Fashion
Three Filipino companies made it into Forbes’ list of 50 best-performing listed firms in Asia this year.
Jollibee Foods Corp., Puregold Price Club, Inc. and Robinsons Retail Holdings Inc. were included among “Asia’s Fab 50 Companies,” compiled by Forbes Magazine.
Companies are selected based on their record of revenues, operating earnings and return on capital over the last five years.
“These 50 companies have solid financial track records, coupled with great management and entrepreneurial skill,” Forbes said in its website.
China dominated the list with 21 companies, including frontrunner Alibaba Group Holding Ltd. The e-commerce giant has a market value of $242.5 billion.
With three representatives on the list, the Philippines beat out countries like Australia, Indonesia, Japan, Malaysia, Thailand and Vietnam, with only one company each.
The Philippine firms, however, still had considerably lower market value than their regional counterparts.
Fast food company Jollibee was the largest among the three Philippine companies, with a market value of $5.9 billion. Other than the iconic Jollibee brand, it also owns Chowking, Greenwich, Red Ribbon, Mang Inasal, and Burger King in the country.
Supermarket operator Puregold followed with $2.6 billion. The Lucio Co firm runs the Puregold and S&R Membership Shopping chains.
Lastly, Robinsons Retail notched $2.5 billion. The company handles Robinsons’ supermarkets and department stores, as well as Ministop convenience stores, South Star Drug pharmacies, among others.
Meanwhile, property developer SM Prime Holdings, Inc. was cited as one of “Asia’s Stars in the Making.”
Forbes listed a dozen Asian companies “waiting in the wings” — just narrowly missing out on the Fab 50 for the year. These “rising stars” are considered “potential candidates in the coming years,” Forbes said in its website.
The Sy-led SM Prime operates SM’s portfolio of shopping malls, residential properties, office buildings, and hotels.
