Vivienne Tan appointed to MacroAsia board

MANILA, Philippines — Vivienne Tan, daughter of taipan Lucio Tan, has been appointed as director of MacroAsia Corp.

In a disclosure to the Philippine Stock Exchange, MacroAsia said Rex Vincent Young was also named director.

Completing the company’s board of directors are the tobacco and beer tycoon, Carmen Tan, Lucio Tan Jr., Michael Tan, Joseph Chua.

Johnip Cua, Ben Tiu, Marixi Prieto and Samuel Uy will serve as independent directors of the company.

“The individuals were pre-screened and determined to possess the qualifications required and none of the disqualifications provided for under the by-laws and the manual on corporate governance of the corporation to be elected members of the board of directors of the corporation at the annual stockholders’ meeting of the corporation to be held on July 19, “ MacroAsia said.

MacroAsia is Tan’s aviation support business.

The company expects 2019 to be a banner year after taking over Philippine Airlines’ billion peso worth of ground-handling and airline catering contracts from Cebuano tycoon Manny Osmena’s Sky Logistics and Sky Kitchen, respectively.

MacroAsia expects profits to rise by more than 20 percent this year with the addition of the new groundhandling and airline catering contracts from PAL.

It  recorded a three percent increase in its bottom line to P1.05 billion last year.  Elevated costs dampened revenue growth of its in-flight catering units.

Revenue grew 22.5 percent to P3.6 billion. Total direct costs jumped 29 percent to P2.77 billion.

At present, the company through its subsidiaries and associates, is engaged in aviation-support businesses at the Ninoy Aquino International Airport (NAIA), Manila Domestic Airport, Mactan-Cebu International Airport, Kalibo International Airport and the General Aviation Areas.

The company provides aircraft maintenance, repairs and overhaul services, in-flight catering services, airport ground handling services, charter flight services, and operates a special economic zone at NAIA.