Cebu City Mayor Tomas Osmeña (right) welcomes Chinese billionaire Huang Rulun (left) and his group during Huang’s visit at Cebu City Hall. (CDN PHOTO/JUNJIE MENDOZA)
Sino billionaire meets Cebu City execs days after Sino firm explores prospects at Capitol
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Chinese philanthropist and billionaire Huang Rulun yesterday visited the province and met with Cebu City Mayor Tomas Osmeña in his office where they showed an audio-video presentation about their company, Century Golden Resources Group.
Huang’s visit came days after another possible Chinese investor, Third Harbor Engineering Ltd., which was represented by Third Harbor Chairman Fang Yan, met with Cebu Provincial government officials led by Cebu Gov. Hilario Davide III last Monday to discuss possible investment prospects in Cebu and the requirements needed for them to invest in the projects.
Third Harbor Chairman Fang was particularly interested in the Trans-axial Highway project, but he then said that the company would only go into any projects in Cebu if they would be supported by the national government.
Introductory meet
“It’s just an introductory meeting,” said Osmeña in a text message yesterday afternoon when asked about Huang’s visit.
Although reporters were allowed to watch the presentation at the mayor’s office, they were not allowed to ask questions to Huang or to the officials accompanying him. After the presentation, which lasted for around five minutes, the Chinese officials and the mayor hurriedly left for a lunch meeting.
Based on the presentation, Century Golden Resources Group was founded in 1991 by Huang. Since then, the group has established 20 five-star luxury hotels, and 10 shopping malls in different cities and provinces in China.
SRP visit
The group also visited the South Road Properties (SRP) yesterday morning before going to city hall.
Joel Mari Yu, Osmeña’s point person for business and economic development, said he gave a brief presentation to the Chinese officials about possible investments in Cebu during a meeting at their SRP office.
“I conducted a briefing for him. We made a presentation about Cebu as an investment destination. They were very interested on the cost advantages of investing in Cebu compared to other places in the country like Manila,” he said in a phone interview yesterday.
Included in the presentation were the possible investments that could be done in the SRP, which is a special economic zone. They also showed the current existing industries in the area.
Yu said Huang was speaking through an interpreter and asked only one question about the cost advantages of Cebu as an investment destination in terms of minimum wage, power source and water source compared to Manila.
Huang was also accompanied by some Chinese officials and Rep. Arthur Yap (Bohol 3rd district).
Billionaire Huang
According to Forbes Magazine, Huang has a real time net worth of $3.4 billion. He is ranked 49th in the China Rich List and 595th in the World’s Billionaires List for 2016.
In their company presentation, the group showed that it has done several corporate social responsibility projects where they poured 6 billion Yuan (at least P43 billion) in 25 years to charitable undertakings which included those in the field of elderly care, educational support and poverty alleviation.
According to Forbes, Huang also attended President Rodrigo Duterte’s inauguration last June and funded construction of a newly inaugurated drug rehabilitation at Fort Magsaysay in Nueva Ecija province.
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