Lopez Holdings

 

Remarks of Ambassador Manuel M. Lopez, chairman and CEO, at the Lopez Holdings Corporation Annual Stockholders' Meeting on June 14, 2018
Power Plant Mall Cinema 6, Rockwell Center, Makati City

Magandang umaga sa inyong lahat.

Fellow shareholders:

Lopez Holdings Corporation has moved in favor of sustainability through concrete initiatives of its investees, First Philippine Holdings Corporation (FPH) and ABS-CBN Corporation.

Energy Development Corporation (EDC), which is part of the FPH energy sector, is the first company in the Philippines to achieve carbon-neutral status, or one that absorbs more carbon dioxide than it emits to the environment. In 2017, EDC helped the country avoid 7.5 million tons of carbon dioxide, because of its portfolio of geothermal, wind, solar and hydropower assets. 

Meanwhile, First Gen Corporation (First Gen), EDC’s parent company, entered into an agreement with Philippine Renewable Energy Holdings Corporation (PREHC), and Australian company, for the latter to become a 31.7% owner of EDC. This brought about US$240 million of cash into First Gen, which was used to reduce its debt. More important, the partnership gives international credibility to the clean energy portfolio that we have chosen, one that is consistent with our values. 

Indeed, we can grow the business and at the same time protect the environment and uplift local communities as best as we can. We only need to be determined to create a better home for all of us.

Speaking of a better home, Lopez Holdings and its parent, Lopez, Inc. recently moved to Rockwell Business Center (RBC), its new headquarters, on Sheridan Street in Mandaluyong. RBC Sheridan, as it is called to differentiate it from RBC Ortigas where the First Philippine Holdings offices are located, was proclaimed late last year as an Information Technology Center under the PEZA (Philippine Economic Zone Authority). RBC Ortigas in Pasig and 8 Rockwell in Makati are also registered as IT Centers with PEZA.

The Benpres Building, which served as our headquarters for almost 25 years, will now give way to a high rise that is envisioned to be both energy-efficient and environment-friendly—in other words, sustainable. This will be a four- or five-year re-development under FPH.

FPH and ABS-CBN continue to act strategically to deploy resources where they can best serve our stakeholders.

First Gen’s clean energy portfolio gives it what is probably the lowest carbon footprint among large power producers. FPH continues to expand its units in property development and in manufacturing, which serve important niches in our country’s long-term growth aspirations.

ABS-CBN has the largest digital library among all Filipino content providers, capable of serving customers throughout the country, and almost anywhere in the world—anywhere there is internet or cable or satellite. It continues to support public service programs that help, as well as inspire the very best in our countrymen.

It is also worth noting that ABS-CBN has continued to dominate local television ratings. Excluding specials, the top 10 most watched regularly airing programs in 2017 were all from Channel 2. And ratings should only get better with half of Metro Manila homes already using digital terrestrial television or DTT. Achieving signal parity with the competition will only emphasize the superior quality of programs shown on ABS-CBN.

In addition, ABS-CBN Film Productions, Inc. (more popularly known as Star Cinema) dominated the silver screen, with 8 of the 10 top grossing local movies in 2017. These movies were also received well by overseas Filipinos, as international box office performance accounted for 17% of total box office revenues.

Indeed, as we celebrate this year (2018) our 25th founding anniversary as a corporation committed to investments that improve the lives of Filipinos, the future continues to look bright for our companies.

At this point, may I introduce a new member of the Board of Directors, Ambassador Lilia Bautista. She replaces th elate Washington SyCip as independent director.

The board of directors, management and staff of Lopez Holdings thank you for your trust. 

Magandang umaga sa inyong 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