Erramon Aboitiz cited as one of Asia's Leaders

MANILA, Philippines - Aboitiz Equity Ventures (AEV) president and CEO Erramon Aboitiz has been recognized as one of the Asia Leaders for 2010 by Platinum Circle, a private business group composed of global and Asia corporations. Aboitiz is the Asia Leader representing the Philippines.

Platinum Circle chairman Lionel Lee officially conferred the recognition on Aboitiz during the Asia Leadership Dialogues (ALD) held at the Crowne Regency Galleria Hotel last July 27.

Assistant Secretary Felicitas Agoncillo-Reyes of the Board of Investments of the Department of Trade and Industry, delivered a message of support in recognition of the relevance of this award.

Platinum Circle’s member-corporations are those with annual revenues exceeding $100 million, with representation at the most senior executive level. The ALD is a forum conducted in several major cities across Asia organized by the Platinum Circle to showcase individuals from the private and public sectors who are leadership role models in the region.

The theme for this year’s ALD was “Leading Asia’s Recovery”. Chosen leaders addressed peers regarding their experiences and efforts in leading their organizations out of the economic downturn, as well as the challenges and opportunities presented by Asia’s recovery.

In his keynote speech, Aboitiz talked about the history and growth of the Aboitiz Group, the lessons learned in its journey from being a highly diversified enterprise till the mid-1990s to its current strategy of focusing on its core businesses. He said the most significant expansion and acquisition efforts of the group have taken place in the last three years, an unmistakable show of bullishness on the economic prospects of the Philippines. Its biggest investments have been in the power business.

Aboitiz said that since 1996, AEV’s revenues have grown from a little over P3 billion to P46 billion as of yearend 2009. Over the same period, net income likewise increased from P1 billion to over P8 billion. AEV’s market capitalization has swelled from P15 billion in 1996 to today’s P127 billion.

“The Aboitiz Group and the Philippines are looking forward to take active roles during this Asian Century and to help achieve a full recovery for the region,” Aboitiz said, adding that he sees the Philippines playing an important role in this Asian century.

“Aboitiz, in step with the Philippines, looks confidently to the future where we know we will have to learn, adapt, and continuously reshape ourselves for the changing paradigms of tomorrow. We will pursue this exciting future with the Aboitiz passion for better ways,” he said.

Aboitiz said he was accepting the Platinum Circle recognition “on behalf of the 30,000 team members that make up the Aboitiz Group, as well as the thousands more who came before us. We believe the success of one is the success of all. Aboitiz is a business enterprise that took root over a century ago and we owe our success to those that left us the solid base to build on.”

After his speech, Aboitiz had an on-stage dialogue with broadcast journalist Nancy Irlanda-Tanjuatco.

AEV is the publicly-listed holding and investment management company of the Aboitiz Group. It has interests in power generation and distribution, financial services, food and transport. Three of its investee companies are also listed on the Philippine Stock Exchange. AEV is consistently recognized in international surveys as among the Philippines’ best managed companies. It has also been cited for its commitment to good corporate governance.