Energy Development Corporation
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APRIL 2012 www.lopezlink.ph Happy birthday, OML! Chairman emeritus launches new contest. See story on page 2. http://www.facebook.com/lopezlinkonline www.twitter.com/lopezlinkph EDC: King of the hill WHERE in the world is Energy Development Corporation (EDC)? EDC, one of the world’s largest producers of geothermal energy, is exporting its expertise in Chile after bagging its first international concession areas in the South American EDC: King country early this year. Turn to page 6 of the hill Nomination for ABS-CBN drive Summer essentials inspires kids to from Power Plant LAA begins …page 5 ‘bida’ best!…page 4 Mall…page 12 Lopezlink April 2012 NEWS BIZ NEWS Lopezlink April 2012 Birthday thoughts EL3: ABS-CBN finds Meralco shareholders to receive Rockwell Land shares FILIPINO stockholders of The electric utility’s board curities and Exchange Com- preferred shares with a par Meralco, meanwhile, is seek- Meralco shareholders within fulfillment in inspiring Pinoys Meralco as of March 23 will of directors in February 2012 mission (SEC) and the Phil- value of P0.01 each. ing SEC approval to distrib- five trading days after securing ippine Stock Exchange by “We look forward to the ute the property dividends to The following is an excerpt from inspire the Filipino through receive 2.818 shares of Rock- declared its 51% equity in all approvals from the SEC and OML on Wellness well Land Corporation for ev- Rockwell Land as property way of introduction. Rockwell listing of Rockwell Land. We Meralco shareholders. It plans the PSE. Target listing date is the welcome address by ABS-CBN shows that reflect their values, Land proposed to list all its have built one of the strongest to distribute 3.18 billion com- president Eugenio Lopez III dur- that affirm their self-worth ery Meralco share held. Foreign dividend. This required Rock- on or before May 14. 6.23 billion common shares brands in the property devel- mon shares of Rockwell Land ing the 7th Pinoy Media Congress and recognize their strengths. shareholders will receive the well Land Corporation to With the approval of the on the PSE. The company has opment sector, and are happy as property dividends, or in the property dividends, Rockwell held at Colegio de San Juan de The fulfillment that you cash equivalent. apply for listing with the Se- and Nationalism an authorized capital stock of to give the public an opportu- case of foreign Meralco share- Land will be a subsidiary of Letran on March 1-2, 2012 experience by doing something Charlemagne, Ferdinand and do, OML invited employees P9 billion consisting of 8.89 nity to share in the Rockwell holders, the cash equivalent. WHEN I was young and my that has a positive impact on First Philippine Holdings Isabella, Dante and Chaucer in a recent email to write billion common shares with a growth story,” said Rockwell The property dividend is father Eugenio Lopez Jr. was the lives of people is a more Corporation. (Carla Paras-Si- were among the famous pil- their suggestions on how to EDC posts P615M par value of P1 and 11 billion Land president Tong Padilla. expected to be paid out to son) grims who had walked the practice Nationalism, another already running ABS-CBN, lasting reward than the glam- Camino through the centu- Value particularly cherished I saw him being consumed by our and the pay. net income for 2011 ries. in the Lopez Group. his passion. He worked day and To millions of Filipinos Wellness Seemingly anachronistic night, weekends and holidays, out there, the media are their ENERGY Development Cor- hits, primarily the P5.1B write- At 100 kilometers, the now in the age of globaliza- but never complained. So, I source of inspiration and em- poration (EDC) posted a cu- off of Northern Negros and the MiningBy Carla Paras-Sison debate far from over thought to myself, he must be powerment. They also look at mulative net income of P615 P1.21B of forgone steam sales of Camino quest, which he tion, OML upholds this ABS-CBN chairman and CEO began on April 3, rein- Value as still “relevant and doing something that he really media as the institution that Gabby Lopez opens Pinoy Media million for the year ending Bacman. We are working hard to THE mining debate is far health. She offered ecotourism forces OML’s important for our country.” liked and enjoyed. will stand up for their welfare Congress Year 7 December 31, 2011, 86% lower attain our targeted third-quar- from over with representatives and high-end aquaculture and tag as the After all, it was Nation- As soon as I joined ABS- when all else fails. than the P4.4 billion declared ter 2012 recommissioning of of indigenous peoples and agriculture as livelihood al- chairman alism that impelled his fa- CBN, I learned that media We live in a country that The media, through the in 2010. the 130-MW Bacman Plants,” small-scale miners expected ternatives for communities in who truly ther, Eugenio Lopez Sr., to people truly liked what they’re has been waiting for so long communication of the right The noncash impairment of EDC president and COO Rich- to grace the next forum for proposed mining sites. walks his purchase Meralco from the doing despite all the stress, for prosperity, peace and pride. values, through advocacies, P5.1B taken during the year ard Tantoco said. members of the Management Also at the forum was W e l l n e s s Americans in 1961; and his all the hardship, even all the It cannot be achieved by the through fair and honest infor- on the Northern Negros Geo- The full impairment of Association of the Philippines conservation and develop- talk. strong belief in the capability frustrations and the dangers. President alone, not even all mation, can play a big role in thermal Project (NNGP) was NNGP will be cash accretive (MAP), the Financial Execu- ment consultant Clive Wicks, L o p e z of his countrymen inspired Yes, it’s common to hear them the senators and the congress- making change happen. the major contributor to the as the project incurs an annual tives Institute of the Philip- coauthor of Philippines—Min- Group em- him to install all-Filipino en- say “nakakapagod, nakakaiyak, men and all elected officials. To make the Philippines a substantial decline in the com- cash operating cost of P800M pines (Finex) and the Philip- ing or Food, a report published ployees firstgineers and managers in the ayoko na talaga!” But in truth, True and lasting change can better place, there’s still a lot pany’s net income. Also con- from its suboptimal operations. pine Chamber of Commerce in 2009 which documents put on their acquisition. gustung-gusto pa nila and they only happen if we, all citizens of work to be done. And such tributing to the decline was the “The impairment decision and Industry (PCCI). the large-scale destruction cross trainers for the Walk “When it was our turn will never give up. of this country, can become the work is waiting for you, young P1.21B of forgone steam reve- taken on NNGP, albeit costly, Pro- and anti-mining of island environments and the Talk series in 2006. How- to run the Lopez Group, my At ABS-CBN, we find change that we want to see, as people who wish to work in nues resulting from EDC’s ac- was necessary to clear the issue leaders engaged in passionate people’s livelihoods in mining ever, a wellness policy has brothers Geny, Manolo and meaning in making shows that Mahatma Gandhi said. media. quisition of the Bacman Power with finality,” Tantoco added. discussion as they presented areas. Together with coauthor been in place since the 1990s, I expressed our adherence to Plants to which the company The decline in net income their respective positions on Robert Goodland, Wicks had particularly in the First the Lopez Value of National- supplies the steam. This has was partially offset by the P1.1B the issue at the Conference on proposed a moratorium on Holdings Group. The scope ism by investing in businesses ABS-CBN execs meet future also impacted on the company’s revenues from FG Hydro’s sale Mining’s Impact on Philippine new mining and a review of of the Executive Recharging whose operations improved recurring net income which of ancillary services. FG Hy- Economy and Ecology, held existing mining projects to planted over 15 million trees Manuel Pangilinan, chair- and Training Program was the Filipino’s quality of life. decreased by 27.5% to P5.2B dro, a subsidiary of EDC, is the on March 2, 2012 and jointly ensure proper systems are in in the last five years, and that man of Philex Mining Corpo- broadened to become the We were also not afraid to media practitioners in from P7.2B the year before. operator of the Pantabangan- organized by MAP, Finex and place to protect indigenous LSM has allowed small towns ration, said most mining sites Corporate Wellness Program, fight for what we thought was “2011 was a difficult year -be Masiway hydroelectric power PCCI. peoples and the environment. like Bataraza in Palawan to are not ideal for tourism nor TO celebrate his 82nd eventually transforming into in the national interest even cause we had to absorb sizable plants. (Toni Nieva) Leo Jasareno, director of Social justice issue become a first-class municipal- agriculture, citing Philex mines birthday, Lopez Group Lopez Lifelong Wellness to if it meant standing up to po- 7th Pinoy Media Congress the Mines and Geosciences Economist Christian ity and rank second in income in Padcal and Surigao which chairman emeritus Os- include the rest of the Lopez litical powers and sacrificing ABS-CBN finds meaning in can bring about change by Labayen, Regional Network Bureau of the Department of Monsod said mining was a so- and in equity in the province.