Aboitiz transitions to post-COVID-19 business environment

MANILA, Philippines — Aboitiz Group, the Cebu-based conglomerate, is transitioning into the new post-COVID business environment.

Group president and CEO Sabin Aboitiz said the way to thrive in a new business landscape is having a “renewed entrepreneurial mindset,” and embarking on continuous investment in the “hypergrowth” of its team members in an inclusive work environment.

“As leaders, we have a responsibility to our team members and the entire organization to transform the way we think in order to transform the company into a greater one,” Aboitiz said during the 2022 Aboitiz Leaders Conference (LeadCon) held last Feb. 10.

The Aboitiz Group, a 100-year-old conglomerate, has investments in power through AboitizPower, banking through Union Bank of the Philppines, infrastructure through Aboitiz InfraCapital, food through Pilmico and Gold Coin, property through AboitizLand, and construction through Aboitiz Construction.

For power, the group will continue to grow its renewable energy portfolio to 4,600 MW by 2030, aligning its energy transition with the Philippines’ economic recovery and growth aspirations.

AboitizPower will operationalize Aboitiz Renewable Inc. to accelerate its cleanergy portfolio, with over 600 MW of renewable energy projects to commence construction.

It will drive more to reach its 10-year pipeline projects for solar, wind, hydro, geothermal, and battery energy storage systems.

UnionBank posted another record year in the onboarding of new customers, accelerating the acquisition and adding 2.5 million to the bank’s customer base.

It also bagged the consumer banking business of American banking giant Citi in the Philippines, bringing with it a customer base of close to one million in the higher-end of the country’s consumer segment.

Its next big goal is to make its digital bank, UnionDigital, operational by mid-2022.

In infrastructure, Aboitiz InfraCapital follows up its solid 2021 performance with the expansion and operation of projects this year. The next phase of expansion for its economic estates in Lipa-Malvar, Batangas, and Balamban, Cebu is in the works, targeting to add 239 hectares of property.

Pilmico and Gold Coin aim to continue its expansion and acquisition of facilities not just in the Philippines but across the entire Asian region, spanning China, Indonesia, Malaysia, and Vietnam. With the goal of becoming a leading integrated agribusiness and food company, Pilmico will increase its presence in fast-growing market segments like aquaculture, pet food, and specialty nutrition, and grow its business-to-consumer brands such as The Good Meat, Maxime, Woofy, and Tommy, the company said.

For the property business, AboitizLand is looking at exponential transformation powered by its investments in technology, data science and artificial intelligence, as well as strategic partnerships with future-forward companies.

Aboitiz Construction implemented its “Big Shift” strategy last year which pushed them to adapt to the changing market dynamics, resulting in improved financial performance.