Lopez Group of Companies

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Lopez Holdings Corporation
(López Group of Companies)
Public
IndustryVarious (conglomerate)
Founded1928; 90 years ago (1928)
FounderEugenio H. López, Sr. and Fernando H. López
Headquarters5/F Benpres Bldg., Exchange Rd, Ortigas Center, Pasig City, Metro Manila, Philippines
Key people
Oscar M. López, Chairman Emeritus
Manuel M. López, Chairman and Chief Executive Officer
Eugenio L. López III, Vice Chairman of the Board of Director
Federico R. López, Treasurer & Comptroller - Member of the Board of Directors
RevenueDecrease PHP 91.9 billion (2016)
Increase PHP 26.5 billion (2016)
Increase PHP 20.7 billion (2016)
Total assetsIncrease PHP 366.2 billion (2016)
Total equityIncrease PHP 159.5 billion (2016)
ParentLópez, Inc. (52.6%)
SubsidiariesABS-CBN Corporation
Sky Cable Corporation
Manila Electric Company
First Philippine Holdings Corporation
First Gen Corporation
First Philec Corporation
First Philippine Industrial Park
Rockwell Land Corporation
Websitelopezlink.ph
www.lopez-holdings.ph

López Holdings Corporation (formerly Benpres Holdings Corporation) is a Filipino conglomerate founded by the brothers Eugenio López, Sr. and Fernando López. It has substantial holdings in the public service and utilities sector in the Philippines and serves as the López family's publicly listed holding company for investments in major development sectors such as broadcasting and cable; telecommunications; power generation and distribution; manufacturing; and property development. It added to its portfolio investments in other basic service sectors but has also since sold its interest in banking, toll roads, information technology, and health care delivery.

López Holdings Corporation is majority-owned by López, Inc., a private holding and investment entity of the López family.

Businesses[edit]

Media and Telecommunications[edit]

  • ABS-CBN Corporation (formerly ABS-CBN Broadcasting Corporation) - a publicly listed company and the country's largest media conglomerate. It is currently involved in broadcast radio and television as well as cable television (SkyCable, Creative Communications, Inc.), television programming, films, publishing, licensing, and websites. Its flagship television station, ABS-CBN is the leading television network in the country and is available worldwide through The Filipino Channel. López Holdings owns 57.24% of ABS-CBN Corporation as of 2014.
  • Sky Vision Corporation - is a holding company incorporated on March 25, 1991 with the primary purpose of owning controlling stocks on Sky Cable Corporation. It started commercial operations on February 1, 1992. It is owned 55% by ABS-CBN Corporation, 5% by López Holdings Corporation and 40% by Sampaquita Communications Pte. Ltd.[1] Sky Cable acquired Destiny Cable in 2012.

Power and Energy[edit]

  • First Philippine Holdings Corporation (First Holdings) - a holding company whose core businesses are in power generation and distribution, with strategic initiatives[clarification needed] in manufacturing, property and infrastructure. Lopez holdings owns 46.6% of FPHC as of December 2011.

Power Generation[edit]

  • First Gen Corporation (First Gen) - is the holding company of First Holdings in power generation and energy-related businesses. First Holdings owns 76% of First Gen.
  • First Gas Holdings Corporation (FGHC) - established in 1994 as a joint-venture between First Holdings and the BG Group to develop natural gas projects in the Philippines using natural gas from the Malampaya gas field. FGHC is now a wholly owned subsidiary of First Gen acquiring the 40% interest of BG Group in 2012.
  • First Gas Power Corporation (FGPC) - established in 1994 as a joint-venture between First Holdings and the BG Group to operate a 1,000 MW power plant in Santa Rita, Batangas. In May 2012, First Gen acquired the 40% interest of the BG Group, making FGPC an indirect wholly owned subsidiary of First Gen.
  • FGP Corporation (FGP) - established in 1997 as a joint-venture between First Holdings and the BG Group to operate a 500 MW power plant in San Lorenzo, Batangas. In May 2012, First Gen acquired the 40% interest of the BG Group, making FGPC an indirect wholly owned subsidiary of First Gen.
  • FG Hydro Power Corporation - First Gen Hydro Power Corporation (FG Hydro) was incorporated as a wholly owned subsidiary of First Gen.
  • FG Bukidnon Power Corporation
  • First Gen Renewables, Inc. (FGRI), formerly known as First Philippine Energy Corporation, was established in 1978 to develop prospects in the renewable energy market. First Gen owns 100% of FGRI.
  • Energy Development Corporation - established in 1976,accounts for more than 60% of the country’s installed geothermal capacity. Its plants are located in the provinces of Leyte, Negros Oriental, Negros Occidental, Bicol and North Cotobato. In November 2007, First Gen Corporation bid for and won a 60-percent economic stake in EDC. As of 2011 First Gen owns over 46% of EDC.

Power Distribution[edit]

  • MERALCO (Manila Electric Company) - acquired by the López Group 1962 and developed into a power-distributing company. First Holdings, now owns approximately 3.9% stake in the company after selling an additional 2.66% stake to Beacon Electric Asset Holdings (Beacon) early this year. First Holdings still has one (1) board seat. Beacon is now owned by the First Pacific group through Metro Pacific Investments Corporation.
  • PECO (Panay Electric Company) - First Holdings entered into a joint venture with the Panay Electric Company, Inc. (PECO) in March 1996 for the construction of a US 72 million diesel-fired power plant in Iloilo City. First Holdings acquired a 30 percent equity in PECO. In turn, PECO subscribed to a 30 percent equity interest in Panay Power Corporation. First Holdings currently owns 30% of PECO.

Real estate[edit]

  • Rockwell Land Corporation (RLC) - a high-end real estate development corporation initially tasked to develop the Rockwell Center in Makati City. Rockwell Land was established in 1995. FPHC now owns 85% of Rockwell Land after buying the shares of MPIC and SMC groups in Rockwell Land.[2]
  • First Philippine Industrial Park (FPIP) - a 315-hectare industrial estate. FPIP is a joint venture with Sumitomo Corporation of Japan which owns 30% while First Holdings owns 70%, formed in 1996 to develop an industrial park located in Sto. Tomas, Batangas.
  • First Philippine Realty Corp., formerly known as INAEC Development Corporation - primarily engaged in the acquisition, disposal, or lease of real and personal property. FPRC is a wholly owned subsidiary of First Holdings.
  • TerraPrime Inc. - incorporated in May 2011 as a joint-venture between First Balfour and Estuar Development Corporation. The company is engaged in real estate development.[3]

Infrastructure[edit]

  • First Balfour, Inc. - is one of the country’s largest engineering and construction companies today, with 49 years in business. First Balfour, Inc. is a wholly owned subsidiary of First Philippine Holdings.
  • First Philippine Industrial Corp.- owns and operates the sole, largest commercial oil pipeline in the country, transporting crude and refined petroleum products from Batangas to Metro Manila. FPIC is 60% owned by First Holdings, in partnership with Shell Petroleum Co., Ltd. (UK) which owns 40%.

Manufacturing[edit]

  • First Philippine Electric Corp. (First Philec)
  • Philippine Electric Corporation (Philec)
  • First Electro Dynamics Corporation (FEDCOR)
  • First Philippine Power Systems, Inc. (FPPS)
  • First Sumiden Circuits, Inc. (FSCI)
  • First Sumiden Realty, Inc.
  • First Philec Solar Corporation

Other Businesses of the Lopez Group[edit]

  • Asian Eye Institute
  • Bayad Center
  • Securities Transfer Services Inc. (STSI)
  • ADTEL
  • INAEC Aviation Corporation[4]

Former Businesses[edit]

  • Bayan Telecommunications Holdings Corporation (Bayan Holdings) - owns Bayan Telecommunications, one of the telecommunications company in the Philippines providing a full range of services which includes local exchange, domestic long distance, international long distance, data and payphone services. As of May 2011, Lopez Holdings held 47.3% Bayan Holdings. In 2013, Ayala-led Globe Telecom took over 98% of BayanTel via a debt to equity deal.
  • Maynilad Water Services - joint-venture between Benpres Holdings Corporation and Ondeo Water Services, Inc. (formerly Suez Lyonnaise de Eaux). Benpres left the joint-venture in 2006 in order to settle a debt of US$150 million.
  • The Medical City - in April 2008, Benpres sold its entire 18% stake in The Medical City to Lombard for Php600 million.
  • Tollways - in 2008, First Philippine Infrastructure Development Corporation and NLEX Corporation were sold to Metro Pacific Investments Corporation.
  • Philippine Commercial International Bank - a joint venture between Benpres and the JG Summit Holdings. Both sold their shares in 1999 to the SSS and GSIS which gave way to the Equitable Banking Corporation - Philippine Commercial International Bank merger which formed Equitable PCI Bank and was eventually bought by Banco de Oro Universal Bank becoming BDO-EPCI inc. and finally deciding the name to BDO Unibank.

References[edit]

  1. The Lopez Family: its Origins and Genealogy, edited and introduced by Oscar M. Lopez [1]
  2. Phoenix: The Saga of the Lopez Family by Raul Rodrigo
  3. The Power and the Glory: the story of the Manila Chronicle 1945-1998
  4. Lopez Holdings Corporation, official corporate website
  5. Lopez Family Values -- Philanthropy in the Philippines as published in The Synergos Institute's Global Giving Matters
  6. Lopez Link, the monthly newsletter of the Lopez Group of companies

Further reading[edit]