Money & Power

More Exclusive Than Billionaire Ranking: Only 6 Philippine Conglomerates In This Year's Forbes Global 2000 List

Two Filipino holding companies failed to return to the list of world's leading firms.
IMAGE Patrick Roque/ WIKIMEDIA COMMONS
Comments

Six Philippine companies were included in the latest Global 2000, a list of the world’s largest public companies compiled by business magazine Forbes.

That’s two less than the eight companies that made it last year, and just half of the 12 Filipinos who made it to Forbes’ billionaire rankings last March.

ADVERTISEMENT - CONTINUE READING BELOW

Leading this year’s list among Philippine entries is diversified conglomerate SM Investments, which ranks 883rd overall. Helmed by Henry Sy, the country’s richest individual, SM’s major businesses include retail, real estate, and financial services, with its banking unit BDO Unibank also making this year’s Global 2000 at No. 1,072.

Three other local diversified conglomerates made this year’s list: Top Frontier Investment Holdings (No. 1,210), the parent company of food, beverages and infrastructure firm San Miguel; Ayala Corp. (No. 1,216), which runs businesses in the real estate, banking and utilities sectors; and JG Summit Holdings (No. 1,506), which has a large presence in the retail, food and airline spaces.

Completing the list of six Philippine entries is another banking firm: the Metropolitan Bank & Trust Co., which ranks at No. 1,750 this year.

Collectively, these six companies are worth $60.5 billion (P3.2 trillion), with total revenues amounting to $39.3 billion. According to Forbes, these six companies also employ over 215,000 people across their numerous business units.

ADVERTISEMENT - CONTINUE READING BELOW

All six of these companies return from last year’s list, with all but Top Frontier Investment Holdings dropping in rank this year. The two companies who didn’t return from last year’s list are diversified conglomerate Aboitiz Equity Ventures and electricity provider Manila Electric Co.

Leading this year’s Global 2000 for the sixth year in a row is the Industrial and Commercial Bank of China, which has a market value of $311 billion. Fellow Chinese banking firms China Construction Bank and Agricultural Bank of China rank second and fifth respectively, while American financial services companies JPMorgan Chase and Berkshire Hathaway complete the top five. All in all, the 2,000 companies that make up the list are worth $56.6 trillion.

Forbes ranks companies in the Global 2000 based on four financial metrics: market value, sales, profits, and assets. It has published the list annually since 2003.

This story originally appeared on Entrepreneur.com.ph.
* Minor edits have been made by the Townandcountry.ph editors.

ADVERTISEMENT - CONTINUE READING BELOW
Comments
About The Author
Lorenzo Kyle Subido for Entrepreneur.com.ph
View Other Articles From Lorenzo Kyle
Comments
Latest Stories
 
Share
Barangay Bel-Air will celebrate the 15th anniversary of the Salcedo Market on August 31.
 
Share
Experience wine harvested from the best set of cool-climate vineyards in Argentina.
 
Share
In A Royal Road to Wembley: Tackling Mental Health, he advocates for men's mental fitness through the lens of football.
 
Share
Casiraghi owns one of the few carbon-neutral racing boats in the world.
 
Share
The Amazon is currently burning at the highest recorded rate since 2013.
 
Share
Expect to see Will and Kate traveling to church with the British monarch this weekend.
 
Share
The TV personality and lifestyle guru was seen having a good time while touring the metro.
 
Share
The 157-acre empty lot was at one point the most expensive real estate listing in the world.
 
Share
Oh, and without sacrificing style.
 
Share
In a world where everything is industrially produced, it’s best to consider safe organic meat to ensure good health.
 
Share
Thatcher Wine, celebrity bibliophile, shares his tips on collecting (and decorating) with books.
Load More Articles
CONNECT WITH US