Aboitiz Group extends lifeline to its clients and customers to cope with COVID-19 impact
The Aboitiz Group provides a lifeline to its business units’ clients and customers to cope with the Covid-19 crisis as well as implement measures to ensure unimpeded delivery of service. This is a follow through to its call for public-private collaboration as a key to mitigate the impact of Coronavirus Disease 2019 (COVID-19) by keeping the economy moving.
“We in Aboitiz fully recognize the impact of the current situation on our clients and customers ー and we are doing our best to help them cope until things return to normal. We are with you as we beat the odds together during this challenging time,” said Sabin M. Aboitiz, Aboitiz Group President and Chief Executive Officer.
AboitizPower distribution units Visayan Electric, Davao Light, Cotabato Light, and Subic EnerZone are giving a 30-day payment extension for bills due on March 15 to April 14, 2020. Scheduled power interruptions will also be limited to customer requests and vital line maintenance.
To ensure the adequate and reliable supply and distribution of electricity, business continuity plans are already in place across AboitizPower’s power generation facilities and distribution utilities, all of which are fully operational. Its generation facilities continue to operate and are ready to provide enough power to the grid. Additionally, its distribution utilities can be reached 24/7 for queries and emergencies.
Banking and Financial Services
Union Bank of the Philippines (UnionBank) offered a 30-day extension with no late fees for credit cards, housing loans, auto loans, and quick loans to qualified customers and waived online Instapay transfer fees until April 14, 2020. The bank is also encouraging its customers to “go digital” and “bank from home,” which the bank’s infrastructure supports.
UnionBank’s subsidiary City Savings Bank (CitySavings) extended a 30-day loan payment moratorium for motorcycle loan borrowers in good standing. Effective March 23, 52 CitySavings branches will remain open in Visayas and Mindanao from 9 a.m. to 1 p.m. while 38 CitySavings branches will remain open in Luzon, also from 9 a.m. to 1 p.m.
AboitizLand is waiving one month rent to all the tenants of its malls in Luzon and Visayas and extended payment deadlines for bills issued during the previous month. This is to offer partner merchants financial relief during the community quarantine so they can, in turn, provide assistance to their employees.
The company said its malls such as The Outlets at Lipa strictly follows hygiene and social distancing protocols, conducting hourly sanitation and disinfection to protect shoppers at supermarkets, banks, and restaurants offering deliveries and take outs that remain open to serve the public.
For its residential business, AboitizLand provided equity payment extensions for accounts with due dates from March 16 to April 15, 2020. It also waived penalties and fees associated with transactions for this period. Meantime, the microstudio rental apartments operated by AboitizLand with Point Blue also reduced the required three-month minimum lease term for all units to one month lease. This is to offer safer alternative housing for people who suffer long work commutes, and help businesses such as business process outsourcing companies to continue their operations.
Pilmico Foods Corp. ensured continued operation and unhampered production in its flour, feeds, and farm facilities to contribute to food supply stability in areas affected by the quarantine. The food business is also leveraging its digital platforms to continue serving its partners and customers through online consultations for baking, livestock raising, nutrition, and others.
Lima Water Corporation in Batangas, a subsidiary of Aboitiz InfraCapital, ensured 24/7 available potable water and industrial wastewater treatment to industrial locators and commercial establishments of LiMA Park that are still operating.
Apo Agua Infrastructura, Aboitiz InfraCapital’s business unit behind the Davao City Bulk Water Supply Project, is working with its partners and stakeholders to ensure minimal disruption to the ongoing construction of its facility. The company said it is committed to full transparency on challenges posed by the COVID-19 crisis and continues to inspect active worksites around the city to adhere to precautionary measures taken by the local government unit.
Aboitiz earlier said one sure way to keep the economy stimulated to help in the country’s speedy recovery is through the immediate implementation of the government’s infrastructure program, especially projects of national significance.
“We in Aboitiz have always been ready to invest time and money to build the infrastructure we Filipinos deserve,” Aboitiz stressed.
In line with this belief, 13 project sites of the Aboitiz Group’s privately-held construction unit, Aboitiz Construction, Inc. (ACI) continue to operate while observing strict precautionary measures. ACI continues to work with partners to complete expansion efforts at Davao International Container Terminal. It has also deployed skeletal workforce in the Philippine Coastal Storage and Pipeline Corporation in Subic and the Technimont JGC Venture construction of its High-Density Polyethylene unit in Batangas.