Only six Philippine firms made it to Forbes Global 2000 this year. The list ranks the top 2000 companies in the world in terms of assets, sales, profit and market value. It’s a ranking of the biggest, most powerful and most valuable companies in the world. It uses an equal weighing on all four metrics in order to rank them according to size. Each company is scored per metric and each is then added to get a composite score.
Last year, there were eight companies included in the list but this year, it narrowed down to six only. Forbes 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. The metrics have been up double digits year over year with profits up 28%.
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Stock Smarts Iloilo – August – 12, 2018
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Henry Sy, Sr., the richest man in the country, took the banner as his companies were included in the list. His holding firm SM Investments Corp. stood at the 883rd place this year. Last year, it ranked at the 823rd. Sy’s banking unit, BDO Unibank, Inc., was still included in the list but it slipped to the 1,072nd place from the 1,018th in 2017.
Another included in the list is the largest shareholder of San Miguel Corp., Top Frontier Investment Holdings, Inc. The company was also listed last year in the 1,128th spot but this year it ranked in the 1,210th spot.
Ayala Corporation, while engaging in numerous projects this year, dropped to 1,216th place from last year’s 1,175th. JG Summit Holdings, Inc. also made it to the list but it only ranked to the 1,506th slot from its 1,151st spot last year. Another bank made it to the list, Metropolitan Bank & Trust Company. Last year, it was in the 1,531st place but this year, it only got to 1,750th.
Unfortunately two corporations who made it last year in the list were not able to make it this year’s list and these two are Aboitiz Equity Ventures, Inc. and Manila Electric Company.
The Big Boys in the Business
This year, Industrial & Commercial Bank of China still dominated the list as it ranks first place for the sixth consecutive year followed by China Construction Bank. JPMorgan Chase landed the third spot overtaking Berkshire Hathaway which landed on fourth place.
The fifth to tenth place is as follows: Agricultural Bank of China, Bank of America, Wells Fargo, Apple, Bank of China and Ping An Insurance.
Although numerous Philippine companies were able to make the list, most of their rankings declined in comparison to last year’s rankings. And as can we clearly observe, the financial sector is the most profitable sector since two of the biggest banks in the country made it to the list. Also, the companies which were included in the list were really big or had massive operations hence the risks involved were quite spread out making it impossible for them to absorb it entirely.