CHI President Aniceto Bisnar, Jr.: Maximize growth prospects by embracing new strategies

CEBU, Philippines —  Cebu Holdings Inc., (CHI), the developer of Ayala Center Cebu and AyalaMalls Central Bloc, has committed to expand its services and quickly adapt to the new normal in a shared fight to arrest the spread of coronavirus in Cebu.

“The primary focus today is to actively participate in halting the spread of the virus, and to serve the essential needs of the community. We are also adapting to new strategies, which will allow the company to maximize growth opportunities once the situation stabilizes,” said CHI president Aniceto V. Bisnar, Jr.

According to Bisnar, a pandemic in such a scale as this is difficult to foresee or plan for. However, the company is confident that its system is in place to quickly respond to changes.

Significantly, the company’s strong financial fundamentals is seen to sustain the business through this extended disruption.

“We can only win the war with this invisible adversary if we all cooperate and help one another,” he noted.

CHI announced an all-time high performance for 2019, which logged P4.8 billion revenue, 29 percent higher than the previous year.

More than half of revenues came from its leasing portfolio composed of malls and office buildings.

CHI, an Ayala Land subsidiary, is the developer of Cebu Business Park and Cebu IT Park. Its projects include Ayala Center Cebu and the newly-opened AyalaMalls Central Bloc, as well as the eBloc Towers which house major BPO and IT investors in Cebu.

  Net income by yearend 2019 nearly doubled at 93 percent from P857 million in 2018 and breached the billion-peso level for the first time at P1.7 billion.

In 2019, CHI spent P1.62 billion on capital expenditures to develop new projects and enhance activities of its existing projects.