2006 Annual Report - Lopez Holdings Corporation

the cover
Spectacular night time view of the Makati business center from across
the Manansala by award winning photojournalist Edwin Tuyay shows
Rockwell Center in the foreground. Rockwell is one of many forward
looking investments of Benpres Holdings Corporation in support of
the country’s development. The self-contained community that is
Rockwell Center has set the standards for urban redevelopment in
densely populated Metro Manila. Other Benpres investments in power,
toll roads, communications and other vital infrastructure help local
industry and improve our people’s quality of life. The turnaround of
the Philippine economy is also aptly reflected in the turnaround of
major Benpres investments, offering a bright hope for the future.
contents
2…………… At-a-glance
Messages
4…………… From the Chairman and Chief Executive Officer
8…………… From the President and Chief Operating Officer
0………..... Mission Statement
operations Review
power
2………… Power Generation
4………… Power Distribution
communications
6………… Media
8………… Cable
20………… Telecommunications
infrastructure
22………… Tollways
other investments
24………… Rockwell Land Corporation
26………… Professional Services, Inc. (The Medical City)
corporate social Responsibility
27………… ABS-CBN Foundation, Inc. and ABS-CBN Bayan Foundation
29………… Knowledge Channel Foundation, Inc.
3 ………… Lopez Group Foundation
corporate governance
32………… Adoption of Corporate Governance Manual
34………… Members of the Board and their respective committees and
identification of Independent Directors
Financial Review
37…………. Management Discussion and Analysis
42………… Statement of Management’s Responsibility
43………… Report of Independent Auditors
45………… Financial Statements
50……… Company Chart and Directory
A n n u a l R e p o r t 2 0 0 6