Filipino tycoon honoured at CNA gala

SINGAPORE — Hard work. Responsiveness to change. Frugality. These are some of the values that have helped Filipino billionaire John Gokongwei Jr muscle his way out of poverty and become one of Asia’s most successful self-made business figures.

Last night at Channel NewsAsia’s (CNA) annual Luminary Awards Gala, Mr Gokongwei was honoured with a Lifetime Achievement Award for his success in building one of the region’s vast business empires.

The 87-year-old is the founder of JG Summit Holdings, a conglomerate that began six decades ago with a single cornstarch factory. Today, JG’s reach spans businesses in food, banking, air transport, property, telecommunications and petrochemicals. Mr Gokongwei is also Deputy Chairman at Singapore property developer United Industrial Corporation.

The fifth-richest person in the Philippines with a net worth of US$3.4 billion (S$4.3 billion) as of July 2013, according to Forbes, Mr Gokongwei is also devoted to philanthropic work. He heads the Gokongwei Brothers Foundation, funding educational projects across the Philippines.

Other awards presented at the gala include the Future Business Luminary Award, which went to Ms Sabrina Chao, Chairman of Hong Kong’s Wah Kwong Maritime Transport Holdings.

Singapore property firm Keppel Land took home the Innovation Luminary Award, while the Philippines’ largest developer, Ayala Land, won the Green Luminary Award.

This year’s awards coincide with CNA’s 15th anniversary and conclude a year in which the broadcaster introduced initiatives to increase original content by more than 30 per cent, while moving into the digital space.

“We have worked hard to improve our programming and content over the last year so as to stay abreast and sometimes ahead of the competition,” CNA’s Managing Director Debra Soon said during the gala.

“But it’s also time to seriously think about where we are, why we exist and how we can go beyond our business to do something lasting for communities in Asia.”

Among the changes planned for the coming year are a new format for AM Live!, a new daily analysis show, a stronger focus on business, an enhanced Singapore Tonight programme and a series of special packages focused on women in Asia.