In a news release last week it has been reported that our premier, McKeeva Bush, is touting Southeast Asia’s largest publicly listed food, beverage, and packaging company San Miguel Corporation (SMC) of the Philippines for business opportunities.

Mr. Bush met with executives of SMC whilst on his trip to Tokyo for the Commonwealth Finance Ministers conference.

Bush said, “We are looking forward to working together and capitalising on the synergies of both SMC and the Cayman Islands. This joint cooperation underscores our commitment to study and work with projects that will be mutually beneficial to both parties. This combined effort will help us realise the objectives that we have set for our islands, to bring in more investments, breathe life into our existing industries and make the Cayman Islands the choice destination for the region. We are happy that SMC, the Philippines largest conglomerate, has chosen us to be a potential strategic partner for its international expansion.”

The benefits of this working together/partnership is difficult for me to see, although it might be due to my declining years or my suspicious and cynical nature.

However, SMC, is a company that would seem to be in direct competition with Cayman’s already hard pressed businesses if they were to enter our small market of already well eaten pie.

This is what the company offers:

Founded in 1890 as a brewery, the company has over 120 facilities in the Philippines, Southeast Asia, China, and Australia. SMC has a very diversified range of product consisting of beer products, juice and juice drinks, canned meat products, dairy products, wines and liquor products, meats (processed and semi-processed), poultry meats, and jelly snacks among others. Aside from being the foremost company for food and beverage in the Philippines, we do have other businesses that focus on providing clients Private Label and Packaging (bottles, corrugated boxes and cans).

They also are engaged in the manufacture and export of Handcrafted Fashion Jewelries and Home decorative items made of indigenous materials such as sea-shells, wood, coco, bone, horn, stone, buri, metal, clay, fiberglass base, synthetic and other natural materials. They are based in Cebu City, Philippines, the city south of Metro Manila. They have been in the export business since 1988.

The main line of products they export are all the hand made Asian building and giftware items, consisting of Roof Thatching, Wall lining, Fencing Materials, Gift Baskets, Bags, Hats, Picnic Mats, Footware as well as Fashion Jewelry and Accessories. All made from Bamboo, Rattan, Buri, Cogan grass, Nipa palm, Shells, Wood, Leather and Stone etc.

So what do we actually sell to them?

The only thing I can think of is

LAND?

My suspicions have been reinforced by Mr Ramon S Ang, SMC President and Chief Operations Officer reply to the premier where he said, “This is a historic moment for both San Miguel Corporation and the Cayman Islands as represented by Hon Mckeeva Bush, and offers countless opportunities for our company to become a potent force in developing the economy of the Cayman Islands through potential investments. We hope that this understanding translates into a fruitful cooperation.”

Don’t the words “countless opportunities for our company to become a potent force in developing the economy of the Cayman Islands through potential investments” produce countless red flags?

With all the stories we have done featuring red flags perhaps it is Red Flag Day? All monetary contributions appreciated.