May 2010 appy Birthday, MML! May 20, 2010 Available online at www.Lopezlink.ph Undaunted we stand WHAT do you get when you distill the essence, the life of a man— “Undaunted” is a two-part musicale told from the viewpoint of a patriarch and pillar of business, historian and scholar—into one the Lopez Group chairman. It traces the fortunes of the Lopez and a half hours of song and dance numbers by turns poignant, family and the genesis of the Lopez values—a pioneering entrepre- touching and rousing? neurial spirit, business excellence, nationalism, team work, strong “Undaunted,” staged at the Meralco Theater on April 23-24, work ethic, integrity, social justice, and concern for employee wel- 2010, was one of the highlights of the 80th birthday celebration of fare and wellness—as articulated by Eugenio “Eñing” Lopez Sr. Lopez Group chairman Oscar M. Lopez (OML). Turn to page 6 Five Lopez companies in top 30 … page 2 3rd edition… page 5 OML waves to the audience at finale of “Undaunted.” Photo by Ryan Ramos Mom’s the word at Power Banner year ang 2009 Plant Mall By Carla Paras-Sison kautang. Kung tatanggalin ang ganansiya Natuwa si Oscar M. Lopez (OML), …page 12 sa pagbenta ng Meralco shares, ang net chairman at chief executive officer ngP F HC, First Holdings nag-neto ng P8.5 bilyon income ay P1.3B o mas mataas ng 8%. sa financial performance ng kumpanya. NAG-REPORT ng net income at- Noong Hulyo 2009, binili ng Metro “We are pleased with the company’s tributable to parent na P8.5 bilyon ang Pacific Investments Corporation (MPIC) financial performance the past year and First Philippine Holdings Corporation ang 223 milyong Meralco shares mula sa are thankful for the support of all our (FPHC) para sa taong 2009, kumpara sa FPHC sa halagang P20.07B. Sa isang stakeholders in achieving these results. P1.2B noong 2008. investment and cooperation agreement, We have completed the necessary steps Malaking bahagi ng pag-angat ay dahil nagkasundo ang FPHC at MPIC sa to strengthen the company and now look sa P7.2B na net gain on sale sa pagbenta mga prinsipyo ng corporate governance forward to pursuing our strategic impera- ng 20% na pag-aari sa Meralco at mas kasama na ang pagboto ng mga direktor tives,” sabi ni OML. mababang gastos para sa interes sa pagka- para sa board ng Meralco. Turn to page 2 2 3 Lopezlink May 2010 Lopezlink May 2010 Comparative financial results for the years 2009 and 2008 TOTAL REVENUES Net income* 5 from Lopez Group among top UP tops int’l tilt with presentation on EDC 2008 2009 % change 2008 2009 % change THE University of the Philip- supply problems, 30 in corporate governance pines (UP) topped the global and the Renewable +23 Investment Research Challenge Energy law. ABS-CBN P22.308 P24.849 B +11 P1.383 B P1.702 B FIVE Lopez Group companies shareholders, 20%; equitable The GC scorecard project +308 (IRC) held in Hong Kong. EDC president Benpres P22.307 P24.849 B +11 P2.920 B P11.901 B joined top scorers in the 2009 treatment of shareholders, 20%; is jointly administered with The IRC is a worldwide an- Richard Tantoco EDC P20.53 B P22.07 B +8 P1.31 B** P3.32 B +153 corporate governance (CG) score- and role of stakeholders, 10%. ICD’s partners, the Securities nual competition organized vowed to sup- First Gen US$1.262 B US$1.022 B -19 US$14.5 M US$16.8 M +16 card organized by the Institute of First Philippine Holdings and Exchange Commission, the by the Chartered Financial port other worthy FPHC P60.2 B P58.873 B -2 P1.192 B P8.510 B +614 Corporate Directors (ICD). Corporation (FPHC), First Philippine Stock Exchange, the Analyst Institute (CFAI) to projects that will P191.78 B P184.87B -4 P2.8 B P6.0 B +114 The GC scorecard ranks Gen Corporation and Energy Institute of Internal Auditors Meralco provide university students help students gain publicly listed companies based Development Corporation of the Philippines, the Ateneo with real-world experience in knowledge and ac- *Net income attributable to equity holders of the parent. on their performance accord- (EDC) were among 11 gold Law School, and the Center equity research and company quire hands-on ex- **Kasama ang P8.9B na losses from the revaluation of EDC’s JPY12-billion loan at P2B na one-time income from ing to a set criteria deemed awardees that scored 95 and for International Private En- arbitration award. Kung wala ang mga ito, nasa P5.5B ang recurring net income ng EDC. analysis. perience in equity consistent with global best above on a 100-point scale. terprise. Business administration and research. L-R: EDC investor relations officer Baby governance practices. It grades Benpres Holdings Corporation FPHC was one of eight Contrasting elements in harmony in the living room. accounting students Raymund “…I am happy Clemente, CFA Philippines president April Ang net income attributable gay ng financial, business firms based on disclosure and and ABS-CBN Broadcasting gold awardees last year, while BANNER... Li, Choerleen Solema, Jose that EDC is able Lynn Tan, students Choerleen Solema, Jose Bayan from page 1 to shareholders ng ABS-CBN development at iba pang ser- transparency, 25%; board re- Corporation joined 19 silver EDC and ABS-CBN were The art of modern Mari Punzalan, Pamela Li and to participate in Mari Punzalan, Raymund Li, Pamela ay tumalon ng 23% to P1.70B, bisyo sa EDC. sponsibilities, 25%; rights of awardees that scored 90 to 94. silver awardees. (CPS) Rachel Sison overcame tough undertakings that Li and Rachel Sison, UP faculty and team P11.9B para sa Benpres mula P1.38B, matapos kaltasin Samantala, umakyat ng ba- competition against Brigham would again put coach Gavin Lee and EDC investor relations Business Nagtala ng P11.9B na net ang P85.25 milyong account- hagya ang consolidated net in- living in Edades Towers Young University, Fordham the Philippines in a manager Erudito Recio. income attributable to parent ing adjustment na mandato ng come First Gen sa $95M mula First Gen eyes bigger stake in EDC University, and University of very distinguished position and best practices in what may be ang Benpres Holdings Corpo- Philippine Financial Report- $93.5M, at tumaas ng 16% ang EDADES Tower and Garden Villas, Rockwell’s newest residential boosts Cape Town before being de- make every Filipino beam with the next generation of invest- ration noong 2009, mula P2.9B ing Standard 3. Ang earnings net income attributable to the FIRST Gen Corporation has ings Inc., a unit of Metro Pa- P5.67 per share for the first project, is no less revolutionary than its namesake, Victorio Edades. ment professionals.” noong 2008. before interest, taxes, deprecia- parent company sa $16.8M signed a call option agreements cific Investments Corporation, year, P6.19 per share for the Translated through the eyes of Rockwell’s interior designer consul- clared the global winner. pride,” he said. This is the first time for the Pinoy Nagkaroon ng P7.5B na tion and amortization ay um- mula $14.5M. with three firms for the pur- for P22.41B in March. second year and P6.76 for the tants Butch Valdez Jr. and Alice Erfe, the classic condo unit is rei- In their presentation on En- John Rogers, CFA, president Philippines to win the contest. net gain ang Benpres mula abot ng P6.51B, o 7% na mas Kung tatanggalin ang non- chase of Energy Development The agreements, which were third year. If exercised in full, magined into a unique space that expresses the art of modern living. ergy Development Corpora- of CFA Institute, said: “…I was In the past, the global winners sa pagbili ng $287 milyong mataas kaysa P6.11B noong recurring items tulad ng foreign Corporation (EDC) shares. signed with Philplans First Inc., the transactions will be worth A three-bedroom Edades flat becomes anything but that—Val- tion (EDC) as a buy, they rec- extremely impressed with the SMEs pagkakautang mula sa ilang 2008. exchange gains/losses, deferred A call option contract gives Rescom Developers Inc. and P3.32 billion in the first year, dez and Erfe’s clever use of space, subtle architectural touches and ommended that investors buy final four teams’ research and came from Nanyang Techno- WITH the right partner, small EDC, First Gen naghanda creditors. Nagkaroon din ng income taxes at ang write- the holder the right to buy a Philhealthcare Inc., and Systems P3.62B in the second year and the blend of vintage and contemporary pieces delight the eye with shares of the Philippines’ larg- presentations and would like to logical University in Singapore; and medium enterprises (SMEs) para sa RE Law P4.2B na equity in net earn- down ng deferred tax assets ng certain quantity of an underly- Technology Institute Inc., grant P3.95B in the third year, for a small surprises at every turn. est geothermal company, cit- applaud their skill and tenacity. Hong Kong Baptist University; have a fighting chance to succeed ings of associates ang Ben- Tumaas ng 26% ang core EDC, ang recurring net income ing security from the writer of First Gen call options for the total of P10.89B. In the living room, contrasting elements sit in harmony: a ‘50s ing EDC’s stock price’s upside We…hope that the experience and Babson College in Boston. against bigger competitors in the pres, at a bulto nito ay mula net income ng Energy Devel- ng First Gen ay $34.2M, o mas the option at a specified price purchase of 585 million EDC “With the additional re- styled armchair preens across a hardwood table and L-shaped sofa, potential, the country’s power has helped to instill ethics and (Toni Nieva) business arena.