A combination of a delicate natural environment and increasing poverty is encouraging the son of a billionaire business founder to improve their company's sustainable and social efforts.is based in the Philippines, which — being an archipelago of more than 7,000 islands — is particularly susceptible to the effects of climate change, as CEO Kevin Tan described.
Founded by Tan's father Andrew Tan in 1993, Alliance Global operates in real estate, hospitality and food, with assets including casino and hotel complex Resorts World Manila, and the world's largest brandy distiller, Emperador.
The firm's net income reduced by 62% year-over-year to 10.3 billion pesos in 2020, although several of its businesses recovered during the fourth quarter. McDonald's revenue went up 36% compared with the previous quarter, while liquor sales at Emperador rose 42% over the same period. When it comes to economic development, Tan said the company's Megaworld "township" residential and office complexes are creating jobs. He singled out Iloilo, a development on the Philippines' Panay Island, where there is a focus on business process outsourcing , a practice where firms contract some of their operations to external suppliers. Such BPO companies are growing — and they need office space, Tan said.