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    MERALCO History

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    kinnetth Angelo
    Meralco was established in 1903 as Manila Electric Railroad and Light Company to provide electricity and electric rail transit in Manila. It operated the city's electric streetcar system for over 40 years until World War II destroyed the system. Meralco then focused on electricity and powered postwar rehabilitation. In 1961, Meralco was the first major American company in the Philippines to be acquired by Filipino investors led by Eugenio Lopez Sr. Meralco expanded power generation and distribution rapidly to meet growing demand. It became the first Philippine company to successfully issue bonds on Wall Street. By 1969, Meralco was the first billion-peso company in the country, achieving this without government guarantees.

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    MERALCO History

    Uploaded by

    kinnetth Angelo
    22 views4 pages
    Meralco was established in 1903 as Manila Electric Railroad and Light Company to provide electricity and electric rail transit in Manila. It operated the city's electric streetcar system for over 40 years until World War II destroyed the system. Meralco then focused on electricity and powered postwar rehabilitation. In 1961, Meralco was the first major American company in the Philippines to be acquired by Filipino investors led by Eugenio Lopez Sr. Meralco expanded power generation and distribution rapidly to meet growing demand. It became the first Philippine company to successfully issue bonds on Wall Street. By 1969, Meralco was the first billion-peso company in the country, achieving this without government guarantees.

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    meralco background history

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    Meralco was established in 1903 as Manila Electric Railroad and Light Company to provide electricity and electric rail transit in Manila. It operated the city's electric streetcar system for over 40 years until World War II destroyed the system. Meralco then focused on electricity and powered postwar rehabilitation. In 1961, Meralco was the first major American company in the Philippines to be acquired by Filipino investors led by Eugenio Lopez Sr. Meralco expanded power generation and distribution rapidly to meet growing demand. It became the first Philippine company to successfully issue bonds on Wall Street. By 1969, Meralco was the first billion-peso company in the country, achieving this without government guarantees.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    22 views4 pages

    MERALCO History

    Uploaded by

    kinnetth Angelo
    Meralco was established in 1903 as Manila Electric Railroad and Light Company to provide electricity and electric rail transit in Manila. It operated the city's electric streetcar system for over 40 years until World War II destroyed the system. Meralco then focused on electricity and powered postwar rehabilitation. In 1961, Meralco was the first major American company in the Philippines to be acquired by Filipino investors led by Eugenio Lopez Sr. Meralco expanded power generation and distribution rapidly to meet growing demand. It became the first Philippine company to successfully issue bonds on Wall Street. By 1969, Meralco was the first billion-peso company in the country, achieving this without government guarantees.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 4

    MERALCO

    History
     
    1903
    Established as Manila Electric Railroad and Light Company to provide electric light and power
    and an electric street railway system to Manila and its suburbs. The facilities that Meralco built
    to provide these two services represented for many years the largest single investment of
    American private capital and know-how in the whole of East Asia.

    For a little more than four decades, Meralco provided Manileños their first modern mass public
    transportation system with electric streetcars. These were supplemented by buses in the 20s. 
        

     
    1948
    World War II destroyed the railway system beyond rehabilitation. Meralco gave up its
    transportation business, instead focusing on providing electricity. The electric service powered
    much of the postwar rehabilitation and early industrialization of the young republic, which
    gained independence in 1946.
        

     
    1961
    MERALCO

    In a move considered daring at the time, a group of Filipino investors, led by the entrepreneur
    Eugenio Lopez Sr., bought Meralco from its American owners, the first major American
    enterprise to be 'Filipinized.' During the decade that followed, the new Filipino management
    built electric-generating and distributing facilities at an unprecedented pace to meet the
    burgeoning needs of its franchise area. This was made possible by earning the confidence of
    international credit institutions like the Ex-Im Bank of the United States, the Ex-Im Bank of
    Japan, the International Finance Corporation (IFC), Kreditanstalt fur Wiederaufbau (KFW), and
    other banks, insurance companies, and major American, German and Japanese suppliers.

    Meralco was the first Philippine company to issue mortgage trust indenture bonds successfully
    in the US financial market on Wall Street. Meanwhile, an enlightened human resource
    management regime ensured industrial peace and employee loyalty at home.
        

     
    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. Indeed, in the first half of the 1980s, Meralco's
    MERALCO

    franchise area tripled in area from 2,678 square kilometers to 9,337 square kilometers, mainly
    because provincial consumers preferred the rates and service of Meralco to every other
    alternative. 
        

     
    1980
    Meralco, upon the request of the government, organized, started up and operated the
    country's first elevated light rail transit (LRT) system in Manila between Baclaran and Caloocan.
    It was reminiscent of the prewar role of Meralco in the city's streetcar system. 

    At the end of the decade, Meralco turned over the efficiently functioning system to the
    government.
        

     
    1995
    More than ever, much of Meralco's management has been directed towards enabling the
    organization to react nimbly to the changing structures and environments in which it operates,
    despite its continuing status as one of the oldest and biggest Philippine companies. Drives have
    gone under different names and slogans, e.g, TQM, re-engineering, Meralco Transformation
    Program, etc., but they share certain common emphases: customer satisfaction, world-class
    efficiency and productivity, performance-driven rewards, good corporate citizenship,
    transparent good governance, and process, organizational and human resource development
    towards these values.

     
    MERALCO

     
    2009
    Major stock transactions took place and Meralco partnered with two other giant Philippine
    conglomerates, the PLDT and San Miguel groups. These synergistic partnerships not only led to
    increased business opportunities and cost reductions, but also to new, expanded and more
    affordable services.

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