Ramon See Ang, widely recognized as the President and CEO of San Miguel Corporation (SMC), stands out as one of Asia’s top corporate leaders. Since joining SMC as vice-chairman in 1999, and later becoming Chief Operating Officer in 2002, Ang has been instrumental in driving the company’s remarkable growth. He’s not just any executive; he’s the man behind many of the Philippines’ significant infrastructure projects and a key figure during the country’s fight against COVID-19.
Under his leadership, SMC has flourished both locally and internationally. In 2015, the company reported a net revenue of around 672 billion pesos with a gross profit of 132 billion pesos. Fast forward to the most recent figures, SMC now boasts over 1.4 trillion pesos in net revenue and a gross profit of about 218 billion pesos. But beyond the numbers, there’s a story of how Ramon Ang rose to this position of influence and power.
When Ang first appeared on the board of directors for SMC in 1999, he was just 43 years old. Many saw him as nothing more than a close ally of the then-chairman Danding Cojuangco, who had just taken over from Andres Soriano. At that time, not much was known about Ang; he had no significant business affiliations listed in the company’s reports. However, Cojuangco praised Ang for successfully turning around his cement-manufacturing firm, describing him as a “successful businessman.” Soon after, Ang was recognized by SMC executives as the one effectively running the company’s day-to-day operations, even before his official appointment as president in 2002.
Before his time at SMC, Ang was already a wealthy man, with the Far Eastern Economic Review estimating his net worth at $250 million in 1999, largely from his heavy equipment importation business and property investments. As vice chairman, Ang was already plotting the future of SMC, including a major 30 billion peso reclamation project on Roxas Boulevard, which faced legal challenges and ended up in the Supreme Court.
The early 2000s were a period of both challenges and opportunities for SMC. Despite government opposition to Cojuangco’s leadership, SMC thrived, with Ang leading the charge. By 2004, under Ang’s guidance, SMC had expanded its operations internationally, including a major production facility in Malaysia. Ang’s strategic vision led to the acquisition of key assets, such as a 15% stake by Japan’s Kirin Beverages in SMC, which was seen as a positive move for both the company and the Philippine economy.
By 2005, SMC was dominating the market, with sales revenue growing from 148 billion pesos in 2003 to 174 billion pesos in 2004. The company continued its aggressive expansion, acquiring National Foods in Australia for $1.8 billion, which Ang later sold for over $3.1 billion, securing a huge profit for SMC in just two years.
The years 2007 and 2008 were crucial as the global financial crisis loomed. Despite this, Ang led SMC through a series of mergers and acquisitions, including spinning off San Miguel Brewery and acquiring the Bank of Commerce, marking the company’s entry into the banking industry. In 2009, as Ang approached his mid-50s, he hinted at retirement but stayed on, leading SMC into new ventures, including infrastructure and energy.
In 2012, Ang made a significant move by acquiring an 11% stake in SMC for 37 billion pesos. This marked a turning point as he transitioned from being just a leader to becoming a major shareholder. Today, through his company, Top Frontier Investment Holdings, which he owns with Iñigo Zobel, Ang controls around 61.78% of SMC.
Ramon Ang’s journey from a relatively unknown businessman to the powerhouse leader of one of the Philippines’ largest corporations is a testament to his strategic acumen and business prowess. His story is not just about corporate success but also about vision, perseverance, and seizing opportunities.