MANILA - Three Philippine-based firms made it to the list of Forbes Asia’s “Best Under a Billion List” which recognizes 200 top-performing small and midsized listed companies in the Asia-Pacific region that have sales under $1 billion.
Filipino firms Asia United Bank, Crown Asia Chemicals, and Vivant were included in the list of top 200 firms after selecting from around 18,000 companies in the region based on track record for debt, sales and earnings-per-share growth and other criteria, Forbes said.
“Companies on the list have scored above their peers in a composite selection that incorporates their track record for debt, sales and earnings-per-share growth, measured over both the most recent one- and three-year fiscal periods, as well as their one- and five-year average returns on equity,” Forbes said.
Asia United Bank Corp is a commercial bank that was founded in October 1997 and is headquartered in Pasig City, Philippines. It has a market capitalization of $461 million, with sales of $319 million.
Crown Asia Chemicals Corp manufactures plastic and synthetic resins and compounds for industrial use. The company was founded in February 1989 and is headquartered in Quezon City, Philippines. It has a market cap of $24 million, with sales of $28 million.
Vivant, meanwhile, is a power firm founded in May 1990 with headquarters in Cebu. It has a market cap of $279 million, with sales of $70 million.
The performance of the firms on the list, however, is based on the latest available full-year annual results as of July 7, 2020, and so does not fully reflect the impact from the global pandemic-led recession, Forbes said.