Lopez Holdings Corporation investees are well on the way to achieving their strategic objectives to grow their respective portfolios in a sustainable manner. Lopez Holdings owns 46% of First Philippine Holdings Corporation (FPH) and holds a 56% economic interest in ABS-CBN Corporation.
At its annual meeting on June 16, Lopez Holdings president Salvador G. Tirona told shareholders the company is convinced ABS-CBN will be able to achieve its targets in executing its digital convergence strategy.
“ABS-CBN Mobile is gaining traction with its chosen markets because of its highly desired exclusive content using applications like iWant TV and iWant Stars. We expect them to reach break-even point by next year,” he said.
Lopez Holdings invested over P1.5 billion in ABS-CBN in 2013, together with a strategic partner (The Capital Group) which invested P2.5B, to launch ABS-CBN Mobile’s commercial operations, as well as roll out its digital TV service once implementing rules are published.
Meanwhile, the energy units under FPH are improving efficiencies and getting more power plants back on line after being hounded by untoward incidents in 2013, including a fire and a typhoon. Its property subsidiaries, Rockwell Land Corporation and First Philippine Industrial Park, are also in expansion mode.
“To use a favorite analogy of the FPH chairman (Federico R. Lopez), FPH has the right people on the right bus going in the right direction. They are very clear on their objectives and are aware of the risks and challenges along the way,” said Tirona.
The core investments of Lopez Holdings are in media and communications through ABS-CBN and in sustainable energy development, infrastructure, property development and green manufacturing through FPH. (Carla Paras- Sison)