PHILEQUITY CORNER…

established his cornstarch business in Cebu. This eventually became the Universal Robina Corp (URC), a diversified food business which now has a regional presence. Among URC’s top brands are Filipino staples such as Great Taste, Blend 45, Chippy, Nips, Maxx, and Cloud 9. When he first bought new airplanes, Mr. John had a vision of providing affordable air transport. Eighteen years later, Cebu Air, Inc (CEB) has grown into one of the top low-cost carriers in Asia. Typical of his penchant for defying the odds, Mr. John shook the telco sector when he introduced unli call and text bundles through Sun Cellular. By looking at his companies, one can see that Mr. John built businesses that cater to the common Filipino.

Smartest guys in the room

The Gokongweis have the reputation of being extremely intelligent businessmen. I consider myself fortunate because I interact with them on a regular basis. I meet James in our common business organizations and in meetings of Philequity. I see Lance in meetings of the Ateneo Board of Trustees. Both ask sharp questions and share important insights during meetings. They are well-versed in a variety of fields and have shown keen attention to details and numbers. Based on my interactions with them, I believe that the Gokongweis are among the smartest businessmen in the world.

Business as usual

In her tribute, Robina Gokongwei-Pe said her father kept asking for financial statements of his companies even though he was already in the hospital. In his eulogy, Lance said he and his siblings still went to work last week to oversee the operations of their respective companies. They only missed work last Friday to attend their father’s funeral. Lance commented that his dad would have preferred them to continue working even under these circumstances.

Xavier, Ateneo, La Salle

Mr. John placed a huge premium on education. He bequeathed substantial gifts to schools and universities. In his honor, Ateneo de Manila University named one of its buildings the John Gokongwei School of Management, while De La Salle University designated one of its departments as the Gokongwei College of Engineering. Likewise, the Gokongwei Junior High School Building in Xavier School was dedicated to honor Mr. John’s gift. Meanwhile, the Gokongwei Brothers Foundation provides scholarships in engineering and vocational technology. Mr. John’s generosity continues to support the next generation of Filipino entrepreneurs, businessmen, engineers, and scientists.

Thank you, Mr. John

There are many lessons to be learned from Mr. John Gokongwei’s remarkable life. Through hard work, ingenuity, and perseverance, he was able to provide for his family after they lost everything. He was notably generous when it came to education because he fully understood its value, and he wanted other people to have the opportunity that he did not. His love for learning allowed him to defy the odds and thrive in challenging industries, thereby supporting the development of the local manufacturing sector. Mr. John blazed a trail for local businessmen by showing them that a Filipino industrialist can become a regional powerhouse. Thank you, Mr. John for leaving us with valuable companies in the stock market. And thank you for your vast contributions to the country.

Philequity Management is the fund manager of the leading mutual funds in the Philippines. Visit www.philequity.net to learn more about Philequity’s managed funds or to view previous articles. For inquiries or to send feedback, please call (02) 2508700 or email ask@philequity.net.