Marianas' Filipino tycoon

Guam, US Territory – Businessman Ricky Delgado scored another business coup with the entry of Japanese conglomerate Itochu Petroleum into Ricky’s IP&E or Isla Petroleum and Energy. IP&E is currently one of the major suppliers of petroleum in the island of Guam and Saipan. By the year 2014, when the US military base in Okinawa will be relocated to Guam, IP&E will be the biggest supplier of petroleum for the US Armed Forces. The Japanese conglomerate bought a 25 percent stake in the company for an undisclosed amount. Jose Ricardo Delgado Jr., Ricky’s namesake and son who runs IP&E, told us the Japanese equity will boost the company’s funding for future expansion plans possibly from the Philippines all the way to Hawaii. Another Guam-based Delgado company IT&E, a telecoms firm, recently obtained an $8 million grant to expand its broadband capabilities which includes the replacement of existing inter-island services and the use of 3G wireless and Wi-Max technology within the CNMI (Commonwealth of the Northern Mariana Islands) and Guam.

 Ricky’s venture in Guam started in 2001 when the family-owned Citadel Holdings along with a partner tried to purchase Verizon’s Guam franchise, which met with a lot of government opposition since preference was for local or US ownership. While there were foreign-owned long distance companies in the territory, none of them were allowed to control the local network due to “security concerns.” Ricky Jr. recalls that during one of the hearings, a Guam congressman even questioned his qualifications to run the company. But that’s all water under the bridge now, because Verizon was finally purchased in 2005 – which is a big deal considering that Guam is a US territory and the US government is extremely concerned with security most especially after 9-11. To counter the US apprehension, Ricky made sure he had members of the board familiar and acceptable to the US government like Norb Garrett, a former US intelligence official and currently the chairman of Weber Shandwick Phils. (WSP), and Atty. Mike Toledo, CEO of WSP. Also member of the board and legal counsel for the Delgado group is Atty. Avelino “Abe” Cruz of ACCRA law.

Ricky’s roots

Ricky Delgado traces his roots to Valladolid, Spain where the Delgado family first started. According to him, their ancestors come from Spanish-Jewish descent, which probably explains some of Ricky’s business skills in identifying business opportunities. The Jewish people are probably among the most resilient of races considering the persecution they received from Valladolid-born Tomas de Torquemada who instituted the persecution of Jews and non-Catholics through the infamous Inquisition, and then later from Adolf Hitler who authored the Holocaust, which systematically purged six million Jews all over Europe.

Ricky’s mother is of Chinese ancestry being a Chuidian and his father, Don Paco Delgado also has Chinese heritage. Ricky, who drives himself around Guam in a Toyota Vios, has probably parlayed this ancestry into what his company has become today – built on hard work, financial discipline and very good business instincts.

Foot in Guam

The population in Guam is expected to increase dramatically over the next three years when the transfer of the US military base from Okinawa in Japan is completed by 2014. Said to be the biggest military buildup in the Pacific since the Second World War, American troops and their families plus thousands of workers will significantly add to Guam’s estimated 178,340 population with Filipinos comprising 26.3 percent of the total. The last time we visited Guam was about 15 years ago with the economic landscape dramatically changing with major US retail stores like Macy’s and K-Mart established. Guam (as well as Saipan) has become a major tourism hub for many visitors from Taiwan, Hong Kong, Korea, Japan and the Philippines. Guam politics is still very much dominated by the Camacho and Calvo families, with outgoing governor Felix Camacho exchanging sharp words a few months ago with gubernatorial candidate, Sen. Eddie Calvo, who won in the recent November elections. Filipino businessmen Ricky Delgado and taipan Lucio Tan, who owns the biggest mall in Guam, have already established a strong foothold in the US territory giving many Guamanian-Filipinos something to be proud of.

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