Posted at 03/04/2014 8:28 PM | Updated as of 03/04/2014 8:29 PM

MANILA, Philippines – Tycoon John Gokongwei Jr. was recently honored with the Lifetime Achievement Luminary Award by Channel NewsAsia (CNA), the first Filipino to receive the recognition from the Asian TV news network.

Gokongwei, the founder of one of the Philippines’ largest conglomerates, was recognized for his contribution to the growth of the Philippine industry and the Asian economy.

“I knew I could make it in Cebu but I never thought I could make it in Manila,” Gokongwei said.

“Everything was done in accordance to what is right. It takes time and devotion…you rely on your family for help and if they’re a dedicated group, they will help you. And that’s what happened to me,” he added.

CNA, the broadcasting arm of MediaCorp of Singapore, said the Lifetime Achievement Luminary Award honors a business person whose success serves as an inspiration to others and whose achievements are iconic to the success of the Asian region.

The 87-year-old Gokongwei is the fourth recipient of the award given previously to business leaders from India, Thailand and Indonesia.

Gokongwei is the founder of JG Summit Holdings, Inc. (JGSHI), Robinsons Retail Holdings, Inc. (RRHI), Universal Robina Corporation (URC), Cebu Pacific Air (CEB) and Robinsons Land Corporation (RLC).

His business empire has a combined market cap of over $18 billion.