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Ayala Corporation (, formerly ''Ayala y Compañía''; ) is the
publicly listed A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (li ...
holding company A holding company is a company whose primary business is holding a controlling interest in the Security (finance), securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own Share ...
for the diversified interests of the Ayala Group. Founded in the
Philippines The Philippines, officially the Republic of the Philippines, is an Archipelagic state, archipelagic country in Southeast Asia. Located in the western Pacific Ocean, it consists of List of islands of the Philippines, 7,641 islands, with a tot ...
by Domingo Róxas and Antonio de Ayala during Spanish colonial rule, it is the country's oldest and largest conglomerate. The company has a portfolio of diverse business interests, including investments in retail, education, real estate, banking, telecommunications,
water infrastructure A water supply network or water supply system is a system of engineered hydrologic and hydraulic components that provide water supply. A water supply system typically includes the following: # A drainage basin (see water purification – source ...
,
renewable energy Renewable energy (also called green energy) is energy made from renewable resource, renewable natural resources that are replenished on a human lifetime, human timescale. The most widely used renewable energy types are solar energy, wind pow ...
,
electronics Electronics is a scientific and engineering discipline that studies and applies the principles of physics to design, create, and operate devices that manipulate electrons and other Electric charge, electrically charged particles. It is a subfield ...
, information technology, automotive, healthcare, management, and business process outsourcing. As of November 2015, it is the country's largest corporation in terms of assets ($48.7 billion).


History

''Ayala y Compañía'' was established in 1876 and traces its origins to Casa Róxas, a partnership established in 1834 between landowner and entrepreneur Domingo Róxas and his employee Antonio de Ayala.https://www.cia.gov/readingroom/docs/CIA-RDP90-00494R001100710133-1.pdf Their enterprise began with the formation of a distillery which became known as the maker of
Ginebra San Miguel Ginebra San Miguel, Inc. (; GSMI), formerly La Tondeña Distillers, Inc., is a Philippines-based diversified beverage company majority-owned by San Miguel Food and Beverage, Inc. History La Tondeña was established in 1902 by Carlos T. Pal ...
. Initially named ''Destileria y Licoreria de Ayala y Compañía '', it was known ultimately as the Ayala Distillery and was acquired by Carlos Palanca-ownedhttps://rum.cz/galery/sas/ph/tondena/index-en.htm La Tondeña, Inc. in 1929. In 1888, the company introduced the first
tramcar A tram (also known as a streetcar or trolley in Canada and the United States) is an urban rail transit in which vehicles, whether individual railcars or multiple-unit trains, run on tramway tracks on urban public streets; some include segment ...
service in the Philippines. The company participated in the construction of the
Ayala Bridge The Ayala Bridge () is a steel truss bridge over the Pasig River in Manila, Philippines. It connects the districts of Ermita and San Miguel, Manila, San Miguel, passing over the western tip of Isla de Convalecencia. It carries Circumferential R ...
over the
Pasig River The Pasig River (; ) is a water body in the Philippines that connects Laguna de Bay to Manila Bay. Stretching for , it bisects the Philippine capital of Manila and Metro Manila, its surrounding urban area into northern and southern halves. Its m ...
in Manila. Originally built of wood in 1872, the bridge was reconstructed in steel in 1908 to become the first steel bridge in the Philippines. Under the leadership of Colonel Joseph Ralph McMickin - who was married to Mercedes Zobel de Ayala - the company was also responsible for the urban development of
Makati Makati ( ; ), officially the City of Makati (), is a highly urbanized city in the National Capital Region of the Philippines, known for being one of the leading financial centers in the country. As of 2013, the city has the highest concent ...
after
World War II World War II or the Second World War (1 September 1939 – 2 September 1945) was a World war, global conflict between two coalitions: the Allies of World War II, Allies and the Axis powers. World War II by country, Nearly all of the wo ...
. ''Ayala y Compañía'' shifted from a partnership to a corporation with the establishment of Ayala Corporation in 1968. It welcomed the minority investment of
Mitsubishi Corporation is a Japanese general trading company ( ''sogo shosha'') and a core member of the Mitsubishi Group. For much of the post-war period, Mitsubishi Corporation has been the largest of the five great ''sogo shosha'' (Mitsubishi, Mitsui, Itochu, S ...
as its strategic partner in 1973https://www.cia.gov/readingroom/docs/CIA-RDP90-00494R001100710133-1.pdf -1974. The Ayala Corporation later became a public company in 1976. In 2011, the Ayala Corporation began building its renewable energy portfolio, beginning with a joint venture with
Mitsubishi The is a group of autonomous Japanese multinational companies in a variety of industries. Founded by Yatarō Iwasaki in 1870, the Mitsubishi Group traces its origins to the Mitsubishi zaibatsu, a unified company that existed from 1870 to 194 ...
for solar power and Sta. Clara Power for
run-of-the-river Run-of-river hydroelectricity (ROR) or run-of-the-river hydroelectricity is a type of hydroelectric generation plant whereby little or no water storage is provided. Run-of-the-river power plants may have no water storage at all or a limited amou ...
hydro power, and the purchase of the iconic Northwind farm for wind power. Ayala will contribute 1000 MW to the Philippine power supply by 2015. ''
FinanceAsia ''FinanceAsia'' is a Hong Kong–based publication reporting on Asia Pacific’s financial and capital markets through a daily website and weekly newsletter. At the end of 2005, ''FinanceAsia'' was acquired by Haymarket Group Haymarket Medi ...
'' named Ayala Corporation as the best-managed company in the Philippines in 2010 and 2015, as well as Best for Corporate Governance and Best for Corporate Social Responsibility.


Attached companies and investments


Real estate

* Alveo Land *
Ayala Land Ayala Land, Inc. (ALI) is a full line real estate firm based in the Philippines. It is a subsidiary of Ayala Corporation. It began as a division of Ayala Corporation until it was spun off and incorporated in 1988. It became publicly listed in ...
Inc. ** AyalaLand Logistics Holdings Corp. (ALLHC) **
Ayala Malls Ayala Malls is a retail subsidiary of real estate company Ayala Land, an affiliate of Ayala Corporation. Founded in 1988, Ayala Malls owns a chain of large shopping malls, all located in the Philippines. Ayala Malls is one of the largest shoppi ...
** Makati Development Corp. (MDC) * AG Holdings, Ltd. * Avida Land * Amaia Land * Bellavita * Portico Land Corp. - joint venture with
Mitsubishi Corporation is a Japanese general trading company ( ''sogo shosha'') and a core member of the Mitsubishi Group. For much of the post-war period, Mitsubishi Corporation has been the largest of the five great ''sogo shosha'' (Mitsubishi, Mitsui, Itochu, S ...
* Roxas Land Corp. - joint venture with
Bank of the Philippine Islands The Bank of the Philippine Islands ('';'' '','' commonly known as BPI; ) is a universal bank in the Philippines. It is the oldest bank in both the Philippines and Southeast Asia. It is the fourth largest bank in terms of assets, the second lar ...
and
Hongkong Land Hongkong Land (HKL) is a property investment, management and development group with commercial and residential property interests across Asia. It owns and manages some 850,000 sq. m. of office and retail property in Asia, principally in Hong K ...
* Regent Wise Investments Limited ** MCT Consortium Berhad (32.95% ownership, based in Malaysia) * Ortigas & Company Limited Partnership - Since November 2014, Ayala and
SM Prime Holdings SM Prime Holdings, Inc. (SMPH) is a Filipino integrated property developer and a public subsidiary of SM Investments Corporation. It was incorporated on January 6, 1994, to develop, conduct, operate, and maintain the SM commercial shopping ce ...
ended their dispute over the ownership of OCLP Holdings, the parent of Ortigas & Company. Ayala has recently sealed a deal with a group led by Ignacio Ortigas for the development of the Ortigas family's land bank area. * Trident Infrastructure and Development Corporation (TIDC) - Formerly known as "Team Trident" and "the super consortium", is a joint-venture between Aboitiz Equity Ventures, Inc. (AEV), Ayala Land Inc. (ALI),
Megaworld Corporation Megaworld Corporation () is a real-estate company in the Philippines. It is listed on the Philippine Stock Exchange Composite Index. The company develops large-scale, mixed-use, planned communities incorporating residential, commercial, educa ...
(MEG) and SM Prime Holdings, Inc. (SMPH). It is aimed to develop the Laguna Lakeshore Expressway and Dike Project (LLEDP). * Ayala-GT Capital - In May 2015, through Ayala's Alveo Land and GT Capital's Federal Land, the two corporations will develop a 45-hectare property in Biñan, Laguna, aimed towards mid-range and high-end markets.


Financial services

*
Bank of the Philippine Islands The Bank of the Philippine Islands ('';'' '','' commonly known as BPI; ) is a universal bank in the Philippines. It is the oldest bank in both the Philippines and Southeast Asia. It is the fourth largest bank in terms of assets, the second lar ...
(BPI) * Globe Fintech Innovations Inc., or Mynt (
GCash GCash is a Philippine mobile payments service owned by Globe Fintech Innovations, Inc. (doing business as Mynt), and operated by its wholly-owned subsidiary, G-Xchange, Inc. Mynt is a joint venture between Ant Group, an affiliate company of th ...
)


Telecommunications

*
Globe Telecom Globe Telecom, Inc., commonly shortened as Globe, is a major provider of telecommunications services in the Philippines. The company operates one of the largest mobile, fixed-line and broadband networks in the Philippines. As of November 2023, ...


Utilities

* Manila Water Company Inc. ''(only economic interests remain until 2029 - control handed over to Enrique K. Razon's)''


Power and transport

* Ayala Corporation Energy Holdings, Ltd. - is the power unit of Ayala Corporation, with investments in the development of conventional as well as solar, wind, and mini-hydro energy sources. * AC Infrastructure Holdings Corp. - pursues toll road, rail and airport projects under government's public-private partnership program. **
Light Rail Manila Corporation Light Rail Manila Corporation (LRMC) is a rail service company based in Pasay, Metro Manila, Philippines. It is a consortium of companies engaged in the operation and maintenance of the Manila Light Rail Transit System Line 1 (Line 1) since Septe ...
- a consortium between the Ayala Corporation,
Metro Pacific Investments Corporation Metro Pacific Investments Corporation (MPIC) is a Philippine unit investment holding company of First Pacific Company Limited through Metro Pacific Holdings, Inc. MPIC through its subsidiaries, provides water, sanitation, and sewerage servic ...
, and
Sumitomo Corporation is one of the largest worldwide '' sōgō shōsha'' general trading companies, and is a diversified corporation. The company was incorporated in 1919 and is a member company of the Sumitomo Group. It is listed on three Japanese stock exchange ...
for the Line 1 Common Station, Concession, and Bacoor Extension. ** AF Payments, Inc. (10%) - another consortium between the Ayala Corporation and
Metro Pacific Investments Corporation Metro Pacific Investments Corporation (MPIC) is a Philippine unit investment holding company of First Pacific Company Limited through Metro Pacific Holdings, Inc. MPIC through its subsidiaries, provides water, sanitation, and sewerage servic ...
regarding the unified Automated Fare Collection System ( Beep card) for Line 1-3, and eventually also for the PNR and other public transport. ** North Avenue Grand Central station - the Unified Grand Central Station, is an interchange station currently in development by its stakeholders Metro Pacific Corporation, SMC-MRT7 of San Miguel Corporation, SM Prime Holdings, and Ayala Corporation. ** Entrego (60%) - courier and express parcel management that serve Zalora Philippines.


Manufacturing and automotive

* AC Industrial Technology Holding, Inc. (AC Industrials) ** Integrated Micro-Electronics, Inc. (IMI) **
Honda commonly known as just Honda, is a Japanese multinational corporation, multinational Conglomerate (company), conglomerate automotive manufacturer headquartered in Minato, Tokyo, Japan. Founded in October 1946 by Soichiro Honda, Honda has bee ...
Cars Makati, Inc. and
Honda commonly known as just Honda, is a Japanese multinational corporation, multinational Conglomerate (company), conglomerate automotive manufacturer headquartered in Minato, Tokyo, Japan. Founded in October 1946 by Soichiro Honda, Honda has bee ...
Cars Cebu, Inc. - Established in October 1990, Ayala Automotive Holdings began with a 12.9% stake in the P1.1B investment for the local operations and production plant of Honda Cars Philippines. **
Isuzu , commonly known as Isuzu (, ), is a Japanese multinational automobile manufacturer headquartered in Yokohama, Kanagawa Prefecture. Its principal activity is the production, marketing and sale of Isuzu commercial vehicles and diesel engines ...
Automotive Dealership, Inc. ** Isuzu Philippines Corporation (IPC) (owns 15%) **
Volkswagen Volkswagen (VW; )English: , . is a German automotive industry, automobile manufacturer based in Wolfsburg, Lower Saxony, Germany. Established in 1937 by German Labour Front, The German Labour Front, it was revitalized into the global brand it ...
Philippines **
Maxus SAIC Maxus Automotive Co., Ltd. trading as Maxus (LDV in Australia and New Zealand) and sometimes known by the pinyin transcription of its Chinese name, Datong (大通) is a Chinese vehicle brand. Currently, it is a commercial and passenger ve ...
Philippines, Inc ** Kia Philippines, Inc **
BYD Auto BYD Auto Co., Ltd. ( zh, s=比亚迪汽车, p=Bǐyàdí Qìchē) is the Automotive industry, automotive subsidiary of BYD Company, a publicly listed Chinese multinational manufacturing company. It manufactures passenger battery electric vehicle ...
Philippines ** Adventure Cycle Philippines, Inc. ( KTM Philippines) ** ACI Solar Holdings North America *** Merlin Solar Technologies Inc. ** AC Industrials Singapore *** Misslbeck Technologies GmbH


Social infrastructure

* Ayala Healthcare Holdings, Inc. (AC Health) ** Healthway Medical Network - Hospitals and clinics network that includes the Healthway Multi-Specialty Clinics, QualiMed Group of Hospitals, FEU Nicanor Reyes Medical Foundation, and the Healthway Cancer Care Hospital ** Generika Drugstore ** I.E. Medica Inc. ** MedEthix Inc. *Ayala Education, Inc. (AEI) **
University of Nueva Caceres The University of Nueva Caceres ( and ), also referred to by its acronym UNC, is a private non-sectarian basic and higher education institution in Naga City, Bicol Region, Philippines. It is run by , Inc., a joint venture of Ayala Corporation a ...
- Ayala Education's flagship University ** Affordable Private Education Center, Inc. (APEC Schools) - a joint venture between the Ayala Corporation and Pearson PLC's Affordable Learning Fund (Pearson ALF). It promotes affordable but high-quality education. ** Professional Employment Program (PEP) ** National Teacher's College (33%)


Nonprofit organizations

* Ayala Foundation ** CENTEX ** Ayala Museum ** Philippine Development Foundation ** Ayala Technology Business Incubator ** Filipinas Heritage Library ** Ayala Social Initiatives


Business process outsourcing, Logistics and Digital businesses

* LiveIt Investments, Ltd. * Affinity Express * HRMall * Zalora Philippines


Divestments

* Grail Research * IQ BackOffice, Inc. * The Insular Life Assurance Co., Ltd. - Mutual company owned by policyholders since 1987. * Integreon * Philippine
FamilyMart is a Japanese convenience store franchise chain, and a subsidiary of Itochu, a Japanese trading company. It is Japan's second largest convenience store chain, behind Seven-Eleven Japan. There are now 24,574 stores worldwide in Malaysia, Taiwa ...
CVS, Inc. - Joint venture with Stores Specialists, Inc., Japan FamilyMart, and
Itochu Corporation is a Japanese corporation based in Umeda, Kita-ku, Osaka and Aoyama, Minato, Tokyo. It is one of the largest Japanese ''sogo shosha'' (general trading and investment companies) distinguished by the strength of its textile business and its suc ...
. ''(Acquired by Phoenix Petroleum Philippines, Inc. in 2018)'' *Pilipinas Makro Inc. (defunct) - initially a joint venture partnership among Ayala,
SM Investments Corporation SM Investments Corporation (SMIC), also known as SM Group, is a Filipino conglomerate with interests in various sectors, mostly in shopping mall development and management, retail, real estate development, banking, and tourism. Founded by He ...
(
SM Prime Holdings SM Prime Holdings, Inc. (SMPH) is a Filipino integrated property developer and a public subsidiary of SM Investments Corporation. It was incorporated on January 6, 1994, to develop, conduct, operate, and maintain the SM commercial shopping ce ...
), and the Netherlands' SHV Holdings NV formed to own and operate
Makro Makro is a Netherlands, Dutch international brand of warehouse clubs, also called Cash and carry (wholesale), cash and carry stores. Makro was founded by SHV Holdings, a Dutch conglomerate based in Utrecht in partnership with German company ...
branches in the Philippines. Ayala divested from the company in 2004. * Pure Foods Corporation ''(sold to
San Miguel Corporation San Miguel Corporation (), abbreviated as SMC, is a Philippine multinational conglomerate with headquarters in Mandaluyong, Metro Manila. The company is one of the largest and most diversified conglomerates in the Philippines. Originally fo ...
in 2001)'' *
Stream Global Services Stream Global Services (formerly known as Global BPO Services Corp.), was a BPO company acquired by Convergys through a definitive merger, together with more than 37,000 employees in 22 countries and 50 contact centers. The company's footprint in ...
''(sold to
Convergys Convergys Corporation was a corporation based in Cincinnati, Ohio, that sold customer management and information management products, primarily to large corporations. Customer management products included agent assisted, self-service and care soft ...
in 2014 for $820 million)'' *
Muntinlupa–Cavite Expressway The Muntinlupa–Cavite Expressway (MCX), signed as E2 of the Philippine expressway network, is a controlled-access toll expressway linking the southern province of Cavite to Muntinlupa in the Philippines. Opened to traffic on July 24, 2015, ...
- the , 4-lane expressway connecting Daang Hari and
South Luzon Expressway The South Luzon Expressway (SLEX), signed as E2 of the Philippine expressway network and R-3 of the Metro Manila arterial road network, is a controlled-access highway that connects Metro Manila to the provinces in the Calabarzon, Mimaropa a ...
in
Muntinlupa Muntinlupa (), officially the City of Muntinlupa (), is a Cities of the Philippines#Legal classification, highly urbanized city in the Metro Manila, National Capital Region of the Philippines. According to the 2020 census, it has a population o ...
. ''(Sold to Prime Asset Ventures Inc. of the
Villar Group Manuel "Manny" Bamba Villar Jr. (; born December 13, 1949) is a Filipino businessman and former politician. He previously served as senator from 2001 to 2013 and as the 20th President of the Senate of the Philippines from 2006 to 2008. Before ...
in August 2023)'' *
AirSWIFT AirSWIFT (formerly Island Transvoyager) is a boutique airline in the Philippines with a permit to operate domestic scheduled and non-scheduled air transportation services. It also served the aircraft transportation requirements of its affiliate ...
''(sold to
Cebu Pacific Cebu Air, Inc. (), operating as Cebu Pacific (stylized in lowercase), is a Philippine low-cost airline based in Pasay, Metro Manila. Founded in 1988, the airline was the first low-cost carrier in Asia and is also the largest airline in the Phi ...
in October 2024)'' * KonsultaMD - a joint venture with Globe's 917Ventures ''(sold to
Metro Pacific Investments Corporation Metro Pacific Investments Corporation (MPIC) is a Philippine unit investment holding company of First Pacific Company Limited through Metro Pacific Holdings, Inc. MPIC through its subsidiaries, provides water, sanitation, and sewerage servic ...
in February, 2025)''


Retirement of Jaime Zóbel de Ayala

In January 2006, the board of directors publicly announced the decision by Jaime Zóbel de Ayala to retire as chairman of the corporation by April 2006. The board also announced his appointment as chairman ''emeritus'' upon his retirement. His eldest son, Jaime Augusto Zóbel de Ayala, succeeded him as chairman and chief executive officer, while his younger son, Fernando Zóbel de Ayala, has assumed the position of president and chief operating officer. The Zóbel de Ayala family's holding company, Mermac, Inc., continues to hold the controlling stake (49%) in Ayala Corporation."Zobel retires as Ayala chairman," ''Manila Bulletin'', January 2006


References


External links


Ayala Corporation website

Ayala at 175 magazine


{{Authority control Conglomerate companies of the Philippines Financial services companies of the Philippines Holding companies of the Philippines Companies based in Makati Makati Central Business District Financial services companies established in 1834 Philippine companies established in 1834 1834 establishments in the Philippines Companies listed on the Philippine Stock Exchange Multinational companies headquartered in the Philippines Companies in the PSE Composite Index Family-owned companies of the Philippines