Top 10 Successful

Entrepreneurs in the
Philippines Story
 1. Henry Sy, Shoe Mart
henry-sy SM is more than just a shopping mall. It is a beloved institution. Many of my favorite
memories happened in SM. From shopping, watching blockbuster movies, date night, ice skating to
food tripping, SM has it all.
However, this gigantic chain of more than 44 large-scale shopping centers in the Philippines and
throughout Asia has very humble beginnings.
Henry Sy came from an impoverished family in Jinjiang, a town near Xiamen, China. The entire family
left China in 1936 to help the family patriarch manage a thriving convenience store in Manila.
Unfortunately for the family, their store was burned down during World War II. However, business-
minded Henry saw an opportunity selling used military combat boots and other postwar goods from
supportive American soldiers!
His success led to the opening of his first shoe store, the SM in Avenida, Manila. Henry had problems
finding shoe manufacturers who could design shoes according to what he had in mind, but he
persisted. He spoke to customers and built his own network of suppliers and manufacturers.
That never-say-die attitude got Henry Sy to where he is now: one of the richest men in the world and
a world-class commercial center developer who provides opportunities to both entrepreneurs and the
working class!
2. Tony Tan Caktiong, Jollibee
tony-tan-caktiongIf you thought you only loved The Champ and Chicken Joy, then be
prepared to be inspired by the man behind the franchise.
Also coming from an immigrant family from China, Tony learned the value of hard work
and dedication from his father who worked as a cook in a Buddhist temple. Tony’s
father started a Chinese restaurant in Manila with his savings so he can send him to
college.
In 1975, Tony bought a Magnolia ice cream parlor. However, it was not generating
enough business. After talking with his customers and people within the
neighborhood, Tony decided to include sandwiches, fried chicken, and French fries in
the menu. In time, the restaurant found itself packed to overflowing capacity.
By 1978, Tony had opened six more restaurants, but the main item was no longer ice
cream. Tony then decided to adapt the McDonald’s concept and named his franchise
after his work ethic of being as “busy as a bee.”
Today Jollibee has grown to more than 2,500 stores in the Philippines plus locations in
the US, China, Saudi Arabia, Vietnam, Singapore, and Brunei.
 3. John Gokongwei Jr., JG
Holdings
john-gokongwei-jrJohn’s life story is a “rich-to-rags-to riches” story. John Jr. was born in
China to the scion of one of the wealthiest families in Cebu.
When the father died, so did the business and the family fortune was soon gone. John
Jr. supported his family by peddling items along the streets of Cebu by bike. Soon, he
was trading items by boat to Lucena City and to Manila by truck. Eventually, he started
importing items from the US.
John Jr. soon realized that importing carried too much risk and low margins. Thus, in
1957, he borrowed Php 500,000 from China Bank and started a corn milling business
named Universal Corn Products.
By 1961, Universal started diversifying its products and launched several popular
brands such as Blend 45. Universal Corn Products was renamed Universal Robina
Corporation.
Today, the Gokongwei family owns several successful and highly diversified
businesses. Among these are Robina Land Corporation and Cebu Pacific.
4. Socorro C. Ramos, National
Bookstore
socorro-ramos The next time you buy your batch of new school supplies and textbooks, do not forget
to thank Ms. Socorro C. Ramos!

Her story is a stuff for telenovela, and frankly, I’m surprised the networks and movie outfits have not
caught on. How’s this for a plot teaser?
Girl’s brother marries scion of a wealthy bookstore owner in Manila. The girl finds job as a saleslady at
18, meets and falls in love with the son of the owner; thus, he is technically her in-law! Their parents
forbid the relationship and sends the girl back to the province. However, their love is so strong, girl
and boy stand up to the parents, get married, and have twins.
The boy takes over a branch with the girl, and they renamed it in National Book Store. However, a war
breaks out, and the store is destroyed! They rebuild the store, but everything is held under suspicion
of being “questionable.” They relocate the store in Avenida, but as the business picks up, a storm
destroys their roof. Soon, they rebuild the store, and every centavo is used to build a nine-story
National Book Store.
The girl is Socorro and the boy is Jose. Today, National Bookstore has grown to over 100 stores.
Despite digital technology, it continues to flourish!
 5. Cecilio Kwok Pedro,
Lamoiyan Corporation
cecilio-kwok-pedroCecilio’s life is not a typical rags-to-riches story; instead, it embodies the
entrepreneurial spirit of overcoming seemingly insurmountable odds.
Cecilio used to head Aluminum Container Inc., which produced the aluminum toothpaste tubes for
Procter and Gamble, Philippine Refining Company (now Unilever), and Colgate-Palmolive. However,
environmental concerns led his clients to shift to plastic-laminated toothpaste tubes. Aluminum
Container Inc. failed and closed its shop in 1986.
He put up Lamoiyan Corporation and manufactured toothpaste that was priced 50% lower than his
competitors. These included the still-popular brands Hapee and Kutitap. Although the foreign brands
countered by lowering their brands by 20%, Cecilio responded by introducing toothpaste targeted for
children that featured the characters from Sesame Street.
Cecilio’s brands have made it to other markets in Asia, such as China, Vietnam, and Indonesia.
Cecilio’s greatest accomplishment was not limited to manufacturing. He is also known for his
advocacy to help hearing-impaired people find employment in the country.
His programs include free housing for more than 30 deaf–mute staffs. To date, more than 180
hearing-impaired students have received college education through DEAF or Deaf Evangelistic
Alliance Foundation.
 6. Mariano Que, Mercury
Drugstores
mariano-queMany of today’s entrepreneurs would learn the value of customer experience and innovation
through Mariano Que.
Like many of the entrepreneurs discussed so far, Mariano found opportunities for entrepreneurship after World
War 2. Mariano had been working in a local drugstore when the war destroyed several businesses in the city.
Mariano saw the need to supply sulfa drugs, which were used to treat bacterial infections. He started to buy
sulfa tablets and sold them at affordable prices. Soon, other people followed and adapted Mariano’s strategy.
However, only Mariano sold high-quality sulfa tablets, which ensured him a steady clientele. With his hard work
and dedication to build up savings, he was able to put up his first drug store in 1945, which he named Mercury
Drug. The Roman god Mercury is known for speed. He also carries the caduceus, which is a symbol in the
medical industry.
Mariano invested his earnings into the company and introduced many innovations in the service. Among these
innovations were a drug-delivery service to clients and locations that are open 24/7 because he knew people
would be needing medicines any time of the day.
By the time Mariano opened his second Mercury Drug at the newly constructed Ayala shopping center in Makati,
he had invested in technological innovations, such as biological refrigerators and computer-guided controls.
Mariano’s dedication to his business has allowed Mercury Drug into 700 stores and a widely recognized name
for quality pharmaceuticals.
 7. Alfredo M. Yao, Zest-O
alfredo-yaoThe next time you pass a vendor peddling goods on the street, keep in mind that he or she can be supporting the next Alfredo M.
Yao.
When Alfredo lost his dad at age 12, his mother was left to support him and his siblings by becoming a sidewalk vendor. A relative was able
to give financial aid, which allowed Alfredo to reach, but not complete, college at the Mapúa Institute of Technology.
Alfredo took several odd jobs, which included time at a printing press. During his stay there, Alfredo learned how to print cellophane
wrappers for candies and biscuits. His experience prompted him to start his own printing business.
His printing business was doing well. However, his discovery of the Doy Packaging system from Europe was the turning point of his
entrepreneurial career. He tried to sell the system to juice manufacturers, but no one was interested. Thus, Alfredo ventured into the juice
business by concocting flavors in his kitchen.
These juices were not only delicious but also appealing to parents as they found the light and brightly colored packs easy to include in their
children’s lunch boxes. Best of all, the packaging allowed the juice to stay chilled longer. Zest-O was born!
Today, Zest-O controls 80% of the juice market, and it has expanded to markets in Australia, China, New Zealand, Korea, Singapore, US, and
several countries in Europe. Alfredo’s entrepreneurial success has revitalized the juice region in the Philippines particularly farmers growing
dalandan. The Doy packs are also recycled by local cottage industries into handbags for export to other countries!
The boy who once faced the harsh realities of life now become a successful juice manufacturer. Alfredo has diversified his business
interests into airlines by acquiring Asian Spirit Airlines and renaming it as Zest Air.
Alfredo is now literally on top of the world!
 8. Corazon D. Ong, CDO
Foodsphere
corazon-dayro-ongCorazon represented the value of having passion in what you do as
a motivating factor in finding success as an entrepreneur.
Corazon was a dietitian by profession. She used her knowledge to create processed
meats that were affordable enough to compete with the popular foreign brands. She
developed corned beef, hamburger patties, meat loaf, and hotdogs, which were sold
purely as a home business.
By 1975, Corazon decided to scale her newfound business and established CDO
Foodsphere. The company’s reputation to develop high-quality but low-priced
processed meats quickly spread and made CDO a regular staple in every shopping
cart.
As a mother herself Corazon understood the value of having meals that can be
prepared easily, taste good, and fit the family budget.
In time, CDO expanded to industrial markets. Today, CDO supplies processed meats to
90% of quick service restaurants or QSRs in the country.
 9. Gregorio G. Sanchez Jr.,
LactoPAFI
engr-gregorio-g-sanchez-jrWhile working as a provincial board member in
Cebu, Gregorio noticed that pigs sold to market were apparently
malnourished.
He decided to look into the cause of malnutrition by doing research in his
spare time. Using only pots and pans in his home, Gregorio conducted
several tests and experiments on how to alleviate the state of malnutrition
of Cebu’s livestock.
Despite numerous failures, his persistence finally paid off. He discovered
the pigs were suffering from a type of bad bacteria. His solution was a
probiotic bacteria that would increase the level of good bacteria in the
body.
The bacteria would be called LactoPAFI Probiotic Bacteria. Gregorio’s
discovery would reach global acclaim as a leader in probiotics. It is now
exported to New Zealand, Norway, France, Australia, Hong Kong, Japan,
and US.
 10. Diosdado Banatao,
Computer Chips
diosdado-banataoDiosdado’s life story exhibits perseverance, hope, determination, and the power of
self-belief. The son of a farmer in Cagayan, Diosdado would walk barefoot just to complete his high
school education. His resilience made him a Magna Cum Laude graduate in electrical engineering.
His excellence in the academe paved the way for Diosdado to become a pilot-trainee at the
Philippines Airlines or PAL, which would eventually open doors for a design engineer position at
Boeing Co. The opportunity brought Diosdado to the US where he completed a master’s degree in
electrical engineering and computer science at Stanford University.
Diosdado’s experience working with the top technology companies led to his design of the first single-
chip 16-bit microprocessor calculator. By 1981, Diosdado was commissioned by Seeq Technologies
to assist the Ethernet to find an efficient way of linking computers. Disodado designed the single- chip
controller that provided data-link control and the transceiver in the first 10-bit Ethernet CMOS.
His success opened doors to build his own company, Monstroni, in 1985 and Chips and Technology,
which made US$ 12 million in the first quarter alone. By 1996, Diosdado sold Chips and Technology
to Intel for US$ 430 million!
Throughout his success, Diosdado never forgot his roots and Filipino heritage. He set up the Banatao
Filipino American Fund to lend support to Filipino American students in Northern California who aspire
to become electrical engineers.
The ones who succeed are the ones who persevere…
After reading these inspiring stories from our own
successful Filipino entrepreneurs, one quality easily
stands out among their many admirable traits; that is,
the quality of embracing failure as a necessity to
achieve long-term sustainable success.
These entrepreneurs went through so many adversities
and challenges in their lives. Truth be told, condensing
their life stories in paragraphs does not do them justice.
A better way to understand what they went through
would be by imagining how we would have felt or acted
if we were in the same situation.
Ask yourself:
1. What would you do if your business or only source of income
was destroyed like what happened to Henry Sy, Socorro Ramos,
and Mariano Que?
2. How would you react if you had lost everything you had gained
in a blink of an eye like what happened to John Gokongwei Jr. and
Cecilio Pedro?
3.How would you overcome the challenge of large-sized powerful
competitors as Corazon D. Ong and Cecilio Pedro faced?
4. What would you do if you woke up one morning and realized
you were living in extreme poverty as what Alfredo Yao, Tony Tan
Catkiong, and Diosdado Banatao experienced?