Biz Buzz: Ayala at 180
As an enthralling prologue to “Inside Ayala,” a book published by the storied Filipino conglomerate in celebration of its 180th anniversary, Ayala Corp. chair emeritus Don Jaime Zobel de Ayala—handwritten in classic script using the traditional fountain pen— wrote a four-page message that’s both a memoir and a call for the future generation of leaders within the group to further build on the rich legacy.
“Many different values hold a company together, from the hard work and determination and rigorous thinking that it takes to build and grow its business, to the invisible and indelible principles that guide it at every step. Inside Ayala, these are our core and our constant engine, always moving us forward, even now as I pause to look at the past and regard the long future ahead,” the patriarch said.
Zobel de Ayala traced his own beginning as an apprentice fresh out of Harvard, doing secretarial work, running errands and even learning how to drive a bulldozer (without much success, based on his reckoning) at age 24. He narrated how he found himself in the circle of stewardship in 1983 at a tumultuous period that would eventually mark the return of democracy to the country. He took pride in his sons Jaime Augusto and Fernando for charting the course of a “New Ayala”diversified, expanding and aligned to national development. He hopes that the next generation will “bring new directions and new technologies and a management style suited to the modern world.”
“Seven generations after the story of Ayala began, I am deeply proud to be here with you, writing the rest of the story,” the patriarch said.—Doris C. Dumlao
Standing ovation for Tony
During his last stockholders’ meeting as president of Ayala Land Inc., the retiring Antonino “Tony” Aquino, 66, was given by shareholders a standing ovation for his “exceptional leadership” since taking over the helm in 2009.
“He came back to Ayala Land at a critical time of intense competition and a business environment that was challenged by the uncertainties brought about by the global financial crisis. His tireless energy and unique leadership skill rallied the entire organization to redefine its businesses and reinforce its dominance in the Philippine real estate market,” said ALI chair Fernando Zobel de Ayala.
Since Aquino assumed leadership, ALI expanded residential unit launches from only 2,229 in 2009 to 28,482 in 2013 while net income nearly tripled from P4 billion to P11.7 billion—achieving ahead of time the company’s target of 5-10-15 (in five years, to post P10 billion in net income and 15-percent return on equity).
By the end of 2014, ALI would have doubled its retail leasing space, tripled its office leasing portfolio and quadrupled the number of rooms in its hotel portfolio from the time Aquino took over in 2010.
In his first briefing as ALI president, the 50-year-old Bernard Vincent “Bobby” Dy said Aquino had led the company to “unprecedented heights” and vowed that the management under him would be committed to the same vision and continuing a tradition of “building large-scale mixed-use communities and improving the quality of life for Filipinos.”—Doris C. Dumlao
Philam to National Museum
Aside from lending seven famed collections of National Artist Vicente Silva Manansala, Philam Life has also donated P1 million to the National Museum.
Museum director Jeremy Barns said the donation would be used to improve the museum facilities as a whole—not just for the upkeep of the renowned Filipino cubist painter’s masterpieces now displayed at the newly designated Philam Life Hall.
The iconic Manansala series was commissioned in 1961 by the insurance firm for its former building along United Nations Ave. in Ermita, Manila, which last year was sold to property developer SM Development Corp.
As Philam Life eventually moved to its present Bonifacio Global City headquarters, it was decided that the National Museum is the perfect home for Manansala’s “Manok,” “Kalabaw,” “Magsasaka,” “Pamilya,” “Harana,” Pagkain” and “Isda.”
“It’s better to have them here and have the public see them than keep them within the realms of our office where only a few people can see it every day,” Philam Life president Rex Mendoza said.
Mendoza shared that “a lot” of auction houses have actually approached Philam Life to acquire the Manansala panels—“the starting bids that they gave us were really jaw-dropping; nine digits, minimum,” he said.
According to Mendoza, his houses are also adorned with local paintings—he has a 1962 Manansala as well as works of Joya, Luz, Marcel and Lao, among other Filipino artists.
“Sometimes, you’re more attached to your own,” Mendoza said of his fondness for Filipino artworks, adding in jest that “Baka wala pa akong perang pambili ng (I might don’t have enough money to buy) foreign.”
He said that while his abodes have contemporary modern designs, they also showcase native and tropical motifs, hence, “pang-Filipino.”—Ben O. de Vera
4th PSE term
For the fourth straight year, the tandem of Jose “Titoy” Pardo (chair) and Hans Sicat (president) will likely get a fresh mandate to lead the board of the Philippine Stock Exchange during the local bourse’s upcoming stockholders’ meeting this May 24.
Based on the PSE’s official list of candidates, there are exactly 15 names who will vie for 15 available seats in the board, seven of whom are stockbrokers: Eddie Gobing (Lucky Securities), Eusebio Tanco (Venture Securities), Emmanuel Bautista (Deutsche Regis Partners), Ma. Vivian Yuchengco (The First Resources Management and Securities Corp.), Francis Chua (BA Securities), Alejandro Yu (R.S.Lim & Co.) and David Chua (Asia Pacific Capital Equities).
The other nonbroker board members who are up for reelection are Anabelle Chua (Philippine Long Distance Telephone Co.), Robert Vergara (Government Service Insurance System), Amor Iliscupidez (San Miguel Corp. Retirement Plan) and Edgardo Lacson (Philippine Chamber of Commerce and Industries).
Of the eight non-brokers, three are independent directors, including Pardo, an entrepreneur and a former finance and trade secretary while the two others are Cornelio Peralta and Dakila Fonacier.
No challengers even for a seat or two? Challengers in the past found out how difficult it is to swim against the tide. Doris C. Dumlao
Trading school
Edmund Lee, youngest son of Edward Lee who founded the country’s largest online stockbrokerage COL Financial, has quit his job analyzing equities at the research unit of COL to set up an enterprise that’s still in line with his dad’s financial literacy advocacy.
The younger Lee put up Caylum Trading Institute (CTI), a private, financial educational institute that focuses on developing professional traders who can execute effective trading strategies across global markets.
Caylum (derived from Latin word for “celestial”) seeks to offer a global standard of financial education with stocks as the instrument of choice. Just like the increasing number of affluent college or fresh out-of-college kids taking culinary courses because it’s an increasingly attractive profession, the elder Lee says there’s similarly a good demand for stock-trading education that can be applied across global markets.
Caylum’s philosophy is that stock trading is not a game but a business and vows to help students make it their profession. Of course, Caylum is also a prime source of recruitment for COL.
So how much does it cost to learn the basics of global stockmarket trading? A long course (thrice weekly for eight weeks) costs about P70,000 and the first batch will start this June. The short course (for four days) costs about P20,000. Classes for the short course will start by mid-April.—Doris C. Dumlao
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