LCS Holdings explained

LCS Group of Companies
Type:Holding company
Industry:Conglomerate
Predecessors:-->
Successors:-->
Areas Served:-->
Key People:Luis Crisologo Singson, Chairman
Richelle Singson, Vice Chairperson
Owners:-->
Founder:Luis Crisologo Singson

LCS Group of Companies, also known as LCS Holdings Inc., is a Philippine conglomerate. The LCS Group is founded by Filipino politician Luis Crisologo Singson who serves as its chairman.

Ventures

Aviation

The LCS Group operates a charter airline known as Platinum Skies, which was incorporated in 2013.[1] [2]

Energy and mining

Satrap Mining Corporation is a subsidiary under the LCS Group founded in 2014. It operates and manages renewable energy power plants mostly in Ilocos Sur. It also has a partnership with Philippine National Oil Company (PNOC) regarding the exploration of use of renewable energy for off-grid areas.[3]

Satrap Mining Corporation is a subsidiary under the LCS Group engaged in mining. It was established in 2014.[1]

Finance

Through HalloHallo Skylark Lending, Corp., the LCS Group runs a loaning service known as Casha.[1]

Telecommunications

The LCS Group through Gracia Telecoms provides telecommunications services in Mindanao.[4] In 2018, the LCS Group expressed interest to participate in a government-sanctioned bidding which would enable it to become the third major telecommunications provider in the Philippines alongside Globe Telecom and SmartPLDT. The conglomerate formed a consortium called Sears Telecom with TierOne Communications International. TierOne is backed by Chinese firm Fujian Torch Electron Technology, Singaporean company Miller Pte. Ltd., and Cambodia-based Southeast Asia Telecom.[5] The consortium touted itself as the only bidder planning to use satellite internet access by deploying portable Wi-Fi hotspots connected via satellite.[4] LCS was not among the three entrants to the bidding,[6] which was eventually won by Mislatel, which renamed themselves as Dito Telecommunity.

Events

The LCS Group spent $15 million to host the 2016 Miss Universe pageant in the Philippines in January 2017, around $12 million alone spent to secure the hosting rights from the Miss Universe Organization.[1]

Notes and References

  1. News: Pascual . Jamaica Jane . After $15-M bill for Miss Universe: Inside the wealth of Chavit Singson . 10 March 2021 . GMA News . GMA News Research . 2 February 2017.
  2. News: Romulo . Mons . Her father's daughter . 10 March 2021 . The Philippine Star . 29 October 2019.
  3. News: Rivera . Danessa . PNOC, Singson firm explore off-grid renewable energy . 10 March 2021 . The Philippine Star . 27 August 2019.
  4. News: Valdez . Denise . Win or lose, Singson-led consortium will pursue telco expansion . 12 November 2018 . BusinessWorld . 7 November 2018.
  5. News: Fernandez . Butch . With 3rd player, Poe sees telecom reforms . 12 November 2018 . BusinessMirror . 8 November 2018.
  6. News: A quick look at the three firms that submitted bids to be third telco . 12 November 2018 . The Philippine Star . 7 November 2018.