INSPIRING INNOVATION: URATEX CEO NATIVIDAD CHENG HONORED AS ENTREPRENEUR OF THE YEAR PHILIPPINES 2017
November 3, 2017
Uratex Chairwoman and CEO Natividad Cheng received the Master Entrepreneur and Entrepreneur of the Year Philippines 2017 award. Her direction towards quality and innovation defined her organization to be the market leader in the foam industry and business diversification.
The award-giving body was led by SGV Foundation Incorporated in partnership with the Department of Trade and Industry, Philippine Business for Social Progress, and Philippine Stock Exchange. The Entrepreneur of the Year (EOY) Philippines program was established in 2003 by the SGV Foundation to recognize local entrepreneurs that present exemptional business skills and success stories in their industry. EOY was first introduced by professional services firm Ernst & Young (EY) in 1986 and currently adopted in over 60 countries world-wide. From local recognition, EY broadened its program through its annual World Entrepreneur of the Year awards.
Mrs. Cheng will represent the Philippines in the upcoming World Entrepreneur of the Year awards happening at Monte Carlo, Monaco in June 2018 along with the respected business personalities and awardees around the globe.
#TatakPilipino: Business pride of our country
Mrs. Cheng was chosen from the 19 outstanding finalists from different industries representing their distinct, impressive and inspiring stories of their business journey.
Prudence was the key to attain success. Mrs. Cheng along with her husband Mr. Robert G. Cheng started the company with only 4000 pesos as capital in a limited work force of 10 employees. With their 10-peso profit, they would only spend 2 and reinvest the 8. From makeshift equipment, they were able to save enough to buy what were the Philippines’ first modern foaming machines. Starting in the 1980’s the company already deployed foaming machines which were amongst the top of the line in the world.
The recognized title holders of EOY Philippines were Socorro C. Ramos (Founder and General Manager of National Book Store), Lance Y. Gokongwei (President and CEO of Cebu Air, Inc.), Senen C. Bacani (Chairman and President of La Frutera, Inc.), Wilfred Steven Uytengsu, Jr. (President and CEO of Alaska Milk Corporation), Ambassador Jesus P. Tambunting (Chairman and President of Planters Development Bank), Tennyson G. Chen (President of Bounty Fresh Food Inc), Erramon I. Aboitiz (President and CEO of Aboitiz Power Corporation), Jaime I. Ayala (Founder and CEO, Hybrid Social Solutions Inc.), Ben Chan (Chairman of Suyen Corporation) and Nico Jose Nolledo, Xurpas, Inc.