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Billionaire Necisto Sytengco dies at 65

Billionaire entrepreneur Necisto Sytengco, founder of listed chemicals firm SBS Philippines Corp., has passed away at 65, his company announced.

“It is with great sadness that the board of directors and management of SBS Philippines Corporation announce that today, it was informed of the death of its founder and chairman of the board Mr. Necisto U. Sytengco,” SBS Philippines told the Philippine Stock Exchange.

Sytengco was the SBS Philippines’ president from its incorporation on July 17, 2001 to January 28, 2016 and also served as its chairman from March 5, 2015 until the present.

“Together with his children and long-time colleagues, Mr. Sytengco established the Sytengco Group of Companies and made it into one of the country's premier conglomerates,” the company said.

Business publication Forbes ranked Sytengco as 39th richest Filipino with a net worth of $210 million. -NB, GMA News