Aboitiz is undergoing its Great Transformation to become the Philippines' first techglomerate.

The Great Transformation

Innovation

Synergy

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University of Experience

People & Culture

Remote Zambales School Gets Energized With Sustainable Solar Power

Power

Davao Light And IIEE Davao Renew Commitment To Boost Electrical Engineering Profession

Aboitiz InfraCapital Assumes 100% Ownership of MCIA Operator

Corporate Center

SecSee Forum 2024 Champions Cybersecurity For A Secure Future

Aboitiz Group Advisory to External Stakeholders regarding COVID-19

2019 Bankers’ Night

2019 Brigada Eskwela Cebu

Aboitiz Eyes

> This solar power installation is more than just a gift; it’s a commitment to the
future of these students and their education.
Iram II Elementary School in Zambales celebrated an early Christmas gift from
Aboitiz Foundation and Subic EnerZone, in partnership with GivePower Foundation,
with the installation of a sustainable solar power system. This initiative
provides essential electricity to one of the Department of Education’s
identified Last Mile Schools, transforming learning for students, teachers, and
the entire community.
The solar-powered facilities—which was received with excitement by students,
parents, teachers, and school officials—mark a new chapter for the school. Now
equipped with a stable power source, classrooms can support modern educational
tools like laptops and digital learning resources. Previously hindered by a lack
of reliable power, the school faced challenges in creating an enriching learning
environment.

“This solar power installation is more than just a gift; it’s a commitment to
the future of these students and their education,” said Jason E. Alde, OIC
Principal of Iram II Elementary School. “We are deeply grateful for this
support, which brings power and light to our classrooms and enables our students
to explore new educational opportunities.”

This project is part of AuroraPH, Aboitiz Foundation’s flagship initiative under
its Future Leaders pillar, focused on bridging education gaps by providing
sustainable power and internet connectivity to remote schools. “Our mission is
to empower communities and shape future leaders. With AuroraPH, we’re not just
installing solar panels but creating a conducive learning environment for the
students and teachers at Iram II,” shared Ginggay Hontiveros-Malvar, Aboitiz
Foundation President and Chief Reputation and Sustainability Officer. “This
program was made possible with the committed support of our partners GivePower,
AboitizPower, and Subic EnerZone.”

Dante T. Pollescas, President and COO of Subic EnerZone Corporation, expressed
the company’s commitment to supporting these communities, stating, “Subic
EnerZone is honored to be part of this initiative that empowers the youth
through clean and reliable energy. We are excited to see how access to power
will open up new learning experiences for the students of Iram II Elementary
School, creating brighter possibilities for their future.”

The installation included an orientation on September 13, 2024, to train
teachers and staff on the solar system’s use and maintenance, ensuring a lasting
impact. The school can now offer brighter classrooms and greater access to
digital tools, paving the way for student growth and development.

“The Aboitiz Foundation's AuroraPH project sets a high standard that will
definitely benefit our students. Congratulations to our DepEd team for making
sure we no longer have to worry about electricity here, and for working on ways
to further improve our schools so our Aeta students can study better,” said
Olongapo City Mayor Rolen C. Paulino Jr.

Aligned with the United Nations Sustainable Development Goals, particularly Goal
4 (Quality Education), Goal 10 (Reduced Inequalities), and Goal 17 (Partnerships
for the Goals), this initiative reflects Aboitiz Foundation’s commitment to
sustainable development and equitable resource access.

"Aboitiz Foundation, alongside DepEd, GivePower, AboitizPower, and Subic
EnerZone, is committed to advancing education and development for remote
schools," Hontiveros-Malvar added. "We are proud to support DepEd’s 5-point
agenda under Secretary Sonny Angara in enhancing digital education,
infrastructure, and teacher support."

This project at Iram II Elementary School is a significant stride toward
accessible education and sustainable growth, fostering brighter futures for
Filipino youth across the nation.

Franz de la Fuente

Austal Philippines will construct a new 32-metre catamaran, designed by Incat
Crowther,Balamban, Cebu – Austal Philippines, a key player in the global shipbuilding
industry, has secured a contract to construct a 32-meter catamaran for Rottnest
Fast Ferries. This milestone comes as the company celebrates its 12th year of
operations at West Cebu Estate (WCE). The advanced aluminium vessel, designed by
Australian firm Incat Crowther, will be built in Austal’s world-class shipyard
at WCE. Set to accommodate 400 passengers and a five-member crew, the catamaran
includes ample cargo space for bicycles and baggage, powered by two 1029kW MAN
D2862 diesel engines, delivering speeds of up to 25 knots for a comfortable and
efficient journey.

West Cebu Estate: A Dynamic Ecosystem for Industrial Success

Austal Philippines’ growth within WCE highlights the estate’s robust industrial
ecosystem, which provides a comprehensive suite of infrastructure essential for
sustained operational success. At WCE, businesses like Austal benefit from
reliable power, water, telecommunications, and construction services, seamlessly
integrated to support high-level production demands. Additionally, WCE is home
to a skilled local workforce, ensuring the steady supply of talent required to
keep pace with operational needs. The estate’s dedicated seaport optimizes
logistics, enabling efficient goods movement, while regulatory
services—including a one-stop-shop for PEZA and Bureau of Customs
support—streamline processes for all locators.

Since its establishment at WCE in 2012, Austal Philippines has delivered 21
vessels to 12 clients across 11 countries, underscoring its stature in global
shipbuilding. In 2022, Austal expanded into drydocking and ship repair services,
broadening its value proposition and reinforcing WCE’s role as a leading hub for
advanced maritime operations.


Catalyzing Economic Growth in Cebu
West Cebu Estate has emerged as a cornerstone of Cebu’s industrial and economic
landscape. Established in 1992, the estate now hosts 12 key locators from medium
to heavy industries, including globally recognized shipbuilders like Tsuneishi
Heavy Industries of Japan, Advanced Catamaran Composites of the USA, and Cebu
Marine Industry Inc. of Taiwan. WCE has directly generated over 14,000 jobs and
attracted more than ₱32 billion in investments, reinforcing its contribution to
the national economy. In 2023 alone, the estate’s locators exported goods valued
at over $545 million.

Responding to Growing Industrial Demand: West Cebu Estate’s Expansion

In response to increasing industrial demand, WCE has embarked on a 39-hectare
expansion, supported by an initial investment of PHP1.4 billion. The expansion
will accommodate light to medium manufacturing industries, including automotive,
semiconductor, and electronics, further diversifying WCE’s locator base and
generating an additional 14,000 jobs. With four new locators already confirmed,
the expansion underscores WCE’s commitment to supporting Cebu’s economic growth
while catering to the evolving needs of global industries.

Commercial Complex to Support Growing Industrial Community

As WCE’s industrial footprint grows, so does its commitment to community
development. In 2025, WCE will break ground on a new commercial complex
featuring a neighborhood mall, transport terminal, communal park, and commercial
lots. These amenities are designed to enhance the quality of life for the
estate’s workforce and residents, fostering a supportive, well-rounded
environment that will make WCE an even more attractive destination for
businesses and employees alike.

Infrastructure

West Cebu Estate Strengthens Maritime Leadership
with Austal PH's New Catamaran Project

Hedcor and Aboitiz Foundation are training high school students in
disaster-prone Mindanao with life-saving skills to become the next generation of
first responders.> Knowing life-saving techniques makes me feel empowered and
ready for any emergency.
Mindanao, once largely shielded from severe natural disasters, is now facing
increasingly intense typhoons and floods. These escalating threats highlight the
need for disaster preparedness, especially among youth who are stepping up as
first responders in their communities.
In response, Hedcor and Aboitiz Foundation launched a training initiative to
equip high school students from Sibulan National High School and Tudaya National
High School in Santa Cruz, Davao del Sur, with essential life-saving skills. The
program teaches Basic Life Support (BLS) and swift water rescue techniques,
specifically tailored to the disaster risks these communities face.

Led by the Local Disaster Risk Reduction and Management Office (LDRRMO) of Santa
Cruz, the training includes in-depth instruction in disaster risk reduction,
emergency care, and rescue transfer. Many of these students, who previously had
no formal emergency training, are now confident in their abilities to take
charge during crises, particularly those involving floods, which are
increasingly common across the region.

Student volunteers took part in hands-on training for disaster response,
covering emergency care and rescue techniques.“This training opened my eyes to
how I can help my community,” said Lady Joy Ayoc, a student from Sibulan
National High School. “Knowing life-saving techniques makes me feel empowered
and ready for any emergency.” Fellow participant Juicy Ote from Tudaya National
High School echoed, “Before, I never thought I could be a first responder. Now,
I have the confidence and skills to save lives, especially during floods.”

To further support the students, Hedcor and Aboitiz Foundation have donated
first aid and rescue equipment to both schools, ensuring that the youth have the
resources to act effectively in emergencies. This support reinforces the
importance of trained, prepared individuals who can quickly respond when
disaster strikes, making their communities safer and more resilient.

Rolando Pacquiao, President and COO of Hedcor, stressed the impact of involving
youth in disaster preparedness: “Empowering the next generation with life-saving
skills not only prepares them for emergencies but strengthens the entire
community. The youth are our future leaders, and through this initiative, we are
building a culture of preparedness where they take the lead in protecting and
serving their communities.”

With the increasing unpredictability of natural disasters, Hedcor and Aboitiz
Foundation’s initiative is setting the stage for a more resilient, prepared
Mindanao, where young first responders are ready to protect and serve. The
program is a testament to the critical role of youth in shaping safer,
disaster-ready communities.

As disasters become more frequent and severe in the Philippines, Hedcor and
Aboitiz Foundation’s initiative provides young people with the knowledge and
tools to make a real difference. This collaboration between Hedcor, Aboitiz
Foundation, local schools, and government agencies showcases the power of
communities united in resilience, creating a prepared, disaster-ready Mindanao.

Hedcor, Aboitiz Foundation Train Highschoolers To Be Next-Gen First Responders

By Jan Dolalas and Aly Virrey

AEV Transformation Manager Rey Marquez believes his passion for innovation and
transformation will continue to drive him—and Aboitiz—toward new horizons.Meet
Rey, Transformation Manager at AEV leading the Foresight workstream. You’ll
often spot him around the office, meal prep in hand, proudly sporting an Aboitiz
shirt. But long before stepping into this role, Rey gained a wealth of
experience across various Aboitiz Strategic Business Units (SBUs), giving him
deep insight, knowledge, and familiarity within the Group. Armed with a degree
in Chemical Engineering, Rey began his Aboitiz journey as a Technology
Specialist with Aboitiz Power’s Aseagas, setting the foundation for his dynamic
career ahead.


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Rey’s journey into engineering wasn’t always straightforward. “Engineering
wasn’t my first choice,” he recalls with a laugh. “I wanted to be a doctor but I
knew my family couldn't afford it. And as someone who literally grew up in the
mountains, I wasn’t aware of a lot of opportunities back then.”

So when it came time for college applications, Rey’s choices were practical
rather than passion-driven. “I didn’t put too much thought into it. I put BS
Business Administration and Accountancy as my first choice in the University of
the Philippines - Diliman, a triple quota double degree program, and put
Chemical Engineering as my second choice because I like chemistry,” he says.
Although he wasn’t able to qualify for his first choice, he decided to pursue
Chemical Engineering so that he can go to UP — only to realize later on that
Chemical Engineering is more than just Chemistry. This decision, although
seemingly casual at the time, would eventually open doors in ways that Rey could
never have predicted.

Early Challenges and New Opportunities
UP opened Rey’s eyes to many societal challenges, including the energy crisis.
This was a challenge he knew all too well, having spent 15 years in Marinduque,
where the energy crisis is still a pressing issue. He recalls many nights spent
burning the midnight oil—literally—because there was no power. As an
undergraduate researcher, Rey focused on the fuel of the future, which further
inspired him to pursue a career in energy after college.

Rey’s first big step into the professional world came with his role at Aboitiz
Power’s Aseagas, where he was tasked with solving the toughest challenges in
wastewater treatment. “Those were exciting and challenging years,” he recalls.
This experience taught him how to effectively network internationally, which he
considers as one of his superpowers until now. Their COO, his mentor, exposed
him to a lot of opportunities. But just as his career seemed to be gaining
momentum, the company folded, leaving Rey at a crossroads.

Rey at the first waste-to-energy plant of Aboitiz, Aseagas. Behind him is a
scrubber which cleans the biogas before it gets converted to power.“It felt like
a huge setback,” he admits. But in true Aboitiz fashion, opportunity often
arises from adversity. Recognizing his potential, Aboitiz leaders offered Rey a
new role—this time in Vietnam.

Evolving on the Global Stage
Moving to Vietnam was a leap of faith for Rey, especially at only 24 years old,
one that took him far from home and into an entirely new culture. “I’ve never
been so far from my family and there was language barrier. But being immersed in
a new culture, getting mentored by some of the best leaders in the Group, and
being pushed outside my comfort zone made this move one of the most exciting
ones in my career,” he says.

Here, Rey is wearing the traditional Vietnamese attire called "ao dai"
(pronounced like "aw yahy") which his team wears in Vietnam during Lunar New
Year celebrations to recognize the company's achievements and people's
contributions to the success of the past year.The Vietnam assignment turned out
to be a pivotal moment in Rey’s career. Tasked with managing million-dollar
projects, he quickly found himself growing in ways he hadn’t anticipated. “I
encountered a lot of challenges, from earning the trust of the management even
as the youngest member of the team, to answering to Group level leaders and
implementing million dollar capital projects,” he shares.

“From a very technical role in Aseagas, I got to learn more about business
development when I was given opportunities to take part in M&A due diligence,
capital projects cost-benefit analysis, budgeting, and forecasting,” he adds.

After two years of overcoming obstacles and learning the ropes, Rey was promoted
to manager—a significant achievement at just 26 years old. “That experience
shaped me both professionally and personally,” he says. But as Rey grew, so did
his ambitions. He was ready for the next chapter.

Finding Purpose in the Foundry
Rey’s career took another major turn when he participated in the Aboitiz ExO
Sprint (also known as the Voyage), a program designed to foster innovation,
develop disruptive business models, and tackle global challenges. It was through
this experience that Rey found a deeper sense of personal purpose—his own
Massive Transformative Purpose (MTP): 'Do what makes you feel alive,' which
aligns with Aboitiz’s broader vision.

“This was a turning point for me,” Rey explains. “This was a pivotal moment of
clarity. While plant operations were undoubtedly critical and valuable, the
experience gave me a broader perspective.”

Rey soon joined the Aboitiz Foundry, where he worked on a project which he
considers as the highlight of his career so far: Novel Protein or Hiraya. “The
Foundry, with its promise of transformation and future-building, was the ideal
platform for me to align my personal mission with my professional goals,” he
says. The project, which focused on food security and climate change, resonated
deeply with Rey, who saw it as an opportunity to tackle global challenges with
science and engineering.

“I got so inspired by this project because who would have thought that 15 years
ago I was just this young boy doing his chemistry homework in the mountains,
with just an oil lamp as his source of light and the sound of crickets as his
background music? Fast forward to 2023, and that young boy was in the boardroom
of a NASDAQ-listed company in the US and in a synthetic biology laboratory in
Silicon Valley, surrounded by chemical engineers and business leaders,
discussing partnerships to achieve a common noble goal: combat climate change
through science and engineering.”

Rey works in a synthetic biology laboratory where waste carbon is converted into
proteins for animal and human consumption, with research focused on scaling this
process.From Operations to Foresight
Today, Rey is part of the Transformation Team, where he applies his engineering
background and international experience to his role as Foresight Lead. “Moving
around within the Group has also made me more strategic as a leader. When you’ve
been exposed to different functions—like operations, business development, and
now foresight—you start to see how all the pieces fit together,” he reflects.

In his current role, Rey focuses on anticipating future challenges and
opportunities, helping Aboitiz stay ahead in a rapidly changing world. “My
engineering background has been key in helping me navigate my current role in
Foresight. The problem-solving mindset I developed during my engineering
days—where I learned to break down complex problems and look for innovative
solutions—really comes in handy when I’m mapping out future scenarios and
exploring possible outcomes for Aboitiz,” he explains.

Rey is particularly excited about the potential to shape Aboitiz’s future in
areas like sustainability and climate change. “We’re not just reacting to
trends; we’re proactively looking ahead to anticipate challenges and
opportunities,” he says. “The work we do helps Aboitiz not just keep up with
these changes, but to be a leader in driving transformation across industries.”

On Growth and Leadership
Rey’s journey through various roles within Aboitiz has taught him the value of
resilience and adaptability. “One thing I’ve learned in my journey at Aboitiz is
that stepping out of your comfort zone is where real growth happens,” he says.
“Each move—from Aseagas to Vietnam to the Foundry and now to Foresight in the
Transformation Team—has taught me something new, made me more adaptable, and
helped me build resilience.”

His advice to others considering a similar path is to embrace uncertainty. “My
advice to anyone considering a similar journey is to embrace the unknown and be
open to learning… Don’t hesitate to say yes to new opportunities, especially if
they scare you a little. These experiences will not only make you a better
professional but also a more well-rounded and strategic leader in the long run.”

As Rey continues his journey at Aboitiz, he remains committed to personal and
professional growth. “I envision my personal growth being centered on continuous
learning and expanding my leadership capabilities,” he says. His work in
Foresight allows him to stay connected to global trends and challenges, ensuring
that Aboitiz is always ready for the future.

From his early days as a young engineer navigating the complexities of
wastewater treatment to his current role in shaping Aboitiz’s future, Rey’s
story is a testament to the power of being open, purpose-driven, and having the
courage to take bold steps forward.

And while his Great Transformation journey is far from over, one thing is clear:
Rey’s passion for innovation and transformation will continue to drive him—and
Aboitiz—toward new horizons.

Charting New Horizons: An Engineer’s Journey Through Transformation at Aboitiz

ABOITIZ INFRACAPITAL DELIVERS POST-KRISTINE AID. Aboitiz InfraCapital (AIC), led
by AIC First Vice President for Corporate Affairs Christopher M. Camba (right)
and AIC External Affairs Manager Keith Martin Quimno (left), led the turnover of
150 food packs and 150 five-liter water containers for Ilonggo families affected
by Typhoon Kristine. These were received by Iloilo City Administrator Melchor U.
Tan (center) in Iloilo City Hall on October 28, 2024. Overall, AIC has assisted
2,750 families affected by Typhoon Kristine nationwide.Aboitiz InfraCapital,
Inc. (AIC), the infrastructure arm of the Aboitiz Group, has mobilized its
business units in coordination with Aboitiz Foundation, Inc. to provide
immediate relief and assistance to about 2,750 families affected by the recent
onslaught of Typhoon Kristine.

Through volunteers, AIC donated relief packs containing essential food items
such as canned goods, rice, noodles, crackers, coffee, and bottled water. Each
relief pack is suitable for a family of four.

> Our commitment to supporting the resilience of Filipino communities drives us to
act quickly in times of crisis. By mobilizing resources across our business
units, we hope to bring immediate relief and begin the path toward recovery for
the families affected by Typhoon Kristine. 

–Cosette V. Canilao, President & CEO, Aboitiz InfraCapital
Batangas And Tarlac
TURNOVER IN TARLAC. AIC’s donation to Tarlac City, home of AIC Economic Estates’
TARI Estate.With the support of Aboitiz Foundation, AIC Economic Estates, which
operates the 940-hectare LIMA Estate in Batangas and the 200-hectare TARI Estate
in Tarlac City, has collaborated with AboitizLand and Aboitiz Construction to
assemble approximately 1,500 relief packs for its communities. A total of 900
packs will support residents in Lipa City, while 600 packs are designated for
Tarlac City.

These were turned over to the Lipa City and Tarlac City local government units
(LGUs) on October 29.

LIPA CITY RECEIVES AID FROM ABOITIZ INFRACAPITAL. AIC partnered with AboitizLand
and Aboitiz Construction to assemble and turn over relief packs to Lipa City,
home of AIC Economic Estates’ LIMA Estate.A second batch of relief operations,
supported by donations from locators of LIMA Estate (the Philippines' largest
privately owned industrial-anchored estate), is planned for later in the week.

Iloilo
AIC has spearheaded similar relief efforts in Iloilo, delivering drinking water
and 750 relief packs on October 28 and 29 and committing 500 relief packs more
to the Iloilo Province and Iloilo City LGUs.

Typhoon Kristine has been cited as the Philippines’ deadliest storm for 2024 so
far, with 116 dead and 109 missing as of October 28. As of the same date, the
estimated damage to infrastructure stands at over PHP1.5 billion, while the
estimated damage to agriculture has already exceeded PHP2.5 billion.

Aboitiz InfraCapital Delivers Swift Aid To 2,700+ Families Hit By Typhoon Kristine

Jade Hazel Chiu

PARTNERSHIP RENEWED. The 3-year MOU between Davao Light and the Institute of
Integrated Electrical Engineers of the Philippines, Inc. (IIEE) Davao Chapter
was renewed with key officials present, namely, (front row, from left) IIEE
National President Dr. Florigo Varona, Davao Light Head Engr. Enriczar Tia, IIEE
Davao Chapter President Engr. Ricky Silawan, (back row, from left) IIEE Southern
Mindanao Regional Governor Engr. Byron Coquilla, IIEE Davao Chapter Board of
Director Engr. Miguelito Rosaban, Jr., IIEE National VP for External Affairs
Engr. Esperanza Collado, IIEE Davao Chapter Secretary Engr. Richard Regidor, and
VP for External Affairs Engr. Jonathan Medalla.Davao Light and the Institute of
Integrated Electrical Engineers of the Philippines, Inc. (IIEE) Davao Chapter
renewed their memorandum of understanding (MOU) to promote and strengthen
efforts in enhancing the professional development of the electrical engineering
community in Davao Region and Southern Mindanao.

The 3-year MOU was renewed with key officials present, namely, Davao Light Head
Engr. Enriczar Tia, IIEE National President Dr. Florigo Varona, IIEE National VP
for External Affairs Engr. Esperanza Collado, IIEE Southern Mindanao Regional
Governor Engr. Byron Coquilla, and IIEE Davao Chapter President Engr. Ricky
Silawan.

The partnership aims to advance the skills and knowledge of electrical engineers
in the region through strategic collaboration. Engr. Enriczar Tia emphasized the
partnership’s role in supporting community growth, upholding the electrical
engineering profession, and ensuring adherence to industry standards. “It is our
common advocacy to build competency, promote the electrical engineering
profession, and equip our electrical engineers with the right tools. We
recognize that here in Davao Light, there is a lot of expertise we want to
share,” Tia said.

Under the renewed MOU, IIEE will continue to provide vital support through
seminars and technical training sessions tailored to Davao Light’s needs and
will assist in accrediting the utility’s in-house training and capacity-building
programs to meet Continuing Professional Development (CPD) Council standards.
Meanwhile, Davao Light’s subject matter experts (SMEs) will contribute their
knowledge as Technical Resource Persons for IIEE’s regional seminars, workshops,
and technical trainings.

Davao Light is committed to harnessing its technical resources and skilled
personnel to support the success of the partnership’s initiatives while
recognizing employees’ important role in driving sustainable community
development.

INDUSTRY VISIT. Davao Light hosted the industry visit of the Professional
Regulation Commission (PRC) Board of Electrical Engineering with the IIEE
national and local officers at the electric utility’s 150MVA Digital Substation
and System Operations Control Center along J.P. Laurel Avenue, Davao City.The
partnership renewal was also supported by the Professional Regulation Commission
(PRC) Board of Electrical Engineering who joined the ceremony and toured Davao
Light’s 150MVA Digital Substation and System Operations Control Center along
J.P. Laurel Avenue, Davao City.

Hon. Jaime V. Mendoza, PRC Board of Electrical Engineering Member outlined that
AboitizPower can assist with professional development through power systems
planning and operation, distribution, transmission, and substation planning,
among others. He also emphasized safety, stating that “Safety is everybody’s
business. We are here for safety.”

The partnership between Davao Light and IIEE will continue fostering excellence
within the electrical engineering field, contributing to the growth of
professionals in the region while enhancing the operational capacities of both
organizations.

Davao Light aims to empower and add value to the communities it serves by
providing tools, services, and keys to efficiency and well-being, which will
bring about development in its franchise area covering the cities of Davao,
Panabo, and the municipalities of Carmen, Dujali, and Sto. Tomas.

Earl Gio Manuel

Aboitiz Construction celebrates its 49th anniversary this year, marking the
countdown to its golden anniversary in 2025. Founded in 1975 when Aboitiz and
Company acquired Hi-Speed Engineering, the company established Metaphil in 1978
in Cebu, specializing in steel fabrication and electromechanical works. Over the
years, it has navigated challenges to become a benchmark for safety, quality,
and reliability.
In 2017, the company officially rebranded as Aboitiz Construction, aligning its
brand with the Aboitiz Group, one of the largest conglomerates in the
Philippines. Last year, it achieved a notable milestone by becoming one of the
72 quadruple A contractors in the country, reflecting its evolution into a fully
equipped contractor capable of handling large-scale projects nationwide.

Aboitiz Construction, driven by its Massive Transformative Purpose of "Building
for Business to Prosper and Communities to Thrive," is committed to operational
excellence and quality structures. As it counts down to its 50th anniversary
next year, the company reflects on nearly five decades of achievements while
looking forward to new opportunities, promising a celebration of innovation,
growth, and leadership in the industry.

“As we celebrate our milestones, we thank our dedicated team members and valued
partners for their vital contributions. As we approach our 50th anniversary in
2025, we’re not just reflecting on our achievements; we’re looking forward to
new opportunities. Together, we will continue to build a legacy of excellence
and ensure that Aboitiz Construction remains a trusted partner in the
construction and maintenance industry,” said Aboitiz Construction Executive
Director Antonio Peñalver.

This year, Aboitiz Construction was also recognized for the third consecutive
year as one of the country’s Best Employers for 2025, based on a study conducted
by the Philippine Daily Inquirer and Statista, further solidifying its
commitment to excellence and employee satisfaction.

Aboitiz Construction has established a strong presence across the Philippines in
heavy and light industries, along with maintenance services, showcasing its
adaptability and commitment to quality. By partnering with numerous clients, the
company acts not just as a contractor but as a trusted ally, aiming to transform
visions into reality and create lasting impacts on communities and industries
alike.

In 2023, Aboitiz Construction broadened its scope by launching its Industrial
Maintenance segment, which quickly gained momentum. Key contracts include
waterproofing works for Mactan Cebu International Airport and maintenance works
for CEMEX Philippines, as well as contracts for shutdown works and routine
maintenance with various partners, including Therma South, Inc., AP Renewables,
Inc., Therma Visayas, Inc. and Taganito HPAL Nickel Corporation.

Aboitiz Construction has recently partnered with DICT Bulk Terminal, Inc. to
develop a new berth for cement shipments at the Davao International Container
Terminal in Panabo City, supporting economic growth in the Mindanao region.
Additionally, the company completed a project for Monde Nissin Corporation, for
its expanded bakery plant in Davao City, which will enhance food security and
create local jobs. Aboitiz Construction also designed and built five ambient
warehouses for FAST Logistics Group in Consolacion, Cebu, boosting logistics
operations and meeting the region's demand for efficient storage solutions.

Aboitiz Construction is currently building a food manufacturing plant for Big E
Food Corporation, known for Lemon Square, at LIMA Estate in Batangas, which
includes a production plant, an operations and maintenance building, and
ancillary structures. Additionally, the company is engaged in various projects
within the Aboitiz Group, leveraging its proven track record to meet expansion
needs, including a land development project on 72.2 hectares in LIMA Estate that
aims to create thousands of job opportunities for local communities.

Following Aboitiz InfraCapital's strategic acquisition of 200 hectares in Tarlac
City, Aboitiz Construction has started its comprehensive land development
activities this year, aiming to transform the area into a thriving economic zone
in Central Luzon.

As Aboitiz Construction approaches its golden anniversary in 2025, it is
dedicated to fostering growth, embracing new opportunities, and reinforcing
partnerships with clients throughout the country. By leveraging innovation and
synergies within the Aboitiz Group, the company is cementing its position as a
leader in the construction industry, poised for even greater achievements in the
years to come.

Construction

Aboitiz Construction Marks Milestones On The Road To Its Golden Anniversary In 2025

Aboitiz InfraCapital (AIC) has officially assumed full ownership today of
Aboitiz GMR Megawide Cebu Airport Corporation (AGMCAC), the developer and
operator of the award-winning Mactan-Cebu International Airport (MCIA).

AIC completed the exchange of the previously issued PhP15.5 billion notes from
AGMCAC’s Megawide Construction Corporation and GMR Airports International B.V.
for the remaining 66 and 2/3% plus one (1) share of AGMCAC’s outstanding capital
stock.

AIC acquired a 33 and 1/3% minus one (1) share stake in AGMCAC for PhP9.5
billion in a landmark deal last December 2022.

> Completing the acquisition of AGMCAC is a significant step forward in our vision
to enhance the Philippines’ airport infrastructure. With full ownership of
AGMCAC, we are committed to taking the airport to new heights, delivering
exceptional passenger experience, and cementing its status as a world-class
gateway. 

–Cosette V. Canilao, President & CEO, Aboitiz InfraCapital
The Mactan-Cebu International Airport Terminal 2 in Lapu-Lapu City, Cebu“MCIA is
more than just an airport; it’s a vital gateway to Cebu and the Philippines.
Given the airport’s expansive growth, with international and domestic traffic
growing by 35% and 8%, respectively, year on year, we will continue to elevate
the airport and, thus, Filipino aviation by setting new standards for what it
means to be a Filipino brand of airport management and operations,” said Rafael
M. Aboitiz, AIC Vice President and Head of Airports Business.

Since AIC joined the AGMCAC consortium, MCIA has continued to live up to its
commitment to elevate passenger experience. This includes the introduction of a
more serene terminal atmosphere via the Silent Airport initiative and seamless
and efficient airport transfers via Cebu Connect.

Under Cebu Connect, transfer times will be reduced significantly – from 90
minutes to 60 minutes for international connections and from 60 minutes to 35
minutes for domestic connections – making travel more seamless and enjoyable for
MCIA travelers.

MCIA has also been recognized and accredited by international award-giving
bodies such as the Airports Council International for its pioneering
sustainability projects like the installation of Bridge-Mounted Equipment, which
makes use of aircraft on-the-ground power solutions such as fixed-power units
and pre-conditioned air services to reduce carbon emissions and offset fuel
costs upon passenger boarding and arrival.

AGMCAC’s acquisition is aligned with AIC’s strategy of strengthening its
presence in the airport sector to help further revitalize the country’s tourism
industry, and support AIC’s broader goal of helping accelerate the Philippines’
economic recovery and growth through transformative infrastructure projects.

This also comes after AIC recently signed the concession agreement to upgrade,
operate, and maintain Laguindingan International Airport in Misamis Oriental,
the country's sixth-busiest gateway, with turnover in April 2025.

> The Bank efficiently allocated its capital to expand its consumer lending
activities, which was evident in our record-high net revenues. The leading
indicators brought about by our growing retail customers are very promising. 

–Edwin R. Bautista, Chief Executive Officer, UnionBank
Union Bank of the Philippines delivered a net income of PHP8.6 billion for the
first nine months of 2024. In the third quarter of 2024 alone, net income was at
PHP3.5 billion, an increase of 76% vs 3Q2023 and 14% vs the previous quarter.

The Bank has recorded net revenues of PHP57.7 billion for the first nine months
of 2024, which is 9.2% higher than the PHP52.8 billion recorded in the same
period last year. The improvement in performance is mainly attributable to the
expanding parent bank’s consumer portfolio.

Net interest income grew by 14.2% to PHP42.6 billion as net interest margin
improved by 58 bps year-on-year. The Bank’s net interest margin is among the
highest in the industry at 5.9%. Moreover, the bank’s ability to generate
fee-income as a proportion to its assets is at 1.0%. This is more than double
the Philippine banking industry’s average. Notably, consumer loans now account
for 60% of its total loan portfolio, which is nearly 3x higher than the industry
average.

The Bank’s operating expenses stood at PHP33.0 billion. IT related expenses went
down by 17.3% vs the first nine months of 2023. The downward trend in IT
expenses started when we concluded the integration of the acquired Citi consumer
business earlier this year. The Bank continued to invest on customer
acquisition, service delivery, and client engagement to maintain its strong
momentum in the growth of its consumer business. This has resulted in the strong
growth in our customer base, which is now over 15 million as of September 2024.
This includes close to 500 thousand new credit card clients this year. Total
assets as of September 2024 ended at PHP1.1 trillion.

Total loans and receivables–net reached PHP523.2 billion, while low-cost CASA
deposits at PHP419.4 billion.

“The large proportion of our consumer portfolio is reflected in the continuous
improvement of the bank’s net interest margin. With the improving macroeconomic
backdrop and expectations of declining interest rates, there is still room for
further margin expansion. We should be able to reprice our funding cost
downwards, while sustaining the high yields coming from our consumer business,”
said Manuel Lozano, Chief Financial Officer.

“The Bank efficiently allocated its capital to expand its consumer lending
activities, which was evident in our record-high net revenues. The leading
indicators brought about by our growing retail customers are very promising. Our
new-to-bank credit card customers per month are averaging 2.5x higher than last
year. The active users of our digital channels have increased to 5.6 million
from 4.7 million last year. Consequently, we have seen digital fund transfer
transactions growing by 40% year-on-year. These customer metrics are the ones
driving revenues today and onto the future,” said Edwin Bautista, Chief
Executive Officer.

Banking and Financial Services

UnionBank Year-To-Date Net Income At PHP8.6B

Aly Virrey

By Daisy Valenciano and Aly Virrey [/author/aly]

As we approach the end of the Year of Becoming, culture building has proven to
be a vital foundation in our Great Transformation. The success of GT2025 rests
on the strength of our A-People, whose dedication and teamwork drive our journey
to becoming the country’s first techglomerate. With alignment and empowerment at
the core of this Transformation, our focus on cultivating a strong, innovative
culture is more important than ever.

In this special series, Aboitiz Eyes revisits our Culture Pillar Squads,
highlighting the Year 2 milestones it has achieved together with A-People across
the Group. This is another form of Synergy–one more rooted in our DNA and
focused on mindset.

Recap: The Transformation Pillars
In 2022, Aboitiz identified key pillars essential to driving the Group's Great
Transformation. Among them is the Culture Pillar, focused on transforming
mindset, capabilities, and agility to support the organization's techglomerate
aspirations. Also known as the Culture Tribe, this Pillar emphasizes a
people-centric approach, ensuring that all A-People are aligned with the
mission. Led by UnionBank’s Chief Human Resources Officer, Michelle Rubio, the
Tribe's efforts are anchored on three core missions: Shared Mindset and
Transformed Behavior, Techglomerate Capabilities, and Agile Innovation and Ways
of Working.

Squad 2 continues to fulfill its mandate by identifying techglomerate
capabilities and developing blended learning programs tailored to them.
Emphasizing innovative approaches to upskilling, reskilling, and newskilling our
A-People, they’ve built on last year’s successes with initiatives like Agile
Squad Onboarding, Aboitiz Agile Champions, and various learning sessions. This
year, their focus has accelerated, particularly in capability building around
Data, GenAI, and Agile methodologies.

Data Science Bootcamp
Graduates from Batch 1 of the Data Science Bootcamp proudly mark their
achievements after completing the intensive program, driving Aboitiz’s journey
toward data-driven excellence.Following through from last year, the Data Science
Bootcamp celebrated its first batch of graduates last January 12, with 30
participants completing online modules, enrichment sessions, and data science
challenges. In addition to this, five Data Science Challenge groups and 25
module completers achieved a 100% completion rate for all 19 modules. The
program also recognized 10 individuals for outstanding performance, along with
SBU recognition for AboitizPower. Read more about it here
[https://aboitizeyes.aboitiz.com/post/crossing-the-finish-line-toward-our-data-driven-future?ct=t%28020724-+Citizen-Data-Scientists%29]
.

Data Science Bootcamp 2.0 offers modules in Python, Machine Learning, and more,
encouraging both new participants and those continuing their learning journey to
level up their knowledge on Data.Building on this success, Season 2 of the Data
Science Bootcamp launched on April 22, with a remarkable 338 participants
groupwide as of May. The program introduced a new, learner-led bootcamp design,
offering flexibility for both new and continuing participants, allowing them to
tailor their learning pace. Participants can choose when to complete self-paced
modules, enrichment sessions, and challenges. The use of Google Classroom
fosters community engagement, while Calendly automates scheduling for enrichment
sessions, supporting ongoing virtual learning and development. 

Initiatives to empower growth
In 2024, Squad 2 made significant strides in capability building with the 
groupwide deployment of a core capability self-assessment tool, now fully
integrated into the Aboitiz Academy dashboard. This tool allows team members to
evaluate their progress and align their growth with organizational goals.
Additionally, several key programs were launched to further enhance skills,
including the second release of LinkedIn Learning courses, strategically mapped
to the A+10 core behaviors. Other initiatives included advanced training in 
Agile Ways of Working and access to GenAI learning resources from Gartner,
equipping A-People with cutting-edge knowledge to thrive in the tech-driven
future.

Skills of the future
Learning session on Effective GenAI Prompt Engineering, a collaborative effort
from Aboitiz Academy and AEV Transformative Technology teamAs we enter 2025, the
Year of Being, Squad 2’s focus remains on advancing capability programs that
empower team members with critical skills. Continuing initiatives include 
digital and data literacy, GenAI prompt engineering, systems thinking, and GT
storytelling. The successful Data Science Bootcamp will also carry on, with more
participants joining the learning journey. Additionally, gamified review
sessions will be introduced to support team members pursuing certification for
Professional Scrum Master and Product Owner roles, reinforcing a commitment to
agile excellence and continuous learning.

Stay tuned for the next chapters in our Special Series, where we highlight the
incredible milestones achieved by Squads 1 and 3!

About the Culture Pillar
The Aboitiz Culture Pillar remains a key driver in the Group's Great
Transformation, ensuring every team member is aligned with the organization's
goals and aspirations in collaboration with the AEV Transformation Team. As we
continue this cultural evolution, each leader and A-Person plays an essential
role in shaping our journey toward becoming a techglomerate. To dive deeper into
the Culture Pillar’s mission and access the latest updates, stories, and
resources, visit the Transformation Microsite
[https://sites.google.com/aboitiz.com/aboitiz-transformation/aboitiz-culture-pillar] 
today!

How Culture Tribe Squad 2 is Accelerating a Future-Ready Aboitiz

By Ronadell Hongo

October is Aboitiz Equity Ventures’ annual cybersecurity month and, as in
previous years, the SecSee Forum 2024—with a theme "Secure Our World"—brought an
exciting lineup of activities focused on strengthening digital safety across the
organization.
In line with CISA’s Cybersecurity Awareness Month theme, SecSee Forum 2024
offered a compelling lineup of CyberSecurity  awareness campaigns, interactive
games, specialized training sessions, and collaborative events that empowered
our A-People to become more cyber-savvy and resilient against today’s digital
threats. These engaging activities fostered a culture of cybersecurity
vigilance, equipping every team member with the skills and awareness to
safeguard both personal and organizational  information and digital assets in an
increasingly complex cyber space.


--------------------------------------------------------------------------------

Training
SecSee 2024 put a strong focus on practical learning, with the Cybersecurity
Awareness Training via KnowBe4 leading the charge. Team members delved into
essential topics through awareness campaigns covering critical areas like
Phishing, Password Security, AI Security, and Multi-Factor Authentication (MFA).
Each session was designed to address specific vulnerabilities and teach them how
to spot, prevent, and respond to cyber threats confidently.

Through these specialized training sessions, our A-People gained a deeper
understanding of how cyber-attacks can compromise digital assets and personal
information. From identifying phishing attempts to setting up secure MFA, these
trainings empowered our workforce to make smarter, safer choices online,
building a digitally resilient organization ready to face any cyber challenge.

Gamified Awareness
SecSee 2024 also made cybersecurity fun and competitive with a series of
interactive games that brought learning to life. By combining practical training
with gamified learning, activities like Spot the Phish and Password Battle 
tested team members’ skills in identifying suspicious links and creating strong
passwords.

An engaging Kahoot Cybersecurity Game sparked friendly competition and
reinforced key lessons from the training. To encourage participation, the first
three team members to complete their awareness training received special
recognition, while raffle prizes added excitement to the experience.

These interactive games not only motivated our A-People to sharpen their skills
but also fostered camaraderie and a shared commitment to cybersecurity.

SecSee Forum
SecSee 2024 wrapped up with a forum at Caf8, where cybersecurity experts,
leaders, and team members came together for a day of insight and learning.
Keynote talks set the stage, highlighting the latest cyber threats, followed by
a live cyber-attack demonstration that showed just how quickly breaches can
occur and the importance of fast responses.


Throughout the forum, team members engaged directly with experts, asking
pressing questions about cybersecurity practices and gaining valuable,
real-world advice to strengthen their digital defenses.

Four standout sessions focused on critical topics: Cyberwarfare, AI Security,
Security Assessment, and Hybrid Workforce.

Cyberwarfare
Speaker: Col Francel Margareth Taborlupa
Chief, Information Systems Management Division and Spokesperson, Armed Forces of
the Philippines

Col Francel opened the session on Cyberwarfare by examining the geopolitical
implications of state-sponsored cyber attacks and the vulnerabilities of
national infrastructure. She highlighted the urgency for nations to collaborate
on cyber defense standards and warned of the potential escalation into more
destructive conflicts if such efforts stall.

AI Security
Speaker: Mark Anthony Javiero
Senior Director, SGV

AI systems’ security was the focus of Mark’s presentation, where he explored the
risks AI brings into organizations and the importance of protecting these
systems.  Some identified risks were data leakage, advanced cyber attacks, and
fake biometrics.  He also discussed potential risk mitigation underscoring the
importance of continuous advancements in AI security.

Why are security assessments crucial to an organization?
Speaker: Gonz Gonzales
President, Cloud Security Alliance

Gonz tackled the increasingly important topic of security assessments,
emphasizing how an organization’s security is only as strong as its weakest
link. Cybersecurity assessments are essential for identifying vulnerabilities,
mitigating risks, and ensuring compliance. Regular assessments provide
organizations with a roadmap for improving security posture. By proactively
addressing threats, organizations can protect their assets, reputation, and
customer trust.

Hybrid Workforce
Speaker: Alex Adallom
Security Solutions Consultant, Palo Alto Networks

Alex’s  session on the hybrid workforce addressed the security challenges posed
by the shift to remote and flexible working arrangements. He discussed how
hybrid work models have expanded the attack surface and introduced risks
associated with unsecured home networks and personal devices. His
recommendations included adopting Zero Trust architectures, providing employees
with secure access to corporate networks, and enhancing endpoint security.

Empowering Our Secure Future
Together, through SecSee Forum 2024, we’ve taken a significant stride towards a
future-proof organization. By equipping our A-People with the knowledge and
skills to combat cyber threats, we’re not just protecting our data, we’re
safeguarding our collective future.

> By proactively identifying and managing our risks, we can ensure that AEV
remains at the forefront of technological advancement while safeguarding its
long-term success.
Christine “Tin” Kempeneers, AEV Enterprise Risk Management Head and Data Privacy
Officer, has been awarded the Best Chief Risk Officer (CRO)/Risk Management
Officer (RMO) of the Year in the General Management & Services category at the
ISOG I AM SECURE Cybersecurity Excellence Awards. 
Presented by the Information Security Officers Group (ISOG), the award cites
Tin's leadership alongside the team's continued development of a comprehensive
risk management framework that aligns with the Aboitiz Group’s evolving goals in
building the Philippines' first techglomerate. For her, this achievement belongs
to every risk professional at Aboitiz and highlights the role of risk management
as a foundational element of business resilience and growth.

“Receiving this award is a significant honor, not only for me but for the entire
risk management team of AEV. It signifies recognition of our collective efforts
to build a robust risk management framework and a culture of risk awareness.
This award validates our commitment to protecting AEV's long-term value and
ensuring its sustainable growth,” she said.

It likewise serves as a reminder to risk management professionals across Aboitiz
of the vital role they play. Tin emphasized that effective risk management
supports business success by proactively identifying and mitigating potential
risks, ultimately securing the company’s future in a fast-changing globally
connected environment. Being honored by industry peers “reinforces AEV's
position as a leader in corporate governance and risk management. It
demonstrates [our] dedication to maintain the highest standards of risk
oversight and governance.” It is worth noting that Aboitiz is consistently
ranked among the best-managed companies in the Asean region.

Asked what lies ahead for our 100-plus-year-old-company-turned life-changing
startup, Tin presents clear and deliberate insights on the future of risk
management in Aboitiz: 

On the challenge side, we will continue to deal with the complexities of
integrating technology across diverse industries, ensuring seamless data flow
and cybersecurity. Additionally, attracting and retaining the right talent in a
competitive market will be crucial. We may have the plans, tools and resources
but w/o the right people to make things happen, we will find it challenging to
meet our goals. 

On the opportunity side, the techglomerate model empowers us to leverage
synergies across our businesses, driving innovation and efficiency. We can tap
into emerging technologies like AI and data analytics to optimize operations,
enhance customer experiences, and develop innovative products and services. 

Moving forward, we also need to have a proactive approach to identify emerging
risks, such as those associated with artificial intelligence, automation, and
digital transformation. By proactively identifying and managing our risks, we
can ensure that AEV remains at the forefront of technological advancement while
safeguarding its long-term success.

As the Aboitiz Group prepares for the road—and new frontiers—beyond GT2025, risk
management remains a critical pillar in safeguarding the company’s mission to
create long-term value for all our stakeholders. The risk management function is
evolving as a key enabler of sustainable success, empowered by leadership,
innovation, and a commitment to excellence.

The 2024 ISOG I AM SECURE Cybersecurity Excellence Awards, held on October 17 at
The Peninsula Manila in Makati City, celebrated the notable contributions of
Filipino cybersecurity and risk management professionals who are shaping a more
secure digital landscape for the nation. ISOG is committed to fostering
cybersecurity excellence in the Philippines and strengthening risk management
practices in the financial sector and beyond through collaboration and shared
intelligence.

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