Lance Gokongwei wins EY Asean Entrepreneurial Excellence Award

Lance Gokongwei —CONTRIBUTED PHOTO

Tycoon Lance Gokongwei has bagged the prestigious EY-Bank of Singapore Asean Entrepreneurial Excellence (AEE) Award for 2024, cementing his reputation as one of the most influential business leaders in the Association of Southeast Asian Nations (Asean) business community.

This is an honorary award that is presented on board the “Entrepreneur of the Year” platform, recognizing “successful Southeast Asian businesses that contribute to the economy and community in the region.”

The president and CEO of JG Summit Holdings will formally receive the award in Singapore on Nov. 18.

“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,” says Liew Nam Soon, EY Asean regional managing partner and Singapore and Brunei managing partner.

“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.”

Established in 2015, the AEE award celebrates visionary business leaders who inspire excellence across various sectors. Sponsored by EY in collaboration with the Bank of Singapore, the award honors entrepreneurs driving economic growth and societal progress in the region.

Under Gokongwei’s stewardship, JG Summit has emerged as a key player in Asean’s diversified business landscape, emphasizing innovation, inclusive growth and sustainability.

Reflecting on his philosophy, Gokongwei states, “I want to make a positive and lasting difference in everything I can do and pay it forward.” This ethos is seen to underpin his leadership style, balancing profitability with a commitment to stakeholder value and community development.

Through its subsidiaries, including Universal Robina Corp. and Cebu Pacific, JG Summit has positioned itself as a Pan-Asian play.

URC operates in key regions such as Hong Kong, Indonesia, Malaysia and Vietnam, offering products tailored to diverse consumer needs. Meanwhile, Cebu Pacific enhances regional connectivity, driving tourism and trade with its extensive flight network across Southeast Asia.

Gokongwei’s leadership also puts a premium on innovation. His digital banking initiative, GoTyme, launched in partnership with Singapore’s Tyme Group, supports financial inclusion by providing millions of Filipinos with accessible banking services.

This AEE award is also seen to underscore his pivotal role in advancing the goals of the Asean Economic Community (AEC), which seeks to integrate the economies of its 10 member states. Under his guidance, JG Summit has played a significant role in driving economic growth aligned with the AEC’s vision of a competitive and interconnected Southeast Asia.

As the region continues to evolve rapidly, Gokongwei’s leadership illustrates how commercial success can coexist with social responsibility. —Doris Dumlao-Abadilla