The Sy family-led conglomerate placed 1,029th globally, ahead of BDO Unibank, Top Frontier Investment Holdings, International Container Terminal Services, Metropolitan Bank & Trust Co., Ayala Corp. and Manila Electric Co.
“We are pleased to be recognized anew as the country’s top company on the Forbes Global 2000 list,” SM Investments president and CEO Frederic C. DyBuncio said in a statement on Thursday.
“This reflects the trust of our customers and investors, the work of our people, and the strength of the businesses we have built over the years. We continue to invest in the Philippines because we believe in the country’s future and long-term growth,” he added.
Conglomerates and banks dominate
SM Investments remained the country’s highest-ranked company as Philippine conglomerates and banks continued to account for most of the country’s representation in the global ranking.
Sy-led BDO Unibank followed at 1,082nd, while Ramon Ang-led Top Frontier Investment Holdings, the parent of San Miguel Corp., placed 1,170th.
Ports operator shines
International Container Terminal Services ranked 1,375th, making it the fourth-highest Philippine company on the list.
The Enrique Razon Jr.-led ports operator stood out with a market value of $26.34 billion, the highest among Philippine firms included in the ranking despite generating lower sales than several conglomerates and banks.
Global leaders
The Ty family's Metropolitan Bank & Trust Co. ranked 1,383rd, followed by the Zobel-backed Ayala Corp. at 1,532nd and Manuel V. Pangilinan-led Manila Electric Co. at 1,704th.
Globally, the top 10 companies in the Forbes Global 2000 were JPMorgan Chase, Amazon, Berkshire Hathaway, Alphabet, Saudi Aramco, Industrial and Commercial Bank of China, Bank of America, Microsoft, China Construction Bank and Agricultural Bank of China.
—Edited by Miguel R. Camus
