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Ayala Corporation Next Stock >>
Code : AC (Stock)
Sector : Holding Firm
Traded in : Philippine Peso (PhP)
Status : Active
Website : http://www.ayala.com.ph
Last Update : 15 May 2001
Address : 32/F, Tower One, Ayala Triangle, Ayala Avenue, Makati City, Metro Manila, Philippines
Tel : 8485643
Fax : 8485768
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Last Update: 15 May 2001 TRADES LIST INTRADAY CHARTS REALTIME RELOAD
Close Prev Close
% Change Day Hi
Day Low 52 Week Hi
52 Week Low Vol ('000)
Div. Y.% Par Value
No Change 7.800
0.53 % 1.000
SUMMARY OF ACTIVITIES
Ayala Corporation (AC) was incorporated in December 1967. It is the country's largest and most widely diversified conglomerate. Its major businesses are in real estate and hotels, financial services, insurance, telecommunications, food manufacturing and agribusiness, infrastructure, electronics and information technology. Significant subsidiaries of the Company include Pure Foods Corporation, Ayala Land, Inc. (ALI), Bank of the Philippine Islands (BPI), Ayala Insurance Holdings Corporation (AIHC) and AC International Finance Limited (ACIFL).
On 9 February 1999, wholly-owned offshore subsidiary, ACIFL launched a US$200 million Eurobond issue guaranteed by AC. The unsecured notes have an issue date of 16 July 1999 and a term of five and a half years or until 17 January 2005. The Notes will have a coupon fixed rate of 8.75% payable semi-annually, and will be listed at the Luxembourg Stock Exchange. In August 1999, subsidiary AIHC approved merger plans in the insurance business with BPI. In addition, the company also announced that subsidiary Ayala International Pte Ltd will acquire 40 million new shares in Standard International Group Limited, a property company listed in Hong Kong. The said investment is equivalent to 2% of Asia Standards expanded share capital.
On 23 February 2000, AC entered into a definitive agreement with Singapore Telecom International (STI), wholly-owned subsidiary of Singapore Telecom, and Deutsche Telekom on the planned merger of Globe Telecoms, Inc. and Isla Communications, Inc. The transactions to implement these agreements are expected to be completed before the end of the year. Moreover, its bank subsidiary BPI was merged with Far East Bank and Trust Company (FEBTC) in April 2000 creating BPI as the country's second largest banking institution.
For the three months ended 31 March 2000, consolidated unaudited net income declined to PhP1.37 billion from PhP1.88 billion recorded in the same period last year. The drop was attributed to funding expenses incurred to support the acquisition of Far East Bank shares. The Company however is confident that earnings will remain stable within the year. Such will be enhanced by AC's focus on technology-based business platforms and initiatives in mobile commerce and internet-related businesses. A 20% stock dividend was declared on 29 February 2000.