Sy family controls 2 of 6 PH firms in Forbes’ Global 2000 list
The fortune of the world’s biggest corporations rose and fell as it’s been a rollercoaster of a year for global markets.
This is reflected in Forbes Magazine’s 17th Global 2000 list –an international ranking of the world’s biggest, most powerful and most valuable companies.
Only six Philippine companies made it to the prestigious list, led by two firms controlled by the Sy family which has also been ranked as the country’s richest.
Topping the list of Philippine firms in Forbes’ Global 2000 is BDO Unibank at 1,018 followed by SM Investments Corporation at 1,092. Both firms are controlled by the Sy family — the only Philippine group with two firms in the list.
Third is Top Frontier Investment Holdings at 1,196. The firm is the biggest shareholder of conglomerate San Miguel Corporation and is controlled by SMC President Ramon S. Ang.
Ayala Corporation, the country’s oldest conglomerate, is fourth among Philippine firms in the Global 2000 list at 1,236.
Metropolitan Banking and
Trust Corporation controlled by the Ty family, is the second bank and fifth among local firms in the list at 1,639.
Conglomerate JG Summit Summit Holdings, Inc. of the Gokongwei family is ranked at 1,720 and is the last Philippine company to be included in the list.
“We compile our Global 2000 list using data from FactSet Research systems to screen for the biggest public companies in four metrics: Sales, profits, assets and market value,” said Forbes.
It added that, “our market value calculation is as of April 18, 2019, closing prices and includes all common shares outstanding.”
For the global ranking, the Industrial and Commercial Bank of China took the top spot again for the seventh year in a row. The rest of China’s “Big Four” banks all made the top ten, and JPMorgan Chase climbed up to the second spot due to rising profits thanks in part to major tax cuts.
Of the 61 countries represented on the list, the United States is home to the largest number, 575 companies. China and Hong Kong were next with 309, followed by Japan with 223.