JG Summit Holdings

JG Summit Holdings, Inc
Public
Traded as PSE: JGS
Industry Various
Founded 1957 (1957)
Founder John Gokongwei Jr.
Headquarters Robinsons Equitable Tower, Pasig, Philippines
Key people
 James L. Go
(Chairman and CEO)
Lance Y. Gokongwei
(President and COO)
Products Petrochemicals
Services Banking and Investments, Transportation, Real Estate, Manufacturing, Publishing, Telecommunications, Power generation
Revenue $2.830 billion USD (2010)[1]
$375 million USD (2010)
Subsidiaries Universal Robina
Robinsons Land Corporation
Cebu Pacific
United Industrial Corporation Limited
Robinsons Bank
JG Summit Petrochemical Corporation
Website http://jgsummit.com.ph/

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. Companies that JG Summit Holdings has major holdings include Digital Telecommunications Philippines, and Cebu Pacific. Its Chairman Emeritus and Founder is 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]

Companies

Manufacturing

Real Estate

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

Air Transport

Financial

Utilities

Others


Former Businesses

  • Philippine Commercial International 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.
  • Far East Bank and Trust Company - Sold the shares to BPI during the time PCIBank was acquired by Equitable, the GSIS and the SSS.
  • Digital Telecommunications Philippines (Digitel and Sun Cellular) - Acquired by PLDT last March 2011. As part of the deal, JG Summit will have a 12% share in PLDT. It was finalized by the National Telecommunications Commission last October 26, 2011.

References

  1. ↑ JG Summit Holdings 2006 Annual Report Archived 2007-09-28 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. 2006-12-31. Archived from the original on October 17, 2007. Retrieved 2007-01-03.

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.
  • Macuja, Ana Marie (February 15, 2006). "JGS slates new share offer for RLC (free article preview)". Manila Bulletin.


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