Erramon Aboitiz cited Asia Leader for 2010

CEBU, Philippines – Aboitiz Equity Ventures (AEV) President and CEO Erramon Aboitiz has been recognized as one of the Asia Leaders for 2010 by Platinum Circle, a private business group composed of global and Asia corporations.  Aboitiz is the Asia Leader representing the Philippines.

Platinum Circle Chairman Lionel Lee officially conferred the recognition on Aboitiz during the Asia Leadership Dialogues (ALD) held at the Crowne Regency Galleria Hotel on Tuesday (July 27).

Felicitas Agoncillo-Reyes, Asst. Secretary of the Board of Investments of the Dept of Trade and Industry, delivered a message of support in recognition of the relevance of this award.

Platinum Circle's member-corporations are those with annual revenues exceeding US$100 million, with representation at the most senior executive level. The ALD is a forum conducted in several major cities across Asia organized by the Platinum Circle to showcase individuals from the private and public sectors who are leadership role models in the region.

The theme for this year's ALD was "Leading Asia's Recovery". Chosen leaders addressed peers regarding their experiences and efforts in leading their organizations out of the economic downturn, as well as the challenges and opportunities presented by Asia's recovery.

In his keynote speech, Aboitiz talked about the history and growth of the Aboitiz Group, the lessons learned in its journey from being a highly diversified enterprise till the mid-1990s to its current strategy of focusing on its core businesses. He said the most significant expansion and acquisition efforts of the group have taken place in the last three years, an unmistakable show of bullishness on the economic prospects of the Philippines. Its biggest investments have been in the power business.

Aboitiz said that since 1996, AEV's revenues have grown from a little over P3 billion to P46 billion as of yearend 2009. Over the same period, net income likewise increased from P1 billion to over P8 billion. AEV's market capitalization has swelled from P15 billion in 1996 to today's P127 billion.

"The Aboitiz Group and the Philippines are looking forward to take active roles during this Asian Century and to help achieve a full recovery for the region," Aboitiz said, adding that he sees the Philippines playing an important role in this Asian century," Aboitiz said. /JMO (THE FREEMAN)