Edgar Jaruda “Injap” Sia, Jr.

Chairman of Double Dragon Properties

Personal Information
Age: 39-40
Sex: Male
Birthdate: 1977
Citizenship: Chinese- Filipino
Mother: Pacita Sia
Father: Edgar Sia
Siblings: Ferdinard Sia (2nd) , Rizza Marie Joy Sia (3rd)

Educational Backround
Post Graduate: University of San Agustin (Ilo-Ilo)
BS Architecture (Dropped out)

Household Composition
Marital Status: Married
Spouse: Shella Sia
Children: 2

Edgar “Injap” Sia II, 39, was born in Iloilo City in 1977 and grew up in Roxas City,
Capiz province. He is the eldest of three siblings. Despite Injap being a true-blue
provincial guy and unfamiliar with the ins and out of the more complex business
environment of the Philippine capital, he made sure he is able to learn and adapt fast.
He had his elementary, high school and college education all in the province. But he
strongly believed that his provincial background having the grassroots knowledge that
he learned on the ground can become his advantage. He belongs to a rare breed of
dynamic and disciplined young men who have proven that one is never too young to put
up up a business. At 24-years-old, he is at the helm of five businesses operating in Iloilo
City which includes a hotel, an eatery, mineral water producer, a photo processing shop
and a laundrymat. A native of Roxas City, Capiz (on his father’s side) and of La Paz,
Iloilo City (on his mother’s side), Injap was raised by parents who place high value on
work, time, money, and close family ties. “My father was the eldest of five children who
worked for a long time in his own father’s business. After marrying my mother he
managed a stall in the public market in Roxas City. Mama was a disciplinarian and a
stickler to time. She would bring me to the stall from our apartment every morning to
help repack bijon or sugar with my father.” It was while working under this environment
that Injap’s love for entrepreneurship developed. In his tender years, he dreamt of
becoming a successful businessman just like his parents. While studying architecture at
the University of San Agustin, he put up the Injap Color Plaza infront of SM Delgado
where the Farmers Batchoy once stood. A few years later, his studies put on hold then,
Injap established the Four Season Hotel along with friends and classmates, namely,
Rex Chua (of Iloilo Society Commercial), Jonathan Gomez (of General Santos,
 Cotabato), and Ryan Ang (of Kalibo, Aklan). Shortly later
followed the Food Season in SM City, Holland Pure
(producer of mineral water) in Mabini, and Mister Labada
(a laundrymat). Most recently, Injap found another
partner to permanently help him in his own business: 21-
years-old Shella Ang of Kalibo, Aklan whom he wedded
in style. She is Ryan Ang’s sister and Injap’s love since
their high school days at the Iloilo Chinese Commercial
High School. A young lady who earlier took up
economics, she will handle Mister Labada and the photo
developing shop’s finance and accounting as well, and
help him maintain a balanced lifestyle fashioned after
Injap’s own idea: neither poor nor extravagant. Where
does Injap go from here? His priority agenda is to
take up crush courses in business management in
order to enhance his management skills. Taking off
from a definition of his ultimate goals, which is to see
his parents retire from hard work five years from now,
by this he means he wants to provide them the
pleasure of having the time and money to do
whatever they want at any time. That he says is the
true wealth he aims to give them. “Gustong-gusto ko
makabalus sa ila. After I have accomplished this, I will
work for my own benefit. That is my source of fulfillment.”

Edgar “Injap” Sia Milestones

Where did they get the capital one may ask? Injap acknowledges his parents as his
major financier and with support coming from the parents of his partners on some
businesses. At the start, convincing his equally business-oriented parents for seed
money was a task. To earn their trust and confidence, he had to prove himself a
competent entrepreneur the way his father did during his time. How Injap put up his first
business venture is one interesting tale. Gifted with streetsmart ability, he recalled
making a hasty study on the feasibility of converting the batchoyan into a photo
processing shop. For days without fail, he positioned himself beside
the batchoyantallying the number of people passing by on weekdays and weekends to
determine the business potentials of the area. Only Injap knows how many bowls
of batchoy he had eaten to be able to see and assess the cost of renovating the
interiors of the eatery he soon would claim.

Of course, the figures were not enough to be presented to his parents. He also thought
of other convincing ways to make his elders realize his serious intent of becoming a
businessman. Back home in Roxas City, his family maintained a supermart where bread
was sold. Getting then from suppliers was a toll to the family’s resources. So why not
produce their own bread, he thought. When off from schoolwork in Iloilo, Injap took up
baking lessons. As a result of this, a bakery was opened and to this day it produces
their own line of bread. Injap also indulged in the buy-and-sell of vehicles, proof enough
of his entrepreneurial capability.

The eldest of the three children, Injap indeed carries his parent’s business genes. His
brother Ferdinand is inclined to be a lawyer while his only sister, Rizza Marie Joy, is too
young to know what she wants although she is starting to be curious about the
Gokongweis and the Sys, both business tycoons. Nonetheless, Injap’s parents are the
happiest about Injap’s success.

“Ang salig nila (sa akon) indi ko gid i-destroy,” he vows. “I was twenty years old when
Four Season was constructed.” The idea of putting up a hotel came after a summer
vacation in Cebu City fours years ago. Through the suggestion of a friend, Injap and
Jonathan (Gomez) stayed in a plain-looking hotel near the capitol ground of Cebu. What
impressed them. though, was the security measures observed by the owners and the
comfortable rooms offered at affordable prices. Why couldn’t Iloilo City have such
accommodations?

Thus the idea of a standard hotel was borne. Three years now in operation, Four
Season Hotel provides domestic travelers and business executives an affordable,
secure, classy and cozy place to stay in. Of the four original partners, only two have
remained steadfast and in full control: Injap who oversees operations and management,
and Jonathan who takes care of the finance and accounting areas. A pool of
consultants comes in handy for technical advice. For a man in his early twenties, Injap
has the mind of a fifty-year-old who observes life and derives wisdom from it. Bar-
hopping and partying are the farthest from his mind. Thanks to parents who inculcated
in him the value of fair treatment, word of honor, good business reputation, honesty, and
the spirit of teamwork, he approaches his business with an open mind and a practical
understanding of work dynamics.

“The hotel is like a music band. Every musician has a role to play. Kung drummer
ka, you play the drums. Kung guitarist ka, you only play the guitar. A drummer cannot
be a guitarist or vice versa. If every musician plays his (designated) role well, the music
band will produce good music. “In a hotel, everyone has a specific role. There is no
overlapping of duties. If each (employee) does his role well, the hotel will produce good
service. Within this scenario, I am the coach who makes sure everything is done as
expected.”

Injap’s idea of employer-employee-customer relationship is full of good sense and

highlights in interdependence. What an employer is influences what the employee
becomes, he starts. “Kung paano i-treat (sang boss) ang employees, that’s how they’ll
also treat their customers. Whatever culture is developed (in the work environment) will
also be the same culture the employees will transfer (to other people). If the employer is
rude and hostile, the employees will also be the same as they relate with their clients.”
In his business concerns, Injap strives to be positive and cool, and not one to succumb
to pressure or emotions.While Food Season and Holland Pure are offshoots of the Four
Season Hotel, Mister Labada, however, is Injap’s brainchild and exclusively his own.
How does it differ from the other laundrymats? Well, he says it operates state-of-the-art
laundry and dry-cleaning machines which are the first of its kind in town and in the
region. There are three outlets scattered todate in the city.

Edgar “Injap” Sia as a loving eldest Brother and Father to his Children

His billions notwithstanding, Injap has remained simple in his everyday life. He only
owns four pairs of “cheapy-cheapy” shoes. “I used to have five (pieces) of suits. Masikip
na yung isa. I gave it to my son. So I only have four suits now.” Injap’s life illustrates that
success is not selfish. Long before he sold Mang Inasal to Jollibee, he incorporated the
business and gave 30 percent share to his brother Ferdinand and 15 percent to his
sister Mariz. “Our parents taught us to love each other,” he says. His life affirms that
success is knowing how to stick it out with the people who were there for him when he
was starting. He made sure to make a difference in the life of his driver, Judy Yadao. He
came from a car rental company in the domestic airport and was the one who drove for
Injap when he started exploring putting up Mang Inasal in Metro Manila. He became his
constant driver every time the promdi Injap would be in Manila. When he settled in the
city six years ago, he made Judy his personal driver. His billions have never altered his
tastebuds. “I eat everything. Mang Inasal is still my favorite comfort food. I eat it at least
twice a month. I also like home-cooked food like adobo and grilled bangus.”

His faith is unshaken. “I cannot explain it but it’s so clear to me that there’s an
intervention (of God in my success in the business). I am just used as an instrument to
that specific mission to create responsible businesses that uplift the lives of many. All
the time, everything I do, major or minor, is aligned to creating responsible businesses
that will last very long,” says Injap, who now employs 30,000 provincianos like him. “I
am a very proud provinciano. What will be a difficult endeavor for a non-promdi is I think
three or five times difficult for a provinciano. I want to inspire. I want to tell people not to
be afraid to go out of their comfort zone. Most of their fears are just totally unfounded.
It’s not difficult,” Injap concludes.

Humble Beginnings of Mang Inasal (History)

At 26 years of age in 2003, he started from scratch the fast-food chain Mang Inasal and
grew it from a humble branch in Iloilo City to 338 branches nationwide within the first
seven years of operations on the first day the first ever branch of Mang Inasal opened to
the public in a 200-sq.-m. Space at the car park building of Robinsons in Iloilo City, the
store’s grill exhaust malfunctioned. Instead of serving chicken barbecue, Injap Sia, then
26, and his 20 employees fried the chicken. The customers did not complain. It was
Dec. 12, 2013, the opening day, which despite the grill exhaust that broke down, was a
success. Mang Inasal was founded from Injap’s foresight that a fast-food barbecue
business would succeed because no one else was doing it that time. Armed with
business savvy that was sharpened by his being a provinciano, he borrowed P2.4
million from his father to bankroll the barbecue business. In just eight months of Mang
Inasal’s operation, Injap was able to return his personal loan from his father, paying him
with a car that amounted to the capital he borrowed from him. He grew it from a humble
branch in Iloilo City to 338 branches nationwide within the first seven years of
operations. It was at this point in October 2010 that Jollibee Foods Corporation acquired
70% of Mang Inasal for p3 Billion Pesos ($68m USD), and in April 2016 he sold the
remaining 30% of Mang Inasal to Jollibee for p2 Billion Pesos ($41m USD), enabling
Injap to cash in a total of p5 Billion pesos ($109m USD) from the Mang Inasal venture
that he started from one simple branch 12 years ago. As a result of his careful planning,
clear visioning, thorough business design and passionate execution, Mang Inasal today
continues to shine, Mang Inasal remains to be one of the largest and most recognized
fast-food chain in the country with over 450 stores nationwide and generates over p12
Billion Pesos in system-wide sales revenue and also consistently showing double-digit
same store sales growth year-on-year. In 2012, two years after the successful first
acquisition of Jollibee Foods Corp of Mang Inasal, Injap and his siblings together with
Tony Tan Caktiong and his siblings, decided to embark on another partnership
capitalizing on the growth potential of the property business sector in the Philippines. 

Humble Beginnings of Double Dragon Properties Corp. (History)

In 2012, Double Dragon Properties Corp was born with a clear vision of accumulating a
total of 1 Million square meters of leasable space by year 2020. Injap having been born
in the province in a family operating grocery retail for over 40 years now, he has an
innate understanding of the retail behavior and progression of economic activity in these
provincial areas. It is this understanding and experience that has catapulted
DoubleDragon’s community mall chain “CityMall” to be the apparent dominant leader in
the Philippine community mall industry. DoubleDragon’s other major subsidiaries are
DD Meridian Park Development Corp and Hotel of Asia Inc. DoubleDragon embarks on
real estate projects that will allow it to build up its recurring rental income as well as
accumulate a string of various appreciating property hard assets in various prime areas
across the country.

It was born with a clear vision of accumulating a total of one million square meters of
leasable space by year 2020. DoubleDragon, named such because both Injap and Tony
Tan Caktiong are born under the Dragon sign, now has 10 CityMalls and is projected to
grow to 100 community malls in 2020 all over the country. DoubleDragon’s other major
subsidiaries are DD Meridian Park Development Corp. and Hotel of Asia Inc. (Hotel 101
and Jin Jiang hotels). Today, DoubleDragon is one of the actively traded listed property
companies in the Philippine Stock Exchange with a market capitalization of over P100
billion ($2 billion). Injap — the promdi who was born in Iloilo, raised in Roxas City and
educated in Iloilo, though he dropped out from pursuing Architecture at the University of
San Agustin — was 33 when he tasted his first billions. At 39, he landed as No. 17 and
the youngest in the Forbes Magazine’s list of 50 Richest Filipinos with a net worth of
P58 billion. Now that he is 40, Injap continues to dream and sit in his favorite corner in
his Makati home to overanalyze, his favorite pastime.“Anticipation is the best way to
successfully navigate your journey. How do I relax? By traveling with my family. But
what gives me instant relaxation is overanalyzing,” Injap says, laughing as his eyes
squint. “Sitting in one corner and think and think. Thinking is relaxing for me. I do it all
the time for many, many years. When you over think, you see both the problems and
the solutions.” He adds, “Business is a total package of imagination, execution and the
ability to repel distraction.” Injap has a gift of persuasion. When he was conceptualizing
Mang Inasal, his Filipino-Chinese father, Edgar Sr., almost convinced Injap to change
the name of the business to “Mng Inasl” so the business name would compose of only
eight letters and not 10 “because Jollibee and Chow King have eight letters and eight is
lucky in feng shui.” Injap almost gave in to his father’s suggestion until he countered that
“Banco de Oro” had 10 letters and it was doing well. He persuaded his father to lend
him the capital. Perhaps it was the same brand of persuasion that Injap used when he
talked to the parents of his three classmates in 1997 to invest in a small hotel they were
putting up in Iloilo called People’s Hotel. The hotel still exists, a witness to his grit as a
budding businessman. In those days, he also put up a Fuji photo shop where he himself
was the one who worked in the dark room to process the pictures. “After I sold the first
70 percent of  Mang Inasal, I invested in a few industries where I want to learn. Like
PBCom, I have been in its board for 2 1/2 years. I’m curious of what happens in the
banking system. I am also in the board of Maxicare, one of the largest HMOs. In fast-
food, I work with the group of Jollibee. Those are the three different worlds where I want
to learn,” he says. “Familiarity builds up your confidence. And it gives you a lot of
advantages as you go forward,” adds Injap, whose sobriquet is derived from the fact
that his father Edgar Sr. is part Intsik (Chinese) and his mother Paz is part Japanese.
“Injap, that’s Intsik-Japanese,” he says. Now, Injap Investments Inc. is the name of his
holding company.

Corporate Information

It all started with a Vision. Edgar “Injap” Sia, at the age of

twenty six, grabbed the opportunity to lease a 250 square
meter space at the Robinson’s Mall Carpark-Iloilo in
December 2003. It was there that Mang Inasal, Hiligaynon
for Mr. Barbeque, was born. Early on, he learned the
importance of following your instincts, taking risks,
strategizing, negotiating, and motivating yourself and your
people. He also knew that the Filipino barbeque quick service restaurant category still
had the potential for growth. He started a business that had the potential for nationwide
expansion. With the support of his family, he embarked on a journey that changed his
life forever. Mang Inasal’s authentic fusion of traditional Filipino cuisine with the dine-in
concept. Famous for its native-style and “nuot-sarap” Chicken Inasal with its pioneering
“unlimited rice”, Mang Inasal quickly won the hearts of its customers with its distinctively
Pinoy stamp-grilling and special marinade made out of local secret spices. The
restaurant was an instant success, opening close to thirty branches in just three years.
By 2005, confident of the stability and brand recall of the business, he opened Mang
Inasal for franchising, concentrating his efforts in Visayas and Mindanao where Inasal is
most popular. Franchise offers for Luzon soon followed.
The primary reason for Mang Inasal’s success is its wide array of Filipino comfort food,
especially Chicken Inasal - with its distinct taste that Pinoys have grown and continue to
love. By 2009, only six years after the first branch opened, Mang Inasal had a store
network of one hundred stores. Mang Inasal soon drew the attention of Jollibee Foods
Corporation (JFC), the Philippines’ largest food service company and one of Asia’s most
admired companies. JFC acquired 100% share of Mang Inasal in April 2016. 

Today, Mang Inasal is the leading Pinoy branded outlet in the country, with its strong
portfolio of Chicken Inasal, Pork BBQ, Halo Halo, and Palabok. Variations in the menu
are constantly being developed to meet the discriminating demands of its growing
customer base. Mang Inasal has steadily grown ever since its acquisition, making it one
of the fastest growing quick service restaurants in the country. To date, Mang Inasal has
over 450 stores nationwide and counting. The brand has garnered numerous awards
over the years, including the Outstanding Fast Growing Local Food Company from the
19th Annual National Consumers Awards in 2008, the Most Outstanding Quick Service
Restaurant and Most Outstanding Chicken Inasal restaurant from the 2010 Dangal ng
Bayan Awards, and the Outstanding Filipino Franchise Award from the 2015 Franchise
Excellence Awards. Mang Inasal now lays the foundation for a new era of prosperity,
moving forward to a horizon of possibilities as the brand continues its winning tradition
of excellence.
MISSION
 To serve great tasting food, bringing the joy of eating to everyone.
 The Pursuit of Customer Satisfaction
 Customer Satisfaction has always been Mang Inasal’s priority. We live
the FSCphilosophy by serving great Food, delivering excellent Service, and
maintainingCleanliness and good store condition every day.
High-Quality Pinoy Products
The variety of food that we serve is carefully developed to ensure ingredients are
secured from suppliers with equally high regards to quality and safety. These are then
prepared, cooked, and served compliant to the highest standards that will surely make
each customer feel satisfied after every meal.

DoubleDragon Properties Corp. is a

newly listed real estate company led by
its Chairman Edgar “Injap” Sia II (founder
of Mang Inasal) and the Co-Chairman
Tony Tan-Caktiong (founder of Jollibee).
Having achieved a market capitalization of over $2 Billion in less than two years from
IPO, it is now one of the top 5 listed companies on the Philippine Stock Exchange in
terms of market capitalization. The Company’s Vision is to accumulate 1 Million
square meters of leasable space by 2020. 700,000 square meters of leasable space
will be coming from the rollout of 100 community malls in the provincial areas of the
Philippines under its subsidiary “CityMall” which is a partnership with SM
Investments Corporation. CityMall is poised to become the largest independently
branded community mall chain in the country. The balance of 300,000 square meters
of leasable space will be coming from two office projects in Metro Manila, namely DD
Meridian Park in the Bay Area and Jollibee Tower in Ortigas CBD. The Company's
flagship project in Metro Manila is DD Meridian Park, a 4.8 hectare prime commercial
block located in the growing central business district of the Bay Area along the
corners of Roxas Blvd., EDSA and Macapagal Ave. The first phase, DoubleDragon
Plaza, which consists of four BPO Towers on top of a retail podium is currently under
construction and slated for completion by 2018. DD Meridian Park, once fully built,
will contribute 280,000 square meters of leasable space to DoubleDragon’s portfolio.

Corporate Social Responsibility

DoubleDragon Properties Corp. is focused on integrating Corporate Social

Responsibility by supporting Jollibee's Foundation with their programs of nurturing
and educating the people living in the communities that they serve by bringing out
the best in their entrepreneurial skills.

Education Make quality education accessible for the less fortunate

Youth Empower the youth by bridging them to employment and entrepreneurship

Entrepreneurship Nurture a mindset of entrepreneurship among people

Our Commitment As a socially responsible company, we rebuild communities by:
 Implementing interventions that will encourage and empower the youth to be
successful in their work and ultimately as entrepreneurs.
 Bring people together- the core of every community – and help them restore
their dignity.
 Cultivate and nurture a workplace that values social good.

DoubleDragon and Jollibee Group Foundation (JGF) has entered into a partnership
to help communities move forward in their development with sustainable results.
With the support of DoubleDragon, JGF was able to expand its flagship initiative –
the Farmer Entrepreneurship Program (FEP). FEP aims to increase the income of
smallholder farmers by linking them to the supply chain of institutional markets such
as Jollibee Foods Corporation (JFC). Since its launch in 2008, FEP has facilitated
the training of 1,816 smallholder farmers on agro-enterprise development and
enabled 20 farmer groups to deliver to 20 institutional markets including JFC.  In
2015, 12 farmer groups delivered white onions, salad tomatoes, green bell peppers,
hot peppers, calamansi, cabbage, Baguio beans, sayote, Chinese cabbage
(pechay), and carrots to JFC, reaching a combined total of 950 metric tons,
amounting to more than P43 million in value. These farmers gained a 200 to 500%
increase in net income from their sales. One-fourth of all vegetable produce used
by JFC for the year was purchased directly from farmer cooperatives. Over the
years, DoubleDragon’s contribution to FEP, has helped build the capacities of
partner farmer groups. Eight farmer groups attended the 14th National Vegetable
Congress in Cagayan de Oro City. The conference helped the farmer participants to
look beyond their own communities and gain a better understanding of the vegetable
farming industry on a national and international scale. Michael Regencia , Chairman
of the Caoayan Onion Growers and Producers Cooperative in Ilocos Norte
underscored the value of what he has learned from FEP.  “Bilang magsasaka,
malaking pinagbago sa buhay ko dahil sa programa na ito. Sa pagkatao ko pa lang,
dati hindi ako palaimik, mahiyain akong tao. Wala naman po akong pinag-aralan. Sa
pamamagitan ng mga training at seminar, natutunan ko kung paano makisalamuha
sa iba’t-ibang tao, kahit mga institutional buyer, at kung paano mag-handle ng isang
kooperatiba. Sa buhay ko naman, nakikita ko na unti-unting umaangat yung
kabuhayan namin. Masasabi ko na pagdating ng araw, may maayos na kinabukasan
akong maibibigay sa mga anak ko lalo na sa kanilang pag-aaral.  ”
(As a farmer, the FEP program has made a big impact on my life. I used to be quiet,
and hesitant to talk to people; I was not able to finish school. Through [FEP] trainings
and seminars, I learned how to communicate with people from all walks of life, even
institutional buyers, and now manage a cooperative. In terms of our livelihood, I can
see that we are continuously growing. I am confident that I will be able to provide my
children a better future especially their education.), shared Michael. Moving forward,
JGF and DoubleDragon are working on education initiatives to help promote access
to education including scholarships for technical skills training in Metro Manila and
classroom building construction in Guimaras, Roxas City and Cotabato City.

The Farmer Entrepreneurship Program,

works with local government units,
micro-finance institutions and
community organizations to provide
well-rounded support to smallholder
farmers. Through the Farmer
Entrepreneurship Program smallholder
farmers are given the chance to increase their income by supplying directly to
institutional buyers such as Jollibee Foods Corporation.
Our 20/20 Vision
To be one of the top 5 largest property companies in the Philippines by 2020.
Our Mission
We will reach 1 million square meters of leasable space by 2020 significantly through
the rollout of 100 CityMalls and the completion of DD Meridian Park.  We will uplift
the lives of our fellow Filipinos through the development of projects in underserved
areas across the country. We will build and develop a strong and dynamic
organization through the creation of a working environment that both motivates and
inspires excellence in everyone.
Our Core Values
We believe in profitability through sincerity, integrity, hard work and fairness in all of
our dealings. We believe in upholding the trust and confidence of our investors
through transparency and prudent management of resources. We believe in
embarking only in ventures that will endure the test of time and remain relevant for
generations to come. We believe in fostering a company culture engrained in mutual
respect, collaboration and overall development of employees. We believe in
consistently delivering quality products and services that delight the customers we
serve. We believe in promoting sustainable development through the use of ‘green’
technology in our projects.
INJAP INVESTMENTS INC.
DoubleDragon Properties Corp. - Incorporated as
Injap LandCorporation in 2009, DoubleDragon is
engaged in various real estatedevelopments.
DoubleDragon is now a joint venture betweenInjap
Investments Inc. headed by its Chairman Edgar Injap
Sia IIand Honeystar Holdings Corporation headed by
Mr. Tony Tan Caktiong,also the Chairman and
Founder of Jollibee Foods Corporation.The company will continue to embark in
commercial, residential, andpublic-private partnership (PPP) projects.
Hotel of Asia, Inc. - is currently into condotel projects
under Hotel101brand, established in 2011 by Injap
Investments Inc, Oishi-LiwaywayMarketing
Corporation and Staniel Development
Corporation.The group will also operate Jin Jiang Inn
in Ortigas by 2013.
Mang Inasal Philippines Inc. - A chicken barbeque
fastfood chainwith over 440 stores nationwide. 70%
stake of Mang Inasal wasacquired by Jollibee Foods
Corporation last 2010.

People’s Hotel - A wholly owned subsidiary of

InjapInvestments Inc., People’s Hotel is a 5-storey
businessman’shotel located in Iloilo City built in year
1997.

Deco’s Lapaz Batchoy Inc. - established in 1938, is

known as the oldestLa Paz Batchoy restaurant in the
country. Acquired by InjapInvestments Inc in 2007, it
has currently 10 stores operating mostlyin the Visayas
region.

Injap Foundation - Established for the purpose of

executingthe various community-oriented activities.
Some of the mostnotable projects donated by Injap
Foundation are: The4-storeyIloilo City Community
College Building; The newly builtCatholic Parish Church Building in Cagay, Roxas
City;The Pavilion in Gawad Kalinga Enchanted Farm in Bulacan; The Community
Center Building in Tanza,Iloilo City.

Published Works

Edgar “Injap” Sia II has been widely admired as an entrepreneurial

wunderkind since the fast food chain he founded in 2003, Mang
Inasal, was acquired by Jollibee Foods Corporation at a 70
percent stake for P3 billion in 2010—when Injap was just 33 years
old. Now 40 years old, Injap shares the wisdom he has gained
throughout his life in business as he went from a young boy
repacking candies in a grocery store in Roxas City to the youngest
billionaire on the Philippines’ Forbes 50 Richest List. Out now from
Summit Books is Life Principles by Injap Sia, a book through which
the young business magnate shares the personal beliefs that have
brought him tremendous business success. Written with Esquire
Philippines editor-in-chief Kristine Fonacier, the book is an
inspiring read for anyone who wants to reach for his or her dreams. In Life Principles by
Injap Sia, Injap lets readers in on the experiences from his youth—from working in his
parents’ grocery store as a child to winning a nationwide car giveaway as a young man
—that have instilled in him business lessons he continues to adhere to today. He then
tackles the business values that have served him through the years, listing the phases
an entrepreneur should go through when starting out and identifying the points one
should consider before diving headfirst into a business. Finally, he imparts the principles
he lives by that have made him the fearless yet disciplined businessman and
passionate yet grounded dreamer that he remains today. Life Principles by Injap
Sia features a foreword by Jollibee founder Tony Tan Caktiong—Injap’s partner in the
fast-growing real estate company DoubleDragon Properties—who writes, “When you
step back and put it all together, you realize that Injap is quite an amazing person, and
you say to yourself, how lucky I am to have met him, to be doing business with him, and
most important, to be his friend.” Injap Sia will donate all royalties received from the sale
of this book to the Injap Sia Family Educational Scholarship charity program. The book
is available in bookstores, newsstands, convenience stores, and supermarkets
nationwide for P295.

Honours, Awards, Achievements & Distinctions

 For the past few years, Injap’s entrepreneurial skills has been recognized by
many institutions including his alma mater, in 2012 the University of San Agustin
Iloilo has conferred him a Doctorate Degree Honoris Causa Major in
Management.

 In 2016 this year he was also listed 17th in the Forbes Magazine 50 Richest
Filipino with net worth of p58 Billion Pesos ($1.2 Billion USD) and at 39 years old
is the youngest and the only one below age 40 on the list.
  Double Dragon Properties Inc. Chairman and CEO Edgar “Injap” Sia happily
received his Bossing award for his fast expansion into the world of real estate.

 PeopleAsia’s “People of the Year” roster

Further Readings

Young tycoon shows the way to success

Injap: “I make it a point every day to reflect if I am on track with my mission in life, and all I
ask from Him is for continued guidance that I do remain on track.”
Like any ordinary entrepreneur, Edgar “Injap” Sia II has also dreamt of his business
becoming big one day.But he never imagined that his success could reach such heights,
enabling him to make a name for himself—at a relatively young age at that—in the local
business community.Injap admitted that he can’t help but be overwhelmed with the good
fortune that came his way, as it was certainly quite a feat what he has achieved. From his
humble beginnings with Mang Inasal back in 2003 to trying his hand in the real estate
business, the young tycoon is indeed out to build his own empire but without sacrificing
the values he has long carried with him and made him a huge success in his ventures.
Today, Injap holds a sizeable 37-percent stake in DoubleDragon Properties Corp., of
which the Tan Caktiong family is a partner. Double Dragon’s CityMall Commercial
Centers Inc. (CMCCI) also has as its investor the country’s largest conglomerate, SM
Investments Corp., which held a 34 percent stake in the said subsidiary.

Take a peek into the life of Injap to better understand how success came to this young
tycoon, and and maybe pick up a lesson or two.

Q; What led you to this business of property and commercial development?

A: I really like the property business since I was in my teens. That’s why I took up
Architecture in college, because I like to visualize and make it happen. I also like to
imagine how one area that may look not okay, can be turned into something relevant. But
at that time, I cannot go into the property business in a big way because it needs both big
capital and business track record, which I don’t have at that time. When I was 26 years
old, I decided to start something that I could expand nationwide. To fit my situation then of
having limited capital, I had to find a gap in an industry where you can grow with limited
capital, and at that time, the branded Filipino barbecue fastfood category was vacant and
so Mang Inasal was born. The partnership of DoubleDragon came about after I met Mr.
Tony Tan Caktiong in the airport lounge sometime March of 2012. And he mentioned to
me that he heard that I was doing some property projects, and I told him that these were
just small scale projects. We agreed to meet after we come back from that Taipei trip to
attend the Jollibee convention there. And a week after that, we met for almost half a day
to discuss our long-term goals. We aligned our goals so our partnership in the property
industry can be put to good and meaningful use.
Q: Who influenced you? Who would you consider as your mentor?

A: The biggest influence early on are my parents. My younger siblings and I have seen
them struggle to start, grow and sustain their grocery store business in the province for
over 30 years. We saw their hard work and dedication in both running the business,
managing the family, and properly nurturing us, their three children, at the same time.
Since I was a small kid, I have been looking up to my business idols Henry Sy and John
Gokongwei. That’s why I named my 15-year-old son John Henry in honor of my idols. At
that time 15 years ago, I have not met both of them yet, but I have been following their
amazing story of starting their business small and growing it to an enormous scale and
reach. Recently, I have been blessed to be partners and to have closely interacted with
several seasoned older business people like Tony Tan Caktiong, Carlos Chan, Benedicto
Yujuico, Justice Bellosillo and Antonio Go. They are almost twice my age so they have
accumulated so much wisdom and I am lucky to learn a lot from them.

Q; what were the initial challenges and how did you resolve these?

A: In starting a business, given today’s mature business landscape, it is really a given that
you will face a series of head winds. In starting a business from scratch, the journey will
comprise of three stages. The first is the startup stage, then transition stage, then
sustaining stage. The most difficult stage are the first two stages of startup and transition,
during which, as the founder, you really have to plan carefully and execute with intense
passion. Since many of the major obstacles happen in the first and second stages (of
setting up the business), you have to brace yourself for all the difficulties. In the case of
DoubleDragon, we have also anticipated the startup challenges especially in our first two
years. Like in our flagship business CityMall, we started two years ago with just one piece
of vacant land, and with zero operating mall. But so far, we have already progressed
significantly—10 operating CityMalls; 28 more simultaneously under construction; and a
total of 54 secured prime pieces of property. By next year, we foresee that our projects
can already be significantly felt and our CityMall brand will start to inch up in terms of
brand recognition. We believe that a year from now, when people travel in the provinces,
they will already start to feel the strong presence of CityMall everywhere they go. And we
also aim to complete the acquisition of a total of 100 prime provincial land for CityMall
within the next two years, in time for the completion of 100 CityMalls by 2020. Our other
major Metro Manila projects DD Meridian Park in the Bay Area and Jollibee Tower in
Ortigas central business district are both under construction.

Q: Do you think there’s still enough room in the industry for new players like you?

A: If you choose to compete in a traditional and mature industry—like in my case, the fast-
food and real estate industry—the only way to compete successfully is to find a gap that
the big and established players have missed. Or find opportunities in an ongoing
transition. So it’s really important to study the specific industry you wanted to take on, and
look at it on a deeper level, to see if there is a gap that has been missed, or if there is a
transition that is about to happen.
 Q: Are you bringing something new to the table, an innovative approach maybe
that will enable you to capture your target market?

A: Specifically for CityMall, we offer the modern community mall platform in over 100
secondary and tertiary provincial cities (as we seek) to be in the forefront of the shift from
traditional retail to modern retail in the countryside. As our millennial population also starts
to become the working population, their minimum standards in retail also change and we
believe that the CityMall will cater to that growing millennial new families. Recently, we
signed a partnership with ABS-CBN to operate the CityMall cinemas, which have
completed our triangle in addition to having the existing partnership with the Jollibee
Group and SM Group. Having the top retail group, top fastfood group and top media and
entertainment group under one roof inside CityMall,  we believe that this is a dream
combination.

Q: How do you intend to differentiate yourself from the rest? How do you choose
your developments?

In most cases, CityMall is the first branded modern format community mall in that city. We
believe that in a year or two, the provincial modern retail transition will already be evident,
and by that time, CityMall and its tenants will be the biggest beneficiaries. We choose our
developments based on location but not only considering the current situation but also
how we see the center of gravity to be eventually shifted to CityMall. 

Q: What do you think is the reason behind your success?

A: I personally believe that I am just being used as an instrument to create something

relevant and which will have lasting positive impact on our society. I make it a point every
day to reflect if I am on track with my mission in life, and all I ask from Him is for
continued guidance that I do remain on track.

 Q: What’s your management style?

A: My management style changes varies depending on what stage the business is in.
One’s management style, I believe, is like raising a child from birth, during infancy stage,
adolescence stage and adulthood stage, and as such, the attention level and the areas of
focus should also change. Starting 13 years ago when I had put up Mang Inasal and up
to today, I ask myself five questions and ensure that I will be able to say yes to all before I
start a business. These questions are:

Can this business venture last for generations? Is there a gap that have been missed by
the big players? Is this venture scalable? Is there an industry transition that is about to
happen? Will this venture create a lasting positive impact to the society and its people?

Q: What do you do in your spare time? If you were not the head of Double Dragon,
which kind of work would you be engaged in and why?
A: In my spare time, I do treadmill for 40 minutes, about thrice a week. I also read books if
I find an interesting one, listen to music, and hang out with my family. I think if I am not
running Double Dragon now, most likely I would be enrolled in a course that I would find
interesting. I think I will be involved in education-related charity work, because I believe
that education is really the most effective way to lift people out of poverty.

How a college dropout became a billionaire

Edgar "Injap" Sia II, a 30-something entrepreneur whose barbecue chain has overtaken
multinational chain McDonalds in the second top spot in a span of 7 years, did not finish
college because he has set a goal, according to Butz Bartolome, a business consultant. 
Bartolome said Sia was focused on being successful in business and founded Mang
Inasal in an Iloilo City mall parking space with like-minded friends in 2003. To
compensate for his lack of education, Sia tapped the best talents and worked with
available opportunities around him.  "He was oozing with passion and full of confidence.
He had a dream in his mind. He put his studies at stake and accepted that fact. He
compensated [for his lack of education] by tapping the best in the community," shared
Bartolome, a franchising expert and book author who was among the intimate few
shepherding Sia during the growing up days of Mang Inasal.  It wasn't easy, shared
Bartolome. "They were faced with so many challenges. The suppliers were turning him
down because [Sia] was young and has no track record." Sia then tirelessly went
around his community in Iloilo and sealed supplier "deals," some of them forged in wet
markets, others through cooperatives. 

Bartolome shared that when they were preparing to grow the business through
franchising, they needed to manage not just the raw materials supply but also costs. "I
looked at the financial figures and I realized there is so much inventory. Out of 30
products, only 5 are making money. The achara? People are not using it and throwing it
away. We made a drastic move. We cut 30 items in the menu to 5. So when the point of
expansion came, it was easy."  Almost 8 years and over 300 owned and franchised
stores after, homegrown food giant Jollibee Corp scooped 70% of Mang Inasal for P3
billion. This deal essentially valued Mang Inasal -- a barbecue chain that serves
unlimited rice wrapped in banana leaves sourced from communities in nearby Guimaras
Island, and uses bamboo sticks provided by various cooperatives in the province -- at a
whopping P4 billion. 
Edgar Sia's Fast-Food Cashout

It started in 2003 when smalltown lad Edgar Sia II,

then a 26-year-old college dropout, grabbed a tiny
spot in the parking lot of a mall, the site of an
upcoming food hall. As a frequent customer
of McDonald’s and KFC, Sia knew what he’d been
missing in the fast-food scene: Filipino-style street
fare served in a restaurant-type setting.
Before long customers were lining up outside Mang Inasal as word spread quickly
through Iloilo City about Sia’s new eatery. Its charcoal-grilled chicken served with rice
wrapped in a banana leaf wasn’t like anything on the menus of McDonald’s , KFC or
even Jollibee, the local burger chain. The flavors were distinctively Filipino, as was the
earthy décor with wooden tables, handmade paper lamps and walls painted in orange,
green and yellow. “We really wanted to create a new category in this business, one that
wasn’t influenced by American food,” says Sia, 34, who’s often referred to by his
nickname, Injap. It’s a winning recipe; Mang Inasal’s affordable concoctions aimed at
Filipino taste buds has made it the country’s third-largest fastfood chain after Jollibee
and Chowking, both owned by fellow lister Tony Tan Caktiong, whose expanding food
empire has made him a billionaire. Sia’s eight-year-old barbecue chain, with 380 outlets,
has even overtaken McDonald’s. And it has lately put him on the road to riches. Last
October Jollibee, in a nod to its upstart rival, scooped up 70% of Mang Inasal for $68
million, valuing the outfit at nearly $100 million. The deal earned Sia a spot among the
Philippines’ wealthiest for the first time this year. With a net worth of $85 million, he’s
the youngest of the top 40.

Sia isn’t done yet. He retains a 30% stake in Mang Inasal through Injap Investment, a
family holding company in which his brother Ferdinand and sister Rizza also own
shares. He and Ferdinand, who heads operations, continue to run the chain and have
agreed to a three-year noncompete contract. “Mang Inasal was gaining ground and
becoming a competitor to Jollibee. It made sense to acquire it,” says Lovell Sarreal, a
consumer sector analyst who tracks Jollibee at ATR KimEng Securities, a brokerage
firm in Manila. As for Sia, he admits that butting heads with giant competitors wasn’t
conducive to his chain’s long-term future. “How long can an 8-year-old win against a 30-
year-old?” he argues, referring to the older Jollibee. He insists that being part of a
bigger fold will boost Mang Inasal’s fortunes: “Jollibee’s operational know-how and our
entrepreneurial energy is an unbeatable combination.” Mang Inasal, he claims, is on
track to reach a total of 425 branches this year and increase revenues by 40% to $186
million. Revenues from Mang Inasal’s owned stores contribute 5% to Jollibee’s
revenues of $1.2 billion, which Sia hopes to double by the end of this year. Born to
second-generation Chinese- Japanese-Filipino parents, Sia grew up in Roxas City in
Capiz, a small town 280 miles south of Manila. His parents ran a grocery store where
Sia worked on weekends as a cashier from the age of 10. He went to the University of
St. Agustin in nearby Iloilo City to study architecture but dropped out one year short of
graduating. “My mind was always somewhere else,” he admits. His wandering mind got
fixated on starting his own venture. In quick succession, he opened an express photo
shop and a Laundromat. He then took a bank loan to set up a small budget hotel. But
broader ambitions of going beyond his provincial roots got him thinking again. Along
came the offer to rent a corner in an upcoming food hall. “The overhead at the time was
low so it wasn’t that risky,” he says.

Mang Inasal, which means “Mr. Barbecue” in the local Ilonggo dialect of the western
Visayas region, from where Sia hails, almost missed out on its name. When he tapped
his father for the $65,000 capital he needed, the elder Sia agreed to the loan but shot
down the name, saying it had too many letters. Jollibee and Chowking, the country’s
biggest chains, had eight letters, an auspicious number, while Mang Inasal had ten.
Stumped, Sia hung up but quickly called his father back; Banco de Oro, the Philippines’
largest bank, also had ten characters and was doing well. With the help of his wife,
Shella, his high school sweetheart, Sia concocted Mang Inasal’s distinctive marinade,
borrowing from different recipes. “I’m no cook, but I understand Filipino taste buds,” he
says. Seven months later Mang Inasal was breaking even and he’d even repaid his
father. From Iloilo he expanded into his hometown of Roxas City, opening the second
outlet. As Mang Inasal grew in the provinces, to 26 outlets, he enlisted Ferdinand, who
had graduated from law school, to take charge of operations. Sia focused on expanding
the chain’s reach, notably into Manila, which he refers to as “the make-or-break city.”
Mang Inasal’s 2006 debut in Manila was awkwardly timed as it was in the midst of a rice
shortage in the country. Sia’s response was to offer a value meal of grilled chicken and
unlimited rice for the equivalent of $2. This had already become an instant hit in Iloilo
and Manila’s budget-conscious crowd took to it, too. The all-you-can-eat campaign,
which was supposed to last two months, became a permanent item on the menu.
Today, Sia says, it’s their most popular product. Manila alone has over 100 Mang Inasal
outlets; 200,000 customers are served daily nationwide. Aiming to make his chain a
national brand, Sia hit the road. He spent a year visiting over 70 cities in all. “Today if
we want to expand somewhere, I can say I’ve been there,” he says. (Mang Inasal is
present in 68 cities.) To ramp up quickly, Mang Inasal took the less capital-intensive
franchising route. Sia offered franchisees a sweeter deal than his competitors, agreeing
to a lower fee and being flexible on letting franchisees use outside contractors for the
décor and fittings. Consequently, it cost $190,000 on average to set up an outlet, half
the cost of a Jollibee outlet, he claims. Unlike many fast-food chains, where about half
of all outlets are company owned, Mang Inasal owns only 8% of theirs. By 2009 Mang
Inasal was on a rapid rollout, adding 100 outlets a year. Today the Sia siblings are
aiming higher, with an eye on grabbing the No. 2 spot currently occupied by Jollibee-
owned Chowking. They plan to grow the chain to 500 outlets by next year. Sia, a father
of two, says that the family has put some of their newly acquired fortune to good use.
The Sias are building a church in Roxas City and recently donated $500,000 to a new
public college in Iloilo. “It’s our gift to the cities that embraced Mang Inasal and gave us
the confidence to take it places.