By Lito U. Gagni
Housing industry leader and 8990 Holdings Chief Executive Officer JJ Atencio provides us in this week’s issue with insights into how the housing startup innovated its game to emerge at the top of the low-cost housing business in the country.
8990 Holdings’ incredible run is a testament to that Chinese truism that “crisis” also means “opportunity,” as the company did not allow itself to be affected by a change in the Pag-Ibig Fund takeout and even used it to reinvent itself.
This is what innovation is all about, and this is how market disruptors change the rules of the game and in so doing come up on top. In his first column in this business weekly, which is also attempting to make innovations, Atencio would provide our readers with a different perspective about business.
“Its about innovation. It’s about challenging preconceived notions about one’s business and by designing new ways of doing things based on insights gained by closely studying your market, one can change the game, disrupt the market and emerge as the industry leader.”
A look-see at what 8990 Holdings has done for the business landscape and the country is what this paper’s readers could expect and much more.
But for starters, Atencio told me and Forbes Philippines Editor in chief Roel Landingin how the company piqued the interest of Khasana Nasional, Malaysia’s sovereign wealth fund, and Texas Pacific Group, one of the top five equity investors in the world, to such a point that Finance Secretary Cesar Purisima had to check on the company itself.
The two giants in the investment world, one of the reasons the Philippines has become a darling in the Asian stock-market scene, invested in the country not just because of its innovative and market-disruption ways but for its social impact.
Atencio’s next column pieces would provide insights into how businesses can innovate and move forward. Aptly titled “Game Changer,” this column would also dwell at length on other industry firsts.