A legacy of nation-building

JG Summit at 35

MANILA, Philippines — At the Ninoy Aquino International Airport’s Terminal 3 last Monday, election day, check-in counters of Gokongwei-led Cebu Pacific were busier than usual amid the snaking lines of passengers.

It is a testament to the low-cost carrier’s continued dominance – with a commanding 54.1 percent share of the domestic market in 2024 – and to JG Summit Holdings’ success in providing consumers with wider choices at fair prices.

Cebu Pacific, which revolutionized air travel, is just one example of how the late retail tycoon John Gokongwei Jr. boldly challenged the status quo by building businesses that competed with market leaders.

He wanted to give consumers more options: snack foods that provided alternatives to imported brands; telecommunications that pioneered cheaper calls and text; air transportation that made flying affordable to more Filipinos, and many more.

This year, 35 years since it was incorporated and more than 70 years since Gokongwei put up a corn milling plant to produce glucose and cornstarch, JG Summit is a sprawling business empire comprising snacks maker Universal Robina Corp. (URC), property developer Robinsons Land Corp. (RLC), Cebu Pacific operator Cebu Air, digital bank GoTyme Bank Corp. and many other businesses.

In the run-up to the company’s 35th anniversary on Nov. 23, 2025, JG Summit president and CEO Lance Gokongwei, the only son of the late tycoon, looks back with pride at the conglomerate’s journey and casts a forward-looking vision focused on innovation and inclusive growth.

“This year marks our anniversary. So, in a sense, it makes us one of the younger conglomerates in the Philippines. But the whole history started in 1954 with URC, so that would make us 71 years also,” Lance told The STAR.

Lance took over as president and group CEO of JG Summit in 2018 and chairman of other subsidiaries and operating companies after his uncle, James Go, retired as CEO of the listed conglomerate but remained as chairman.

Asked where he wants to take the empire his father built in the next 35 years or so, Lance said JG Summit would continue to respond to the evolving needs of Filipino consumers.

“We’re going to follow the consumer, whatever unmet needs the consumer has. We’re going to re-emphasize our focus on the consumer business, which we’re known for,” he said.

New businesses

This strategy is already evident in the group’s foray into digital banking, health care and logistics – all essential services that Filipinos increasingly depend on.

“We’re trying to provide innovation, trying to meet unserved needs through the creation of GoTyme, which is a leading digital bank in the Philippines,” Lance said. “And we hope to do so again through health care with the Maxicare Group together with the partnership with the Equicom Group,” he said.

Over the next three to five years, Lance said, the goal is also to try to provide health care solutions directly to end-users and consumers.

Logistics is another emerging pillar for JG Summit. “One industry that we’re going to put more resources behind is also on the logistics side,” Lance added.

“We now have a joint venture with DHL on transportation management, basically trucking and now we’re expanding this to freight and other supply chain solutions.”

He said this move builds on DHL’s global network, technology and expertise, while JG Summit brings ecosystem demand – from URC and Robinsons Retail – and the physical infrastructure.

“We have a lot of property where we can build warehouses and the like,” Lance said.

The conglomerate is also quietly making meaningful strides in renewable energy through Merbau Corp., which is focused on rooftop renewables.

“We now have a nascent company called Merbau which is focused on rooftop renewables,” Lance said. “I think we’re one of the largest rooftop providers in the Philippines – primarily for Robinsons Land and URC. Almost all our rooftops have solar and supply ourselves. We’re reaching a stage now where we’re beginning to provide this solution to third-party companies as well.”

As for the legacy businesses such as Cebu Pacific, investments continue. The carrier has made a historic purchase of as many as 152 aircraft for $24 billion, as the airline aims to fly more passengers to more destinations.

JG Summit made its debut on the Philippine Stock Exchange in 1993 to raise long term funds for bigger projects that would support the economy then, said James Go during the company’s 25th listing anniversary in 2018.

The stock has surged more than fourfold since its listing, rising from P4.40 to P17.94 while its market capitalization soared from P18.54 billion to P130.86 billion, underscoring investor confidence and long-term value creation.

Legacy

Indeed, from its early days to the present, JG Summit has remained steadfast in its mission to empower Filipino consumers by offering better choices – a commitment that has significantly contributed to nation-building.

It is a legacy that the late John Gokongwei Jr. built with vision and purpose, and one that his son Lance continues to uphold with success.

“It’s about creating shared success for all our stakeholders. We take a broad stakeholder approach – not just our shareholders, but also our employees, customers, the communities we serve and, of course, the Philippines,” Lance said.