Iloilo City confers 'Adopted Son' titles to 3 tycoons

Published August 25, 2021, 2:06 PM

by Tara Yap

ILOILO CITY – Tycoons Henry Sy Jr., Enrique K. Razon Jr. and Federico R. Lopez are now “Adopted Sons of Iloilo City” for contributing to the growth and development as well as helping out the city during the pandemic.

Timely for the 84th Charter Day celebration, the Iloilo City Council recently approved the resolutions authored by Councilor Rudolph Jeffrey Ganzon for the conferment of the three business tycoons.

Henry Sy Jr. has continued the business ventures of SM Prime Holdings Inc. in Iloilo City, where SM established its first branch outside Metro Manila in 1979. Aside from its mall, a hotel chain and several grocery stores, SM is set to build a low-rise housing in Jaro district. It will benefit regular employees of the Iloilo City government who still does not own a house.

Port magnate Razon has ventured into the power sector in Iloilo City. The Razon-owned MORE Electric and Power Corp. (MORE Power) is now the sole power distributor in the city when it acquired a 25-year congressional franchise. MORE Power’s takeover from Panay Electric Co. (PECO) is expected to improve power services in the city that serves as the regional capital of Western Visayas. Razon’s group has also donated 5,000 doses of COVID-19 vaccines.

Lopez of the Lopez Holdings Corporation has Ilonggo roots. He is the grandson of Eugenio Lopez, the founder of ABS-CBN. The Lopez group has donated at least P5 million worth of medical equipment for Iloilo City’s molecular laboratory that tests specimens for COVID-19. The Lopez group also donated 5,000 doses of COVID-19 vaccines.

The resolutions authored by Ganzon were backed by Councilors Lyndon V. Acap, Lady Julie Grace L. Baronda, Ely A. Estante, Jr. and Alan A. Zaldivar.