Gokongwei-led JG Summit only PH firm in Forbes’ Fabulous 50


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China leads the list with 23 listed companies in the Fab 50

Gokongwei-led JG Summit among Forbes Asia's Fab 50.

MANILA, Philippines – Only one Philippine company made it to Forbes’ magazine’s “Fabulous 50” list of publicly traded companies in Asia-Pacific.

Gokongwei-led conglomerate JG Summit Holdings Inc. was among the 2012 Fab 50 list, which “separates the merely good companies from the truly great ones.”

With sales of $2.8 billion and market value of $5.4 billion, JG Summit makes it to the list for the second time since it debuted in 2011.

“Its expected earnings-per-share growth of nearly 50% next year is the highest of the (Fab) 50.  Market cap grew by 38% over past 12 months,” Forbes Asia said.

JG Summit has interests in budget airline Cebu Pacific. Led by tycoon John Gokongwei Jr and his family members, JG Summit, now led by brother James Go, was initially engaged in trading, eventually expanding into food manufacturing, mall operations, petrochemical, banking, and real estate.

The Fab 50 included companies from the following countries:

  • China – 23 companies
  • India – 11
  • South Korea – 4
  • Australia – 2
  • Hong Kong – 2
  • Taiwan – 2
  • Thailand -2
  • Japan -1
  • Malaysia –
  • Philippines – 1
  • Singapore – 1

Forbes chose the top 50 among 1,295 companies that had at least $3 billion in annual revenue or market cap, taking into account the listed firms’ revenues, earnings, return on capital, share-price movements and outlook.

“If one had too much debt or the government owned at least half the shares, it was out. We also don’t consider local offshoots that are majority-owned by a multinational (Nestlé India, for example). The result is the region’s best of the best,” explained Forbes Asia. – Rappler.com

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