Reduced liabilities from its mothballed petrochemical unit, combined with stronger performances in travel and real estate, helped propel core earnings at JG Summit Holdings Inc., the country’s second-largest conglomerate by market value. In a disclosure to the Philippine Stock Exchange, JG Summit...
Doubts have been raised whether Gokongwei flagship JG Summit Holdings Inc. (JG Summit) can easily sell its petrochemicals business, JG Summit Olefins Corp. (JGSOC), in light of the number of distressed giant petrochemical companies in the region that are “in the same boat.” “There is no...
Gokongwei-led JG Summit Holdings Inc. (JGS) reported that its net income inched up in the first half of 2025 due to the strong performances of its subsidiaries coupled with tapering losses in its petrochemical business, which was closed this year. In a disclosure to the Philippine Stock Exchange...
JG Summit Holdings, Inc. (JGS), the flagship of the Gokongwei Group, is directly shouldering the debts of its petrochemicals subsidiary which will soon be letting go of its workers due to its two-year plant shutdown and possible disposal. During the firm’s annual stockholders’ meeting, JG...
JG Summit Holdings, Inc. (JGS), the flagship of the Gokongwei Group, is optimistic that its revenues and core earnings will continue to improve this year although shutdown costs of its petrochemical plant took a sizeable bite out of profits. “We are hopeful that the encouraging trends we are...
The Gokongwei Group is increasing its investments for its real estate and food and beverage units while investments for aviation drops as it expects fewer aircraft and engine deliveries. JG Summit Holdings Inc. said the sharply lower capital expenditures of Cebu Air Inc., down 49 percent to P33...
JG Summit Holdings Inc., the flagship of the Gokongwei Group, has announced the shutdown of its petrochemical business, JG Summit Olefins Corporation (JGSOC), due to substantial losses incurred amid challenging market conditions. In a statement, JGSOC said, "Given persisting unfavorable market...
JG Summit Holdings Inc., the flagship of the Gokongwei Group, is planning a temporary shutdown of its petrochemical business in the hope of reducing its operational losses. “Management noted that the petrochemical industry continues to face significant challenges, marked by continued softness in...
JG Summit Holdings Inc., the flagship of the Gokongwei Group, is considering various options to reduce its exposure to the massive losses of its petrochemical business—including possible divestment. According to Abacus Securities Corporation, JG Summit "implied that all options are on the table"...
President Marcos is hoping that a conglomerate company in the Philippines would continue to contribute to employment which will eventually enrich the country's economy. President Ferdinand 'Bongbong' Marcos Jr. (RTVM Screenshot) Marcos stated this as he led the inauguration of the expanded...
President Marcos paid tribute to business leader John Gokongwei Jr. for his contributions to the country through his business ventures. President Ferdinand 'Bongbong' Marcos Jr. (Noel Pabalate) In his speech during the inauguration of expanded petrochemicals manufacturing complex of the JG Summit...
Merbau Corporation, the renewable energy (RE) business unit of the Gokongwei-led JG Summit Holdings, Inc., has viably advanced to commercial operation its 13.811-megawatt peak (MWp) solar installation in Batangas City, a project touted as the biggest in the solar rooftop genre that has been...
