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Billionaire Lance Gokongwei's Cebu Air In Talks To Buy 150 Planes Worth $18 Billion From Airbus, Boeing

Negotiations are ongoing for what would be the single biggest plane purchase by a Philippine airline, Cebu Air said Monday.

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JG Summit swings to P5 billion profit in Q1

Gokongwei-led JG Summit Holdings Inc. rebounded strongly in the first quarter of the year with a reported income of P5 billion, a turnaround from a net loss of P2.8 billion a year ago.

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JG Summit nets P2.1 billion in Q2

JG Summit Holdings Inc., the investment vehicle of the Gokongwei Group, recorded a second quarter core net income of P2.1 billion, a 48 percent rebound from a net loss of P689 million in the first quarter.

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Philippine Tycoons, Singapore's Changi Form Venture To Run Clark International Airport

Filinvest Development Corp., controlled by billionaire Mercedes Gotianun and her family, has formed a joint venture with JG Summit and Singapore’s Changi Airport Group to manage the Clark International Airport.

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Cebu Pacific Raises $250 Million As Gokongwei's Airline Prepares For Travel Recovery

Cebu Pacific Raises $250 Million As Gokongwei's Airline Prepares For Travel Recovery
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S.African digital bank Tyme to expand into Philippines

SINGAPORE (Reuters): South African digital bank Tyme has raised US$110 million in private capital and linked up with JG Summit, one of the biggest conglomerates in the Philippines, to apply for a local digital bank licence, a top Tyme executive told Reuters.

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JG Summit acquires stake in South Africa-based digital bank Tyme

By TED CORDERO, GMA News
Published February 23, 2021 11:26am
Gokongwei-led conglomerate JG Summit Holdings Inc. has acquired a stake in South Africa-based digital bank Tyme, which is eyeing markets in developing economies particularly in Southeast Asia.
In a disclosure to the Philippine Stock Exchange on Tuesday, JG Summit said it has taken part in an estimated P5.3-billion or $110-million investment in Tyme, along with Apis Growth Fund II, a private equity fund managed by Apis Partners LLP, and South African investment holdings company African Rainbow Capital (ARC).
Tyme, whose international management arm, TymeGlobal, is headquartered in Singapore, is considered as one of the world’s leading digital banking networks for emerging markets and is majority owned by ARC.

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