MERALCO
“ Now , the organisation is excitingly embracing digital transformation in ICT , looking to use operational technology to provide better customer experience through artificial intelligence and automation ”
MEL MIGRIÑO VP AND GROUP CISO , MERALCO
1961 – A group of Filipino investors – led by entrepreneur Eugenio Lopez Sr . – bought Meralco from its American owners , rendering it the first major American enterprise to be ' Filipinised '. This new Filipino management built electricity-generating and distributing facilities at an unprecedented pace to meet the growing needs of its franchise area .
It is also during this period that Meralco became the first Philippine company to issue mortgage trust indenture bonds successfully in the US financial market on Wall Street .
1969 – Meralco became the very first billion-peso company in the Philippines . This was all the more remarkable because much of it had been achieved without recourse to government guarantees .
1970 – The Philippine Government made it a state policy for the government to own all major generating facilities . Meralco sold its generating plants to the National Power Corporation , and electric distribution became its core business .
cybermagazine . com 95