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Table of Contents
Messages
2
25 Years of Helping People
Help Themselves
8
2013 Financial Highlights
14
Education
16
Enterprise Development
24
Environment
26
Employee-initiated Projects
28
Corporate Donations and
Other Initiatives
30
Board of Trustees
38
Executive Committee and
Corporate Staff
40
Aboitiz Group CSR Initiatives
42
Acknowledgment
48
Independent Auditor’s Report
49
Our Mission
Helping people help themselves
Our Vision
To be the neighbor of choice in areas where Aboitiz
companies operate
Aboitiz Foundation, Inc. is the corporate foundation of the
Aboitiz Group. Established in 1988, it addresses the social
and economic development needs of marginalized members
of society. It implements corporate social responsibility
interventions especially in areas where Aboitiz companies
are located.
The Foundation focuses on three program components,
namely education, enterprise development,
and environment.
Aligned with the Group’s purpose to create long-term value
for all its stakeholders, the Foundation continues to evolve,
creating more opportunities for beneficiaries, building
socially responsible partnerships to leverage on its resources
and efforts, and ultimately benefiting more people.
Our Artwork
Award-winning author-illustrator Jomike Tejido, using his
signature style of painting on Philippine hand-woven mats,
creates this artwork featuring images of book reading,
assembling multiple structures, and a growing sturdy tree.
These are subtle yet vibrant metaphors for the Aboitiz
Foundation’s three program components of education,
enterprise development, and environment. In time, what we
will see is a mighty tree bursting with fruit, growing upward
seemingly out of the canvass, as if to convey the theme for
this year’s annual report - Going Beyond CSR.
From Your Chairman and President
“We will strengthen our CSR effectiveness by pushing for
deeper engagement with our stakeholders.”
This culture of sharing and helping the less fortunate is
a legacy handed down by generations of Aboitizes, and
progressively strengthened over time.
The Foundation is today working towards the next level of
corporate social responsibility (CSR). This phase involves
programs with stronger stakeholder engagement and
positive sustainable impact of national scope that are
intertwined with our businesses.
As we fulfill our mission of helping people help themselves,
it is our desire to continue demonstrating viable long-term
solutions that can be replicated not only by us across the
Aboitiz Group, but by others as well.
Aboitiz Foundation, Inc.
Along with ensuring more transparency and safeguarding
the interests of all stakeholders, strengthening community
engagement through CSR is a key corporate governance
initiative of the Aboitiz Group. Together with our business
units, we aim to be the neighbor of choice wherever our
operations are located.
2
With the current business landscape demanding more of
a balance between business growth and society’s welfare,
we have weaved CSR into our business operations. This is
in line with our commitment to make Aboitiz a sustainable
enterprise that we can entrust to future generations. Our
sustainability mindset is that we can do well by doing good,
always making the right long-term decisions that balance
the interests of people, planet, and profit.
We have always recognized that to generate longterm value for our shareholders, we also need to deliver
value to all members of our society. To meet the higher
expectations of all our stakeholders, we have aligned the
major components of our CSR programs with the Group’s
corporate strategy.
We have identified three major areas where we will
be focusing our CSR efforts on: Education, Enterprise
Development, and Environment. We, however, will
continue to address the health care and childcare needs
of our host communities.
We will strengthen our CSR effectiveness by pushing for
deeper engagement with our stakeholders, identifying
what is truly important to them to ultimately be more
successful in meeting their expectations. We see a
greater need to collaborate more closely with the public
sector, continue to build organization capability, and
measure our CSR effectiveness accurately in order to
better address any gaps.
2013 Program Highlights
In 2013, we not only stayed on track in the
implementation of our CSR programs but also broke
records. The Foundation and our business units
disbursed a total of P483 million.
Believing that a better-educated youth means a
better Philippines, we continue to put education at
the forefront of our CSR initiatives. Almost half of the
Foundation’s annual budget is allocated for projects
that support the country’s public education system.
These include infrastructure building, asset donations,
scholarships, integrated computerization, and other
education-related projects.
Aside from our regular classroom donations, we build
Silid Pangarap classrooms in partnership with the Aklat,
Gabay, Aruga Tungo sa Pag-angat at Pag-asa (AGAPP)
Foundation.
Annual Report 2013
The Aboitiz Foundation, Inc. marked a major milestone
in 2013, celebrating 25 years of unwavering commitment
to serve, to share, and to empower individuals and
communities, increasing their chances for a better future.
3
“We will continue to develop projects
that are of national scale and have a
significant impact on society.”
The SSES will address the country’s need for a stronger science education
program, while the Tech-Voc schools will provide a learning alternative for our
country’s high school graduates who cannot afford a formal college education.
In the area of enterprise development, the Foundation, through the Aboitiz
Business Assistance and Guidance (ABAG) Program, helps organized groups or
cooperatives gain access to sustainable income-generating activities and job
opportunities. We provide microfinance packages for capital enhancement and
also conduct capability-building seminars and livelihood skills trainings.
In 2013, the Foundation obtained a technical training accreditation from the
Cooperative Development Authority, allowing us to conduct free training to
cooperatives. Training topics include Basic Cooperative Course, Cooperative
Management and Governance, and Financial Management, among many
others. This is our way of empowering and engaging our beneficiaries to be
more effective and efficient in their chosen responsibilities.
In the area of environment, we are rapidly gaining momentum in our
initiatives with the proactive response of Aboitiz team members. The
Foundation works together with the sustainability team of Aboitiz Equity
Ventures to ensure that the “planet” component of our vision of a triple
bottom line balance is properly addressed. We implement projects and
hold activities nationwide that promote environmental conservation and
biodiversity enhancement.
4
We are a year ahead of schedule in reaching our target of three million trees
by 2015, thanks to our Group-wide simultaneous tree planting actively
participated by thousands of our team members every year. The latest
program in our environment portfolio is the five-year development of an
eight-hectare biodiversity park in Davao City. To be called the Cleanergy Park,
it will give visitors an enjoyable learning experience about nature. It will also
show Davao residents that it is possible to have a pristine location within the
city, and we hope that they will try to replicate what we
have in the park in their own homes. We also wish for
LGUs to open similar parks in their respective localities.
The Cleanergy Park is Aboitiz’s way of influencing the
public about a sustainable lifestyle.
Our Cleanergy Museum in AboitizPower’s Makban
Geothermal Complex continues to educate visitors about
clean and renewable energy. Close to 3,000 students
from 30 different schools have visited the museum.
On Disaster Relief Preparedness
In times of calamities, the Aboitiz Group is always ready
to help and immediately dispatches relief assistance to
affected areas.
In November 2013, when super typhoon Yolanda
devastated the Visayas, the Aboitiz Foundation was
one of the first responders who quickly organized relief
operations. This was at a time when relief operations
were still ongoing for affected communities of the Bohol
earthquake that rocked the region a few weeks back.
Soon after Yolanda hit, the Foundation launched a
massive #BangonVisayas campaign to raise funds for
both relief and rehabilitation activities. The outpouring
of support has been heartwarming and we have so far
received P225 million from various donors within the
Aboitiz Group, across the country, and around the world.
Considered the flagship project of the Aboitiz Group’s
disaster preparedness initiatives is WeatherPhilippines
Foundation (WPF), one of our biggest CSR projects
to date. We are installing over a thousand automated
weather stations nationwide, especially those in remote
rural areas, to provide accurate localized weather
forecasts and help improve the country’s disaster
preparedness efforts.
Through the Foundation, we will continue to develop
projects similar to WPF that are of national scale and
have a significant impact on society.
In closing, we would like to thank our Board of Trustees
for their guidance and their trust; our donors for their
generosity of resources; and the entire Foundation team
for their selfless dedication and burning passion to serve.
We are grateful to our business units and their CSR teams
for their contribution and collaboration to ensure we
remain the neighbor of choice.
We thank our project partners in both the private
and public sectors for their partnership, and our team
members across the Group whose volunteerism and
growing participation in our CSR activities is certainly
heartwarming.
Together, we will pursue going beyond just CSR to make
positive and sustainable contributions to society in our
journey towards creating a better world for all of us.
What is truly inspiring for us and we take pride in is the
generous spirit of volunteerism shown by our team
members during the Foundation’s initiatives for the
Yolanda and Bohol calamities.
We are now in the second phase of our relief and
rehabilitation efforts that include the construction and
repair of hundreds of classrooms in Northern Cebu.
Erramon I. Aboitiz
Jon Ramon Aboitiz
Chairman
President
Annual Report 2013
In 2013, the Aboitiz Foundation took another big step to make education
more accessible by developing the Special Science Elementary Schools
(SSES) and Technical Vocational High Schools (Tech-Voc). This initiative is
being implemented in close coordination with Aboitiz business units, the
Department of Education, LGUs, and the Technical Education and Skills
Development Authority.
5
From Your Chief Operating Officer
“We are strengthening our position as a neighbor of choice
where Aboitiz companies operate.”
But sadly, it was also a year of major calamities, both natural
and man-made.
The Visayas was severely affected by a very strong
earthquake in October, followed by the strongest typhoon
to ever make landfall in the world a few weeks later. The
year also saw war escalating between government and
Muslim forces in Zamboanga.
But throughout these challenges, the Filipino spirit remained
resilient, putting above all else the desire to help their
fellowmen. The Foundation immediately raised funds
and mobilized Aboitiz Group team members and external
volunteers to help in relief operations.
In the past 25 years, the Foundation supported 23,243
scholars, turned over 648 classrooms, donated 1,634
computers, installed 525 thin client systems, gave 100 library
kits, and granted 422 microfinance loan packages worth
over P100 million.
We are pleased to note that Aboitiz Group business units
(BUs) are continuously picking up the pace in implementing
their own CSR projects. In 2013, out of the P483 million
combined total amount for CSR initiatives, P152 million came
from the BUs. In recent years, social development initiatives
by BUs have shown an increasing trend, totaling P115 million
in 2011, and P125 million in 2012.
6
We intensified our education-related initiatives in 2013,
appropriating P198 million or 41% of the Group’s total
approved budget to infrastructure building, rewiring
of classrooms, refurbishment of science and computer
laboratories, scholarship grants, donation of computers and
thin client systems, library kits and multimedia sets,
among others.
We turned over a total of 51 classrooms, 40 of which were
built in partnership with the Aklat, Gabay, Aruga Tungo sa
Pag-angat at Pag-asa (AGAPP) Foundation. We commit to
continue creating a conducive learning environment for our
students. We also rewired classrooms and continued
refurbishing science and computer laboratories, and
donating equipment.
The Foundation is already in the Post-Yolanda
rehabilitation and reconstruction phase, targeting to
repair some 130 classrooms and build 70 new ones in
Northern Cebu schools.
We supported 2,614 scholars across the country.
Our mission to bring more computerized facilities to
schools continued in 2013 as we donated 45 computers
and installed 259 thin client systems in various schools
nationwide.
The Foundation has been actively encouraging
community engagement, helping beneficiaries and
empowering them to have a better future. Over the
years, we have been assisting small enterprising
organizations nationwide earn additional income by
providing access to livelihood, job opportunities, and
capability-building through enterprise development or
the Aboitiz Business Assistance and Guidance (ABAG)
program.
The Foundation granted a total of 41 loan packages,
amounting to P18.4 million, to a number of cooperatives
across the country in 2013.
For our environment-related initiatives, the Group spent
P9 million, including the A-PARK program where we set a
target of three million trees by 2015. As of yearend 2013,
we have planted a total of 2.9 million trees.
About 2,000 of these trees were planted at the Aboitiz
Cleanergy Park in Davao City to jumpstart the five-year
development plan for a nature and biodiversity park there.
AboitizPower also opened the Cleanergy Center in its
Makban Geothermal Complex communicating its vision
to offer alternative energy solutions that have less
impact on Earth’s climate and its resources.
In 2013, when the calamities happened, the volunteerism
and compassion of Aboitiz team members became
even more evident. A total of 4,800 volunteers packed
52,000 relief bags and distributed around 50,315 packs
in Northern Cebu and Leyte, covering 106 barangays.
AboitizPower distribution units restored 1,042 electrical
posts in Northern Cebu and 167 in Leyte.
We continue to support the WeatherPhilippines
Foundation in its disaster risk reduction initiatives as it
made available for public use 402 automated weather
stations that provide critical localized weather data. It
is targeting to complete the installation of 750 weather
stations nationwide by the end of 2014.
The Foundation’s 25 years is teeming with success
stories that we can truly be proud of, but we need to
challenge ourselves to do more and do better to further
serve our communities. We could not have made all these
possible without the encouragement and support from
our Board of Trustees who tirelessly shares their time and
wisdom to guide us in our mission.
On behalf of the Foundation team and our beneficiaries,
I would like to extend our heartfelt gratitude to all our
project partners, external donors, Aboitiz Group donor
companies, Aboitiz team members, and all volunteers for
their partnership and generosity to share and serve.
Saving the best for last, I would like to commend my
team for giving their heart and soul to each and every
CSR project that we implement. There are no words to
describe their dedication. We will continue to keep our
passion burning for the next 25 years and beyond.
As we continue to nurture the growth of our CSR
activities, we will pursue seeking partnerships that will
create greater impact on a national scale and bring
longer term value to our stakeholders. This way, we can
affirm our position as the best neighbor of choice in the
areas where we operate as we further engage our host
communities and help them help themselves.
Augusto P.I. Carpio III
Executive Vice President
and Chief Operating Officer
Annual Report 2013
It was a special 2013 for the Aboitiz Foundation as we
celebrated 25 years of helping people help themselves and
strengthening our position as a neighbor of choice where
Aboitiz companies operate.
7
25 Years of Helping People Help Themselves
23,243
scholars
1,634
computers
648
classrooms
525
thin client systems
100
library kits
422
microfinance loan packages
worth over P100 million
13
cooperative
training centers
8
seedlings
402
The Aboitiz Science and Technology Education Center (STEC) Robotics Team represented the country at the World Robotics
Competition in Jakarta, Indonesia
automated weather
stations installed
Annual Report 2013
2.9M
9
1989
1992
1996
1997
1999
2000
2001
The Foundation
becomes a member
of the Association of
Foundations.
Aboitiz Group
Foundation, Inc. is
born.
The Foundation opens
a college scholarship
program in Davao City.
Scholarship programs
expand to the
secondary and
tertiary levels.
250 street children of
the Street Education
Program receive
support in partnership
with the Children of
Cebu Foundation, Inc.
Infrastructure building
projects start.
The integrated
computerization
program is launched.
Microfinance
programs are launched
and granted to
organized groups.
Aboitiz Football Cup
opens as the biggest
football event in the
Visayas.
10
The Foundation
becomes the first
foundation/NGO
outside Metro Manila
to be accredited by
the Philippine Council
for NGO Certification
and the Bureau of
Internal Revenue as
a donee-registered
institution.
The Foundation
becomes an active
member of the
League of Corporate
Foundations.
The Foundation
launches its first Basic
Computer Literacy
Training Course for
public secondary
school valedictorians.
The Foundation joins
Habitat for Humanity
in building low-cost
housing for homeless
families in Metro
Cebu.
Programs for sign
language training by
the Sign Language
Association of Cebu,
Inc. are launched.
2003
Environment is
added as one of
the Foundation’s
major program
components.
The Coalition for
Better Education
is established in
collaboration with
the Ramon Aboitiz
Foundation, Inc. and
Philippine Business for
Social Progress.
Skills training
scholarships are
granted to young
out-of-school women
at the Banilad Center
for Professional
Development.
Davao Police’s
operations are
computerized by the
Foundation, its biggest
project for the year as
spearheaded by Davao
Light and Power Co.
(Davao Light).
2002
The Outland
Adventure Camp
project of Davao Light
and the Foundation
offers experiential
learning for teachers,
students, and out-ofschool youth.
The Science
and Technology
Education Center
High School (STECHS) Scholarship
Program is
established,
benefitting the top
10 students of STEC
in Lapu-Lapu City
every year.
Annual Report 2013
1988
11
2005
2006
2007
2008
On its 20th
anniversary, the
Foundation is
renamed Aboitiz
Foundation, Inc.
A scholarship
for street urban
working children
in Lapu-Lapu City
and computer lab
refurbishment
projects are
established.
The Mabolo Police
and Fire Station
in Cebu City is
constructed in
partnership with
the Cebu Chamber
of Commerce and
Industry and the
city government.
2010
Vocational
and Technical
Training Centers
are established
as a partnership
between Metaphil
and TESDA.
A collaborative
project with AP
Renewables, Inc.
establishes the
Cleanergy Museum.
P15 million in
disaster relief
assistance for
those affected by
Typhoons Ondoy
and Pepeng is
released.
Disaster relief
assistance is
dispatched to
victims of the
St. Bernard,
Guinsaugon, Leyte
landslide.
The Foundation’s
participation in
DepEd's Adopt-ASchool Program is
formalized.
12
2009
Employee-initiated
Group-wide
projects Brigada
Eskwela, Tree
Planting, and the
Christmas Outreach
are launched.
Aboitiz Equity
Ventures, Inc.
launches five pillars
on Sustainability:
Rejuvenate
Nature, Renewable
Energy, Reduce,
Re-use/Recycle,
and Recharge
Communities.
Tsuneishi Heavy
Industries, Inc.
donates P270
million for the
construction of the
University of San
Jose-Recoletos
Campus in
Balamban.
The Foundation's
computer donations
are linked by the
thin client system.
Microfinance
portfolio expands to
Davao and Benguet
and funding
allocation increases
from P9 million to
P17 million.
2011
The partnership
with Aklat, Gabay,
Aruga tungo sa
Pag-angat at
Pag-asa (AGAPP)
Foundation is
formalized for the
construction of
67 kindergarten
buildings or 134
classrooms over
three years.
New partnerships
with Hapinoy
and Winrock
InternationalAmore3 (Alliance
for Mindanao and
Multi-Regional
Renewable/
Rural Energy
Development) are
established.
P11.4 million in
disaster relief
assistance for
those affected by
Typhoon Sendong
in Cagayan de Oro,
Iligan City, and
Negros Oriental is
released.
2012
WeatherPhilippines
Foundation is
established with
the Foundation’s
support.
2013
The Foundation
marks its 25th
anniversary with a
nationwide turnover
of 40 kindergarten
classrooms to the
AGAPP Foundation
with 40 more
pledged for 2014.
Pilmico, in
partnership with
the Foundation,
donates a P25million school
building in Brgy. Sta.
Elena, Iligan City.
The Group allocates
a record-setting
P531 million for CSR
projects nationwide.
The Aboitiz Group
plants a total of 2.7
million trees under
the Aboitiz Passion
for Agroforest and
Reforest to Keep
(A-PARK) Program.
P20.6 million in
relief goods are
dispatched to
50,217 families
affected by the
Negros Oriental
earthquake, the
massive Habagat
floodings across
Luzon, and Typhoon
Pablo in Compostela
Valley Province.
Humanitarian
relief missions are
dispatched for
those affected by
the Zamboanga
conflict, Zambales
and Negros
flooding, the
earthquake in
Bohol, and Typhoon
Yolanda in Cebu,
Samar, and Leyte.
The Foundation
raises P225 million
for Typhoon
Yolanda relief
and rehabilitation
efforts.
Annual Report 2013
2004
13
2013 Financial Highlights
• The Aboitiz Group allocated a total of P483 million for CSR projects.
• Corporate and other donations received majority of the allocation at P247 million
because of the various relief operations conducted during the year.
Aboitiz Group Initiatives*
Aboitiz Companies’ Direct CSR Interventions
Program Component (in Php thousands)
Education
Education
Education
165,264
50%
32,409
21%
Enterprise
Development
25,768
8%
Enterprise
Development
2,476
2%
Environment
Environment
1,558
0%
Environment
7,799
5%
Corporate and
other donations
Corporate and
other donations
137,850
42%
Corporate and
other donations
109,643
72%
Luzon
72,873
22%
Luzon
116,299
76%
Visayas
189,240
57%
Visayas
17,497
12%
Mindanao
68,327
21%
Mindanao
18,531
12%
197,673
41%
Enterprise
Development
28,244
6%
9,357
2%
247,493
51%
Luzon
189,172
39%
Visayas
206,737
43%
Mindanao
14
86,858
18%
Total of
Php483M
Total of
Php330M
Total of
Php152M
* Aboitiz Group Initiatives = Aboitiz Foundation, Inc. + Aboitiz Companies’ Direct CSR Interventions
Annual Report 2013
Area (in Php thousands)
15
Education
The Foundation donates a 3-storey, 3-classroom school building to Subangdaku
Technical-Vocational School
16
Infrastructure Building
To address the scarcity of classrooms in public schools, the Foundation builds
and donates classrooms to host communities, especially in far-flung areas
where any form of assistance is sparse. Having new classrooms encourage
children to attend school and improve their academic performance. It also
unburdens public school officials and teachers from the prevalent problem of
lack of classrooms, allowing them to address other gaps in the school system.
A firm believer that today’s
youth are tomorrow’s leaders,
it allocates the biggest chunk
of its annual budget for
education-related initiatives.
In 2013, P165 million or 50% of
the total budget was used to
fund infrastructure building,
scholarships and financial
assistance, integrated
computerization, and other
education-related projects.
Under its regular classroom donation, the Foundation
donated 11 classrooms in schools in Compostela Valley,
Cebu, and Davao Del Sur in 2013. Silid Pangarap classrooms
constructed in partnership with the Aklat, Gabay, Aruga
Tungo sa Pag-angat at Pag-asa Foundation (AGAPP)
during the year totalled 40, which was the number they
had committed to build together.
To date, a total of 648 classrooms, equipped with basic
fixtures including desks, blackboards, and toilets, have
already been donated by the Foundation, benefiting at
least 65,000 students.
Foundation President Jon Ramon Aboitiz chats with pre-school
students
Table 1. Classrooms
Project
Regular classrooms
Six-year old Aira Tarroza attends classes in a Silid Pangarap classroom
Classrooms
11
Silid Pangarap classrooms
40
TOTAL
51
Two science laboratories were refurbished while seven
schools received laboratory equipment, bringing to 29
the total number of laboratories refurbished since the
program started.
Annual Report 2013
Education remains to be the
Foundation’s primary focus
as it continues to implement
programs that help uplift the
country’s public education
system.
17
Integrated Computerization
In today’s digital age, students face a crucial need to learn how to
use computers properly. Computers serve as an effective learning
tool for both students and teachers as they gain access to more
information and explore more knowledge.
This is why the Foundation deems it important to provide public
schools with computers, refurbish computer laboratories, and
support Information Technology (IT) teachers so today’s children are
better prepared for the future.
In 2013, the Foundation and Aboitiz Group business units donated
a total of 45 computer units to various public schools nationwide.
Twelve IT teachers from various schools were also given stipends.
Scholars gather at the annual Interventions in Education event in Cebu
To date, the Foundation has donated a total of 1,634 computers.
Over the last three years, 36 IT teachers have also received
assistance
Scholarships and Financial Assistance
Providing access to quality education is one of the
most meaningful legacies that one can impart with
today’s youth. The Foundation grants scholarships
to qualified students from all levels, and also
recommends college level scholars to take up
courses that would give them better opportunities
to work with the Aboitiz Group after graduation.
Accountancy, Management, Psychology, and
Engineering are some of these courses.
Table 2. Scholarships and financial assistance
Level
Scholars
Pre-school
250
Elementary
148
Secondary
Tertiary
Post Graduate
Vocational/Technical
TOTAL
1,540
282
82
Donation of the thin client system to various public schools
continued in 2013, with the Foundation giving away 259 units to help
keep maintenance cost to a minimum by preventing virus attacks.
The system, which uses a centrally managed computer that limits
the capabilities of a network of small computers to only essential
applications, uses open source and license-free software. With the
system’s simplicity, it is easy to diagnose and repair problems.
312
An IT teacher instructs students of E.B. Lopez
National High School in Toril, Davao City how to
use the thin client system
Table 3. Computer donations
Location Units Donated
Luzon
9
Visayas
3
Mindanao
33
TOTAL
45
Table 4. Thin client system
Location Units Donated
Luzon
75
Visayas
17
Mindanao
167
TOTAL
259
2,614
In 2013, 2,614 students received scholarships and
various kinds of assistance from the Foundation.
Those who enrolled in vocational courses, and
street children were also given support.
18
This project is being implemented in partnership
with the Technical Education and Skills
Development Authority (TESDA) and private
institutions that offer skills training.
Former Foundation scholar Mark Amban of the indigenous
Bagobo Giangan tribe is now a public school teacher
Hedcor turns over brand new computers to Kiwas Elementary School in Benguet
Annual Report 2013
The Foundation granted scholarships to 312 outof-school youth for enrolment in vocational and
technical training centers. Upon completion of their
respective programs, scholars may be employed in
Aboitiz companies.
19
Other Education-Related Initiatives
UnionBank Book Donation
In 2013, UnionBank handed over its biggest
donation amounting to P4 million through the
UnionBank Learning System (UBLS): Developmental
Reading Integrated with Values Education for
Good Citizenship. This material is being adopted,
integrated, and used in the Department of
Education’s (DepEd) Grade 2 English Learner’s
Material and Teacher’s Guide, an official textbook in
the Philippine public school system.
UnionBank reinforced its partnership with DepEd
through a Memorandum of Agreement signed
in February 2013. It has committed to provide
12,500 copies of the UBLS material to all regional
directors and regional English supervisors, division
superintendents, and division English supervisors,
and every library hub in the country. The bank has
also provided 70,000 CDs containing the digital
version of the material.
As of 2013, the UBLS program has benefited 2.5
million grade 2 pupils, 70,000 teachers in 38,000
elementary schools; 17 regional directors, 17 regional
English supervisors, 210 division superintendents,
210 division English supervisors, and 238 library hubs
all over the country.
Brightest students from various public schools in Cebu participated in the 2nd ICT Quiz Show of the Foundation
ICT Quiz Show
Pilmico Brainshow
The Foundation conducted its 2nd Information and
Communication Technology (ICT) Quiz Show at the
Benedicto College Gymnasium in Mandaue City.
Representatives from 30 public high schools in Metro
Cebu participated in the contest. These schools are
beneficiaries of the Foundation’s various ICT-related
projects. Mandaue City Science High School emerged
as the grand champion.
In 2013, on its 9th year, the Pilmico Brainshow
(formerly called Capas Brainshow) sponsored
annually by Pilmico Animal Nutrition retained the
theme “Synergy for Academic Excellence.”
The event gathered the best and brightest students
from 26 public elementary schools in Capas,
Tarlac and 50 schools in Concepcion, Tarlac to
test their learning competencies and promote
competitiveness.
20
DepEd Secretary Armin Luistro awards a Certificate of Recognition to UnionBank for its outstanding support to uplifting the
country’s public education system
Elementary students in Tarlac showcase their learnings at the
annual Pilmico Brainshow
Annual Report 2013
Capas Gabaldon Elementary School in Capas and
Minane Elementary School in Concepcion emerged
as the overall winners.
21
Special Science Elementary Schools and
Technical-Vocational High Schools
Annual Report 2013
Aboitiz companies go beyond and design programs that have
a greater impact on the communities. Thus, the Foundation
intensified its education-related initiatives by taking on
a new direction: developing Special Science Elementary
Schools (SSES) and Technical-Vocational High Schools
(Tech-Voc) in its host communities in collaboration with the
DepEd and TESDA. The SSES aligns with the government’s
call for science-based skills specialization among young
students and is envisioned as venues where children with the
natural inclination toward the sciences will be able to enroll,
develop, and enhance competencies in English, Information
Technology, and Math. Meanwhile, Tech-Voc offers an
alternative solution to help about 80% of high school
students who don’t have the means to pursue a college
education. It will also aid the government’s K and 12 program
by teaching skills that are viable for employment or for parttime work to support further studies.
22
23
Paulino Enrique, a cut-flower farmer in the mountains of Benguet, is one of the
recipients of a microfinance loan package from the Foundation
Capability-Building Activities
In 2013, the Foundation approved 41 loan packages worth P18.4 million to 25
partner organizations Cebu, Davao and Benguet. These were for projects such
as water system expansion, buy-and-sell business, consumers’ store, swine
fattening, and farm productivity.
Table 7. Approved loan packages
Microfinance
Amount
(in Php thousands)
Visayas
23
15,993
Luzon
1
1,800
Mindanao
1
600
25
18,393
TOTAL
24
Organizations
Supported
Pursuant to the Standard Training Curricula for
Cooperatives, the Cooperative Development
Authority certified the Foundation as an accredited
training provider of 15 training programs.
Table 8. Capability-building activities
Activity
These include Basic Cooperative Course,
Cooperative Management and Governance,
Financial Management, Conflict Management,
Parliamentary Procedure, Leadership and Values Reorientation, Strategic Planning, Audit Management,
Records Management, Entrepreneurial and
Business Management, Basic Accounting for NonAccountants, Internal Control, Rules Formulation,
Cooperative Standards, and Policy Making to all
its assisted partner organizations under enterprise
development or Aboitiz Business Assistance and
Guidance (ABAG) program.
Isacar Arcilla takes on beekeeping as a livelihood with support from the Foundation
These habal-habal, tricycle, and pedicab drivers underwent an eightweek culinary training program that could augment their income and
develop their entrepreneurial skills
Livelihood Skills Training (bakery
business, food trade, cosmetology,
garments demonstration, etc.)
Participants
Amount
(in Php thousands)
94
928
Capability-building training (cooperative
management and governance, basic
accounting for non-accountants,
financial management, internal control,
basic cooperative course, leadership and
values re-orientation, etc.)
607
639
TOTAL
701
1,567
Annual Report 2013
With the belief of enabling
inclusive growth in
communities where Aboitiz
companies operate, the
Foundation continued to
provide programs that
jumpstarted incomegenerating activities for
beneficiaries.
Knowing how important it is to empower
communities, the Foundation supplemented its
microfinance initiatives with capability-building
and livelihood skills training on useful business and
vocational disciplines to organization members.
These courses are essential in guiding them to
manage their projects successfully. The Foundation
invested P1.57 million for the trainings.
25
Environment
Close to 3,000 Aboitiz team members from 24 business units participated in the 2013
Group-wide tree planting activity
26
The Aboitiz Group continuously built on the success of its established
sustainability programs such as the Group-wide tree planting and the yearly
observance of Earth Hour. About 192,000 trees were planted in 2013. To date,
the total number of trees planted is 2.94 million.
The Group has also launched a five-year project called Cleanergy Park,
envisioned to be an eight-hectare outdoor biodiversity classroom located
in Punta Dumalag, Matina, Davao City. The goal is to give the public the
opportunity to explore a different learning experience about nature.
In 2013, AboitizPower opened the Cleanergy Center, an educational facility
located at the MakBan Geothermal Power Plant complex in Brgy. Bitin, Bay,
Laguna. The center aims to promote the usage of clean and renewable energy
from sources that are sustainable and cleaner than fossil fuels.
The Group is close to achieving its 3 million trees target by 2015
Annual Report 2013
The Aboitiz Foundation upped
the ante in its environment
initiatives as it spent P1.6
million for various activities
to promote environmental
conservation and biodiversity
enhancement nationwide.
27
Employee-Initiated Projects
Children survivors of the super typhoon Yolanda in San Remigio, Cebu get Christmas
treats from Aboitiz team members
Brigada Eskwela
Tree Planting
With accelerated efforts from close to 3,000 team members from 24
business units who volunteered for the 2013 tree planting activity,
the Group was able to move closer to its target of three million trees
planted by 2015.
Areas covered in 2013 included Las Pinas-Paranaque Critical Habitat
and Eco-Tourism Area; Makban, Laguna; Tiwi, Albay; Guba, Cobcawa,
Cebu; Marilog District, Talomo; Marilog, Davao; Dimpatoy Watershed,
Cotabato; Ambuklao and Binga, Benguet; Magat Watershed, Ifugao;
Maco, Compostela Valley; Nasipit, Agusan Del Norte; Capas, Tarlac, and
Sta. Elena, Iligan.
Christmas Outreach
The Aboitiz Group holds annual Christmas outreach activities
organized by its team members. In 2013, team members from the
Aboitiz corporate headquarters in Taguig brought cheer to the children
survivors of super typhoon Yolanda temporarily housed at the Fabella
Center in Mandaluyong City. Cebu-based team members, meanwhile,
visited kids at the Punta Elementary School and Bancasan Elementary
School in San Remigio, Cebu. The children were entertained, fed, and
given Christmas gifts and relief packs.
28
Before the Christmas outreach, hundreds of team members donated
their time and resources to mount and participate in various fundraising activities for the event. Activities included a Trivia Game Night, a
Christmas Carol show, and a Buy-A-Bear, Heal a Child campaign.
In 2013, the organization served some 155 schools
throughout the country. The Foundation noted
an increase in the number of employee volunteers
from 1,372 in 2012 to 1,443 in 2013.
Adopt-a-School for Banilad Elementary
and Night High Schools
To help reduce the number of school dropouts and
out-of-school youth, the Aboitiz Group has pledged
to help educate public school children by spending
Saturday afternoons with them to conduct learning
sessions, including workshops on livelihood.
In 2013, team members conducted livelihood and
entrepreneurial skills projects for the mothers of
students of Banilad Elementary School and Banilad
Night High School students.
The Group’s Adopt-a-School program was first
implemented in 2009.
The Aboitiz Group serviced a total of 155 schools throughout the
country in 2013
Table 10. Employee-initiated projects
Activity
Volunteers
Adopt-a-School
139
Brigada Eskwela
1,443
Christmas Outreach
526
Disaster Relief
502
Health Missions
Tree Planting
Other Activities
TOTAL
251
2,575
829
6,265
Annual Report 2013
The Aboitiz Group conducts
various activities throughout
the year that encourage
active participation from its
team members. These annual
activities include simultaneous
tree planting, Christmas
outreach, disaster relief
operations, Brigada Eskwela,
and the Adopt-a-School
program.
To give learning a whole new appeal to students,
Aboitiz Group business units, through the Aboitiz
Foundation, have been actively participating in the
annual Brigada Eskwela of the DepEd since 2008.
Team members volunteer to repaint the school’s
exterior and interior walls, boards, and gates, clean
the premises, and do some minor repairs, among
others.
29
Corporate Donations and Other Initiatives
Aboitiz team members and other volunteers distribute relief goods to families affected by Typhoon Yolanda in Northern Cebu
Disaster Relief
Sadly, 2013 was a year of major calamities. The Visayas region was devastated
by one of the strongest earthquakes that ever hit the country and the
strongest typhoon to ever make landfall in the world. The year also saw the
war between government forces and Muslim extremists escalate to very
alarming heights in Zamboanga.
In the aftermath of these calamities, the Aboitiz Group exhibited all the more
how deeply rooted compassion is in the hearts of everyone in the organization.
The Foundation immediately launched the #BangonVisayas campaign, and has
so far raised P225 million for relief and rehabilitation operations in the areas
hardest hit by the typhoon, particularly Northern Cebu and the fourth district
of Leyte. A total of 4,800 volunteers packed 52,000 relief bags and distributed
around 50,315 packs in Northern Cebu and Leyte, covering 106 barangays.
Aboitiz team members also volunteered at the command centers.
AboitizPower distribution units restored 1,042 electrical
posts in Northern Cebu and 167 in Leyte. The group is
targeting to repair around 130 classrooms and construct
70 new ones for the post-Yolanda rehabilitation phase.
Of the amount raised, P61 million was spent for relief
operations and P140 million is being used for the
rehabilitation of schools in Northern Cebu. Donations
came from AboitizPower, SN Aboitiz Power, UnionBank,
Tsuneishi, Aboitiz team leaders and members, business
units that cancelled Christmas parties, Aboitiz family
members, and other private organizations and individuals
that donated via UShare.
During the year, the Foundation also marked a milestone
when it remotely managed the distribution of relief
goods to around 7,500 families in Zamboanga after
it was placed on red alert when insurgents took siege
of the city. The initiative was made possible with the
partnership of Ateneo de Zamboanga.
30
People from all walks of life volunteered at the Foundation’s command center at the
University of San Carlos in Cebu during the relief operations for Yolanda survivors
AboitizPower distribution units restored damaged electrical
posts in Northern Cebu and Leyte
Annual Report 2013
The Aboitiz Foundation and
its member companies grant
corporate donations and
other forms of assistance
to government and nongovernment organizations.
In 2013, a total of P94 million
went to corporate donations
and other initiatives.
31
Out-of-school children who joined the classes have now refrained from roaming around the streets
Residents avail of the free dental mission conducted by the Foundation
The Foundation and the business units conduct free health missions—
medical, dental and optical, surgical, and circumcision, with team members as
volunteers alongside the medical team. In 2013, P4.4 million was allocated for
health missions conducted across the country.
Dental mission
Medical mission
Beneficiaries
697
5,003
Circumcision
160
Optical mission
144
Surgical mission
145
TOTAL
6,149
Water Systems
32
Helping a community progress means being able to work
harmoniously with all its stakeholders, including local
government units (LGU) and various local agencies.
The children are provided with bags and school supplies
as part of their back-to-school experience.
Table 9. Health missions
Project
Support to LGUs
To encourage street children and out-of-school youth to
continue learning and go back to school, the Foundation
and its partners facilitate non-formal classes to about
250 kids annually.
The Foundation builds water systems in communities that do not have access
to these basic facilities. In 2013, residents of Sitio Mitondo in Toril, Davao City,
households of Brgy. Binugao in Inawayan, Daval Del Sur, and Tudaya National
High School in Sta. Cruz, Del Sur were beneficiaries of these water systems
making potable water available to them.
The Foundation supports LGU-initiated programs to
ensure their success. In 2013, it gave out P1.7 million for
the programs.
Through this activity, the Foundation expects that at
least 40% of the children will go back to receiving formal
education.
Support to Foundations, Promotion of
Arts & Culture
In 2013, the Foundation spent P4.3 million to support
other non-government organizations such as Caritas
Manila, Kabang Kalikasan, St. Francis Xavier Regional
Major Seminary of Mindanao, and the Emergency Rescue
Unit Foundation (ERUF).
AboitizPower donates equipment to barangay tanods in South
Cotabato
Annual Report 2013
Medical, Dental and Optical Missions
Street Education Classes
33
In 2013, the Foundation donated P1.6 million to help fund the event and other
sports initiatives.
Table 12. 2013 Direct CSR initiatives
Project
Groupwide
PBSP contributions
1,635
1,635
Table 11. Corporate donations
Purposive College Scholarship Program
3,088
3,088
MEMBER COMPANIES
AboitizPower Renewables, Inc. - Makban
Support to LGUs and groups
570
570
AboitizPower Renewables, Inc. - Tiwi
296
296
Cebu Private Power Corporation
School supplies donation
91
1,023
Health missions
76
Support to LGUs
17
Amount
(in Php thousands)
Various schools and football clubs participate
in the annual Aboitiz Football Cup
Disaster relief
Environment
75,367
548
4,367
Support to LGUs
1,687
Teacher’s training
638
Support to Foundations, Promotion of Arts & Culture
4,310
Disaster relief operations
356
1,633
Employee engagement activities
1,362
Others/various
3,292
City Savings Bank
Environment
Cotabato Light & Power Company
Direct CSR Initiatives
On top of existing initiatives planned for the entire year, the Foundation and
the business units implement social development projects, as needed, in the
communities where they operate. These projects are funded and implemented
by the business units with the goal of seeing more empowered communities
having a better quality of life.
The Foundation is affiliated with the following national organizations:
Philippine Council for NGO Certification (Chair), League of Corporate
Foundations (Immediate Past Chair) and Association of Foundations (Board
Member).
Armchair & desk donations
210
School supplies donation
Armchair donations
Health missions
Hedcor, Inc. - Benguet
Hedcor, Inc. - Davao & Sibulan
Pilmico Animal Nutrition Corporation
4,020
145
85
517
70
Environment
32
Brigada Eskwela
10
Other education-related initiatives
28
Water System
19
Health missions
4,941
41
Support to LGUs
1,921
269
1,595
480
Livelihood projects
7
Gift-giving activity
75
Water System
Luzon Hydro Corporation
4
31
Social infrastructure projects
480
44
Gift-giving activity
Assistance to communities
For 2013, a total of P152 million was allocated for various direct CSR projects.
Institutional Affiliations
222
Environment
1,563
21
Scholarship grants
94,530
The Group made its biggest single donation worth P107.5 million to
WeatherPhilippines Foundation (WPF) in 2012 for the installation of 1,000
automated weather stations nationwide. As of 2013, WPF has already installed
a total of 402 weather stations. Other details on the WPF initiatives are
available at www.weather.com.ph.
Medical, Dental and Optical Missions
WeatherPhilippines
34
813
2,512
East Asia Utilities Corporation
Engineers install an automated weather
station
26
Water Systems
TOTAL
Total
HOLDING COMPANY
Aboitiz Equity Ventures
The table below lists the corporate donations released by the Foundation in
2013.
Amount
(in Php thousands)
Company
829
267
Scholarship grants
60
70
Support to LGUs
47
Support to religious institutions
36
130
83
Annual Report 2013
As part of its commitment to promote football and encourage sportsmanship
among the youth, the Aboitiz Foundation and AboitizLand continue to support
the annual Aboitiz Football Cup in Cebu, now on its 16th year.
35
Company
Project
San Fernando Electric Light and Power
Company
Asset donations
Support to religious institutions
Support to other foundations and
groups
150
450
Livelihood projects
555
Primary health and child care projects
300
Support to LGUs
684
groups
900
100
400
Asset donations
316
Livelihood assistance/projects
1,600
Primary health and child care projects
8,267
Water System
301
Environment
955
10,000
23,279
4
Tsuneishi Heavy Industries (Cebu), Inc.
3,282
8
20
Alternative Learning System
153
Scholarship grants
536
40
10,648
GRAND TOTAL
43
3
112
3,547
405
1,261
1,752
17
Book Donation
4,000
7,438
51,347
25,700
13,150
Promotion of arts and culture
1,059
1,856
44
106
6,389
Environment
groups
Western Mindanao Power Corporation
83
Environment
Visayan Electric Company
314
109
48,674
1,016
300
Environment
Total
157
Disaster Relief Operations
Brigada Eskwela
Unionbank of the Philippines
Amount
(in Php thousands)
Health missions
3,100
2,422
455
Environment
111
Book donation
58
Asset donation
645
Skills development
199
Scholarship grants
936
201
Health missions
185
345
455
Support to LGUs
171
groups
75
3,270
152,327
Annual Report 2013
1,591
9,000
3,556
Environment
Subic EnerZone
5,861
Environment
Health missions
Water System
264
82
Assistance to educational program
Livelihood projects
67
Street Light
Scholarship grants
STEAG State Power, Inc.
Project
Teacher’s training
3,535
963
66
Support to LGUs
Southern Philippines Power Corporation
Company
1,845
Support to LGUs
SN Aboitiz Power - Magat, Inc.
248
Total
SN Aboitiz Power - Benguet, Inc.
Amount
(in Php thousands)
36
37
38
Erramon I. Aboitiz
Jon Ramon Aboitiz
Chairman
President
Romy S. Ronquillo
Stephen G. Paradies
Trustee
Trustee
Roberto E. Aboitiz
Susan V. Valdez
Xavier Jose M. Aboitiz
Jaime Jose Y. Aboitiz
Trustee
Trustee
Trustee
Trustee
Ma. Aurora F. Tolentino
Trustee
Annual Report 2013
Board of Trustees
39
Executive Committee and Corporate Staff
Jon Ramon Aboitiz
President
40
Danilo Cerence
Susan V. Valdez
Trustee
Jowelle Ann Cruz
Romy S. Ronquillo
Trustee
Rechiel Cordova
Louie Boy de Real
Xavier Jose M. Aboitiz
Trustee
Janice Teves
Rowena Astillo
Executive Vice President
and Chief Operating Officer
Jennelyn de la Cerna
Jun Ivan Covacha
Greggylou Estremos
41
Aboitiz Group CSR Initiatives
As of December 2013 (in Php thousands)
Allocation
ABOITIZ FOUNDATION, INC.
Education/Skills Training /Culture
Unrestricted Funds
42
Asset Donation - Audio-Visual Facility
Therma Marine, Inc. - Maco
Audio-video Cart Donation to Maco Heights Central
Elementary School
Asset Donation - Baking Lab Equipment
Pilmico Foods Corporation
Baking Lab Equipment Donation to Suarez National
High School
Asset Donation - Books and Supplies
Books and School Supplies Donation to various schools
Asset Donation - Thin Client System
Thin Client System Computer Donation to Polytechnic
University of the Philippines – Taguig
AP Trading and Marketing
Mangagoy South Elementary School
Manolo Fortich Central Elementary School
Barangay Bato Elementary School
La Paz National High School
AP Thin Clients Donation - Mindanao
AP Thin Clients Donation - Luzon
Thin Client Computer and LCD Donations to Mabuhay
Elementary School
AP Renewables, Inc. - Makban
Donation of computer laboratory “thin client” IT
network project
Balamban EnerZone Corporation
Thin Client Donation for the Alternative Learning
System Class
Davao Light & Power Company
Computer hardware/program donation to qualified
public schools
Thin Client System Donation to Kiwas Elementary
School
Hedcor, Inc. - Davao
Computer Donations - Thin Client System
Tisa Integrated School Computerization (Supplemental
Budget)
Asset Donation - Computer Units
City Savings Bank
Computer donations to different schools
Computer donations to different schools
Computer units replacement to 10-year old donated
computers
Asset Donation - Electrical Tools and Equipment
Donation of electrical shop tools and work equipment
Asset Donation - Facilities
Rehabilitation of facilities of Outland Adventure Camp
in Brgy. Langub, Davao City
50
300
140
400
109
113
118
125
960
980
154
821
267
937
105
274
96
292
652
497
183
259
Projects Undertaken
Asset Donation - Handwashing Stations
Handwashing stations to schools
Asset Donation - Others
City Savings Bank
Various asset donations to different schools
Asset Donation - Repairs and Rehabilitation
City Savings Bank
School Repairs of selected schools
Donation of construction materials for minor repairs
and construction
Asset Donation - Repairs and Maintenance - Computers
Computer repairs and maintenance 2013
Asset Donation - Science Equipment
AboitizLand, Inc.
Provision of science equipment to Don Calixto Yongco
Sr. Elementary School
Subic EnerZone Corporation
SEZ Science Equipment Donation 2013
Asset Donation - Science Lab Equipment
Science laboratory equipment donation to selected
schools
Mactan EnerZone Corporation
MEZ donation of science laboratory equipment to
Basak Elementary School
Therma Marine, Inc. - Nasipit
Donation of science laboratory equipment
Asset Donation - Tables and Chairs
APRI Makban Geo Cool Stools Project
AP Renewables, Inc. - Tiwi
APRI Tiwi Geo Cool Stools for Schools
Provision of desks and armchairs for schools within the
franchise area
Armchairs from used wooden crates project
Hedcor, Inc. - Sibulan
Donation of 150 pcs. of armchairs, 3 pcs. of teacher
tables and 3 pcs. of teacher chairs
MEZ donation of armchairs to Pajac Elementary School
Therma Mobile, Inc.
NBBN Elementary School and Tangos 1 Elementary
School Armchair Donation
SEZ Armchair Donation 2013
Armchair Donation for Greenhills Elementary School
Asset Donation - Tools and Equipment
Donation of Basic Electrical Tools & Equipment to Atty.
Orlando S. Rimando National High School
Asset Donation - Various Donations
City Savings Bank
Various asset donations to different schools
Asset donations to various public schools
Allocation
178
315
205
208
41
200
200
555
200
233
643
628
240
255
145
81
408
240
146
45
377
377
Projects Undertaken
Asset Donation - TechVoc Facility
Donation of vocational equipment such as welding and
speed sewing machines
Welding tools and equipment for Nasipit National
Vocational School
Employee-Initiated--Brigada Eskwela
AEV & APC Brigada Eskwela 2013
Brigada Eskwela
Brigada Eskwela sa Sta. Elena
Brigada Eskwela
City Savings Bank
Brigada Eskwela
Brigada Eskwela Part 2
Brigada Eskwela
Brigada Eskwela
Brigada Eskwela
Brigada Eskwela
Brigada Eskwela
Brigada Eskwela
Metaphil, Inc.
Brigada Eskwela
Brigada Eskwela
Brigada Eskwela
Brigada Eskwela
Brigada Eskwela
Abag sa Eskwela: Brigada Eskwela
Bayanihan Para sa Paaralan
Therma Mobile, Inc.
Brigada Eskwela
Brigada Eskwela
Tisa Integrated School (over the budget)
Employee-Initiated--HERO Project
AboitizLand, Inc.
4th HERO Project: Enhanced Learning Sessions for
Grade 6 Students
Employee-Initiated--Kiddie Chess
AboitizLand, Inc.
5th Kiddie Chess Clinic and Tournament
Employee-Initiated--Reading Enhancement
Summer reading enhancement classes to students of 6
public elementary schools
Allocation
164
356
100
170
100
100
4121
1179
50
300
34
50
50
28
100
200
100
110
100
159
207
97
70
96
129
251
238
Projects Undertaken
Infrastructure-Classroom Construction (AGAPP)
AGAPP 2013 - Construction costs and operating
expenses
Infrastructure-Classroom Construction (Regular)
Construction of 2 units 3-classroom and 4-classroom
school building in Compostela Valley
Supplemental budget request of 2 units 3 and
4-classroom school building in Compostela Valley
Therma South, Inc.
Construction of 1-storey, 2-classroom school building
in Inawayan National High School
Infrastructure-Museum
APRI Museum
Infrastructure-Refurbishment of Classrooms, MAPEH
Building, Computer & Science Lab
AboitizLand, Inc.
Renovation of science laboratory of Don Calixto
Yongco Sr. Elementary School
Computer laboratory refurbishment at Malagos
Elementary School
Refurbishment of 3-unit classrooms
Refurbishment of dilapidated MAPEH building of Alilem
National High School - Phase 2
SEZ science lab refurbishment 2013
Refurbishment of 1-classroom industrial laboratory at
Maco Heights Central Elementary School
Refurbishment of 2-classroom industrial laboratories
at Atty. Orlando S. Rimando National High School
Infrastructure-Repairs, Maintenance & Rehabilitation
City Savings Bank
Construction and repair of school perimeter
Painting of school buildings
Repair of school perimeter fence and multipurpose
stage
Classroom repairs and IT equipment donations to
Siaton National High School
Minor repairs of selected schools
Minor repairs of school parts, painting of school
building and construction of school perimeter fence
Replacement of damaged roof and repainting of LHC
donated school building
Infrastructure-Rewiring
Rewiring of school buildings
Upgrading of public schools’ electrical systems
Cotabato National High School Rewiring Project
Rewiring of school building
Rewiring of Babag II Elementary School
Upgrading of electrical system (rewiring project)
Upgrading of electrical system (rewiring project) of
Greenhills Elementary School
Allocation
26000
4734
965
1255
17000
175
100
877
207
262
134
551
343
150
105
219
297
422
50
150
250
450
120
240
5090
182
Annual Report 2013
Projects Undertaken
43
Infrastructure - Water System
Rehab of water supply pump of Kiwalan Elementary
School
Others
The Second Biennial ICT Quiz Show
Support to the 2013 Palarong Pambansa in Dumaguete
Aboitiz-STEC Robotics Team
Sponsorship to Aboitiz-STEC Robotics Team
Catalunan Pequeño NHS Internet Connection Project
Pilmico Brainshow 2013 (two events)
Internet connection to 5 schools
7th Inter-school computer competition
Kutitap supplemental school feeding
Scholarships and Financial Grants
Aboitiz Foundation Comprehensive Scholarship
Program 2013
Continuing of support for 10 full time IT teachers
Interventions in Education 2013
UP Law Scholarships
Donation to Ateneo de Manila University (fao Balik
Bigay Foundation)
APRI-Makban Geo Purposive College Scholarship
Program
APRI-Makban Scholarship Program for Secondary Level
APRI Tiwi Scholarship Program for College Level
APRI-Tiwi High School Scholarship Program
College scholarship program for Cotabato Light
customers’ dependents
Supplemental budget for scholarship program for
customers’ dependents
Educational assistance supporting valedictorian
students in their secondary levels
Educational assistance as support to the dependents
of the late Roberto Cabigas
DLPC-AFI College Scholarship Program for Customer
Dependents
DLPC Education Incentives Grant for Qualified
Customer Dependents in the secondary level
Subsidy for the education and board of 10 wards at the
Davao Boys’ Town
Allocation
40
216
100
178
506
45
409
210
70
3664
7675
2320
869
450
225
1970
415
1966
432
180
60
108
9
3504
807
150
44
College education subsidy for the indigenous youth in
Davao region
College Scholarship Program
High School Financial Assistance Program
Out-of-school youth techvoc training project
Hedcor Davao College Scholarship Program
College Scholarship Program
Out-of-school youth training project
LHC College Scholarship Program
Therma Luzon, Inc.
TLI College Scholarship 2013
High school financial assistance
Tagumpay sa Husay II
150
300
90
200
154
309
267
383
596
135
494
Projects Undertaken
Metaphil, Inc.
MTITT-Metaphil Tesda Institute for Technical Training
High School and College Scholarship Program
Financial assistance to nursery class
Assistance to nursery teachers
Pilmico Foods Corporation College Scholarship
Program
Assistance to 5 computer teachers
Therma Marine education incentives grant for
customer dependents in the secondary level
TMI M1 supplemental budget request for Maco HS
financial assistance project
High School Scholarship Program
Supplemental budget request for Grade 7 scholars
Scholarship Financial Assistance Program
Educational upliftment program-VECO customer
dependents in HS and college
Skills Training
Aboitiz Scholars Activities SY 2013-2014
2013 Kool Adventure Camp for Aboitiz scholars
APRI-Makban Geo skills training for marginalized youth
APRI-Tiwi skills training for marginalized youth of Tiwi
Upgrading elementary science teachers training skills
leading to a graduate course
Basic Computer Literacy for Grade 6 students
Training skills enhancement program
Special Science Elementary School - Infrastructure, Asset
Donation, Capability Building
Development of a Taguig Science Elementary School
Development of Sto. Tomas South Central School Special Science Elementary School Project
Development of Tiwi Central School - Special Science
Elementary School Project
Comprehensive support projects for the enhancement
of Sta. Ana Elementary School Special Science Classes
Technical Vocational High Schools - Infrastructure, Asset
Donation, Capability Building
Development of a Taguig National Technical
Vocational High School
Strengthening the high school vocational technology
of Tiwi Agro-industrial School - electrical installation
and maintenance technology course
Strengthening the high school vocational technology
of Tiwi Agro-industrial School - garments industrial
technology
Comprehensive support projects for the enhancement
of the Davao City National HS TechVoc Teaching
Facility and Learning Program
Allocation
1299
143
160
190
384
480
515
115
487
92
209
2745
172
86
1013
788
549
50
102
1220
6761
3911
2471
1460
1201
1571
3387
Projects Undertaken
Metaphil, Inc.
OJT Program for TechVoc
Development of Technical Vocational in Capas High
School
Construction of baking and cooking laboratory
building for Nasipit National Vocational School
Therma Mobile, Inc.
Development of Technical Vocational High School in
Navotas
Development of Gothong NHS into a Technical
Vocational High School
SUB-TOTAL -- UNRESTRICTED
Restricted Funds
Asset Donation - Armchairs
JJA Fund
Poo Elementary School in Olango Island
Caw-oy Elementary School in Olango Island
JRA Fund
Punta Elementary School in San Remigio, Cebu
Asset Donation - Lapel Mic
Trinity Fund
Donation of lapel microphones for Bancasan ES
teachers
Education-related Assistance
ARM Fund
Healing Servants Foundation
Infrastructure - Classroom Construction
JJA Fund
at Poo Elementary School in Olango Island
at Caw-oy Elementary School in Olango Island
JRA Fund
at Punta Elementary School, San Remigio
Infrastructure - Repair of classrooms, computer lab
ARM Fund
Mantalongon Elementary School in Sagbayan, Bohol
JJA Fund
Caw-oy Elementary School in Olango Island
Trinity Fund
Bancasan Elementary School in San Remigio, Cebu
Others
JRA Fund
Punta ES ICT Quiz Show
Contribution to Punta ES closing exercise
Trinity Fund
Bancasan ES ICT Quiz Show
Contribution to Bancasan ES closing exercise
Tent donation
Executives’ Fund
Scholarships (STEC)
EIA Fund
Scholarships
Iker Aboitiz Fund
Scholarships
JAEB Fund
Scholarships
JJA Fund
Scholarships
Allocation
208
609
1922
1812
1733
150,240
63
63
35
6
56
2594
4015
1633
82
506
950
9
5
9
4
43
228
48
249
89
2505
Projects Undertaken
JRA Fund
Scholarships
SGP Fund
Scholarships
Trinity Fund
Scholarships
Vidal Fund
Scholarships
Annabelle Aboitiz Fund
Scholarships
Cristina Juan Fund
Scholarships
Support to Teachers
JRA Fund
Stipend of teachers
Trinity Fund
Stipend of teachers
SUB-TOTAL -- RESTRICTED
Unrestricted Funds
Capability-building Training
Capability-building training programs for coop
partners (2013)
Seminar on accounting for non-accountants to
assisted cooperatives
Infrastructure
Repair and expansion of Cambinocot MPC
Livelihood Skills
Bangon Bohol
Livelihood Skills Development
APRI Makban Geo Sinag sa Kabukiran (Agriculture
Livelihood Project)
Water lily as a sustainable development project
Livelihood Skills Training
Bakery Business Strategy Training
Livelihood and Entrepreneurial Skills Project for night
high school students
Livelihood and entrepreneurial skills project for
mothers of elementary students in Banilad ES
Livelihood skills training to assisted organizations of
Aboitiz Foundation
Microfinance
Swine fattening projects of 3 organizations in our
focus areas
Consumer’s store of Bonbon MPC
Buy and sell project of AFILCA
Livelihood development projects of LLC Muslim
Ambulant Vendors MPC
Swine fattening project of Greenland Farmers’
Association
Farm productivity projects of Paril Farmer Scientist
Association and Cobcawa MPC
Livelihood development projects of 6 organizations
Livelihood development project of Rural Settlers MPC
Consumer’s store project of Tina-an Neighborhood
MPC
Allocation
35
61
270
110
686
171
263
236
15,024
590
49
1602
3429
380
28
40
543
234
112
4139
400
350
800
1115
1550
2200
300
100
Annual Report 2013
Projects Undertaken
45
Farm productivity project of Agsungot Farmer’s
Association
Farm productivity project of Payahan United Vegetable
Farmer’s Association
Water system rehabilitation and expansion project of
Access, Inc.
Livelihood development projects of 2 organizations
(Cebu Megamoms and BNS)
Livelihood development projects of LLC Muslim
Ambulant Vendors MPC
Promotion of safe and affordable electrical connection
in selected urban poor communities in Cebu City
Livelihood development project of Uling MPC
Davao Ecoland Small Entrepreneurs MPC Capital
Enhancement Project
Cutflower Production of Lamut MPC
Others
Market Day
Sponsorship to Micro Credit Summit Campaign
Restricted Funds
Capability-building Training
Trinity Fund
Capability-building trainings for Bancasan
Multipurpose Cooperative
46
Environment
Unrestricted Funds
Conservation, Research & Development
APRI Tiwi Bamboo Propagation along Taqui River Bank
Aboitiz Forest Initiatives - Davao Light and Power
Company
Solid waste management and composting project
Bird habitat restoration project
Coastal re-greening project - Brgy. Anislagan
Replanting and maintenance plan for Aboitiz Park
Project
Therma South, Inc.
Support to the ecological solid waste management
program of Brgy. Inawayan
Employee-Initiated
Tree planting/Earth Day Activity
Earth Day 2013
Environment Day 2013
Others
2nd Green Fashion Revolution
Allocation
100
50
500
789
1300
2000
300
600
1800
150
150
25,700
68
68
94
667
55
62
52
72
159
50
25
22
300
1,558
Projects Undertaken
Corporate and Other Donations
Unrestricted Funds
Affiliation and Information Dissemination
Sponsorship to PBSP’s 5th Olango Challenge
Sponsorship on the 12th Foundation Day of CBE
Asset Donation
Therma South, Inc.
Donation of one unit patrol boat to the task force
Davao
Disaster Relief
Davao Relief Operation
Relief operation to the fire victims in A. Lopez
Labangon, Cebu City
Relief operation in Laguna - APRI Tiwi
Relief operation in Taguig
Relief operation in Cordova - oil spill
Relief operation in Kawit, Cavite and Dagupan,
Pangasinan
Relief operation in Zamboanga
Relief operation in Subic
Relief operation in Bayawan
Relief operation in Bohol
Relief operation in Roxas
Relief Operation for the ST Yolanda Victims
AP Tabang Visayas Initiative - donation of disaster
response equipment
TMI Maco coastal barangay disaster risk and reduction
training
Employee-Initiated
AEV & APC Taguig Christmas outreach activity
AboitizLand, Inc.
Christmas gift-giving (Tawason and Canduman)
APRI-Makban Geo Christmas outreach activity
4th APRI-Tiwi Christmas outreach activity
Pilmico Christmas Outreach Program
SEZ Christmas outreach 2013
Therma Luzon, Inc.
TLI Christmas outreach program
Christmas Outreach 2013
Therma’s Pinaskuhan sa Kabataan
Therma Mobile, Inc.
Therma Mobile Christmas outreach activity
Therma South, Inc.
TSI Christmas Outreach 2013
Information Dissemination
Sponsorship to PBSP - 25th VAMM Celebration
Infrastructure
Construction of one (1) unit livelihood center building
for persons with disability
Allocation
100
20
660
525
35
285
1700
120
108
3000
1000
420
10820
295
46252
10751
55
72
269
185
259
92
42
24
100
83
91
146
15
876
Projects Undertaken
Others
25th anniversary celebration of Aboitiz Foundation
Donation to ERUF
Elektrisyan ng Bayan award
Various corporate donations and community goodwill
building
Primary Health and Child Care
Asset Donation
Therma South, Inc.
Support to the implementation of the barangay
management information system
Health Services
Medical, dental and optical mission
Medical and dental mission
Medical and dental mission
Vigan Medical mission
Alilem Medical mission
Therma Marine, Inc. Mobile 1 medical mission plus
Therma Marine, Inc. Mobile 2 medical mission
Comprehensive national medical missions with clients
of AP Sales
Infrastructure
Construction of potable water system to installation of
water system project at Sitio Mitondo
Health center refurbishment
Installation of water system in Tudaya National High
School
Therma South, Inc.
Binugao water system project
Street Education Class 2013
Skills Training
First aid training and emergency response
First aid and basic community disaster preparedness
training
Sponsorship
Sponsorship to LCF 2013 (Gold)
Sponsorship to PCNC General Assembly
Sports-related
16th Aboitiz Football Cup
Support to LGUs
AP Tanod Support Initiative (AP TSI)
AP Tanod Support Initiative (AP TSI) - Visayas
AP Tanod Support Initiative (AP TSI) - Mindanao
AP Peace and Order Brgy. Assistance Program
AP Peace and Order Brgy. Assistance Program
Allocation
490
100
164
318
Projects Undertaken
Support to NGOs and groups
Boy Scouts of the Philippines
Cebu Arts Foundation - Cebu Pop Festival 2013
Sponsorship to 41st General Assembly of Association
of Foundations
Donation to Caritas Manila
Kabang Kalikasan (Tubbataha Reef)
Sponsorship to Sinulog Foundation
Donation to St. Francis Xavier Regional Major Seminary
of Mindanao
Allocation
10
15
50
1000
1000
100
1500
94,530
104
650
419
226
150
182
110
107
2523
2394
246
68
50
295
94
45
Restricted Funds
Employee-Initiated
EIA Fund
Christmas outreach
ARM Fund
Disaster relief
TA Fund
Disaster relief
Hospitalization
Executives’ Fund
Hospitalization/Medication
Carcovich Fund
Hospitalization/Medication
Support to NGO/Religious Organizations
ARM Fund
Dilaab Foundation
Donation to Elsie Gaches Village
Sponsorship to PBSP 6th Olango Challenge
EIA Fund
Kythe, Inc.
Tapulanga Foundation
JJA Fund
Support to The Lord Who Cares Foundation
Various Donations
Carcovich Fund
God Our Father, the Father of All Mankind Church
Road concreting in Inabanga, Bohol
JRA Fund
Stipend-CO
Trinity Fund
Stipend-CO
Brgy. Bancasan covered court
Computer unit donated to Brgy. Bancasan
Rice subsidy of sanctuary guards in Brgy. Bancasan
20
3500
500
2099
789
900
1000
50
50
18
1200
21162
11109
14
33
774
30
72
43,320
300
100
TOTALS
UNRESTRICTED FUNDS
RESTRICTED FUNDS
Sub-total -- Aboitiz Foundation
Other Company Initiatives (see table 12)
272,028
58,412
330,440
152,327
1633
TOTAL CSR FOR THE ABOITIZ GROUP
482,767
488
391
551
211
46
Annual Report 2013
Projects Undertaken
47
Acknowledgment
Independent Auditor’s Report
INDEPENDENT AUDITOR’S REPORT
The Aboitiz Foundation, Inc. would like to acknowledge donors
and partners that have helped us achieve our vision to become
the neighbor of choice.
The Members and the Board of Trustees
(A Non-Stock, Non-Profit Organization)
Aboitiz Corporate Center
Gov. Manuel A. Cuenco Avenue
Cebu City
From the bottom of our hearts, thank you very much.
Report on the Financial Statements
We have audited the accompanying financial statements of ABOITIZ FOUNDATION, INC.,
which comprise the statements of financial position as at December 31, 2013 and 2012
(as restated), and the related statements of operations, statements of comprehensive
income, statements of changes in fund balance and statements of cash flows for the years
then ended, and notes, comprising a summary of significant accounting policies and other
explanatory information.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial
statements in accordance with Philippine Financial Reporting Standards and for such other
internal control as management determines is necessary to enable the preparation of
financial statements that are free from material misstatement, whether due to fraud or
error.
Auditor’s Responsibility
An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the financial statements. The procedures selected depend on the auditor’s
judgment, including the assessment of the risks of material misstatement of the financial
statements, whether due to fraud or error. In making those risk assessments, the auditor
considers internal control relevant to the entity’s preparation and fair presentation of the
financial statements in order to design audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on the effectiveness of
the entity’s internal control. An audit also includes evaluating the appropriateness of
accounting policies used and the reasonableness of accounting estimates made by
management, as well as evaluating the overall presentation of the financial statements.
Annual Report 2013
Our responsibility is to express an opinion on these financial statements based on our
audits. We conducted our audits in accordance with Philippine Standards on Auditing.
Those standards require that we comply with ethical requirements and plan and perform
the audit to obtain reasonable assurance about whether the financial statements are free
from material misstatement.
49
EXHIBIT "A"
We believe that the audit evidence we have obtained is sufficient and appropriate to
provide a basis for our audit opinion.
STATEMENTS OF FINANCIAL POSITION
December 31, 2013, December 31 and January 1, 2012
(Amounts Expressed in Whole Philippine Pesos)
Opinion
In our opinion, the financial statements present fairly, in all material respects, the financial
position of ABOITIZ FOUNDATION, INC. as at December 31, 2013 and 2012 (as restated), and
its financial performance and its cash flows for the years then ended in accordance with
Philippine Financial Reporting Standards.
Report on the Supplementary Information Required Under Revenue Regulation 15-2010
and Revenue Regulation 19-2011
Our audit was conducted for the purpose of forming an opinion on the basic financial
statements taken as a whole. The supplementary information in Note 24 to the financial
statements is presented for purposes of filing with the Bureau of Internal Revenue and is not
a required part of the basic financial statements. Such information is the responsibility of
management. The information has been subjected to the auditing procedures applied in our
audit of the basic financial statements. In our opinion, the information is fairly stated in all
material respects in relation to the basic financial statements taken as a whole.
Note
CARMENCITA Y. SANCHEZ-CAÑETE
Partner
CPA Certificate No. 8126
BOA/PRC Reg. No. 0127 (Until December 31, 2016)
SEC Accreditation No. 1030-A (In process of renewal)
BIR AN 13-003034-1-2012 (Until October 4, 2015)
TIN 104-639-075, PTR No. 402564 - January 2, 2014, Cebu City
As restated
(Note 3)
Jan. 01
2012
ASSETS
CURRENT ASSETS
Cash and cash equivalents
Receivables
4
5
P547,765,863
26,945,852
P192,264,055
69,753,590
P155,081,921
200,747,190
574,711,715
262,017,645
355,829,111
56,000,000
208,977,042
56,691,976
2,942,830
118,164,813
56,000,000
207,766,101
1,697,800
2,567,796
136,261,088
56,000,000
158,334,040
2,449,155
1,663,823
125,546,025
442,776,661
404,292,785
343,993,043
P1,017,488,376
P666,310,430
P699,822,154
P28,071,864
36,969
118,164,813
P40,877,377
42,290
136,261,088
P71,731,673
29,236
125,546,025
146,273,646
177,180,755
197,306,934
3,903,996
1,014,269
261,458
TOTAL LIABILITIES
150,177,642
178,195,024
197,568,392
FUND BALANCE (Exhibit "D")
867,310,734
488,115,406
502,253,762
P1,017,488,376
-
P666,310,430
-
P699,822,154
-
Total Current Assets
NON-CURRENT ASSETS
Held to maturity investments
Available for sale investments
Property and equipment - net
Other assets
Trust funds
6
7
8
9
10
Total Non-Current Assets
TOTAL ASSETS
LUIS CAÑETE & COMPANY
Dec. 31
2013
As restated
(Note 3)
Dec. 31
2012
LIABILITIES AND FUND BALANCE
CURRENT LIABILITIES
Accounts payable
Income tax payable
Deferred credits
11
17
12
Total Current Liabilities
NON-CURRENT LIABILITIES
Accrued retirement payable
TOTAL LIABILITIES AND FUND BALANCE
18
(See accompanying notes to financial statements)
Annual Report 2013
March 1, 2014
Cebu City
50
51
EXHIBIT "B"
STATEMENTS OF OPERATIONS
For the Years Ended December 31, 2013 and 2012
Revaluation Reserve on Fair
Value Changes of AFS
Investments (Note 7)
Note
SUPPORTS AND OTHER GAINS
Donations
Interest income
Dividend income
EXHIBIT "D"
STATEMENTS OF CHANGES IN FUND BALANCE
13
4, 5 and 6
7
2013
As restated
(Note 3)
2012
P722,921,819
9,831,487
8,495,163
P229,601,521
12,902,724
6,487,904
741,248,469
248,992,149
(289,953,057)
PROGRAM COSTS AND EXPENSES
14
(338,391,495)
OTHER INCOME
15
344,012
12,000
ADMINISTRATIVE EXPENSES
16
(22,251,508)
(21,482,523)
P380,949,478
(P62,431,431)
EXCESS OF SUPPORTS AND OTHER GAINS OVER EXPENSES
(EXCESS OF EXPENSES OVER SUPPORTS AND OTHER GAINS)
Balance, January 01, 2012
As previously reported
Effect of restatement (Note 3)
As restated
Total comprehensive loss for the year
Excess of expenses over supports and other gains
As restated
Other comprehensive income (loss)
Changes in fair value of AFS investments
Actuarial loss on accrued retirement payable
Cumulative Actuarial Loss
on Accrued Retirement
Payable (Note 18)
Cumulative Excess
of Supports and Other
Gains over Expenses
Total
Fund Balance
P135,193,402
-
(P2,403,381)
P369,083,708
380,033
P504,277,110
(2,023,348)
135,193,402
(2,403,381)
369,463,741
502,253,762
-
-
(62,649,347)
217,916
(62,649,347)
217,916
-
-
(62,431,431)
-
(62,431,431)
49,432,061
-
-
49,432,061
-
(1,138,986)
-
(1,138,986)
49,432,061
(1,138,986)
49,432,061
(1,138,986)
(62,431,431)
(14,138,356)
Balance, December 31, 2012
P184,625,463
(P3,542,367)
P307,032,310
P488,115,406
Balance, January 01, 2013
P184,625,463
(P3,542,367)
P307,032,310
P488,115,406
-
-
380,949,478
380,949,478
As restated
Total comprehensive loss for the year
-
48,293,075
Total comprehensive income (loss) for the year
Excess of supports and other gains over expenses
Other comprehensive income (loss)
Changes in fair value of AFS investments
1,210,942
-
(2,965,092)
-
1,210,942
(2,965,092)
Total comprehensive income (loss) for the year
1,210,942
(2,965,092)
380,949,478
379,195,328
P185,836,405
(P6,507,459)
P687,981,788
P867,310,734
-
Balance, December 31, 2013
EXHIBIT "C"
STATEMENTS OF COMPREHENSIVE INCOME
EXCESS OF SUPPORTS AND OTHER GAINS OVER EXPENSES
(EXCESS OF EXPENSES OVER SUPPORTS AND OTHER GAINS)
52
OTHER COMPREHENSIVE INCOME (LOSS)
Unrealized gain on fair value change of AFS investments during the year
TOTAL COMPREHENSIVE INCOME (LOSS) FOR THE YEAR
7
18
2013
P380,949,478
(P62,431,431)
1,210,942
(2,965,092)
P379,195,328
49,432,061
(1,138,986)
(P14,138,356)
Annual Report 2013
Note
As restated
(Note 3)
2012
53
EXHIBIT "E"
STATEMENTS OF CASH FLOWS
2013
CASH FLOWS FROM OPERATING ACTIVITIES
Excess of supports and revenues over expenses
(excess of expenses over supports and revenues)
Adjustments for:
Depreciation
Retirement benefits
MCIT written-off
Interest income
Dividend income
Gain on sale of equipment
Foreign exchange loss
Donation of equipment
1,061,092
301,825
69,566
(14,534,079)
(6,487,904)
1,427,544
Operating cash flow before working fund changes
Decrease (increase) in:
Accounts receivable
Loans receivable
Other assets
Decrease in accounts payable
362,731,289
(80,593,387)
40,529,152
2,278,586
(309,027)
(12,810,834)
133,684,291
(2,690,691)
(839,825)
(30,841,243)
Cash generated from operations
Contribution to retirement fund
Interest received
Income tax paid
392,419,166
(452,090)
10,817,125
(152,582)
18,719,145
(688,000)
14,534,079
(133,713)
Net cash provided by operating activities
402,631,619
32,431,511
(56,040,962)
380,000
8,495,163
(1,737,281)
6,487,904
(47,165,799)
4,750,623
-
-
355,465,820
37,182,134
35,988
-
192,264,055
155,081,921
P547,765,863
547,765,863
-
P192,264,055
P192,264,055
-
Net cash provided by (used in) investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
NET INCREASE IN CASH AND CASH EQUIVALENTS
EFFECT OF EXCHANGE RATE CHANGES ON CASH
CASH AND CASH EQUIVALENTS BALANCE AT BEGINNING OF YEAR
CASH AND CASH EQUIVALENTS BALANCE AT END OF YEAR
(P62,431,431)
1,046,786
376,724
86,577
(10,817,125)
(8,495,163)
(380,000)
(35,988)
-
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property and equipment
Proceeds from sale of equipment
Cash dividends received
54
P380,949,478
As restated
(Note 3)
2012
Head Office:
NAC Tower, 32nd Street
Bonifacio Global City, 1634 Taguig, Metro Manila, Philippines
t. (632) 886-2666
Cebu Office:
Aboitiz Corporate Center
Gov. Manuel A. Cuenco Avenue
Kasambagan, 6000 Cebu City, Philippines
t. (6332) 411-1800
f. (6332) 231-4037
Cover Concept: Aboitiz Foundation, Inc. and K2 Interactive Asia, Inc.
Design and Layout: K2 Interactive Asia, Inc.
Photography: Albert Labrador and Toto Labrador (Portraits)
The Aboitiz Foundation, Inc. 2013 Annual Report is printed
on 9 lives silk premium grade recycled paper, a unique
coated paper that is FSC-certified and made from 100% post
consumer waste, thereby reducing carbon footprint.

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