JG Summit - updates

Rappler's latest stories on JG Summit

ARTICLE FINDER

'Perfect storm' over? JG Summit income up 79% in H1 2019

Aug 14, 2019 - 9:15 PM

JG Summit nets P17.6 billion in the 1st half of 2019, as inflation eases and consumer spending improves


JG Summit net income grows by 54% in Q1 2019

May 15, 2019 - 8:10 PM

JG Summit Holdings is off to a good start in 2019, driven by its food, air transport, and property businesses

HEADWINDS. JG Summit's net income in 2018 dips by 24%. Photos from JG Summit, Wikimedia commons

Inflation, weak peso batter JG Summit's earnings in 2018

Apr 16, 2019 - 7:05 PM

JG Summit's net income drops by 24% in 2018. CEO Lance Gokongwei says the conglomerate braved a 'perfect storm' and remains optimistic for the coming years.

JG Summit Holdings subsidiary adopts Boracay wetland

Mar 07, 2019 - 3:45 PM

(UPDATED) JG Summit Petrochemical Corporation is the latest firm to strike a partnership with the Department of Environment and Natural Resources for the rehabilitation of a Boracay wetland

Filinvest, JG Summit sign 25-year Clark airport operations deal

Jan 25, 2019 - 5:29 PM

The consortium commits to draw experience from the Singapore-based Changi group, which is also a partner

CLARK. The Clark International Airport is envisioned to be the next major gateway in the Philippines. Photo from Shutterstock

NAIA Consortium gains original proponent status for P102-B airport rehab

Sep 13, 2018 - 6:02 PM

The proposal to rehabilitate the Ninoy Aquino International Airport is now up for the approval of the National Economic and Development Authority Board

REHAB. NAIA Consortium has been awarded the "original proponent status" by the government for the rehabilitation of the country's main gateway. File photo by Ben Nabong/Rappler

URC net income slides further in Q1 2018

Apr 30, 2018 - 7:00 PM

The food manufacturing giant reports a net income of P3 billion in the 1st quarter of 2018, down 12%, as a weaker peso, inflation, and competition take a toll on domestic sales

JG Summit's core profits dip slightly in 2017

Apr 13, 2018 - 6:35 PM

Its earnings from its petrochemicals unit are offset by losses from URC and Cebu Pacific

DOTr to review P350-billion NAIA rehabilitation proposal

Feb 18, 2018 - 10:05 PM

The Department of Transportation expects to finish its evaluation of the Ninoy Aquino International Airport proposal by top conglomerates in April

REHABILITATION. Passenger traffic to NAIA is expected to continue to grow significantly over the coming years and the existing runway configuration may be unable to accommodate the future flows. Photo By Ben Nabong/Rappler

'Super consortium' formalizes P350-billion NAIA rehab proposal

Feb 13, 2018 - 12:30 PM

The consortium's members are Aboitiz InfraCapital, AC Infrastructure, Alliance Global, Asia's Emerging Dragon, Filinvest, JG Summit, and Metro Pacific

REHABILITATING NAIA. The consortium teams up with Singapore's Changi Airports International Private Limited to provide technical support in the areas of master planning, operations optimization, and commercial development. Image from Aboitiz Corporate Communications

Conglomerates form ‘Super Consortium’ to propose NAIA upgrade

Dec 21, 2017 - 3:37 PM

The Ayala, Aboitiz, Gokongwei, Gotianum, Metro Pacific and Andrew Tan groups will submit their unsolicited bid to the Department of Transportation

Conglomerates in talks for 'super consortium' to upgrade NAIA

Dec 07, 2017 - 3:50 PM

Andrew Tan's Alliance Global and Lucio Tan's LT Group confirm there are talks with other business groups, though no formal agreements have been reached

John Gokongwei proves family-run conglomerates work

Nov 27, 2017 - 8:40 PM

The JG Summit founder says the conglomerate has maintained its core values and long-term vision even as it went public and reached out to global markets

FAMILY MATTERS. John Gokongwei Jr (center) poses with his family after receiving MAP's Management Man of the year for 2017 in a ceremony held on November 27 in Taguig City. Photo by Alecs Ongcal/Rappler

Robinsons Land targets to raise P20B in stock rights offering

Nov 24, 2017 - 6:20 PM

Approximately 950 million to 1.1 billion common shares are to be offered, with the majority of proceeds to be used to fund land acquisition

Filinvest, JG Summit tap Changi as partner in Clark Airport bid

Nov 14, 2017 - 6:33 PM

The consortium of Gotianuy and Gokongwei groups appoints Changi Airports International as technical partner for its new P839 billion proposal to develop and operate Clark Airport

John Gokongwei Jr is MAP man of the year 2017

Oct 25, 2017 - 7:39 AM

The JG summit founder is chosen by the Management Association of the Philippines for his leadership in making the Gokongwei Group of companies a force for nation building

8 Philippine companies among world's largest listed firms

May 25, 2017 - 8:00 PM

SMIC BDO JG Summit Ayala Top Frontier Metrobank Aboitiz and Meralco – with a combined market value of 72 4 billion – make it to Forbes 2017 Global 2000 list

LISTED. 8 Philippine companies were included in the Forbes' list of 2000 largest public companies in 2017.

The legend of Mariano Que

Apr 25, 2017 - 6:25 PM

In a way it is impossible to talk about Philippine medicine without mentioning Mariano Que Yet so little was known of the man who built Mercury Drug

PASSING. Founder of Mercury Drug, Mariano Que, passed away last week, as reported on the company's Facebook page on April 14, 2017.

Can conglomerates foster inclusive development in PH?

Apr 03, 2017 - 10:00 AM

The country faces a dilemma in development as it strives to achieve growth and progress amid distress and poverty

DILEMMA. The Philippines is one of the fastest growing economies despite having the third highest poverty incident rate in ASEAN.

GMR-Megawide consortium alarmed over Clark airport proposal

Mar 13, 2017 - 10:40 PM

The consortium asks the Department of Transportation to clarify why its proposal for the airport was abandoned

PROPOSAL. GMR-Megawide group submits P250-billion, 50-year proposal to upgrade, operate and maintain Clark airport. Screenshot from Megawide group

Is it Filinvest vs Megawide again for Clark airport development?

Mar 02, 2017 - 6:10 PM

The Filinvest JG Summit consortium has a P187 billion proposal Megawide GMR previously submitted a proposal that was discontinued but the DOTr says the project remains open for everyone

HEAD TO HEAD. This is the 3rd time Filinvest and Megawide will battle for a public infrastructure project. Rappler file photo

URC, Hong Kong-based Vitasoy to bring plant-based drinks to PH

Feb 16, 2017 - 7:35 PM

Vitasoy makes its plant based products in Hong Kong China Australia and Singapore and sells to more than 40 markets globally

Gokongwei's JG Summit sees income jump almost 50%

Nov 15, 2016 - 4:23 PM

The increase is due to the double digit income growth in its airline business which benefited from the drop in fuel prices and the performance of its petrochemicals business

ALMOST 50%. INCHING UP. The increase in its net income is due to the growth in airline and petrochemical revenues. In the photo are John Gokongwei Jr. (right) and son Lance (left). File photo

Henry Sy still PH's richest man for 9th straight year – Forbes

Aug 25, 2016 - 1:35 PM

The biggest gainer on the list of richest Filipinos percentage wise is Edgar Sia II

How Lance Gokongwei will continue supporting Duterte

Jun 10, 2016 - 2:51 PM

The president and chief operating officer of JG Summit says he will support Duterte through hard investments in the country and creation of more jobs

PERSONAL CAPACITY. Lance Gokongwei was considered by Duterte to head the Department of Finance, after Carlos Dominguez III initial rejected the offer. But Gokongwei says he will support Duterte as head of JG Summit. Photo by Naoki Mengua/Rappler

JG Summit founder sells $250M worth of shares

May 26, 2016 - 6:10 PM

Sale of Gokongwei s JG Summit shares are for estate planning purposes

SHARE SALE. After the transaction, Gokongwei, who sits as chairman emeritus of JG Summit, still has 58 million direct shares in the conglomerate. Photo by Jake Verzosa

The time has come to break free from fossil fuel

May 17, 2016 - 3:06 PM

While we have been so active in climate change negotiations we have to match it with actually protecting and conserving our environment We have all the progressive laws and policies but the problem is implementation

JG Summit net income rises to P22.61B in 2015

Apr 13, 2016 - 7:15 AM

Firms under the Gokongwei led conglomerate see higher revenues led by the JG Summit Petrochemicals Group Robinsons Land URC and Cebu Pacific Air

JG Summit plant violated environmental regulations –DENR

Aug 19, 2015 - 5:35 PM

If the violation was due to negligence the company may face a fine of at least P50 000

BLACK SMOKE. A screengrab of a video by Aj Soriano posted on Facebook shows clouds of smoke from the JG Summit chemical plant in Batangas

Bidders for regional airports PPP to submit bids on Aug 17

Aug 16, 2015 - 7:56 PM

The DOTC says the opening of bids is scheduled in January 2016 while the award will follow in February

Notice of violation issued to JG Summit chemical plant

Aug 15, 2015 - 8:56 PM

The EMB obtains samples from the facility that through an analysis will show if the plant violated environmental regulations which caused stomach pains dizziness and vomiting among locals

VIOLATION? Smoke and flames rise from the JG Summit plant in Batangas in this photo posted on Facebook by Michael Ilagan

JG Summit's net income inches up in first semester

Aug 15, 2015 - 5:22 PM

The conglomerate of the Gokongwei family says it saw its net income climb to P13 43 billion 290 85 million in the first half of the year – only a 4 4 increase from the same period last year

Stench from chemical plant engulfs Batangas villages

Aug 14, 2015 - 8:09 PM

Residents complain the powerful stench is nauseating

Smartmatic deal, Batangas plant, China blast | 12PM wRap

Aug 14, 2015 - 12:45 PM

Watch the 12PM edition of Rappler s newscast The wRap

Kids' stomach pain, dizziness blamed on JG Summit plant

Aug 14, 2015 - 8:29 AM

Residents of nearby villages describe the smell from the plant as like burning plastic

Comelec on 2016, Batangas chemical plant, Pacquiao’s shoulder | 6PM wRap

Aug 13, 2015 - 11:54 PM

Watch the 6PM edition of Rappler s newscast The wRap

'Sickening' smoke rises from chemical plant near Verde Island Passage

Aug 13, 2015 - 10:04 AM

UPDATED WITH VIDEO Napakabaho po parang lason Sobra pong sakit sa ulo pag naamoy kahit po takpan ng kamay ang ilong says a resident describing the stench of the smoke from the JG Summit plant that has affected coastal villages

WORRISOME. Smoke and flames rise from the JG Summit coal plant in Batangas in this photo posted on Facebook by Michael Ilagan

In Batangas, a battle against coal

May 27, 2015 - 11:45 AM

If companies like JG Summit truly believe in securing energy independence for this country then dirty dirty coal has got to go

Mima Mendoza and Tony La Viña

8 PH firms in Forbes 'world’s biggest public companies' list

May 07, 2015 - 6:13 PM

The PH firms make it to the list of 2000 largest public companies as measured by revenues profits assets and market value

Meralco strengthens portfolio in power sector

Feb 25, 2015 - 5:42 PM

The utility firm is also exploring taking in a foreign partner

JG Summit earnings up 88% in Jan-Sept

Nov 14, 2014 - 9:05 PM

Consolidated revenues grows to P132 7 billion attributed to its major subsidiaries’ strong performance

JG Summit, Aboitiz, 3 more eye largest PPP project

Aug 31, 2014 - 9:21 PM

At least 19 interested bidders are eyeing the Aquino administration s biggest public private partnership project

Map of the Laguna Lakeshore Expressway Dike Project. Image from dpwh.gov.ph

Gov’t upholds removal of ‘redundant’ Digitel employees

Aug 27, 2014 - 11:45 AM

PLDT hopes the NLRC resolution will put to rest its dispute with the Digitel labor union

Alexis Valdez on the 5th day of his hunger strike

One-time gains, Meralco boost JG Summit’s H1 earnings

Aug 14, 2014 - 11:54 AM

The Gokongwei led holding firm says its major subsidiaries also performed strongly during the period

PHILIPPINES, Manila : Cebu Pacific chief executive Lance Gokongwei speaks during a press conference in Manila on June 16. AFP PHOTO / NOEL CELIS

Gokongwei, PLDT exec join Meralco board

Apr 01, 2014 - 5:34 PM

They replace San Miguel president and COO Ramon Ang and San Miguel director Estelito Mendoza

NEW IN MERALCO. Filipino billionaire John Gokongwei Jr. joins Meralco's board of directors following his company's acquisition of a stake in the utility company. Photo by Jake Verzosa

Gokongwei-led JG Summit spending less this year

Mar 03, 2014 - 8:11 AM

The conglomerate allots P40B for expansion in 2014 bulk of which will go to its property and food manufacturing businesses

Cebu Pacific chief executive Lance Gokongwei speaks during a press conference in Manila on June 16. AFP PHOTO / NOEL CELIS

JG Summit gets SEC ok for P30-B bond issue

Feb 07, 2014 - 10:41 AM

The Gokongwei led holding company is raising funds to finance its acquisition of shares in power distributor Meralco

DEAL. JG Summit acquires a substantial stake held by the San Miguel group in power distributor Meralco. Photo taken by AFP

Cebu Pacific in talks with Tigerair for possible acquisition

Jan 04, 2014 - 7:57 AM

Cebu Pacific would like to take advantage of growth and profit opportunities by forging strategic alliances with other companies including Tigerair

Photo courtesy of Airbus

JG Summit raises nearly P9B to fund Meralco purchase

Nov 26, 2013 - 1:02 PM

The Gokongwei led conglomerate is buying 27 of Meralco from San Miguel Corporation

BIG DEAL. JG Summit is buying the shares held by the San Miguel group in power distributor Meralco. AFP PHOTO

Gokongwei's JG Summit posts lower profit on weak peso

Nov 11, 2013 - 10:18 PM

The conglomerate says its liabilities grew as a result of the depreciation of the peso