Yuchengco conglomerate expands to greater horizons

Posted in: Philippines Report 2018 Started by

Yuchengco conglomerate expands to greater horizons

In an interview with Chairperson Helen Yuchengco Dee and Corporate Vice-Chairperson, Cesar E.A. Virata, both discussed how new opportunities keep arising for the YGC.

How would you describe the Philippines’ standing in the region in terms of its business and investment environment?

“In the last few years we have noticed a growing interest in the country due to our attractive investment initiatives and strong credit rating. Well received monetary policies and strong domestic growth have also played a role and the Philippines’ government is working hard to ensure the country remains an attractive investment destination.

Continued growth within key sectors of the economy is creating opportunities and we want to see this continue in line with the development of the Philippines.”

Japan - Hiroaki Wakui, Managing Director of Meiden Asia Pte Ltd and Ko Yamamoto, Managing Director of Meiden Singapore Pte Ltd

Helen Yuchengco Dee,  Chairperson of Yuchengco Group of Companies

As one of the largest and most diversified conglomerates in the Philippines, how has the Yuchengco Group of Companies (YGC) built on its reputation as a strong partner for foreign corporations?

What can we expect in 2018?

“With footholds in multiple sectors of the economy, the Yuchengco Group of Companies prides itself on collaborations and partnerships which create successes for all parties.

From the banking sector, to energy and education, we seek foreign partners who are in a position to drive business and improve the lives of our customers by providing top-of-the-line services that meet global standards. In this way, we are not only ensuring the growth of our businesses, but also provide our foreign partners with access to the market and ensure they are in a position to expand their respective businesses.”

Which sectors are proving to be growth drivers for the domestic economy?

“Our goal and main directive has always been to remain competitive. The diversity found across the Yuchengco Group of Companies provides us with the opportunity to grow and improve our activities in various sectors.

We are seeing growth in sectors such as education where our school, Mapua University, recently attained university status and is recognized as one of the best IT, engineering and technology universities in the country. We are proud of our achievements in terms of the school’s reputation with local and international accreditation authorities. We encourage our students to strive to be the best and work hard to develop partnerships with both corporate and educational institutions across the globe.

The energy sector is also showing promising signs of growth. Our firm Petroenergy Resources Corporation, is leading the way in terms of investing in the mass distribution of clean, renewable energy across the country.

Progress is also being made in the country’s construction and infrastructure sectors where EEI Corporation, our leading global construction service provider, continues to grasp opportunities across the country within the Philippines’ infrastructure sector.

Our banking unit, Rizal Commercial Banking Corporation (RCBC), continues to expand through various ventures. We are focused on innovating and providing better products to meet our clients’ needs as well as providing funding for key projects.”

With collaborations and alliances with several prestigious Japanese groups, how would you describe YGC’s ties to Japanese corporates in 2018?

(Cesar) “Our ongoing relationship and partnership with Japan is crucial to YGC’s own expansion and progress. In gaining the confidence of the Japanese market, our businesses are able to flourish. For example, RCBC is currently the leading financial institution for Japanese firms operating in the Philippine Economic Zone Authority (PEZA). Our existing collaborations allow us to further promote direct investments and business relationships between Philippine and Japanese entrepreneurs and corporations.

One such example is the expansion of the partnership between the bank’s credit card-servicing entity, RCBC Bankard, and JCB International. The 20-year partnership just recently produced the bank’s newest top of the line privilege card, the RCBC Bankard JCB Platinum Card, which provides world-class privileges and state-of-the-art features to the modern traveler of today.

What message do you have for our readers regarding the future of the Philippines as a place to do business and what plans do you have to ensure YGC remains a leading player within the economy?

“As a developing country, the Philippines’ economy continues to grow and attract foreign investors. Our country is home to a hospitable environment for business expansion, a fact that appreciated by foreign corporations. Aside from this, there is the advantage of our highly accessible human resources and competitive manufacturing hubs.

YGC is leveraging our strengths in many growth areas of the economy. We will intensify the way in which we provide our services to meet the needs of our customers’ lives. In addition to the introduction of new products and innovative solutions, we will also be focusing on the environment by continually investing in clean and renewable energy sources.

Our companies will continue to play a significant role in the banking and finance, insurance, construction and real estate, education, information technology and automotive sectors as we contribute to the development of the Philippines.”

EEI Corporation expands business with new Japanese partners

Yuchengco group-led construction firm EEI Corporation (EEI) has rolled out a new scaffolding and formwork rental business in partnership with two Japanese firms.

EEI subsidiary, Equipment Engineers Inc., Japan’s leading scaffolding and allied products rental

company, Sansin Sangyo Co. Ltd., and KYC Machine Industry Co. Ltd., a Japanese construction machine manufacture,

JPSAI was incorporated in December of 2016, with EEI holding a 60% majority stake. The venture aims to uplift the Philippine construction industry by supplying quality shoring and scaffolding products as well as incorporating the Japanese scaffolding and formwork rental standards and disciplines to local construction projects in the country.

Japan - Hiroaki Wakui, Managing Director of Meiden Asia Pte Ltd and Ko Yamamoto, Managing Director of Meiden Singapore Pte Ltd

Masatoshi Naokawa, CEO of KYC Machine Industry Co.; Roberto Jose L. Castillo, CEO of EEI Corporation; Masato Ono, CEO of Sansin Sangyo Co.; and Gary F. Cruz, President of JPSAI at the inauguration and launch of JPSAI, formed by the partnership between EEI Corporation and two Japanese firms, Sansin Sangyo Co. and KYC Machine Industry Co.

Scaffolding, composed of strong and sturdy material such as timber or steel, is only a temporary structure used as the framework and platform with which to carry on construction works. It should be stable enough to support not just construction workers but their industrial tools and other construction materials as well.

Founded in 1974, Sansin Sangyo offers a wide selection of scaffolding and state-of-the-art solar panel systems. Meanwhile, KYC Machine handles the manufacturing and selling of construction machines and plant equipment such as concrete mixers, concrete batching plants, crushing plants, belt conveyors, and other environment related products.

As one of the leading construction companies in the Philippines, EEI is involved in the installation and construction of large-scale infrastructure projects such as power generating facilities, oil refineries, chemical production plants, cement plants, food and beverage manufacturing facilities, semiconductor assembly plants, roads, bridges, rails, ports, airports and other infrastructure alongside high-rise residential and office towers, and hotels building. It also operates one of the country’s modern steel fabrication plants.

Growth and innovation highlights Malayan-Tokio Marine partnership

Being a globally competitive player, the Yuchengco Group of Companies has sought out strategic alliances in neighboring countries. The conglomerate has developed strong foreign relations, particularly with the Japanese.

Malayan Insurance has had a long-standing partnership with Tokio Marine Insurance,

the oldest insurance company in Japan.To further expound on this business relationship of 54 years as well as the plans for the future, Tokio Marine President Tsuyoshi Nagano shares his insights.

Japan - Hiroaki Wakui, Managing Director of Meiden Asia Pte Ltd and Ko Yamamoto, Managing Director of Meiden Singapore Pte Ltd

Tokio Marine Holdings President & CEO,Tsuyoshi Nagano delivering a talk to key officers and employees of Malayan Insurance and Tokio Marine Division

Both Malayan Insurance and Tokio Marine Insurance are committed to providing quality service to its clients. Through the years, both companies have been able to benefit and improve.

“By utilizing our global network and resources, we are able to provide our services to the Philippine public through Malayan Insurance,” Nagano explained. In turn, Tokio Marine has provided expert knowledge to Malayan Insurance in order to improve its processes and structures. This allows Malayan to enhance and upgrade its services to its clients. “This creates synergy, and synergy is important for the future growth and expansion of Malayan Insurance,” he added.

Nagano also shared that Tokio Marine has begun initiatives in order to stay ahead in the industry. Among the main initiatives are geographic and business risk diversification, tapping emerging markets such as the Philippines, and research and utilization of new technology. “Technology will change our industry in many aspects, such as products, services, distribution, and internal operations,” Nagano said, “So we must strive to keep up with these changes.”

Aside from this,Tokio Marine has begun to develop new products to cater to new needs in the market, such as insurance coverage for autonomous cars, as well as “living needs” insurance, which is a hybrid of life and non-life insurance.

With these innovations and efforts, the joint venture between the two companies only stands to strengthen and grow. “By working closely with Malayan Insurance, we can create new products and services for the Philippine insuring public,” Nagano said.

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