Editor's Pick

Three local companies enter Forbes’ under a billion list

Three Philippine companies — COL Financial Group, Inc., Crown Asia Chemicals Corp. and Eagle Cement Corp. — are among Forbes Asia’s roster of top-performing publicly traded small and midsized firms in the Asia-Pacific region this year.

The annual “Forbes Asia’s Best Under A Billion,” identifies the top 200 companies out of 20,000 publicly listed firms in the region with sales above $10 million and $1 billion. 

The 2022 list used the full-year annual results, based on the latest publicly available figures as of July 11.

“Of note, the list features companies from across the region, spanning industries such as semiconductors, software and services, pharmaceuticals, healthcare and manufacturing,” Forbes Asia said.

COL Financial Group generated $27 million in sales and $412 million in net income, while its market value is pegged at $319 million.

Crown Asia Chemicals recorded $35 million in sales and a net income of $5 million, with a market value of $21 million.

Meanwhile, Eagle Cement registered $434 million in sales and $122 million in net income, with a market value projected at $1.17 billion.

“As Covid-19 restrictions ease across the Asia-Pacific and people adapt to the new normal, this year’s annual Best Under A Billion list highlights the shift to discretionary spending,” Forbes Asia stated.

The list is unranked and companies were selected based on their overall track record for debt, sales and earnings-per-share growth over the most recent fiscal one- and three-year periods and the strongest one-year and five-year average returns on equity.

Through qualitative, screening companies with “serious governance issues, questionable accounting, environmental concerns, management issues or legal troubles” were excluded. 

State-controlled and subsidiaries of larger companies were also excluded and the criteria also ensured a geographic diversity of companies from across the region.

It added that the easing of restrictions has benefitted apparel makers, mall operators, restaurants, consumer electronics and entertainment companies, among others.

The full list can be accessed at www.forbes.com/bub and in the August issue of Forbes Asia. — Justine Irish DP. Tabile

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