1.

Henry Sy (Shoe Mart) Shoe Mart, or SM for short, is one of the country’s retail behemoths, and far
more than just a mall. It is now a well-loved institution of which many Filipino families hold fond
memories. It provides a wide range of services, including shopping, theatres, locations for date nights,
parties and other special occasions, ice skating, and food courts. SM started modestly and from humble
beginnings, despite its now upmarket reputation. Henry Sy grew up in Jinjang, Xiamen, China, in a low-
income household. Due to the challenges in their home country, they moved to the Philippines in 1936 and
opened a tiny convenience shop in Manila. Shortly after, World War II broke out and ruined the family
business. Sy, on the other hand, continued to pursue his entrepreneurial interests by selling worn military
combat boots and other items to American soldiers. This is where the name “Shoe Mart” originates: it was
Manila’s first shoe store at the time. Despite being unable to find vendors that could make the shoes he
wanted, Sy persisted. Sy, who died in 2019 at the age of 94, was survived by his family. Sy’s legacy lives
on today in his many SM malls and other acquired businesses. As a result, he was one of the world’s
wealthiest men.

2. Tony Tan Caktiong (Jollibee Foods) The cheerful tagline “langhap sarap” – a
Jollibee trademark – is well-known among Filipinos. Tony Tan Caktiong, another Chinese
immigrant, is the brains behind this popular food chain. His family maintained a Chinese
restaurant in Manila at the time, which enabled him to finish college. He bought an ice cream
shop in 1975, but owing to low sales, he decided to add other items such as fried chicken, fries,
and burgers. Customers came to the store to buy his products after word spread in his area.
Caktiong was able to expand across the country after embracing the fast-food business model,
growing his humble restaurant into one of the Philippines’ most successful businesses.
Furthermore, by establishing a franchise, he has been able to break into the international market.
With over 2,500 outlets in the Philippines and locations in the United States, China, Saudi Arabia,
Vietnam, Singapore, Brunei and the UK, Jollibee is a fast-food behemoth.

3. Socorro Ramos (National Book Store) Socorro Ramos began her career in publishing and
retail as a salesgirl in a bookshop. With a capital of PHP200, she and her husband launched National Book
Store in Escolta at the age of 19, selling books and school supplies to children. The Japanese imposed
censorship on books and publications at the time, which included her burgeoning business. She and her
husband supplemented their income by selling other products such as candles and soaps. The Ramoses built
a nine-story structure along Avenida after the postwar boom brought increased revenue for the company.
Ramos adopted a hands-on approach to running her business, even designing the company’s logo herself.
The National Book Store now has around 3,000 employees. At the age of 98, Socorro Ramos is worth an
estimated USD 3.1 billion, making her one of the country’s richest people

4. John Gokongwei Jr. (J.G. Holdings) Born in China, John Gokongwei Jr. was the heir to
one of Cebu’s wealthiest families. When his father died, however, the family fortune evaporated and he had
to support his family by peddling goods from his bicycle in the streets of Cebu. He then began to trade by
boat and truck until he began importing from the United States. Seeing that low trade margins would
always limit his income, he switched focus to manufacturing. He borrowed PHP 500,000 from Chinabank
 to launch a maize milling company that is now known as Universal Corn Products. Although this business
venture was a success, he did not stop there. He began adding more goods, such as Blend 45, and soon
changed the name of his company to Universal Robina Corporation. Gokongwei died in 2019, aged 93. His
family is now one of the most successful Filipino business families and owns the Robina Land Corporation,
which owns Robinsons Supermarkets and Department Stores, as well as the commercial airline Cebu
Pacific. John Gokongwei Jr. overcame setbacks to ensure his success.

5. Edgar Sia (Mang Inasal) Edgar Sia, the brains behind Mang Inasal, is widely regarded as the
Philippines’ pioneer in limitless rice meals. Sia, who is native to Iloilo City, dropped out of college at the age of 19
to start his own laundry and photo-developing business. Sia, then 26 years old, decided to launch the fast-food
restaurant Mang Inasal – meaning “Mr Barbecue” in his native Hiligaynon – in 2003. In his hometown, the first
branch was erected in a mall parking lot. The restaurant was a huge success. Jollibee’s Tony Caktiong bought Mang
Inasal for PHP5 billion after hearing about Sia’s growing business. Sia invested the proceeds from the sale of Mang
Inasal into banking and healthcare. He is the country’s youngest billionaire, at the age of 42.

6. Mariano Que (Mercury Drug) Following WWII, Mariano Que discovered a commercial
opportunity. Que, who had worked at a local drugstore before the war, opened his own drugstore when he noticed
the demand for sulfa, a type of antibiotic used to treat bacterial illnesses. He began selling good-quality sulfa for a
low price. As a result, he was able to expand his clientele. In 1945, he founded the Mercury Drug chain of
pharmacies. Mercury Drug was named after the Roman god Mercury, who was known for his speed as well as for
originating the medical industry’s symbol, the caduceus. He helped the company grow over time, and it is today one
of the best-known drugstores in the country. Que’s knowledge of pharmaceutical principles propelled him to success

7. Cecilio Kwok Pedro (Lamoiyan Corporation) The story of Cecilio Kwok Pedro is a classic
example of Filipino entrepreneurial spirit overcoming the odds. Pedro was once the president of Aluminum
Container Inc., a company that made aluminium toothpaste tubes for Procter & Gamble, the Philippine Refining
Company (now Unilever), and Colgate-Palmolive. His clientele, however, switched to plastic-laminated toothpaste
tubes due to environmental concerns. Aluminum Container Inc. went out of business in 1986. Unabashed, Pedro
founded Lamoiyan Corporation and began producing toothpaste at a 50% discount to his competitors. Hapee and
Kutitap, two still-popular brands, were among them. Although overseas brands retaliated by decreasing their prices,
Pedro responded by launching a children’s toothpaste featuring Sesame Street characters. Pedro’s brands have
spread throughout Asia, including China, Vietnam, and Indonesia. Pedro’s ambitions aren’t limited to success in the
business world; he’s also known for his work helping hearing-impaired people find work in the United States. His
initiatives include providing free lodging for more than 30 deaf–mute employees. DEAF, or Deaf Evangelistic
Alliance Foundation, has provided college education for more than 180 hearing-impaired students to date .

8. Alfredo M Yao (Zest-O) Alfredo Yao’s father died when he was 12; his mother supported him
and his siblings by working as a street vendor. Yao was able to attend college at the Mapa Institute of Technology
thanks to the help of a family member, but did not complete it. Yao did a variety of odd jobs, including working at a
printing machine. He learned how to print cellophane wrapping for candy and biscuits during his time there, and was
inspired to create his own printing company as a result of his experiences. His printing company was thriving, but it
was his discovery of the Doy Packaging technique from Europe that really launched his career. He sought to market
the system to juice companies, but they showed little interest. Yao decided to start his own juice company, initially
concocting recipes in
Goldilocks

9. Milagros, Clarita, and Doris Leelin (Goldilocks) When Milagros, Clarita, and
Doris Leelin founded, it was a 70-square-metre Makati store with only two cake displays and ten employees. Sisters
Milagros and Clarita Leelin had a passion for baking and opened their first branch with the help of their sister-in-
law, Doris. Goldilocks debuted its franchising programme in 1991. The bakeshop franchise now has around 420
stores, with additional locations in the United States, Canada, and Southeast Asia. Goldilocks has grown from a PHP
66,000 start-up to a multi-million-dollar food company with over 4,000 workers.

10. Joe Magsaysay (Potato Corner) Potato Corner is a well-known food cart company in the United
States. It was founded in 1990 by Joe Magsaysay, who dropped out of school to work at a fast-food restaurant. He
was then offered the opportunity to become a manager; his store management abilities came in handy when he and a
friend decided to open Potato Corner. He went on to become one of the Philippines’ most successful businesspeople.

JOHN PATRICK ALVARADO

ELECTRICAL TECH. - 2A