2007 ANNUAL REPORT Power Corporation - Aboitiz Equity Ventures
2007 ANNUAL REPORT Power Corporation - Aboitiz Equity Ventures
2007 ANNUAL REPORT Power Corporation - Aboitiz Equity Ventures
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
Contents<br />
<strong>Power</strong> <strong>Corporation</strong><br />
<strong>Aboitiz</strong> <strong>Power</strong> <strong>Corporation</strong> (AP), a majority-owned subsidiary of <strong>Aboitiz</strong> <strong>Equity</strong><br />
<strong>Ventures</strong>, is one of the leaders in the country’s renewable energy industry and the largest<br />
conventional hydropower operator in the country. It has a reputation of operating the<br />
most efficient electricity distribution utilities in the Philippines. The company provides its<br />
customers with quality service and reasonably-priced electricity. Since its incorporation<br />
in 1998, AP has accumulated interests in both hydroelectric power generation facilities<br />
and thermal plants, and expanded its distribution business. It is committed to expand its<br />
renewable energy capacity, driving innovation to power the Philippines.<br />
Financial Highlights 2<br />
Report to Stockholders<br />
From your Chairman and President & CEO 4<br />
EVP and SVP - <strong>Power</strong> Distribution Group 10<br />
SVP - <strong>Power</strong> Generation Group 16<br />
EVP - Strategy and Regulatory Affairs 20<br />
Chief Financial Officer 22<br />
Chief Compliance Officer 24<br />
Features: <strong>Power</strong>ing New Frontiers<br />
SN ABOITIZ POWER, INC. 34<br />
<strong>Power</strong>ing hydro capacity<br />
Magat Project Finance: Deal of the Year<br />
<strong>Equity</strong> <strong>Ventures</strong><br />
<strong>Aboitiz</strong> <strong>Equity</strong> <strong>Ventures</strong>, Inc. (AEV) is a diversified conglomerate listed at the Philippine<br />
Stock Exchange that has interests in power generation and distribution, banking, transport<br />
and food manufacturing. Its mission is to create long-term value for all its stakeholders.<br />
The company has been recognized in international surveys as among the Philippines’ best<br />
managed companies. In <strong>2007</strong>, it placed 9th overall as the Best Managed Company in Finance<br />
Asia’s Annual Best Companies in Asia poll. In the same poll, AEV ranked 8th as the Most<br />
Committed to Corporate Governance, and 7th in Best<br />
Investor Relations.<br />
Group Foundation<br />
<strong>Aboitiz</strong> Group Foundation, Inc. (AGFI) is a non-stock and non-profit corporate<br />
foundation registered with the Securities and Exchange Commission in 1989. It is the<br />
concrete manifestation of the <strong>Aboitiz</strong> Group’s strong commitment to corporate social<br />
responsibility. Guided by its mission, “helping people help themselves”, AGFI addresses<br />
the social and economic development needs of less privileged communities in areas where<br />
<strong>Aboitiz</strong> companies operate. The Foundation has helped improve the quality of life of its<br />
chosen beneficiaries under its major program components, namely education, enterprise<br />
development, primary health and childcare.<br />
HEDCOR, INC. 36<br />
<strong>Power</strong>ing growing markets with Cleanergy<br />
IN PREPARATION FOR OPEN ACCESS 38<br />
<strong>Power</strong>ing customer service<br />
ABOITIZ POWER ENERZONES 40<br />
<strong>Power</strong>ing industrial estates<br />
EAST ASIA UTILITIES CORPORATION 42<br />
CEBU PRIVATE POWER CORPORATION<br />
<strong>Power</strong>ing a tight market<br />
STEAG STATE POWER INC. 44<br />
<strong>Power</strong>ing Mindanao<br />
CORPORATE SOCIAL RESPONSIBILITY 46<br />
Empowering communities<br />
LOCATION OF OPERATIONS 48<br />
CORPORATE STRUCTURE<br />
BOARD OF DIRECTORS 49<br />
CORPORATE OFFICERS 50<br />
FINANCIAL STATEMENTS 52
Change language