Philippines

Business Asia, Sept 13, 1999

Lucio Tan
Executive Director, Dynamic Holdings; CEO
Philippines Airlines; Chairman, Asia Brewery
Age: 65
Education: Far Eastern University
Contact: 852-2881-5221

Tan, whose billion-dollar empire includes tobacco, alcohol and banking businesses, may grow even more powerful this year, with speculation that many of his companies will go public to take advantage of the Philippines' stock market rally. Tan, who serves as an unofficial economic adviser to President Estrada, is said to be enthusiastic about the proposal -- after all, public shares would raise money to help fund company projects and expansion plans. And the rumours come from a reliable source -- Tan's son, Lucio Jr. Tan is connected at the top levels of power.

Tony Tan Caktiong
CEO, Jollibee Foods
Age: 46
Contact: 632-634-1111

When Filipinos decide to have a fast-food meal, chances are most of them will stay away from the likes of McDonald's and turn to Tony Tan Caktiong's restaurants instead. Jollibee, started by Tan as an ice cream shop in 1975, commands 53 per cent of the fast-food market in the Philippines, and sales are steadily rising. And it's not just the Philippines turning to Jollibee -- as well as stores throughout Asia, the company also has plans to open a second US store later this year.

Henry Sy
Chairman, Shoemart Inc
Age: 74
Education: Far Eastern University
Contact: hss@bloomberg.net

The retailing king of the Philippines continues to march on as his gigantic mega-malls change the face of shopping in his adopted country. Born in China, the self-made billionaire opened the first Shoemart store in 1958 and has been instrumental in the group's diversification into the financial, real estate, tourism and entertainment industries.

Sy, who shows no sign of slowing down at 74, sees many opportunities in the aftermath of the crisis, saying that "if something comes in, I'm ready". Few business Leaders in the Asia-Pacific region enjoy the kind of respect that Sy commands.

Rafael Buenaventura
Governor, Central Bank
Age: 60
Education: New York University; Stern Business School
Contact: 63-2-69-3380

Buenaventura has big shoes to fill. The former Citibank executive was elevated to his position at the Central Bank in June after the retirement of former Governor Gabriel Singson, who is credited with pulling the Philippines' economy back on track after the economic crisis. But Buenaventura has the fight credentials -- and close links with former classmate Joseph Estrada -- to keep the nation's improving economy growing.

Jaime Augusto Zobel de Ayala
President, Ayala Corp
Age: 40
Education: MBA, Harvard University; Harvard College
Contact: 632-759-4567

One look at Ayala Corp's balance sheet over the past few years and you could be forgiven for thinking the economic crisis never happened at all. Ayala's growth of 13 per cent annually in revenues can be largely attributed to dynamic young president Jaime Augusto Zobel de Ayala II, widely known as JAZA, who moved quickly to shore up his company's assets and capitalise on its strengths.

JAZA is not content to sit still. He is on record as saying the company's new outlook will be "a little bit more aggressive". The Ayala name is synonymous with business success in the Philippines.

Roberto de Ocampo
Chairman, Thomson Ratings Philippines
Age: 53
Education: University of Michigan;
London School
of Economics

During his four-year stint as Philippine Finance Secretary, de Ocampo balanced the annual budget every time. He now has to apply that financial nous to the Philippines' second start-up credit ratings agency, and if his past achievements are anything to go by, he's bound to succeed. Known as "Tiger Bobby" for his upbeat views on Asia, de Ocampo has previously served as chairman of the Development Bank of the Philippines.

Eduardo Cojuangco
Chairman, San Miguel Group
Age: 64
Education: De La Salle University
Contact: 63-2-632-3099

Dubbed "Mr Pacman" in the 1980s for his tendency to gobble up every company in his path, Cojuangco was a close friend of former dictator Ferdinand Marcos, He went into exile in 1986 after Marcos was toppled, but was last year resurrected as the boss at San Miguel -- the giant brewer which makes four out of every five bottles of beer consumed in the Philippines. Cojuangco is also dose to President Estrada.

ON THE RISE: TERESITA SY COSON

President of Shoemart, and daughter of Henry Sy.
Born: 1950
Contact: 632-810-20-16

Teresita Sy Coson, much like her father Henry Sy, isn't sitting back and waiting for success to come to her.

Sy Coson, who took over the Shoemart chain in 1990 and oversaw its growth into a giant retailer, says plans are still in place to build the world's largest shopping mall in the Philippines, despite the lingering effects of the region's economic crisis.

The planned "Mall of Asia" will continue Shoemart's rapid rise, with Sy Coson firmly overseeing the company's course.

Don't forget

Jose A. Concepcion III, CEO of RFM Corp.

PHILIPPINES: AT A GLANCE

Capital:                         Manila
Surface area:                    300,000 sq km
Population:                      75.2 million (1998)
GDP:                             US$65.1bn (1998)
GDP per capita:                  US$900 (1998)
Exports of goods and services:   US$40.2bn
Imports of goods and services:   US$48.7bn