Success Story of Lucio Tan

His Companies deal with Liqour, Tobacco,

Aviation, Banking and Real Estate.

*Asia Brewery, the 2nd largest brewer in the Philippines.

* Tanduay Holdings, one of the world's largest rum makers.

* Fortune Tobacco, the largest tobacco company in the country.

* Philippine Airlines, the Philippines' Number 1 Airline and Aviation Company and Asia's FIRST Airline

* University of the East one of the most financially stable

universities in the Philippines in terms of assets.

4 life lessons from Lucio Tan

The tobacco business was a

success and it expanded introducing a budget brand

‘Hope’ in 1975. By year 1980,

Fortune Tobacco was the Philippines’

largest cigarette manufacturer.

later on found a job in a tobacco factory

where he was tasked to buy leaf tobacco in

the Ilocos provinces.

* Philippine National Bank, the 5th

largest bank in the country.

* Allied Bank, the Philippines' 8th

largest lender (Merged with Philippine

National Bank).

1) Turn hunger and difficulties into ingredients

for success.

2) Stay simple.

3) It’s not just who you know, it’s who knows you

4) Money cannot buy everything

Lucio Tan started his own cigarette

company named Fortune Tobacco in

1966. It was also during this time when

his close friend Ferdinand Marcos was newly

elected as President.

* Eton Properties Philippines, the global real

estate brand of the Lucio Tan Group.

In 1982, Lucio Tan established and put up Asia Brewery where he used to his benefit, the Marcos

ruling that lifted the ban on the establishment of new

beer companies. Back then, it was the only brewery

allowed to compete with the market leader San Miguel

Corp.

Early life

Lucio Tan was born on July 17, 1934 in China’s Fujian province. His family moved to Philippines, in Naga, where he was a child. Tan is the oldest of eight siblings.

He worked his way through college studying

Chemistry in Far Eastern University but

quit before graduating, set up a business that

deals with scrap in the late 1950s

Although some of us knew Lucio Tan got

involved in various controversies as in the case

of tax evasion, having a lot of children in

different wives, and having close friends

in politics like former Philippine Presidents

Marcos and Estrada, he is still another

epitome of success.

In 1977, Lucio Tan acquired from the Philippine Government the then bankrupt bank General Bank and Trust Co. (Genbank) for only P500,000 which was described by many as a sweetheart deal. It was later renamed to Allied Bank.

He was once the longest running richest

man in the Philippines not until last year

when his great rival retail tycoon

Henry Sy overtook him in the throne.

In 2000, Tan has become the majority stockholder of Philippine National Bank. The merger of PNB and Allied Bank is expected to be completed before the end of this year.

While a lot of articles say that Lucio Tan benefited a lot from tax concessions and privileges that the Marcos Regime gave to him in exchange for a rumored 60% on all his shareholdings, on December 7, 2007, the Philippine Supreme Court affirmed the decision dismissing the state’s sequestration of Lucio Tan’s companies. The court’s decision says that “there can be no question that indeed, petitioner’s orders of sequestration are void and have no legal effect.”

Lucio C. Tan, Sr.

In 1995, he founded yet another company in the aviation industry. The Macro Asia Corporation was envisioned to be the leading provider of aviation and logistics services. This vision has become a reality as Macro Asia Corporation is now the provider of technical ground handling, engineering and maintenance services, and catering services to majority of the international airlines.

While a lot of articles say that

Lucio Tan benefited a lot from tax concessions and privileges that the Marcos Regime gave to him in exchange for a rumored 60% on all his shareholdings, on December 7, 2007, the Philippine Supreme Court affirmed the decision dismissing the state’s sequestration of Lucio Tan’s companies. The court’s decision says that “there can be no question that indeed, petitioner’s orders of sequestration are void and have no legal effect.”

Lucio Tan's Success

- a Chinese Filipino businessman and educator with interests in banking, airline, liquor, tobacco, real estate industries and education.

In 1993, Lucio Tan secured control of the country’s airline carrier Philippine Air Lines (PAL).

While a lot of articles say that Lucio Tan benefited a

lot from tax concessions and privileges that the Marcos

Regime gave to him in exchange for a rumored 60% on all his shareholdings, on December 7, 2007,the Philippine Supreme Court affirmed the decision dismissing the state’s sequestration

of Lucio Tan’s companies. The court’s decision says

that “there can be no question that indeed petitioner’s

orders of sequestration are void and have no

legal effect.”

While a lot of articles say that Lucio Tan

benefited a lot from tax concessions and privileges

that the Marcos Regime gave to him in exchange

for a rumored 60% on all his shareholdings

on December 7, 2007, the Philippine Supreme Court

affirmed the decision dismissing the state’s sequestration of

Lucio Tan’s companies. The court’s decision says that

“there can be no question that indeed, petitioner’s orders of

sequestration are void and have no legal effect.”

Lucio Tan is still one of the richest person in the Philippines ranking

him as second to Henry Sy last year 2008 with a total asset of %1.5 Billion. His Lucio Tan Group of Companies now owns several industries that includes liquor (Tanduay Holdings, Inc. and Asia Brewery), tobacco (Fortune Tobacco), aviation (Philippine Airlines), banking (Allied Bank and Philippine National Bank), real estate (Eton Properties Philippines), and education (Univerity of the East).

Prepared by:

Aaliyah B.Dimaculangan

9- Fortitude

Prepare to:

Ms. Vanjie Hernandez

Success Story of Lucio Tan

Lucio Tan, probably the most controversial of all the Filipino Tycoons, is the featured success story today.