Connect with us

Hi, what are you looking for?

Top Stories

Editor's Pick

Jollibee billionaires bet on online stock trading in Philippines

The Philippine billionaires behind Jollibee Foods Corp. and chicken BBQ chain Mang Inasal are betting that their next big thing could be in stock broking.

The duo, Tony Tan Caktiong and Edgar Sia, invested in DragonFi Securities Inc. to develop an online trading system as they sought to tap the explosion of retail investors that went online during the pandemic. With about 90% of their investments spent on technology and software-related manpower, they are hoping the platform can rival some of the biggest local online stock brokers.

Currently, about a third of the 125 brokers in the country offer online trading facilities. However, most of them do not provide customizable layouts. Existing dominant players are also mostly running on outdated technology, according to DragonFi CEO and co-owner Jon Carlo Lim.

“There is demand for a modern platform with advanced features and analytics” which can handle a spike in transaction volumes, Lim said in an interview. Its cloud-based system can also trade other assets and foreign markets, once allowed by regulators.

Online trading accounts have grown in recent years as traders seek more flexibility and control over their investments during the Covid era. Based on latest exchange data, they made up more than 70% of the 1.62 million stock trading accounts in 2021, compared to just 39% of the 773,187 accounts in 2016.

Gaining traction won’t be a done deal, though. Online stock brokers are dealing with regulatory and infrastructure challenges in making their trading platforms easily accessible to investors, according to John Gatmaytan, founder of online stockbroker Luna Securities. “The challenge is for infrastructure and structure to catch up at the soonest with the changing preference of investors,” he added.

Tan Caktiong is the founder of Jollibee, the Philippines’ top restaurant operator which outsells McDonald’s in the Southeast Asian country. Sia, who was born a year before Jollibee began in 1978, started Mang Inasal in 2003, which was acquired by Jollibee seven years later. The duo has since gone on to form another successful venture in DoubleDragon Corp., which built 1.2 million square meters of leasing portfolio in 10 years.

Given Philippines’ low stock value traded to market capitalization ratio of 12% compared to the world average of 37%, the pair expects plenty of upside for the stock broking firm. DragonFi will launch its platform on Monday and targets to handle P100 billion ($1.8 billion) in cumulative trading transactions in 24 months. — Bloomberg

You May Also Like

Editor's Pick

THE BOARD of directors of Ayala-led ACEN Corp. has approved the availing of credit facilities amounting to about P7.8 billion from two financial institutions....

Editor's Pick

STOCK PHOTO Image by StockSnap from Pixabay HYDERABAD – When Saloni Singh was little, she would beg then brawl with her brother for a turn on...

Editor's Pick

MPIC Metro Pacific Investments Corp. (MPIC) reported on Wednesday a consolidated core net income of P4.3 billion in the first quarter, up 38% from...


<?xml encoding=”utf-8″ ??> The UK has agreed landmark post-Brexit trade deals with Australia and New Zealand to unleash British businesses and deliver on the...

Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Secrets Of Richdads. All Rights Reserved.