Alfonso Yuchengco

(Editor's Note: Alfonso Yuchengco is ranked as 18th Richest Filipino in 2008 with a net worth of US$ 200M. The owner of Rizal Commercial Banking Corporation, Mapua Institute of Technology - one of the pretigious engineering universities in the Philippines and the Yuchengco Group of Companies).

Alfonso Yuchengco with his long-range international relationships is an important reference-person to the international business people in southeast-Asia.
Alfonso Yuchengco was born in 1923. His father Enrique was running rice mills and an insurance company -building a firm foundation for their future business-conglomerate.
His business education which started under his father was culminated at the Columbia University where he completed his management course.

In 1950, Alfonso Yuchengco joined the company of his father. He developed the businesses further. When he retired, he was owner of more than one dozen companies in different industries.
In the center of his activities stood the financial sector, represented by companies like the Malayan Group of Insurance Companies, Great Pacific Life Insurance Company, the House of Investments as well as the Rizal Commercial Banking Corporation (RCBC).

Here are some ideas from Alfonso Yuchengco taken on his interviews:

"You can be the smartest man in the world, but if you are not lucky you won’t succeed. “

"I won’t go into any business that isn't good for the country or may tarnish the company’s reputation. A good name is more important than a successful business."

Mr. Alfonso Yuchengco is regarded as a great businessman. He knows that his economic power is very much welcome. He is proud on his Chinese descent, as well on his Philippine citizenship.
He remarked when asked about his Chinese roots, "Can you show me one Filipino who is not a 100-percent Filipino?"
And this is not only a lip-service. Mr. Alfonso Yuchengco during the term of presidents Aquino and Ramos for five years become the Philippine ambassador in Red China and in Japan. He approves stronger relationships between the ASEAN-Countries as counterbalance to an economically strong Japan.

Mr. Alfonso Yuchengco is also a philanthropist. One percent of his business-profit is given away for his AY Foundation.
His core values: discipline, diligence, honesty and pride in being a Filipino citizen.
He promoted dicipline by initiating an expensive "National Discipline Award" given to approximately 500 high school students that comes with a cash price.
Yunchengco is also known to donate large sum of amounts to universities.
To see the complete list of the Top 40 Richest Filipinos, click here.

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