Connect with us

Hi, what are you looking for?

Economy

6 Philippine firms join Forbes Global 2000 list

Six Philippine firms have again made into the latest Forbes Global 2000 list ranking the world’s top public companies.

SM Investments Corp. (SMIC) now leads Philippine firms at 877th place in Forbes magazine’s global ranking of the biggest and most valuable firms based on sales, profits, assets, and market value.

SMIC’s ranking rose from the 1,092nd spot in 2019 as its market value stood at $24.3 billion, assets at $25.5 billion, and profits at $471.6 million.

Sy-led lender BDO Unibank, Inc. followed at 1,159, dropping from the country’s top spot at 1,018 in 2019.

Top Frontier Investment Holdings, the biggest shareholder of San Miguel Corp., climbed to the 1,183rd spot from 1,196th.

Conglomerate Ayala Corp. improved its ranking to the 1,801st spot from 1,236th.

Meanwhile, LT Group entered the list at the 1,831st spot, while listed lender Metropolitan Bank & Trust Co. dropped to 1,929th from 1,639.

Gokongwei-led JG Summit Holdings Inc. is no longer in the list. after holding the 1,720th in 2019.

Globally, the top 2000 firms account for $39.8 trillion in revenues, $2.5 trillion in profits, $223.4 trillion in assets and $79.7 trillion in market capitalization.

“The COVID-19 pandemic had a significant impact on this year’s Global 2000 list, with total revenue and profits falling from last year,” Forbes Statistics Editor Andrea Murphy said in a statement.

“While certain sectors like the airline industry were hit hard, big-box retailers did well amid the shift to online shopping. Robust M&A (mergers and acquisitions) activity and the growth in IPOs (initial public offerings) over the last year has also led to the debut of many companies on the Global 2000.”

The top-ranked company is Industrial & Commercial Bank of China, followed by American banking giant JPMorgan Chase and Warren Buffett’s Berkshire Hathaway.

The United States has the biggest number of companies in the list at 590, followed by China at 350. — Jenina P. Ibañez

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Investing

Virgin Orbit’s next satellite launch will take place from the UK, following the success of the “Straight Up” mission, which lifted off from Mojave...

Investing

Post Office collection and cash delivery workers are to stage a one-day strike later this month in a dispute over pay. Members of the...

Investing

UK consumers cut back on credit card borrowing in May amid fears over rising interest rates and a slowing economy driven by a cost...

Investing

London City airport is seeking to overturn its Saturday flight ban and raise by 40% the limit on its passenger numbers. A local residents’...

Investing

The bank said that it was introducing a £1,200-a-year pay increase from August 1, which would start to show in next month’s pay packets....

Investing

Postmasters caught up in the Horizon IT scandal say that they are still being “left in the dark” about a compensation package after the...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Economy

Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...

Investing

Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...

Investing

As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.