Ayala Corporation

History

Ayala y Compañía was established in 1876 and traces its origins to Casa Róxas, a partnership established in 1834 between landowner and entrepreneur Domíngo Ureta Róxas and his employee Antonio de Ayala. Their enterprise began with the formation of a distillery which became known as the maker of Ginebra San Miguel. Initially named *Destileria y Licoreria de Ayala y Compañía *, it was known ultimately as the Ayala Distillery Company and was acquired by Carlos T. Palanca, Sr.-owned La Tondeña, Inc. in 1929.

In 1888, the company introduced the first tramcar service in the Philippines. The company participated in the construction of the Ayala Bridge over the Pasig River 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 McMicking - who was married to Mercedes Roxas Zobel-McMicking the company was also responsible for the urban development of Makati after World War II.

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 as its strategic partner in 1973 -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 for solar power and Sta. Clara Power for run-of-the-river 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 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 Inc.
  • AyalaLand Logistics Holdings Corp. (ALLHC)
  • Ayala Malls
  • Makati Development Corp. (MDC)
• AG Holdings, Ltd.
• Avida Land
• Amaia Land
• Bellavita
• Portico Land Corp. - joint venture with Mitsubishi Corporation
• Roxas Land Corp. - joint venture with Bank of the Philippine Islands and Hongkong Land
• 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 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 (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 (BPI)
• Globe Fintech Innovations Inc., or Mynt (GCash)

Telecommunications

• Globe Telecom

Utilities

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

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 - a consortium between the Ayala Corporation, Metro Pacific Investments Corporation, and Sumitomo Corporation 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 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){{cite book | author-link = Organisation for Economic Co-operation and Development
  • Integrated Micro-Electronics, Inc. (IMI)
  • Honda Cars Philippines, Inc. (discontinued, January 1, 2026)
  • Isuzu Automotive Dealership, Inc.
  • Isuzu Philippines Corporation (IPC) (owns 15%)
  • Volkswagen Philippines (discontinued, September 30, 2025)
  • Maxus Philippines, Inc (discontinued, August 2025)
  • Kia Philippines, Inc
  • BYD Auto Philippines
  • Adventure Cycle Philippines, Inc. (KTM Philippines)
  • ACI Solar Holdings North America
    • Merlin Solar Technologies Inc.
  • AC Industrials Singapore
    • Misslbeck Technologies GmbH

Social infrastructure

• AC Health | 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, Healthway Cancer Care Hospital, and Healthway Cebu Velez General Hospital
  • Generika Drugstore
  • I.E. Medica Inc.
  • MedEthix Inc.
• Ayala Education, Inc. (AEI)
  • University of Nueva Caceres - 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

• AC Logistics
  • Glacier Megafridge
• 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 CVS, Inc. - Joint venture with Stores Specialists, Inc., Japan FamilyMart, and Itochu Corporation. (Acquired by Phoenix Petroleum Philippines, Inc. in 2018)
• Pilipinas Makro Inc. (defunct) - initially a joint venture partnership among Ayala, SM Investments Corporation (SM Prime Holdings), and the Netherlands' SHV Holdings NV formed to own and operate Makro branches in the Philippines. Ayala divested from the company in 2004.
• Pure Foods Corporation (sold to San Miguel Corporation in 2001)
• Stream Global Services (sold to Convergys in 2014 for $820 million)
• Muntinlupa–Cavite Expressway - the 4 km, 4-lane expressway connecting Daang Hari and South Luzon Expressway in Muntinlupa. (Sold to Prime Asset Ventures Inc. of the Villar Group in August 2023)
• AirSWIFT (sold to Cebu Pacific in October 2024)
• KonsultaMD - a joint venture with Globe's 917Ventures (sold to Metro Pacific Investments Corporation in February, 2025)

Retirement of Jaime P. Zóbel de Ayala, I

In January 2006, the board of directors publicly announced the decision by Jaime P. Zóbel de Ayala, I 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 M. Zóbel de Ayala, II, succeeded him as chairman and chief executive officer, while his younger son, Fernando M. 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.

References

References

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