a filipino trend follower's blog: in the news: JGS/JG SUMMIT HOLDINGS, INC.

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16 APR 2020
JG Summit posts 63% profit surge to P31 billion
https://www.bworldonline.com/jg-summit-posts-63-profit-surge-to-p31-billion/

16 FEB 2020
Tax court denies JG Summit move on P1.3-B assessment
https://www.bworldonline.com/tax-court-denies-jg-summit-move-on-p1-3-b-assessment/

03 FEB 2020
Robinsons Bank targets to book P1-B net income
https://www.bworldonline.com/robinsons-bank-targets-to-book-p1-b-net-income/

26 JAN 2020
Salim exit plan? Lance being groomed to replace MVP as Gokongweis take over PLDT, Meralco
https://bilyonaryo.com.ph/2020/01/24/salim-exit-plan-lance-being-groomed-to-replace-mvp-as-gokongweis-take-over-pldt-meralco/

07 JAN 2020
Gokongwei group raises stake in PLDT to 11.23 percent
https://news.abs-cbn.com/business/01/07/20/gokongwei-group-raises-stake-in-pldt-to-1123-percent

17 AUG 2019
JG Summit doubles profit in 2nd quarter
https://www.bworldonline.com/jg-summit-doubles-profit-in-2nd-quarter/

01 JUN 2019
JG Summit allots P87.5 billion to fund ‘19 expansion
http://manilastandard.net/business/corporate/296124/jg-summit-allots-p87-5-billion-to-fund-19-expansion.html

19 MAY 2019
Robinsons Bank profit falls to P40 M
https://www.philstar.com/business/2019/05/19/1918946/robinsons-bank-profit-falls-p40-m

16 MAY 2019
JG Summit profit soars 54% to P7.4 B
https://www.philstar.com/business/2019/05/16/1918074/jg-summit-profit-soars-54-p74-b

24 APR 2019
Robinsons Bank books higher profit but misses guidance
https://www.bworldonline.com/robinsons-bank-books-higher-profit-but-misses-guidance/

19 APR 2019
JG Summit profit declines 35% amid ‘perfect storm’ in 2018
https://www.bworldonline.com/jg-summit-profit-declines-35-amid-perfect-storm-in-2018/

05 JAN 2019
Consortium investing P6b to maintain Clark airport
http://manilastandard.net/business/biz-plus/284546/consortium-investing-p6b-to-maintain-clark-airport.html

10 NOV 2018
JG Summit profit falls in Q3
https://www.bworldonline.com/jg-summit-profit-falls-in-q3/

29 AUG 2018
Robinsons Bank set to increase capital to P27 billion
Read more at https://www.philstar.com/business/2018/08/29/1846631/robinsons-bank-set-increase-capital-p27-billion#BWskEzl7xk30THzq.99

22 AUG 2018
Robinson Bank profit inches up 1.4% in first half of 2018
Read more at https://www.philstar.com/business/2018/08/22/1844633/robinson-bank-profit-inches-14-first-half-2018#BUyBcrw3fylb8t2j.99

04 JUL 2018
Robinsons Bank to open more branches
http://bworldonline.com/robinsons-bank-to-open-more-branches/

07 JUN 2018
JG Summit, Oriente investing P10 billion for expansion of Cashalo mobile app
Read more at https://www.philstar.com/business/2018/06/07/1822160/jg-summit-oriente-investing-p10-billion-expansion-cashalo-mobile-app#VDPa4vcrE13KUP14.99

04 JUN 2018
Gokongwei, Gotianun groups teaming up for Clark airport bid
http://www.thestandard.com.ph/business/corporate/267187/gokongwei-gotianun-groups-teaming-up-for-clark-airport-bid.html

31 MAY 2018
Changes in John Gokongwei’s empire
https://www.philstar.com/business/2018/05/31/1820095/changes-john-gokongweis-empire

27 APR 2018
JG Summit appoints Lance Gokongwei as CEO
http://bworldonline.com/jg-summit-appoints-lance-gokongwei-as-ceo-2/

14 APR 2018
Airline biz keeps JG Summit 2017 earnings flat
http://bworldonline.com/airline-biz-keeps-jg-summit-2017-earnings-flat/

19 MAR 2018
Gokongwei eyes P18 biliion casino in Cebu
Read more at https://www.philstar.com/business/2018/03/19/1798040/gokongwei-eyes-p18-biliion-casino-cebu#eL19vI4I8OZbwCWg.99

06 DEC 2017
7 firms eye 'super consortium' for NAIA modernization
http://news.abs-cbn.com/business/12/05/17/7-firms-eye-super-consortium-for-naia-modernization

28 NOV 2017
Ten years after retirement, Gokongwei says JGS businesses continue to flourish
http://bworldonline.com/ten-years-retirement-gokongwei-says-jgs-businesses-continue-flourish/

15 NOV 2017
Filinvest, JGS tap Changi for Clark proposal
http://bworldonline.com/filinvest-jgs-tap-changi-clark-proposal/

23 OCT 2017
JG Summit to submit transport project proposals
http://www.philstar.com/business/2017/10/23/1751365/jg-summit-submit-transport-project-proposals

06 SEPT 2017
SEC approves JG Summit’s new infrastructure unit
http://bworldonline.com/sec-approves-jg-summits-new-infrastructure-unit/

03 AUG 2017
JG Summit ventures into digital lending
http://www.philstar.com/business/2017/08/03/1724050/jg-summit-ventures-digital-lending

29 JUN 2017
JG Summit bulks up 2017 capex to P48 B
http://www.philstar.com/business/2017/06/29/1714445/jg-summit-bulks-2017-capex-p48-b

28 JUN 2017
JG seeks contractor for petrochem project
http://manilastandard.net/business/power-technology/240507/jg-seeks-contractor-for-petrochem-project.html

23 JUN 2017
JG Summit raises stake in Meralco
http://www.philstar.com/business/2017/06/23/1712626/jg-summit-raises-stake-meralco

21 JUN 2017

Slowly but surely

JG Summit Holdings, the conglomerate founded by tycoon John Gokongwei, may have to wait a bit more to unlock more values out of its investment in PLDT Inc. But the group is ready to boost its exposure in another enterprise led by businessman Manuel V. Pangilinan.

The conglomerate recently raised its interest in utility Manila Electric Co. to 29.56 percent from 27.12 percent. This was after it picked up 27.5 million shares of Meralco at P250 each on June 14, based on a report on change in ownership filed by JG Summit president Lance Gokongwei.

JG Summit’s purchase of additional shares in Meralco happened at around the same time that Metro Pacific Investments Corp. (MPIC) raised its interest in Meralco and power generation firm Global Business Power Corp. by buying out the shares held by the PLDT group for P21.8 billion.

PLDT Communications and Energy Ventures (PCEV)’s divestment of its remaining 25-percent stake in Beacon Electric Asset Holdings (which owns 35 percent of Meralco and 56 percent of Global Business Power) allowed the PLDT group to focus on its core businesses while allowing the First Pacific group to simplify and consolidate its power industry investments in MPIC. —DORIS DUMLAO-ABADILLA