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 on November 1990, it 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]
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| Public | |
| Traded as | PSE: JGS |
| ISIN | PHY444251177  |
| Industry | Various |
| Founded | 1990 |
| Founder | John Gokongwei Jr. |
| Headquarters | Robinsons Equitable Tower, Pasig, |
Key people |
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| Products | Petrochemicals |
| Services |
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| 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 LIPAD Corporation |
| Website | http://jgsummit.com.ph/ |
Companies
Manufacturing
- Universal Robina Corporation - is one of the largest branded consumer food and beverage product companies in the Philippines.
- JG Summit Petrochemical Corporation
- JG Summit Olefins Corporation
Real estate
- Robinsons Land Corporation (including Robinsons Malls)
- United Industrial Corporation Ltd. (Singapore) - 37% ownership
Air transport
- Cebu Pacific
- Aviation Partnership Philippines - 49% ownership
- SIA Engineering (Philippines) Corporation - 35% ownership
- 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
Utilities
- PLDT, Inc. (8%)
- MERALCO (29.6%)
- Global Business Power Corporation (30%)
Others
- Summit Hotels and Go Hotels
- Summit Media
- iTech Global Business Solutions, Inc.
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
- JG Summit Holdings 2006 Annual Report Archived 2007-09-28 at the Wayback Machine
- Doebele, Justin (September 8, 2005). "Southeast Asia's 40 Richest". Forbes.
- "Year End Report - Transco, telcos, economic growth". Manila Times. 2006-12-31. Archived from the original on October 17, 2007. Retrieved 2007-01-03.
- "Lipad Corporation takes over Clark airport operations". Rappler. 18 August 2019. Retrieved 20 September 2019.
- Orejas, Tonette (16 August 2019). "Lipad consortium takes over Clark airport". Philippine Daily Inquirer. Retrieved 20 September 2019.
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.
External links
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| Former |
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