Andrew Tan THE NEW BILLIONAIRE ON THE BLOCK

MANILA,(STAR) By Wilson Lee Flores - One of the most inspiring new “rags-to-riches”
billionaires of Southeast Asia is Andrew Tan of Alliance Global Group, Inc., the new multi-
billion peso holding company for his three major businesses – condominium-developer
Megaworld, the world’s biggest brandy producer Emperador Distillers, Inc. and a HUGE
percentage on shareholdings in the nationwide Philippine franchise of McDonald’s fastfood
chain.

The latest 2007 issue of Forbes magazine lists Tan as the country’s fourth wealthiest billionaire after the
Zobel-Ayala clan, Henry Sy of the SM Group and Banco de Oro, and Lucio Tan of Philippine Airlines and
Philippine National Bank. Forbes estimated Tan’s personal net worth at $1.1 billion dollars.

It is difficult to believe that authentic “rags-to-riches” sagas built on honest hard work still happen in this
modern and complex world. The son of poor immigrants from Fujian province, south China and himself
born overseas, Andrew Tan grew up in downtown Manila dreaming of someday owning a store or small
business like many of his peers’ families. As a child in Hong Kong, he and his family used to share a
tenement apartment with four other families, with only one bathroom and one concrete table for all the
tenant families’ cooking stoves. Tan recalls the apartment owner even leased out the corridor to another
family.

The young Andrew studied accounting and graduated with honors at the University of the East, often
preferring to walk to school instead of riding public jeepneys in order to save money. Engineer Conrado
Acedillo, himself a self-made man in the air-conditioning business, recalls that he and the younger Tan
used to be employees of taipan Leonardo Ty of Union Hitachi, Ajinomoto and other businesses. He
remembers Andrew Tan as one of the most hardworking and conscientious employees of the late
Leonardo Ty.

Megaworld and Empire East as biggest condo developers

Both still in their fifties, fellow billionaire and realty developer, Senate president Manuel “Manny” Villar Jr.,
acknowledges Andrew Tan as the undisputed No. 1 condominium developer in the Philippines,
surpassing even the old-rich landed clan of the Zobel-Ayalas.

Starting from a residential condominium in Greenhills, San Juan not so long ago, Megaworld and its sister
firm Empire East Holdings, Inc. have become trendsetters in large-scale office, residential and other real
estate development projects. Tan made a name for himself by redeveloping a former textile mill complex
in Libis, Quezon City into the commercial, office, shopping, entertainment and residential enclave known
as Eastwood City today.
After the success of Eastwood City, some of his many other urban renewal mega projects in Metro Manila
include the City Place complex in Binondo, Manila; the 25-hectare Newport City complex beside the
Villamor Golf Course; and the Manhattan Garden City complex at the Araneta Center, Cubao, Quezon
City.

Near the existing Makati financial district and next door to the Fort Bonifacio development of Ayala Land,
Inc. and the Jose Yao Campos family’s Greenfields Group, Andrew Tan’s Megaworld is developing the
50-hectare McKinley Hill new township. Megaworld is also a leader in the call centers and BPO
businesses in the Philippines.

The world’s No. 1 largest-selling brandy

One of the amazing accomplishments of the self-made businessman is his unexpected success in
making his homegrown Emperador Brandy into the world’s largest-selling brandy in terms of total number
of bottles sold in 2006. This was revealed in a recent issue of Drinks International, a UK-based
publication that covers the world liquor industry. Tan’s firm sold 7.2 million nine-liter cases of brandy last
year, and plans to soon expand into Thailand and the vast China market.

For years, Andrew Tan has kept this business operation under the radar from his more established
competitors such as Ginebra San Miguel of the San Miguel group and Tanduay Rhum of the Lucio Tan
group, both liquor brands which have been in existence since the 19th century and iconic brand names
throughout Philippine history.

How did Andrew Tan make Emperador brandy and his newer Generoso brandy top brands, poised to
soon even outsell the gin and rum liquors in the vast but highly-competitive Philippine hard drinks market?
Alliance Global Group, Inc. president Kingson Sian, a graduate of the University of Chicago, explains that
Andrew Tan instructed the advertising firms to undertake a totally innovative campaign which shall focus
on the concept of “success.”

Instead of following the other liquor brands with their age-old strategy of producing TV and other ads
focusing on sexy women and sexy images, Tan wanted the Emperador brand to connote success and all
values associated with it such as hard work, drive, ambition, listening to parents’ advice, professionalism
and ambition. It was also Tan’s idea to have people wearing only coats and suits in all TV and other
commercials of the Emperador brand.

Unknown to most people, when the 1997 Asian financial crisis hit numerous real estate companies
throughout Asia, the efficient, fast-growing yet low-key liquor operations of Emperador brandy helped
continuously generate the crucial cash flows which kept the Megaworld and Empire East realty firms
afloat. Only with the recent public listing of the stocks of Alliance Global Group, Inc. and its acquisition of
Emperador Distillers, Inc., did Tan finally reveal the astounding business success and huge sales of his
liquor venture.

Alliance Global Group Inc. said it is targeting consolidated revenues of P25 billion in 2007, which
represents a 184 percent jump over the P8.8 billion the same firm posted in 2006. In the first half of 2007,
the consolidated revenues of Alliance Global rose 254 percent to P12.4 billion and net income increased
to P1.23 billion, or representing a 445 percent increase compared to the previous year.

The position of the Philippines’ No. 1 wealthiest billionaire has been changing in the last three annual
listings of Forbes magazine, with tobacco king Lucio Tan once being in first place for years, replaced last
year by shopping mall king Henry Sy and now the Zobels gaining the top position this year. Based on this
flux in the wealthiest roster and in the fast-changing business landscape of the Philippines, it wouldn’t be
surprising if the driven, passionate and visionary self-made taipan Andrew Tan would someday become
No. 1, and prove himself the new king of the pack.
Andrew Tan's BIOGRAPHY

Andrew L. Tan is a Filipino billionaire who engages in real estate, liquor and fast food. In 2011,Forbes Magazine rated him fourth on the list
of the "Philippines 40 richest" with an estimated net worth of $2 billion from last year's $1.2 billion.

he studied accounting at University of the East. For economic reasons, he would head to school walking rather than riding on public
transportation. He then graduated.
During his early years in business, the government of Quezon City honored him "Businessman of the Year" .

Megaworld Corporation - A real estate corporation engaged in developing condominiums.

the "best managed company" and the "best in corporate governance" in the Philippines
Founder, Chairman of the Board, Principal Executive Officer, President, Director of Eastwood Cyber One Corporation, Director of Megaworld
Globus Asia Inc and Director of Megaworld Land Inc, Megaworld Corp.

Mr. Andrew L. Tan serves as President of Richmonde Hotel Group International Limited. Mr. Tan serves as Chief Executive Officer of
Alliance Global Group Inc. He founded Megaworld Corp. in 1989 and has been its Chief Executive Officer.

He serves as Principal Executive Officer of Empire East Land Holdings Inc. and President of Megaworld Foundation Inc.

it was a simple dream that allowed Andrew L. Tan

to soar at great heights.

The self-made tycoon, who recently landed on the

fourth spot of the prestigious list of Forbes’ richest
Filipinos with a net worth of US$2 billion, reveals
that all he ever wanted then was to just have a small
grocery store.
Building an empire
“While I was in college, the families of some of my
But fate seemed to have a different plan for this classmates owned textile stores, others hardware
property tycoon, whose conglomerate now spans
across various industries—real estate, food and
beverage, quick service and tourism and gaming.
Tan has built, through “hardwork and brand
building,” an impressive portfolio through the
Alliance Global Group that include Megaworld
Corp., Travellers International Hotel Group Inc.,
Emperador Distillers Inc., Golden Arches
Development Corp., Empire East Land Holdings
Inc. and Suntrust Properties Inc.
While Tan himself is a “shy billionaire” who has
always chosen to stay away from the limelight, his
outstanding successes, of course, did not go
unnoticed.
Property consultants CB Richard Ellis Philippines
and Colliers International, named the Tan-led
Megaworld as the Philippines’ top residential
condominium developer in more than a decade, and
the country’s biggest builder of residential
condominium in terms of units completed in 2010,
respectively.
Tough choice
But these did not come easy for Tan, who started
working for others as a marketing executive.
“Business was tough when I started my first
company. When you don’t have much capital, it is
paramount that you exercise your nose a lot, much
like a dog that never ceases to sniff out for food.
You cannot afford to fail and lose vital resources.
That is how you develop an instinct for success,”
Tan relates.
He reveals that two weeks after they launched the
first Megaworld project in 1989, the bloodiest coup
threatened the Cory Aquino administration.
“Considering that Megaworld then was a start-up,
the decision to pursue this project was one of the
toughest I made,” Tan notes.
“The Asian financial crisis in 1997 also tested me
stores. My dream then was to own and operate a
small grocery store,” Tan says in an exclusive
interview with Inquirer Property.
In fact, his father, who was a humble worker at a
transistor radio factory and the sole breadwinner of
the family, only wanted Tan to “study hard and be
like the people” who wear barong Tagalog and work
for the banks along old Escolta.
HARDWORK and brand building were Tan’s tools to
success.
Important lessons
“My experience of this crisis will be important
lessons to my children in the future,” he adds.
Tan shares that his recipe for success was simple:
“Do not expect everything to turn out the way you
want it to. Be ready for disappointments. You should
have extra bullets left to help you fight another
battle.”
“My philosophy as a businessman is really quite
simple: Just keep working and investing whatever
profit you make in new businesses. That way, you
generate more jobs and help the country’s economy
grow,” he explains.
Tan reveals that he spends most of his time working
and for that reason, he notes that he doesn’t get to
spend money that much.
“After all, you also need time to spend your money,”
he adds.
and Megaworld a lot. The crisis especially
threatened the real estate industry. Banks were very
averse to lending. We were able to overcome this
and come out stronger by being innovative.
Megaworld launched Eastwood City, our first
integrated township project with the live-work-play
mantra, in the late 1990s,” he explains.
Today, Eastwood City is what Tan now considered
as the “epitome of a successful development:
Eastwood City Cyberpark has been named as the
No. 1 IT park and counts more than 40,000
employees, while our condo residents enjoy living
here, and shoppers love visiting our new Eastwood
Mall. Aside from that, we also have the new
Eastwood Richmonde Hotel for business and leisure
travelers.”
Successful Entrepreneur: Andrew Tan "rags to riches"
Hands-on management
According to Tan, he is hands on with his
businesses, particularly those involved in the real
estate industry. He says he devotes a lot of his time
running the company’s day-to-day operations.
Indeed, Tan has already gone far from his dream of
owning a small grocery store, to earning the highest
honor the Republic of the Philippines accords any
Filipino or foreign national.
And yet, nothing seems to stop Tan from expanding
and further building more structures, particularly
residential developments and BPO offices.
In particular, Megaworld has been reported to be
developing more than 40 residential projects and
several BPO offices in Metro Manila, with 11
projects to be launched within the first half of 2012.
Last year, Megaworld has unveiled eight new
projects, namely: One Eastwood Avenue, 101
Newport Boulevard, One Uptown Residence,
Manhattan Heights Tower 2, Viceroy Tower 1,
Greenbelt Hamilton and Belmont Luxury Hotel in
Metro Manila. Megaworld has also launched its first
project in Cebu called 8 Newtown Boulevard.
“Real estate is the industry that’s closest to my heart.
I wake up every morning with a feeling of
excitement, knowing that I will be building more
homes and helping more Filipinos realize their
dreams of owning a home,” Tan concludes.
 One of the most inspiring new “rags-to-riches” billionaires of
Southeast Asia is Andrew Tan of Alliance Global Group, Inc., the new multi-billion peso holding company for his three
major businesses – condominium-developer Megaworld, the world’s biggest brandy producer Emperador Distillers,
Inc. and 49 percent shareholdings in the nationwide Philippine franchise of McDonald’s fastfood chain.

The latest 2007 issue of Forbes magazine lists Tan as the country’s fourth wealthiest billionaire after the Zobel-Ayala
clan, Henry Sy of the SM Group and Banco de Oro, and Lucio Tan of Philippine Airlines and Philippine National
Bank. Forbes estimated Tan’s personal net worth at $1.1 billion dollars.

It is difficult to believe that authentic “rags-to-riches” sagas built on honest hard work still happen in this modern and
complex world. The son of poor immigrants from Fujian province, south China and himself born overseas, Andrew
Tan grew up in downtown Manila dreaming of someday owning a store or small business like many of his peers’
families. As a child in Hong Kong, he and his family used to share a tenement apartment with four other families, with
only one bathroom and one concrete table for all the tenant families’ cooking stoves. Tan recalls the apartment owner
even leased out the corridor to another family.

The young Andrew studied accounting and graduated with honors at the University of the East, often preferring to
walk to school instead of riding public jeepneys in order to save money. Engineer Conrado Acedillo, himself a self-
made man in the air-conditioning business, recalls that he and the younger Tan used to be employees of taipan
Leonardo Ty of Union Hitachi, Ajinomoto and other businesses. He remembers Andrew Tan as one of the most
hardworking and conscientious employees of the late Leonardo Ty.
Megaworld and Empire East as biggest condo developers
Both still in their fifties, fellow billionaire and realty developer, Senate president Manuel “Manny” Villar Jr.,
acknowledges Andrew Tan as the undisputed No. 1 condominium developer in the Philippines, surpassing even the
old-rich landed clan of the Zobel-Ayalas.

Starting from a residential condominium in Greenhills, San Juan not so long ago, Megaworld and its sister firm
Empire East Holdings, Inc. have become trendsetters in large-scale office, residential and other real estate
development projects. Tan made a name for himself by redeveloping a former textile mill complex in Libis, Quezon
City into the commercial, office, shopping, entertainment and residential enclave known as Eastwood City today.

After the success of Eastwood City, some of his many other urban renewal mega projects in Metro Manila include the
City Place complex in Binondo, Manila; the 25-hectare Newport City complex beside the Villamor Golf Course; and
the Manhattan Garden City complex at the Araneta Center, Cubao, Quezon City.
Near the existing Makati financial district and next door to the Fort Bonifacio development of Ayala Land, Inc. and the
Jose Yao Campos family’s Greenfields Group, Andrew Tan’s Megaworld is developing the 50-hectare McKinley Hill
new township. Megaworld is also a leader in the call centers and BPO businesses in the Philippines.

The world’s No. 1 largest-selling brandy

One of the amazing accomplishments of the self-made businessman is his unexpected success in making his
homegrown Emperador Brandy into the world’s largest-selling brandy in terms of total number of bottles sold in 2006.
This was revealed in a recent issue of Drinks International, a UK-based publication that covers the world liquor
industry. Tan’s firm sold 7.2 million nine-liter cases of brandy last year, and plans to soon expand into Thailand and
the vast China market.
For years, Andrew Tan has kept this business operation under the radar from his more established competitors such
as Ginebra San Miguel of the San Miguel group and Tanduay Rhum of the Lucio Tan group, both liquor brands which
have been in existence since the 19th century and iconic brand names throughout Philippine history.

How did Andrew Tan make Emperador brandy and his newer Generoso brandy top brands, poised to soon even
outsell the gin and rum liquors in the vast but highly-competitive Philippine hard drinks market? Alliance Global
Group, Inc. president Kingson Sian, a graduate of the University of Chicago, explains that Andrew Tan instructed the
advertising firms to undertake a totally innovative campaign which shall focus on the concept of “success.”

Instead of following the other liquor brands with their age-old strategy of producing TV and other ads focusing on
sexy women and sexy images, Tan wanted the Emperador brand to connote success and all values associated with it
such as hard work, drive, ambition, listening to parents’ advice, professionalism and ambition. It was also Tan’s idea
to have people wearing only coats and suits in all TV and other commercials of the Emperador brand.

Unknown to most people, when the 1997 Asian financial crisis hit numerous real estate companies throughout Asia,
the efficient, fast-growing yet low-key liquor operations of Emperador brandy helped continuously generate the crucial
cash flows which kept the Megaworld and Empire East realty firms afloat. Only with the recent public listing of the
stocks of Alliance Global Group, Inc. and its acquisition of Emperador Distillers, Inc., did Tan finally reveal the
astounding business success and huge sales of his liquor venture.

Alliance Global Group Inc. said it is targeting consolidated revenues of P25 billion in 2007, which represents a 184
percent jump over the P8.8 billion the same firm posted in 2006. In the first half of 2007, the consolidated revenues of
Alliance Global rose 254 percent to P12.4 billion and net income increased to P1.23 billion, or representing a 445
percent increase compared to the previous year.
The position of the Philippines’ No. 1 wealthiest billionaire has been changing in the last three annual listings of
Forbes magazine, with tobacco king Lucio Tan once being in first place for years, replaced last year by shopping mall
 king Henry Sy and now the Zobels gaining the top position this year. Based on this flux in the wealthiest roster and in
the fast-changing business landscape of the Philippines, it wouldn’t be surprising if the driven, passionate and
visionary self-made taipan Andrew Tan would someday become No. 1, and prove himself the new king of the pack.

Andrew L. Tan (traditional Chinese: 吳聰滿; simplified Chinese: 吴聪满)[1]is a Chinese

Filipino billionaire with business interests in real estate, liquorand fast food. In 2011, Forbes
Magazine rated him fourth on the list of the "Philippines 40 richest" with an estimated net worth of $2
billion.[2] As of May 2014 he is estimated to have a personal fortune of over $5billion dollars and
ranks 3rd in the country.

Originally an immigrant from China, Tan was born in the Fujian province. He spent his childhood at
an apartment inHong Kong which was shared by other families. Later, he moved to Manila where he
studied accounting at University of the East.[3]

Contents
[hide]

 1 Companies
 2 Recognitions
 3 References
 4 External links

Companies[edit]
The Emperador Brandy.

Tan runs the Alliance Global Group Inc. (AGI).[4] It is composed of three companies:

 Megaworld Corporation – A real estate corporation engaged in developing condominiums.[3] It

has subsidiaries called Empire East and Suntrust Properties. It was dubbed by Finance Asia, a
business tabloid, as the "best managed company" and the "best in corporate governance" in the
Philippines for 2006.[5]
 Emperador Distillers Incorporation – Best known for its Emperador Brandy which became the
world's best-selling brandy in 2006. What made it successful was how it was promoted. Instead
of following other liquor advertisements that feature attractive women and other dainty images,
the ads of Emperador Brandy emphasize successes in life and moral values.[3]
 Golden Arches Development Corporation – Operates McDonald's franchises.[5][6]

Andrew Tan: The tycoon in blue jeans

By Millet M. Mananquil (The Philippine Star) | Updated July 21, 2013 - 12:00am
His must-haves are barley for breakfast, a karaoke machine and reading materials at night

MANILA, Philippines - He wears a simple white shirt tucked in blue jeans. Looking slim and hip, he walks in the
lobby of W Singapore Hotel with a smile. Could this be same real estate, liquor and fastfood tycoon
whom Forbes Magazine ranked as the fourth in the Philippines’ 40 richest? He doesn’t even have a visible
bodyguard.

Andrew Tan’s success story is inspiring. Born in Fujian, his childhood years were spent in an apartment in
Hong Kong shared with other families. This son of a factory worker did odd jobs to support himself through
college, often walking to UE where he studied accounting, for lack of transport money. As a kitchen appliance
salesman, he was able to save enough earnings to buy a distillery that brought him fortune. His Emperador
Brandy became the world’s bestselling brandy not by featuring sexy women in its ads, but by putting emphasis
on values and success in life.

At the wedding reception, I boldly approach him for a quick interview, and though most guests are obviously
hoping to have a handshake and photo op with him, the 60-year-old tycoon gladly obliges.

PHILIPPINE STAR: You look younger than your age. What is your beauty secret?

ANDREW TAN: (Laughs). I swim every other day. That’s my exercise. Maybe it also helps that I’m often in
Singapore which is a very clean and orderly place with a lot of greenery.

Do you follow a diet?

 Lifestyle Feature ( Article MRec ), pagematch: 1, sectionmatch:

I eat mostly vegetables and fish.

What is your favorite fish? Do you eat tuyo?

Yes, but my favorite fish is — oh, I forgot the name — a long, flat kind of fish.

What do you usually have for breakfast?

Every morning, I take barley boiled in water.

What time do you usually wake up?

I wake up at 5 a.m. And the first thing I do is read.

What time is bedtime?

I sleep at 11 p.m. And the last thing I do before sleeping? I also read.

How do you de-stress from work?

Massage is very important for relaxing.

Your wife Katherine says you also relax by singing, which you love, And that you’re a very good singer.

That’s true, yes. That I love to sing.

What is it that makes you happy ? You look always happy.

I feel happy when I look at my grandson who is 10 months old. That relaxes me.

What is your wedding wish for your son Kevin?

I wish Kevin would have lots of children — or at least follow my footseps and have four children.

You wife Katherine looks young and pretty as well. Does she have a beauty secret too?

Maybe I don’t give her a lot of problems.

 Mr. Andrew Tan flanked by some of the brands that have made him a success story

He is one of the Philippines’ richest men (4th in the Forbes 2007 list of the Philippines’ 40
Richest, estimated wealth at $1.1 billion) yet he is probably the most low-profile.

Little is known about Andrew L. Tan, yet children of all ages know one of his businesses only
too well: his Alliance Global Group Inc. owns 49 percent of Golden Arches Devt. Corp.,
franchise holder of the McDonald’s hamburger chain in the country.

His real estate group under Megaworld owns over 200 buildings (defined as four stories and
above).

Born of humble beginnings, he was the son of a transistor radio factory worker who came to
Manila from China at age 16. Tan has a brilliant mind—graduated magna cum laude with
degree in Business Administration from the University of the East. (Mr. Tan graduated from
UE in 1974.—Ed.) This despite the fact that he used to walk from Sta. Cruz in Manila to the
UE campus because he had no money. People who work with him attest to his brilliance but
at the same time describe him as extremely shy.

He owns Emperador Distillers Inc., makers of Emperador Brandy, the world’s largest selling
brandy by volume. But his first brand was Andy Player Special which is not being exported.
Tan agreed to answer several questions from the Inquirer:
Q: What were your beginnings? What was your first entrepreneurial venture?
A: I was about 25, and a bachelor, when I first went into business. I was a partner in a
wholesale trading firm that imported appliances in bulk and sold them to appliance stores.
How were you raised? Were your parents entrepreneurs? Who was and is the most
influential person in your life?
My father worked in a transistor radio factory; my mother was a housewife. I have one brother.
One influential person in my life was my mother. As a young businessman, I would consult her
before I made any important decisions. We discussed not just business matters, but also
anything under the sun. She and her guidance meant a lot to me.

When I married, my wife Katherine became the most influential person in my life. Today, we
talk about business almost every day, especially when I have to make important decisions.

In college, many of my classmates were better off than I. They had family businesses of their
own. Some owned a grocery shop, others a hardware store. Those in Quiapo ran a small
textile business. I was sort of envious of their fortune, so I dreamed of becoming a
businessman.

I often told my mother that if I had P200,000 in savings, I’d open a grocery store, and that
would surely change our fortune. She encouraged me a lot then.

When I started working, I discovered that you learn something from the people you meet. For
me, that’s always a blessing, more so if you meet the right people who can help you succeed.

Some people may disagree, but I believe that for a person to become very wealthy, 40
percent is due to luck and 60 percent to a combination of intelligence and hard work. You just
have to be at the right place at the right time. If you are lucky, timing will always be in your
favor; otherwise, timing will always be off. There’s a Chinese saying that big success depends
on the heavens. For me, good luck accounts for 40 percent of all my success.
What were some of the difficult times in your entrepreneurial life? How did you
overcome the difficulties?
Business was very tough when I started. When you don’t have much capital, it is imperative
that you have a very good nose. You are like a dog that must always sniff around for food.
You cannot afford to fail. That is how you develop an instinct for success.

This does not mean, however, that I always succeeded in my initial ventures. I failed in some
of them. I made wrong decisions, too, but I learned from my mistakes to become better and
better. After all, mistakes are always a part of doing business. Some people, however, give up
especially after a disastrous failure.
Thankfully, I never gave up. I always pushed on, no matter what. I tried and tried again even if
the business was in bad shape. You just pick up the pieces, and then get on your feet again.
Usually, people are fond of asking businessmen this question: When did you make your first
million? How did this accomplishment make you feel at that time?
I was lucky to have made my first million at 27. A million then was worth much, much more
than it is now. A new car cost about P40,000 then compared with P800,000 or P900,000
today. As such, P1 million then was equivalent to about P20 million now. Definitely a lot of
money! When I told my mom about my accomplishment, I believe I made her very, very
happy.
I’ve heard good things about your children. How did you raise them despite the wealth
that surrounded them? Are they all involved in business? Were they exposed to other
companies?
Since I’m in business, I naturally want my children to follow in my footsteps. I sincerely wish
they would become successful businessmen on their own—or a businesswoman in the case
of my youngest child.

You can say that my children were born with silver spoons in their mouths. That is an
advantage, I agree, but it could also be a disadvantage. When the going gets tough, people of
inherited wealth, who are brought up without any experience of hardships and difficulties, may
be wanting in resilience. It may be harder for them to get over a failure. In my case, I’ve had
more than my share of life’s challenges. Just like before, if I fail miserably, I will get up and try
to recover.

Another thing about being born in fortunate circumstances is that it may not give you that
much hunger for success—like a dog that doesn’t need to sniff around that much for food
since it’s always available. That is why aside from a good education, I give my children
nuggets of wisdom from the school of hard knocks. I find time to chat and share with them my
experiences. If they listen to me and remember what I tell them, if they take me seriously, that
will save them a lot of trouble in the future. As a father, I believe that talking to my children
and having open, honest dialogues with them is most important.
I always believe that if you want to excel at something, you must be genuinely interested in
what you’re doing. You must have a passion for it. Otherwise, success will elude you. As a
father, I believe my job is to make my children interested in the business. If they’re passionate
about it, they will put in the hard work without feeling stressed out.

I must point out that ours are publicly listed companies, and all are professionally managed.
We owe it to our stockholders to run our companies well. We’re a big operation, with
thousands of stockholders to answer to. I always keep in mind that we’re not running a family
business anymore, and I don’t force my children to work for me. Having said that, one of my
children is a middle manager; another is a junior manager. They report to their senior
managers, not to me.
What is your vision for Megaworld and how near are you in achieving that?
Today, I’m as passionate as ever about real estate in general and Megaworld in particular. I’m
a very hands-on businessman, and I devote a lot of my time running the company’s day-to-
day operations. Real estate is the industry that’s closest to my heart. It’s like the lifeblood that
runs in my veins. I wake up every morning with a feeling of excitement, knowing that I will be
building more homes and helping more Filipinos realize their dream of owning a home.

Our goal is to give Filipinos a good home and do our best to make it affordable by offering
good value for money, whether in the mid-income level or in the Triple A level, as in the case
of our ultra-luxurious One Central project in Makati.
I understand you have already been paying back society for your blessings. What are
some of thegood things you have been doing?
When you talk about giving back to society, the Megaworld Foundation, over the years, has
given hundreds of scholarship grants and contributed to many worthy causes, from helping
fight cancer to empowering the blind to supporting the La Mesa watershed conservation
campaign. Considering the good fortune that has come my way as a businessman, I honestly
feel that I want to do more.

Over the next few years, I will try to devote more of my time for philanthropic activities.
Currently, I find that corporate giving still runs along traditional lines. Many foundations and
companies are doing virtually the same thing. One of the things we’ll look into is how we can
apply business skills and strategies in the area of philanthropy, and how we can help people,
programs and causes in a more cost-efficient manner. I’m aware that it’s impossible for any
one foundation to do everything and help everyone, so I intend to look for a formula to help us
focus our efforts on one particular area that will give the most benefits to the greatest number
of people—in effect, achieve much more for our less fortunate countrymen.
What to you are the secrets of your success?
What are my secrets as a businessman? Well, I think one of my accomplishments is the
ability to feel the pulse of the market, and of people in general. If you want to succeed in
business, you must have developed this knack for knowing and understanding the market and
your customers, in order that you can provide the products and services that people will buy
again and again.

And it is not enough to know your market and your customers. You must also gain the same
mastery and understanding of your employees, suppliers, partners, associates, even your
banker and underwriter. If you have a good nose, a good sixth sense, you will be able to fit all
of them into your grand plan of success.
What are your passions and hobbies?
I’m a businessman, and my most intense passion is creating wealth, creating jobs and
creating value for our stockholders. I also swim when I have the chance; I go to the gym and
run the treadmill given the opportunity. These are the activities that I do at my own time and at
my own pace.
What to you would be the key to achieving a progressive Philippines?
Ten years ago, the business process outsourcing (BPO) industry was unheard of here in the
country. But we at Megaworld saw an opportunity: We established Eastwood City CyberPark
as the country’s first IT park. We worked with the government, the private sector and would-be
locators. We all worked together to promote the BPO business in the country.

From a very negligible number of employees then, the BPO industry as a whole today
employs more than 300,000 people and generates about $5 billion in annual export revenue,
based on the latest available data. These figures are projected to go up to 1 million
employees and $12 billion in revenues by 2010.

I have observed that we Filipinos have two distinct advantages: our excellent English
language skills and the friendly tone of our voice. I thought this was one area where we could
excel in.

True enough, foreign customers like speaking to our call center agents. We Filipinos have a
naturally pleasant voice, so Americans tend to spend more time talking on the phone. Even if
they’re calling from thousands of miles away, they can somehow feel the friendliness,
dedication and patience of our agents. Now, if these foreigners could visit here and get to see
our people and talk to us face to face, imagine how much more they’d enjoy the experience.
In the same way that these advantages have worked wonders for the BPO industry, I believe
that we should invest in business areas that can utilize our people’s inherent strengths. A
perfect example is tourism. Aside from our exemplary language skills and natural friendliness,
we as a people are known for our hospitality. And need I say that we have a wealth of
picturesque landscapes and scenic spots found nowhere else on earth? Not only that, our
country is blessed with a gentle tropical weather all year round—an invitation for foreigners
who want to escape the harsh winter in their own countries to flock to our shores.

Over the next 10 years, my holding company, Alliance Global Group Inc., is looking to venture
into tourism in a big way. I’m not talking about putting up one or two stand-alone hotels alone;
we’re planning to build tourism estates on a large scale and with highly attractive products that
will trigger a surge of tourist arrivals from all over the world.
What else do you want to achieve in life?
As a businessman with a strong passion for real estate, I hope and pray that we can help our
country take a successful quantum leap in the next big business frontier for the country:
tourism.
"I believe a truly successful man is he who has devoted his life to serving society. As a businessman,
I believe you can serve society best by creating jobs for as many people as you can and giving them
a chance to lead better lives."

When the Students and Campuses team visited one of the houses of multibillionaire Andrew Tan in
Quezon City, we expected a towering mansion on a sprawling estate with interior furnishings fit for
king. After all, who wouldn’t think of such about Forbes Magazine’s third richest man in the
Philippines, with an estimated net worth $4.6 billion?

But to our surprise, the house of the chairman and chief executive officer of Alliance Global Group,
Inc. — the owner of top liquor brand Emperador Distillers, Inc., real estate company Megaworld
Corporation, and part owner of Golden Arches Development Corporation (McDonald’s Philippines)
— can perhaps be considered modest for someone of his stature. While his house is elegantly
designed for the rich and famous, one can see his modesty through the modern and tasteful interiors
that boast of subdued opulence and style.

What surprised us more was the warm welcome that we received from the tycoon himself who was
very accommodating despite his busy schedule. Wearing a button-down shirt and a pair of jeans, Tan
was down to earth and relaxed, despite arriving from a long trip from Spain the day before.

The businessman who is known to be shy and reserved, doesn’t usually grant interviews but
fortunately for us, he did.

His being one of the richest Filipinos is not the only reason we decided to interview him. It is actually
Tan’s humble beginnings as a passionate entrepreneur and his struggles as a working student that we
feel would be most inspiring to the youth.

Born in Fujian, China, Tan and his family moved to the Philippines when he was 16. They lived in a
small apartment in Sta. Cruz, Manila. His father worked in a transistor radio factory to support him
and his brother.

In college, Tan sold watches, tutored kids in Math, and worked as an import assistant in a Chinese-
owned company to be able to finish his education. To save money, the Business Administration
student just walked from their home in Sta. Cruz to his school at the University of the East at Claro
M. Recto and back. For lunch, he mostly ate bananacue. But his hard work certainly paid off as he
finished his degree with flying colors and graduated magna cum laude.

“It was hard juggling a part-time job and going to college, but I never complained and I kept at it
until I learned how to manage it. I learned that whether working or studying, doing it as best as I
could brought me a sense of satisfaction and fulfillment. What’s more, it helped me become a better
person,” Tan recalls.
He says that the values of discipline, perseverance, and hard work were instilled in him early on in
life by his father. In fact, he shares that his father used to scold him whenever he woke up at 7 in the
morning, and insisted that he work harder by getting up at 5 a.m.

“That incident opened my eyes to the importance of diligence and hard work, and I have taken my
father’s advice to heart since then,” says Tan who passes on these life lessons to his four children
Kevin, Kendrick, Kester, and Kara.

The journey to the top was certainly not a walk in the park for Tan who had his share of failures and
empty pockets.

After graduating from college, he continued to work hard and fulfill his dream to have a business of
his own. From the money he earned in selling appliances, Tan went on to establish the Consolidated
Distillers of the Far East, Inc., and produced liquor. It took him several years before Emperador
Brandy became a household name.

From liquor, Tan continued to expand, setting up his property firm, Megaworld Corporation. Later,
his company bought 41 percent of Golden Arches Development Corporation, giving it a stake at the
fast-growing, quick service restaurant business.

Now, he is no longer alone in expanding his empire as his family — wife Katherine and sons Kevin
and Kendrick — have been helping him manage his businesses.

In this 60 Minutes interview, Mr. Andrew Tan shares the challenges he faced in his career, his
formula for success, as well as his mission of building communities and a better life for Filipinos.
(Angelo G. Garcia)

[caption id="attachment_30222" align="alignleft" width="160"] ‘Some of

the common mistakes are lack of a clear vision, failure to adapt to change, inability to spot a crisis or
opportunity, and giving up too easily. These can be avoided if they’re willing to work hard at
disciplining themselves and changing the way they do business.’[/caption]
STUDENTS AND CAMPUSES BULLETIN (SCB): Before you became the third richest man in
the Philippines, you had your share of humble beginnings. Can you tell us that journey you took,
starting from your childhood experiences in China to Hong Kong and later, in the Philippines?

ANDREW L. TAN (ALT): I was born in China. My mother and I migrated to Hong Kong when I
was four years old. At 16, we came to the Philippines to join my father who was then working in a
transistor radio factory.

I lived with my parents in a cramped apartment in an old, medium-rise building in Sta. Cruz, Manila.
I took up Bachelor of Science in Business Administration at the University of the East and graduated
magna cum laude in 1974.

In 1977, I became a partner in a small home appliance business. In 1979, I set up Consolidated
Distillers of the Far East, Inc., and became a liquor producer. For three years I lost money, but I
never gave up until I turned the business around.

One of my greatest accomplishments as a liquor producer was Emperador Brandy. It took more than
a decade—and tons of patience and hard work—to gain wide market acceptance for the brand. Many
people would have thrown up their hands and abandoned the business, but I hung on until
Emperador took off and became the leading alcoholic drink in the country, making Emperador
Distillers the world’s No. 1 producer and exporter of brandy.

In 1989, I set up my own property firm, Megaworld. Through hard work and good fortune,
Megaworld has emerged as the country’s foremost property developer. Today, it leads three of the
industry’s brightest markets: mid-income residential condominiums, BPO offices, and integrated
tourism.

[caption id="attachment_30224" align="alignright" width="160"] ‘I believe

that it is my duty as a CEO to lead and inspire the workforce, to provide vision and direction, to guide
and motivate my people.’[/caption]

SCB: When did you start to learn the value of perseverance and hard work?
ALT: About a week after arriving here, I happened to wake up one day at 7 o’clock in the morning.
My father got angry and he scolded me. As a newcomer in the country, he said, I had to work harder
than the people here. “You cannot wake up at 7 o’clock. You must wake up at 5 o’clock.”

That incident opened my eyes to the importance of diligence and hard work, and I have taken my
father’s advice to heart since then.

SCB: How was that experience in college when you had to work and walk daily to school, with only
bananacue for lunch?

ALT: I am not among the lucky few born with silver spoons in their mouths. During my first two
years as a BSBA student at UE, I supported myself by selling watches and tutoring grade school
students in math on a part-time basis. Then I landed a job as an import assistant in a Filipino
Chinese-owned company—a job I held until I graduated in 1974.

To save on jeepney fare, I walked every day from my 20-square-meter apartment in Sta. Cruz,
Manila, to the UE campus on C.M. Recto. For lunch, I often ate “bananacue” (fried bananas) that I
bought for 30 centavos per stick from vendors along Gastambide Street.

SCB: How did you juggle your time between work and school? What did you learn from it?

ALT: It was hard juggling a part-time job and going to college, but I never complained and I kept at
it until I learned how to manage it. I learned that whether working or studying, doing it as best as I
could brought me a sense of satisfaction and fulfillment. What’s more, it helped me become a better
person.

SCB: What was your favorite subject in school?

ALT: Accounting subjects were my favorite. I believe that the study of Accounting is one of the best
ways to prepare one for an entrepreneurial career.

SCB: How did your work as a math tutor help in the development of your skills in business?

ALT: I believe a good salesman with a great math background can become an excellent
entrepreneur.

A MILLIONAIRE AT 27

SCB: Did you always want to go into business, or were you considering other careers growing up?

ALT: Upon my father’s advice, I did entertain the idea of becoming a financial executive after
graduation. Once, while walking down a street in Sta. Cruz with my father, we stopped for a while to
admire the gentlemen dressed smartly in barong Tagalog inside the glass-paneled, air-conditioned
offices of a bank. My dad thought their job was a good one, and he told me he wanted me to become
like them someday.
Even in my youthful days, however, I was already obsessed with the idea of starting a business of my
own.

SCB: When did you realize that business was something you definitely wanted to pursue as a career?

ALT: Most of my peers in college were better off than I since their families owned small businesses
such as a grocery or hardware store. That started me dreaming of doing my own business to give my
family a better life. I would tell myself that if I had P200,000—a lot of money back then—I would use
it to open a grocery store.

My first try at doing business came when I was 25, and still a bachelor. Instead of grocery items, I
sold home appliances such as imported coffeemakers and blenders to local appliance stores as a
partner in a wholesale trading firm.

Two years later, I made my first million.

SCB: You’ve previously talked about some of your initial business ventures not becoming successes.
Among those failures, which was the one that taught you the most about business?

ALT: After two years of selling home appliances, I decided to try my luck in the distillery business.
In 1979, I acquired a liquor factory that I named Consolidated Distillers of the Far East, Inc. It was a
major step forward for me as a budding entrepreneur.

But as I soon found out for myself, success does not come the easy way. My first attempts to produce
gin and then rum both came to naught. I even lost money because I was on a head-on collision
against liquor giants that had lorded it over the business for ages. Despite all these challenges, I
never gave up.

Looking back, this first taste of failures early on in my career proved to be a blessing after all. They
taught me that if I don’t make it the first time, I should try harder a second or even a third time. If
things had turned out right in the first try, I might not have worked harder to get what I wanted. And
I would have never risen higher!

SCB: What are the common mistakes businessmen, especially the young ones, make in their
businesses and how can they avoid it?

ALT: Some of these common mistakes are: lack of a clear business vision, failure to adapt to change,
inability to spot a crisis or an opportunity, and giving up too easily. These mistakes can be avoided
only if the businessmen are willing to work hard at disciplining themselves and changing the way
they do business.

SCB: How did earning your first million at the age of 27 affect the way you do business? Did you
become more aggressive with your investments after?
ALT: Making my first million at 27 marked a turning point in my business career. It was then that I
began to embrace a business philosophy that was the heart of simplicity itself: Just keep working and
investing whatever profit you make in a new business. That way, you generate more jobs and help the
country’s economy grow.

That, in a nutshell, is the story of my corporate life. It has been a continuous process of moving
forward. Every time I see a certain room to grow, or a new opportunity to advance further, I go out
and take it.

SCB: What would you consider your leadership/management style?

ALT: The management style in my organization is one that blends entrepreneurship and
professional management. Entrepreneurship provides the vision for the company and looks at the
big picture while the professional managers take care of the small details.

As a CEO, I see that the success of Megaworld rests on its ability to tap the individual skills of all
employees and to efficiently harness these skills when employees work as a team.

Under Megaworld’s culture of innovation and excellence, I give my officers and employees free rein
to think and perform innovatively. I don’t just assign specific tasks to individuals; I challenge them
to work outside their comfort zone in order to develop their creativity and resourcefulness.

I believe that it is my duty as a CEO to lead and inspire the workforce, to provide vision and
direction, to guide and motivate my people so that Megaworld continues to maintain its competitive
edge in the property market.

[caption id="attachment_30225" align="alignright" width="160"] ‘Success

does not come the easy way. My first attempts to produce gin and rum came to naught. I even lost
money because I was on a head-on collision against liquor giants. Despite these challenges, I never
gave up.’[/caption]

BUILDING COMMUNITIES
SCB: The Philippines’ real estate industry is still going strong especially with the country’s fast-
rising economy. In a very competitive market, what is Megaworld’s offering that brings something
new to the buyers?

We continue to be innovative in all our township developments. We have pioneered the “LIVE
WORK PLAY LEARN” township developments such as Eastwood City, McKinley Hill, and Newport
City, which bring a new lifestyle to people who buy and live in our developments. We believe that this
is a superior product offering to our customers compared to single residential buildings being offered
by other developers. Product innovation and design are always up-to-date with the latest trends and
functionality/amenities that our customers would want to experience in the development.

It’s encouraging to see that the real estate sector grew faster than the GDP (Gross Domestic Product)
in 2013 - 9.5 percent growth in the real estate industry versus GDP growth of 7.5 percent, in real
terms. Just in and around Bonifacio Global City, Megaworld has the biggest landbank covering 104.9
hectares with four township offerings, so Megaworld indeed has a lot of potential for the home,
office, and commercial sectors in the next few years.

SCB: Why this goal/purpose?

ALT: The goal is to give home buyers the opportunity to improve the quality of their life in an
exciting environment at reasonably priced residential condominiums. They can just walk to the
office, fetch their kids from a nearby school, shop for groceries at the supermarket, and have a fancy
dinner at the corner restaurant – all in one integrated setting. This is the good quality of life that
Megaworld townships offer discriminating home buyers.

SCB: How is Megaworld addressing the younger market, which is getting bigger?

ALT: Megaworld is developing residential projects that would cater to the needs of first-time
homeowners whether young or old. Apart from the usual amenities such as swimming pool, meeting
rooms and gym, we offer new amenities such as badminton courts, yoga and fitness centers,
skygardens, etc. Add to this its retail mall development of the township development that will surely
complement the needs of younger buyers.

Given that Megaworld pioneered flexible down-payment schemes in the local market, I strongly
believe that Megaworld continues to address the residential needs of both young single buyers as
well as young couples.
[caption id="attachment_30226" align="aligncenter" width="560"]

VALUING WORK AND FAMILY — As chairman

of Alliance Global Group Inc., Andrew Tan is a very busy man but he also knows the importance of
family. Clockwise from top left shows Mr. Tan during the launch of the Dr. Andrew L. Tan Center of
Tourism at the Asian Institute of Management; as a young entrepreneur mixing Emperador brandy;
at the groundbreaking ceremony of the Manhattan Garden City; during his engagement with wife
Katherine; his college graduation photo; with parents Tan Ha and Soonti Lim; and in his younger
years with wife and three sons (from right) Kevin, Kester, and Kendrick.[/caption]

SCB: Megaworld was an early believer in the BPO industry. Where do you see the BPO industry
headed in the coming years?

ALT: We have very good reason to believe that the Philippines will continue to strengthen its
leadership position as the call center capital of the world. The neutral accent and strong service
orientation of Filipinos help ensure this.

Also, we have a huge potential to go up the value chain when it comes to higher value-added services
like finance, accounting, purchasing, HR shared services, etc.

We also can’t forget about our ability to get into the medical and legal transcription business as well
as CAD engineering and architectural design.

The bottom line is that we have the talent in the Philippines and this puts us in a very good position
to capture the expansion of BPO operations due to lower labor costs.

We see the BPO industry to continue to expand over the next two to three years with new players
coming in and those that are already here continue to expand their operations.

SHAPING THE FUTURE

SCB: Megaworld is one of the real estate companies that changed the landscape of Metro Manila
and even Cebu. Where are you taking these lifestyle concepts next?

ALT: In line with Megaworld’s efforts to extend its reach to major provincial centers, we launched a
major project in Western Visayas, particularly in Iloilo City, the region’s business and commercial
center. The project is dubbed the Iloilo Business Park, a sprawling 72-hectare mixed-use
development in Mandurriao, Iloilo City.

On a piece of prime property that used to be a major airport, Megaworld intends to put up first-class
hotels, a commercial area, a modern lifestyle mall, BPO office buildings, and a convention center that
can accommodate thousands of people.

One of the major attractions of the business park will be the Iloilo Convention Center, a joint venture
between Megaworld and the local government. The planned edifice will be built on a 1.7-hectare lot
and is designed to host big conventions, trade fairs, and major concerts of local and international
artists. The convention center is slated to open in 2015.

The project’s master plan includes the construction of the Richmonde Hotel Iloilo which will also
host several BPO offices. Megaworld will also construct several other BPO buildings in an allotted
8.15-hectare area. More than 17 hectares, in turn, will be devoted to a mixed-use development which
includes retail shops that cater not only to the needs of tourists but to the lifestyle of the residents of
Western Visayas as well. The Megaworld Center Mall will probably be the focal point of attention in
the business park since it will become Iloilo’s first upscale mall. The Festive Walk, in turn, was
patterned after American outlet shops and will feature a wide, open-air strolling area lined with
shops of various signature brands.

This move to Iloilo City is part of the company’s plan to transform cities outside Metro Manila to
become progressive and financially viable investment centers and even tourism hot spots.

SCB: It’s been five years since you first declared Alliance Global Group’s plans on venturing into the
tourism industry. What has the group accomplished since then?

ALT: We have accomplished a lot in the past five years. Resorts World Manila in Newport City has
made its mark in the Southeast Asian tourism sector. We have more than 1,200 hotel rooms from
Marriott Hotel Manila, Maxims Hotel, and Remington Hotel that serve tourists. But there will still be
more. We are set to double our hotel rooms in Resorts World Manila in five years with the addition
of Hilton Hotel, Sheraton Hotel, and the expansion of Marriott and Maxims Hotel.

For Global-Estate Resorts Inc. or GERI, the newest member of AGI, we have launched two massive
tourism-oriented projects in two of the country’s tourism hot spots, namely the 150-hectare Boracay
Newcoast in Boracay Island and the 1,200-hectare Twin Lakes in Tagaytay City.
Boracay Newcoast comprises 14 percent of the island, with private beach coves, a boutique hotel
district, rows of shop houses, international hotels, and an entertainment center – all for tourists to
enjoy their holiday fabulously.

Meanwhile, Twin Lakes will host the country’s first vineyard community, with a championship-
caliber golf course, a wellness center and a retirement village to cater to long-staying tourists as well.

SCB: Will your company be further involved in the development of venues for performing arts like
the Newport Performing Arts Theater? How do you plan to further expand your presence here?

ALT: Buoyed by the success of the Newport Performing Arts Theater in Resorts World Manila in
Newport City, we have firmed up plans for a Grand Opera House, a venue for the arts that will rival
its predecessor in size and scale. It is set to rise in Resorts World Bayshore City in the Manila Bay
area. This is the upcoming integrated tourism estate of Travellers International Hotel Group Inc., a
member of Alliance Global Group Inc., in the Pagcor Entertainment City Manila. I personally visited
landmark European opera houses for inspiration for the Grand Opera House, which is envisioned to
seat 3,000 guests and showcase cutting-edge lighting and sound technology. I believe this grand
venue will be a big draw for similarly world-class Filipino talent.

GIVING BACK

SCB: When did the Megaworld Foundation begin? What are its advocacies and priorities?

ALT: The Megaworld Foundation was founded in 1997. As the non-profit corporate-giving arm of
the Megaworld Group, it supports various socio-economic development programs and projects that
help empower the less privileged in Philippine society.

I firmly believe that education is the key to lead people out of poverty and that giving a person of
humble birth the opportunity to be educated means giving him the chance to change his life for the
better. That is why college scholarship grants to poor but deserving young people are a No. 1 priority
for the Megaworld Foundation.

The college scholarship program of the foundation was launched in 1999. Initially, the scholarships
were granted to bright but needy students who wanted to become the architects, engineers and
interior designers of tomorrow. In recognition of the growing role of information technology in the
country, the grants were expanded in 2000 to include IT-related courses such as information
technology, computer science, and computer engineering.

The foundation is currently supporting 327 scholars enrolled in various colleges and universities in
Metro Manila.

In addition, the foundation donates to a variety of charitable causes focused on nation building,
poverty alleviation, the environment, healthcare, good governance, literacy and care for women, the
youth, the elderly, and the handicapped. For the past 14 years, the financial support and outreach
efforts of the foundation have helped change society in many ways.

SCB: Does the Megaworld Foundation also plan to involve itself with charities supporting
performance arts, in line with the company’s growing presence in building performance arts venues?

ALT: Yes.?Hand in hand with Megaworld’s interest in building more centers for the performing arts,
the Megaworld Foundation, for its part, may likely consider lending a helping hand to worthwhile
performing arts-oriented charities.

HELPING PEOPLE LEAD BETTER LIVES

SCB: What are the important life lessons that you teach your children?

ALT: A big influence and inspiration in my life was my father, who had little formal education but
who did his best to put me through school even if it meant going through a lot of sacrifices. I have
told each of my four children to follow their grandfather’s advice: “Finish your studies and always
work hard.”

Another valuable nugget of wisdom that I always impress on my children is that they should be
grateful for being born with all of the good things in life. I teach them to give back by helping other
people and doing them a good turn.

SCB: Young aspiring businessmen are encouraged to put up their own businesses especially in this
economy. What is the best advice you can give them?

ALT: Do not rush into a business just because you have the capital. You’ll lose your shirt if you jump
into it recklessly. Do your homework first. Study the market and look for that golden opportunity.
Whatever business you choose to go into, pursue it with a passion. In addition, be ready and willing
to embrace hard work, discipline, frugality, and creativity if you aspire to become a successful
entrepreneur.

SCB: What makes a truly successful man?

ALT: I believe a truly successful man is he who has devoted his life to serving society. As a
businessman, I believe you can serve society best by creating jobs for as many people as you can and
giving them a chance to lead better lives. This means you don’t stop at doing business well so that it
will grow bigger. Instead, you keep going on by investing in a new business and, at the right time,
investing in yet another new business. In this way, you get to employ more and more people and give
them a chance to improve their lives.

SCB: What is the secret to your success?

ALT: Success, for me, comes from an innate ability to feel the pulse of the market, and of people in
general. I think I am where I am now because of this knack for knowing and understanding the
market and my customers, which has helped me to provide the products and services that people will
buy again and again.

Knowing what the customers want is not enough, though. I have strived to know and understand as
well my employees, suppliers, partners, associates, and even my bankers and underwriters. Armed
with a good nose, and a good sixth sense, I have done my best to fit all of them into my grand vision
of success.