LYCOS RETRIEVER 
Lucio Tan
built 636 days ago
Philippine-Chinese billionaire Lucio Tan, who as a small child fled China with his parents to the Philippines, is one of the savvier ones. Mr. Tan, who learned how to navigate the murky waters of business and politics under the late Philippine dictator Ferdinand Marcos, emerged as one of Asia's richest men, prospering not only in the Philippines, but in China as well. According to Victor Limlingan, a professor at the Asian Institute of Management, it was getting in nearly two decades ago that made the difference for Mr. Tan. "When he went into China, the Chinese weren't so sophisticated," says Mr. Limlingan. "The early investors could run rings around them. But as the Chinese authorities grew in sophistication it became more difficult for the newcomers."
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Lucio Tan is the richest industrialist in the Philippines, with a personal net worth of at least $1.5 billion. Known to be shrewd but secretive and reclusive, Tan has extensive investments in China and Hong Kong.
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Lucio Tan has not had a smooth flight in the aviation business. Since buying into Philippine Airlines (PAL) in 1992, the beer and tobacco tycoon has fought non-stop dogfights with rival investors, government officials, unions and creditors while suffering year after year of losses. So when he said last month that he wanted to sell the flag carrier, which is groaning under debts of $2.24 billion, was he grounding himself?
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Lucio Tan has the right to match the bid of the winning bidder but he pays only P16 billion. If he doesn’t bid, he still has to pay the government P7.8 billion. This is among the conditions of the rehabilitation plan. So if you are going to spend P7.8 billion anyway and end up not owning the bank, why not add another P8.2 billion and you own the bank?
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Lucio Tan (陳永裁), owner of Philippines Airlines, has donated 24 million bottles of drinking water to ease Taiwan's water shortage, a local newspaper reported yesterday. "Absolute" water comes from Asian Breweries, which is ... owned by Tan. Philippine Airlines brought five boxes -- 120 bottles -- to Taipei on Friday and handed them to the Anti-Disaster Center. "In the first month, Lucio Tan will supply 200,000 boxes -- 4.8 million bottles -- - to Taiwan," the paper said. The Philippines is the third country to supply drinking water to ease Taiwan's water shortage. China's Fujian Province and Japan's Okinawa Island began supplying water to Taiwan early this month.
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Lucio Tan started a degree in Chemical Engineering at the Far Eastern University in Manila in the late ’50s, but failed to complete the degree because he had to work to earn for the family. His first employment was at a cigarette factory. Very soon, he opened his own company, Himmel Industries, which thrived since it manufactured glycerine – an ingredient essential to tobacco, but was then being imported by the major cigarette companies. Despite advice to the contrary, he put up a cigarette company of his own in 1965, Fortune Tobacco.
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Lucio Tan