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Wednesday, September 18, 2019

Aboitiz growth anchored on advancing business communities

ABOITIZ Equity Ventures, Inc. (AEV) is determined to remain growth-driven for the remainder of the year, in pace with the Philippines’ positive growth trajectory, as the company’s business units (BUs) pursue various expansion plans that equally prioritize growing the business while developing communities.

The Aboitiz Group launched its group purpose “To Drive Change for A Better World” and refreshed brand positioning “Advancing Business and Communities” at the company’s annual stockholders’ meeting at Fairmont Makati.

“Aligned with the country’s continued economic growth, the Aboitiz Group’s own growth journey remains promising and purpose-driven. We are going to drive change for a better world by advancing business and communities through the various products and services that our business units provide,” Erramon Aboitiz, AEV president and chief executive officer said.

“We advance business and communities by powering progress, providing smart banking solutions, creating partners for growth, building infrastructure, and empowering communities. Through our core businesses, we contribute to nation building, helping uplift the lives of millions of Filipinos,” Aboitiz added.

AboitizPower is committed to expanding its power generation capacity to 4,000 MW by 2020 to help the nation address its power requirements. On top of new acquisitions, the company will continue to execute its Gentailer (generator-retailer) Strategy through Open Access, and continue to look for opportunities to enhance and balance its energy portfolio.

UnionBank will pursue collaborations and partnerships with financial technology firms, put in place IT, risk management, and compliance systems, while continuing the execution of its digital transformation strategy.

Pilmico will continue to expand its customer reach in the Asean region; expand its feed mill capacities in Iligan and Tarlac; export animal feeds to Vietnam, Indonesia, and the Pacific; and target 20,000 sow level for hog farms and one million birds for layer farms.

Aboitiz InfraCapital will continue to participate in public infrastructure projects while APO Agua is expected to break ground on its new water treatment plant.

AboitizLand will fully transition to becoming a national player with the completion of its headquarters transfer from Cebu to Manila. With remaining 500 hectares landbank available for development, the company is constantly on the lookout for new land to acquire while keeping on track developments on its residential, commercial, and industrial projects.

“Beyond business, we have invested substantially in ventures of social significance, believing that our businesses must touch the lives of people in a meaningful way, creating a better world that will be enjoyed by current and future generations,” Aboitiz added.

The AEV, along with its business units, aims to spend P76.7 billion in capital expenditures this year, or up 83 percent versus P42 billion spent last year, on the back of sustained optimism over the country’s economic growth prospects, particularly in the power and infrastructure sectors. (PR)
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