Ayala to expand healthcare, logistics businesses

MANILA, Philippines — Ayala Corp., the country’s oldest conglomerate, is on the look out for new businesses and new ways of doing things as it embraces a “new normal” brought about by the coronavirus disease 2019 or COVID-19 pandemic.

Ayala Corp. chief finance officer Jose “TG” Limcaoco said the conglomerate would strengthen some of its existing businesses such as healthcare, logistics and fintech and review other areas such as automotive and manufacturing to see how it can enhance the value of these spaces.

The conglomerate is also looking to invest more in its digital initiatives.

“We’re putting some investments into hospitals already and we’re always on the lookout for a hospital,” Limcaoco said.

Logistics is another area that can be strengthened – from fulfillment logistics to the last mile, he said.

Ayala will also look into how it can enhance the value of its automotive and manufacturing business through AC Industrials.

“We’re too focused on automobile. We should also look at industrial or medical manufacturing?” Limcaoco said.

He said these are just some of the possibilities for the conglomerate as it prepares for a post-COVID-19 world.

During the company’s annual stockholders meeting last week, Ayala Corp. chairman Jaime Augusto Zobel de Ayala said the conglomerate is shifting to a proactive and solutions-oriented approach to transition the company to a new business environment amid the COVID-19 pandemic.

“There is no existing playbook for this kind of situation. However, we had reset our planning cycle into three short-term phases to address the current situation and how to move forward with our business in a post-COVID environment,” Zobel said.

Phase one of the transition will involve preparing for the re-entry of the workforce and to make sure they are well prepared and safe to go back to work, he said.

Phase two will involve ensuring business resiliency.

The third phase will involve transforming the business to adjust to a “new normal” in the third and fourth quarters.