Ayala Corporation (Spanish: Corporación Ayala, formerly Ayala y Compañía (Ayala & Company)) is the
publicly listedholding company for the diversified interests of the Ayala Group. Founded in the
Philippines by Domingo Róxas and Antonio de Ayala during
Spanish colonial rule, it is the country's
oldest and largest
conglomerate. The company has a portfolio of diverse business interests, including investments in retail, education, real estate, banking, telecommunications,
water infrastructure,
renewable energy,
electronics, information technology,
automotive, healthcare, management, and
business process outsourcing. As of November 2015, it is the country's largest corporation in terms of assets ($48.7B).
History
Ayala y Compañía was established in 1876 and traces its origins to Casa Róxas, a partnership established in 1834 between Domingo Róxas and Antonio de Ayala.[6] Casa Róxas began with the formation of a distillery which became known as the maker of
Ginebra San Miguel. The distillery ultimately known as the Ayala Distillery was acquired by La Tondeña, Inc. in 1929.
In 1888, the company introduced the first
tramcar service in the Philippines. The company participated in the construction of the
Ayala Bridge over the
Pasig River in Manila. Originally built of wood in 1872, the bridge was reconstructed in steel in 1908 to become the first steel bridge in the Philippines. The company was responsible for the urban development of
Makati after
World War II under the leadership of Col. Joseph Ralph McMicking, who was married to Mercedes Zobel de Ayala.[7]
Ayala y Compañía shifted from a partnership to a corporation with the establishment of Ayala Corporation in 1968 and became public company in 1976.[8] Ayala Corporation welcomed the minority investment of
Mitsubishi Corporation as its strategic partner in 1974.[9]
In 2011, Ayala Corporation began building its renewable energy portfolio, beginning with a joint venture with
Mitsubishi for solar power and Sta. Clara Power for
run-of-the-river hydro power, and the purchase of the iconic Northwind farm for wind power. Ayala will contribute 1000 MW to the Philippine power supply, by 2015.[10]FinanceAsia named Ayala Corporation as the best-managed company in the Philippines in 2010 and 2015, as well as best for corporate governance and best for corporate social responsibility.[11]
MCT Consortium Berhad (32.95% ownership, based in Malaysia)
Ortigas & Company Limited Partnership - Since November 2014, Ayala and
SM Prime Holdings ended their dispute over the ownership of OCLP Holdings, the parent of Ortigas & Company. Ayala has recently sealed a deal with a group led by Ignacio Ortigas for the development of the Ortigas family's land bank area.[17]
Ayala-GT Capital - In May 2015, through Ayala's Alveo Land and GT Capital's Federal Land, the two corporations will develop a 45-hectare property in Biñan, Laguna, aimed towards mid-range and high-end markets.[19]
Ayala Corporation Energy Holdings, Ltd. - is the power unit of Ayala Corporation, with investments in the development of conventional as well as solar, wind, and mini-hydro energy sources.[20][21][22][23][24]
AC Infrastructure Holdings Corp. - pursues toll road, rail and airport projects under government's public-private partnership program.
AF Payments, Inc. (10%) - another consortium between the Ayala Corporation and
Metro Pacific Investments Corporation regarding the unified Automated Fare Collection System (
Beep card) for Line 1-3, and eventually also for the PNR and other public transport.[27]
North Avenue Grand Central station - the Unified Grand Central Station, is an interchange station currently in development by its stakeholders Metro Pacific Corporation, SMC-MRT7 of San Miguel Corporation, SM Prime Holdings, and Ayala Corporation.
Entrego (60%) - courier and express parcel management that serve Zalora Philippines.[28]
Manufacturing and automotive
AC Industrial Technology Holding, Inc. (AC Industrials)[29][30]
Honda Cars Makati, Inc.[33][34][35] and
Honda Cars Cebu, Inc.[36] - Established in October 1990, Ayala Automotive Holdings began with a 12.9% stake in the P1.1B investment for the local operations and production plant of Honda Cars Philippines.
Healthway Medical Network - Hospitals and clinics network that includes the Healthway Multi-Specialty Clinics, QualiMed Group of Hospitals, FEU Nicanor Reyes Medical Foundation, and the Healthway Cancer Care Hospital [47]
Pilipinas Makro Inc. (defunct) - initially a joint venture partnership between Ayala,
SM Investments Corporation (
SM Prime Holdings), and the Netherlands'
SHV Holdings NV formed to own and operate
Makro branches in the Philippines. Ayala divested from the company in 2004.[71]
In January 2006, the board of directors publicly announced the decision by
Jaime Zóbel de Ayala to retire as chairman of the corporation by April 2006. The board also announced his appointment as chairman emeritus upon his retirement. His eldest son,
Jaime Augusto Zóbel de Ayala, succeeded him as chairman and chief executive officer, while his younger son,
Fernando Zóbel de Ayala, has assumed the position of president and chief operating officer. The
Zóbel de Ayala family's holding company, Mermac, Inc., continues to hold the controlling stake (49%) in Ayala Corporation.[73]