JG Summit Holdings

JG Summit Holdings, Inc. (JGSHI) is one of the largest conglomerates in the Philippines with business interests in air transportation, banking, food manufacturing, hotels, petrochemicals, power generation, publishing, real estate and property development, and telecommunications. Key subsidiaries include Universal Robina and Cebu Pacific. Incorporated in November 1990, JG Summit Holdings was founded by John Gokongwei Jr., one of the wealthiest individuals in Southeast Asia.^[2] In 2010, JGSHI was one of the ten most profitable companies on the Philippine Stock Exchange.^[3]

JG Summit Holdings, Inc.

Company type	Public
Traded as	PSE: JGS
Industry	Various
Founded	1990; 35 years ago (1990)
Founder	John Gokongwei Jr.
Headquarters	Robinsons Equitable Tower, Pasig, Philippines
Area served	Philippines
Key people	James L. Go (Chairman and CEO) Lance Gokongwei (President and COO)
Products	Petrochemicals
Services	Banking and investments Transportation Real estate Manufacturing Publishing Telecommunications Power generation
Revenue	₱312.4 billion PHP (2022)[1]
Net income	₱6.2 billion PHP (2022)
Subsidiaries	Cebu Pacific JG Summit Petrochemical Corporation LIPAD Corporation Robinsons Bank Robinsons Land Corporation United Industrial Corporation Limited Universal Robina
Website	Official website

Companies

Manufacturing

• JG Summit Petrochemical Corporation
• JG Summit Olefins Corporation
• Universal Robina Corporation – is one of the largest branded consumer food and beverage product companies in the Philippines.

Real estate

• Robinsons Land Corporation (including Robinsons Malls)
• United Industrial Corporation Ltd. (Singapore) – 37% ownership

Air transport

• Cebu Pacific
  • AirSWIFT
  • Aviation Partnership Philippines
  • Cebgo
  • 1Aviation Groundhandling Services Corp (40%)
• LIPAD Corporation (operator of Clark International Airport) – a consortium with Filinvest Development Corporation, Philippine Airport Ground Support Solutions Inc., and Changi Airports Philippines Pte. Ltd.^[4][5]

Financial

• GoTyme Bank (joint venture with Tyme Group)^[6]

Utilities

• Global Business Power Corporation (30%)
• PLDT, Inc. (11.27%)
• Meralco (29.56%)

Others

• iTech Global Business Solutions, Inc.
• GMA Network, Inc.
• Go Hotels
• Robinsons Hotels & Resorts
• Summit Hotels and Resorts
• Summit Media
• Universal Hotels and Resorts Inc.
• DHL Summit Solutions Inc. (joint venture with DHL)^[7]

Former businesses

• Digital Telecommunications Philippines (Digitel and Sun Cellular) – Acquired by PLDT in March 2011. As part of the deal, JG Summit will have a 12% share in PLDT. It was finalized by the National Telecommunications Commission on October 26, 2011.
• Far East Bank and Trust Company – Sold the shares to BPI during the time PCIBank was acquired by Equitable, the GSIS and the SSS.
• Philippine Commercial International Bank (PCI Bank) – A joint venture between Benpres, and the Lopez Group of Companies. Both sold their shares in 1999 to the SSS and GSIS which gave way to the Equitable Banking Corporation – Philippine Commercial International Bank merger and eventually became Banco de Oro Universal Bank.
• Griffin's Foods (New Zealand) – sold to Intersnack, a subsidiary of German company Pfeifer & Langen.^[8]
• Snack Brands Australia (Australia) – sold to Intersnack, a subsidiary of German company Pfeifer & Langen.
• SIA Engineering (Philippines) Corporation – sold the remaining 35% ownership to SIA Engineering Company.

References

1. Archived September 28, 2007, at the Wayback Machine
2. Doebele, Justin (September 8, 2005). "Southeast Asia's 40 Richest". Forbes.
3. "Year End Report - Transco, telcos, economic growth". Manila Times. December 31, 2006. Archived from the original on October 17, 2007. Retrieved January 3, 2007.
4. "Lipad Corporation takes over Clark airport operations". Rappler. August 18, 2019. Retrieved September 20, 2019.
5. Orejas, Tonette (August 16, 2019). "Lipad consortium takes over Clark airport". Philippine Daily Inquirer. Retrieved September 20, 2019.
6. Monzon, Alden M. (October 9, 2023). "GoTyme Bank eyeing Vietnam expansion". INQUIRER.net. Retrieved October 10, 2023.
7. "JG Summit Holdings & DHL Supply Chain Form Joint Venture in the Philippines".
8. "Intersnack New Zealand Holding Company".

Further reading

• Austria, Jenniffer B. (November 15, 2006). "JG Summit income surges 128% to P5.6b". Manila Standard Today.
• Austria, Jenniffer B. (June 30, 2006). "JG Summit borrowing $600m for petrochem". Manila Standard Today.
• "JG Summit Holdings, Inc. Unit Announces $240 Million Share Sale". Reuters. February 7, 2006.^{[dead link‍]}
• Macuja, Ana Marie (February 15, 2006). "JGS slates new share offer for RLC (free article preview)". Manila Bulletin.

External links

• Media related to JG Summit Holdings at Wikimedia Commons
• JG Summit corporate website