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Lucio tan

The meaning of «lucio tan»

Lucio Chua Tan Sr. (simplified Chinese: 陈永栽; traditional Chinese: 陳永栽; pinyin: Chén Yǒngzāi; Pe̍h-ōe-jī: Tân Éng-chai; born July 17, 1934) is a Filipino billionaire businessman and educator with interests in banking, airline, liquor, tobacco, real estate industries, beverages, and education. As of September 2021, his net worth is estimated at US$1.9 billion.[4]

Tan was born in Amoy (now Xiamen), Fujian, China. His parents moved to Cebu in the Philippines when he was a child. He was said to have gone to school on barefoot and first worked as a stevedore who tied cargo with ropes made from abaca[5] He earned a bachelor's degree in Chemical Engineering from the Far Eastern University in Manila.[6] Forbes states that while in college, Tan "worked as a janitor at a tobacco factory"[7] where he "mopped floors to pay for school."[8]

Though the companies under the umbrella of Lucio Tan Group has been involved in various social responsible programs, personally, Lucio Tan has benevolent philanthropy works especially in the academic world. Notable of which is his ownership stake with the University of the East resulting for the erection of the 9-story Dr. Lucio C. Tan Building on the said university's Caloocan campus in Manila. Outside Manila and Luzon, he gave a grant as an endowment for the development of Central Philippine University Institute of HRM and Tourism in Jaro, Iloilo City, which in return, was renamed after his honor as Lucio Tan College of Hospitality Management (Dr. Lucio C. Tan College of Hospitality Management), the first college/school in his namesake outside Manila. A building which houses the said college is also named after him on the CPU's main campus, the Lucio C. Tan Building.[9]

In 1997, Forbes, in an article entitled "A report card on Asia", complained about the "considerable corruption still prevalent" in the Philippines, bolstering that claim by citing how Tan "single-handedly held up a tax reform intended to remove special privileges for local tobacco and beer producers."[11]

In 1998, Forbes reported that Tan was spending his free time "[j]ousting with the government over charges of tax evasion" and with Philippine Airlines "shareholders who tried to block his bid for the airline."[12]

According to the January–March 1999 edition of the Philippine Center for Investigative Journalism, Solita "Mareng Winnie" Monsod, an economics professor at the University of the Philippines and former Economic Planning Secretary, was quoted as saying that "Lucio Tan is a role model for the worst kind of conduct as far as our national objectives are concerned. He signals that you can evade taxes and get away with it, pay the courts and get the judges to decide in your favour, get good lawyers and delay your cases. The messages that are given by the kind of treatment that he gets from the Government are the antithesis of what we need for sustainable development: an even playing field and Government intervention of the right kind." [3][citation needed]

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