Here is your Forbes Daily Briefing for Sunday August 11th.

Today on Forbes, this billionaire Beer Baron wants to rebuild the Philippines.

The opening photo on the website of San Miguel, best known for its eponymous 134-year-old

beer brand, isn't that of its brewery, but of a 39-kilometer elevated expressway connecting Metro Manila with nearby provinces to its north and south.

That pictorially depicts the biggest stakes for the storied conglomerate today.

Under Chairman Ramon Ang,

the company has repositioned itself as a nation builder

with an ambitious push into infrastructure,

winning bids for airports, toll roads, and power plants at nothing short of a frenetic pace.

In March, it won a 171 billion peso, about 2.9 billion dollar, contract,

to upgrade and operate Manila's aging Nenoy Aquino International Airport,

the country's main gateway.

Even while it's halfway through constructing the new 735 billion peso Bulacan Airport, roughly 40 kilometers

north of the capital city.

The same month, San Miguel Global Power Holdings announced a three-way partnership with the Aboitiz

family's Aboitiz Power and Maralco PowerGen backed by Metro Pacific Investments

which is jointly owned by Indonesian billionaire Anthony Salim's first Pacific and

Filipino businessman Manuel Pangulainan.

The three-way partnership's purpose is to develop a 3.3 billion dollar integrated liquefied natural gas facility in Batangas province, south of Manila.

This buzzing pipeline of infrastructure projects has made San Miguel the most indebted company in the Philippines today,

with a staggering debt load of 1.5 trillion pesos, equivalent to about $26 billion, as of 2023.

The company's debt to equity ratio of 2.2

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