OML's 75Th a Real Blast "IF We Close Shop Tomorrow, All of You Can Years, and She Replied Simply: We Pray the with First Holdings President Elpidio L
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May 2005 p6 Photo: Joel Sol Cruz p6 Tsikiting travel tips p9 "Sabay Tayo" finale at OML's birthday program highlights the sense of unity and solidarity within the Lopez Group: "Magkaramay sa lumbay, magkasama sa lahat ng tagumpay." OML's 75th a real blast "IF we close shop tomorrow, all of you can years, and she replied simply: we pray the with First Holdings President Elpidio L. find work in the entertainment field," so went rosary every night," the bishop said. Ibañez, fulfilling a promise made at OML's the opening statement of Lopez Group chair- Former President Corazon C. Aquino, a 70th birthday five years ago, to the chair- man Oscar M. Lopez (OML), in his message friend of the Lopez family, attended the mass man's delight. following an hour-long entertainment extrav- with a host of other friends of the Lopez fam- The 1940s Elvis Presley medley featuring aganza prepared and most professionally par- ily from business and civil society. Nestor Ignacio and Nestor Padilla of Rock- ticipated in by Lopez Group corporate tal- Opening the program-which was alternately well Land, Johnny Sy of ABS-CBN and ents, from rank and file staff to middle man- hosted by OML's eight children and featured a Rafael M. Alunan III of First Philippine In- agers and senior executives. musical revue of the decades from OML's birth frastructure Development Corporation The afternoon event at the Meralco The- in 1930 to the present- was a rendition of "The (FPIDC) rocked the house, while the live ater began with a concelebrated mass offici- Prayer" by the Meralco Chorale with OML's 1970s OPM medley by eight ABS-CBN ex- ated by Bishop Federico Escaler with Fr. granddaughter Erica L. Abello as soloist. ecutives led by Finance chief Randy Estrel- Catalino Arevalo, Fr. Jaime Bulatao, Fr. Cedie L. Vargas, OML's eldest daughter lado brought the house down. Ernesto Javier and Fr. Carmelo Caluag-all and head of Logistics at ABS-CBN, led the The black theater production of "What a close friends of the Lopez family. performance of the 1930s "All that Jazz," Wonderful World" to represent the 1980s was In his homily, Bishop Escaler paid tribute with dancers composed of a mix of staff and participated in by 15 of OML's grandchildren to OML as a good family man, calling his officers from 10 Lopez Group member firms. and 11 children of Lopez Group officers. devotion to his family the greater achieve- Three VIP Dancers and wives of three Lopez ABS-CBN stars pitted vocal talents with ment of 75 years, over and above what OML Group officers completed 11 pairs of dancers Meralco's Chris Agas, Bert Fangon, Gilbert Whale sharks has achieved as a manager and business for the 1940s "Boogie Medley." Brigino and Jopet Petalver in a medley of hit leader. For the 1950s segment, Federico R. songs from the musical "Les Miserables" for and fireflies p12 "I asked Connie (Lopez, wife of OML) Lopez, OML's second son and president of the 1990s segment. once what has kept them together all these First Gen Corporation, sang "Night and Day" Turn to page 7 2 LOPEZLINK May 2005 Lopez Group companies' 2004 financial performance FPHC umarangkada 2004 Financial Results Ang unbundling ng electricity rates Bumaba ng 25% ang net income ng Umarangkadang muli ang First Philip- ay isang requirement ng Electric Power ABS-CBN sa P758 milyon mula sa pine Holdings Corporation (FPHC) (in pesos) Total Revenues Net income/(loss) Industry Reform Act (Epira) upang P1.008 bilyon noong 2003. noong 2004 at nagtala ng net income na 2003 2004 %change 2003 2004 %change magkaroon ng higit na transparency sa P3.3 bilyon at total revenues na P39.89 pagsingil sa customers. Isa ito sa mga Benpres lumiit ang pagkalugi bilyon. Nanggaling sa First Gen Corpo- paunang kundisyon para sa open access Nakalikom ang Benpres Holdings Cor- ration, dating First Generation Holdings ABS-CBN 12.64 B 13.57 B +7 1.008 B 758 M -25 system kung saan makapipili ang mga poration ng consolidated revenues na nag- Corporation, ang 93% ng revenues ng consumer ng kanilang gustong electric kakahalaga ng P3.905 bilyon noong 2004, FPHC. Umabot din ng P37.04 bilyon ang Benpres 5.006 B 3.905 B -22 (1.905 B) (1.364 B) +28 utility. mas mababa ng 22% kaysa sa P5.006 bi- consolidated revenues ng First Gen. lyong revenues nito noong 2003. Nabawas naman sa resulta ng FPHC FPHC 38.42 B 38.89 B +4 3.84 B 3.31 B -14 ABS-CBN humahabol Mayroong pagbaba na 46% sa For- ang parte nito sa provision for probable Nagtala ng P13.57 bilyong total con- eign Currency Differential Adjustment losses na ginawa ng Meralco kung Meralco 131.9 B 147.6 B +12 1.27 B (2.61 B)* -205 solidated revenues ang ABS-CBN (FCDA) dahil sa reclassification ng sakaling matalo ito sa kaso ng rate un- Broadcasting Corporation noong 2004, Maynilad charges. Ang Maynilad ay na- bundling na nakahain ngayon sa Supreme *After providing for probable losses in the amount of P9.82 B mas mataas ng 7% kumpara sa P12.64 ka-consolidate sa libro ng Benpres. Court. Ang parte ng FPHC sa provision bilyong naitala noong 2003. Tumaas naman ng 63% ang interest at for probable losses ay tinatayang umabot Meralco naipit ng unbundling so ng rate unbundling sa Supreme Court. Ang consolidated cost and operating financing charges dahil sa penalties at mga sa halagang P1.2 bilyon. Kung hindi ito issue Sinabi ng Meralco na kung kakatigan expenses ay umakyat ng 16% sa P12.05 utang na hindi nababayaran sa oras. Ang kasama, maaring umabot ng P4.5 bilyon Bagama't tumaas ang benta ng elek- ng Supreme Court ang desisyon ng Court bilyon, mula P10.39 bilyon. Umakyat ng pagbagsak ng halaga ng piso laban sa dol- ang net income ng FPHC, mas mataas ng trisidad, nagtala ng net loss na P2.61 bi- of Appeals na bawiin ang rate un- 19% ang total cashoperating expenses, yar mula P55.438 noong December 2003 18% kaysa sa 2003 performance nito. lyon ang Meralco noong 2004. bundling na ipinatupad ng Energy Reg- 19% ang production cost at 22% ang cost sa P56.28 noong December 2004 ay naging Ang First Gen at Meralco ang pinaka- Tumaas ng 3.5% ang sales ng Meralco ulatory Commission (ERC) noong 2003, of sales and services. dahilan din ng paglaki ng peso value ng malalaking operating companies sa ilal- at umabot ng 24,660 gigawatt-hours. masama ang magiging epekto nito hindi Samantala, umangat din ng 16% ang pagkakautang ng Benpres at ng Maynilad. im ng FPHC. Mayroon din itong pag-aari Gayunpaman, ipinasya ng Meralco na lamang sa kumpanya kundi pati na rin sa general and administrative costs dahil sa Gayunman, lumiit ng 28% ang net sa Manila NorthTollways Corporation magbawas sa kita nito ng provision for 1.2 milyong lifeline customers nito. mga bagong tauhang kailangan ng ABS- loss ng Benpres sa halagang P1.364 bi- (MNTC) na nagsimula ng commercial probable losses para mapunan ang anu- Mayroong 4.2 milyong customer ang CBN Global sa pag-expand nito sa lyon, kumpara sa P1.905 bilyon noong operations nitong Pebrero 2005 lamang. mang pagkalugi sakaling matalo ito sa ka- Meralco ng matapos ang 2004. bagong territories. 2003. (Carla Paras-Sison) Tunnel rehab improves water supply; First Sumiden bags 2004 ‘Conserve,’ West Zone residents asked By Jess Matubis But if rains don't come by June, the de- creasing level of raw water in Angat Dam Philippine Quality Award WATER supply to Metro Manila has in- may exceed the 167.94-meter elevation creased following the rehabilitation of the reached during the 1998 El Niño. FIRST Sumiden Circuits Inc. (FSCI), a joint venture com- Umiray Tunnel, but Maynilad Water Ser- "Withthecontinued absence of rainfall, pany of Sumitomo Electric Industries (SEI), Sumitomo vices Inc. (MWSI) is cautioning residents we project a decrease of 18 meters per day Corporation (SC) and First Philippine Holdings Corp. under its West Zone concession to conserve to the water level in Angat," said Edgardo (FPHC), was conferred the 2004 Philippine Quality Award water as El Niño continues to deplete the Esteban, Maynilad's Water Production (PQA) for Proficiency in Quality Management, a tribute to raw water reserve in Angat Dam. head. "So by the end of April, we might the company's continuing quest for manufacturing excel- As of April 18, 2005, the Angat Dam's have only a 177-meter elevation. If this re- lence. water level has gone down to 178 meters, duction persists, we may reach171.42 me- Vice President Noli de Castro presented the award to below the critical mark of 180 meters. The ters by end of May, which is very near the FSCI officials during the 7th PQA ceremony held in Mala- National Water Resource Board (NWRB) 167.94-meter level that was reached in El cañang's Heroes Hall. said at the current rate that Angat is receiv- Niño of 1998, which is the worst El Niño Before taking part in the PQA, which uses the same cri- ing water from the Umiray Tunnel, raw wa- the country ever experienced." ter level may plunge to 160 meters by June teria as the United States' Malcolm Baldridge National Maynilad is currently intensifying its unless rains come by next month. leak repairs and replacement of old pipes Quality Award (MBNQA), FSCI joined two cycles of the The NWRB had reduced water supply to and facilities to maximize the remaining Oscar M.