Bilyonaryo - Business

Natakot sa Covid? Mike Tan, Jeffrey Ng, Joseph Sy, Cecilio banner lean BBM business delegation to China

January 5, 2023

Bilyonaryo.com

Less than half of the bilyonaryos and top executives who reportedly signed up for President Marcos’ business delegation had backed out of the state visit to China.

A source said the only big names who dared to fly to China amid the spike in COVID cases were LT Group president Michael Tan (son of ultra bilyonaryo Lucio Tan), Jeffrey Ng (owner of Cathay Steel and Cathay Land), Global Ferronickel Holdings chairman Joseph Sy, and Cecilio Pedro (Lamoiyan-Hapee group president and CEO).

READ: Walang atrasan? Top bilyonaryos, business execs to join Bongbong Marcos’ state visit to Covid-ravaged China

Philippine Chamber of Commerce and Industries (PCCI) president George Barcelon, the only high-profile business organization leader in the group, said 40 businessmen joined Marcos in his state visit to China from January 3 to 5.

Even Federation of Filipino Chinese Chambers of Commerce and Industry Inc. president Henry Lim Bon Liong was notably missing from the delegation.

It was Lim himself who revealed that up to 85 tycoons and business leaders would join Marcos’ delegation to China.

ALSO READ: ‘Di pwedeng i-postpone! China assures COVID ‘bubble’ for safety of Marcos during state visit

Lim even named San Miguel Corp. president and CEO Ramon S. Ang, BDO Unibank chairman Tessie Sy-Coson, Ayala Corp. chairman Jaime Augusto Zobel de Ayala, and Presidential Adviser and Aboitiz Equity Ventures president Sabin Aboitiz mong the prominent names expected to accompany Marcos during the trip.

Among the economic managers, only Finance Secretary Benjamin Diokno and Trade Secretary Alfredo Pascual joined the President.

viber_image_2023-01-06_07-43-53-748 - Bilyonaryo Business News — <strong><em>Business delegation with President Bongbong Marcos and DTI Secretary Fred Pascual at lobby of St Regis Hotel in Beijing just before departure on January 5 2023<em><strong>

A source said most bilyonaryos were spooked by the explosive Covid outbreak in China which the World Health Organization claimed has been underreported by authorities.

The source said most of them felt it was not worth going into a high risk area given the strict protocols during the visit (which limited the interaction with the President and other officials).

In contrast, then President Rodrigo Duterte’s meeting with President Xi Jinping in 2016 was a blockbuster with the biggest bilyonaryos present during the five-day state visit.

Related News Tags: Cecilio Pedro, China, Covid-19, Jeffrey Ng, Joseph Sy, Mike Tan, president Marcos, state visit

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