A company is considered a monopoly when they are the only existing company in the market who are able to produce and distribute a particular product or service. And this phenomenon is something currently being avoided at all cost because of its negative effects to the market and consumers.
Which explains how the majority of the companies listed below are not really considered a full-monopolistic company; Nevertheless, some of the following, did experience a time of being the only producer of their service and product- and while other competitions and alternative brands had come up on the market, the following is still without a doubt reigns over their respective field of market.
Meralco
Since its establishment in 1903 as Manila Electric Rail Road and Company-Meralco had succeeded in achieving many achievements such as becoming the first Filipinized company, when it was bought by Eugenio Lopez Sr. in 1961 from its former American owners.
Meralco also bagged the owner being the first-ever billion peso company in the Philippines in the year 1969. Under the government’s command in 1980, the company was also the one behind the who organized, started and operated Philippines ’ first elevated light rail transit (LRT)- with the system later on passed on to the government to be mandated.
While alternative energies had been introduced in the Philippines, one way or another household across the country still heavily relies on the electricity provided by Meralco-one of the privately owned company in the Philippines.
1Bataan Integrated Transport System
Bataan is one of the recently emerging famous go-to destinations near Manila, because of its picturesque and historically rich tourist spots. And for the people coming Manila, the easiest and fastest way to visit this nearby vacation get-away place is through the 1Bataan Integrated Transport System.
As of writing 1Bataan Integrated Transport System holds a monopoly in terms of ferry routes which are going back and forth from Manila to Orion, Bataan.
The transportation system funded a product of a public-private-partnership between Magic Leaf and the Provincial Government of Bataan, which are created to provide better access to one of Central Luzon’s fastest-growing provinces, which in return promotes the industrial growth and tourism of the area.
With its well-mandated system, and interior furnish to provide comfort and ease to passengers, 1Bataan Integrate Transport System is continuously receiving great feedback from its customers.
Grab
After Grab won over Uber’s Southeast Asian operation-Grab, for a brief time held a virtual monopoly as the only car-hailing application available in the Philippines, before LTRFB accredited six (6) new transport network companies called Micab, Hirna, Hype, Owto, and GoLag.
Nevertheless, Grab’s loyal customers, reputable brand name and an array of services still made the virtual mobile application the go-to service provider among Filipinos when hailing a cab.
The company which currently offer varying services such as transportation, bills, and payment assistance, food and package delivery, started in Kuala Lumpur back in 2012, inside a tiny storage space where a group of ambitious and optimistic friends questions the safety of riding a hailed ride, the bad working conditions of the drivers and asking themselves if they can do something about those problems their community faces.
Those questions gave birth to the idea, which now turns into Southeast Asia’s largest mobile technology company.