Aboitiz Equity Ventures, Inc. (AEV) was originally incorporated on September 11, 1989 as Cebu Pan Asian Holdings, Inc. It changed its corporate name to the present one on December 29, 1993 and its ownership was opened to the general public through an initial public offering of its stocks on November 16, 1994. AEV is the public holding and management company of the Aboitiz Group. Its core businesses, conducted through various subsidiaries and affiliates, are grouped into five main categories, namely, power distribution and generation, financial services, food manufacturing, transport, and portfolio investments. The company's power generation and distribution business is conducted through its publicly-listed holding company, Aboitiz Power Corporation, while AEV's financial services group is composed of Union Bank of the Philippines and Cebu-based City Savings Bank. As for food manufacturing, the company relies on Pilmico Foods Corporation and its subsidiary, Pilmico Animal Nutrition Corporation. AEV's transport business is also comprised of two groups, namely, Aboitiz Transport System (ATSC) Corporation (ATS) and Accuria, Inc., a holding company for all transport-related businesses of AEV outside of ATS. Lastly, the company's portfolio investments include holdings in real estate through Cebu Praedia Development Corporation, and aviation through AEV Aviation, Inc. Source: SEC Form 17-A (2008)