Teresita Sy-Coson sits down with her five siblings for lunch every Tuesday to plot the direction of the Philippines’ largest family-run conglomerate. The sessions start at 11 and invariably spill over the allotted two hours, says Sy-Coson, 63, chairman of BDO Unibank Inc. and the eldest child of Henry Sy, the country’s richest man.
Megaworld Corp., the Philippine builder controlled by billionaire Andrew Tan, plans to spend at least $5 billion in the next decade to develop properties for the nation’s expanding outsource services industry.
Robinsons Land Corp. rose to a record in Manila trading after the Philippine Daily Inquirer said the developer is close to reaching an agreement with Japanese billionaire Kazuo Okada on a casino venture in Manila.
Billionaire John Gokongwei will become a partner of Japanese pachinko magnate Kazuo Okada to build a Manila casino, projected to cost more than $2 billion in what would be the biggest such investment in the Philippines.