Cebuano is finalist for entrepreneur of the year

CEBU, Philippines – A young Cebuano businessman is one of the finalists of this year's "Entrepreneur of the Year Philippines 2010" of Ernst and Young and SGV Foundation. 

Gabino Abejo Jr., 27, earned the distinction for his vision of transforming his family's company, the Abejo Builders Corporation, from doing small piping projects to major supplier of water to the Metropolitan Cebu Water District and for his efforts to provide water to poor communities.

Abejo dissolved Abejo Waters Inc. and turned Abejo Builders Corporation into Abejo Waters Corporation.

Despite his experience in the water industry with his water refilling station in Mactan, Abejo partnered with a Manila-based water distribution consultant to boost his knowledge about the industry.

Abejo Waters Corporation won a bid to supply MCWD a minimum of 4,000 cubic meters of potable water a day to be distributed in Talisay City. From one contract to another, and despite being a greenhorn in the water business, the company subsequently started supplying MCWD with up to 15,000 cubic meters a day.

To date, the company has an ongoing construction of 4,000 cubic meters per day bulk water system, which is expected to be operational by January 2011.

Abejo's selling price to water utility firms in Metro Cebu is said to be much lower than the retail price to consumers, which prevented an increase in water rates.

Believing in the ideals of corporate social responsibility, Abejo also launched the "Barangayan Water Project" in which water connections and communal faucets were provided to about 15 areas where residents cannot afford water pipes and other materials for water connections - the water available 24 hours, seven days a week.

He later expanded the project by installing water meters in every home and providing direct water access to residents in the barangays.

Abejo, a graduate of Northwood University in Florida, was chosen from among 100 entrepreneurs nominated nationwide. Of the 18 finalists, only five will be awarded during the Awards Night on October 12, 2010 at the Makati Shangri-La in Manila from whom one will emerge "Entrepreneur of the Year" who will represent the Philippines in the worldwide search slated next year.

The "Entrepreneur of the Year" search was launched to recognize and encourage Filipino entrepreneurs to help bring progress to the country with their businesses. This year's theme is "Believe." (FREEMAN)