Four PH firms included in Forbes Asia’s ‘Best Under a Billion’ 2023 List

Four Philippine firms were listed on Forbes Asia’s “Best Under A Billion” List this year, which recognizes 200 public companies in the Asia-Pacific with annual sales of at least $10 million but below $1 billion.

According to Forbes, the firms were chosen from over 20,000 public companies based on a composite score that covered their overall track record such as sales and earnings-per-share growth.

The measures came from the most recent fiscal one-year and three-year periods and the strongest one-year and five-year average returns on equity.

The list includes real estate firm Cityland Development Corp., which acquires and develops land sites for residential, office, commercial, institutional, and industrial uses.

The company’s portfolio includes medium to high-rise offices, commercial buildings, and residential condominiums in Makati, Mandaluyong, Manila, Pasig, and Quezon City.

It also has residential subdivisions and farm lots in Parañaque City, Bulacan, and Cavite.

Its subsidiaries are City & Land Developers Inc. and Cityplans Inc. (CPI), which operates, markets, and sells pension plans.

Also listed is D&L Industries Inc., a holding company with interests in manufacturing chemicals and specialty food ingredients, and management and administrative services.

Its principal businesses are grouped into four main business lines — food ingredients; colorants and plastics additives; oleochemicals, resins, and powder coating; and consumer products original design manufacturing.

Its wholly-owned subsidiaries include First in Colours Inc., Aero-Pack Industries Inc., Oleo-Fats Inc., and Chemrez Technologies Inc.

Part of the list is Tantoco-led specialty retailer SSI Group Inc., which manages and retails international brands in the Philippines.

Its brand portfolio is classified into five categories — luxury and bridge; casual; fast fashion; footwear, accessories, and luggage; and others including home furnishings and accessories.

The company carries the brands Hermes, Gucci, Salvatore Ferragamo, Zara, Bershka, Stradivarius, Old Navy, Lacoste, GAP, TWG, SaladStop!, Samsonite, Payless ShoeSource, Muji, and Pottery Barn.

Home improvement and construction supplies retailer Wilcon Depot Inc. was likewise included in the list. Formerly Wilcon Builders Depot Inc., the company officially started operations in April 2016 when retail operations were transferred from its parent firm Wilcon Corp.

The company, through its two retail formats — Wilcon Depot, and Wilcon Home Essentials — offers local and internal brands of tiles and flooring, plumbing and sanitary wares, electrical and lighting products, hardware and tools, furniture, furnishings and houseware, paints, appliances, and building materials.

“Companies on this year’s list outperformed despite stiff global headwinds like inflation and rising funding costs. The standouts are concentrated in chipmaking and related industries,” Forbes said.

For its methodology, Forbes said it also used qualitative screens as it excluded firms with “serious governance issues, questionable accounting, environmental concerns, management issues, or legal troubles.”

It did not take into consideration state-controlled corporations and subsidiaries of larger companies. —VAL, GMA Integrated News