PHIL STOCKS HIT 11TH RECORD HIGH, AND WHY NATY CHENG OF URATEX WAS TOUCHED
Congratulations to Phoenix Petroleum’s 43-year-old billionaire founder Dennis Uy on his wise and strategic move of buying the Family Mart convenience store chain from Ayala Group and the Tantoco family, because this business can complement his nationwide network of gas stations. Both Phoenix Petroleum and Family Mart operate 24 hours daily. What are the sources of this young tycoon’s wealth? Dennis Uy controls three publicly listed firms: Phoenix Petroleum, which was listed in 2007; Uy bought a big stake in already-listed shipping firm 2GO Group Inc. in April 2017; and in August this year, he publicly listed the diversified shipping and cargo firm Chelsea Logistics.
The rising star in Philippine business, Uy has been a personal friend of President Rody Duterte ever since his years as Davao City mayor.
CREATE AND MAINTAIN A GOOD BRAND NAME
Congratulations to Natividad “Naty” Cheng of Uratex foams and mattresses, the grand winner of the prestigious 2017 “Entrepreneur of the Year Award” by Ernst & Young and SGV Group, and she will represent the Philippines in June 2018 in the “World Entrepreneur of the Year” competition to be held in Monte Carlo, Monaco.
Naty is cofounder, chairman and CEO of Multiflex RNC Philippines, which established the pioneer foam and mattress brand Uratex of Polyfoam Chemical Corp. with only P4,000 in capital in 1968.
I asked Naty about her and late husband Robert Cheng’s success secrets. Apart from the usual reasons such as hard work, perseverance, attention to detail, and good customer service, one of the top reasons is the Cheng couple pioneered brand building in the foams and mattress industry with their local brand Uratex, whose name is synonymous with good quality, affordable prices and reliable customer service. In the past, other mattress businesses didn’t have their own brand names.
Today, Uratex is now the Philippines’ leading local manufacturer of mattresses, with factories nationwide. Her hardworking daughters who actively assist her are eldest child Pinky, in charge of finance, and daughter Peachy, helping out in operations.
Her family and Uratex have donated and supported many charities, including donating thousands of mattresses to calamity victims such as those of super typhoon Yolanda and the recent terrorist conflict in Marawi City. Naty said she was touched to hear Yolanda victims say that, if not for the typhoon crisis, they would never have ever experienced sleeping on mattresses due to their poverty.
FIL-CHINESE ENTREPS DONATE SCHOOL BUILDINGS
The Federation of Filipino Chinese Chambers of Commerce & Industry, Inc. (FFCCCII), led by president Domingo Yap, recently met with ABS-CBN Broadcasting Corp. officials led by Carlo Lopez Katigbak to finalize a partnership in philanthropy, with the Filipino-Chinese entrepreneurs donating five public school buildings to economically disadvantaged rural barrios through the ABS-CBN Lingkod Kapamilya Foundation, Inc.
STOCKS HIT A HIGH
The Philippine Stock Exchange (PSEi) tops 8,500 to finish at 2017’s 11th record high on Nov. 2 after All Saints’ Day. What are the reasons for general optimism by businessmen, local and foreign investors about the Philippine economy?
The successful diplomacy of maverick President Duterte in gaining multi billion- dollar investment and assistance support from Asia’s two biggest economies, China and Japan, as well as strengthening ties with archrivals US and Russia plus his administration’s huge, P8.44-trillion infrastructure “Build, Build, Build” program until mid-2022 and the forthcoming expected approval of the government’s bold tax reform program. Can the politicians of the Philippine Senate deliver on the high expectations that they will approve the tax reform bill by December, which is crucial to sustain the fast momentum of Philippine economic growth and of bullish investor confidence for a great new year in 2018?
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