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Mang Inasal owner Edgar “Injap” Sia II makes it to Forbes Magazine's Philippines' 40 Richest
Published on: Jun 23, 2011 - 12:50pm

(SPOT.ph) Thirty-four-year-old Edgar “Injap” Sia II of Mang Inasal fame is the youngest addition to Forbes Asia Magazine's "Philippines 40 Richest" list this year, reports Forbes.com.  Sia founded the successful fast food chain eight years ago when he was 26. He holds the 40th spot on the list.

After becoming the third-largest fast-food chain in the country with 380 stores, Sia sold 70 percent of Mang Inasal's shares to Jollibee Food Corporation (JFC) for $68 million last year. This deal earned him a net worth of $85 million, solidifying his place in Forbes’ list. JFC, which controls the country's top two fast-food chains, Jollibee and Chowking, is owned by Forbes' "Philippines' 40 Richest" 11th placer Tony Tan Caktiong.

Sia told Forbes that competing against larger chains was not conducive to his business. “How long can an eight-year-old win against a 30-year-old?” he said, referring to Jollibee. "Jollibee's operational know-how and our entrepreneurial energy is an unbeatable combination."

Sia, who still has a 30-percent stake in Mang Inasal, continues to head operations and holds a three-year non-compete contract. He plans to have 425 Mang Inasal branches this year (500 by next year) and increase revenues by 40 percent. He is also eyeing Chowking's spot as the second largest fast food chain in the country.

 

Topping the list are local billionaires Henry Sy ($7.2 billion), Lucio Tan ($2.8 billion), John Gokongwei ($2.4 billion), Andrew Tan ($2 billion), David Consunji ($1.9 billion), Jaime Zobel de Ayala ($1.7 billion), Enrique Razon Jr. ($1.6 billion), Eduardo Cojuangco ($1.4 billion), Roberto Ongpin ($1.3 billion) and George Ty ($1.1 billion).

For more on this story and for the complete list of Forbes Philippines 40 Richest, log on to Forbes.com.

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26 Comments
  • ray
    Gotta agree with majority here. No such thing as a true Pinoy in terms of race and ancestry.rnrnThe measurement of a true Pinoy is your love, patriotism, and contribution to the betterment of the Filipino society in the field you have chosen.
    Jun 29 2011 @ 10:48am     Reply  
  • referee
    enough guys, jeez!.. para kayong mga sinasabong manok dyan. the article is about Sia's achievement in his Mang Inasal business. you guys are exactly the best model of elite's strategy as per SURG702 - "keeping people busy hating each other, disagreeing with each other and fighting each other while they're busy collecting the fruits of our labor." chill lang. we are entitled to our own opinion. what is right to me may not be right to you. so be it. respect. what i want to know is -- single ba itong si SIA? im single and available! marry me SIA!
    Jun 29 2011 @ 10:16am     Reply  
  • fred
    Phony! That's what you are surg!
    Jun 27 2011 @ 03:51am     Reply  
  • surg702
    @ taxpayerrnrnWrong my man...not on government payroll, not on anybody's payroll, didn't owe anybody anything. It was something performed in the spirit of volunteerism. Read my notes again.
    Jun 27 2011 @ 02:19am     Reply  
  • taxpayer
    Wow, the cat is out of the bag - surg was a consultant on Filipino affairs? This person should have been assigned in the Middle East where he is needed most. What a waste of taxpayers' money!
    Jun 26 2011 @ 11:24pm     Reply  
  • surg702
    @ monoclernrnThanks for putting words into my mouth. Please read my comments again. I was a consultant on Filipinornaffairs, not a diplomat.
    Jun 26 2011 @ 05:12pm     Reply  
    1
  • huey newton
    @unclesam,rnAin't No Amerkan dream! Amerika is just a big HO!rnDream on brudda!rn
    Jun 26 2011 @ 04:38pm     Reply  
  • monocle
    @surg702 with your logic, you would deport rizal, our national hero and a Filipino-Chinese mestizo, back to china. You would do the same to corazon Aquino and several other heroes who are of mixed ancestry. You would be stripping our nation of its history which has benefitted even before 1521 from trade and intermingling with its Asia neighbors. Meanwhile,your argument sounds a lot like Germany for Aryans. Expel the Jews would be your answer...am surprised you worked as a diplomat.
    Jun 26 2011 @ 04:06pm     Reply  
  • surg702
    Vargas broke US immigration law and should be deported.
    Jun 26 2011 @ 03:23pm     Reply  
  • @surg702
    You want the Philippines for Filiipinos only? Then American should be only for the Americans (whatever "American" means), and a lot of Americans believe this. Haven't you been following the case of Mr. Vargas, the journalist who wrote for some of the leading publications in Americaand won a Pulitzer prize?Now that he has "come out" as an undocumented alien, he has been criticized widely and risks being deported. The Inquirer has been very sympathetic to him, but read the Washington Post (www.washingonpost.com - it is free), especially the comments. There is so much conservative trash being written about how he is "stealing American jobs" and all that. I am an American, and I am ashamed of all this. Do YOU want him deported, to leave America to the Americans?
    Jun 26 2011 @ 03:11pm     Reply  
  • surg702
    @ uncle samrnrnSorry...not an immigrant. I was with the consular office in Los Angeles and well acquainted with Filipino issues. The principle that all men are created equal is written in the US constitution. If you are a resident / citizen of the US, you must know this. You know that everything you stated is a big American hope and it is all a lie. Dream on my friend.
    Jun 26 2011 @ 02:24pm     Reply  
  • uncle sam
    @ cesar chavez, it is a myth if people like you and Dolores Huerta do nothing but protest no different from the militants here. If you were not happy why not just live in your parents' or grandparents' country of birth.
    Jun 26 2011 @ 02:20pm     Reply  
  • cesar chavez
    @uncle sam,rnrnThe American dream is a myth. It has even turned into an American Nightmare, look at those who are now impoverished there!rn
    Jun 26 2011 @ 01:55pm     Reply  
  • uncle sam
    @ surg, I am glad you rest your case. I am sorry to tell you that is not what America is all about. If you live in America and still believe that, I sense that you are an immigrant based purely on economics. The American Dream is based on the principle that all men are created equal. If you did not believe in that then there is no reason for you to move to America. While it is not perfect, all institutions follow established laws, programs (including Affirmative Action), and procedures to ensure that citizens and immigrants (like you) reach their dreams regardless of national origin, race, creed, and now, sexual orientation.
    Jun 26 2011 @ 11:12am     Reply  
  • surg702
    @ uncle samrnrnAmerica is White Country and you know that. If you rnare part of Affirmative Action, you know who you are. If you fight for racial and pay equality, you know who you are. I rest my case.
    Jun 26 2011 @ 10:15am     Reply  
  • uncle sam
    @ surg, Nah. I love your comments in most of the topics but you flunked on this one big time. There is only one United States which is a multi-cultural United States period. There may be some racial tensions especially during times of recession but it is a continuous process to address that. Specific laws are in place to ensure that there is no division between the immigrants and the naturalized citizens or citizes born in the United States.
    Jun 26 2011 @ 09:13am     Reply  
  • surg702
    @ monoclernrnI have no problem with Manny Villar gaining wealth,rnthis is his country. What I want for him to do if he'srnpresident, is to restore the middle class in this country and spread the wealth proportionately. Right now, it is only the haves and the have nots.
    Jun 26 2011 @ 04:43am     Reply  
  • surg702
    @ monoclernrnLike the Philippines national heroes who fought for this country's independence from the colonizers, I share the same nationalism. Like the Japanese' nationalism, Filipinos must do the same, a Philippines for Filipinos only. Racial tensions are increasing in multi-racial societies like the US and Europe because every ethnic group wants a piece of their agenda to succeed for their own self serving purposes, not because of their new nationalism. Do you see this in Japan or in China ?
    Jun 26 2011 @ 03:33am     Reply  
  • tita aida
    @ monocle, I completely agree with you. Read my comment on the "Top 10 Most Beautiful Morenas". The inappropriate use of the word "pinay na pinay" is clearly marked with insensitivity, if not ignorance, on the presence or stature of other members of Philippine society.
    Jun 26 2011 @ 01:26am     Reply  
  • monocle
    @sur702 what exactly is a a real pinoy anyway? We are a mixed race and if you are referring to the Spanish or chinoys who dominate the list, they too claim Filipino citizenship. Your definition of citizenship or even nationalism should be revisited. It is like saying that the only Americans who should be wealthy are the native American Indians and that every single immigrant group has no right to the dream despite their contributions. You sound like the American redneck who blames the Hispanics, the Asians for the misery. And as for manny villar, he may be ethnically Malay, but he stole from the peoples coffers. Yours is a twisted and racist logic.rn
    Jun 25 2011 @ 09:58pm     Reply  
  • surg702
    The elite's strategy is so simple. Control the population rnby keeping people busy hating each other, disagreeing with each other and fighting each other while they're busy collecting the fruits of our labor.
    Jun 25 2011 @ 05:14pm     Reply  
  • surg702
    90 % of the Philippines' wealth is controlled by these people who represent 1 % of the country's population. rnNot even one of them is real Pinoy. If I want Manny Villar to be president, is because I believe he is a true Pinoy. It is heartbreaking to see that Filipinos are slaves in their own country.
    Jun 25 2011 @ 04:28pm     Reply  
  • smallville
    The Philippines is a vast market. There is a lot of potential. Just hit the Filipino psyche and you will hit it big time. Example, the Filipinos' love for texting that is why we have Globe and Smart growing year-after-year. In the case of Sia, it is quite simple: Unlimited Rice.
    Jun 24 2011 @ 12:01pm     Reply  
  • lisa perez rubio
    mas masarap pa rin ang eti*s ng lalaki kesa sa inasal na chicken. yum yum!
    Jun 24 2011 @ 09:24am     Reply  
  • noturordinarygirl
    In dollars ba talaga or pesos?
    Jun 23 2011 @ 05:40pm     Reply  
  • jessa
    34 and a billionaire, wow! He has the right to sing this songrnrnI wanna be a billionaire so freaking bad...May Forbes magazine pa siya!
    Jun 23 2011 @ 02:38pm     Reply  
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