Benjamin "Benjie" Bitanga | |
|---|---|
 Bitanga in April 2018 | |
| Born | Benjamin Mendoza Bitanga December 31, 1952 Philippines |
| Nationality | Filipino |
| Occupation(s) | Businessman, investment banker, and entrepreneur. |
| Employer(s) | Founder, CEO, president of MRC Allied Inc., Founder of MacroAsia Corporation, Founding Investor of Rappler, Major Shareholder ofContents
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Benjamin "Benjie" Mendoza Bitanga (born December 31, 1952) is a Filipino investment banker.
Bitanga attended Ateneo de Manila University, where he graduated in 1973 with a Bachelor of Science Degree in Management. Bitanga pursued two years of Law Studies at Ateneo de Manila Law School before completing his Master's in Business Administration (MBA) at the Asian Institute of Management (AIM) in 1977.
Bitanga is the founder and president of MacroAsia Corporation, [1] a leading holding company in the Philippines. He secured the Airline Catering License from the Manila International Airport Authority (MIAA) and its eventual joint venture agreement with Eurest Corporation of France in setting up an airline catering facility within the property of the MIAA.
In 1995, he then sold his company to the Tan family, and became the airline-related unit of the Tans, and Baguio Gold, which is also known as the PAL Holdings Inc. [2]
Bitanga held a position in the Asian Appraisal Company as chairman and President. During that time, he established a national precedent in securing approval from the SEC(Securities and Exchange Commission) to allow valuation of companies and its assets using future cash flow. Because of this, companies from different industries has also been successful in adopting this valuation method to value their assets. In 1993, he was awarded the mandate to value Tsing Tao Brewery, Inc. and their IPO using the same valuation approach.
In 1996, Bitanga was an Incorporator and President of Colliers Jardine Philippines, one of the largest property services firms in the Philippines. Colliers Jardine, now part of Colliers International, is a global leader in real estate services and consulting. Bitanga’s association with the company marked a significant step in his involvement in real estate on an international scale, further establishing him as a key figure in the real estate sector, both in the Philippines and abroad.
Bitanga founded MRC Allied Industries Inc., which was later renamed MRC Allied Inc. Bitanga was the former Chairman and President of MRC Allied Inc. from 1994 to 2016. He remains the company's majority shareholder.
He was accountable for the company's conversion from a rubber processing company to a real estate business, particularly in the Industrial Estate Sector, with concentration in the Southern City of Cebu. In 1995, he implemented a widely successful initial public offering (IPO) of the company with the Philippine Stock Exchange, which attracted local and foreign investors like SSS (Social Security System) and GIC (Government of Singapore Investment Corporation). A year later the company's stock rose from an introductory Php 1.50 to Php 9.00. He was responsible for converting MRC's 350 hectare property in Cebu to a planned world class township which led to its classification as an Export Processing Zone. He led the company successfully through the Asian Financial Crisis of 1997, by means of rehabilitation efforts completed in 2010, which led to the company's diversification of its interest into other industries including mining. Through aggressive acquisition of mining assets, which focuses on gold and copper, he leads the company through successful negotiations with leading gold and copper producers for joint venture projects.
In 2011, Bitanga became a founding investor of Rappler, a pioneering online news platform, through his family-owned Menlo Capital Corporation. Bitanga's investment helped establish Rappler as a prominent digital media company, focusing on delivering data-driven news, social media broadcasting, and promoting civic engagement. Rappler, led by Maria Ressa, has been instrumental in shaping the landscape of digital news in the Philippines.
Rappler Inc. is recognized internationally as a leader in the use of social media for news dissemination. Rappler's mission, combined with Bitanga’s vision for supporting transformative media ventures, has played a pivotal role in fostering press freedom and accountability in the Philippines.
In August 2017, Menlo Capital Corporation acquired a significant stake in PT&T Corporation (formerly known as Philippine Telegraph & Telephone Corporation), a telecommunications company, through the acquisition of PT&T shares owned by Republic Telecommunications Holdings Inc. This acquisition occurred six years after the approval of PT&T’s Rehabilitation Plan, and it marked the beginning of PT&T’s significant restructuring.
Under Menlo's ownership and with a new management team, PT&T achieved several key milestones, including holding its first stockholders' meeting in 14 years, securing approval to increase its capital stock, and resolving past violations with the Securities and Exchange Commission (SEC) and the Philippine Stock Exchange (PSE). These steps helped lift the company’s regulatory suspensions and improve its financial standing.
Bitanga is currently the controlling owner of a diverse range of businesses across various sectors, including investments, real estate, renewable energy, and telecommunications. His notable ventures include:
1. Menlo Capital Corporation – Engaged in private investments and renewing its investment house license.
2. Erland Holdings Corporation – Focuses on residential and commercial real estate leasing and sales.
3. Benisons Shopping Center, Inc. – Specializes in mall stalls leasing and selling.
4. South 53 PPT Holdings Corporation – Engaged in high-end condominium leasing and sales.
5. Dolphin Fire Group Inc. (DFGI) – Involved in marketing, media, advertising, and event organization.
6. Menlo Renewable Energy Corporation – Focused on the development of renewable energy sources such as solar, geothermal, and hydro power, with a combined capacity of 500 MW.
7. United Hydro Power Builders Corp. – Specializes in the development of hydro power resources with a total capacity of 140 MW.
8. Sunray Power Inc. – Engaged in solar power development with a 25-year lease agreement for 260 hectares in Clark Green City, Tarlac.
9. 5GS Security Inc. – A technology-driven security solutions provider.
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