Staying next to Sy on the Forbes list was JG Summit founder John Gokongwei Jr, who has a net worth of $6.8 billion, up from $5.5 billion last year.
Forbes noted that Gokongwei has developed JG Summit into the "Philippines' fifth largest company with a market capitalization of $13.2 billion and diverse business interests including an airline, banking, food, hotels, power, chemicals, real estate and telecommunications."
JG Summit subsidiaries include JG Summit Petrochemical Corporation; CP Air Holdings, Incorporated; Universal Robina Corporation (URC); Robinsons Land Corporation; and Robinsons Bank Corporation.
Gokongwei-led Cebu Pacific Air saw its net income surge by P8 billion in the first 6 months of the year, after it breached the 10-million mark in passenger volume.
URC, meanwhile, recently announced it is buying Snack Brands Australia for AU$600 million (US$460.55 million or P21.38 billion).
JG Summit also holds an 8% interest in PLDT and a 27.1% interest in Meralco.
Gokongwei is featured on the cover of Forbes Asia's September 2016 issue. His daughter, Robina Gokongwei-Pe, was also included in Forbes Asia's Power Businesswomen 2016 list.
MANILA - Gokongwei-led conglomerate JG Summit Holdings booked a 30.6 percent increase in profit in the first semester of 2016, on the back of double-digit income growth in its airline and petrochemicals businesses.
Its net income reached P17.53 billion in January to June from last year’s P13.43 billion.
“Increase is mainly due to the double-digit income growth in our Airline business, which benefited from the drop in fuel prices, and our petrochemicals business, which expanded significantly since the start of its integrated operations in November 2014,” JG Summit told the local bourse.
Consolidated net income from equity holders of the parent reached P7.90 billion for the second quarter of 2016 from P7.44 billion during the same period last year.
Cebu Air’s total revenues went up by 12.2 percent from P29.51 billion to P33.09 billion in January to June due to 8.7-percent increase in passenger volume and 10.4-percent rise in average ancillary revenue per passenger.
Higher volume of polymers sold and olefins exported lifted JG Petrochemicals Group revenues increasing 6.8 percent to P12.97 billion from P12.15 billion.
Robinsons Land Corp.’s total revenues also increased by 11.1 percent from P9.79 billion in 2015 to P10.87 billion in 2016 brought about by the additional revenue contribution of the three newest malls and three office buildings.
Universal Robina Corp.’s total revenues slightly rose from P54.93 billion to P55.46 billion for the first half of 2016 due to increase in net sales of sugar, feeds and renewable energy businesses, offset by the decrease in net sales of branded consumer foods group, international operations.
The banking revenue increased 14.5 percent from P1.41 billion for the first half of 2015 to P1.62 billion for the same period this year mainly due to increase in interest income recognized from finance receivables.
Revenue from other supplementary business recorded a 12.5-percent decrease due to lower commission and rental income for the period.
By: Leslie D. Venzon, PNA
August 12, 2016 8:19 PM
InterAksyon.com means BUSINESS
SALES MANAGER / SENIOR SALES MANAGER / PREMIER SALES MANAGER
Robinsons Land Corporation (RLC), one of the Philippines' leading real estate companies, is involved in the development and operation of shopping malls and hotels, and is also one of the country's most reputable developers of mixed-use properties,office buildings, residential condominiums, as well as land and residential housing developments, including socialized housing projects located in key cities and other urban areas nationwide.
RLC was incorporated on June 4, 1980 to serve as the real estate arm of JG Summit Holdings, Inc., one of the country's largest conglomerates with diverse interests in branded consumer foods, agro-industrial and commodity food products, textile, telecommunications, petrochemicals, air transportation and financial services.
Compensation commensurate with qualification.
Robinsons Land Corp. (RLC) ended 2015 by receiving another accolade for its four-tower residential complex called The Sapphire Bloc developed by Robinsons Residences, a trusted residential development brand under RLC.
The Sapphire Bloc represented the Philippines as “Best Condo Development” in the prestigious South East Asia Property Awards 2015. This real estate award giving body is known as the largest and most recognized industry awards event in the region.
The Sapphire Bloc is strategically located in the Ortigas Center.
RLC joined the roster of top honorees from a pool of about 400 top and emerging names in the South East Asian real estate industry. The awarding ceremonies were held recently at the Shangri-La Hotel Singapore.
Earlier in the year, The Sapphire Bloc bagged the “Best Condo Development” (Philippines) and “Best Mid-Range Condo Development” (Metro Manila) awards at the 2015 Philippine Property Awards which has been rewarding high-caliber work in construction, architecture and interior design of property developments in Asia.
Moreover, RLC was named “Outstanding Developer” by FIABCI, a Paris-based real estate federation for its other residential project called The Trion Towers.
“To be highly commended in the South East Asia Property Awards further drives us to continuously innovate on what comfortable and modern condo living means,” said Trina Cipriano, VP for Business Development at RLC.
Located at the Ortigas Center in Pasig, The Sapphire Bloc is RLC’s latest foray in modern vertical development that has since become a member of an elite league of other property projects now being recognized throughout the region.
Its Art Deco architecture amid contemporary buildings gives the Pasig City skyline a unique charm. Its enviable location provides added value since it is connected to three major cities, and is near many shopping malls, offices, skyscrapers, building complexes, nightlife bars and restaurants.
Moreover, the master-planned development offers retail space measuring up to 8,000 sqm that is currently redefining destination dining in the metro. The entire stretch of the ground floor has been dedicated to serving up new and one-of-a-kind retail shops which can satisfy every craving.
Its medley of interesting shops and restaurants include the restobar Cable Car, premium coffee shop Starbucks Reserve, after-work drink and dine destination Moonshine PUB and casual dining places such as The Stockpile, Sobremesa, the all-day breakfast place Seven:AM, the ice cream parlor Papa Diddi’s Handcrafted Ice Cream Company by Paul Perez, the Filipino culinary find Cazuela, and Kko Kko which serves unique Korean cuisines.
“The Sapphire Bloc has proven our company’s commitment to our ‘City Living Done Right’ mantra, that aims to offer a level of distinction on comfortable and stylish living in the metro,” added Trina.
“Representing the country in the South East Asia Property Awards further inspires us to continue embedding the highest industry standards in all our developments.”