|
June 05, 2006
Ayala spins off call center business
(Manila Standard Via Thomson Dialog NewsEdge)Ayala Corp., the country's oldest conglomerate, has formed a wholly owned subsidiary that will take advantage of the rapid growth in the business process outsourcing business.
Ayala, in a disclosure to the stock exchange, said it filed with the Securities and Exchange Commission the articles of incorporation and by laws of LiveIT Solutions Inc., which will serve as vehicle in pursuing potential investments in the BPO sector. The new company has a capitalization of P500 million.
Documents obtained from the SEC show that LiveIT Solutions will "engage in the BPO business, including ownership, operation, management of data processing, fulfillment services, outsourced communication services, Internet and telephony communication services."
The P500 million capital of LiveIT Solutions is divided into five million shares with a par value of P100 per share.
At least 25 percent of LiveIT Solution's capital stock, or P125 million, has been subscribed by Ayala group with 25 percent paid in cash.
Ayala Land Inc., the real estate arm of Ayala Corp., earlier disclosed plans to spend P1.2 billion for BPO-related developments.
ALI plans to spend some P500 million this year to put up BPO campuses in Metro Manila. BPO campuses are small commercial areas that will house restaurants and theaters catering to call center and BPO agents, who have different lifestyle compared with ordinary workers.
ALI vice president and head of corporate business group and leisure and lifestyle group Ma. Victoria Anonuevo said the emergence of the new lifestyle of call center and BPO agents had created a need to develop infrastructure to address the new market.
ALI last year added over 36,000 square meters of BPO-dedicated leasable areas to its inventory with the completion of three build-to-suit buildings for specific clients in the Makati Central Business District and Sta. Rosa, Laguna. These are PeopleSupport Center, Convergys and InfonXX Building.
Meanwhile, construction started on a fourth building in the Bonifacio Global City in Taguig for Hongkong and Shanghai Banking Corp.
(source: http://www.tmcnet.com/usubmit/-ayala-spins-off-call-center-business-/2006/06/05/1669192.htm)
|
|
TMCnet LOGIN
Webinars
