Ayala invests add’l P850M in electronics

Ayala Corp. is infusing another P850 million into its electronics subsidiary, Integrated Microelectronics Inc. (IMI).

IMI has sought pioneer status registration with the Board of Investments (BOI) for its new manufacturing project.

IMI is putting up a new plant to manufacture fiber optic transceiver modules. The new plant, which will start commercial operations in September this year will be located at the Laguna Technopark special economic zone.

The output of the new plant is earmarked for export to the US, specifically to Cielo Communications which is based in Colorado.

A fiber optic transceiver module is used to convert information coming in the form of light into the optical receiver pigtail which then becomes electrical information.

IMI’s new fiber optic transceiver module plant is expected to post sale of P1.439 billion and a net income of P44.182 million for the five-year period.

It also projects export sales of $27.374 million for the period.

IMI has an authorized capital stock of P1 billion of which P718 million is paid-up and subscribed.

IMI’s major shareholders are the Ayala Corp. and Resin Inc. as well as Japan Asia Investment Company, Yamaha Corp., and Mitsubishi Corp.

IMI has previously registered 24 other projects with the Philippine Economic Zone Authority (PEZA) and the defunct Economic Processing Zone Authority (EPZA).

It has other existing facilities at the Laguna Technopark, Severina Industrial Estate and the Laguna International Industrial Park special economic zone.