FIGARO SYSTEMS, CAMERTON EYED FOR LISTING

Electronics manufacturing and food retailing magnate Jerry Liu is planning to list two more of his business units, namely, food retailing business under Figaro Systems and diversified holding firm Camerton Inc., on the Philippine Stock Exchange within the next three years.

In a chat with reporters after Friday’s investors briefing of Cirtek Holdings Philippines Corp., the first company that he brought to public hands, Liu shared plans to expand various businesses.

Under the food retailing holding firm, Figaro Systems, the group now operates 97 Figaro restaurants, 67 Angel’s Pizza outlets and nine outlets of Tien Mas, a local brand that serves Taiwanese cuisine.

Liu has brought the 24-yearold Figaro coffee shop brand to overseas markets. He said Figaro now had nine international stores and the overseas network had been growing.

“We are pursuing the Middle East market. In fact, our Saudi Arabia franchisee is now in town. We are expanding. We have three now and we’re adding another two [in Saudi Arabia] this year,” Liu said.

Figaro also operates one store each in Dubai and Qatar. He noted that the Figaro outlet in Dubai had become a favorite meeting place of overseas Filipino workers.

“We have potential to grow our food business to a very large scale,” Liu said.

In Asia, Liu said Figaro had attracted franchisees who wanted to set up shops in Malaysia, China and Singapore.

Moving forward, Figaro Systems can grow through acquisi- tion and fast track growth by bringing in institutional investors, Liu said.

“We are actually interested in—a little bit more—on the fastfood chain and we’re interested in snack foods,” he said, adding that there were ongoing talks for a potential acquisition.

Beyond food retailing, Liu noted that 15 percent of Figaro’s business was now coming from institutional supply by its commissary. For instance, he said Figaro was supplying food to carriers Philippine Airlines and Air Asia.

The entry of institutional investors into the food business would unlock the value of Figaro Systems, he said.

Liu, a Taiwanese businessman who settled in the Philippines, said that another option is to list his holding firm, Camerton, within the next three years.

“In our holding company, all business units are very stable so it has very good value,” he said.

Aside from Cirtek Holdings and Figaro Systems, Camerton owns non-life insurance firm Mercantile Insurance Co. and a pharmaceutical distribution company.

“That is very diversified, however, [it has] very stable growth and all business units are making money,” he said.

The listing of both Figaro Systems and Camerton may be possible in the next three years, Liu said.