OML Welcomes Synergies with New Meralco Partners by Carla Paras-Sison the Lopez Group, from Whom Meralco Co Pension Fund
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April 2009 April 21, 2009 9:00 AM to 1:00 PM Act Now! La Mesa Eco Park, Quezon City Let’s mitigate the effects of climate change, before it’s too late. Be part of our Green Programs that aim to reduce carbon emissions. Join us on April 21, Thursday as we Launch “Dirt in Carbon, Max in Green”. For more information about the Lopez Group Business Available online at www.benpres-holdings.com Excellence Programs, register/log-on to www.lopezgroupbeknet.net OML welcomes synergies with new Meralco partners By Carla Paras-Sison The Lopez Group, from whom Meralco co Pension Fund. These purchases brought ownership was wrested by the Marcos dicta- up the Lopez Group stake to 33.4%, which LOPEZ Group chairman Oscar M. Lopez torship, historically owned 14% of Meralco allowed it, along with proxies, to retain (OML) is looking forward to achieving syner- following an agreement with government management control of Meralco in 2008 gies with new corporate partners in Meralco. affirmed by the Supreme Court post-Edsa when erstwhile shareholder GSIS (Govern- In a statement announcing an invest- Revolution. ment Services Insurance System) attempted ment and cooperation agreement with Through First Philippine Holdings a hostile takeover. EL3 on Pacman PLDT, OML said, “We are very optimistic Corporation (FPHC), it slowly built up FPHC president Elpidio L. Ibañez said …page 3 with this new partnership. We believe that ownership to 17% by switching to A shares, in a briefing that the increased stake in flip-flop we can leverage the strengths and synergies or shares open to ownership by Filipinos Meralco resulted in a debt overhang that inherent among each of the partners and only, and with additional purchases by needed to be addressed this year. Return- ultimately benefit our customers and the Benpres Holdings Corporation, which later ing the Lopez Group to its historical 14% country as a whole.” exchanged its Meralco stake for additional Meralco ownership through an investment Telephone company PLDT and Meralco shares of FPHC. and cooperation agreement with PLDT/ have potential synergies in wire infrastruc- Retaining control Metro Pacific allows FPHC to strengthen ture, fiber optics for broadband and other This17% ownership held until two years its financial position and rebalance its port- applications, customer relationship man- ago when FPHC purchased Meralco shares folio, as well as retain significant shareholder agement, billing and collection, as well as of partner Union Fenosa, which decided to rights over Meralco. repair and maintenance. leave the Philippine market, and the Meral- Turn to page 2 Meralco celebrates 106th anniversary ABS-CBN sizzles OLD black and white pho- tographs lining the walls with love for greet you when you enter the Meralco Museum. country ...page 5 They date back decades— spanning a century—to a time when Manila was Power America’s tropical outpost Plant Mall in the Pacific, English was MARKETING CORPORATE MERALCO Photo: just becoming the lingua helps you franca of the nation, and US soldiers were fighting prep for pockets of resistance from Filipino nationalists in the summer countryside. …page 12 But instead of Meralco company officials, most of the photos are the kind that you would take of bud- dies at work with your cell phone or digital cameras. More than about Meralco’s history, the photos speak Among the highlights of Meralco’s celebration was the cheering competition participated in by four major groups: Shared Turn to page 6 Services, Networks, Customer Retail Services, and Subsidiaries. Photo shows the winning team from Networks. 2 3 Lopezlink April 2009 Lopezlink April 2009 Unified Holdings signs P5.6B corporate note facility Marifil to fight for Extelcom EL3 clarifies ABS-CBN position on Pacman transfer MARIFIL Holdings Cor- economic profits.” It now ap- foreign corporation and mi- sider an abuse of the rules on ABS-CBN chairman and the Kapamilya network in the and joy to all of us….” “He ap- contracts with GMA-7 and UNIFIED Holdings Corpo- nearer to its operating subsid- poration, owner of over 46% pears from published reports nority shareholder in Extel- corporate rehabilitation, Trans CEO Eugenio Lopez III center of a media storm. At the same time, EL3 proached us, Solar Sports. The two entities ration, a wholly owned sub- iaries,” chief financial officer of Express Telecommunica- that Trans Digital did precise- com. The terms of the deal re- Digital filed for Extelcom’s (EL3) urged Filipinos to sup- In his regular meeting with minced no words in saying he wanted to indicated that they would en- sidiary of First Gen Corpora- Francis Giles Puno said. tions Company Inc. (Extel- ly that by selling all its rights main undisclosed, but Trans rehabilitation as if it were a fi- port Manny “Pacman” Pac- ABS-CBN employees in late that it was in fact Pacquiao move to ABS force the agreements, forcing tion, signed an agreement for a The loan facility will bear an com), categorically stated that in Extelcom to the San Miguel Digital acquired Millicom’s nancial creditor. This resulted quiao in his May 3 fight with March, EL3 praised Pacquiao, who offered the network the for very obvi- Pacquiao to back down. three-year corporate note facili- interest rate of 9.3769%. Uni- it would continue to fight for group for an undisclosed prof- shareholder advances. Trans in the circumvention of the Ricky Hatton even as the whose fights used to be aired broadcast rights of his duel ous reasons. EL3 stressed that ABS- ty of up to P5.6 billion arranged fied will advance the proceeds Extelcom and that it would it. Digital prepared a rehabili- Corporation Code require- champion boxer’s flip-flopping over ABS-CBN, as a Filipino with Hatton as well as his fu- Ang promo- CBN “acted in an ethical man- by a consortium of local banks of the loan to First Gen, which pursue all legal remedies to re- Bayan Telecommunica- tation plan that merely pro- ments on obtaining Marifil’s left his erstwhile partners and hero who “brings a lot of pride ture fights. tion, ang ner” in dealing with the “Pam- led by BDO Capital & Invest- in turn will retire its bridge verse the illegal dilution of its tions Inc., which owns Marifil vided for the conversion of vote. reach ng ABS bansang Kamao.” ment Corporation, Philippine loans amounting to P1. 45B shares in the telecommunica- Holdings, has also challenged these advances into equity to Victor Macalincag, the reha- is far better “We…did not violate any of National Bank and Rizal Com- and US$80.5 million. Funds tions company. the rehabilitation plan of Ex- control more than 59% of Ex- bilitation receiver appointed by than any- his restrictions or his embargo, mercial Banking Corporation. from the corporate note facility Marifil lawyer Ariel Tubay- telcom. telcom. Judge Antonio Eugenio of the thing you’ve there was no deal on the poli- “The exercise is part of our will completely pay down First an said that Marifil is “pre- Bayan vice president for But to do this, the capital Manila Regional Trial Court, FPHC: IMS certified! ever seen in tics. Now that he has decided financing initiatives to bring Gen’s short-term loans. (Angelo pared to go all the way to the corporate communications stock of Extelcom had to be where the rehabilitation pro- GMA in the to go back to GMA, suportahan the debt at the First Gen level Macabuhay) Supreme Court,” a signal of John Rojo explained, “Bayan’s decreased and then increased, ceedings are pending, never AFTER being an ISO 9001 panies. FPHC encountered and systems. It helps people last year. That is the true reason CBN chief said. na lang natin siya and wish him the seriousness with which the position is that we have never resulting in the dilution of communicated with Marifil, and ESH practitioner for obstacles in conceptualizing better organize their work, it he wanted to move,” the ABS- The boxer however had live well,” EL3 said. Restoring ‘The Pageant of Commerce’ company is addressing the is- been afraid of competition Marifil’s shareholdings from even though Marifil is Extel- several years, First Philip- an IMS whose processes are helps them understand how National sue. and we even welcome it if it 46% to 8%. This would le- com’s single largest sharehold- pine Holdings Corporation relevant for a holding com- they fit into the whole process Artist Carlos “Marifil was deprived of its will improve the lives of con- gally require the vote of er. The SEC approved the con- (FPHC) has merged its pro- pany. and puts the discipline in them ‘Botong’ Fran- property in clear violation of sumers. Our track record has shareholders holding at least version of advances into equity cesses under an Integrated The IMS initiative was re- to do the right things in the Bayan fetes top BPO firms cisco’s mural, the Corporation Code that re- shown that we are willing to two thirds of the outstand- even though the Corporation Management Systems (IMS) vived in 2008. IMS manage- right way, or systematically,” ‘Pageant of quires the vote of shareholders enter into mutually beneficial ing capital stock, including Code requirements were vio- certification. ment representative Ricky Ibañez said. BAYAN held its e-Services Support, Convergys, Teletech tion in the world,” Fafunwa Commerce,’ holding at least two thirds of arrangements with our com- Marifil’s. lated, thus paving the way for The IMS—a unified ver- Yatco, deputy MR Rico de The IMS certification and Outsourcing and Off- and Sutherland for being O&O said. mounted at the outstanding capital stock. petitors. But the most impor- However, despite having ac- the reported acquisition by the sion of ISO 9001:2002, ISO Manzana, IMS lead auditor awarded to FPHC will be val- shoring (O&O) Awards Night locators in the next wave cities Bayan works with the the main lobby How can corporate rehabili- tant issue here is whether or quired its rights from a share- San Miguel group of majority 14001:2004 and OHSAS Cocoy Alvior and IMS Team id for three years.