Fortune list includes Gokongwei group pair

Fortune list includes Gokongwei group pair | Daily Tribune

Two companies of the Gokongwei Group have landed in the inaugural Fortune Southeast Asia 500 ranking for 2024, a first-time list of the largest companies in the region ranked by revenue for the 2023 fiscal year.

Fortune Southeast Asia 500 listed JG Summit Holdings, Inc. (JG Summit) as 55th among the 500 largest companies in Southeast Asia with reported revenues of $5,932.2 million.

Meanwhile, Robinsons Retail Holdings Inc. (RRHI) placed 105th with reported revenues of $3,456 million.

The two companies of the Gokongwei Group were among the elite 38 Philippine companies that made the list from seven Southeast Asian nations.

Fortune’s focus on the region comes as Southeast Asia gains greater significance in the global economy due to shifting supply chains and the rapid development of the region’s economies.

7 SEA countries

Fortune’s Southeast Asia (SEA) 500 includes top companies from the seven Southeast Asian countries: Indonesia, Thailand, Malaysia, Singapore, Vietnam, Philippines and Cambodia.

The new list highlights the growing importance of Southeast Asia in the global economy.

“We are capitalizing on our vast ecosystem, focusing on efficiencies and sustainability in our operations to accelerate our progress in this ever-changing business landscape,” Lance Y. Gokongwei, president and CEO of JG Summit and head of the Gokongwei Group shares.

“We continue to reshape our future by providing our customers with better choices and creating shared success with our stakeholders,” he added.

JG Summit’s and RRHI’s diverse portfolios span across multiple sectors. JG Summit operates in various industries including food and beverage through Universal Robina Corporation, real estate through Robinsons Land Corporation, air transportation through Cebu Pacific Air, and petrochemicals through JG Summit Olefins Corporation.

Meanwhile, RRHI is one of the Philippines’ largest multiformat retailers with a robust network of close to 2,400 stores including supermarkets, convenience stores, department stores, DIY stores, and specialty stores and over 2,100 franchised community drugstores under TGP.

The inclusion of the two Gokongwei Group conglomerates in Fortune Southeast Asia 500 is a demonstration of the group’s role in driving economic growth and development in the Philippines and the broader Southeast Asian region.