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Philippine Billionaire Gokongwei Family Pumps $293 Million Into Loss-Making Petrochemical Unit

By Forbes   |   Nov 14, 2024 at 01:09 AM EST
Philippine Billionaire Gokongwei Family Pumps $293 Million Into Loss-Making Petrochemical Unit

JG Summit Holdings, led by billionaire Lance Gokongwei, plans to inject $293 million into its struggling petrochemical business to pay off debts. Despite losses in this sector, the conglomerate has seen a 16.3% increase in net profit.

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