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Strategic Business Units

Universal Robina

“The best response to the challenges we face with this crisis is to push forward, not to pull back. We are focused on better serving our consumers, our customers, and our communities. Consumption of our products is not likely to dissipate; in fact, the relevance of our categories in consumers’ lives potentially increases as we adjust to changing consumer and shopper trends. As we look to the future and the new normal, we remain well-positioned for the long-term to delight everyone with good food choices.”

Irwin C. Lee
President and Chief Executive Officer

2020 Financial Performance
and Key Developments

Despite the challenges faced in 2020 brought about by the pandemic, Universal Robina Corporation (URC) ended the year with net sales of Php133.1 billion, a slight decline of 1% versus same period last year (SPLY). Operating income (including hogs market valuation) however grew faster at 7% to Php16.0 billion, improving overall margins by 86 basis points year-on-year (YoY). Key performances of our business are as follows:


Php133.1 billion

1% decline vs SPLY
Operating Income

Php16.0 billion

7% growth vs SPLY
Net Income attributable to equity holders of the parent

Php10.7 billion

10% growth vs SPLY
BCF Philippines*

Revenue ended flattish at Php 61.2 billion, as growth of Snacks, Noodles and other filler type categories were able to offset decline of dependent on out-of-home consumption categories such as RTD beverages. Operating income on the other hand is up 6%, benefitting from favorable costs mix and product supply chain transformation.

BCF International

Consolidated sales in peso terms of Php 41.2 billion, down 5% versus SPLY, held back by foreign exchange translation. Looking at a constant currency basis, both top line and bottom line ended flattish vs. SPLY. Growth in Oceania was able to offset sluggish sales of other markets while cost savings initiatives and austerity measures across the countries helped maintain operating income.

Agro-Industrial & Commodities (AIC)

Revenue increased by 7% versus SPLY to end at Php 29.6 billion, mainly driven by the Sugar and Renewables group. Operating income grew stronger, posting double digit growth of 19% to end at Php 5.7 billion. Higher volumes in Sugar and lower input cost for Flour and Animal Nutrition and Health helped propelled profit growth.

Revenue Breakdown
* excludes packaging

COVID-19 Response

As URC faced the Covid-19 crisis, the company identified key immediate priorities to ensure that the company is there for their employees, consumers and the communities where it is present and operate. The company evaluated and updated measures at work to ensure the health and safety of its employees, from conducting mandatory Covid-19 training and heightening hygiene protocols, to providing free shuttles, meals, lodging and comprehensive medical care. Moving past its walls, URC continued its support to the communities both here and abroad through donations of both cash and products.

In the Philippines, the company partnered with GBF to provide immediate support to the frontliners. Parts of the production line were temporarily repurposed to be able to manufacture reusable face shields to help augment the requirement of our essential workers. Over 100,000 units were delivered to 26 hospitals in April and May 2020. URC continued to work with local government units to be able to operate fully and ensure product availability in the market for its consumers. Mitigating actions were done to ramp up production and logistics capabilities. In addition, alternative selling channels were introduced to cater to lockdown situations and address shifts in retail landscape.

Business Outlook

Looking at 2021, URC will continue its thrusts to provide products and brands people love, also ensuring that the company is seen as a preferred partner of choice by both suppliers and customers. The company will carry on with its product supply chain transformation while upholding its people and planet friendly culture.

Robinsons Land Corporation

“Amid the challenges of 2020, we embraced a mindset of innovation and dedication to continue serving our customers. We capitalized on new opportunities for growth and accelerated digital transformation initiatives to cushion the impact of the pandemic.

As we navigate our path to recovery, we will continue to provide relevant real estate solutions, while prioritizing health and safety. Together with our partners, we will work towards strengthening corporate agility and sustainability to deliver value to our stakeholders.”

Frederick D. Go
President and Chief Executive Officer

2020 Financial Performance
and Key Developments

In a year marred by global uncertainties and unprecedented challenges, Robinsons Land Corporation (RLC) demonstrated the resilience of its diversified portfolio as it generated positive cash flows across its business units. The Company capped 2020 with EBITDA of Php13.7 billion and Net Income of Php5.3 billion, which declined by 21% and 39%, respectively versus same period last year. Consolidated revenues registered at Php24.9 billion, down by 18%. The Company’s investment portfolio, composed of the malls, offices, hotels, and industrial facilities, contributed 51% of total revenues, while the 49% balance came from the sale of residential units and land parcels that form part of the development portfolio.

RLC maintained a strong financial position with Total Assets at Php215.2 billion and Shareholders’ Equity at Php102.7 billion. Its liquidity position remained intact following a Php13.2 billion bond offering in July, which obtained the highest credit rating of “PRS Aaa with a stable outlook” and was well-received by the debt capital markets. The Company also distributed Php2.6 billion or Php0.50/share in cash dividends in 2020, delivering on its commitment to return value to shareholders.


Php24.9 billion

18% decline vs SPLY

Php13.7 billion

21% decline vs SPLY
Net Income

Php5.3 billion

39% decline vs SPLY
Revenue Breakdown
23 % Ma ll s 23 % 4% Hote ls 2% In dustrial and Inte gr at ed D ev elopmen ts 48 % Residentia l
Total Assets

Php215.2 billion

Shareholders’ Equity

Php102.7 billion

Distributed Cash Dividends of

Php2.6 billion

or Php0.50/share

COVID-19 Response

RLC and its dedicated employees continued to serve its customers, business partners, and stakeholders in the midst of the COVID-19 crisis. At the height of community quarantines, RLC malls and offices remained open to support establishments offering essential services; while the residential group worked relentlessly to ensure safety and security across all its condominium properties. Likewise, RLC’s hotels served as temporary homes for returning Overseas Filipino Workers (OFWs) and guests under quarantine.

As the Company sustained business operations, employee welfare and protection remained of utmost priority. Amid trying times, RLC provided salary continuance, financial support for frontliners, nutrition supplies, temporary accommodations, as well as free shuttle services. The Company also adopted remote work arrangements and supported a digital workplace to minimize health and safety risks.

The financial and operational challenges of the pandemic likewise forced a pivot in short-term business strategies. RLC faced an altered real estate landscape with a spirit of reinvention, accelerating digital transformation and shifting business models to deliver relevant customer experiences in the new norm. Through innovative real estate solutions, the Company proved its ability to adapt to the context in which it operates.

RLC introduced three innovative solutions for worry-free shopping experiences in its lifestyle centers. Robinsons Malls’ Pickup Station, RDelivery, and RPersonal Shopper offer safe and easy ways for customers to shop at the comfort of their homes, while enabling partner tenants to expand customer reach.

For its residential division, the Company digitized the day-to-day transactions of its residential property sellers, buyers, and condominium unit owners through the Sellers Portal, Buyers Portal and myRLC Homeowners Portal, respectively. Conceptualized and developed before the crisis struck, these platforms prove that RLC’s digital transformation initiatives are future-ready.

With travel and tourism at a standstill, RLC repurposed its hotel accommodation facilities and developed new products to sustain business operations. Just-Got-Home, a long-stay service program, was launched for urban professionals looking for budget-friendly and convenient “home-away-from-home” accommodations near their workplaces. Select hotels were also transformed to Working-On-the-Go Private Offices for the growing work-at-home population. Inclusive of WiFi access, basic utilities, and free cleaning services, the private office packages offer increased work productivity and the conveniences afforded by the remote work arrangement.

The pandemic not only pushed the Company to new territories, it likewise strengthened demand for one of RLC’s future-ready developments – its flexible co-working spaces under the brand. The homegrown concept offers plug-and-play work areas, private offices, dedicated desks, meeting rooms, and event spaces. Equipped with modern and world-class technology and amenities, such as digital flipcharts, interactive laser projectors, smart TV, high-speed internet, game rooms, and other various engaging features, addresses workplace challenges in the new normal with the right blend of safe, well-designed, and easy-on-the-pocket office options. Across its businesses, the Company rolled out several other digital solutions for the safety and convenience of its customers and employees. These include the introduction of a wider range of flexible payment options, online ordering systems, the contactless hotel check-in process, and a virtual mall directory, among others.

Business Outlook

Despite unprecedented headwinds in 2020, RLC remains stable, strong, and well-positioned to rise above uncertainty. As it faces the lingering effects of the health crisis, the Company has mapped out strategies to deal with near-term market uncertainties and to take advantage of investment opportunities that will support its post-pandemic recovery and growth.

Looking ahead, RLC will continue to expand its businesses, to diversify, and invest in scale. It will take steps to grow its land bank through strategic property acquisitions, while actively pursuing synergistic opportunities with both public and private institutions to deliver projects of greater value to its customers.

With the Company’s clear focus on driving synergy, innovation, and agility, RLC is optimistic that it will achieve sustainable profitability and market leadership in the years to come.

Cebu Air, Inc.

“It is no secret that 2020 has been the most unprecedented and challenging year for CEB. Starting with a volcanic explosion in January, to the COVID-19 pandemic which resulted in air travel lockdown from mid-March to early June, this was a year where the aviation industry had to stop and gradually restart to what we now call the new normal. Amidst the various commercial and operational concerns we are facing, we are still pleased to report that CEB’s resilience and strength remain evident and continuously improving. This was made possible through various initiatives and the collaborative efforts of our teams coupled with effective financial and asset management, and support from our parent company, JG Summit.”

Michael B. Szucs
Chief Executive Adviser

2020 Financial Performance and Key Developments

Our operational and financial performance was severely affected. Taking off from 2019 where we flew a total of 144,000 flights and 22.5 million passengers, flights in 2020 dropped 71% to only 41,804. Consequently, passenger count also fell by 78% to just 5 million.

Similarly, we took off with 2019’s phenomenal financial results, which generated revenues of Php84.8 billion, operating income of Php12.6 billion, and net income after tax of Php9.1 billion. With the reduced operations, 2020 revenues dropped 73% to Php22.6 billion, resulting in an operating loss of Php20.8 billion and net loss after tax of Php22.2 billion.




Seat Load Factor

5 million

Passengers Carried

Php22.6 billion

73% lower than SPLY*
Net Loss

Php22.2 billion

* same period last year
Revenue Breakdown
20 % 24 % Carg o 56 % Ancillar y Re venu e Pa ssenger
Capital Raising

Liquidity became a key concern as we ended 2020 with a cash balance of Php4.3 billion, a 76% drop vs Php18.2 billion as of end-2019, while net debt to equity ratio rose to 3.17x vs 1.26x in 2019. With this, we embarked on a capital raising exercise to raise US$500 million in equity via a stock rights offer for $250M in convertible preferred shares and another $250M in privately placed convertible bonds. We are also securing up to $400M via a syndicated loan from various banks and financial institutions. These fundraising initiatives will not only provide for CEB’s liquidity requirements in the short term, but will also further strengthen CEB’s balance sheet, giving us a longer liquidity runway as we navigate through the new normal.

Cash Balance


Net Debt to Equity Ratio


Cargo Business Growth

Our cargo business flourished during this time as it ended with just 6% below its 2019 revenue performance. Recognizing the upward trajectory of online delivery demand, we now have two fully converted ATR freighters, or propeller planes which can reach islands with limited runways across the Philippines. We also started hybrid flights where one leg would carry pure cargo in both the belly and cabin, while the other leg carried passengers. We have also configured one A330 aircraft to become a freighter, allowing cargo in the main cabin, thus increasing our capacity for long haul cargo.

COVID-19 Response

CEB Future Size and Shape

In the past year, we took a hard look at our operations to determine CEB’s Future Size and Shape, our business transformation plan that is essential to ensure we survive and thrive post-pandemic.

Right-Size Network and Fleet Deployment

CEB’s Future Size and Shape program includes the rightsizing of our fleet deployment, network, and organization for flexibility amidst potentially reduced demand in the new normal. The optimization of our existing NEO aircraft has been in effect even pre-COVID as we are cognizant of the cost savings of fuel efficiency.

We also reshaped our fleet plan to defer to later years and opted to preserve unused aircraft in the less humid environment of Alice Springs, Australia. With the reduced operations and network, we also implemented a more volume and experience-based compensation package for our crew in line with our rightsizing initiatives.

We further took full ownership of our line maintenance provider to maximize aircraft availability by optimizing maintenance programs. These include better capacity planning to scale with CEB’s network, synergizing functions using a common engineering platform, and reducing base check events.

Digitalization and

We saw 2020 as a chance to change for the better. We thus accelerated our innovative digital solutions for our passengers as well as employees to enhance both safety and convenience.

To help address the health and safety concerns of our passengers, we launched contactless flight and digital front line procedures, including 100% digital check-in via self-service which uses a digital boarding pass, and improved self-service care channels, including Charlie the chatbot and on-the-spot, online flight disruption management.

We also wanted to make sure our passengers are provided with flexibility by offering them options such as unlimited rebooking and a two-year travel fund, whether affected by flight cancellations or not.

We also improved our online portals for better management of bookings and information updates prior to flights. Our one-stop-shop website, CEBFlightReminders, is dedicated to keeping passengers informed of what traveling is like in the new normal.

For our employees, internal business processes and protocols likewise had to be revamped, using digital solutions to improve efficiency and productivity. For example, the digitalization of end-to-end engineering and maintenance processes included electronic records management and logbook implementation for accurate and paperless transactions. We also automated the accreditation and onboarding of passenger and cargo agents and streamlined catering processes for cashless transactions.

The Work from Home arrangement for applicable employees included our Facial Recognition Software for better timekeeping management. Various other initiatives are ongoing to simplify our operations and optimize our resources.

Safety Comes First

Amidst all these plans and programs, CEB continues to emphasize ‘Safety Comes First’ as our core value.

CEB has been rated 7/7 stars by Airline Ratings for its COVID-19 compliance as we implement a multi-layered approach to safety in accordance with global aviation standards. These measures include contactless procedures, thorough cleaning and disinfection of all aircraft and facilities, antigen testing for CEB front-liners before duty, and mandatory protocols for wearing of masks and face shields for passengers and crew so everyone can travel safely and responsibly. On top of all these, CEB’s jet aircraft are also equipped with hospital-grade HEPA filters with 99.99% efficacy, keeping viruses at bay.

CEB was also the first to implement the Test Before Boarding initiative, starting with General Santos in December. Antigen testing is now available for CEB passengers at a special rate of Php700, to be taken just hours before their flight departure at the NAIA Terminal 3. We have also partnered with three DOH-accredited laboratories to offer the lowest cost for the RT-PCR tests at only Php3,300. These help in making the whole testing process seamless and convenient for all.

We continue to work hand-in-hand with the Philippine government to restore passenger trust and confidence in air travel. We’ve partnered with the Department of Tourism to launch the ‘Juan Love’ campaign which aims to show how travel benefits others’ lives in the travel and tourism industry, and in turn, inspire everyone to show one love for the Philippines.

Business Outlook

2021 will be another extremely challenging year. But we will continue to take all necessary steps to ensure we stay formidable and true to our commitment to provide safe, reliable and affordable services.

Prior to the pandemic, CEB was recognized as one of the fittest in the industry. We are confident that with all of the changes we have made through the pandemic, we will emerge again as one of the very top performers.

With Cebu Pacific, everyJuan will fly again.

JG Summit
Petrochemicals Group

“2020 has presented challenges beyond what we have traditionally considered before. It has completely redefined the term “business interruption”. We had previously thought of business interruptions as events that would prevent access to data and disrupt our business processes, but never did we envision a prolonged situation where physical social interaction would be inhibited. 

The pandemic challenged our ability to freely communicate face-to-face, to exchange ideas and work as a cohesive team. All these had to be redefined for us to continue as a dynamic organization, and we have since recreated ourselves to handle the situation. I should say that the improvements made and lessons learned at this time will continue to be of practical use moving forward.”

Patrick Henry C. Go
President and Chief Executive Officer

2020 Financial Performance
and Key Developments

Pre-pandemic, the first quarter of 2020 was already beset by unfavorable market conditions as the industry reeled from the sharp drop in global prices of crude oil and naphtha, and from the surge in U.S. PE exports into the ASEAN region. By the 2nd quarter, the onset of the COVID-19 pandemic and implementation of strict quarantines worldwide heavily affected both local demand and exports activity.

Costs-wise, a temporary 10% tariff levied on all petroleum products from May to June, which include naphtha and LPG, also affected raw material costs. Improvements however were seen starting in the second half of 2020 as local demand started to recover, with domestic customers cautiously restarting operations, and exports rebounding as more countries reopened from lockdowns. Domestic demand for petrochemicals proved to be resilient amid the pandemic, with flexible packaging, basic film packaging and agricultural packaging requirements fueling volumes.

Cracker utilization went up to 70% in 2020, from 67% in 2019, despite the turnaround maintenance extending to early March 2020, and a short shutdown caused by an isolated fire incident in September. Total PE & PP capacity utilization in 2020 increased to 69% versus 63% in 2019. Overall PE and PP production totaled 389 kilotons (kT) in 2020, increasing by 12% from last year’s 349 kT. Total olefins sales for 2020 were at 156 kT, decreasing by 47% from 2019’s 297 kT. Total PE and PP sales for 2020 were at 397 kT versus 352 kT in 2019, posting a 14% increase, and ending the year with combined 50% domestic market share from 39% in 2019. While revenue in 2020 at Php21.3 billion was 27% lower versus last year, the strong polymers performance and improved margins by the second half of the year led to an EBITDA of Php451 million for 2020, a tempered 16% decline vs 2019.


Php 21.3

27% lower vs SPLY

Php 451

16% decline vs SPLY
Sales Volume Breakdown
Po lyet hyle ne 45 % Po lypr opylene 27 % Ot hers 28%
Others include Ethylene, Propylene, Mixed C4 and Pygas
Cracker Capacity Utilization


300 basis points higher than SPLY
Polymer Capacity Utilization


600 basis points higher than SPLY
Polymer Volume Sales

397 kT

14% growth than SPLY

COVID-19 Response

Following the planned complex-wide turnaround maintenance and project tie-ins which began in October 2019, JGSPG in early March 2020 has just restarted its naphtha cracking unit when the nationwide ECQ was imposed on March 17, 2020. Despite the lockdown, JGSPG, being an integral part of the overall supply chain for essential industries, has been able to continue its manufacturing operations, to receive raw material cargoes and to perform its delivery commitments for both export and local customers. Integrated operations with the downstream polymer plants have also commenced upon cracker start-up and the complex has been running at full capacity since June 2020. Most local customers, who were either on shutdown or operating on reduced basis during the earlier part of the lockdowns, have since resumed operations and JGSPG has been able to regain polymer sales volumes to pre-pandemic levels.

As for ongoing expansion projects, construction work which ceased during ECQ recommenced upon implementation of the less stringent GCQ in May 2020. Due to the cessation of site construction activities during the ECQ, completion and commissioning dates for the projects have been moved to mid-2021 for the extraction units and expanded PP plant, and latter part of 2021 for the new PE plant. Target availability of the facilities to be used for the LPG trading business is also by mid-2021.

COVID-19 Response

While the ongoing health pandemic has significantly affected 2020 performance in the first half, the resurgence of demand in the latter half helped to improve overall financials for 2020. As the new extraction units and the LPG trading business start-up in 2021, overall margins are expected to improve as JGSPG eases into new value-adding markets.

By 2022, all expanded and new units including the bimodal PE plant are expected to be fully commissioned, and the group is currently focusing on ensuring organizational readiness for the expanded operations and upcoming new products and businesses.

Business Outlook

Challenging market conditions for olefins and aromatics are likely to persist in 2021 due to long supply. However, market recovery in polymer demand, which began in the second half of 2020, is expected to continue on in 2021 for both domestic and export markets. Demand of the local market is expected to strengthen further as movement restrictions due to COVID-19 ease, and as several key business sectors have since resumed partial or full operations. Export sales are expected to pick up in 2021 with more allocation of products, with the expanded operations, completion of commissioning of the new extraction units, and the ramp up of the cracker. Furthermore, JGSPG’s entry into the wholesale LPG sector through Peak Fuel Corporation is widely anticipated by the domestic market.

For 2021, four areas that will be of key focus are (1) Projects Completion and Start-up Execution, with emphasis on safe and efficient turnover to operations, (2) Improving Operational Excellence and Organizational Readiness, (3) Innovation and Market Development with its expanded product portfolios, and (4) Planning for Future Growth, through progressing studies for next phase expansion, alternative power supply options and other potential future investments. With the completion of its expansion projects and upcoming new businesses, JGSPG is now preparing to shift into higher gear as it moves forward into 2022.

Robinsons Bank

“2020 demonstrated the resilience of Robinsons Bank. At the onset of the pandemic, the Bank responded notably well by providing undisrupted delivery of all banking services, while safeguarding the welfare of all RBankers and our customers. We salute all the “RBankHeroes” for their “malasakit” in ensuring that the Bank delivers the best customer experience despite the challenges. The Bank takes pride in its commitment and dedication to serve our community, more so in a time of crisis. 

Understanding the new normal, RBank accelerated the digital initiatives defined in our new five-year strategic plan. The Bank was quick to pivot and adapt to the current condition that by end-2020, Robinsons Bank delivered a sound financial performance.”

Elfren Antonio S. Sarte
President and Chief Executive Officer

2020 Financial Performance
and Key Developments

Robinsons Bank (RBank) continued to deliver a solid financial performance in 2020 notwithstanding the impact of COVID-19 pandemic. During this unprecedented and challenging time, the Bank posted a record net income of Php935 million in 2020, 30% higher than 2019.

The net income takes into account Php1.1 billion provisions for losses in preparation for the possible impact of the pandemic on loan quality. This amount is almost nine times more than the provisions set aside in the prior year. RBank’s non-performing loan ratio was at 2.98%, better than the industry’s 3.47%. The NPL coverage ratio is at 90.9%.

In 2020, total revenues reached Php9.2 billion which grew by 13% year-on-year (YoY). This was mainly driven by the net interest margin expansion arising from the shift to higher-yielding consumer loans, and reduced funding cost due to robust CASA (Current Account Savings Account) growth. Moreover, noninterest income increased YoY on the back of hefty trading gains.

RBank achieved another milestone as its ranking, in terms of total loans, improved by another notch to 15th among Philippine universal and commercial banks based on BSP’s recent industry ranking report. Since the launch of the Bank’s initial five-year strategic plan in 2015, RBank’s ranking has jumped by 8 notches.

Total Loans


8.2% growth YoY, driven by
consumer loan
Total Assets


up 15.4% YoY, outperforming the
industry’s growth of 6.1%
Total Deposits


20.3% higher YoY, supported
by the robust growth in CASA
deposits which increased 26.1%
Loan Portfolio Breakdown
40 % Consume r 60 % Commercial
Capital Adequacy Ratio


CET1 Ratio


COVID-19 Response

The pandemic disrupted many businesses. RBank considered it a stimulant. The Bank fast-tracked its digital initiatives that were laid down for the next five years and introduced solutions and services to enable clients to do banking within the new normal.

During the pandemic and heightened lockdowns, multiple products were released by the Bank.

Mid-April, Robinsons Bank launched RBank Sign Up, a mobile app that allows a fully digital and branchless account opening for retail banking customers. The app allows a prospective retail client to open various types of deposit accounts in a matter of minute via their phones. RBank Sign Up works for Android and iPhone phones, and is available in the Google Play Store and Apple Store.

In May, RBank introduced QuickR, a payment form-factor for retail clients. QuickR allows real-time peer-to-peer transfers and payments to merchants. By October, RBank transitioned to QR PH, which made our QR interoperable with other banks in the country.

Sprout, a cloud based HRIS platform that automates and simplifies payroll processing from timekeeping to payroll crediting was commercialized in early July.

Our superior Payroll Payout service was further enhanced with the launch of RBank Sign Up Payroll in July. Targeted for employees of companies which have payroll arrangements with us, the digital account opening capability made it easy for employees to open accounts with the Bank and facilitated immediate pay out of newly-hired employees via bank crediting.

In late September, RRewards Savings was launched. Saving can be rewarding for this unique savings account product which earns points that can be redeemed for conversion to GoRewards points. A collaboration of RBank with its affiliate Robinsons Retail, GoRewards is a Loyalty Program for Robinsons Retail shoppers.

RBank Digital (RDX) is the Bank’s retail online banking platform that is available via web browsers or via mobile app. The facility allows a customer to manage their accounts anytime anywhere, skipping branch queues.

Simple, convenient, and secure way to bank while on the go with these services available on your fingertips: • Check balances and account details • Transfer money and pay bills • Remit money via Cebuana Lhuillier branches • Online viewing of deposit and credit card statements • Generate your own QR • Pay via QR

The RBank Corporate Credit Cards allows an employee to charge their authorized international and domestic business expenses—such as hotel stays and plane tickets—without having to use their own card or cash. Issued to a Corporate, these company-guaranteed credit card can make it easier for employers to manage and have full control over expenses their employees are charging for travel and entertainment.

In early October, the Electronic Invoice Presentment and Payment (EIPP) facility was launched to facilitate B2B payment flows. The electronic platform connects Buyers and Suppliers via a digital exchange of invoices, resulting to an enhanced and accelerated payment flow, eventually improving a Supplier’s Days Sales Outstanding.

A week after the release of EIPP, the Bank introduced an ATM plus ID card that can be customized for any company’s design in mind.
In early November, the Bank rolled out Corporate Auto Debit Arrangement (ADA). Meant to facilitate smooth collections of recurring payments, this facility allows B2B, C2B, B2G, C2G payment transfer to a corporate seller/institution/ agency via an automatic debit arrangement from their enrolled payor’s account.

At the onset of the ECQ in March 2020, Robinsons Bank ensured business continuity as 60-65% of RBank’s branches remained operational. This increased to 90% upon the easing to MECQ in May and to 100% under the GCQ beginning June. RBank’s ATMs remained operational at 85-90% capacity to support the customers’ continued access to funds. With limitations brought about by the lockdowns, the Bank shifted to digital channels in terms of customer onboarding, transaction services, selling, and other banking activities.

RBank ended 2020 with 154 branches, 335 ATMs, and 3 cash deposit machines strategically located nationwide. Despite the pandemic, the Bank was able to open 3 new branches and installed 28 ATMs.

Serving the best value to our customers’ needs during the pandemic, RBank was tapped by the Department of Social Welfare and Development as a digital payment partner to facilitate the pay-out of the government’s Social Amelioration Program (SAP). This provided a major vote of confidence to the Bank’s digital product and services.

L-to-R: RBank Product Management Group Head Agnes Salvador,
DSWD Secretary Rolando Bautista, and RBank President and CEO
Elfren Antonio Sarte
To cater to the unbanked beneficiaries from NCR and Batangas, RBank rolled out a new digital solution called “e-Ayuda” which enabled thousands of beneficiaries to receive their SAP payouts through a cardless withdrawal process using an RBank ATM.

Business Outlook

Driven to create value, we navigate 2021 with great optimism. Guided by our new five-year initiative, Roadmap 2024, we are geared towards creating significant presence in the industry. We will take advantage of the Bank’s substantial competitive advantage and be compelled to get ahead of the curve in this great reset. The Bank will continue to innovate and leverage on its own capabilities. This will shape Robinsons Bank moving ahead.

Ecosystem Plays

Luzon International Premier Airport Development Corporation

“We started 2020 on an upward momentum, with a good passenger growth in January at 18% for domestic, and 16% for international vs. 2019. When COVID-19 hit and the government started imposing travel restrictions, LIPAD immediately shifted focus, implementing measures to reduce expenses by more than 70% overall. 

With fewer passengers because of community quarantine, LIPAD saw a 17% increase in cargo flights. Clark International Airport also played a significant role in helping the government bring home Filipinos abroad, through its repatriation efforts.”

Bi Yong Chungunco
Chief Executive Officer

Luzon International Premier Airport Development (LIPAD) Corporation is a special purpose company established to manage the operations and maintenance of Clark International Airport.

The members of LIPAD are Filinvest Development Corporation, JG Summit Holdings Inc., Philippine Airport Ground Support Solutions Inc. and Changi Airports Philippines (I) Pte. Ltd., a wholly owned subsidiary of Changi Airports International. The consortium members each have vast experience in airport operations, air transportation and property development.

When LIPAD took over Clark International Airport in 2019, we were able to expand the network to cover 19 domestic and 12 international destinations serving 700 flights weekly from a total of 20 airlines. In 2021, we aim to continue working towards expanding this network further to pre-COVID levels, connecting Clark to more domestic and international points and cementing its position as the premier gateway for Central and Northern Luzon.

We also signed a Memorandum of Agreement with 17 airlines for the integration of the Passenger Service Charge (or what we commonly call Terminal Fees) in their airfares as part of our goal to provide passengers with a seamless travel experience.

In 2020, Clark International Airport was awarded the Airport Health Accreditation Certificate by the Airports Council International – the first airport in the Philippines that earned this certificate.

We are also excited for the role that LIPAD will play in the development of Clark International Airport as the region’s premier hub seen in the continuous progress of the outfitting of the New Passenger Terminal Building. Through the JG Summit Ecosystem LIPAD is able to capitalize on the group’s strong procurement system and construction management expertise for New Terminal Building requirements.

In the near term, we will be
focusing on:

  • Reviving pre-COVID traffic growth, which was clearly affected by the pandemic;
  • Working with local governments to jumpstart domestic tourism; • Completing the new terminal building with new commercial offerings;
  • Repurposing the existing terminal into a mass vaccination centre; and
  • Fulfilling our vision of developing the key aviation business in Clark and the development of Clark Airport City.

JG Digital Equity
Ventures, Inc.

“The only way you can prove that you’re really transforming digitally is if you have an economic impact on the landscapes in which you play. We harness our capability to achieve our objectives to have an impact on every Filipino’s life.”
Elmer “Jojo” Malolos
Data Analytics Ventures, Inc., and
JG Digital Equity Venture’s CEO

JG Digital Equity Ventures, Inc. (JGDEV), JG Summit’s venture capital arm, is investing its US$50 million fund in sustainable and scalable fintech start-ups in that would have impact in the Southeast Asian market and create value to the JG ecosystem.

In these unprecedented times, the mission of JGDEV is clearer than ever: to leverage the rich and diverse JG ecosystem to accelerate the success of startups, resulting not only in capital gains upon exit for its investments, but also bringing in strategic value, positive revenue generation or cost savings for other business units in the conglomerate.

Earlier in the year, JGDEV has beefed up its team to strengthen its investment portfolio management as well as strategy and collaborations as it works closely with the business units on the value creation of the new technologies. JGDEV was instrumental in identifying and introducing digital technologies to the group.

Aligned with its mandate, the company’s lean organization was quick to adapt and utilize technology ensuring zero disruptions in the workflow despite the COVID-19 lockdown and challenges. In total, JGDEV was able to assess well over 100 startups in 2020 and made a total of four investments and one fund investment.

Despite the ongoing crisis, JGDEV believes that it is on track to realize its vision to become one of the top-of-mind leading corporate venture capital firms in the region. It remains highly committed to provide tech startups with capital infusion and value-added opportunities to accelerate their success.

Data Analytics
Ventures, Inc.

Taking data analytics
to the next level

Data Analytics Ventures, Inc. (DAVI) continues to lead the way in making data work for both consumers and businesses.

A professionally managed combination of data science and data-driven programs enriched an already deep understanding of the customer, giving them a better experience that, in turn, increased their engagement and spend with partner merchants. Working with Robinsons Retail Holdings, Inc., Cebu Air, Inc., Robinsons Land Corporation, Robinsons Bank Corporation, Universal Robina Corporation and Summit Media Group, DAVI has leveraged the abundant and ever-growing data in the conglomerate to grow businesses in new ways.

In 2020, despite the volatile and uncertain times, DAVI navigated through shifting marketing trends and identified new consumer behavior. Through its rewards enhancements and data products and solutions, DAVI continued to grow engagement and relevance through precision marketing, offering the right product to the right customer through targeted campaigns.

Understanding the new normal and anticipating the need for the consumer to engage with online media, DAVI focused on E-commerce engagement making significant improvement to its Robinsons Rewards loyalty program, ending the year with multiple online merchants that shoppers could engage with through their mobile phones, in the safety of their homes.

Through the combination of a well-utilized data analytics platform and a more engaging loyalty program, DAVI allowed its partners to successfully navigate through the cloud of complexity and ambiguity during the pandemic, increasing member engagement and sales contribution.

To end a strong year, DAVI also offered a free Robinsons Rewards card program to customers who met a minimum spend in strategically chosen business units and location. This brought in a significant number of new members into the loyalty program.

DAVI used its team of experts to mine its data and study the market for effective ways to create engagement between members and businesses. A major milestone was launching an innovation with Facebook to launch a first in the world online to offline solution - Collaborative Ads for Store Sales (CASS) in 2020. These initiatives will allow DAVI to continue to understand complex customer journeys and build the right campaigns for the most effective engagement across various channels.

All these initiatives also build into a robust data hub called Nexus360. To further increase this momentum, DAVI is continuously enhancing its data and tech stack providing easier access to actionable data, insights, and campaigns.

DAVI ended the year
successfully addressing many
opportunities and is poised to
make 2021 a banner year.

“DAVI has flourished during these uncertain times by leaning heavily on our most valuable asset – data. With our knowledge of customer insights, tied to an active loyalty program and further strengthened by data solutions, DAVI is poised to continue to grow in its journey to become the most valuable data analytics company in the country through our mission of enriching and adding value to our customer’s lifestyles.”
Elmer “Jojo” Malolos
Data Analytics Ventures, Inc., and JG Digital Equity Venture’s CEO

DHL Summit
Solutions Inc.

“Our technology, like the BluJay TMS, coupled with other complementing system integrations such as finance, GPS, reporting and end-to-end visibility enables a holistically-connected transport network that is missing from other local transport players. We partner with businesses to bridge their supply chain gaps through digital transformation.”

Ma. Abigail
“Abie” Parazo
Country Managing
Director, DSSI

DHL Summit Solutions Inc. (DSSI) is a joint venture company between JG Summit and DHL Supply Chain, with the goal of becoming a game changer in the Philippine logistics market. The joint venture partnership promises to provide best-in-class distribution services with an initial focus on delivering world-class domestic transport operations. Currently, DSSI is serving the Luzon transport requirements of its first customer, Universal Robina Corporation (URC) and will soon support the rest of the JG Summit ecosystem and external customers to capitalize on the market growth opportunities in the Philippines.

DSSI was raring to start its operations as planned in July 2020, despite the onset of COVID-19. The team created several countermeasures to prevent the spread of the virus and keep its employees safe and COVID-19 free. On 15 July 2020, DSSI’s operations officially went live. The transport team succeeded in transferring finished goods initially from five plants of URC to its different warehouses. Six months in, DSSI continues to deliver great results – exceeding the agreed baseline, and having a faster sales conversion. DSSI also continues to deliver the finished goods of its customer covering more than 92% of URC’s Luzon transport operations.


DSSI’s first year would not have been as successful without its automated systems, its skilled people consisting of 46 working in the Control Tower and 14 in management and support, and compliance to standard safety requirements. With its state-of-the-art Transport Management System (TMS), it ensured optimized load and route planning to provide quality service to its customers. In order to fully utilize the features of the system, several hours went into training its people to reach the level that they are today. This is demonstrated by a 13% improvement in the baseline for pickup timeliness and 5% increased vehicle utilization for stock transfers.

With regards to compliance, drivers of the 72 trucks serving URC also went through safety training and evaluations, proving effective with our record of more than 500,000km driven without accident and 0.02% damages in transit against a 0.25% KPI as of December 2020. 

By the end of 2020, DSSI was able to deliver almost 60,000 shipments, transfer 26 million cases to different URC warehouses, and transport 22 million cases to more than 1,100 delivery points.

Off to a great start with its first customer, there is no stopping DSSI’s growth as it is in the middle of getting ready for its next customer, Robinsons Retail Holdings, Inc. (RRHI), a sister company of JGS. It aims to begin operations with some of Robinsons Supermarket warehouses by mid-2021. Preparations are also ongoing for other RRHI business units such as The Generics Pharmacy (TGP), MiniStop, and South Star Drug (SSD) which are targeted to go live within 2021 and 2022.

In the long-term, DSSI’s customer base will extend to those within and even outside the JGS ecosystem. Indeed, DSSI is progressively making its mark in providing worldclass transport operations in the Philippine logistics market.

Core Investments


The largest private sector electric distribution utility company in the Philippines and has been serving Filipinos for over 117 years. Today, the company provides electricity to 7 million customers in 36 cities and 75 municipalities in a 9,685 square km franchise area that includes Metro Manila, Rizal, Cavite, Bulacan, and portions of Pampanga, Laguna and Quezon.


JGS’ equity stake

₱16.3 billion

Net income attribute to parent
a 31% decline vs last year

₱5.0 billion

Dividends paid to JGS
Business Power

The leading independent power producer in the Visayas region, with a presence in Mindanao and Mindoro Island and a total gross capacity of 1,091 MW. It has 13 power generation facilities located in Iloilo, Aklan, Cebu, Oriental Mindoro, and Sarangani.


JGS’ equity stake

₱2.2 billion

Net income attribute to parent
a 19% decline vs last year

₱750 million

Dividends paid to JGS
Land Group
Limited (SLG)

A Singapore-based real estate company and is one of the leading diversified developers of commercial and retail properties. It has a portfolio of 2.5 million square feet of office space and 1 million square feet of retail premises, which includes some of Singapore’s well-known landmarks such as Singapore Land Tower, The Gateway and Marina Square. It also has overseas investments in Shanghai, Beijing and Tianjin, China, and London, UK.


JGS’ equity stake

S$90 million

Net income attribute to parent

₱769 million

Dividends paid to JGS
PLDT, Inc.

The leading telecommunications and digital services provider in the Philippines offering a wide range of telecommunications services across the country’s most extensive fiber optic backbone, and fixed lines, and cellular networks. As of December 2020, the company has over 72.9 million mobile, 3.0 million fixed line, and 3.1 million broadband subscribers nationwide.


JGS’ equity stake

₱1.9 billion

Dividends paid to JGS