'He who has the gold rules'

A self-made billionaire who once lived in Manila's slums wants to be the next president of The Philippines, saying his entrepreneurial acumen and experience as a politician would be vital assets in leading the nation.

Manuel Villar, 59, has headed both the Senate and the House of Representatives in a 17-year political career. His family owns Vista Land & Lifescapes, a real estate firm with assets worth $1.26 billion.

"The next president of this country, whoever he is, should on day one know how to manage this country," Villar said in an interview published in Asian newspapers.

The interview was conducted in an austere office that serves as his party headquarters in one of the three malls he owns in Manila. "There is no OJT (on-the-job training) anymore, we cannot afford it. At the very least, you must have shown capability to manage, capability to lead."

Villar is viewed as a formidable candidate because of his ability to fund a costly election campaign that would need more than $50 million, in a country where nearly 50 per cent of households live on less than $2.50 a day.

"I believe that while a lot of us will be announcing our candidacies, in the end there will just be a few who will remain," Villar said.

Villar is the only politician who has declared his candidacy for the presidential polls, to be held in May next year Other leading figures in the Philippines' multi-party political system are considering their chances.

"With me, what you see is what you get," Villar said. "With some candidates, you’ll have to ask, who’s behind you? They say there is one golden rule, he who has the gold rules."