A Truly World-Class Filipino Entrepreneur

Presentation Remarks by retired Chief Justice ARTEMIO V. PANGANIBAN, Chairman of the Board of Judges of the RVR Awards for Nation Building, during the Award Ceremonies for Dr.Tony Tan Caktiong as the sole Awardee held on July 25, 2022 at the Manila Polo Club, Makati City

Our esteemed Awardee, Dr. Tony Tan Caktiong, his loving wife Grace, distinguished members of the Board of Judges who had been introduced earlier, former Finance Secretary Ramon R. Del Rosario Jr and the other members of the Del Rosario Clan, President Richard Lim and the other members of the Manila Jaycees, Ladies and Gentlemen.

Our sole RVR Awardee for Nation Building this year is a truly world-class Filipino entrepreneur, Dr. Tony Tan Caktiong. His official title is Founder, Chairman and CTO (Chief Taste Officer) of Jollibee Foods Corporation (JFC). Started in 1978 by our Awardee and his amiable and equally hardworking wife Grace as a single mom-and-pop store selling the now iconic Chickenjoy, JFC has grown exponentially with oveer 6,000 stores as of today and with 18 international brands sold in 34 countries from the Philippines’ Mang Inasal, Chow King, and other well-liked tradenames, to Hong Kong’s Tim Ho Wan, to China’s Yonghe King, to America’s Smashburger and to the world’s Coffee Bean and Tea Leaf.

In 1993, JFC was listed in the Philippine Stock Exchange at P9 per share. Prior to the COVID-19 pandemic, its share price peaked at P325, meaning the share price has multiplied 36 times in less than 30 years. At the height of the pandemic, it dropped to as low as P100. Now, it has doubled to about P210 along with the recovery of the world economy. It’s time to buy JFC shares!

Indeed, prior to the pandemic, JFC had become one of the top ten publicly-listed Quick Service Restaurants in the world. It aims to be among the top five in eight years, doubling its store count and its worldwide sales revenue and net income. If our Awardee visited one of his stores daily and ate a meal in each one, he would not be able to visit all of them during his lifetime because they will be increasing at a pace faster than his visits.

And yet, he has remained humble, friendly, generous and patriotic. Together with his wife Grace, he organized and heads the Jollibee Group Foundation that encourages, assists and funds farmers and poultry raisers to produce consistently high-quality products that JFC and its subsidiaries purchase directly thereby assuring a reasonable mark-up for the producers and high quality ingredients for his customers. Why do I know all these? Because I happen to be a nonexecutive director of JFC!

The Board of Judges is honored to greet him, his dear wife Grace and his dynamic JFC team led by President and CEO Ato Tanmantiong for proving the Filipino can do what the best entrepreneurs in the world can. We believe the late Ambassador Ramon V. Del Rosario in whose honor the RVR Awards are granted would surely be proud that his dream for global Filipino ingenuity and pioneering spirit is fulfilled to the hilt by our Awardee.

Ladies and gentlemen, please join me in giving a standing ovation to our Awardee, Dr. Tony Tan Caktiong. May I invite him to go up the stage for the formal presentation of this huge and super heavy Trophy? May I also request, Mrs. Grace Tan Caktiong, to accompany him to the stage? May I likewise request the members of the Board of Judges to help me hand over the award to him? Thank you.

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