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Manila Bulletin devider Business devider SBS Phils. Corp. founder Necisto U. Sytengco passes away at 65

SBS Phils. Corp. founder Necisto U. Sytengco passes away at 65

Published Mar 19, 2020 12:00 am
By Noreen Jazul Necisto U. Sytengco, the founder and chairman of chemical trading company SBS Philippines Corporation, passed away on Tuesday. He was 65. Necisto U. Sytengco (Asia Pacific Enterprise Awards) Necisto U. Sytengco
(Asia Pacific Enterprise Awards) SBS Philippines Corporation announced the death of Sytengco in a disclosure to the Philippine Stock Exchange on March 18. “It is with great sadness that the board of directors and management of SBS Philippines Corporation (the ‘Company’) announce that today, it was informed of the death of its founder and chairman of the board Mr. Necisto U. Sytengco,” the company said. “Together with his children and long-time colleagues, Mr. Sytengco established the Sytengco Group of Companies and made it into one of the country's premier conglomerates.” In the disclosure, SBS Philippines also announced the cessation of Sytengco’s term as the company’s chairman of the board, which took effect on March 17, the date of his death. Sytengco served as chairman of SBS Philippines Corporation from March 2015 until present. He was also the company's president from July 2001 to January 2016. With an estimated net worth of $210 million in 2019, Sytengco was named the 39th richest man in the Philippines by Forbes magazine. In 2018, Sytengco was named Entrepreneur of the Year by Enterprise Asia, a “non-governmental organization for entrepreneurship.” Just last March 11, Enterprise Asia featured Sytengco as its “Alumni of the Month.” “He is an exemplar of excellence in his career and has positively influenced the business world and also various community with the establishment of Sytengco Foundation where he emphasizes on addressing health, education and environment issues,” the organization wrote.
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