Mr Lance Gokongwei, son of Philippine billionaire John Gokongwei Jr, has big shoes to fill.
The elder Mr Gokongwei is the Philippines’ third-wealthiest tycoon with a net worth of US$5 billion (S$6.8 billion). He built JG Summit Holdings, a sprawling conglomerate, from a single corn starch factory in 1956.
The younger Mr Gokongwei – the only son among six siblings – does not recall having a conversation with his father about taking over the business, but he has made his mark in the corporate world with over three decades in various operating units. Last year, he became JG Summit’s chief executive.
He most notably blazed a trail when he was at the helm of Cebu Pacific. The budget carrier had just five planes in 1996. Today it has a fleet of more than 70 aircraft.
Mr Gokongwei shares his vision in the latest Wealth magazine, distributed with The Business Times today.
Wealth’s first edition for this year also proffers a cogent view of asset markets at a time when volatility threatens to keep investors on the sidelines.
In the Roundtable, expert panellists agree that a global recession is not imminent even if growth expectations have been adjusted downwards. The experts’ asset picks include equities, emerging markets local currency bonds and high-yield credits, which were beaten down last year.
In the Real Estate column, Knight Frank research head Lee Nai Jia is optimistic about the Singapore residential market this year. He expects prime property to stay resilient while rents are also expected to improve.