Ever the eager businessman and learner, Injap invested the money he got from Jollibee into banking (he was part of Philippine Bank of Communication’s board for two and a half years), and health maintenance (he still serves as a director for Maxicare, the country’s largest HMO). 2003 was the year when Injap came up with the grand idea of opening up a chicken barbecue fast-food restaurant – an idea that was a bit of a novelty at the time. Fateful as it is, Fujian-rooted Tiu has been the CEO of the company for twenty years now despite the patch of time he left the country in an attempt to lead a simple life with his family in Europe, continuously going down the purposeful path he started AgriNurture for. They also acquired Deco’s La Paz Batchoy in 2007, the country’s oldest La Paz batchoy restaurant in the country, and is located mostly in the Visayas region. While implementing the offer, Injap had the presence of mind to increase prices by P2 to make up for the potential losses from giving away extra rice, which also made a compelling proposition to both consumers and franchisees.
[3] In 2009, Mang Inasal expanded to over a hundred branches. How else would a Stock with an IPO of PHP 2 would rise to an intra-day change of PHP 80 in 2016? Very grounded and analytical, casual and respectful, he speaks his mind with sharp recollection of his entrepreneurial exploits. Sia engaged in the food business at twenty-six years of age, opening the first Mang Inasal branch since December 13, 2003 at the Robinsons Mall Carpark in Iloilo City. This led to the chain of CityMalls that now dot the countryside. We use cookies to ensure you get the best experience on our website. The year after, intending to take Mang Inasal public, he also got multiple letters of intent from various parties wanting to buy a part or all of the company. [2], In October 2010, 70% of Mang Inasal was acquired by Jollibee Foods Corporation (JFC), for ₱3 billion ($68.8 million).
[2] The restaurant was an instant success, despite stiff competition from other established grilled-food restaurants. By continuing, you are agreeing to our use of cookies. I learned that during that time, he was preparing Mang Inasal for its initial public offering (IPO), so it was understandable that he wanted Mang Inasal to be more high profile. Edgar Sr. eventually gave in, and Mang Inasal was born at a mall in Iloilo City. Inspired by the great Ottoman Empire, My Ottoman Home in Makati brings Turkish pieces closer to us.
Edgar "Injap" J. Sia II is a Filipino businessman. He saw the biggest school, the biggest hospital, the biggest port, the biggest of everything and discovered that there was no shopping mall in most third class cities of the Philippines.
Two years after fully acquiring Mang Inasal, a partnership between Sia and Caktiong was born: Double Dragon Properties, a real estate company that wants to develop 100 community shopping complexes called City Malls in the smaller cities of Visayas and Mindanao. He’s also the owner of People’s Hotel, a 5-storey businessman’s hotel in Iloilo City. The chain opened its first branches within the Visayan region, then expanded to neighboring Mindanao to the south before spreading to Metro Manila. Business Talk with Paolo Bugayong, Co-Founder and CEO of AIDE. My Ottoman Home in Makati: A Turkish and Moroccan Inspired Store for Your Home Decorations. Mang Inasal Philippines, Inc., also known as Mang Inasal, (Hiligaynon for "Mr. Barbecue") is a barbecue fast food restaurant chain in the Philippines, established in Iloilo City since December 13, 2003. His father, a Filipino-Chinese, gave him a hard time before eventually giving in. The first time I met Edgar Sia II, better known as Injap, was in 2009 when his entry to the Mansmith Young Market Masters Awards (YMMA) won and made him part of the batch. He’s a crook. From that one branch, Mang Inasal ballooned to over a hundred in 2009.
Always humble and respectful, Injap acknowledges that he is simply being used by God to inspire others; he had in fact gifted substantial shares of his company to his siblings even before the Jollibee acquisition. His discovery skill helped him connect the dots and see things differently. Sia is the chairman of DoubleDragon Properties, and the founder of the Mang Inasal fast food restaurant chain. Business Talk with Antonio L. Tiu, Chairman and CEO of AgriNurture.
Jollibee was one of the companies that approached him as Mang Inasal was deemed a good addition to its restaurant portfolio. The company started franchising in 2005. A hard worker even at a young age, the Iloilo-born Injap was no stranger to doing the legwork just to reach your goal. The company was started by Edgar Sia, who owned his first business at the age of twenty. That would be difficult, Robredo says, DepEd disowns self-learning module using ‘dirty names’, Even without corruption, Manila Bay rehab is not OK during pandemic – Robredo, Robin Padilla, Mariel Rodriguez, family members contract the flu, Consensus against 2022 election delay swells. IMAGE Rennell Salumbre/Esquire Philippines. He wanted the name to be shorted to “Mng Inasal”, citing feng shui and companies like Jollibee and Chowking.