Zero tuition fees for local residents, subsidies and funds by the city government, and an official name in the Filipino language—to be known for even one of these traits makes any university unique. But to be known for all three as well as to be a pioneer in several fields is sure to make any university a household name. Pamantasan ng Lungsod ng Maynila is defined by all three traits and more.
Overall, we have made further inroads to become a uniquely diversified global conglomerate, a position we have deliberately carved out for ourselves less than a decade ago when we decided to pursue an aggressive expansion program.
AGI ended with a net income of P Attributable profit stood at P Our property arm, Megaworld Corporation, posted another stellar performance as net income reached P It attained its target of launching 20 real estate projects during the year and then exceeded expectations with reservation sales of P billion, a first in its year history.
Megaworld now has residential towers, 57 office buildings and 15 lifestyle malls all over the Philippines, and still has over 4, hectares in 30 cities for future development. Its rental income amounted to P Its world-class and high-tech office buildings are home to a number of multinationals belonging to the Fortune companies.
AGI continues to gain headway in the tourism industry as our hotel operations raked in P4. The Group currently has a total capacity of 3, San beda form keys spread over a diversified portfolio of renowned global hotel brands under Travellers International Hotel Group, Inc.
Travellers and our own prestigious hotel brands under Megaworld. Our target is to bring this number to 12, keys within the next three to five years.
In the near-term, the Group is set to expand its international hotel brands with the addition of the Hilton, Sheraton, Okura and Ritz-Carlton to complement our existing Marriott and Holiday Inn hotels. Savoy is a welcome addition to our existing hotel brands Richmonde and Belmont.
Our spirits business through Emperador Inc. WMG has been breaking new records in sales, making its mark as a significant growth driver of Group performance. This was led by its single malt whisky brands, The Dalmore and Jura, which have been enjoying brisk sales in Europe and Asia, mainly in China.
InWMG launched a new blended malt brand, Shackleton, which gained strong market response. It is scheduled for broader distribution in To further grow its dominance in the global brandy category, Emperador also acquired the Domecq brandies and wines during the year. Our leisure and entertainment business under Travellers saw Resorts World Manila RWM continue to set the benchmark for gaming thrills and excitement.
In the coming months, Travellers is set to unveil the Grand Wing, which we believe will raise the bar in the industry. This was attributed to the healthy 5. Its first undertaking is a 2-kilometer Skytrain monorail project that will link the MRT Guadalupe Station to our township in Uptown Bonifacio, thereby improving access to and in Fort Bonifacio.
The project is expected to be operational by The project is expected to bring the NAIA annual capacity to 47 million passengers by and then raise this further to 65 million by I once again rely on this dedication to galvanize our various subsidiaries in being more innovative in developing and implementing strategic initiatives in the pursuit of our business objectives for and beyond.
After its listing on the PSE inthe Company obtained approval from the Philippine SEC to broaden its primary business and become a holding company.
That same year, the Company began acquiring a diverse group of businesses, primarily in the real estate and food and beverage industries, as set out below: In Augustthe Company's wholly-owned subsidiary, AGB, acquired McKester Pik-Nik International Limited and took over the international trade and distribution business for several branded consumer products.
The Company subsequently entered into a joint development agreement with Megaworld in July to develop this property. In FebruaryAGI acquired EDI, a company that had previously acquired the brandy manufacturing assets and related brands of Consolidated Distillers, which is owned and controlled by the Tan Family.
Megaworld was listed on the PSE on June 15, In Februarythe Company was reorganized to consolidate various businesses controlled by Mr. Through continuing research and innovation, we will enhance the company's ability to gain customer satisfaction and goodwill and build on our market franchise.
As a world-class Filipino conglomerate, we will be an active partner in national economic development through the pursuit of excellence in our core businesses and investment in industries that offer more room for profitability and growth.
As a matter of policy, we will always adapt to the dynamics of the market. Through export development and competitive pricing, we will enhance our competitiveness in an ever-expanding marketplace. We will constantly strive to enhance shareholder value by making our products and services desirable, accessible and affordable to the target consumers in the Philippines and abroad.
Through a continuing reward program, out stockholders will be entitled to an immediate share in the company's gains in the form of stock or cash dividends.
Board of Directors Andrew L. He also holds positions in the following other listed companies:The San Beda College of Law admits only those applicants whose credentials and personal qualifications yield evidence that they can offer an excellent academic performance and profit from the intellectual, social and spiritual opportunities offered by .
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ROMAN PROUBASTA His paternal great-grandfather was Joaquim Renart. Renart studied at the la LLotja art school, was a painter, sculptor and decorator, President of l'Orfeó Català, President of the Cercle Artístic de Sant Lluc and founder of the Foment de les Arts Decoratives (FAD) in