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8 Phlilippine companies in Forbes Global 2000 top firms
MANILA, Philippines – Eight companies from the Philippines are among the world’s best and largest public companies.
This is according to this year’s Forbes Global
2000 list, a yearly ranking of companies around the world based on their sales, profit, assets and market value.
The Sy family’s SM Investments Corp. tops the list of Philippine companies, ranked at 823 with sales of $7.3 billion.
This was followed by another Sy company, BDO Unibank, which ranked 1,018 with sales of $2.6 billion.
Gokongwei-owned JG Summit Holdings followed with totals sales of $4.9 billion or at 1,151 spot while Ayala Corp., the conglomerate of the Ayala family ranked 1,175 with sales of $4.2 billion.
Top Frontier Investments Holdings, the largest shareholder of San Miguel Corp., was at 1,128 with total sales of $14.2 billion while Metropolitan Bank and Trust or Metrobank of taipan George Ty was at 1,531 with sales of $2 billion.
Aboitiz Equity Ventures, the holding company of the Aboitiz family took the 1,793 spot with sales of $2.5 billion; and Manila Electric Company (Meralco) at 1,947 with sales of $5.4 billion.
According to the list, China’s banking giants hold steady at the top of the 2017 Global 2000 list, with Industrial and Commercial Bank of China at the top spot for the fifth consecutive year.
China Construction Bank remains in the No. 2 spot. while other two of China’s “big four” banks – Agricultural Bank of China and Bank of China – dropped down on the list, but remained in the top 10.
“Berkshire Hathaway, the largest company in the US, moves up one spot to No. 3 on this year’s list,” Forbes said.
Rounding out the top 10 are JPMorgan Chase (No. 4), Wells Fargo (No. 5), Agricultural Bank of China (No. 6), Bank of America (No. 7), Bank of China (No. 8), Apple (No. 9) and Toyota Motor (No. 10), Forbes also said.
“Despite a slowing of the global IPO market, there are several newcomers to the list. Asia leads with 13 companies joining the Global 2000 ranks. The highest debut at No. 55 is Postal Savings Bank of China. The September 2016 IPO was the year’s largest, worth $8.1 billion. In the U.S., the most high-profile company to enter the list was Snap Inc.
“Forbes’ 2017 Global 2000 list faces much pressure amid unsteady geopolitical climates and slowing economies. Yet, in aggregate, these 2,000 companies have managed to come out stronger than last year, with increased sales, profits, assets and market values. Despite slowing GDP figures, China and the U.S., whose companies make up more than 40 percent of the list, continue to dominate the top 10 list with financial giants,” said Halah Touryalai, Deputy Editor, Investing, Forbes Media. “
“This list illustrates that in spite of headwinds, the world’s dominant companies remain a steady force in an unpredictable and challenging environment,” Touryalai added.
Source: http://www.philstar.com/business/2017/05/26/1703515/8-phlilippine-companies-forbes-global-2000-top-firms