MANILA ELECTRIC COMPANY

MANILA ELECTRIC COMPANY

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Company Overview
Manila Electric Company, with registered office address in Pasig City, is a Philippine publicly quoted company engaged in the supply of electric services. It was founded in March 1903 when Charles M. Swift incorporated in the State of New Jersey a company which was soon named Manila Electric Railroad and Light Company.
The firm, through its subsidiaries, specializes in the generation and distribution electricity in more than 25 cities and 86 municipalities in Metro Manila, as well as in 6 provinces surrounding Metro Manila in the Philippines. It has established itself as the largest utility in the Philippines, providing power to more than 4.4 million customers in metropolitan Manila and other areas. Aside from its core business of electric distribution, Meralco also engage in industrial construction and engineering activities, supply of energy-related solutions, shareholder value creation, business process reengineering business, energy management, information technology consultancy, e-business, real estate development, customer focused training solutions, and corporate social responsibility. The company’s products and services are offered to residential, commercial and industrial customers. The company aims to be a world-class company and the service provider of choice by providing its customers the best value in energy, products and services.
Business Summary
The Company is the biggest of 146 electric distribution utilities in the Philippines.
Description and history
It was in 1903, in the early days of American colonization in the Philippines, that the Company was born. By providing the first and only mass transportation system in Manila for more than four decades and electric power for ten decades, the Company stirred the somnolent colonial outpost to a new life and became an indispensable support in the growth and development of the metropolis. A publicly owned corporation, the Company has 88,000 shareholders that come from a cross section of society, including the Company’s employees. This makes it the second most widely held company in the country. The 9,328 sq. km. franchise area comprises 15 cities and 96 municipalities, served by strategically located branch offices and distribution offices. The Company’s service area equivalent to only 3% of the country’s total land area, produces about 50 percent of the Philippines’ gross domestic product (GDP), 30 percent from Metro Manila alone and is 14 times the size of Singapore and Hongkong. The Company served 2.9 million customers in 1996, in a franchise inhabited by almost a quarter of the Philippine population of 70.8 million. Through strategic alliances and partnerships, the Company is into power generation, power plant rehabilitation, business process reengineering and information technology consulting, and real estate development.
The Company, the Philippines’ largest distributor of electricity, is also the oldest electric utility celebrating its 101st year of service in 2004.
In its centennial year in 2003, the Company sold 23.8 billion kilowatthours of electricity to a franchise covering 9,337 square kilometers, where around 20 million people or about a quarter of the total Philippine population reside. It served 4.1 million customers in 23 cities and 88 municipalities.
Business establishments in the franchise produced almost 50 percent of the country’s gross domestic product (GDP), with around 31 percent produced in Metro Manila alone.
The Company has 30 branch offices in the central, north and south areas of the franchise to attend to the needs of customers.
Aside from its core business of electric distribution, the Company through strategic alliances and partnerships, is involved in industrial construction and engineering; business process reengineering, power generation, information technology consultancy, e-business, energy related solutions, real estate development, energy management, customer focused training solutions, shareholder value creation and corporate social responsibility.

Founded when Charles M. Swift incorporated in the State of New Jersey a company which was soon named Manila Electric Railroad and Light Company

Business Line
Generation and distribution electricity in more than 25 cities and 86 municipalities in Metro Manila, as well as in 6 provinces surrounding Metro Manila in the Philippines
Subsidiary
CLARK ELECTRICAL DISTRIBUTION CORPORATION
Advisor
SYCIP GORRES VELAYO & CO
IPO date
1/8/1992
US SIC Code
4911
Company Address
Ortigas Avenue
Lopez Buildings
City province or state postal code
1600, PASIG CITY
Phone: +63 1622 3186
Fax: +63 1631 5572
Country address: PHILIPPINES
Website url: www.meralco.com.ph