Hardware sector benefit from real estate boom

CEBU, Philippines - Major players of the hardware industry seems to enjoy the vibrant economic growth of Cebu, attributing the commercial progress with the real estate boom, increasing demand from the construction sector, growing businesses especially from business tycoons and sustained flow of remittances from Overseas Filipino Workers.

This is according to Jaime Sy of Ho Tong Hardware, Inc. who also acted as the immediate past president of Hardware Consolidated, Inc. (HCI).

In a press conference last Tuesday, he noted buildings and infrastructures have been sprouting like mushrooms in the Cebu province thus making the local market bigger and increasing the demand thereafter.

He added that it subsequently causes a ripple effect to the growth of the private sector as more players are venturing into the hardware business.

The hardware demand, he said, is fueled with various economic factors that puts Cebu as an ideal place of investment.

Evident to such growth is fast-changing skyline of Cebu with the establishment and ongoing construction of condominiums, buildings, offices, houses, convention centers and hotels in the area.

He cited that for industrial hardware, the growing demand usually comes from cement companies, factories, marine industry, sugar mills and construction sector.

Finishing materials, on the other hand, supply the interior needs for condominiums, housing and other real estate projects.

“The hardware industry is a competitive business. People are still buying and continuing to buy. We,as members of HCI, may sound the same but we specialize in different fields. It’s a friendly competition after all, If Cebu becomes progressive, it’s good for all our businesses. Something is really brewing up here in Cebu,” Sy stated.

This March 2, HCI shall celebrate its 50th anniversary and hold its 21st conduction of officers at the Marco Polo Plaza Cebu Hotel.

HCI currently has 56 to 60 members in Cebu.

Anthony Lim of Asia’s Best Industrial Sales Corp. who is this year’s HCI president pointed out that it has been the tradition of the organization to invite guests from other countries in Southeast Asia during its induction of officers to further encourage foreign investments for expansion in the Philippines.

This Saturday, members of the hardware association from Malaysia will come to Cebu for the HCI event.

Last year, Taiwanese hardware men participated in the induction.

Lim further cited that this year, the organization aims to give back by implementing programs for their corporate social responsibility which will include dental and medical missions, operation tuli, feeding programs, charity works, partnership with companies and non-government agencies such as Gawad Kalinga

The second generation of hardware men also plans team up with schools and universities in Cebu to conduct job fairs for the fresh graduates this coming March.

Aside from supporting good quality hardware materials at a cheaper cost, the organization constantly coordinates and communicates with the Department of Trade and Industry to prevent substandard products being sold in the market.

Together with Lim, other 2013 HCI officers who will be inducted tomorrow include Jason Yu of Hardwarehaus Cebu, Inc. as vice president – internal, Pablo Lim of Sachem Marketing as vice president – external, HCI legal counsel Atty. Vicente Cordero as secretary, Domingo Garcia of Pentax Hardware, Inc. as treasurer, Carmela Ang of B. Benedicto Sons Co., Inc. as auditor, and Henry Kua of Hammer Luck Hardware, Inc. as public relations officer.

Meanwhile, the Board of Trustees is composed of Jennifer Lim of Alliance Hardware, Inc., Steven Villabert of Treasure Island Industrial Corp., Maria Evelyn Tan of Vic Enterprises, Alex Oh of Cebu Eastern Hardware, Michael Ho of Cebu Young Hardware, Inc., Francis Walter Ong of Worldwide Steel Corporation, Charles Bongien Ong of Juasing Hardware, Inc. and Sy.

HCI started on August 8, 1963 as a non-stock, non-profit corporation with the aggressive vision to represent the industry stakeholders engaged in hardware and construction commercial activities.

The organization was founded by James Ferrero Lim of Lim Bonfing Sons, Inc., Felimon Go of Go Occo & Co., Co Tiong of Cebu Oversea Hardware Co., Inc.; Antonio Chua Ng Koa of Cathay Hardware, Vicente Oh Cong Sui of Eastern Hardware, Pantaleon Cimafranca of Ho Tong Hardware Inc., Samson Y. Ong of Valtaw General Merchandising, Ang Soc Poe of Ang Teico Sons Co., and Francisco L. Benedicto of B. Benedicto & Sons Co., Inc. (FREEMAN)