Forbes Asia released the Fab 50 list of companies which includes three companies from the Philippines, such as fast food giant Jollibee Foods Corp., leading conglomerates Ayala Corp., and Alliance Global Inc. The Fabulous 50 List in Asia is celebrating its ninth year anniversary.
Photo Credit: Forbes Asia Website
The 2013 Asia’s Fab 50 were chosen from the 1,220 companies which had at least $3 Billion in annual revenue or market capitalization. According to Forbes Asia, they looked at each company’s track record for revenue, profits, return or capital and share-price movements, and then sized up the outlook, if it had too much debt or the government owned at least half of the shares, it was out in the list, Forbes Asia stated.
Based upon the top three list of Forbes Asia, Ayala Corp., is the country’s oldest conglomerate with businesses in real estate (Ayala Land), banking (BPI), telecommunications (Globe) and water (Manila Water). Ayala has an estimated market capitalization of $8.2 billion. The company ranked no. 6 in the elite list of Fabulous 50 List in Asia.
Jollibee Foods is considered as the Philippines top fast food chain, with a market capitalization of $4.2 billion as of August 2013. The company was founded by Tony Tan Caktiong, the company has several chains such as Jollibee, Chowking, Greenwich, Red Ribbon and Mang Inasal.
The Alliance Global Inc., the company led by tycoon Andrew Tan, has a market capitalization of $6.5 billion. The company’s business include real estate (Megaworld) food and beverage (Emperador) and quick service restaurants (McDonalds Philippines franchise).