Episode 10: What Aboitiz in the Philippines? – A dialogue with Luis Miguel Aboitiz, Director of Aboitiz Power Corp (Stock Code: ABZPY)

 

Description:

This month we catch up with PBEC Board Member Luis Miguel Aboitiz who previously served as a Director of Unionbank and as Executive Vice President – Chief Strategy Officer of Aboitiz Group, before his retirement on April 30, 2020. He was also Executive Vice President and Chief Operating Officer – Corporate Business Group of AboitizPower from 2016 to 2018, and Senior Vice President-Power Marketing and Trading from 2009 to 2015. Miguel is currently a Director of Aboitiz Power Corporation, a Director of ACO, and a member of its Board Strategy and Succession and Compensation Committees. He serves as Chairman of Unionbank’s Technology Steering Committee and member of the Audit and Operations Risk Management Committees and also serves as a Director of DDLS Aboitiz Inc. and Trustee of Philippine Business for Social Progress. Miguel graduated from Santa Clara University, California, U.S.A. with a degree of Bachelor of Science in Computer Science and Engineering, and earned his Master’s degree in Business Administration from the University of California in Berkeley, U.S.A.

Areas we discuss:

• The recently completed Jera Co Inc acquisition of a 27% stake in Aboitiz Power at the end of 2021 marks a new phase in the Companies energy mix development to reach 50:50 Thermal to Renewables by 2030. Jera Co Inc is one of the largest importers of Liquid Natural Gas in APAC and Miguel shares what this link-up means for the group and the Philippines in realising their transformation moving ahead together with Japanese expertise onboard.

The increased energy capacity coming on-stream for industrial locators & further development seems to support many Japanese firms already in Philippine Economic zones and Industrial Parks. Miguel shares his perspective on attracting further DFI interest and in particular more Japanese firms to locate to the Philippines to serve ASEAN and perhaps the RCEP trade agreement.

We also talk about the state of the Philippines labour market, ongoing challenges that seem to be common issues facing employers and leaders in Asia but also the increasing trends in increased demand for outsourced resources in administration/accounting/customer service and marketing, coming to the Philippine call-center market sector and hybrid work from home remotely resources available in the Philippines.

The conversation shifts to tackling some of the inherent society issues such as new technological advancements, need for innovation and skills in digitalisation and IT support.

Miguel shares some of the recent trends & operational risks he has observed over the past year, and as the Philippine economy starts to reopen in this election year.

In Miguel’s role as director of DDLS a joint venture with Edventure Co & Aboitiz Impact Ventures, he shares what this partnership is doing and the demand they are witnessing as well their further strategic plans.

Towards the end of the interview Miguel shares some insights into his role at PBSP- Philippine Business for Social Progress and the great work they are achieving, where he is an active Trustee.

• Finally Miguel shares 2 predictions for our audience on the year ahead and in 2023.

 

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