Chairman’s Message
Thirty-five years ago, JG Summit Holdings (JGS) was established upon a defining conviction — that the Philippines would continue to grow. This belief implied that we needed a vehicle to participate in emerging opportunities and drive national development, anchored on the view that industrialization and brand building are the key enablers to bring this vision to fruition.
The formation of a holdings company was our way to unite all the businesses of the Group, which had been founded several decades prior. These included our core verticals in branded consumer foods and agro-industrial/commodities — most notably Universal Robina Corporation (URC), which celebrated its 70th anniversary in 2024, and Robinsons Land Corporation (RLC), which will mark its 50th anniversary in 2030. URC itself is the result of the combination of Universal Corn Products and Consolidated Food Corporation.
Against this backdrop, JGS completed its Initial Public Offering and was listed as a public company for the first time in 1993. At that milestone in our company’s history, our Founding Chairman, Mr. John Gokongwei, together with myself as President and my late brothers Henry and Johnson, set out to access the international bond and equity capital markets to raise long-term funds for ambitious projects that would support the broader economy — in telecommunications, air transportation, cement, and petrochemicals, among others. This was built on the foundation of our success in branded consumer foods (URC) and real estate (RLC), which served as the anchor businesses of the JG Group.
The listing also enabled us to issue a 10-year US$300 million convertible bond — one of the largest and lowest-cost issuances out of Southeast Asia at the time. The proceeds from both the IPO and the bond funded our growth agenda. Being a publicly listed company further allowed us to strengthen our corporate governance practices, align the interests of the family with those of external shareholders, and establish a formal framework for stewardship and leadership succession.
Today, JGS has grown into a regional company with world-class businesses spanning food, real estate, air transport, financial services, power generation and distribution, and telecommunications. URC is now one of the largest regional players in FMCG across Southeast Asia, with clear market leadership in snack foods and ready-to-drink beverages in the Philippines, and in biscuits in both Thailand and Malaysia. Robinsons Land is one of the largest operators of malls, offices serving as anchors for business process outsourcing (BPO) companies, hotels, and warehouses in the country. Cebu Pacific is the largest domestic carrier and flies to over 26 international destinations across 16 countries.
While we continue to fortify our leadership in our core business units, we have also started new incubation bets. One example of which is GoTyme, where we identified a significant gap in financial inclusion and moved decisively to address it — combining our extensive physical footprint with best-in-class digital capabilities through our partnership with Tyme Bank.
Each of these investments reflects a consistent strategic logic: identify large, underserved markets; bring differentiated, better-value propositions; and scale with discipline. This approach has allowed JGS to build a diversified portfolio of consumer-facing businesses with strong competitive positions across multiple high-growth sectors.
Nation-Building through Education
The Gokongwei Brothers Foundation (GBF) was established in 1992 with a belief that education is key to our country’s progress, and that businesses such as JG Summit must contribute to nation-building. Today, GBF continues to carry out its mission and has benefited and uplifted the lives of our scholars, supported schools through endowments, as well as our recent push into building STEM as a core competency for teachers.
A Fresh Focus
As we enter our next phase, we are applying that same strategic rigor to how we manage and grow the JGS portfolio. We are transitioning from an owner-operator model to that of an active, value-oriented investor. We will be equally disciplined about capital recycling — redirecting resources from mature or non-core positions toward opportunities where JGS can generate the greatest impact and return.
Closing Remarks
The strategic foundation we have built over 70 years — our consumer reach, our sectoral expertise, our capacity to scale, and our deep understanding of the Filipino market — positions JGS exceptionally well for the decade ahead. The macroeconomic trajectory of the Philippines, combined with the broader growth dynamics of Southeast Asia, presents a compelling set of opportunities that we are well-equipped to pursue.
To our shareholders, partners, employees, and the communities we serve: your continued confidence in JGS is both a responsibility we take seriously and a source of enduring conviction as we move forward. We are building with purpose, investing with discipline, and advancing with the long term in mind.
The next chapter of JG Summit Holdings will be defined not only by the growth we achieve, but by the strategic clarity and resolve with which we pursue it — always anchored on our mission to participate in nation-building and create sustainable value for all our stakeholders.
Maraming Salamat
James L. Go
Chairman
