Recently published, the 13th annual Forbes 2000 Global Ranking listed the most powerful and valuable world public listed companies. This ranking is computed based on different metrics such as profits, assets, sales or market value. Eight companies made it into the top 2000 organizations in the world.
With no surprise, China clearly dominated the index as the list was topped by four Chinese companies namely, Industrial & Commercial Bank of China (ICBC), China Construction Bank, Agricultural Bank of China and Bank of China, Petro China being 8th of this ranking.
On a global scale, it does not come as a surprise US companies represent over a quarter of the he firms listed (579) , followed followed by China (232) and Japan with 218 companies listed.
Banks and diversified financials groups also continue to dominate with 434 members; followed by oil and gas companies with 136 companies. Construction overtook utilities with 121 companies and became the third industry with more companies in this list.
Philippines public listed companies
As mentioned earlier, this year eight companies reached the Forbes top 2000 list. Within this list of companies that made it to the list, we can find holding firms, banks, telecommunication and electric utility companies:
- #911 – SM Investments – Market value: 16,7 B
- #1243 – Bank of the Philippine Islands (BPI) – Market Value: 9,1 B
- #1259 – Philippine Long Distance and Telephone Company (PLDT) – Market Value: 14,2 B
- #1297 – Metropolitan Bank & Trust (Metrobank) – Market Value: 7,1 B
- #1344 – Ayala Corporation – Market Value: 11,2 B
- #1525 – JG Summit Holdings – Market Value: 11,9 B
- # 1792 – Top Frontier Investment Holdings
- #1808 – Manila Electric Company (Meralco)
While an economy always needs big businesses, these companies have an excessive importance in the Philippine economy.
According to the Department of Trade and Industry, in the Philippines, of the almost 945,000 registered business enterprises in the Philippines , approximately 99.6% of these were micro, small and medium enterprises (MSMEs). However, those SMEs only account for 35 percent of national output!
Small and Medium companies should be primarily responsible for wealth and economic growth. If you would like to understand more about the Philippines and the benefits of opening a company in the Philippines, please contact one of our business consultants or business analysts.