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JG faces hurdles in petrochem exit

Manila Bulletin

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September 18, 2025

Doubts have been raised whether Gokongwei flagship JG Summit Holdings Inc. (JG Summit) can easily sell its petrochemicals business, JG Summit Olefins Corp. (JGSOC), in light of the number of distressed giant petrochemical companies in the region that are "in the same boat.

- By JAMES A. LOYOLA

"There is no assurance of a sale given that there are other distressed petrochem plants in the region and JGSOC might not be the best target for potential buyers," said Abacus Securities Corp.

It added that, "Moreover, management has indicated they expect to book a major impairment charge in the current quarter, suggesting the net realizable value/proceeds won't be substantial.

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