Three PH Firms named in 2022 Forbes Asia’s Best Under A Billion list
Three Philippine-based companies made it to Forbes Asia’s Best Under a Billion list this year. The list recognizes 200 top-performing companies in the Asia Pacific region with sales above 10 million and below 1 billion dollars.
The business magazine also noted the performance of different industries during the pandemic, citing the boom of healthcare and pharmaceutical-related companies, as well as the rise of consumers’ shift to discretionary spending as COVID-19 restrictions begin to ease.
According to an article by Forbes released Tuesday, “the post-pandemic return to daily life has benefitted apparel makers, mall operators, restaurants, consumer electronics, and entertainment companies, among others.”
Leading in terms of sales, net income, and market value is cement producer Eagle Cement. Its 2021 sales were US$434 million (PHP 24 billion) with a net income of US$122 million (PHP6.79 billion). Founded in 1995 and headquartered in Mandaluyong, the company is valued at some US$1.17 billion.
Second in sales is pipes and roofing manufacturer Crown Asia Chemicals. Founded in 1989 and based in Guiguinto, Bulacan, the company raked US$35 million in annual sales last year, with a net income of $US5 million. Crown Asia Chemicals is valued at US$21 million.
Coming in third is online stock brokerage company COL Financial Group with total sales of US$27 million in 2021. The company based in Pasig was founded in 1999 and has a net income and market value of USD $12 million and $319 million respectively. Although it is ranked third in sales, COL Financial Grop is second in terms of net income and market value.
The full list of Forbes Asia’s Best Under A Billion 2022 can be viewed here.