Berjaya bullish on Phl

MANILA, Philippines - The Berjaya Group, one of Malaysia’s biggest conglomerates, will expand its investments in the country to signify its support to the Aquino administration and signal to the rest of the world that ‘the Philippines is open for business’.

Apart from committing investments in real estate, retail and manufacturing sectors, the company has also donated P100 million this year and pledged another P200 million for the next two years to build hundreds of houses for the poor in the next two years through the non-profit organization Gawad Kalinga.

“The Philippines is undoubtedly now realizing its economic potentials as a result of its positive economic and investment climate,” Tan Sri Dato Seri Vincent Tan, founder of Berjaya Group Berhad, said at GK’s Bayanihan Expo in Pasay City at the weekend.

“I believe that the leadership of President (Benigno Simeon) Aquino, through a straight path of transparency, will surely uplift its economy and society. We are following him in this path to renewal and good governance in our investments because that will be good for us and for the Philippines,” he added.

It was the strongest expression of support yet from a foreign investor for the country’s economic stability and vibrancy. It is especially significant as it comes from a neighbor and partner in the Association of Southeast Asian Nation (ASEAN).

Berjaya was among those who partnered with GK to construct 200 houses for victims of last year’s typhoon Sendong in Cagayan de Oro. “Housing is a basic need that should be guaranteed to everyone,” Tan said as he turned over a check of P100 million to GK chair Tony Meloto. 

The Malaysian conglomerate has existing investments in the country through its local unit, Berjaya Philippines Inc. It operates the Luzon lotto business, owns and operates the Berjaya hotel in Makati, and holds the local franchise for pizza restaurant Papa John’s.

Tan also said Berjaya is looking to build more hotels in the country, including the luxury Four Seasons Hotel, and produce consumer goods in anticipation of higher consumption and tourism growth. He said the company also plans to set up RadioShack franchise outlets here as part of a deal to open at least 1,000 franchise locations across Southeast Asia over the next 10 years.