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Gokongwei group going deep into digital world

/ 02:28 PM September 20, 2019

The Gokongwei group seeks to deepen its digital ventures by enlisting a financial technology (fintech) veteran to head Data Analytics Ventures Inc. (DAVI) and JG Digital Equity Ventures Inc (JG DEV), two companies focusing on data and digital space.

Elmer “Jojo” Malolos, former chief executive of Wing (Cambodia) Ltd. Specialised Bank., has joined the group to head its digital companies.

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DAVI is owned by JG Summit Holdings Inc., holding company of the Gokongwei group, together with subsidiaries Cebu Air Inc and Robinsons Land Corp. (RLC), as well as affiliate Robinsons Retail Holdings Inc (RRHI).

Malolos is expected to lead efforts in transforming DAVI into a leading digital rewards program and creating a robust data infrastructure and analytics business to empower consumer-oriented businesses under the conglomerate.

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He is also expected to lead JG DEV, JG Summit’s investment vehicle for digital ventures that seeks to tap emerging technologies and start-ups, intending to disrupt the business model of its existing core businesses, as well as tap into the group’s ecosystem for new plays.

His mandate, according to a disclosure to the Philippine Stock Exchange by JG Summit president and CEO Lance Gokongwei on Friday, Sept. 20, is to “build cutting edge digital enterprises.”/TSB

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TAGS: companies, digital, financial technology, Gokongwei, JG Summit, subsidiaries, venture, Veteran
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