Biz Buzz: The best, according to Bloomberg
What do pop star Rihanna, New Zealand Prime Minister Jacinda Ardern, activist Greta Thunberg, champion gymnast Simone Biles, Marvel Studios president Kevin Feige and San Miguel
Corp. chief Ramon S. Ang have in common?
Well, on the surface, not much.
But according to the exclusive annual “Bloomberg 50” list announced yesterday, these personalities “from finance to fashion and technology to trade were the people from around the world “who defined 2019.”
This elite list of newsmakers— compiled from, debated on and selected by a panel of ranking reporters and editors of the world’s most influential business news organization—is on its third edition, and marks the first time a Filipino was included on it.
“Ramon Ang, the magnate remaking the Philippines” read the section on the president of the country’s largest conglomerate whose interests span food and beverage, to cement, energy, to infrastructure.
“Ten years ago, San Miguel was primarily a food and beer conglomerate. (It’s named after its original 1890 brewery, opened when the Philippines was still a Spanish colony.) Ramon Ang, who’s run the company since 2002, has expanded into the electricity, oil, and construction industries,” it read.
“San Miguel still makes plenty of beer, but the $2.15 billion purchase for 86 percent of Holcim likely allows it to capitalize on President Rodrigo Duterte’s pledge to spend $170 billion on infrastructure,” Bloomberg added. “San Miguel is building a lightrail system and will soon break ground on the airport in Bulacan province, not far from the capital. It will have three times the capacity of Manila’s current one, which is 71 years old and regularly ranks among the world’s worst.”
Indeed, he is a worthy inclusion in this exclusive group.
The VIPS included on this list will be honored in fancy dinner in New York City on Monday evening hosted by the Bloomberg News top brass.
Billionaire and US presidential hopeful Michael Bloomberg might even make an appearance, we hear.
As usual, Ang has a tight and busy schedule at the office, but flying to the Big Apple and back in a jiffy is no problem, given the ultra long range private jet at his disposal. Clearly, congratulations are in order. —DAXIM L. LUCAS
‘Lechonera’ foray
Just like a number of other property developers that have diversified into food retailing, the group of businessman Jose
Antonio is taking a bite out of the food business. And we’re talking about the star of the typical Pinoy buffet fiesta.
We confirmed from reliable sources that the Antonios have invested in Elarz Lechon, which pitches itself as the “Pambansang Lechon” (national roast pig).
The headquarters of Elarz lechon is at the Centuria Medical building of the Antonios’ Century Properties Group.
Elarz Lechon was founded in 2001 by Manjo and Manric Zalamea, grandchildren of Leonor and Jose Lontoc who founded Elar lechon in Montalban, Rizal, in 1941. Apart from selling hotfrom-the-oven lechon, Elarz’s commissary now produces canned “lechon” (lechon de lata) in different variants, like corned lechon or “paksiw na lechon,” apart from the original recipe of Elar.
These days, this “lechonera” also uses a digital platform to grow its business, not just by selling its stuff online but also enlisting agents. As to whether the African swine fever will affect foodies’ spending on lechon this Christmas season, it remains to be seen. Nonetheless, the Antonios seem upbeat that this is a business worth investing in for the long haul. — DORIS DUMLAO-ABADILLA
Labor dispute concluded
The National Labor Relations Commission (NLRC)’S ruling against DNA Holdings Corp. (formerly Philab) on the case of illegal dismissal filed by former executive Tee Sing Tang has become final and executory. The legal proceeding was concluded by way of entry of judgment on Aug. 14, 2019.
The labor arbiter declared that complainant was illegally dismissed from his employment in 2017 and ordered DNA to pay SGD 290,000 (P10.8 million) representing the payment of his salaries for the unexpired portion of his unemployment contract and signing bonus plus 10 percent thereof by way of attorney’s fees. Nominal damage was also awarded in the amount of P50,000.
Tee was previously CEO of DNA’S 100-percent owned subsidiary MEDX Pte. Ltd. which was envisioned to be a health care platform.
“Not material,” is how DNA described the impact of the ruling. “The company is reaching out to complainant to explore his willingness to entertain alternate ways of payment,” the company said in a disclosure. — DORIS DUMLAO-ABADILLA
SEA Games sympathy
The country’s hosting of the 2019 Southeast Asian Games is in full swing and needless to say, many events aren’t going quite as planned despite the massive budget.
But lending sympathetic words to the organizers was GMA Network chair and CEO Felipe L. Gozon. During the company’s annual Christmas party to members of the press, Gozon unexpectedly veered into the topic of the SEA Games and its mishaps.
He, too, was frustrated but then some understanding was in order as he said no project large or small goes off without hitches.
“We’re all Filipinos here so I can say this: I haven’t met a contractor who has finished [exactly as planned],” Gozon said.
He cited the example of the installation of a new elevator in GMA’S headquarters in Quezon City a few years ago.
“It was just an elevator but it was delayed for months,” Gozon said. His solution was to penalize the contractor. Like Gozon’s penalty, full accountability on all issues that cropped up should be in order once the games are done. And we are not talking about some missed bus rides or bad food. — MIGUEL R. CAMUS INQ