“GOOD things come from crazy ideas.”
Edgar Sia II lived by this seemingly insane byword—and made a fortune out of it.
He became the youngest billionaire at 36 years old in 2011 and has continued to amass wealth to the tune of $1.1 billion, 11 years later.
His first job while a student at the University of San Agustin in Iloilo City was architectural draftsman, but eventually made a drastic career shift to take the road to big business.
At age 26, he founded the Mang Inasal grilled chicken restaurant on Dec. 12, 2003 in Iloilo City. Over the years, the eatery has evolved into an immensely popular value-for-money restaurant across the country.
In the cut-throat food industry, the winner is the one who makes a difference. Sia whipped up some winning moves like the so-called “UnliSaya” or unlimited rice to the diners’ delight, along with the flavorful and affordable main menu of grilled chicken and pork barbecue.
Expansion could not be overlooked, but growth does not come without challenges.
Sia came prepared and demonstrated impeccable qualities of resilience, adaptability and hands-on management style.
By 2009, Mang Inasal had grown to over 100 branches nationwide, catching the attention of industry giants.
For food critics, the eatery has become “more than just a restaurant; it is a cultural icon that brings together the flavors and traditions of the Filipinos, serving millions of customers each year.”
In 2010, Jollibee Foods Corp. (JFC) acquired a 70-percent stake in Mang Inasal for P5 billion, making Sia the youngest Filipino billionaire.
Jollibee eventually took over the remaining 30 percent six years later, ultimately incorporating the restaurant chain into its own network.
The partnership between Sia and Jollibee founder Tony Tan Caktiong gave rise to Double Dragon Properties Corp.
Double Dragon is a real estate development company with a diversified portfolio including retail, office, industrial and hospitality segments.
It was founded in 2009 as Injap Land Corp. and was known for projects like CityMall, Hotel 101 and Jollibee Tower.
This year, Double Dragon tripled its earnings, reaching P2.05 billion, and their total equity exceeded P100 billion.
Boardroom blueprints under its Hotel101 Global program involved expansions into Saudi Arabia, with plans to build 10,000 rooms worth $2.5 billion.
Sia was born in Iloilo City in 1977 and grew up in Roxas City, Capiz province. He is the eldest of three siblings.
Despite being a genuine probinsiyano (hillbilly) who is unfamiliar with the complex lifestyle of the city, Sia always dreamed of making it in the big league.
He took his elementary, high school and college education in the province. He originally planned to become an architect, but then dropped out of college to focus more on his business.
However, he strongly believed that his provincial background with the grassroots knowledge could be a plus factor for advancement.
“Success is not a destination, but a journey. Keep working hard, keep learning new things and keep expanding your horizons. You never know what you can achieve until you try,” Sia said.
Editor’s Note: Power Profile is a weekly news feature spotlighting business leaders and news makers based on research or interviews.
