Likewise on the basis of trust, Filipino and international partners-including Mitsubishi, Singapore Telecom, Development Bank of Singapore, and United Utilities have contributed additional capital, technologies and networks that allow Ayala to access new markets and introduce more products and services set to world-class standards.

After more than 50 years as primarily a real estate concern, Ayala Corporation entered the 21st century as an investment company with three core businesses-real estate, financial services, and telecommunications-performing leadership roles in these strategic industries while likewise engaging in other high-growth businesses.

In the ensuing years, Ayala's growth was marked with expansions and acquisitions.

In banking, Bank of the Philippine Islands in 2000 acquired Far East Bank and Trust Company-at the time one of the biggest and most respected commercial banks in the Philippines-and merged with Ayala Insurance Holdings Corporation to become the first bancassurance operation in the country. Also that year, BPI introduced its Internet bank, BPI Direct Savings Bank. Five years later, in 2005, BPI acquired and absorbed Prudential Bank, expanding its access to the middle-market banking segment.

In early 2000, Ayala started an overseas expansion drive. Its unit Ayala International gained new grounds with its businesses in Asia, particularly in Hong Kong, Singapore and Bangkok. Ayala International's property business has since extended to the United States.

In real estate in 2003, with the Campos group as partner, Ayala Land acquired controlling interest in Bonifacio Global City, which it has since developed into the Philippines' new prime business and residential district.

In the same year, Ayala Land launched the redevelopment of its Greenbelt commercial complex in Makati, beginning with two new malls that would be followed with two more, giving the Philippines its foremost upscale retail and entertainment center.

In 2005, Integrated Microelectronics, Inc. acquired Saturn Electronics Engineering of the United States and merged with Speedy-Tech Electronics of Singapore, becoming a global electronics manufacturing services provider.

Also that year came another milestone with the listing of Manila Water Company on the Philippine Stock Exchange. Manila Water would later become one of the Ayala group's five blue chips.

In 2007, Ayala Land formed a joint venture with the Yulo family for the development of an integrated, mixed-use community in Canlubang, Laguna, south of Manila.

In all its businesses, old and new, Ayala has maintained strong financials, remained prudent in finance management, kept debt low and liquidity high, and maintained a substantial cash position that allows it to seize valuable opportunities as they arise.

In the changing economic landscape, its ability to take and develop opportunities has allowed Ayala to make an ever-bigger contribution to Philippine development.