Tom Alcantara’s Impressions/Notable Experiences with MBV

Introduction

It all happened during the mid 70’s in the Project Development Office (PDO), a unit imbedded within the Business Development Office, the mother unit headed by Mr. Exequiel Villacorta, Jr. , Vice-President, of the Private Development Corporation of the Philippines (PDCP), a development finance institution supported  and utilized as a conduit by the World Bank and other multilateral funding organizations.

PDO is much smaller than it sounds comprising only of one three-man team headed by me, Tom Alcantara, as Team Leader,   MBV as Financial Analyst and Boni de Jesus as Technical Analyst.  PDO functioned as a unit in identifying areas where PDCP could diversify into and away from the traditional lending mandate. The smallness of the unit provided  an opportunity for achieving the closest of association among its members and helped breed lasting impressions.

Walking with a (Future) President (The Assent to Mt. Paete with MBV/The Aborted Mini-IndustriaL Estate Project)

MBV and I, along with the local Mayor scaled Mt. Paete in search for a suitable location for approximately  50 woodcarvers, a modest but pioneering effort towards establishing a mini-industrial estate, a program which was spoused by the World Bank. With the local Mayor acting as an amateur guide, our short but lung-busting trek up the mountain was rewarded by the site of a 20-ha. plateau at the top which was considered then as an excellent home where the woodcarvers  may be relocated   and may be able to enjoy the benefits of common infrastructure, utilities, marketing logistics and other amenities and more importantly to avoid further exposure of family members to the dangers of chronic respiratory ailments caused by  sawdusts and wood preservatives.

In the end,  concerns relating to active dissidents’ activities in the chosen site, led to the eventual abandonement of the program. (Ironically, it is in the   real estate sector where MBV found  his first major window of opportunity in realizing  his dreams and become one of the country’s richest.)

After he resigned from his job in PDCP, MBV ventured as contractor for the supply of construction  materials in a Canlubang Estate Project with his two ten-wheeler trucks  for a start. Such business opportunity arose from his close association with the PDCP Consultant on industrial estate who earlier  joined the Canlubang Estate to formulate a strategy for  CARP exemption. The years that followed recorded a long   history of very visible financial successes by MBV, an achievement made possible by his enviable knowledge in discerning  viable business opportunities and in identifying  and establishing essential business connections primarily in the construction and real estate sectors and his trademark as a man of obstinate determination to succeed.

The Aborted Buy-in at Capitol City Rural Bank

Also part of PDO’s  assigned task was to look into prospects of buying into and owning a significant stake in existing development banks or establishing a new development  bank  altogether as an investment alternative.

Again, PDO was assigned the task of conducting due diligence audit of the portfolio of said  bank, such effort being assigned to MBV.  My recollection was that PDCP and the owners of the rural bank did not agree on the valuation numbers based on the results of the due diligence examination.

MBVs demonstrated ability to focus on crucial details and numbers which are essential to decision-making   coupled with his trained eye as a former SGV auditor came in handy in this exercise

MBV’s Pioneering Venture into Low-Cost Housing

It will be a  sin of omission on my part if I do not include as one of my lasting impressions the fact that the MBV-owned Household Development Corporation (HDC) was responsible for providing  the very first roof over my head.  A fledgling construction firm then, HDC through its initial  cadre of young experts  demonstrated mastery of the intricacies of tapping funds available through sovereign housing agencies to help build my house despite shortfalls in owner’s counterpart funds which I recall were bridged by HDC. I am not sure though whether I have properly cleared the extended bridge financing! I never received any collection letter from HDC.

Being one of the first beneficiaries of MBV’s pioneering venture into  low-cost housing which started as early as the late 70s and which have now reportedly  constructed  hundreds of thousands of units, I personally consider MBV as the true father of the country’s low-cost housing program. The others who  claim to have the same heart for such a program are deemed mere copycats and pale MBV shadows!

The 25,000 Peso Coupon Settlement Scheme

MBV had his own share of problems in  collecting receivables during his years as fish and shrimp trader.  It all begun when he decided to deal with only one major consumer of traded fresh seafoods, the now-defunct Bungalow Chain of Restaurants, such move being directed mainly towards the  effort of minimizing  product marketing and collection time.  Naturally, it also violated the rule of not putting all your eggs in one basket. And it happened.  Unable to collect  the hard-earned money he invested, MBV  personally concocted a scheme which he offered and subsequently accepted   by his debtor.  MBV accepted as settlement in kind canteen chits equivalent to the amount of indebtedness, turned around and sold the same to the customers of canteen  concessions operated by his debtor  at a 30% discount.   A unique scheme which enabled MBV to recover at least his principal investment which was used to fund the acquisition of his now famous TWO TEN-WHEELERS.

A classic lesson in investments recovery!

What is MBV as a Colleague and  Personal Acquaintance

I would tag MBV as a humble and unassuming  person, perhaps, owing largely to his personal circumstances during that time, i.e., the oldest in a brood of nine who assumed the responsibility for helping ensure the well-being of the whole family ,  early waking up hours to help his mother support the family through fish and shrimp mongering and the physical toll it takes in accomplishing these activities.

MBV also made no  secret  about  his plan for only a short-term association with  PDCP as an employee.   In more than a few instances, I have observed MBV staring  beyond the walls of his office. On the horizon, he dreamt of being able to rise above poverty by having his own business(es) and charted a path which he doggedly travelled to achieve that dream.  He succeeded way beyond anyone’s imagination!

Despite impressions as a serious person, MBV always found time to play hooky and have fun with his colleagues after work hours. On one ocassion, after jogging at the now Green Belt as part of the physical conditioning of the basketball team in which Manny had the center post, the team decided to have fun by a having a Siopao eating- contest fitting MBV vs. Sonny Paez, a team member.  The objective:  to wash down as many Kowloon Siopao with only one bottle of Seven Up.  Well,  MBV won with four(?) Siopaos ingested into his system but almost choked out cold if not for  a heavy open hand that landed on his back courtesy of Sonny to release chunks of siopao out!

More Impressions

The degree of closeness of MBV’s ties with and affection towards his family members   may be partly exemplified by the observed personal attention he has given to the members of his own family and Cynthia Aguilar  even before she graduated from a girlfriend to become his fiancée.

Jojo, the younger brother, frequently visited MBV in his PDCP office and both may be overheard discussing family and business matters within a reasonable amount of time and in an atmosphere of mutual respect and due deference to MBV’s seniority.

It will also be recalled that Cynthia Aguilar dropped by the office occasionally to say hello and to consult with MBV on matters relating to the Aguilar’s businesses which may also be construed in no small measure as a confirmation  of  the trust and confidence accorded by the Aguilars on MBV’s credentials.

Finally, for the very first time this nation wlll be led by a  competent President of genuine humble beginnings – MBV!

TOM V. ALCANTARA