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Business

3 Philippine firms land in Forbes list of Best Under A Billion in Asia

Iris Gonzales - The Philippine Star

MANILA, Philippines — Three listed Philippine companies made it to Forbes Asia’s 2022 Best Under A Billion list.

These are COL Financial Group, Crown Asia Chemicals and Eagle Cement.

The list recognizes 200 top-performing publicly listed small and midsized companies in the Asia-Pacific region with sales under $1 billion.

“As COVID-19 restrictions ease across the Asia Pacific and people adapt to the new normal, this year’s annual Best Under A Billion list highlights the shift to discretionary spending. The post-pandemic return to daily life has benefitted apparel makers, mall operators, restaurants, consumer electronics and entertainment companies, among others,” Forbes said.

“This year’s Best Under A Billion list sees 200 companies selected from a universe of 20,000 publicly traded companies in the Asia Pacific region with annual sales above $10 million and below $1 billion. Of note, the list features companies from across the region, spanning industries such as semiconductors, software and services, pharmaceuticals, healthcare and manufacturing,” Forbes said.

COL Financial, an online brokerage company, posted an annual revenue of $27 million. Daiwa Securities acquired a 15 percent stake in 2017.

Crown Asia Chemicals, owned by the Villanueva family, manufactures plastic and synthetic resin products such as compounds, pipes and roofing. The company was founded in 1989 and is headquartered in Guiguinto, Bulacan. It has a listed revenue of $35 million in the latest Forbes report. This is the second time Crown Asia made it to the list.

Eagle Cement, the cement company of the Ang family, registered $434 million in revenues. Eagle Cement produces and markets cement under the Eagle Cement Advance and Strongcem brands. This is the first time that Eagle Cement made it to the list.

In the latest list, 75 companies returned to the roster, “reflecting their resiliency in a fast-changing environment.

“Notably, Taiwan’s Aspeed Technology has made Best Under A Billion for nine consecutive years,” Forbes said.

FORBES ASIA

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