The power trio of Philippines business

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January 20, 2026 | 12:00am

Notes on the beat

MANILA, Philippines — While the Philippine entertainment business has icons like Tito, Vic and Joey and the music industry has the APO Hiking Society, the local business sector also has its own formidable all-male trio – Edgar Saavedra, Louie Ferrer and Oliver Tan.

Megawide-Citicore group of companies’ powerhouse trio made their mark through their vibrant and determined leadership, working together on key projects spanning construction and engineering, transportation, property development and energy.

Together, the trio successfully powered their way to prominence and unleashed a group considered today as a force to be reckoned with in whichever business segment they venture in.

As their partnership, friendship and business continue to grow, so does their insatiable appetite for pursuing projects targeted for nation-building.

“Given our age, we’re at the stage where we’ve reached our inflection point,” shared Saavedra, chairman of Megawide Construction Corp. and Citicore Renewable Energy Corp. (CREC).

“We ask ourselves – where else can we still make money and at the same time, help the country? And then of course, what we do should have a big impact,” he said.

Saavedra calls it “exciting times” for engineering and infrastructure company Megawide, which is gearing up for stronger years ahead through more robust and efficient operations as well as de-levering initiatives to strengthen financial position and improve profitability.

“In construction, this is a good time. We were able to convince Pag-IBIG to believe in a Filipino company that can deliver world-class housing. That’s why they invested,” Saavedra said, referring to the company’s recent investment and partnership agreement with the Home Development Mutual Fund.

“In fact we have been approached already by secretaries and government officials and asked us how we can help them. As I said, we want to help. With all these scandals going on, maybe this is the time for us, especially for me since I am a builder and an engineer, to impart my knowledge, whether on school buildings, housing or other infrastructure,” he added.

Megawide is no stranger to being a government partner in nation building, having successfully delivered 10,000 public school classrooms under the public-school infrastructure project Phases 1 and 2 during the Aquino administration.

Some of the company’s accomplishments also include the development of the Mactan-Cebu International Airport, delivery of the new terminal building at Clark International Airport and construction and operation of the country’s premier landport, the Parañaque Integrated Terminal Exchange (PITX).

Its transit-oriented developments anchored by the PITX are set to expand through the Baguio City Integrated Terminal, the South Luzon Integrated Terminal Exchange and the Cavite Bus Rapid Transit projects.

Megawide also entered into property development through PH1 World Developers Inc., which is focused on the affordable housing segment, and through new subsidiary Megawide Dreamrise Residences Inc., the company is keen on participating in the government’s Pambansang Pabahay para sa Pamilyang Pilipino or 4PH program.

“So now we’re focusing on housing. If we can do big national projects, we’ll go to some local government units,” Ferrer, Megawide vice chairman and executive director for infrastructure development, said.

But Megawide is not the only company who has been reaping the fruits of the trio’s labor. CREC is also seeing bright prospects, especially this year, according to Tan, the renewable energy company’s president and CEO.

“This year is going to be banner year – both for Megawide and Citicore,” Tan declared.

“Citicore alone, we’re going to energize one gigawatt in the first quarter. And we’re aiming to close the year, before 2026, to energize three gigawatts. So it’s going to be an exciting year,” he said.

CREC, which is engaged in the development and operations of solar, hydro and wind energy platforms, has been working to add five gigawatts of renewable energy capacity in five years.

“If we can do it in power, we think that we can revolutionize the industry wherein we’ve got a major player but not as a traditional power producer. We are the group that believes in renewable energy. And we know we can become the major player,” Saavedra said.