First Philippine Holdings Corporation(First Holdings)
Established in 1961 by Don Eugenio Lopez and a group of Filipino entrepreneurs, First Philippine Holdings Corporation has served as the leading private sector Filipino-owned holding company with core investments in power generation, power distribution, infrastructure, and manufacturing. First Holdings (symbol: FPH) is listed in the Philippine stock exchange and has a market capitalization of USD661.4 million.
The scale of the Lopez family’s investments in the Philippines can best be illustrated by highlighting its major businesses:
Scope of Business Interests**
* Listed at the Philippine Stock Exchange, Market Cap figures are as based on April 8, 2008 closing prices.
** Diagram is for illustration purposes only – not reflective of actual reporting and ownership structure
Manila Electric Company or MERALCO (symbol: MER)
Is the largest power distributor in the Philippines with a customer base of about 4 million. The combined production output of its commercial and industrial clients account for about half of the country’s gross domestic product. The company was established 105 years ago. It has a market capitalization of USD 2.1billion .
First Gen Corporation (symbol: FGEN)
First Gen is the largest Filipino-owned power generation company. It supplies 16% of the country’s installed capacity of 16,012 MW supply in 15% of Luzon’s installed capacity of 12,310 MW. It is the largest vertically-integrated power generation player in the Philippines with its acquisition of a 60% stake in PNOC-EDC. First Gen is listed in the Philippine Stock Exchange and has a market capitalization of USD790.0 million1.
ABS CBN Broadcasting (symbol: ABS)
ABSCBN is the most watched TV station nationwide with an audience share of 46.3% in 2007. It has the widest global Filipino viewership with about 1.6 million viewers (excluding Philippine viewers). As of September 2007, the network boasts of the largest asset base worth USD591.3 million. It is also listed in the Philippine Stock Exchange and has a market capitalization of USD 462.0 million.
