Ian Sayson
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Articles by Ian Sayson
Mynt’s Record Philippine IPO Ends Flat In First Trading Day
Philippine President Ferdinand Marcos Jr rings the bell to start the trading of Mynt, the nation's biggest-ever IPO. On his left is Mynt CEO Martha Sazon. Mynt Shares of Mynt—owner of GCash,the Philippines’ largest digital wallet operator—ended flat on its first trading day after completing the nation’s record IPO that raised 60.9 billion pesos ($966 million). The stock closed at its 6.60 peso a share IPO price on its trading debut, retreating from as high as 6.76 pesos earlier in the day.
Billionaire Lucio Tan-backed PNB Holdings plans $205-million Philippine skyscraper
PNB Holdings—controlled by billionaire Lucio Tan 's Philippine National Bank—is planning to build a skyscraper in the Makati central business district as the lender's real estate arm seeks to unlock the value of its legacy assets. The company aims to build a 280-meter tower on the site of an 8,000-square meter carpark in the Makati CBD.
Billionaire Lucio Tan-Backed PNB Holdings Plans $205-Million Philippine Skyscraper
The Makati central business district. getty PNB Holdings—controlled by billionaire Lucio Tan’s Philippine National Bank—is planning to build a skyscraper in the Makati central business district as the lender’s real estate arm seeks to unlock the value of its legacy assets. The company aims to build a 280-meter tower on the site of an 8,000-square meter carpark in the Makati CBD.
Billionaire Ramon Ang's San Miguel sells stake in Manila Electric to Metro Pacific for $197.5 million
A unit of San Miguel—controlled by billionaire Ramon Ang —is selling a 1.9% stake in power retailer Manila Electric for 12.4 billion pesos ($197.5 million) to Metro Pacific Investments. San Miguel Global Power Holdings, a wholly-owned unit of the Philippine brewer and infrastructure company, has agreed to sell 21.4 million Manila Electric shares at 580.99 pesos each, San Miguel said in a disclosure to the stock exchange.
Billionaire Ramon Ang’s San Miguel Sells Stake In Manila Electric To Metro Pacific For $197.5 Million
Ramon Ang, chairman and CEO of San Miguel Jinggo Montenejo for Forbes Asia A unit of San Miguel—controlled by billionaire Ramon Ang—is selling a 1.9% stake in power retailer Manila Electric for 12.4 billion pesos ($197.5 million) to Metro Pacific Investments. San Miguel Global Power Holdings, a wholly-owned unit of the Philippine brewer and infrastructure company, has agreed to sell 21.4 million Manila Electric shares at 580.99 pesos each, San Miguel said in a disclosure to the stock exchange.
Malaysian Billionaire Brothers Deepen Marriott Ties With Four New Hotel Projects
An artist's rendition of W Langkawi IOI Properties IOI Properties Group—controlled by billionaire brothers Lee Yeow Seng and Lee Yeow Chor—is broadening its partnership with Marriott International as it gears up to open four new hotels across Malaysia in the next six years to tap the travel boom. Kuala Lumpur-listed IOI Properties will add four new hotels to be managed by Marriott from 2030 to 2032.
Space Investment Reaches $23B As Investors Favor Revenue And Reliability
Private investment in space companies more than doubled to $23 billion in the 12 months through June, as investors shifted toward businesses with proven performance, visible revenue and clearer paths to profitability, according to a review by Seraphim and Relm Insurance released Wednesday. The number of deals rose more modestly to 620 from 582 a year earlier, indicating that the capital increase was concentrated in fewer, larger or more established opportunities.
Japan’s Mitsubishi To Triple Stake In Philippine Conglomerate Ayala In $711 Million Deal
Mitsubishi Corp., one of Japan’s largest trading companies, will spend up to 44.6 billion pesos ($711 million) to triple its stake in Ayala Corp., the oldest Philippine conglomerate controlled by tycoon Jaime Zobel de Ayala and his family. Under the deal, Mitsubishi will buy 68.6 million primary and secondary shares at 650 pesos each, boosting its stake in Manila-based Ayala to 15% from 4.7%.
Japan's Mitsubishi to triple stake in Philippine conglomerate Ayala in $711 million deal
[id=NaN] Mitsubishi Corp., one of Japan's largest trading companies, will spend up to 44.6 billion pesos ($711 million) to triple its stake in Ayala Corp., the oldest Philippine conglomerate controlled by tycoon Jaime Zobel de Ayala and his family. Under the deal, Mitsubishi will buy 68.6 million primary and secondary shares at 650 pesos each, boosting its stake in Manila-based Ayala to 15% from 4.7%.
Japan’s Mitsubishi To Triple Stake In Philippine Conglomerate Ayala In $711 Million Deal
[id=NaN] Mitsubishi Corp., one of Japan’s largest trading companies, will spend up to 44.6 billion pesos ($711 million) to triple its stake in Ayala Corp., the oldest Philippine conglomerate controlled by tycoon Jaime Zobel de Ayala and his family. Under the deal, Mitsubishi will buy 68.6 million primary and secondary shares at 650 pesos each, boosting its stake in Manila-based Ayala to 15% from 4.7%.
Thai Billionaire’s Frasers Property Buys Prime Singapore Restaurant Space For $138 Million From Royal Holdings Original
The Cuppage Terrace, a cluster of shophouses occupied by bars and restaurants in the Orchard Road shopping belt. Frasers Property Frasers Property—controlled by Thai billionaire Charoen Sirivadhanabhakdi—has bought a cluster of prime food and beverage shophouses in the Orchard Road shopping belt for S$175 million ($138 million) from privately held Royal Holdings.
Thai Billionaire’s Frasers Property Buys Prime Singapore Restaurant Space For $138 Million From Royal Holdings
Marina Square mall to close in March 2027 for redevelopment SINGAPORE: Marina Square Shopping Mall will close on Mar 31 next year as part of a redevelopment of the area that will add luxury homes, a new hotel, …
Malaysian energy tycoon Lim Hang Weng in talks to take Yinson Holdings private in $1.7 billion deal
Energy tycoon Lim Hang Weng and his family are in talks with Malaysia's Employees Provident Fund and shipping firm MISC to buy the rest of Kuala Lumpur-listed Yinson Holdings in a potential deal valuing the company at 6.9 billion ringgit ($1.7 billion).
Malaysian Energy Tycoon Lim Hang Weng In Talks To Take Yinson Holdings Private In $1.7 Billion Deal
A floating production, storage and offloading vessel built by Yinson. Courtesy of Yinson Holdings Energy tycoon Lim Hang Weng and his family are in talks with Malaysia’s Employees Provident Fund and shipping firm MISC to buy the rest of Kuala Lumpur-listed Yinson Holdings in a potential deal valuing the company at 6.9 billion ringgit ($1.7 billion).
Malaysian Energy Tycoon Lim Hang Weng In Talks To Take Yinson Holdings Private In $1.7 Billion Deal
Published on August 29, 2026 A floating production, storage and offloading vessel built by Yinson. Courtesy of Yinson Holdings Yinson Legacy—the Lim family’s privately held holding company—and EPF are among the biggest shareholders of Yinson Holdings, which Lim and his wife, Bah Kim Lian, started in 1984 as a transport and trading business that they transformed into an energy infrastructure company.
Philippine Airlines Orders Up To 20 Boeing 787 Dreamliners
<p>Philippine Airlines (PAL)âcontrolled by banking and tobacco tycoon Lucio Tanâsaid itâs ordering up to 20 Boeing 787-10 Dreamliner jets to modernize its fleet amid a travel boom.</p>
Philippines' Ayala Land to sell up to $492 million worth of properties to its REIT
Ayala Land—controlled by tycoon Jaime Zobel de Ayala and his family—plans to sell up to 30 billion pesos ($492 million) of assets to its real estate investment trust, helping the developer raise funds to bankroll the ongoing revamp of its office buildings, shopping malls and hotels.
Philippine billionaire Ramon Ang buys stake in Lopez family's energy, media group
Billionaire Ramon Ang —the controlling shareholder of Philippine infrastructure and brewery giant San Miguel —has in his personal capacity acquired a quarter of Lopez Inc., a private holding company that has interests in energy, media and real estate. Ang, who is chairman and CEO of San Miguel, acquired 25.7% of Lopez Inc. from one of the branches of the family, the tycoon and Eugenio Lopez III said in a joint statement, without giving the value of the transaction.
Philippine Billionaire Ramon Ang Buys Stake In Lopez Family’s Energy, Media Group
Ramon Ang, chairman and CEO of San Miguel Jinggo Montenejo for Forbes Asia Billionaire Ramon Ang—the controlling shareholder of Philippine infrastructure and brewery giant San Miguel—has in his personal capacity acquired a quarter of Lopez Inc., a private holding company that has interests in energy, media and real estate. Ang, who is chairman and CEO of San Miguel, acquired 25.7% of Lopez Inc.
Record Sales At Hypermarket Chain Puregold Price Club Lands Cofounders Lucio And Susan Co Among The Philippines’ Top Five Richest Original
Lucio Co Nana Buxani/Bloomberg This story is part of Forbes’ coverage of Philippines’ Richest 2026. See the full list here. Lucio and Susan Co, the billionaire cofounders of hypermarket and supermarket chain Puregold Price Club, enter the top five ranks of the country’s richest for the first time at No. 4 with a shared fortune of $3.3 billion, up 10% on year.
Philippine Fast Food Giant Jollibee Eyes Overseas Listing For International Operations Original
Tony Tan Caktiong Jollibee This story is part of Forbes’ coverage of Philippines’ Richest 2026. See the full list here. Restaurant tycoon Tony Tan Caktiong is cooking up a plan to unlock value at his Jollibee Foods, the Philippines’ largest fast food outfit by revenue, by spinning off and listing its international business by late 2027. While the company was originally eyeing a U.S. offering, recent media reports suggest that Hong Kong is another option.
How The Philippines’ Largest Online Gaming Operator Wagered All And Won Original
The pandemic forced DigiPlus Interactive chairman Eusebio Tanco to place his chips on offering bingo online. Now with rivals circling, he’s upping his bet with a new superapp and overseas expansion. This story is part of Forbes’ coverage of Philippines’ Richest 2026. See the full list here. Back in January 2022, as the Philippines hit a record daily Covid-19 case count, Eusebio Tanco, chairman of gaming company DigiPlusInteractive, pushed his chips into place.
Philippine tycoon Andrew Tan's Megaworld selling $437 million of properties to REIT unit
Megaworld Corp. —controlled by billionaire Andrew Tan —is selling 27 billion pesos ($437 million) worth of properties to its unit MREIT in its biggest infusion so far to its real estate investment trust. The transaction—comprising 303,900 square meters of offices, shopping malls and a hotel—will expand MREIT's portfolio to 950,000 square meters, close to its 1-million square-meter target set for 2027, the Manila-based REIT said in a statement to the stock exchange.
Billionaire Lucio Tan’s Philippine Airlines Orders Up To 34 Aircraft From Airbus, Boeing
A Philippine Airlines A350-1000. Philippine Airlines Philippine Airlines (PAL)—controlled by banking and tobacco tycoon Lucio Tan—is stepping up its fleet modernization by ordering up to 20 Boeing 787-10 Dreamliners and as many as 14 Airbus A350-1000 long-haul jets. Under an agreement signed on Monday at the Farnborough International Airshow in the U.K., the Philippine flag carrier committed to purchase at least 15 Dreamliners, with an additional five on option.
Billionaire Lucio Tan's Philippine Airlines orders up to 20 Boeing 787 Dreamliners
Ian Sayson, Forbes Staff Philippine Airlines (PAL)—controlled by banking and tobacco tycoon Lucio Tan —said it's ordering up to 20 Boeing 787-10 Dreamliner jets to modernize its fleet amid a travel boom. Under a preliminary agreement signed during the Farnborough International Airshow in the U.K., the Philippine flag carrier committed to purchase at least 15 Dreamliners, with an additional five on option.
Forbes JAPAN 公式サイト（フォーブス ジャパン）
たばこ・銀行業界の大物であるルシオ・タン氏が支配するフィリピン航空（PAL）は、5年債の発行により3億ドル（約487億円）を調達した。フィリピンのフラッグキャリアである同社の機材近代化と事業拡大の資金に充てる。 同社の声明によると、5年物の優先無担保保証債は7.75%で発行条件が決まり、完全子会社のPrimero Agilaが発行した。応募は発行額の4.5倍に達し、注文額は14億ドル（約2270億円）を超えたという。 PALにとっては、2021年12月に米国で連邦破産法11条の手続きから脱却して以降、初の債券発行となる。調達資金は、シカゴ、ニューヨーク、トロント、バンクーバーなど北米の主要ハブへの便数拡大を目指す同社の国際展開に充てられる。 PALホールディングス社長で、タン氏の孫にあたるルシオ・C・タン3世氏は「今回の画期的な債券発行は、フィリピン航空の変革と、当社の長期ビジョンおよび成長への意欲に対して世界の投資家が寄せる信頼を力強く裏付けるものだ」と述べた。「これにより、当社はネットワークを強化し、顧客の旅行体験を引き続き高めていくことができる」...
Indonesian billionaire Pangestu Prajogo offers $5 billion to buy Philippine geothermal company
Ian Sayson, Forbes Staff Barito Renewables Energy—controlled by Indonesian billionaire Prajogo Pangestu —is seeking to buy Energy Development Corp. (EDC) in a deal valuing the largest Philippine geothermal company at $5 billion. The unsolicited, indicative and non-binding offer for EDC is subject to due diligence and necessary approvals, Manila-based First Gen Corp., the geothermal company's biggest shareholder, said in a statement on Tuesday.
Indonesian Billionaire Pangestu Prajogo Offers $5 Billion To Buy Philippine Geothermal Company
Geothermal power stations of EDC in the Philippines. Courtesy of EDC Barito Renewables Energy—controlled by Indonesian billionaire Prajogo Pangestu—is seeking to buy Energy Development Corp. (EDC) in a deal valuing the largest Philippine geothermal company at $5 billion. The unsolicited, indicative and non-binding offer for EDC is subject to due diligence and necessary approvals, Manila-based First Gen Corp., the geothermal company’s biggest shareholder, said in a statement on Tuesday.
Forbes JAPAN 公式サイト（フォーブス ジャパン）
電子マネー「GCash」を運営し、ハイメ・ソベル・デ・アヤラとその一族が率いるアヤラ・コーポレーション(Ayala Corp.)が出資するMyntのIPO(新規株式公開)が、923億ペソ(15億ドル（約2440億円）)を調達する見通しで、フィリピン史上最大の新規株式公開となる可能性がある。 週末に提出された目論見書(予備)によると、MyntのIPOでは10月の新規株式公開において、オーバーアロットメント・オプションの12億株を含む最大92億3000万株を1株あたり最高10ペソで売り出す計画だ。これは、2021年に10億ドル（約1620億円）を調達したモンデ・ニッシン(Monde Nissin)の上場以来、最大の上場案件となる可能性がある。 IPO価格の上限を基準にすると、Myntの企業価値評価は6690億ペソ(109億ドル（約1兆7700億円）)となる。これは、シー(Sy)一族の中核銀行部門であるフィリピン最大の銀行BDOユニバンクの時価総額6456億ペソを上回る。 グローブ・テレコム(Globe Telecom)や日本の三菱UFJ銀行(MUFG...
Thai Tycoon Revamps Property Business To Unleash Growth Original
Panote Sirivadhanabhakdi Noah Dolinsky for Forbes Asia This story is part of Forbes’ coverage of Thailand’s Richest 2026. See the full list here. Panote Sirivadhanabhakdi, son of liquor tycoon Charoen Sirivadhanabhakdi, has been making moves to revamp the family’s real estate portfolio held by Singapore-listed Frasers Property, which he oversees as group CEO.
Billionaire Lucio Tan's Philippine Airlines raises $300 million in first bond sale post bankruptcy
Philippine Airlines (PAL)—controlled by tobacco and banking tycoon Lucio Tan —has raised $300 million through the sale of five-year bonds, providing funds to help fund the flag carrier's fleet modernization and expansion. The five-year senior unsecured guaranteed bond was priced at 7.75% and issued by wholly owned subsidiary Primero Agila, the Philippine flag carrier said in a statement . The bonds were 4.5 times oversubscribed with an orderbook of more than $1.4 billion, it said.
Jollibee Tycoon-Backed Hotel101 Plans To Invest $200 Million In Thailand Push
DoubleDragon chairman Edgar Sia II and co-chairman Tony Tan Caktiong at the groundbreaking ceremony of Hotel101-Niseko in August 2023. DoubleDragon Photos for Forbes Hotel101 Global—a unit of DoubleDragon, the joint venture of tycoon Tony Tan Caktiong (founder of Philippine fastfood giant Jollibee Foods) and real estate magnate Edgar Sia II—is expanding into Thailand with a plan to invest $200 million to build three hotels in Southeast Asia’s top tourist destination.
Fintech Unicorn GCash To Raise $1.5 Billion In What Could Be The Philippines’ Biggest IPO
Gcash is among the popular digital payment options in the Philippines. © 2023 Bloomberg Finance LP The IPO of Mynt—operator of e-wallet GCash and backed by Jaime Zobel de Ayala and his family’s Ayala Corp.—is raising 92.3 billion pesos ($1.5 billion) in what could be the Philippines’ largest maiden share sale.
Philippine Tycoon Lance Gokongwei Bets On Online Gaming With PhilWeb Deal Original
Lance Gokongwei Sonny Thakur for Forbes Asia Airline-to-property tycoon Lance Gokongwei is investing into online gaming operator and infrastructure provider, PhilWeb, amid a boom in electronic betting in the Philippines. Gokongwei—president and CEO of JG Summit, one of the country’s biggest conglomerates—bought 159.5 million common shares and 93.8 million preferred shares of PhilWeb for 2 billion pesos ($33 million), the Manila-based company said in a stock exchange disclosure.
Philippine Tycoon Federico Lopez-Led First Gen To Invest $407 Million In Geothermal Project Original
Geothermal power stations of EDC in the Philippines. Courtesy of EDC Energy Development Corp. (EDC)—the renewable energy unit of tycoon Federico Lopez and his family’s First Gen Corp.—is deepening its investments in geothermal energy with plans to invest 25 billion pesos ($407 million) to upgrade one of its oldest power plants in the central Philippine island of Negros.
30 Under 30 Asia’s Next Icons: The Gen Z Athletes And Music Artists Rewriting The Playbook
From breaking records on the court to packing arenas and bringing a taste of Asia abroad, this year’s 30 Under 30 Asia Entertainment & Sports stars are unstoppable. Alexandra Eala got Filipinos fired up about tennis after she broke into the Women’s Tennis Association’s (WTA) Top 50 last year. She climbed as far as No. 29 in March 2026 to become the nation’s highest-ranking player in modern history before retreating to No. 44 in April.
Thai billionaire Charoen Sirivadhanabhakdi’s Frasers Property sells European properties to REIT for $343 million
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Thai Billionaire Charoen Sirivadhanabhakdi’s Frasers Property Sells European Properties To REIT For $343 Million Original
An industrial property owned by Frasers Logistics in Australia. Frasers Logistics Singapore-listed Frasers Property—controlled by Thai billionaire Charoen Sirivadhanabhakdi—is selling four of its logistics properties in Europe to its unit Frasers Logistics & Commercial Trust (FLCT) for €294.9 million ($343 million).
Billionaire Gautam Adani's airport arm, IHG to build five hotels across India
Ian Sayson, Forbes Staff Adani Airport Holdings Ltd. —controlled by ports-to-energy billionaire Gautam Adani —has inked an agreement with IHG Hotels & Resorts to build hotels across India, tapping on the country's booming travel demand. The five hotels, which will have close to 1,500 rooms, will be built in key airport-linked and high-growth urban destinations in India, the companies said in a joint statement .
Billionaire Gautam Adani’s Airport Arm, IHG To Build Five Hotels Across India
Adani Group Chairman Gautam Adani. NurPhoto via Getty Images Adani Airport Holdings Ltd.—controlled by ports-to-energy billionaire Gautam Adani—has inked an agreement with IHG Hotels & Resorts to build hotels across India, tapping on the country’s booming travel demand. The five hotels, which will have close to 1,500 rooms, will be built in key airport-linked and high-growth urban destinations in India, the companies said in a joint statement.
Philippine Tycoon Lucio Tan-Backed PNB Holdings May Push Back $930 Million IPO Original
The PNB office complex near Manila Bay, shared with Philippine Airlines, another company owned by tycoon Lucio Tan's LT Group. Courtesy of PNB PNB Holdings—the property arm of tycoon Lucio Tan’s Philippine National Bank (PNB)— may delay its initial public listing to protect its estimated 56.3 billion pesos ($930 million) valuation from a prolonged equities selloff fueled by the Middle East conflict.
Australian billionaires’ Chemist Warehouse chain begins UK expansion
Published on May 6, 2026 Image: Getty Sigma Healthcare—which counts Australian billionaire brothers Jack and Sam Gance and their business partner Mario Verrochi its biggest shareholders—is entering the U.K. market by partnering with London-based Greenlight Healthcare Ltd. Under a preliminary agreement, Sigma Healthcare will license the Chemist Warehouse brand and provide inventory management and marketing support to Greenlight’s 22 stores across London.
Australian Billionaires’ Chemist Warehouse Drugstore Chain Expanding In The U.K.
Vikesh Ramsunder, CEO of Sigma Healthcare, from left, Sam Gance and Jack Gance, cofounders of Chemist Warehouse, and Mario Verrocchi, CEO of Chemist Warehouse, attend a listing ceremony at the Australian Securities Exchange. © 2025 Bloomberg Finance LP Sigma Healthcare—which counts Australian billionaire brothers Jack and Sam Gance and their business partner Mario Verrochi its biggest shareholders—is entering the U.K market by partnering with London-based Greenlight Healthcare Ltd.
Billionaire snaps up Gold Coast hotel, retail complex for $346 million
Published on May 4, 2026 The Paradise Centre & Novotel in Gold Coast, Australia. Courtesy of JLL The mixed-use hotel and retail property was acquired from Abu Dhabi Investment Corp. and Challenger Life which held a bidding for the asset, real estate consultant JLL, which handled the sale with McVay Real Estate, said in a statement. This is the largest transaction for a combined hotel and retail complex in Queensland, according to JLL.
Billionaire Lin Chen-Hai buys hotel, retail complex in Australia for $250 million
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Billionaire Lin Chen-Hai Buys Hotel, Retail Complex In Australia For $250 Million Original
The Paradise Centre & Novotel in Gold Coast, Australia. Courtesy of JLL Forest Endeavour—controlled by Taiwanese billionaire Lin Chen-hai—has acquired the Paradise Centre and Novotel Surfers Paradise on Queensland’s Gold Coast for A$346.5 million ($250 million), betting on one of Australia’s top tourist destinations. The mixed-use hotel and retail property was acquired from Abu Dhabi Investment Corp.
Billionaire Robin Khuda’s AirTrunk earmarks $3 billion to build data centres in Malaysia
Published on May 1, 2026 Robin Khuda. Image: Supplied The two new projects, which will be built in the southern Malaysian state of Johor, will raise AirTrunk’s total investments in the country to 27 billion ringgit across four data centres with over 700 megawatts in total capacity, the Sydney-based company said in a statement. “Malaysia has set a clear ambition to lead in AI,” Robin Khuda, founder and CEO of AirTrunk, said in the statement.
Billionaire Robin Khuda's AirTrunk earmarks $3 billion to build data centers in Malaysia
Ian Sayson, Forbes Staff AirTrunk—the data center operator founded by Australian billionaire Robin Khuda —is spending 12 billion ringgit ($3 billion) to build two new data centers with a combined capacity of 280 megawatts in Malaysia, doubling down its bet on one of Southeast Asia's fastest-growing digital economies.
Billionaire Robin Khuda’s AirTrunk Earmarks $3 Billion To Build Data Centers In Malaysia
4 hours ago KUALA LUMPUR, Malaysia (AP) — A French teen is facing mischief and public nuisance charges in Singapore after posting a video on social media of himself licking a straw from an orange juice vending machine and then putting it back. Didier Gaspard Owen Maximilien, 18, was charged April 24 and hasn’t …
Indian Pharma Billionaire Dilip Shanghvi Bets On US With $11.8B Deal
<p>Sun Pharmaceutical Industriesâcontrolled by Indian billionaire Dilip Shanghviâhas agreed to buy Organon & Co. in a transaction valuing the New York-listed healthcare company at $11.8 billion.</p><p></p>
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