July 2008 Available online at www.benpres-holdings.com wins in 2008 International Gold Quill derby See story on p. 6 Benpres annual meeting ...p.2 The good news from NCAD WITH several awards from respected Asian Television Awards held in Sin- organizations under its belt, 2007 gapore. was indeed a very good year for A few weeks ago, there was the ABS-CBN Broadcasting Corpo- Gold Quill bestowed by the In- ration’s News and Current Af- ternational Association of Busi- fairs Department (NCAD). ness Communicators (IABC) In September 2007, on “Boto Mo, I-Patrol Mo.” its primetime newscast The groundbreaking en- “Bandila” was one of deavor did not only gather four entries from around the country’s most influen- the world short-listed tial media and technology in the news category of organizations to ensure the International Emmy clean midterm elections in Awards, which are given May 2007. More remark- out by The International ably, it allowed ordinary Academy of Television voters “to literally take the Arts & Sciences; “Ban- power of the media in their dila” scored a nomination hands”—using their cell- on the strength of its coverage phones, they reported instances of the Subic rape case promul- of cheating and violence in their re- gation. In December, the newscast spective areas, which were then veri- scored a Best News Program citation fied and aired on ABS-CBN programs. for the same coverage in the 12th Turn to page 6 Juday explains systems loss in TV ad…p. 9 NEWS AND CURRENT AFFAIRS Shower of surprises@ Power Plant Mall…p12 2 LOPEZLINK July 2008 LOPEZLINK July 2008 3 Benpres stockholders’ meeting Meralco cited ABS-CBN news team freed Restructuring umuusad THE ABS-CBN kidnap saga that Octavio Dinampo were snatched by Another member of the news “We are thankful that our prayers UMUSAD ang debt restructur- offering. Ang Rockwell Land case will be heard by the courts Scorecard for Publicly Listed for good corp riveted the nation ended on June Abu Sayyaf bandits in Maimbung, team, cameraman Angelo Valdera- have been answered and our efforts ing ng Benpres Holdings Cor- Corporation naman ay naghah- probably all the way to the Companies sa Pilipinas. 17 with the release of the team and Sulu on June 8. They had arrived ma, had been freed on June 12. rewarded. We thank everyone who poration matapos bilhin nito ang anda para sa isang initial public Supreme Court. Benpres is not Pinatunayan ang katapatan their guide after nine days in cap- in Sulu the day before to interview In a joint statement dated June 18, helped secure the release of Ces, bahagi ng pagkakautang noong offering (IPO) subali’t maghi- directly involved in this fight. Sinabi niyang nakakalung- tivity. some leaders of the local terror the families of the victims and ABS- Jimmy and Angelo…. Their words Disyembre 2007 at ibenta ang hintay pa ito ng pag-angat muli It is First Holdings, another kot marinig ang kabi-kabilang governance Ces Drilon talks about her nine- Anchor Ces Drilon, cameraman group. Assignment over, the group CBN thanked Sen. Loren Legarda and of comfort and prayers guided and day ordeal of being held captive Jimmy Encarnacion and Mindanao was travelling to a nearby town government and police officials for strengthened us throughout this or- pag-aari sa Medical City nitong ng stock market. Lopez company that owns the batikos sa Meralco gayong MERALCO was recognized as one of the Top 20 companies in Abril 2008. Ang orihinal na pagka- 33.4% shares in Meralco, that ilang beses ng pinatunayan ng by Abu Sayyaf bandits. State University (MSU) professor when gunmen seized them. helping secure the victims’ freedom. deal,” they said. the 2007 ICD Corporate Governance (CG) Scorecard for publicly ABS-CBN Desk News Sa kanyang report para sa kautang ng Benpres na hindi is involved. But nevertheless management nito, sa ilalim ng listed companies in the Philippines. taunang pulong ng mga stock- nabayaran noong Hunyo 2002 Benpres is indirectly involved kapatid niyang si Manuel M. The award was given by the Institute of Corporate Directors holders, sinabi ni Angel S. Ong, ay US$560 milyon. Sa kata- because it owns the controlling Lopez, ang kanilang katapatan (ICD) together with the Securities and Exchange Commission BWL update pangulo at chief operating of- pusan ng 2007, ang principal interest in First Holdings.” sa kanilang tungkulin sa mga Lower bills for Meralco customers in June (SEC), the Philippine Stock Exchange (PSE) and the Ateneo Law MERALCO customers expe- Market (WESM). down to P1.81/kWh in May and systems loss reductions, ficer ng Benpres, na binili nito balance ng pagkakautang ay Noong katapusan ng 2007, customers, pagsunod sa batas at School. rienced a 42.34-centavo per “The cost of energy that from P7.34/kWh in April, for residential customers saw a ng may diskwento na 40% ang naibaba na sa US$365 milyon. pag-aari ng Benpres ang 43.15% mga alituntunin ng gobyerno, at Meralco vice president for corporate communication Elpi Free NDD calls US$44 milyon na halagang pag- Ang proposal ng Benpres na ng First Holdings. kagalingan sa pagpapatakbo ng Cuna said the award is “a testament to the management capability kilowatt-hour (kWh) reduc- we sourced from the WESM a reduction of P5.53/kWh,” 48.72-centavo/kWh decrease kakautang ng Benpres noong isinumite sa mga creditors nito TRO isang public utility. from BWL tion in the generation charge in May was among the lowest said Meralco vice president in their June electricity bills. of Meralco officials whose competence and integrity are beyond BAYAN is not only giving Filipinos nakaraang taon. noong Agosto 2007 ay para sa Sa petisyon ng Meralco, “Indeed, Meralco continues to question.” component of their June since the market opened in for corporate communication “Whatever savings we incur their voice back, it’s making sure that Gayundin, nagbenta ang 12-year term para sa matitirang nag-issue ng temporary restrain- receive harsh criticism, when in Meeting expectations electricity bills. From its May July 2006. There was a reduc- Elpi Cuna. from the cost of power we obtain Benpres ng bahagi ng hi- pagkakautang. “Nonetheless, ing order (TRO) ang Court of fact, it has operated with integrity “We dedicate this…to our customers, shareholders, creditors, they will be heard across the nation as it offers P100 level of P4.8754/kWh, the tion of almost P5.00/kWh in Residential customers also from our suppliers are passed on nahawakang shares ng Digital we have been paying interest Appeals laban sa Securities and in compliance to laws, rules the communities we serve and other stakeholders…. They can worth of free NDD calls with every P699 bayanWIRELESS generation charge in June went the basic cost of power, from experienced an additional to our customers. The generation Telecommunications Inc., at every May and November,” sabi and Exchange Commission and regulations that govern its rest assured that we are continuously exploring ways to further landline (BWL) subscription. down to P4.4520/ kWh. The P7.86/kWh in April to P2.93/ reduction of 6.38 centavos/ charge is a pass-through charge, nakumpleto naman ang back- ni Ong. (SEC) na nagpipigil sa SEC sa business and its status as both a improve the quality of our service and meet their expectations,” “True to our core belief of ‘Gaganda pa ang buhay,’ reduction was due mainly to kWh in May. Factoring in all kWh in their bills because of which Meralco does not earn door listing ng infrastructure Tumanggap ang Benpres pagdinig ng reklamo ni Winston public utility and a publicly listed Cuna said. Bayan is passionate about empowering Filipinos to com- the low prices obtained from the adjustments, the net cost lower systems loss charges. from,” Cuna said. (Meralco business nito sa pamamagitan ng P1.3 bilyong halaga ng cash Garcia, pangulo ng Government corporation,” sabi ni OML. The corporate governance scorecard rates publicly listed cor- municate as much as they like. Providing them with the best the Wholesale Electricity Spot of WESM supply further went Combining generation charge Corporate Communication) ng First Philippine Infrastruc- dividends noong 2007 mula sa Services Insurance System Idinagdag niyang walang porations on compliance with and actual practice of corporate value is one way to help them to do that,” said John Rojo, ture Inc. (FPII), dating City Re- mga pag-aaring shares ng First (GSIS), laban sa shareholder dapat ikatakot o ikahiya ang governance compared with national, regional and international Bayan vice president for corporate brand and communica- sources (Phils.) Inc. Samantala, Philippine Holdings Corporation proxies na hawak ng Meralco pamilya Lopez mula sa kanilang standards. It is a “person-on-the-street” test and relies on public tions. ngayong 2008, binenta ng Ben- (First Holdings), FPII, ABS- management at board members nakaraan at sa kasalukuyan, o sa disclosure. As long as an ordinary person on the street with access The support for BWL also prompted Bayan to bolster pres ang 18% na pag-aari nito sa CBN Broadcasting Corporation na nominado ng Lopez Group. katotohanan. to generally available information can get specific information on its base station to accommodate the influx of callers and Meralco to comply with order Medical City at bumili muli ng at Rockwell. Nagbayad naman Hiniling ng SEC sa Court “In almost 200 years in Philip- a corporate governance practice, a positive score results. texters. US$5 milyong pagkakautang na ito ng interes sa pagkakautang of Appeals na i-lift ang TRO, pine business, we have remained Public disclosure may diskwentong 40%. sa halagang P600 milyon. na dapat ay may bisa na 60 true to our heritage of good gov- Meralco rated high in the scorecard that measures public Tuloy ang laban para sa Subscribers’ choice Ayon kay Ong, “Two more araw.