Quick Facts:

Full Name: Alfredo M. Yao

Title/Position:

Zest-O founder

Founder of Macay Holdings

Chairmanship of Semexo Marketing, Inc

Chairmanship of Philippine Business Bank

Chairmanship of Asia Wide Refreshments Corporation and AMY Holdings Inc,

President of Solmac Marketing, Inc, and SMI Development Corporation

Director for Export & Industry Bank

Birthday: November 23, 1943

Age: 79

Source of Wealth: soft drinks, self made

Residence: Manila, Philippines

Net Worth: $295 M

Parents: Soledad Macam, Chun Yao

Spouse:Linda Yao

Children: He has 3 children

Birth Order: Eldest among his 5 siblings

Education:
Country’s Juice King, Alfredo Yao didn’t get to finish his studies. With the support of a relative, he
completed his high school and elementary schooling. Despite being able to enroll in Mapua Institute
for his college education, he was unable to finish it because of financial obligations. Despite his
desire to complete school, he was unable to do so as, by the time he was eighteen, he was a fully
grown businessman. He made the decision to become highly knowledgeable in business since it pays
well.

Work History:
At twelve, he lost his father and took on the role of primary provider for the family. Yao worked at
many odd jobs to supplement his source of income. He has worked as a street seller and has slept
out on a cardboard box on the street. Yao also had a job in a packaging company's warehouse.

Brief Background of the business or businesses:

At the age of 17 he started a printing business with a Php 3 000 loan from what is known today as
Development Bank of the Philippines. He moved the printing and packaging industry to work in the
beverage sector. Yao got his start in the printing press by learning how to make printing wrappers
from a cousin who was employed by a printing company. This endeavor led to the establishment of
Solemar Commercial Press, which bears his mother's name.The business thrived for about 20 years.

1979, while on a business trip tour of Europe, he stumbled across a new way of packaging: Doypack,
a sealed bag made of plastic and aluminum that’s designed to stand upright. Seeing its potential, he
marketed it to local manufactures, but no one showed interest. Since he don’t want to let something
with this potential go to waste, in the 1980 the very first made Zest-O drink was made, he started
making his own juices in his kitchen packaged it using the doypacks he got from Europe. He decided
to venture into the packed juice business himself creating Zest-O in the process. His privately held
Zesto Corp., which he started with just $50, sells fruit juices, root beer and noodles worldwide. The
brand was not only a huge success in the Philippines, where it commanded more than 80% of the
local ready-to-drink market, but it also saw tremendous growth in other nations, including China and
the US.

Alfredo Yao continued to innovate and expand into new markets. Driven by innovation brought by
the changing times, Alfredo saw the huge potential and opportunity for growth in tourism sector
thus, he also venture into the airline industry through Zest Air.

Not content with Zest-O’s legacy, Yao branched out with firms such as Zest Airways (now Air Asia),
Philippine Business Bank, Asiawide Refreshments Corporation (RC Cola), Movenpick Resort & Spa
Boracay Island, Summit Hotel & Resort Specialist Inc., Macay Holdings Inc., Semexco Marketing, Inc.,
Solmac Marketing, Inc., Harman Foods Philippines Inc., and Amchem Marketing, Inc.

Innovations/products/services offered
As entrepreneur, Alfredo Yao has carved a name in Philippine business through his trailblazing
endeavors in various fields such as Printing and Packaging (Solemar Commercial Press), Food and
Beverage Manufacturing( Zest-O Corp), banking ( Philippine Business Bank), aviation/tourism (Zest
Air), real estate development (Summit Hotel and Resorts Specialist)

Type and Classifications of the Entrepreneur

With his determination to make something out of nothing, he was able to achieve beyond what he
could ever imagine. Yao is from a poor family and did not have any pre-existing business which made
him a founder and 1st generation entrepreneur.

Yao introduced the then-unknown "Doypacks" packaging innovation to the Philippines in 1979. Food
manufacturers were uninterested in the technology, so Yao had to prepare the juice himself in order
to use the machine.

He is very adaptive entrepreneur, for the 79-year-old businessman, embracing new technologies is
nothing new; it has been a defining characteristic of his more than forty years as an industrialist. In
actuality, it was his adaptation of technology that made Zest-O Corp., his first significant commercial
endeavor, the market leader it is today in the ready-to-drink juice category.
Alfredo Yao also integrate their personal social responsibility to corporate responsibility. He don’t
forget to thank and give back to various individuals who have helped him along his road to success,
he decided to pay it forward by giving assistance and help to those in need. Aside from creating
scholarship foundations for deserving young people who want to make a difference through
education, He extended his unwavering support to social and civic institutions such as Mother Earth,
Maraming Bayani (Many Heroes) Foundation, Gawad Kalinga (Gift of Care), Operations Smile, among
many others. Also To foster sustainable living among marginalized sectors, his company turns over
used doy Zesto packs to Gawad Kalinga, enabling the organization to provide employment to the
depressed communities by having them use these waste materials in the manufacture of attractive
bags which are to be sold in the public. Zest Air also sells this merchandise in their ticketing offices
and as part of their in-flight merchandise selection. Proceeds from the sales of these goods go to
Maraming Bayani Foundation, which also distributes these products.

Entrepreneurial Competencies
 One of the most resilient businessmen in the Philippines, he was born to the simplest of
families. He lost his father at the age of 12 and became a breadwinner. Due to his
persistence and his greed to seek for opportunities he became one of the most successful
businessmen in the Philippines.
 He is also very committed to work contract. Base on one of his interview he said that “If I
promise somebody that I will pay you on Friday, I’ll make sure that by Friday I will pay you.
That’s how I started my credit line.”
 Yao, in his every venture he sets goal and make sure he have a systematic planning &
Monitoring. He speaks openly about his rise to the top, his vision for his growing empire, and
his plans in helping in the advancement of the tourism industry. For example he sets his
vision for Zest Air which is according to him, “My vision for Zest Air is to become the most
refreshing airline of choice, providing world-class service to our customers whom we see as
the essence of our operations. Zest Air will reflect our support and unwavering commitment
to satisfy our customers and make a difference through industry innovativeness and
professionalism, paving the way for social development and as a vessel of Corporate Social
Responsibility”.
 Persuasion and Networking, when asked about his key elements to his success he shared
that having the right people working with him to develop and sustain the business. He also
added that to be able to provide employment for all his people from the different companies
and to help develop their talents are also sources of pride. These achievements actually
serve as a beacon for him to accomplish more goals and do better with every endeavor that
he undertake
 Having a self confidence is also beneficial. According to Alfredo Yao “In a very competitive
world nowadays, you don’t know what will happen to you. But if you’re confident in
yourself, that [will] lessen your fear.”

Quotes
“Credibility is built, not given. Respect is earned, not bought”
“Times have changed because of technology. The speed of technology has changed things in the
business but we have to adapt, and change, too”

“Handwork, perseverance and foresight, plus having the right people working with me to develop
and sustain the business are key elements to my success”

“I wanted to have my business to change my life, to improve my life. The way I saw it, I couldn’t
improve my life by working for someone else,”

Achievements:
His most notable awards include the Ernst & Young 2005 Master Entrepreneur of the Year Award,
the Most Admired Asian Enterprise Award for Innovation Category given by the Singapore Business
Federation, and most recently, one of the recipients of the 7th Annual Tourism Awards given by the
Tourism Committee of Rotary Club Manila.

Reflections
A dreamer admires a dreamer. Alfredo M. Yao who’s known as the man behind Zest-O.
Behind those drinks we love and became part of our childhood is a man who once got nothing. He
grew up in extreme poverty and had difficulty finishing elementary and high school, but he
overcame these obstacles to achieve success in life.

He described the experience during the early years as a day-to-day struggle. In an interview
he said that he vividly remembers the night he asked for the money. “My mom was telling me,
‘Anak, itong tatlong libo, buhay na natin.’ (Son, this P3,000 is our whole life.) I said, ‘I’ll try. I’ll do my
best.’” Indeed, Alfredo Yao’s life wasn’t an easy one. However, he didn’t let this hinder to his road to
success. A dreamer is now a millionaire.

While researching about him I can say that Yao embodied lots of characteristics of a good
entrepreneur. He recognizes and utilizes opportunity, not scared and faces risks and
change/innovation, committed to his goal and business, quality oriented and values people. But
there’s two characteristics that I believe describes him the most among these. It’s his love for
innovation and valuing people. Yao has never shied away from innovations. Although Zest-O
Corporation, his beverage company, was gradually making a name for itself in the juice industry, he
was already considering other possible ventures. He established Zest Airways in 2008 in an effort to
take on the nation's other low-cost carriers. In addition, I believe that employees/ the people are the
greatest asset a business can have. I’m overjoyed that Alfredo Yao also believe with this. He always
mentions them when someone ask what is his key elements to success. According to him having the
right people working with him to develop and sustain the business is the key elements to his success.

Alfredo M. Yao, one of the most resilient businessmen in the Philippines, he has established
his reputation through diligence, determination, and a persistent pursuit for better ways for
achieving objectives. He achieved beyond what he could have imagined thanks to his unwavering
will to make something out of nothing. He learned a valuable lesson in life to always work hard and
never lose hope.

Hope, the entrepreneurs hold for hope is what I believe they have in common. While reading stories
about them my love for the word hope ascends. All of them may have different experience and
stories in reaching their success but while in the process they never lose hope. Being entrepreneurs
means embracing the risk that’s true, but they are determined and believe with themselves. This
believed will be achieved one day.

References

Baluyos, M. (2022, March 18) Yao: The man behind Zest-O, breadwinner at 12.
https://sugbo.ph/2022/alfredo-yao-zest-o/?
fbclid=IwAR0YHLXvIQ0t68HKnIhgjqEZ1dK64hnT3dwEhc2s1p8Zl6sN7m0n42iO_3A#google_vignette

Litton, J. (2011, July 4) Leading the way to innovation and change.

https://www.google.com/amp/s/www.philstar.com/business/business-as-usual/
2011/07/04/702006/leading-way-innovation-and-change/amp/

Orellana, J. (2015, October 8) Alfredo Yao: His business genius came from within, not from school.
ttps://primer.com.ph/business/success-story-of-alfredo-yao-the-juice-king/#:~:text=He%20started
%20a%20printing%20business,fledged%20businessman%20by%20age%2018

Success Story of Alfredo Yao: The Juice King (2017, June 19)
https://primer.com.ph/business/success-story-of-alfredo-yao-the-juice-king/?
fbclid=IwAR2nG5Cp3DI5J--DrkD5zQ-WZq--0Yba5oQCYzaePlynNUMpNjnA2xJgSWQ#:~:text=He
%20started%20a%20printing%20business,fledged%20businessman%20by%20age%2018

Profile Alfredo Yao. (n.d.). Retrieved from https://www.forbes.com/profile/alfredo-yao/?

sh=e15b4d718222&fbclid=IwAR0aSeVlJLG5N7rJDMEVpbox1zXNeATfx63Y49FC_gseMQ1M6m_DA35-
JHs

Alfred Yao: The Juice King of the Philippines (2019, February 2) ttps://dailyguardian.com.ph/alfred-
yao-the-juice-king-of-the-philippines/

Praise be to the man whose product can be found in millions of lunch boxes nationwide: Alfred Yao.
President of Zest-O Corporation, Yao started the business of packed juices and turned it into a food
and beverage giant.

His business venture – like most people in this list – was not all paved with instant success, as his
revolutionary “doy” packs, a new way of packaging, were turned down by many juice manufacturers.
Unable to find market for his technology he decided to venture into the packed juice business
himself creating Zest-O in the process. Not only did the brand become a successful venture in Planet
Philippines as it controlled over 80 percent of the local ready-to-drink industry, market in other
countries from China to the United States have swelled.

Because of his success, Yao was able to diversify into the aviation industry buying carrier Asian Spirit
and naming it Zest Air in the process.

Yao was born on 26 November 1943. After losing his father at age 12, Yao began working to support
his family since his mother's earnings as a sidewalk vendor could not support their needs. He
attended the Mapua Institute of Technology but later dropped out due to financial problems

https://www.forbes.com/profile/alfredo-yao/?sh=1aedd32c1822

Alfredo Yao is the founder of Macay Holdings, a maker and distributor of carbonated soft drinks.

His privately held Zesto Corp., which he started with just $50, sells fruit juices, root beer and noodles
worldwide.

Yao also owns a majority stake in the Philippine Business Bank.

In August 2020, Macay acquired Artemisplus Express (Kitchen City), a domestic food-service
provider, for 2 billion pesos ($41 million).

When he was 17, Yao opened a printing press business for packaging with the help of his mother; he
named it Solemar, after his mother, Soledad