AMA Group looking to diversify into power, water sectors

MANILA, Philippines - The AMA Group of Companies, headed by Ambassador Amable R. Aguiluz V, is looking to enter the power and water sectors while aiming to be among the top five real estate players in the country in the next three years.

Aguiluz, founder of the AMA Education System, Asia’s first and largest computer-based education system, said they were interested in power generation to capitalize on the anticipated increase in demand for energy.

 “Power and water are on our wishlist,” he said.

Aguiluz said the group, through its property arm Picar Development Inc., is also seriously considering listing on the stock exchange either through an initial public offering or backdoor route.

Backdoor listing is a technique in which a private firm purchases a publicly-traded company (usually a shell corporation) and shifts management into the latter. This allows private companies to become publicly traded while avoiding the regulatory and financial requirements associated with an initial public offering.

 “We’re seriously looking into this...maybe next year it’s in the works,” Aguiluz said.

He said the company is hoping to further expand its real estate business through aggressive landbanking activities.

The AMA Group also comprises AMA Computer University, AMA Computer Colleges, AMA Computer Learning Center, the AMA International Institute of Technology, ABE International Business Colleges, St. Augustine School of Nursing, AMA School of Medicine, St. Augustine International School (Basic Education) and the Norwegian Maritime Academy.

Founded in 2007, Picar has invested more than $400 million in its commercial and residential developments. It has acquired 51.7 hectares of prime commercial and residential tracts in various stages of development, including five-star hotels, offices, retail buildings, residential condominiums as well as masterplanned communities.

The AMA Group is also into banking through AMA Bank, the largest used car loan bank.