AEV positions itself as global organization

CEBU, Philippines -  Publicly-listed conglomerate Aboitiz Equity Ventures is bracing for the anticipated ASEAN integration next year through initiatives that positioned the company as a global organization.

"We are pursuing opportunities leading up to the ASEAN economic integration," said Aboitiz Group head for human resource Txabi Aboitiz,

Recently, its food arm Pilmico acquired an aqua feeds company in Vietnam and will be opening an office in Indonesia this year.

Aboitiz said the company is also seriously exploring power projects in other countries.

"These initiatives signal the start of our journey towards becoming a global organization," he said.

The Cebuano-led conglomerate which celebrates its 20th year as a listed company this year, is also making serious investments in the power generation business, especially over the past seven years, "AboitizPower will continue to spearhead the Group's future growth."

Aboitiz said the Group is increasing its power generation capacity by another 2,000 MW over the next five years. Last September, the company officially launched the 420-MW Pagbilao 3 power plant in Quezon. Other plants throughout the country, such as the ongoing 300-MW baseload plant in Davao, are either under construction or close to being given their notice to proceed.

"Our commitment to growing our power business is strongly tied to our support of the nation's economic development," he said.

For its banking arm,  Aboitiz said the company is reaping the benefits of stronger synergies between UnionBank and CitySavings Bank.

“UnionBank has increased capitalization and is positioned for future growth,” he said adding that the bank is committed to executing its "Focus 2020" strategy towards being a great retail bank and expanding its presence.

Likewise, AboitizLand, which is also celebrating its 20th year, is now working towards its goal of becoming a national player in land development, after its entry into Luzon with the LIMA Land acquisition.

Moreover, AEV has also ventured into building the country's first liquid bio-methane fuel plant through Aseagas, its joint venture with a UK company.

"We will continue to pursue projects under the government's public-private partnership program or PPP," Aboitiz said.

"Our focused strategic initiatives, key acquisitions, strong partnerships and good corporate governance led us not only to create economic value, but also earned us the recognition of being one of the best-managed companies in the Philippines," Aboitiz added. (FREEMAN)