Eight Philippine companies secured spots on Forbes Asia magazine’s inaugural “Best Over a Billion (BOB)” list, which highlights the 200 top-performing listed companies across the Asia-Pacific region with revenues of more than $1 billion.
“The goal is to find the region’s best-run companies that are doing well on not just one metric but across many of them. The result is a list that represents the best of Asia-Pacific’s big companies,” said Forbes Asia.
The local firms included in the 2019 roster are: Ayala Corporation, Cosco Capital, GT Capital Holdings, JG Summit Holdings, Jollibee Foods Corporation, Megaworld Corporation, San Miguel Food and Beverage, and SM Investments Corporation.
Candidates for the BOB list were picked from a universe of 3,200 listed firms across the region and evaluated based on various metrics such as their average five-year sales, operating income growth, return on capital and projected growth over the next one to two years.
“The Best Over A Billion list provides an incredible insight into which are Asia’s best-run big companies. 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,” Justin Doebele, editor at Forbes Asia, said.
Among the eight companies, the most valuable was SM Investments Corp., the Philippines’ biggest conglomerate with market-leading positions in retailing, property development and banking with a market capitalization of $22.8 billion.
This is followed by San Miguel Food and Beverage with $11.86 billion and Ayala Corp. with $11.17 billion.
JG Summit, led by the Gokongwei family, has a market capitalization of $9.04 billion while Jollibee, with its goal to become one of the most valuable restaurant operators in the world, has $4.83 billion.
Megaworld and GT Capital are valued at $3.76 billion and $3.74 billion, respectively; meanwhile, Cosco Capital was valued at $942 million.