Emilio T. Yap, 88

Posted on April 08, 2014

BUSINESS TYCOON Dr. Emilio T. Yap, chairman of the daily broadsheet Manila Bulletin, died yesterday at the age of 88.

“The Manila Bulletin Publishing Corp. announced today the passing of its chairman of the board Dr. Emilio T. Yap, on Monday, April 7, 2014,” the newspaper said in a statement on its Web site.

As of press time, the broadsheet declined to give further information on the cause of his death, adding that details of funeral services for Mr. Yap will be announced later.

Born in 1925, Mr. Yap bought shares in the Manila Bulletin (then Bulletin Publishing Corp.) from Swiss general Hans Melchior Schilling Menzi in 1961, becoming the paper’s chairman of the board on July 11, 1984.

In July 2013, Forbes magazine ranked Mr. Yap as the 13th richest Filipino in a list of 50, with an estimated net worth of $1.35 billion.

Mr. Yap was the chairman of the board of Centro Escolar University since 2002, and of Liwayway Publishing, Inc., Philippine President Lines, Inc., US Automotive Company, Inc., Manila Prince Hotel Corp., Manila Hotel Corp., and Philtrust Realty Corp. He was also Chairman Emeritus of Philippine Trust Co. (also known as Philtrust Bank). -- Anton Joshua M. Santos