If successful, both concepts will be open for franchising in the future.
Right now, Delifrance chief executive officer Miguel Jose Navarrete has been busy "Filipinizing" the menu of the Singapore-based chain. This is, of course, nothing new to Delifrances Philippine master franchise, Jollibee Foods Corp.
As everybody knows, Delifrance Phils. is a subsidiary of JFC. Fact is, Mike Navarrete is concurrent JFC chief financial officer Mr. Navarettes wife, Regina Navarrete is president and chief executive officer of another JFC subsidiary, Greenwhich Pizza Co.
La Suerte is using the same machines and technology during its years as the Philippine licensed manufacturer of Philip Morris/Marlboro a major factor why Memphis is priced more cheaply than the foreign brands. Besides, it no longer has to pay royalty.
Well, the latest list still has Lucio Tan as the countrys richest and the worlds 209th richest, with a net worth of $1.9 billion. The countrys second richest man and the worlds 348th richest is Henry Sy.
Not included in the list is Ayala Corp. chairman Jaime Zobel de Ayala and family.
As everybody knows, microfinance is the buzzword of choice of Monetary Board chairman and concurrent Bangko Sentral Governor Rafael Buenaventura. So far, the number of microfinance institutions approved by the Bangko Sentral can be counted in one hand.
For small loans ranging from P5,000 to P15,000, Quedancor charges a monthly interest of 1.7 percent less than the 3.25 percent to 3.5 percent a month charged by credit card companies and the six percent to eight percent a month charged by lending investors.
Quedancor can charge lower rates because it has developed a Philippine variant to the Grameen model called self-reliant team of SRT. Basically, SRT does away with the overhead cost of social workers and collectors and instead rewards the team leader of a group of borrowers by sharing with him a percent of what he collects.