From an article entitled: Who Owns the Philippines?
GOLD STAR 5 April 2012;
IT used to be that Philippine business was dominated by the Sorianos, founder of San Miguel Corp., the Elizaldes, founder of Tanduay Distilleries, the Lopezes, founder of Meralco, the Madrigals, founder of Madrigal Shipping Lines and Hans Menzi, founder of Bulletin Today and the Ayalas, founder of Bank of the Philippine Islands.
Not anymore. These businesses are now peanuts compared to the mega millions of business empires of new taipans. Manny Pangilinan, head of Metro Pacific, a business that originated in Hongkong, has gobbled up chunks of shares of Meralco, owns Maynilad, TM/Sun Cellular/Talk N' Text/Smart combined, PLDT, South Luzon Expressway, Negros Navigation, Makati Medical Center and Philex Mining.
On the other hand, the group of John Gokongwei now owns Robinsons, Cebu Pacific Airlines Robinson's Land, Manila Peninsula Hotel and Universal Robina Corporation. Lucio Tan either owns or is a majority shareholder of PNB, Allied Bank, Fortune Tobacco, Philippine Airlines, University of the East, Asia Brewery and Tanduay Rhum.
George Ty has both Metrobank and Philippine Savings Bank and insurance firms. Andrew Tan possesses Megaworld, the builder of high class condominiums in Metro Manila. Tan Kiat Chong is founder and owner of Jollibee, bought both Manila Pancake House and Mang Inasal. The Aboitiz group controls Aboitiz Power and Union Bank. Andrew Gotianun founded East-West Bank and first class subdivisions in the whole Philippines. Manny Villar is owner of Camella Homes and Crown Asia. But the taipan of all taipans is Henry Sy, owner of SM Megamalls, SM Properties and BDO.
Of the old tycoons, Eugenio Lopez Sr., is now dead and his businesses have been divided among his grandchildren; the Elizaldes have sold their stake in Tanduay Rhum to Lucio Tan; Hans Menzi died without an heir and its now Emilio Yap who also owns Manila Hotel who is the new boss in Manila Bulletin; Madrigal is dead leaving his fortunes to his daughter Chito Madrigal Collantes and now embroiled in a case with claimant and former senator and presidential candidate Jamby Madrigal. However, the Ayalas continue to own and manage their business, even expanding to the high-end Ayala Land, which owns Ayala Alabang and high-end shopping malls such as Ayala Mall and Glorietta.
With all these mega businesses now in the hands of these new taipans, expect a clash of talent, clout and resources for a race on who will own which business. As a matter of fact, the bidding war for the skyway from Baclaran to Cavite has heated up between San Miguel Corporation and Manny Pangilinan; ditto with the SLEX and a host of other billions of business with these billionaires scampering to get the nod of administration on who will be the winning bidder.
These new mega millionaires are of a new breed. They are schooled in the intricacies of business either from London School of Economics or the Harvard Business School from our local Asian Institute of Management (AIM). Hence, they have studied the science of management and not the old type whose hands-on experience has been handed to them through their forefathers or that they learn their management styles by imitation, instinct, gut feel or plain oido. No wonder, the old-type of tycoons left their businesses in shambles with no clear cut policy of continuity. So when they died, their business died with them, like the Elizaldes whose business empires then consisted of Tanduay, rope manufacturing, YCO wax and YCO paint, Mosler safes and gun manufacturing.
Thus, we know that Henry Sy has trained his children to take over the business; Gokongwei has Lance Gokongwei and his daughter Robina Gokongwei; Lucio Tan trained his children to manage his business; Manny Pangilinan though single, has put in place a talented management team who can easily run his business once he is out. With all these billions in their hands, who says the Philippines is a poor country?
by
Cesar Gorillo
Fast
forward to April 30, 2012 and the present standoff at the Scarborough Shoals.
Assumptions:
1. The Scarborough Shoals
and the adjacent Recto Reef are owned by the Republic of the Philippines.
2. These taipans have corporate
linkages in China and in other countries and have powerful influence off-shore.
3. Philex Petroleum has
an option to develop the natural resources of Recto Reef.
4. Our regional peers
would be happy to share in the development of these shoals and would invest in
such private entities to be able to participate in the resources.
5. Freedom of navigation
in the West Philippine Sea and the Strait of Malacca is to the benefit of all
nations.
6. Oil is being consumed
at a fast clip and wells may dry up in 25 years. Natural gas is the next best bulk
energy source and is already being used.
7. Huge deposits of
natural gas, the less polluting fossil fuel, can be found in the West
Philippine Sea. Other huge deposits are suspected elsewhere.
By
back door negotiations, why can’t arrangements be made for some or all of these
taipans to operate and develop the natural resources of the Shoals. This may be the
win-win alternative.
