Skip to content
  • About Us
  • Contact Us
  • RSS
Facebook Twitter Instagram
  • Home
  • Business
  • Social
  • Video
  • Money
  • Power
  • Property
  • Travel
  • Technology
  • Health
  • Lifestyle
  • Food & Nature
  • Fine Works
  • Golf
Menu
  • Home
  • Business
  • Social
  • Video
  • Money
  • Power
  • Property
  • Travel
  • Technology
  • Health
  • Lifestyle
  • Food & Nature
  • Fine Works
  • Golf
BILYONARYO.COM
Search
Popular Tags Today:
Annabelle Chua, Danny Yu, PLDT |
JM Lapiña, JML Capital |
Manny V. Pangilinan |
SGV& Co., Wilson P. Tan |
Colegio de San Agustin
  • Home
  • Business
  • Social
  • Video
  • Money
  • Property
  • Technology
  • Travel
  • Health
  • Lifestyle
  • Food & Nature
  • Fine Works
  • Golf
  • RSS
Menu
  • Home
  • Business
  • Social
  • Video
  • Money
  • Property
  • Technology
  • Travel
  • Health
  • Lifestyle
  • Food & Nature
  • Fine Works
  • Golf
  • RSS

Bilyonaryo - Business

How Megawide rose to success with the help of the Philippines’ richest family

  • March 8, 2023
  • Bilyonaryo.com

Business magnate Edgar Saavedra’s story is a testament to the power of hard work and determination, and the invaluable support of those who believe in your dreams.

As the man behind Megawide Construction Corp., one of the leading construction firms in the Philippines, Saavedra, will forever be grateful to the Sys, the wealthiest family in the Philippines, for their support over the years.

ALSO READ:

Nurturing the next generation: Edgar Saavedra’s three-pronged approach to leadership

Living Simply, Building Big: The Saavedra Way

Saavedra acknowledged that the Sys were the first major client that gave Megawide its big break, and even invested in his company’s initial public offering in 2011.

In an interview with Ces Oreña-Drilon on Usapang Bilyonaryo, Saavedra recalled how he started with family and friends’ projects, gradually moving up to larger commercial buildings and condominiums.

However, it was SM Development Corporation’s project that brought Megawide to the attention of the Sy family.

Bilyonaryo Henry “Big Boy” Sy Jr., who was leading the project, approached Saavedra to help with the design and expansion of the SM Group’s residential real estate development arm when it was still new in the market.

“Big Boy, si boss, sabi niya Edgar I want to build this, can you help us do design and help me how can I expand. At that time, isang project pa lang si SMDC non,” he noted.

“And at that time, we were already expanding doing prefab in construction but in a smaller scale,” Saavedra said.

Impressed by Megawide’s work, Saavedra said that the Sy family invested 20 percent during Megawide’s IPO, which they divested after five years.

“They invested 20 percent during the IPO. That’s why we are also very thankful to the Sy family, they invested and then they divested after five years,” Saavedra said.

Saavedra also expressed gratitude to the Sy family’s banking arm BDO as well as other local banks such as Yuchengco-led Rizal Commercial Banking Corp., Land Bank of the Philippines, and the Development Bank of the Philippines which have been supportive of Megawide over the years.

He said Megawide’s good track record, sound governance, and well-established system have earned the trust of these banks.

“So, every time I do business, I make sure I also consult them if they’re willing to fund it. This is also important,” he added.

  • Related News Tags: Edgar Saavedra, Megawide, Sy family
PrevPreviousWrecking ball: Lopez family to demolish iconic ABS-CBN headquarters
NextFighting inflation: Makati Business Club urges government to address profiteeringNext

You may also like

Watch more Usapang Bilyonaryo

UnionBank Named Best Retail Bank In The Philippines Four Years In A Row!

At the most rigorous, prestigious, and transparent annual awards program to recognize institutional and individual leadership in retail financial services in the Asia Pacific region, UnionBank was lauded for once again outperforming its peers. The Asian Banker’s Global Excellence in Retail Financial Services Awards Programme 2023, held last March at the Lotte Hotel in Hanoi, Vietnam, recognized UnionBank with its 4th consecutive BEST RETAIL BANK in the Philippines award and honored for being voted the MOST RECOMMENDED RETAIL BANK in the Philippines.

Build, Better, More: Bongbong Marcos vows to improve infrastructure landscape

President Ferdinand Marcos Jr. has pledged to continue pushing for more infrastructure projects that will enhance the connectivity of the country’s road networks.

Harsh goodbye: MVP dumps Annabelle Chua from Meralco board after 7 years, picks Metro Pacific CFO Chaye Cabal-Revilla as new director

Manila Electric Co. (Meralco) chaired by bilyonaryo Manny V. Pangilinan has ditched his long-time executive Annabelle Chua from the utility firm’s board.

Grab’s expansion sparks concerns over monopoly in Philippine transport sector

A network of digital advocates is urging the Philippine Competition Commission (PCC) to take action as Grab Philippines seeks to dominate the country’s transportation sector.

Gokongwei-led JG Summit takes hit from peso devaluation, profit plummets in 2022

The Gokongwei conglomerate, JG Summit Holdings Inc., saw a significant plunge in earnings last year to P700 million, largely due to the impact of its US dollar-denominated debt amid the devaluation of the peso.

UnionBank Named Best Retail Bank In The Philippines Four Years In A Row!

Build, Better, More: Bongbong Marcos vows to improve infrastructure landscape

Harsh goodbye: MVP dumps Annabelle Chua from Meralco board after 7 years, picks Metro Pacific CFO Chaye Cabal-Revilla as new director

Grab’s expansion sparks concerns over monopoly in Philippine transport sector

Gokongwei-led JG Summit takes hit from peso devaluation, profit plummets in 2022

Ayalas join forces with Zero Motorcycles for full-sized electric bikes

Lack of probable cause, insufficient evidence lead to dismissal of P89M tax evasion case vs Joseph Calata, Agri Phil

You complete me: Leviste picks MVP over Total, Kepco, Mitsubishi as ‘big brother’ to fulfill SPNEC’s vision to be a solar powerhouse

Need for speed: RSA to build race track in Bulacan aerocity – report

Read more Business stories

Recommended from sister websites

→ Abogado
NBI arrests 4 over fraudulent sale of GCash accounts
→ Abogado
‘Wag paloloko! CAAP warns public about solicitation scheme
→ Politiko
No friendly rates: Ex-politiko rakes in P400 M from campaign ads in 2022
→ Politiko
State of the art! PPA GM Jay Santiago opens new Calapan port ahead of Holy Week travel rush
→ Bankero
BSP boosts Islamic finance expertise to lure investments in the Philippines
Power

Philippine fishermen struggle as oil spill keeps them ashore

A crab covered in oil creeps across the sand as Philippine fishermen wearing white protective suits, rubber gloves, and respirator masks scrape toxic sludge from the rocks along the shore.

Money

Teddy Limcaoco named as BAP’s new president

Bank of Philippine Islands’ chief executive Jose Teodoro K. Limcaoco, has been elected as the new president of the Bankers Association of the Philippines (BAP), replacing East West Banking Corp. vice chair Antonio Moncupa Jr.

Business

Build, Better, More: Bongbong Marcos vows to improve infrastructure landscape

President Ferdinand Marcos Jr. has pledged to continue pushing for more infrastructure projects that will enhance the connectivity of the country’s road networks.

Property

Ayala Land raises P6.58B through block sale of AREIT shares

Ayala Land Inc. (ALI), one of the largest property developers in the Philippines, has successfully raised P6.58 billion through a block sale of shares in AREIT Inc., a real estate investment trust owned by the Ayala family.

Latest on Bilyonaryo

Ben Chan’s unforgettable dining experience at Lolla in Singapore

Ben Chan recently had an extraordinary dining experience at Lolla in Singapore that he will never forget.

Read More »

UnionBank Named Best Retail Bank In The Philippines Four Years In A Row!

At the most rigorous, prestigious, and transparent annual awards program to recognize institutional and individual leadership in retail financial services in the Asia Pacific region, UnionBank was lauded for once again outperforming its peers. The Asian Banker’s Global Excellence in Retail Financial Services Awards Programme 2023, held last March at the Lotte Hotel in Hanoi, Vietnam, recognized UnionBank with its 4th consecutive BEST RETAIL BANK in the Philippines award and honored for being voted the MOST RECOMMENDED RETAIL BANK in the Philippines.

Read More »

China, Brazil strike deal to ditch dollar for trade

China and Brazil have reached a deal to trade in their own currencies, ditching the US dollar as an intermediary, the Brazilian government said Wednesday, Beijing’s latest salvo against the almighty greenback. The deal will enable China, the top rival to US economic hegemony, and

Read More »

Build, Better, More: Bongbong Marcos vows to improve infrastructure landscape

President Ferdinand Marcos Jr. has pledged to continue pushing for more infrastructure projects that will enhance the connectivity of the country’s road networks.

Read More »

Royal fashionista KC Del Rosario turns up the heat with latest Instagram post

KC Del Rosario, the daughter of Brunei Prince Jefri Bolkiah, has set the internet ablaze with her latest Instagram post.

Read More »

Atticus King stresses the significance of family health with Instagram photos

Family always comes first for Atticus King, who recently shared a glimpse of his family life on Instagram.

Read More »
Back to Bilyonaryo.com homepage

Exclusive!

Who’s Who at ART SG

January 12, 2023

Art SG kicked off today with art world legends and collectors showing up with extra vigor after a two-year delay due to the pandemic.

Read More »

Advertisement

Bilyonaryo Premium Ad 1
Bilyonaryo Premium Ad 2
Bilyonaryo Premium Ad 3
Bilyonaryo Premium Ad 4
Bilyonaryo Premium Ad 5

Trending on
Business

GOLD
Where is Annabelle Chua? Under fire CFO didn’t sign PLDT’s income report amid P48 billion capex scandal; Danny Yu pinch-hits despite being appointed only 4 months ago

Yuchengco-led RCBC offloads two real estate subsidiaries to Gotianun family

Sablay na, tiba-tiba pa! MVP showers PLDT execs with 54% hike in pay and perks to P2.2 billion amid overspending scandal, profit collapse

PLATINUM
Deposit box ain’t so safe: Jorge, Stella Araneta sue JPMorgan for selling $10-M worth of jewelry for peanuts

‘Di na natuto sa Quorn! Monde invests P108M for tiny stake in koji-based fake meat maker Terramino

Boardroom drama: Top exec storms out of boardroom meeting after getting called out by bilyonaryo director for poor performance

TITANIUM
Even the best fall down sometimes: Here are biggest fast food flops of Tony Tan Caktiong’s Jollibee

Betty Ang’s fake meat flop! Monde chucks Quorn’s 2023 opex amid stinking sales, diverts P2.1 billion budget to core brands in Asia

Gift daw from Kapitan! Lucio Tan’s trusted aide nabbed for P12-M extortion try after tip from his son-in-law Stanley Ng

Read more Business stories

Trending on
Bilyonaryo

Business News

Where is Annabelle Chua? Under fire CFO didn’t sign PLDT’s income report amid P48 billion capex scandal; Danny Yu pinch-hits despite being appointed only 4 months ago

Social Fancy News

Kapag tumibok ang puso! Yong Larrazabal shares how he won Donna Cruz’s heart

Money News

Land Bank-DBP merger to create Philippines’ biggest bank

Technology News

Negative for drugs: PayMongo’s Luis Sia disproves employees’ claims

Power News

Meralco diversifies into alternative energy with Movem Electric

Property News

Gotianuns to add two directors in Filinvest board

Lifestyle News

China arrests four over major anime piracy site: lobby group

Food & Nature News

Cancer-causing compounds found in everyday food

Health News

Raccoon dog data sparks new debate about Covid origins

Travel News

Cebu Pacific reduces net loss by nearly 44% in 2022 amid recovery of passenger business

Golf News

Burns routs Young to win WGC Match Play final

Back to Bilyonaryo home page

Trending on
Bilyonaryo

Business News

• Where is Annabelle Chua? Under fire CFO didn’t sign PLDT’s income report amid P48 billion capex scandal; Danny Yu pinch-hits despite being appointed only 4 months ago

• Yuchengco-led RCBC offloads two real estate subsidiaries to Gotianun family

Social Fancy News

• Kapag tumibok ang puso! Yong Larrazabal shares how he won Donna Cruz’s heart

• Stage dad alert! JAZA beams as Mariana joins list of inspiring Pinays

Money News

• Land Bank-DBP merger to create Philippines’ biggest bank

• Sun Life keeps top spot in life insurance

Technology News

• Negative for drugs: PayMongo’s Luis Sia disproves employees’ claims

• Germany mulls placing Microsoft under close watch

Power News

• Meralco diversifies into alternative energy with Movem Electric

• Pampanga-based SFELAPCO launches competitive selection process for new power generator

Property News

• Gotianuns to add two directors in Filinvest board

• Gotianun family’s property arm takes a hit: Filinvest Land profit falls in 2022

Lifestyle News

• China arrests four over major anime piracy site: lobby group

• Blue, German blood: the Windsors’ continental roots

Food & Nature News

• Cancer-causing compounds found in everyday food

•

Health News

• Raccoon dog data sparks new debate about Covid origins

•

Travel News

• Cebu Pacific reduces net loss by nearly 44% in 2022 amid recovery of passenger business

•

Golf News

• Burns routs Young to win WGC Match Play final

• Newcomer Kho claims maiden Asian Tour victory for Hong Kong

Back to Bilyonaryo home page

Copyright © 2022. Bilyonaryo. All Rights Reserved.
  • Home
  • Business
  • Social
  • Video
  • Money
  • Property
  • Technology
  • Travel
  • Health
  • Lifestyle
  • Food & Nature
  • Fine Works
  • Golf
  • RSS
Menu
  • Home
  • Business
  • Social
  • Video
  • Money
  • Property
  • Technology
  • Travel
  • Health
  • Lifestyle
  • Food & Nature
  • Fine Works
  • Golf
  • RSS