Conglomerate Ayala Corp. is studying investment opportunities in
Burma (Myanmar)—considered to be Southeast Asia’s last
frontier—particularly in the fields of telecommunications
, real estate and banking, as part of its regional expansion thrust.
, real estate and banking, as part of its regional expansion thrust.
The group has likewise affirmed an aggressive domestic expansion,
riding on the Philippines’ projected growth trajectory. The group has
committed $1 billion in equity over a five-year period to invest in
power and infrastructure, in line with its strategy to consistently provide a 15-percent return on equity to shareholders.
, in line with its strategy to consistently provide a 15-percent return on equity to shareholders.
“We have made progress in scaling up investments in new businesses,
particularly in the energy sector. From virtually no exposure to the
industry two years ago, we are now participating in various power
generation projects across conventional and renewable energy platforms,”
Ayala chair and chief executive officer Jaime Zobel de Ayala told
stockholders.
,
particularly in the energy sector. From virtually no exposure to the
industry two years ago, we are now participating in various power
generation projects across conventional and renewable energy platforms,”
Ayala chair and chief executive officer Jaime Zobel de Ayala told
stockholders.
About 70 percent of the fresh equity the group will deploy will go to conventional sources while the rest will fund renewable energy projects in the first five years, said Ayala managing director Eric Francia.
projects in the first five years, said Ayala managing director Eric Francia.
On overseas businesses, Ayala said that apart, from the group’s
two global businesses—Integrated Microelectronics Inc. and LiveIT
Holdings—each of Ayala’s operating units would pursue other
opportunities. He cited Ayala Land’s property investment in China,
Manila Water’s projects in Vietnam, as well as pending water projects in
Indonesia.
Burma is a new growth area that the group is keen on. In
telecommunications, Ayala said Singapore Telecommunications Ltd., the
group’s partner in Globe Telecom, is working on a bid for a new
telecommunications setup in Burma.
Ayala added that the group is looking at real estate and banking opportunities in Burma.
opportunities in Burma.
Burma is “the last country in Asean to open
up. It’s in the process of modernizing and opening itself up to foreign
investments,” he said.
source: Inquirer Business
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