Martin Yeung and Carlos Yeung on Kandaya Resort venture

1. Diamond trader sees tourism as a jewel
By Ehda M. Dagooc | Updated January 11,
2008 - 12:00am/The Freeman
Although Hong Kong offers a promising
business environment for his family’s 40-year-
old jewelry/diamond business, young
entrepreneur Martin Phillip S. Yeung finds
another jewel in Cebu— the tourism advantage.
Born and raised in one of Asia’s major business
district—Hong Kong, Martin is fascinated by
Cebu’s potential of becoming a major
destination for the world’s discriminating
travelers, who are looking for unique and inviting
ambiance, away from the already well-known
tourists attractions like Thailand and Indonesia.
Martin is now helping his father’s diamond trade
in Asia. While continually gaining profits in this
established jewelry business in Hong Kong, this
27-year-old, US-educated entrepreneur will
spend multi-million dollar investments to create
another landmark for Cebu, to develop the
untouched islets in the northern side of the
province, specifically the Malapascua Island.
“There are few outskirts islands that have huge

2. potential to attract high-end tourists from all over
the world. Malapascua itself can sell—its picture
perfect,” he said.
With permission from his father Diamond King
Carlos Yeung, Martin will start a series of
boutique resort developments off the northern
coastline in Cebu, starting with Daan Bantayan,
with the establishment of “Kandaya Hotel.”
While maintaining his businesses in Hong Kong,
Martin has decided to put more of his time in
Cebu—to realize his dream of putting Cebu to
the upscale tourism map, including a possibility
of attracting Hollywood celebrities, and
millionaire travelers.
Aside from Kandaya Hotel, Martin’s biggest
project in the next few months is to develop his
family’s huge estate in Malapascua Island.
“Our family owns huge property in Malapascua
which covers most of the beachfront on the
island,” he said.
This super-upscale project, will build villas on
the sea, “just like in Maldives,” he described.
The floors would be made of glass to enable one
to view the sea from inside the villa.

3. Diving will be one of the major water-sports
activity highlights in this expensive resort, he
said. Using Malapascua as the jump-off site,
tourists will be toured to different alluring diving
sites in Cebu and Bohol seas.
Martin, who practically grew up and learned the
fine jewelry trading, will now apply this expertise
in creating some potential sites in Cebu to be
crafted just like an expensive fine jewelry.
“Cebu is a jewel. Everything will be made
possible if you have the creativity. I have a lot of
plans for Cebu. The business is here,” he said.
He now starting to take-over the Diamond
empire business of his father, Carlos, while also
hands-on in the operations of the different
subsidiary businesses of MSY Holdings, which
businesses included real estate projects in
Cebu.
In Hong Kong, Martin owns a premium jewelry
retail store called Rockcandy, apart from being
the top executive of his family’s businesses
there, the Fairway Diamond Co. Ltd., and
Simplexdiam Co. Ltd.
Since childhood, he only came to Cebu to visit,
being the hometown of his mother Mariquita.

4. Slowly as he learned the art of business, he has
seen the huge potential of Cebu to take the
spotlight as the world’s most desirable
destination.