MANILA, Philippines (UPDATED) – Manila Bulletin chairman of the board Emilio Yap died Monday, April 7, Manila Bulletin announced in a statement. He was 88.
Founded in 1906, Manila Bulletin is the second oldest newspaper in the Philippines after The Manila Times.
Aside from his media venture, Yap was also known as a banking tycoon.
Forbes magazine named him as the 13th richest Filipino in 2013.
President Benigno Aquino III extended his condolences to Yap, who he described as “self-effacing” with a “kindly disposition and concern for his employees and staff.”
“I convey my deepest sympathies to the Yap family in this time of loss and mourning, and hope that they can draw strength from the knowledge that Mr. Yap lives on in the legacy he leaves behind, one distinguished both by personal success and by an abiding generosity,” Aquino said in a statement.
The President also recognized Yap’s various achievements “ranging from banking, to hotels and restaurants, to shipping, to publishing, and even to education.”
“In particular, he always upheld the deepest optimism and confidence in the abilities of the Filipino and in the success of the country. Indeed: he was a true exponent of Philippine progress,” he said.
Aquino said he knew Yap personally not just as a friend of his mother’s, the late President Corazon Aquino, “but of the entire family as well.”
“We will always treasure the memories we shared with him,” he added.
Yap served as chairman of the board of the Manila Hotel Corporation and of Centro Escolar University, and chairman emeritus of Philippine Trust Company.
He was a known philantropist, donating to charitable causes on peace, education and disaster relief, among others. For his contributions, Yap was conferred 23 honorary doctoral degrees from universities in the Philippines and abroad.
Arrangements for his funeral services have yet to be announced. – Rappler.com