“The Palace offers its fervent prayers for the eternal repose of the soul of Mr. Cojuangco as we convey our heartfelt condolences to his family, colleagues, friends, and loved ones,” Presidential spokesperson Harry Roque said Wednesday in a statement.
Roque noted Cojuangco’s contribution to the country’s “socio-economic development” through SMC’s operations in food beverages, energy, power, oil refining, and infrastructure.
“SMC has provided livelihood opportunities to tens of thousands of our countrymen as direct workforce, and creation of additional jobs as suppliers, distributors, retailers, and the like,” Roque said.
“In these trying times, Mr. Cojuangco’s SMC has been a reliable partner of the government in mitigating the impact of the COVID-19 by providing support and assistance to frontliners and vulnerable sectors,” he added.
Apart from being SMC’s boss, Cojuangco founded and chaired the political party Nationalist People’s Coalition in 1992. The same year, he ran for president but lost to Fidel Ramos.
He served as governor of Tarlac province from 1967 to 1969.
Cojuangco was also a staunch supporter of basketball in the country. Through SMC, he was able to own three teams in the Philippine Basketball Association (PBA)—San Miguel Beermen, Barangay Ginebra San Miguel, and Star Hotshots.