About JAKA Group
GROWTH

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Period of Consolidation

The onset of the Asian financial crisis in 1997 was a rude awakening for the business community in the Philippines and the rest of the Pacific Rim countries. Unable to cope with the rising cost of capital, the bubble burst on the property markets of Asia rendering most investors financially illiquid. Consumer confidence evaporated almost overnight and consumer spending dropped to unprecedented levels.

Like most other companies in the Philippines, the JAKA Investments Corporation had to take a long hard look at the operations of its various affiliates. Difficult decisions were made and implemented as the group battened down its operations in anticipation of a threatened economic recession. The company consolidated its operations to its core business competencies even as each affiliate implemented cost-efficiency measures that would help each of them cope with the trying times.

In 2002, Senator Juan Ponce Enrile assumed the position of President and Chief Executive Officer of JAKA Investments Corporation and the JAKA Group of Companies. Making good its promise to its investors and notwithstanding the adverse conditions prevailing in the local property market, the company completed the golf course at Splendido Taal and opened its greens and fairways to club members.

Finding opportunities even during periods of economic crisis, Sigma Security Services, Incorporated established in 2003 its wholly-owned security training academy, the Sigma Institute for Security and Protection Training, Incorporated. Crinier LLC – a trading company organized under American laws was established by JAKA to import and market its consumer products to the Filipino communities in the United States.