Eight PHL companies counted among Forbes’ ‘Best Over a Billion’

EIGHT LOCAL FIRMS made it to Forbes Asia magazine’s list of “Best Over a Billion 2019,” which recognizes 200 top-performing listed companies in Asia and the Pacific with revenues of more than $1 billion.

In a statement, Forbes Asia said it evaluated 3,200 listed companies in the region with at least $1 billion in revenues in their latest financial year.

Firms with declining revenues for the past five years were removed, and those remaining subjected to more than a dozen metrics like average five-year sales, operating income growth, return on capital and projected growth over the next one to two years.

Sy-led SM Investments Corp. led the Philippine firms with revenues of $7.993 billion in 2018 and a $704-million net income.

San Miguel Food and Beverage, Inc. followed with sales of $5.438 billion, while Gokongwei-led JG Summit Holdings, Inc. and Ayala Corp. trailed with revenues of $5.327 billion and $5.22 billion, respectively.

GT Capital Holdings, Inc., which holds auto firm Toyota Motor Philippines and lender Metropolitan Bank and Trust Co., was the fifth local firm with revenues of $3.794 billion.

Tycoon Lucio L. Co’s Cosco Capital, Inc. that operates leading retailer brand Puregold was the sixth in the local list with sales of $3.198 billion.

Homegrown food giant Jollibee Foods Corp. also made it to the list with sales of $3.061 billion, followed by Megaworld Corp. with $1.022 billion.

China tech giant Alibaba Group Holding Limited topped overall with $56.163-billion revenues.

Tencent Holdings, another Chinese Internet firms, followed with $47.308-billion revenues.

Agribusiness company Wilmar International of Singapore, semiconductor manufacturer SK Hynix of South Korea, and Hong Kong conglomerate CK Hutchison came next with sales of $44.498 billion, $36.772 billion and $35.359 billion, respectively.

This is the first year for Forbes Asia’s “Best Over a Billion” list.

The new roster complements Forbes Asia’s annual “Best Under a Billion” list of the 200-best performing small and mid-sized companies in Asia Pacific will less than $1 billion in revenues.

Forbes Asia said the list also emphasizes the connection between the companies and members of their annual rich lists.

“The ‘Best Over A Billion’ list provides an incredible insight into which are Asia’s best-run big companies,” Forbes Asia Editor Justin Doebele said in a statement.

“Nearly two-thirds of the companies on this list are controlled by or connected to families or individuals who have appeared on Forbes Asia’s rich lists.” — Arra B. Francia