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FPIP: the Benchmark

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FPIP: the Benchmark September 2010 ABS-CBN Foundation needs you. Sign up for this one-of-a-kind run at www.101010runforpasigriver.com and make history! Available online at www.Lopezlink.ph FPIP: The benchmark Surging 1H financial for RP industrial parks BATANGAS in the mid-1990s was a vast expanse of land over- Manuel Lizardo Jr. of the corporate services department likened performance… page 2 run with grass. The neck-high weeds soon gave way to an ordered FPIP to a “subdivision, only industrial” where tracts of land, ready- landscape of wide avenues lined with spanking new buildings, plus built facilities (RBFs) and built-to-suit facilities are sold or leased to utilities and the other infrastructure that make the workaday life manufacturing companies, mostly multinationals. smooth and hassle-free for thousands of Filipino workers. “The Lopez Group has poured billions into this place, it’s The Lopez Group in 1997 put up First Philippine Industrial a big investment, part of the Lopez Credo of nationalism and Park (FPIP), a 315-hectare industrial property that straddles the pioneering, entrepreneurial spirit,” Lizardo said. He cited FPIP’s municipality of Sto. Tomas and the city of Tanauan at the edge of world-class infrastructure and facilities that include much wider- Batangas, as a response to then President Fidel V. Ramos’s call for than-standard road networks, all-underground cable systems, and big business to contribute to nation building and help draw foreign dedicated industrial utilities. Another feature unique to FPIP investors to the Philippines. is its three eco parks/forest trails that are home to a wide variety Developed and managed by FPIP Inc., the park is touted as the of hardwood and indigenous plants and trees. These eco parks best of its kind in the Philippines, with its combination of unique offerings and special advantages. Turn to page 6 Gina Lopez is new Pasig River rehab chief … page 3 Balls brings Georges St. Pierre to Manila! … page 5 2 3 Lopezlink September 2010 Lopezlink September 2010 Lopez Group 1H performance ABS-CBN statement on Aug. 23 hostage tragedy Surging financial results MEDIA’S job is to tell the team, we held back interviews pulling away from the coverage JANUARY TO JUNE 2010 FINANCIAL RESULTS (Unaudited) story, but no story is worth even which could compromise their but a man was crying for help. PUBLICLY listed companies plants is an integral compo- cial performance of affiliates Net income attributable to equity one life. plans and/or location. In other countries around TOTAL REVENUES associated with the Lopez nent of our forward integration EDC and First Gen Hydro holders of the parent company We will always cooperate 6. After the police tried to arrest the world, governments set the Group are on track for record growth strategy. Despite inves- Power Corporation. Affiliate 2009 2010 % change 2009 2010 % change with authorities in trying to the hostage taker’s brother, our ground rules for situations like operational and financial per- tor concerns on the immediate Red Vulcan Holdings Corpo- resolve complex situations like team physically stepped back this. One network cannot uni- the Aug. 23 hostage crisis. formances with revenues and impact of loss steam revenues for ration likewise benefited from ABS-CBN P11.686B P16.839B +44 P813M P2.265B +179 to comply with police request. laterally declare a news black- profits, posting strong year-on- the Bacman acquisition, EDC’s a deleveraging program made If the government had called Lopez Holdings P11.686B P16.839B +44 P475M P11.376B +2,295 7. After the assault began, we out. Press freedom issues take a year growth in the first semes- purchase of the power plant re- possible with the successful for a news blackout, ABS-CBN EDC P10.708B P13.022 B +22 P2.595 B* P5.224B +114 tried to limit our shots to avoid back seat during situations like ter of 2010. mains value-enhancing for the P15.0B rights offering of First would have supported it. showing police movements. this—where the government EDC net income soars 114% First Gen $526.2M $655.4M +24 $19.4 M $50M +158 company,” EDC president and Gen in January 2010. We are done with an initial We stayed with extreme close- already has the power to define FPHC P30.026B P34.244B +14 P849M P24.912B** 2,834 Combined power plant oper- COO Richard Tantoco said. “… Our financial normaliza- New PRRC chair Gina Lopez with Pres. Aquino and members of the Lopez family. assessment of our coverage and ups or wide shots. the terms to media. P94.459B P127.463 +35 P3.211B P4.850B +51 ations boosted the financial per- The company’s core net tion program continues to be Meralco continue to review our policies. 8. We immediately complied We are taking the public’s formance of geothermal leader income increased by 89% to a priority for First Gen. And *Including P1.278B foreign exchange gain We exercised self-restraint when police asked us to turn views to heart. Monday’s Energy Development Corpora- P4.85B from P2.57B. (Toni while our First Gas plants con- **Including P23.619B combined gain on the sale of Meralco shares (6.6%) to Beacon Electric Asset Holdings Inc. Gina Lopez appointed on Monday: off our lights explaining the tragic events triggered intense tion (EDC) as it posted a 114% Nieva) tinue to contribute solid results, and the mark-to-market restatement of its Meralco shares 1. We refused to air the hostage grainy shots viewers com- soul-searching for us. Such is First Gen attributable net increase in its income for the the positive effects of the man- taker’s threats live about a 3 plained about. the irony of a profession that income up 158% first six months of the year. agement focus we are putting ed for 98%, increased by 35% to deepen the synergies among the year. Consequently, total pm deadline to avoid fuelling 9. We avoided tampering with wields so much power but relies EDC earned P5.74 billion for First Gen Corporation re- to improve the value of EDC P127.5B in the first six months our different subsidiaries and reported net income for the as PRRC chief public fear. evidence at crime scene. In- entirely on self-doubt to gain— the first half of 2010, more than ported attributable net income is clearly evident in its stronger of 2010. place them on an even stronger first semester reached P2.27B, GINA Lopez is now the chair dang of the Palace Communica- ing 120,000 registered runners for 2. We refused to air the hostage stead, we asked Soco to shoot and keep—its credibility. double the P2.69B registered of $50 million in the first se- results…,” First Gen president Total costs and expenses path toward growth and profit- surpassing full year 2009 net the Pasig River Rehabilitation tions Development and Strategic a footrace, Run for the Pasig River, taker’s interview until after the video instead of entering We ask our broadcast col- for the same period in 2009. mester of 2010, up by 158% Giles Puno said. amounted to P120.3B, 34% ability.” (Hazel Velasco) income. (Kane Choa) Commission (PRRC) after tak- Planning Office said in a text slated on October 10, 2010. The negotiations were finished. the bus ourselves. leagues to join us in an indus- Meralco consolidated core Of its subsidiaries, First Gen from $19.4M posted in the higher than the comparative ABS-CBN net profits nearly Lopez Holdings income 24x ing her oath, along with 35 other message. run aims to raise funds for the riv- 3. We refused to be part of hos- This wasn’t enough. try review. Let us unite and net income hits P5.8B Hydro contributed P1.06B to same period last year. Con- period, with cost of purchased triple higher appointees to various govern- The PRRC, an agency under er cleanup campaign and to create tage negotiations. We acknowledge airing a re- work together to put in place the total net income for the first solidated revenues likewise Meralco announced consoli- power comprising 87% of to- ABS-CBN Corporation Lopez Holdings Corpora- ment agencies and offices, before the Department of Environ- more awareness for the cause. 4. All throughout the day and port that detailed the position measures to collectively decide half. Income from the Min- jumped by $129.1M, or 24% dated core net income, which tal costs and expenses in 2010, generated profits of P2.265B tion reported P11.376B in net President Benigno Aquino III in ment and Natural Resources KBPIP and its partner agen- until the first shots were aired, of the police during the assault. when we stop live coverage in danao geothermal plants im- to $655.4M in 2010 from last excludes one-time, exceptional compared with 85% in 2009. from strong growth in regular income attributable to equity Malacañang on August 23. (DENR), is tasked with clean- cies have already brought sig- we kept our cameras 400 me- During the arrest of Gre- the absence of government proved to P436.4 million from year’s $526.3M. charges, for the first half of Consolidated capital ex- advertising revenues, comple- holders of the parent for the The appointment of the man- ing and rehabilitating the his- nificant development to Estero ters away from the bus, giving gorio Mendoza, we considered presence of mind. P343.2M with the elimination Revenues from sale of elec- 2010 of P5.8B. Consolidated penditures for the first half mented by political ad spend- first six months of 2010.
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