8 Philippine companies make it to Forbes' list of top global firms

The listed holding company of the country's richest man is the top-ranking Philippine firm in Forbes' list of the world's biggest public corporations.

SM Investments Corporation, which earns its keep from banking, property and retail, landed in the top 1,000 at 911th place among the world's top 2,000 publicly-listed firms. Joining SM were two Ayala-owned firms (BPI and Ayala Corporation), two companies chaired by businessman Manuel V. Pangilinan (PLDT and Meralco), George Ty-owned Metrobank, John Gokongwei's JG Summit and Top Frontier Investment Holdings Inc, which is owned by San Miguel Corporation.

Here are the screen grabs of Forbes' profiles on the eight companies:









- Interaksyon

BPI takes on Japanese partner for leasing business

Bank of the Philippine Islands (BPI) has taken on a Japanese partner to grow its leasing business.

The joint venture, which will be created by Century Tokyo Leasing Corp (CTL) acquiring 49 percent of the shares of BPI Leasing Corp, will be named BPI Century Tokyo Lease & Finance Corp.

“The creation of this joint venture recognizes our success in the Philippine market and its potential for further growth. BPI has a strong track record of partnerships with international financial institutions, like our BPI-Mitsui Sumitomo Insurance partnership for non-life insurance and BPI-Philam for life insurance,” Cezar P. Consing, BPI president and chief executive said.

“We are taking a strong business and making it stronger,” he added.

“We are very pleased to partner with such a well-established and proven company such as BPI on this investment in the Philippines," Shunichi Asada, CTL president and chief executive said.
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"Finding a reliable and recognized Philippine partner will help us serve the Filipino consumers and help realize the potential of the market. I am especially optimistic about the relationship this joint venture enables within CTL’s international business," Asada added.

The joint venture will combine CTL’s resources and expertise with BPI’s proven record of growth and success in the Philippines.

The strategic partnership is taking place at a time of consumer-led growth in the Philippine market. Both companies said their respective clienteles complement each other from "both geographical and sectoral points of view."

The joint venture plans to implement innovations, reach new customers and enhance services to BPI Leasing’s valued customers.

The Ayala-led bank reported a net income of P8.03 billion in the January to June period, down by a third from P12 billion in the same period last year.

Net interest income rose 15 percent year-on-year in the first half as the bank sustained growth in its core business. Net loans jumped 23 percent to P697 billion, while total deposits climbed 30 percent to P1.072 billion, exceeding the P1-trillion mark for the first time.

Despite the drop in earnings, BPI is keeping its full-year profit guidance of P20.21 billion, as the lender sees improved earnings quarter-on-quarter for the rest of the year even amid a rising interest rate environment.

- Interaksyon

Ayala net income up 22 pct, as one-time gain offsets BPI weakness

The Philippines' oldest conglomerate registered higher earnings in the first quarter of the year driven by its core businesses and extraordinary gains, offsetting the weakness of its banking unit.

In a disclosure to the Philippine Stock Exchange, Ayala Corp (AC) said its net income climbed 22 percent to P5.5 billion in the January to March period from P4.5 billion in the same three months of 2013.

AC attributed the growth to the favorable performance of its real estate, telecommunication, water and international businesses as well as a P1.8-billion capital gain from the sale of Stream Global Services Inc, one of its investee companies, under the conglomerate's business process outsourcing (BPO) unit.

The Ayala group's profit would have increased by 24 percent year-on-year without the capital gains during the period, the impact of Bank of the Philippine Island's exceptional trading gains of P5.7 billion and Globe Telecom’s accelerated depreciation last year.

“We are glad to see the strong momentum continue across our core businesses as well as the improving profitability of our international businesses,” said AC president and chief operating officer Fernando Zobel de Ayala.

“We are confident this momentum will continue for the rest of the year as the fundamental drivers of domestic economy remain firmly in place. This will continue to underpin demand for our real estate products, banking, telecom and water services," he said.

Most of Ayala’s core businesses posted a double-digit expansion in earnings year-on-year in the first quarter. Their contribution to the conglomerate’s equity earnings jumped by a fifth year-on-year to P6.9 billion at end-March.

 

- Interaksyon