Ramon Ang takes full control of San Miguel Corporation

Ramon S. Ang on Friday took full control of conglomerate San Miguel Corp. (SMC) after its chair, Eduardo Cojuangco Jr., sold a huge chunk of his stake in the diversified firm to his hard-charging protégé.
The deal—valued at P27.61 billion for an 11-percent stake in the country’s largest conglomerate—cements Ang’s hold on the company that he has been running as president and chief operating officer since 2007.
“This is good timing for ECJ (Cojuangco),” said Wealth Securities research head Bernard Aviñante.
“SMC has flourished under his watch and now accounts for a good percentage of our gross domestic product,” Aviñante said.
He said that under Ang’s management, San Miguel is now “in every growth sector of our country and still continues to be an investor [in major growth projects].”
The change in leadership takes on an impressive turn, however, when juxtaposed with Ang’s humble beginnings as a businessman.
Frequently mislabeled by friends and critics alike as having started out as an “auto mechanic,” Ang actually began his long ascent in the early 1970s, buying surplus car engines from Japan, refurbishing them and selling them at a profit.
“I would buy them for $50 and sell them for $100, for example,” he said in an earlier interview. He counted the members of Manila’s drag racing circuit as his clients, including one Mark Cojuangco, who introduced the young Ramon Ang to his father, Eduardo Cojuangco.
As is often related in business circles—whether accurate or apocryphal—the elder Cojuangco asked Ang to examine one of his prized cars that had broken down, and Ang was able to repair it. Thus started, as the story goes, a friendship that would eventually see “RSA” take control of San Miguel some four decades later.
While Ang has been running the day-to-day operations of San Miguel for several years now, Cojuangco’s influence has remained strong, with Ang regularly consulting his mentor before making major acquisitions or business deals, according to sources familiar with the conglomerate’s workings.
Cojuangco’s imprimatur was crucial when Ang, beginning in 2007, steered what was then Southeast Asia’s largest food and beverage firm into a slew of new investments in fields where it had no prior experience.
The move was met with skepticism by investors and market observers, many of whom were more comfortable with seeing the company protect its leadership position in the beer, softdrink and processed food businesses.
“When we started to diversify, people said I was crazy,” the 57-year-old told the Inquirer last month. “But when you look at how far we’ve come today, do you think we made the right move or not?”
According to Bloomberg, San Miguel has spent no less than $4.8 billion—funded by a mix of equity, debt and internally generated cash—for 24 corporate acquisitions since its diversification shift in 2007.
This figure excludes its recent $500-million acquisition of a 49-percent stake in, and management control of, flag carrier Philippine Airlines.
The change in leadership at the conglomerate also comes after the Supreme Court declared Cojuangco the rightful owner of a significant bloc of shares in San Miguel after years of dispute with the government.
Born in Manila on Jan. 14, 1954, Ang graduated from Far Eastern University in 1981 with a degree in mechanical engineering.
He was appointed president and chief operating officer of San Miguel in March 2002, following the retirement of Francisco Eizmendi.
In a 2009 Inquirer report, Ang said his relationship with Cojuangco “goes back as far as his humble beginnings as the proprietor of a small firm that specialized in reconditioning surplus engines.”
Apart from heading San Miguel Corp., Ang is also president and COO of PAL Holdings, Philippine Airlines, Trustmark Holdings Corp. and Zuma Holdings and Management Corp.; chair and CEO of Petron Corp., Petron Marketing Corp., and SMC Global Power Holdings Corp.; vice chair of Manila Electric Co., Ginebra San Miguel, San Miguel Pure Foods Co. and San Miguel Yamamura Haiphong Glass Co. Ltd. (Vietnam).
He also holds the position of chair and president in various other companies, including San Miguel Properties, San Miguel Electric Corp., San Miguel Energy Corp., Lode Mining Ventures Corp., Bell Telecommunication Phil., San Miguel Beverages and San Miguel Holdings Corp.
Ang also chairs San Miguel Brewery, San Miguel Foods, San Miguel Paper Packaging Corp., and South Luzon Tollway Corp.

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For inquiries and bookings, Please click here to contact Clearwater Resort for inquiries and reservations now

Clearwater Resort and Country Club, Clark Pampanga
Creekside Road near Centennial Expo,
Clark Freeport, Pampanga Philippines 2023
(045) 889-5151 0917-520-4403 0922-870-5177
Joanne or Jeremy or Loydha

Getting to this lake and beach resort in Pampanga Angeles City Clark Philippines

After entering Clark Freeport from Dau and Angeles City, proceed straight along the main highway MA Roxas, passing the stand-along wine shop called Clark Wine Center on the right, continue to bear right making no turns at all, go past Mimosa Leisure Estate on the opposite side of the road, one will hit a major intersection. Go straight and the road becomes Creekside Road. YATS Clearwater Resort and Country Club is on the right just 200m down.

Family Bonding by the famous lake of Clark Pampanga

http://www.ClearwaterPhilippines.com

Manila Sales Office
3003C East Tower, Phil Stock Exchange Center,
Exchange Rd Ortigas Metro Manila, Philippines 1605
(632) 637-5019 0917-520-4393 Rea or Chay

Email: Inquiry@ClearwaterPhilippines.com

Please click here to contact Clearwater Resort to reserve a venue for your upcoming event now

Wedding couples looking for wedding reception venues and beach wedding venues can log on to this Philippines Wedding Venue web site for free information and assistance:

http://www.PhilippinesWeddingVenue.com

While in Clark, it might be a good idea to enjoy an evening of wine-and-dine in the fine dining Yats Restaurant and Wine Bar that features an award winning 2700-line wine list. It is located in Mimosa Leisure Estate of Clark Freeport Zone. For more information, visit http://www.YatsRestaurant.com

YATS Leisure Philippines is a developer and operator of clubs, resorts and high-class restaurants and wine shops in Clark Angeles Philippines http://www.YatsLeisure.com

While in Clark, one might as well add to the itinerary a visit to the famous Clark Wine Center, the largest wine shop in Philippines which offers over 2000 selections of fine vintage wine from all wine regions, vintages spanning over 50 years covering all price ranges.
http://www.ClarkWineCenter.com

Looking for famous tourists spots, places to visit and see, relax and unwind in Clark, Pampanga, Philippines? You may want to check out these sites also:

http://www.LondonPubClark.com

http://www.HotelClarkPhilippines.com

http://www.ClarkPhilippines.com

http://www.YatsWineCellars.com

For jobs and business investment opportunities in the Philippines please visit http://www.yilp.com

Hot Line for what’s happening in Clark: 045 889-5151 or 0927-940-2669 ask for Loydha

0915-542-6250 (Jeramie)