‘Making money is not in the genes, but in the circumstances’

ALL IN THE FAMILY

‘Making money is not in the genes, but in the circumstances’

By Queen N. Lee-Chua

“Philippine streets are paved with gold,” a trader from China tells Jeffrey “Jeff” Co, 48, chief operating officer of the Cyber group of companies, a top plastics manufacturer in the country.

“In China, we have many competitors. Here, there are so many opportunities, but your generation of Chinese-Filipinos (Tsinoys) are not taking advantage of them!”

“Your generation wants quality of life,” the trader continues.

“You work only from Monday to Friday, sometimes Saturday, from 9 to 5.   We work 24/7. We do the work you don’t want to do. With your fancy degrees, are you willing to sell candies in Divisoria even if it is highly profitable?”

“People tell me that making money is in the genes, but they’re wrong,” says Jeff. “It’s in the circumstances. When our forefathers came from China in the 1950s, they were looking for a brighter future. They worked really, really hard. My siblings and I work hard, but our efforts are nothing compared to those of past generations.”

Hard to come by

“We are the plastics company you don’t see,” Jeff says. The Cyber group makes industrial products, like aircon, refrigerator, computer parts for other firms that export these worldwide.

Jeff’s father, William, with some partners, started the company in the 1970s. “Up at 4 a.m. (a habit to this day), he would already be done with office work by 8 am, when other people were just going in.” He met with clients all day, coming home at midnight.

On Sunday afternoons, the whole family flew kites and played in the open field near the Cultural Center. “Those were the happiest days of my childhood,” Jeff says.

Their mother, Rosa, taught in a Tsinoy school in Caloocan. “Tsinoy schools have a tradition that kids of teachers get free tuition,” Jeff says. The children studied in Chiang Kai Shek College, with subsidies from the school.

The household had no helpers; their mother did everything. “She cooked adobo in a big pot, and we had the same menu for weeks,” Jeff says. “No one complained. Money is not easy to come by.” To this day, Jeff prefers one viand to many.

At night, their mother tutored the children as she ironed clothes. “No professional tutors!” Jeff says. In De La Salle University, he did well in subjects he loved, such as law. A fan of the US TV legal show “Petrocelli” and the Chinese series “Judge Bao,” Jeff had long dreamed of working for justice.

Prove yourself

After graduate school in Australia, he worked for an investment bank.  (His elder brother Johnny and younger sisters Jenny and Josephine also studied abroad. They all now occupy key positions in the family business.) Jeff was handling accounts for big clients, such as Australian media magnate Rupert Murdoch.

“But one day, I decided I did not want to do finance for the rest of my life. In banks, figures are on paper. I want to see concrete products.”

His father had separated from his partners by then, and Jeff started on the factory floor. “I have an MBA, but I had to prove myself to my father.”

“Many youngsters have degrees from Harvard, Wharton,” Jeff says. “When they come home, they complain their family business is old-fashioned, doesn’t work. But that’s what put them through school in the first place! Feeling entitled is a problem. You say you’re entitled because you’re the eldest, you’re the son, you’re smarter, or you work more. You may be all those, but you still have to prove yourself to the people who created the business.”

When I am late, I have to pay a P500 fine,” he says. “If a mobile phone rings during meetings, P100. My father pays up if his phone rings. When I opened my laptop at a meeting, he told me it was rude. He was right.”

“My father is principled. He doesn’t want to compete with friends, even if we want to expand.” Their 1,000-plus employees are treated fairly, with regular bonuses for good performance. Some are even given shares.  “We want good people to have a stake in the company.”

Since all four siblings play key roles, how do they handle conflict?  “Over small things, we just duke it out,” Jeff says. “But for big things, when we argue back and forth, I remember what my parents used to say, ‘te-niu.’” Te-niu is Fookien for “take a step back and give in.” “I have a quick temper but my wife, Vivian, calms me down. In the end, I am reminded that I work with my siblings, and I love them.”

Reaching out

An evangelical Christian, Jeff is part of the group “Purpose and Passion Ministries.” Coming from different denominations and professions, members bond through good works, such as pastor training and disaster relief.

“The worst thing is to just hand out things haphazardly,” Jeff says. “You need coordination.”

After Ondoy in 2009, the group coordinated with a church, and believing it was safer at night, they drove trucks of goods to a disaster site.

“The church had identified those most in need, the primary beneficiaries of the goods,” says Jeff. “We couldn’t give out to everyone. As we were leaving the area, some who did not receive relief packs threw stones at us.”

So for Yolanda victims, the group decided to send relief goods to a fellow member who helped to airlift them straight to Capiz and Catbalogan. “My hero, Mike Asperin, a former navy colonel, works for a company with aircraft, owned by Bobby Ongpin. Many people, including celebrities, helped out in the hangar, no one gawking or asking for autographs. In three days, the aircraft did 50 sorties. No red tape.”

Mike also runs a program that guides soldiers “along the right track.”  Jeff and Vivian have no children, but they have “adopted” a young soldier who lost his father early. They pray with him and advise him. “We are close to his mother, and we thank her for letting us be second parents to her son.”

“People say their hero is Rizal,” says Jeff. “My heroes are still living, close to me.” For the record, Jeff prefers Bonifacio to Rizal. Why? Read Nick Joaquin’s book “A Question of Heroes.”

Another hero is Welmond Fung, owner of the Tai-tong roast pork store in Binondo. A volunteer firefighter, Welmond not only saves lives physically, but also takes “lost kids” under his wing.

Jeff’s home was burned when he was a teen. “The volunteer fireman put his hand on my shoulder and said he would not abandon us.

I don’t know who he is, but he provided great comfort.”

Later on, when their building in Bulacan caught fire, 50 fire trucks, some all the way from Binondo, lined up to help put out the blaze. His family decided to support the volunteers, and now Jeff sits on the board of the Philippine Ling Nam Athletic Association Fire and Rescue Volunteers.

“Life is short. Let’s all help each other in the best way we can.”

Tune in next Friday, as we help a reader whose siblings are slacking off in their family business.

E-mail the author at blessbook@yahoo.com.