Investing in Philippines: Who are the Lopezes

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Sunday, April 3, 2011

Who are the Lopezes



These are among the businesses run by the Lopez family. Started by Eugenio Lopez, Sr. after the second World War, he joined the budding broadcasting industry when he established Chronicle Broadcasting Network(CBN). Later on he was able to acquire Alto Broadcasting System and renamed the company ABS-CBN Broadcasting Corporation. Also Eugenio Lopez, Sr. together with other Filipino investors acquired Manila Electric Company which now known as Meralco.


From then on the business was continued by his children  Geny(Eugenio Lopez, Jr.), Oscar, Manolo, Presy, and Robby.

There business is composed of diversified interest in various industries at the same time coupled with various foundations to continue the legacy of Don Ening(Eugenio Lopez, Sr.). 

Eugenio Lopez, Sr. is not only well known because of the businesses he built but also he is known as one of the country's model philanthropist. 

Quoting his words :

The old business tenets have given way to the modern concept, which is not based on profits alone, but rather on the service it can render and the contribution it can make to the prosperity and progress of the nation as a whole.  

Below is  a list of their business(source: Wikipedia.org)

Parent Companies

Lopez Inc. - is a private holding company of the Lopez Family which owns 52.6% of Benpres Holdings Corporation which will be renamed as Lopez Holding Corporation after the approval of the stockholders during their annual stockholders meeting this June 2010. Headed by Presentation Lopez-Psankis.

Lopez Holdings Corporation (formerly Benpres Holdings Corporation) - Lopez Holdings was incorporated in 1993 by the Lopez family to serve as the holding company for investments in major development sectors such as broadcasting and cable; telecommunications; power generation and distribution; and banking. It added to its portfolio, investments in other basic service sectors but has since sold its interest in banking, toll roads, information technology, property development and health care delivery. Lopez Inc. holds 52.6% of Lopez Holdings Corporation.

Selected businesses

Media and Telecommunications

ABS–CBN Corporation - is in the business of producing entertainment, news and information programs and in the continuous adoption of breakthrough technology to deliver these to its audiences not just in the Philippines, but globally through The Filipino Channel. This content is distributed primarily in the Philippines through its flagship station ABS-CBN Channel 2. Last May 2010, the board of directors and stockholders of ABS-CBN Broadcasting Corporation approved the dropping of "broadcasting" to its corporate name and changing it to ABS-CBN Corporation.

Sky Vision Corporation - or SkyCable was incorporated on March 25, 1991 and started commercial operations on February 1, 1992. The economic interest of Benpres in Sky Vision stood at 65.3% as of December 31. 2008. Sky Vision owns and operates cable television service providers which offer the brands SKYCable and SunCable. The major cable companies under Sky Vision are Sky Cable Corporation (formerly Central CATV, Inc.) for Metro Manila and Pilipino Cable Corp. for 22 provincial systems nationwide.

Bayan Telecommunications Holdings Corporation (Bayan Holdings) - owns Bayan Telecommunications, one of the telecommunications company in the Philippines providing a full range of services which includes local exchange, domestic long distance, international long distance, data services and payphone services. As of December 31, 2008, Benpres held 69.1% Bayan Holdings.

Power and Energy

First Philippine Holdings Corporation - First Philippine Holdings Corporation (First Holdings) is a holding company whose core businesses are in power generation and distribution, with strategic initiatives in manufacturing, property and infrastructure.

Power generation

First Gen Corporation - is the holding company of First Holdings in power generation and energy related businesses. First Holdings owns 67% of First Gen.
    
First Gas Holdings Corporation - First Gas Holdings Corporation (FGHC) is the holding company for the development of gas-fired power plants and other non-power gas related businesses. FGHC is 60% owned by First Gen and 40% owned by BG Consolidated Holdings (Philippines) Inc.
    
FGP Corp. - FGP is 60% owned by Unified Holdings Corp. of First Gen. and 40% owned by BG Philippines Holdings, Inc.
    
FG Hydro Power Corporation -First Gen Hydro Power Corporation (FG Hydro) was incorporated as a wholly-owned subsidiary of First Gen.
    
FG Bukidnon Power Corp. - First Gen Renewables, Inc. (FGRI), formerly known as First Philippine Energy Corporation, was established in 1978 to develop prospects in the renewable energy market. First Gen owns 100% of FGRI.
    
Bauang Private Power Corporation- First Private Power Corp. (FPPC) was established in 1992 to engage in power generation as an independent power producer. FPPC is 40% owned by First Gen. Today, it owns 93.25% of Bauang Private Power Corporation (BPPC).
    
Energy Development Corporation - Energy Development Corporation (EDC), established in 1976,accounts for more than 60% of the country’s installed geothermal capacity. Its plants are located in the provinces of Leyte, Negros Oriental, Negros Occidental, Bicol and North Cotobato. n November 2007, First Gen Corporation bid for and won a 60-percent economic stake in EDC.

Power distribution

Meralco (previously Manila Electric Company) - bought in 1962, and developed into a power-distributing company. First Holdings, now owns 6.7% stake in the company after selling it's 26.6% stake to Pangilinan's led-MPIC and Pilipino Telephone Corp. last year.
    
PECO (Panay Electric Company) - First Holdings entered into a joint venture with the Panay Electric Company, Inc. (PECO) in March 1996 for the construction of a US 72 million diesel-fired power plant in Iloilo City. First Holdings acquired a 30 percent equity in PECO. In turn, PECO subscribed to a 30 percent equity interest in Panay Power Corporation. First Holdings currently owns 30% of PECO.


Property

Rockwell Land Corporation (RLC)- a high-end real estate development corporation initially tasked to developed the Rockwell Center in Makati City. Rockwell Land was established in 1995. It is currently owned by Meralco (51%) and First Holdings (49%). First Holdings is in talks with the Meralco for the purchase of additional stake in RLC.
    
First Philippine Industrial Park - First Philippine Industrial Park (FPIP) is a 315-hectare industrial estate. FPIP is a joint venture with Sumitomo Corporation of Japan which owns 30% while First Holdings owns 70%, formed in 1996 to develop an industrial park located in Sto. Tomas, Batangas.
    
First Philippine Realty Corp. - formerly known as INAEC Development Corporation. It is primarily engage in the acquisition, disposal, or lease of real and personal property. FPRC is a wholly-owned subsidiary of First Holdings.

Infrastructure

First Balfour, Inc. -is one of the country’s largest engineering and construction companies today, with 40 years in business. First Balfour, Inc. is a wholly-owned subsidiary of First Holdings.
    
First Philippine Industrial Corp.- owns and operates the sole, largest commercial oil pipeline in the country, transporting crude and refined petroleum products from Batangas to Metro Manila. FPIC is 60% owned by First Holdings, in partnership with Shell Petroleum Co., Ltd. (UK) which owns 40%.

Manufacturing

First Philippine Electric Corp. (First Philec)

Philippine Electric Corporation (Philec)

First Electro Dynamics Corporation (FEDCOR)
    
First Philippine Power Systems, Inc. (FPPS)
    
First Sumiden Circuits, Inc. (FSCI)
    
First Sumiden Realty, Inc.
    
First Philec Solar Corporation

Bills Payments

CIS (Corporate Information Solutions) Bayad Center, Inc. - (CBCI) Originally known as the Payment Collection Service, a division of Corporate Information Solutions, Inc. (CIS) in May 1997. Orginally intended for accepting payments for Lopez companies and affiliates, it eventually catered other companies and services as well.

Social responsibility foundations and initiatives

Lopez Group Foundation
    
ABS-CBN Foundation, Inc.
    
ABS-CBN Bayan Foundation - formerly ABS-CBN Bayan Microfinance
    
Bantay Bata 163
    
Don Senen Gabaldon Foundation
    
Eugenio Lopez Foundation - formed in 1968 to give access to a private collection of books, artworks, and artifacts
    
The Lopez Memorial Museum
    
First Philippine Conservation - formed in 1999 to support Conservation International-Philippines
    
Knowledge Channel Foundation
    
Meralco Millennium Foundation
    
71 Dreams Foundation - headed by Fr. Tito Caluag, S.J.; it was formed to assist the families of the Wowowee stampede.
    
Save The La Mesa Watershed
    
Save the Pasig River
    
Lopez Lifelong Wellness

Former businesses

Maynilad Water Services - joint-venture between Benpres Holdings Corporation and Ondeo Water Services, Inc. (formerly Suez Lyonnaise de Eaux). Benpres left the joint-venture in 2006 in order to settle a debt of US$150 million.
    
The Medical City - in April 2008, Benpres sold entire its 18% stake in The Medical City to Lombard for Php600 million.
    
Tollways - in 2008, First Philippine Infrastructure Development Corporation and Manila North Tollways Corporation were sold to Metro Pacific Investment Corporation.
    
Philippine Commercial International Bank - a joint venture between Benpres and JG Summit Holdings. Both sold their shares in 1999 which gave way to the Equitable PCI Bank merger and eventually became Banco de Oro Universal Bank.

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