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s e Pt em ber 27-O ctO b er 3, 2019 Volume 12 - No. 49 • 16 Pages 133-30 32nd Ave., Flushing, NY 11354 • 2500 Plaza S. Harborside Financial Center, Jersey City, NJ 07311 • Tel. (212) 655-5426 • Fax: (818) 502-0858
Also published in LOS ANGELES, ORANGE COUNTY/INLAND EMPIRE, LAS VEGAS, NORTHERN CALIFORNIA
Palace: Duterte won’t allow Chinese assault on Philippine sovereignty Justice Antonio Carpio’s claim that China would reclaim PanaPhilstar.com tag (scarborough) shoal bemANILA — malacañang fore President rodrigo Duterte on thursday, september 26, steps down as it stressed that dismissed as “speculation” su- the chief executive wouldn’t preme Court senior Associate permit any assault on Philipby Alexis
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from the AJPress NEWS TEAM AcroSS AMEricA
pine sovereignty. Carpio, an outspoken critic of Duterte’s policy on China, has warned that Beijing might try to build islands in Panatag shoal within three years.
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Duterte to evaluate suspension of foreign aid order - Palace by Ritchel
menDiolA AJPress
RICHEST FILIPINOS. Former Senate President Manny Villar remains the richest man in the Philippines, but his fortune is still eclipsed collectively by the children of the mall magnate that used to hold the title, according to Forbes.com. The children of late tycoon Henry Sy are together worth $17.2 billion, according to Forbes’ “Philippines’ 50 Richest.” Villar, however, tops the list in terms of individual wealth, with an estimated worth of $6.6 billion. This was over a billion dollars higher than an earlier estimate released by Forbes in March this year, which put the former lawmaker’s fortune at $5.5 billion. Infographic courtesy of Philstar.com
SECOND GENERATION OF BILLIONAIRES EMERGE
PresIDeNtIAL spokesperson salvador Panelo on tuesday, september 24, said President rodrigo Duterte will evaluate his directive suspending aid agreements with countries in favor of the Iceland-led resolution seeking a probe into the Philippines’ war on by DoRis DumlAo-AbADillA Inquirer.net illegal drugs. this is after the defense department made mANILA–the sy siblings an appeal to exempt military deals from remain the wealthiest family Duterte’s memorandum. in this part of the world, with u PAGE 4 a combined net worth of $17.2 billion coming from their market-leading property, banking and retailing businesses, based Fil-Am federal prosecutor Patrick J. Bumatay on forbes magazine’s “2019 Department of Justice photo forbes Philippines rich.” the second generation sys by Ritchel menDiolA made it to the list for the first AJPress time this year, replacing their father henry sy sr., as the PhILIPPINe fast food giant Jollibee foods new No. 1, a position which Corp. (JfC) has completed its $350-million the late sm group patriarch acquisition of American beverage and food held for 11 consecutive years. retailer Coffee Bean and tea Leaf (CBtL), the six sy siblings are teresita marking it as the company’s largest acquisi- (sy-Coson), elizabeth, henry PresIDeNtIAL spokesperson salvador Pan- tion to date. “Big Boy” Jr., hans, herbert elo on tuesday, september 24, said President Jollibee on tuesday, september 24, disclosed and harley. rodrigo Duterte will evaluate his directive sus- to the Philippine stock exchange (Pse) that it the ty siblings of Gt Capital pending aid agreements with countries in favor has completed all the necessary closing condi— Arthur, Alfred, Alesandra of the Iceland-led resolution seeking a probe tions for the deal, including government apand Anjanette — also entered into the Philippines’ war on illegal drugs. provals, provided by the purchase agreement. the list at No. 9 with a comu PAGE 4 u PAGE 2 bined net worth of $2.6 billion.
Sy siblings on top of Forbes PH richest list
Trump nominates Fil-Am attorney to 9th Circuit Court of Appeals for second time
Jollibee completes Coffee Bean acquisition
Hans Sy and Henry Sy Jr.
they succeeded their father George ty, who built Gt into a major conglomerate with interests in automotive, banking, insurance, power generation and real estate. Based on the list, which can be found at www.forbes.com/ philippines and in the october issue of forbes Asia, the top 10
Inquirer.net photo
richest in the Philippines are: 1) sy siblings; Us$17.2 billion 2) manuel Villar; $6.6 billion 3) John Gokongwei, Jr.; $5.3 billion 4) enrique razon, Jr.; $5.1 billion
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