Unwavering NLEX Holds 2021 1st Quarter Performance Review
by Sam Escolano
Determined to move forward despite its challenging and changing business environment, NLEX held its 1st Quarter Performance Review on April 20, 2021 via Zoom.
MPTC President and CEO, Rodrigo E. Franco, opened the review by emphasizing MPTC’s drive for financial stability and sustainability, painless toll payment, and digital transformation. Careful selection of NLEX pipeline projects, the pursuit of MPTC mobile app and drive hub, and expansion of non-toll streams were discussed, among others.
NLEX CFO Ma. Theresa O. Wells, reported the results of NLEX Corporation’s operations for the 1st quarter of 2021. Revenues are at PhP580 million below target due to the lingering pandemic, and repeated toll violations done by some motorists. Despite this, NLEX Corporation managed to reduce the core income gap to PhP260 million below target only through tax cuts and savings. Ms. Wells also emphasized the need to recognize limited capital in undertaking expansion Projects.
MOVING FORWARD. The presentations, and even the hosts, painted a picture of how NLEX intends to adapt and move forward amidst uncertainty.
In response, NLEX Corporation’s division heads and managers presented their performance reviews and plans moving forward the company’s goals. Legal and Finance presented NLEX’s toll rate management plan, and Finance presented efforts to manage the company’s expenses. Operations and Technology gave updates on the take-up of cashless toll payment and its future set-up. Communication and Stakeholder Management presented its drive to strengthen NLEX’s customer value proposition and its “I Love NLEX” campaign. Asset Management Division discussed its efforts to maintain the quality of assets despite the limited budget. Tollway Development and Engineering presented ongoing project updates and pipeline projects recommended to be pursued.
In closing, Mr. Bautista reminded NLEX managers that stewardship encompasses service, and that given that the game is changing, NLEX is called to expand its gaze. He also stated that NLEX is being sifted and cannot get through these uncertain times the same – it could either regress or it could evolve. He exhorted the managers to strive to make sure that NLEX evolves into a better organization.
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