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PH business community mourns death of moguls Gotianun Sr, Cabangon-Chua

Andrew Gotianun Sr. founded Filinvest Land while Antonio Cabangon-Chua's group took over RPN-9 in 2014.
By Entrepreneur Staff |

 

BUSINESS STALWARTS.  Filinvest Development Corp. founder Andrew Gotianun Sr. (left), was one of the first developers in Alabang, Muntinlupa. Meanwhile, Antonio L. Cabangon-Chua established media entities RPN 9 (now CNN Philippines) and Business Mirror. Photo from Fortune Hill website and University of the East website

 

This week concludes with the passing of two of the country’s esteemed business leaders.

 

Filinvest Development Corporation founder Andrew Gotianun Sr., 88, passed away on Thursday, March 10, Inquirer.net reported.

 

The taipan founded Filinvest Land Inc, one of the country’s largest real-estate developers. He also had interests in EastWest Bank, hospitality, power generation, and sugar businesses.

 

In 2015, Forbes listed Gotianun as the 18th richest Filipino with an estimated net worth of $910 million. 

 

Gotianun was described as “gender-neutral” when it comes to succession planning, with his only daughter, Josephine “Jojie” Gotianun-Yap now running his business empire, Inquirer.net noted.

 

Meanwhile, media mogul Antonio L. Cabangon-Chua passed away on March 11, Friday, his family said in a statement. He was 81.

 

“Please join my family in praying for the peaceful repose of the soul of our beloved father, Ambassador Antonio L. Cabangon-Chua today, March 11, 2016,” said his son D. Edgard Cabangon in a statement released by CNN Philippines.

 

Cabangon-Chua owns ALC Group of Companies, which established media entities RPN-9 (later rebranded as CNN Philippines), Business Mirror newspaper, and Philippine Graphic. He also founded Citystate Savings Bank, Fortune Life Insurance Co., Inc., Eternal Plans, Inc., and Citystate Properties and Management Corp. (CPMC). The group also has Isuzu GenCars as one of its interests.

 

Cabangon-Chua's wake will be held at Heritage Park, Arlington Chapel, Taguig City. – Elyssa Christine Lopez

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