RSA for president

A number of my columnist colleagues, notably Boo Chanco and Iris Gonzales of this paper, have suggested San Miguel Corp. CEO Ramon S. Ang (RSA) should run for president in 2028, for two reasons:

One, the so-called presidentiables for 2028 are not exactly the best presidential material. They have some character defect (like hubris or arrogance or incompetence), or ethical issues (like unexplained wealth, links to corruption or criminality, or being a tradpol).

Two, they miss other metrics like adequate education, training, experience and genuine compassion for the poor.

Half of Filipinos claim to be poor, although the World Bank says we are middle class with an unbelievable income per capita of $12,000 in PPP dollars (what the dollar can buy in local goods).

The previous 2028 frontrunner, Vice President Sara Duterte, inherits a damaged, if not a dead, political brand, after the arrest of former president Rodrigo Roa Duterte (PRRD) for crime against humanity, after Congress exposed the VP’s own wasteful spending of tax money and corruption, and after magnificently displaying on live TV her own unhinged streak and hubris. Sara has lost half of her popularity and trust ratings.  A Tangere survey of Feb. 10 to 12, 2025 showed 73 percent of Filipinos believe Sara should face a Senate impeachment.

In the first 30 years of the 1935 Philippine Constitution, from 1935 to 1965, eight of the nine elected presidents were Bar topnotchers. The eight Bar topnotcher presidents stabilized the post-war economy and managed our longest peacetime economic expansion. They were good.

The longest reigning of them, 20 years, Ferdinand Edralin Marcos, imposed martial law for 14 years and assumed legislative powers, but prevented the Philippines from being dismembered by Muslim separatists, from being overrun by Maoist communists and from being in the stranglehold of entrenched oligarchs.  He was, however, ousted by a so-called People Power.

In the first 35 years of the present Constitution, the seven presidents included a plain housewife with major in French and math, a cigar-chomping general, an actor college dropout, an economist, the son of the plain housewife, a curse-prone suspect for crime against humanity and the good-natured, good looking only son of the former strongman.

All seven presidents elected under the 1987 Constitution either persecuted their predecessors or tried to obliterate their legacy.

The result is a rambunctious  democracy that has resulted in the worst income inequality in Asia and in ASEAN, the highest inflation rates, the highest interest rates, the highest unemployment rate and the highest poverty incidence. And one of the world’s most severe food shortages.

Those problems will converge at their worst in 2028, if little is done now.

Who can solve them? A few times, I kidded RSA about seeking the presidency. Yes, he said, he wants to be in politics, but only as a barangay chairman. RSA actually owns a formidable barangay, Barangay Ginebra.

In terms of retail presence, SMC’s reach is unmatched, nationwide. More than two million sari-sari stores carry San Miguel products.

Analysts say only a tycoon of RSA’s visioning, savvy, broad business experience and remarkable deal making ability can soften the impact, if not solve our problems.

Today, there is no human activity, except dying, where San Miguel is not engaged in. Water, beer, juices, chicken, hotdogs, gasoline, electricity, highways, electric battery, cement, housing, automobiles, mining, to name some.  SMC is the Philippines’ biggest highway builder, biggest tollways operator, biggest refined petroleum producer, biggest power producer, biggest airport operator.

RSA says San Miguel’s business is not any particular product or business. It is growth and development, and to make life better for Filipinos.

The businesses produce handsome profits and stratospheric profit margins.

In 2024, SMC reaffirmed its preeminence as the Philippines’ largest diversified industrial company with nearly P1.6 trillion in revenues, up nine percent over 2023, and as one of the most profitable, with operating profits of  P160 billion, up 11 percent.

Power, food and beverages, and infra delivered better margins and bigger profits. Plus management under RSA was tough on cost efficiency and high productivity.

In 2024, in EBITDA (cash) margins, the most profitable lines were: Infra, 79 percent; Power, 27 percent; Beer, 27 percent and GSMI, 15 percent. In absolute amounts of EBITDA, the most profitable businesses were: SMFB, P73.07 billion; Power, P55.5 billion; Petron, P43 billion; SMB, P41.75 billion; Infra, P29.73 billion and SMC Foods, P21.33 billion.

Gushes RSA: “Our strong 2024 performance reflects strategic growth, operational efficiency and disciplined execution. We remain focused on strengthening and making our businesses more efficient, while driving sustainability and long-term growth.”

In 2024, RSA said in his Facebook, “Steady growth in the first nine months of 2024 highlights the strength of our teams and strategy. Despite challenges, our net income increased by 19 percent. This success is rooted in our long-term commitment to projects that drive both our growth and the country’s development. With every investment, we create jobs, uplift communities and stimulate local economies – each initiative building on the next to expand our impact. As we continue to grow, our positive impact ripples outward, benefiting more communities across the nation. This is what motivates us – the opportunity to make a lasting, meaningful difference for many Filipinos.”

The first and the last tycoon who tried to be president was Manny Villar, the country’s biggest home builder. In 2010, he lost to Noynoy Aquino, landing third (with 15 percent of the vote) in a field of four, even after spending P5 billion.

Quitting politics, Manny went back to managing his property business. In less than a year, he recovered his P5 billion, gaining P20 billion in the stock market.

Today, based on valuation of his five listed companies, Manny is the richest Filipino, with wealth of $24.4 billion.

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