group that have active employee volunteers regularly tapped for CSR programs.

BRIDGES is the annual report of the Lopez Group Foundation, Inc. and its members. It aims to give readers a glimpse into the Corporate Social Responsibility (CSR) initiatives of the Lopez Group.

Visit the Lopez Group Foundation, Inc. (LGFI) over at their website
EUGENIO LOPEZ FOUNDATION, INC. / LOPEZ MEMORIAL MUSEUM

The Eugenio Lopez Foundation, Inc., was established by the late Eugenio H. Lopez, Sr. on June 17, 1968.

Its organization was a natural consequence of his passion for philantropy, as well as his extraordinary - even compulsive- urge to collect valuable published or unpublished Filipiniana materials, especially rare books, and paintings by great Filipino masters. His mission is to provide scholars and students access to his personal collection of rare Filipiniana books, manuscripts, maps, archaeo artifacts, and fine art. The institution has become a haven for serious Filipiniana researchers and scholars.

Visit them over at their website.
FIRST PHILIPPINE CONSERVATION, INC.

First Philippine Conservation, Inc. was established on February 9, 1999 to support the work of Conservation International-Philippines (CIP) which is an affiliate of Conservation International (CI), a non-profit organization based in Washington DC, working in 27 countries around the world to promote conservation of the earth's biological diversity. CIP's program is led by Dr. Perry S. Ong, a renowned Filipino environmentalist from the University of the Philippines. CIP's initiatives are: in Palawan, working to ensure that the biodiversity of the forest and marine ecosystems is considered in tourism development zoning; in the Northern Sierra Madre Natural Park, helping park authorities to halt encroachment; and in both areas, working with local communities to find ecologically friendly ways of earning income. At the national level, CIP is organizing the first broad conservation priority-setting workshop and promoting the biodiversity corridors approach to connect valuable habitat.

Visit their webpage on Lopez Group website.

KNOWLEDGE CHANNEL FOUNDATION, INC.

The Knowledge Channel Foundation Inc. (KCFI) formerly Sky Foundation was established in June 1999 as the social development arm of the Sky Vision group of companies. Its purpose is to contribute to nation building by utilizing the infrastructure and technology available to Sky Vision and other Lopez companies for the education of the Filipino. Its vision is to be the leader in providing every Filipino with both global education and access to educational technology needed for the development of the individual and the Philippines, as a whole.

Visit their website.

 ABS-CBN FOUNDATION, INC. 

ABS-CBN Broadcasting Corporation, already a communications giant in Asia, made a corporate commitment to the public by establishing the ABS-CBN Foundation, Inc. (AFI) in the Philippines. Duly incorporated and registered with Securities and Exchange Commission with SEC. Reg. No. 165508 on July 5, 1989, AFI is a non-stock, non-profit organization. Initially, the AFI was asked to produce television programs for charitable and educational purposes. Its chief concerns then were to generate welfare funds by broadcasting the situations of those in dire need of assistance and ensuring the proper allotment and utilization of solicited help.

Visit their website.

Few families in the Philippines have had a history as colorful and as successful as the Lopezes. Since their beginnings in Iloilo in the early 1800's, the Lopez family members have espoused business excellence, nationalism, and social responsibility.

MILESTONES

2018

  • In June, celebrated 25th year as a conglomerate committed to investments that uplift the lives of Filipinos around the globe.

2017

  • Paid all remaining Parent debt to end the year with no direct obligations.

2011

  • In August, conducted a tender offer for remaining unrestructured debt at par. 
  • In September, accepted and paid tenders for US$ 13.966 million of the Eurobonds and P785.3 million of Long-Term Commercial Papers. Unrestructured obligations of Lopez Holdings to-date stand at US$ 7.5 million, down from the high of US$ 560 million when the company declared a standstill in 2002. 

2010

  • In June, changed corporate name to Lopez Holdings Corporation from Benpres Holdings Corporation to be more closely associated with the Lopez group.
  • In November, received SEC approval for an equity restructuring which reduced the audited December 31, 2009 accumulated losses by P6.76 billion to P937 million. 

2009

  • In August, bought back US$ 260 million of debt from the Avenue Capital Group at a 35% discount on face value. Thus reducing outstanding debt to US$ 70 million. 
  • Lopez Holdings Corporation also sold entire 24.5% stake in Rockwell Land Corporation to First Philippine Holdings (First Holdings) and also sold shares held in Digital Telecommunications Phils. Inc.

2008

  • In November, together with First Holdings, sold combined stakes in FPII (First Philippine Infrastructure, Inc.), which owns the North Luzon toll roads, to Metro Pacific Investments. Corp.

2007

  • Transferred interests in FPIDC (First Philippine Infrastructure Development Corp.) to FPII, a publicly listed company.
  • In November, First Gen won the bid for the government’s 60% stake in PNOC-EDC. PNOC-EDC is the largest geothermal producer in the Philippines with over 1,100MW of steam capacity

2006

  • Exited from Maynilad, thus removing US$ 150 million of guaranteed debt.
  • In July, Bayan launched its wireless local loop service, its answer to competition’s wireless voice and data.

2005

  • Commercial operations of Manila North Tollways Corporation (MNTC) began in February. Tollways Management Corporation, a wholly owned MNTC subsidiary, was contracted to manage and operate the new North Luzon Expressway.
  • In July, Bayan launched VOIP (voice over internet protocol) and reduced the cost of providing DSL.

2004

  • The Pasig Regional Trial Court approved BayanTel's financial rehabilitation. Creditors have, however, appealed the Court's decision.

2003

  • Panay Power Corporation was sold for P2.3 billion. First Private Power Corporation's 20% share from the sales proceeds was distributed as dividends to its shareholders.
  • Lopez Holdings Corporation sold its 100% equity stake in C-Cubed, a 450 seat-call center.
  • Maynilad sought court protection to enable the company to settle its obligations in due time, sustain the gains of privatization and protect the public interest in the West concession.

2001

  • A Master Consolidation Agreement signed between the PLDT Group and the Lopez Holdings Corporation paved the way for the consolidation of the interests of the respective parties in Home Cable and Sky Vision (SKYCable) in Beyond Cable.

2000

  • Lopez Holdings Corporation entered ventures involved in leading edge technology and intellectual resource development. Interests in the New Economy include outsource contact center operator Customer Contact Center, Inc., geographic information system integrator BayanMAP Corporation, location-based content provider FindME.com.ph (Webcast Technologies) and a minority stake in business-to-business electronic marketplace BayanTrade Dotcom, Inc.

1999

  • To prepare for the eventual deregulation of the Philippine power industry, the Lopez Group established First Gen to consolidate its interests in power generation, including the 225-megawatt Bauang power plant, the 72-megawatt Panay power plant, the 1,000- megawatt Sta. Rita power plant and the 500-megawatt San Lorenzo power plant.
  • Lopez Holdings Corporation and JG Summit jointly sold their shares in PCIBank, ending over a decade-long partnership in commercial banking.

1997

  • First Philippine Pipeline, Inc. was formed by First Holdings as a pipeline subsidiary intended to build and operate an oil pipeline north of Manila.
  • First Philippine Balfour Beatty, Inc., a joint venture between First Holdings and Balfour Beatty, Ltd of UK, was established to pursue construction engineering and construction businesses in the country. ECCO-Asia was absorbed as a wholly-owned subsidiary. 
  • First Philippine Union Fenosa, joint venture formed by First Holdings with Union Fenosa, the second largest utility company in Spain, was established to pursue power projects in the country.

1996

  • First Philippine Industrial Park, a joint venture with Sumitomo Corporation of Japan, was formed to develop a 300-hectare modern, efficient and environment friendly industrial park in Batangas.
  • Panay Power Corporation, a joint venture by First Holdings, together with First Private Power Corporation and Panay Electric Company, was established to construct and operate a 72-MW diesel-fired power plant in Iloilo City.
  • Beyond Cable Debt Restructuring: Beyond Cable shareholders and creditors sign a debt restructuring agreement, which included a US million new money infusion in the form of Convertible Notes.

1995

  • Rockwell Land Corporation undertook the development of Rockwell Center, a 15-hectare mixed-use property in Makati consisting of high-rise residential buildings and a retail center.
  • First Gas Holdings Corporation, a joint venture with British Gas plc was formed. Its subsidiary, First Gas Power Corporation (FGPC), built a 1000 MW gas-fired combined cycle power plant to supply power to Meralco on a build-own-operate basis under a power purchase agreement.

1994

  • First Philippine Infrastructure Development Corporation (FPIDC) is organized as the vehicle for investments in the Manila North Tollways Corporation (MNTC), a joint venture with the Philippine National Construction Corporation and Egis Projects S.A. formerly TransRoute International SA of France, now known as part of the Egis Group. MNTC was to rehabilitate and expand the 83-km Northern Luzon Expressway. MNTC completed the 8.8-km segment known as the Tipo-Subic Road in time for the 1996 Summit of the Asia Pacific Economic Cooperation in the Subic Bay Freeport Zone.
  • Maynilad Water Services Inc., a joint venture with Suez Lyonnaise des Eaux, now known as Ondeo, was established to operate and manage the water and wastewater services of the Western half of Metro Manila.

1993

  • Lopez Holdings Corporation listed on the Manila stock market in a P3 Billion initial public offering.
  • Bayan Telecommunications Holdings Corporation (BayanTel), a joint venture with Bell Atlantic of the USA, was formed to engage in fixed-line, international and domestic long distance services, among other telephone company services.

Quality Management

In 2003, Lopez Holdings was certified against the standards of the International Organization for Standardization or ISO 9001:2000 for the provision of management services in Finance and Accounting, Public Relations, and Human Resources as a holding company. In 2006, Lopez Holdings was re-certified for the provision of the same management services, and added Legal Services to the audited processes in its quality management system (QMS). In 2009, 2012 and 2015, Lopez Holdings was certified compliant with the updated ISO 9001:2008 standard.

In 2018 and 2021, it was certified to the ISO 9001:2015 standard. This latest version emphasizes risk-based thinking to enhance the application of the process approach, increases leadership requirements, and improves applicability of the standard for services.

Lopez Holdings was the first holding company in the Philippines to be certified against the Investors in People (IiP) standard in 2009. The IiP framework from the U.K. helps corporations improve business results through best practices in people management. Lopez Holdings was re-certified to IiP in 2013 and 2016, with the latest assessment using the 6th generation IiP Standard.

As part of continuing compliance with its ISO-certified quality management system, the company had the following Quality Policy in 2021:

Lopez Holdings exists to lead in quality management practices and adheres to good corporate governance in the conduct of all business.

We shall innovate and continually pursue improvements in all our services and processes to achieve business excellence.

QUALITY
OBJECTIVES
PERFORMANCE MEASURE/TARGET  RESULTS

 

 To improve the value of Lopez Holdings to stockholders and creditors.

 

Improve the balance sheet / reduce debt

Stock price / move with market

  • LPZ has been debt-free since May 2017
  • LPZ stock price declined by 22% to P2.91  from P3.72), while the PSEi stayed almost at the same level during the same period

To sustain risk mitigation to include organization and mobilization of resources for disaster/emergency response

Participation in risk management process / 100%

  • Investee FPH updated the Lopez Holdings Board Risk Oversight Committee on their top risks on October 28, 2021 
  • All employees on telecommuting work arrangement for the whole year, and monitored daily or self-report through a health questionnaire
  • All persons entering headquarters complied with established health declaration and contact tracing systems
To ensure timely compliance with all applicable regulatory requirements

Timeliness / no penalties
Accuracy / no errors

  • Complied with Occupational Safety and Health standards
  • Tax dues were remitted/paid within deadline, including but not limited to the 1604-CF/1604-E (annual alpha list of suppliers/creditors/ employees) and PSE listing fee for 2020 
  • Required reports were filed compliant with deadlines, as extended by regulators due to the pandemic
  To provide corporate services that adhere to quality management systems and other standards

 

Internal audit / corrective and preventive action

Maintain certifications / pass external audits

 

  • Compliance was consistently monitored during the year through an internal audit program
  • Company was re-certified to ISO 9001:2015 on September 28, 2021

To continue employee behavioral and competency development for at least three training man-days per individual

Duration of training / three training man-days

  • 2021 Training Plan and evaluation of previous year’s training activities were finalized when the Performance Appraisal process was completed

  • Employees attended virtual learning sessions and averaged 4.5 training man-days per individual

To embed the practice of the Lopez Credo and Values in the workplace

Donation / CSR budget

  • Company supported Phil-Asia Assistance Foundation, Inc., a member of Lopez Group Foundation, through the sponsorship of scholars

Lopez Holdings Corporation (formerly Benpres Holdings Corporation) was incorporated in 1993 by the Lopez family of the Philippines to serve as the holding company for investments in major development sectors such as broadcasting and cabletelecommunications; power generation  and distribution; and banking. It added to its portfolio, investments in other basic service sectors but has since sold its direct interest in banking, toll roads, information technology, property development, cable and health care delivery.

Through publicly listed First Philippine Holdings Corporation (FPH), Lopez Holdings maintains interests in energy, real estate, manufacturing, construction and energy services. FPH is the controlling shareholder of publicly listed First Gen Corporation (FGEN), the country’s leading clean and renewable energy producer, with power plants that use geothermal, hydro, and natural gas for fuel. FGEN manages the world’s largest integrated geothermal power producer, publicly listed Energy Development Corporation.

Real estate investments of FPH are in publicly listed Rockwell Land Corporation, developer and manager of premium inner city communities; and First Philippine Industrial Park, the preferred investment community that hosts multinationals in light industries. First Philippine Electric Corporation is the intermediate holding company for FPH investments in lean manufacturing. FPH also controls First Balfour, Inc., a construction and engineering company; ThermaPrime, a geothermal drilling company; and First Philippine Industrial Corporation, the country’s largest commercial pipeline.

Through publicly ABS-CBN Corporation, Lopez Holdings maintains interests in multimedia content creation (news and entertainment program production for television, radio, cable, recording, film, magazine publishing, mobile and internet), converged mobile telecom services (ABS-CBN Convergence, Inc.), international sales and distribution of news and entertainment content, talent management, program licensing and merchandising, and remittance and cargo services.

Lopez Holdings serves as a parent company to conglomerates FPH and ABS-CBN.

Vision
A world class conglomerate committed to investments that improve the lives of Filipinos

Mission
Lopez Holdings will:

(1) invest in industries vital to nation-building;

(2) build on its strengths and competencies in its core power and media businesses;

(3) conduct business in a manner that is mindful of the long-term mutual benefit of the Lopez Group, and the various publics it serves by living the Lopez Credo and its attendant values of a pioneering spirit, business excellence, unity, nationalism, social justice, integrity, and employee welfare and wellness; and

(4) provide the highest standard of service and value to its shareholders, affiliates, regulators, creditors, employees and communities in which it operates.

Values
In fulfilling its mission to serve all Filipinos, Lopez Holdings adheres to the Lopez Values: a pioneering entrepreneurial spirit, business excellence, unity, nationalism, social justice, integrity, and employee welfare and wellness.

The Lopez Credo and Values
The Lopez Credo is a statement of purpose that puts all the Lopez Group businesses in the service of the Filipino and articulates the seven Lopez values to guide corporate decisions and operations as well as employees.

The Lopez Credo
“We, as employees of the Lopez group of companies, believe that our primary reason for being is to serve God and the Filipino people.

Thus, we shall always conduct ourselves in a manner that is mindful of the long-term mutual benefit of the Lopez Group, and the various publics we serve. We will be responsible stewards of all our resources, and conscious of our obligation to present and future generations.

Since 1928, and in the years and generations to follow, our commitment to the distinctive Lopez values will not change as we remain committed to serve our stakeholders. 

The Lopez Values
In our service to the Filipino people, we will be guided by the following distinct Lopez values: 

  • A pioneering entrepreneurial spirit
  • Business excellence
  • Unity
  • Nationalism
  • Social justice
  • Integrity
  • Employee welfare and wellness

We know from generations of experience that it is by living according to these values that a company can be built to last.

The logo shows two wedge graphics as overlapping structures akin to building the nation. The overlap of the two graphics creates a diamond pattern representing a rich history and collective memory on which to anchor stability and sustain future growth. Both wedges go upward and sideways to represent expansion and a forward-looking approach.

The color blue is associated with depth, confidence and truth, symbolizing the Lopez values of a pioneering entrepreneurial spirit, business excellence, unity, nationalism, social justice, integrity and employee welfare and wellness. Green, the color of nature and harmony, represents the Lopez values of unity and concern for employee welfare and wellness. The practice of the Lopez values throughout generations is meant to create companies that are built to last.

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CONTACT US

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
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