Latest Stories

Ayala electronics firm to stay listed

Ayala-led Integrated Microelectronics Inc. has committed to remain listed on the Philippine Stock Exchange, expecting to pursue an initial public offering by the end of 2013 or next year.

When the electronics manufacturing services firm listed by way of introduction, or without an IPO in 2010, it was required to conduct a public offering within a year but it was unable to do so because of weak market conditions. It had to seek a grace period from PSE on the IPO requirement although at the end of last year, it was able to comply with the minimum public float requirement of 10 percent for continuing listing.

“Our interest is to stay as a listed company on the PSE,” Jaime Augusto Zobel de Ayala said during the company’s stockholders’ meeting yesterday.

In a press briefing after the stockholders’ meeting, IMI chief finance officer Jerome Tan said IMI would like to get the “optimum” price when it sells shares to the public. At present, however, he said global market conditions were still quite soft and not favorable for the export-oriented IMI to rush into the market.

IMI has grown from a Philippine-based electronics manufacturer in 2002 to a global company with manufacturing and engineering hubs in Asia, North America and Europe. Only 24 percent of its production capability is anchored on the Philippines. The company has grown to be the 20th biggest electronics manufacturing (EMS) services provider in the world in terms of revenues, based on a ranking made by US-based EMS trade publication Manufacturing Market Insider.

Tan said there were signs of a global recovery this year, saying the possible timetable for an IPO could be either at the end of this year or next year.

“Despite global uncertainties and challenges in major markets, we are undaunted that we will soar higher in 2013,” said IMI president Arthur Tan during the stockholders’ meeting. During the briefing, he added that this year would likely be better for the company in terms of revenues, net profit and margins.

IMI grew consolidated sales revenues by 15 percent last year to $661.8 million, resulting in a net profit of $5.4 million compared to $3.3 million in 2011. The double-digit rise in revenues was on the back of acquisitions as well as the business expansion of key customers. Doris C. Dumlao



Follow Us

Follow us on Facebook Follow on Twitter Follow on Twitter

Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Business , Integrated Microelectronics Inc. , PSE , public offering

Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94


  • Drilon denies involvement in pork scam
  • Complex health care system for California’s elderly and poor explained
  • Malang the croc must regain strength before return to swamp, says mayor
  • Palace: Lacson’s version of Napoles testimony to be evaluated
  • Scientists eye iceberg bigger than Guam
  • Sports

  • Guiao summoned by PBA for name-calling incident
  • Promoters Dela Hoya, Arum in talks for Pacquiao-Alvarez—report
  • Benzema guides Madrid to 1-0 win over Bayern
  • Suns’ Goran Dragic win NBA’s Most Improved Player award
  • Heat go up 2-0, hold off Bobcats 101-97
  • Lifestyle

  • Gongs and southern dances star in a workshop at San Francisco Bayanihan Center
  • This woman ate what?
  • Photos explore dynamics of youths’ sexual identity
  • 12th Philippine Food Expo set at the World Trade Center
  • No tourist draw, Malang the croc will remain wild
  • Entertainment

  • Smithsonian wants photos, videos for ‘Day in the Life of Asian Pacific Americans’
  • What Garcia Marquez left behind
  • Has Ai Ai fallen deeply with ‘sireno?’
  • Sony developing live-action Barbie comedy
  • California court won’t review Jackson doctor case
  • Business

  • Metro Pacific acquires stake in Victorias
  • How ‘one percent’ economic elite was uncovered
  • Facebook profits triple as mobile soars
  • Insular Honors Sales Performers at Testimonial Rites
  • Apple increases stock buyback, will split stock
  • Technology

  • Enrile in Masters of the Universe, Lord of the Rings?
  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • ‘Unlimited’ Internet promos not really limitless; lawmakers call for probe
  • Viber releases new design for iPhone, comes to Blackberry 10 for the first time
  • Opinion

  • Editorial cartoon, April 24, 2014
  • Talking to Janet
  • Respite
  • Bucket list
  • JPII in 1981: walking a tightrope
  • Global Nation

  • Obama to visit Filipino soldiers in Fort Bonifacio
  • Fil-Am youth conferences unite under one theme
  • Embassy advisory: Filipinos still need visas to enter US
  • No travel restriction to Mideast, DFA clarifies
  • PH-HK relations repaired, but families of victims still being courted
  • Marketplace