6 PH firms make it to Forbes Global 2000 list

Published June 7, 2018, 12:00 AM

by manilabulletin_admin

 

By James Loyola

Six Philippine companies made it to Forbes Magazine’s 16th annual Global 2000 list, a ranking of the biggest, most powerful and most valuable companies in the world.

The local companies that made it to the list consist of four conglomerates and two banks led by SM Investments Corporation, the flagship of the Sy family at No. 883 with a market value of US$21.2 billion.

(MANILA BULLETIN)
(MANILA BULLETIN)

Second in the list is SM’s banking arm BDO Unibank Inc. (No. 1072) with a market value of $11.1 billion followed by Ramon S. Ang and Roberto V. Ongpin’s Top Frontier Investment Holdings, Inc. at No. 1210 with a market value of $1.7 billion.

Fourth in the list is Ayala Corporation, the country’s oldest conglomerate, at No. 1216 with a market value of $11.5 billion, the Gokongwei family’s JG Summit Holdings Inc. at No. 1506 with a market value of $8.4 billion and Metropolitan Bank & Trust Corporation at No. 1750 with a market value of $6.6 billion.

Forbes said the ranking is based on a combination of four metrics: sales, profits, assets, and market value.

Chinese companies extend their streak at the top of the Global 2000 list. Industrial & Commercial Bank of China is ranked No. 1 for the sixth consecutive year. China Construction Bank remains in the No. 2 spot.

The other two of China’s “Big Four” banks – Agricultural Bank of China and Bank of China – remain in the top ten, which is evenly split between China and the United States.

JPMorgan Chase is now the largest company in the U.S., moving up one spot to No. 3 and overtaking Berkshire Hathaway (No. 4). Rounding out the top ten are Agricultural Bank of China (No. 5), Bank of America (No. 6), Wells Fargo (No. 7), Apple (No. 8), Bank of China (No. 9) and Ping An Insurance (No. 10).

As a group, the Global 2000 accounts for $39.1 trillion in sales, $3.2 trillion in profit, $189 trillion in assets and $56.8 trillion in market value. All metrics are up double digits year-over-year, with profits up an impressive 28 percent.

“It’s been a strong year for businesses worldwide, and companies on the Forbes 2018 Global 2000 saw their market value, assets, sales and profits jump,” said Halah Touryalai, Deputy Editor, Money & Markets, Forbes Media.

He noted though that, “while this year’s market correction may not hurt the world’s largest public companies, looming geopolitical challenges, like a trade war, are a different story. With China and the United States making up more than 40 percent of the Global 2000, the possibility of a trade war between the two is a major risk for global companies.”

This year, there are 131 newcomers to the list. The global IPO market has started to pick up and helped to secure 14 companies on the 2018 list.

Essity, a Swedish personal care company, was the highest debut in 2018, at No. 722. Spotify was the most high-profile IPO. The music-streaming company debuted at No. 1644 in large part because of its $27 billion market cap.

For the complete list and more, visit www.forbes.com/global2000.

 
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