Description
JG Summit Holdings, Inc. (JGSHI) is one of the largest conglomerates in the Philippines with business interests in air transportation, banking, food manufacturing, hotels, petrochemicals, power generation, publishing, real estate and property development, and telecommunications. Key subsidiaries include Universal Robina and Cebu Pacific.
Incorporated in November 1990, JG Summit Holdings was founded by John Gokongwei Jr., one of the wealthiest individuals in Southeast Asia. In 2010, JGSHI was one of the ten most profitable companies on the Philippine Stock Exchange.
Former businesses
- Digital Telecommunications Philippines (Digitel and Sun Cellular) - Acquired by PLDT in March 2011. As part of the deal, JG Summit will have a 12% share in PLDT. It was finalized by the National Telecommunications Commission on October 26, 2011.
- Far East Bank and Trust Company - Sold the shares to BPI during the time PCIBank was acquired by Equitable, the GSIS and the SSS.
- Philippine Commercial International Bank (PCI Bank) - A joint venture between Benpres, and the Lopez Group of Companies. Both sold their shares in 1999 to the SSS and GSIS which gave way to the Equitable Banking Corporation - Philippine Commercial International Bank merger and eventually became Banco de Oro Universal Bank.
- Griffin's Foods (New Zealand) - sold to Intersnack, a subsidiary of German company Pfeifer & Langen.
- Snack Brands Australia (Australia) - sold to Intersnack, a subsidiary of German company Pfeifer & Langen.
