MANILA, Philippines – It’s unfortunate that business and entrepreneurship awards don’t get as much attention as beauty contest winners in the Philippines.
Builders, including leaders of conglomerates that employ thousands of people, play a key role in driving the country’s socio-economic growth and progress.
Two Filipino corporate leaders were recognized by two regional award-giving bodies this week, a testament to how they have influenced not just the Philippines but the Asian region as well.
Lance Gokongwei, president and CEO of Philippine conglomerate JG Summit Holdings, received the honorary Ernst & Young (EY)-Bank of Singapore ASEAN Entrepreneurial Excellence Award on November 18, Monday, in Singapore.
The 58-year-old son of the late Filipino industrialist John Gokongwei, who has Bachelor degrees in Finance and Applied Science from University of Pennsylvania, was cited for his contributions to the Southeast Asian business and economic landscape.
“As a second-generation entrepreneur, Lance started with the company as a junior salesperson and worked his way up to eventually steer his father’s company into a flourishing new phase of growth and success. JG Summit Holdings now has a dynamic portfolio in the Philippines and Southeast Asia, spanning sectors including food and retail, aviation, real estate, energy, financial services and telecommunications.
His impact can be seen in his contributions to national progress by advancing quality education for the future workforce while transforming the lives of fellow countrymen,” said Liew Nam Soon, EY Asean Regional Managing Partner and Singapore and Brunei Managing Partner, Ernst & Young Solutions LLP.
JG Summit, in a press release, said Gokongwei was recognized for his role in advancing the ASEAN Economic Community (AEC), an overarching goal of the regional organization seeking to integrate all 10 economies of its member-states.
The regional operations of JG Summit’s subsidiaries — Universal Robina Corporation (URC) and Cebu Pacific (CEB) — were keys to Gokongwei getting the recognition.
“JG Summit has successfully broadened its presence throughout ASEAN. URC has established operations in major markets including Hong Kong, Indonesia, Malaysia, Singapore, Thailand, Myanmar, and Vietnam, providing products that cater to the diverse needs of consumers across the region.
Similarly, Cebu Pacific, one of the Philippines’ leading airlines, contributed to regional connectivity, with flights spanning Southeast Asia, driving tourism, trade, and mobility,” JG Summit said.
“His focus on innovation, inclusive growth, and sustainability has helped position the company as a key driver of economic progress across Southeast Asia,” EY-Bank of Singapore said in a release.
In his speech accepting the award, Gokongwei said: “I am grateful and honored to receive this year’s EY Asean Entrepreneurial Excellence Award. This recognition inspires me to continue leading with a deep sense of purpose, and to be a good steward of the business that has been entrusted to me. This award wouldn’t have been possible without the support of my Gokongwei Group colleagues who bring to life our purpose — an unrelenting commitment to provide our customers with better choices, creating shared success with our stakeholders — every single day.”
The Gokongwei Group is one of the Philippines’ largest and most diversified conglomerates. It has interests in food (URC), air transport (Cebu Pacific), real estate (Robinsons Land), petrochemicals (JG Summit Petrochemical), retail (Robinsons Retail), financial services (GoTyme Bank), media (Summit Media), among others.
The EY Asean Entrepreneurial Excellence (AEE) award was established in 2015. It honors business leaders who inspire excellence across industries. It is presented by professional services organization EY and the Bank of Singapore.
Eminent leader in Asia
SM Prime Holdings Corporation president Jeffrey Lim received the Eminent Leader in Asia Award at the 2024 Asia Corporate Excellence and Sustainability (ACES) Awards held in Bangkok, Thailand on November 14.
Lim, a Certified Public Accountant who finished his Bachelor’s degree in Accounting from the University of the East, took the helm of SM Prime in October 2016 as president. He has been with SM Prime since it was founded in 1994 or 30 years ago.
He was appointed SM Prime president in 2016, the first non-member of the Sy family to hold the top post. He played a key role in the consolidation in 2013 of all property units of the SM Group into SM Prime, creating the largest property company in the Philippines.
“For Lim, true leadership is rooted in a steadfast commitment to collective success rather than personal recognition. He believes the best leaders elevate those around them, fostering collaboration and driving the organization forward with a shared sense of purpose. Lim views leadership as less about commanding and more about listening, understanding and empowering.
He strives to create a work environment where each employee feels valued and respected. While focused on achieving outstanding business results, he equally prioritizes a culture that supports well-being and self-care for his team,” the ACES citation said.
“Lim’s approach to sustainability extends well beyond regulatory compliance, embedding environmental stewardship at the core of SM Prime’s operations. He advocates for responsible business practices that maximize resource efficiency while carefully managing the ecological balance,” it added.
The ACES Awards is organized by the MORS Group, a research-based consulting and training organization. Its goal is to “understand the dynamics of Asia” and to help “propel Asia towards sustainable growth.” It operates the think tank ACES Institute, which produces research seeking to influence government policies.
The MORS Group says the Asia Corporate Excellence & Sustainability Awards, which started in 2014, is the “longest-running and most recognised Corporate Leadership and Sustainability awards in Southeast Asia.”
It says the ACES presents “the stellar leadership abilities of key management personnel over a range of industries, market sectors and nations, as well as presenting non-biased audits on the environmental and social initiatives undertaken by corporations.”
The ACES awards also serve as a “platform” for knowledge sharing, mentoring, networking, and showcasing best practices.
“This recognition belongs to the entire SM Prime team,” Lim said in his acceptance speech. “Their dedication and hard work have built the company into the success story it is today.”
SM Prime said Lim has been instrumental in the company’s transformation from a Philippine mall operator to one of Southeast Asia’s leading integrated property developers.
“His focus on sustainable development has enabled the company to create thriving spaces that contribute to the economic and social well-being of communities across the Philippines,” SM Prime said.
At least two other Filipinos have also been recognized by ACES: Dr. Andrew Tan, chair and president of Megaworld, won ACES Entrepreneur of the Year Award in 2022, and Vivian Que-Azcona, president of Mercury Drug Corporation, was Woman Entrepreneur of the Year in 2021
Corporate governance award
Meantime, in the local scene, SM Prime Executive Committee Chairman Hans Sy, one of the sons of the late SM founder Henry Sy Sr., was conferred the title of Honorary Fellow by the Institute of Corporate Directors (ICD) Philippines on November 18, Monday.
ICD Philippines is a non-stock, non-profit association that promotes good corporate governance via in person and online courses. It was founded by former Finance Secretary Jesus Estanislao, now its chairman emeritus.
“Good corporate governance is critical to a country’s global competitiveness and has been shown to have a direct correlation with corporate profitability and growth. Government and regulators require it. Companies of all sizes need it,” says ICD Philippines of its advocacy.
The ICD’s Honorary Fellow title is the highest distinction given by the group. It is awarded after a rigorous selection process of individuals who have made exceptional contributions to promoting good corporate governance.
“Mr. Sy’s journey is a testament to the impact that visionary leadership and unwavering commitment can have on industries and communities alike,” said ICD Trustee Tomasa Lipana. “His work inspires not only success but also defines purpose — reminding us that true leadership is about leaving a meaningful legacy to the country and to the world.”
In accepting the title, Sy said: “As public companies, our responsibilities extend beyond profit. We owe it to our stakeholders to uphold the highest standards of transparency, accountability and ethical leadership.”
He also stressed the Sy family’s adherence to values not just as obligations but as guiding principles. “This ensures we lead with purpose, grow responsibly and create a positive social impact,” he added.
SM Prime, in a press release, said: “The recognition highlights his significant contributions to corporate governance, sustainability, disaster resilience and education, alongside his efforts to advance best practices within the private sector.” – Rappler.com
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