PLDT makes it to Businessweek’s list of top 50 public firms

Telecommunications giant Philippine Long Distance Telephone Co. (PLDT) made it among Asia’s top 50 publicly-listed companies, the only Philippine company in the list.

The list was compiled by BusinessWeek, a leading international business magazine, in its first annual ranking of such enterprises. PLDT was ranked 23rd in a roster dominated by regional energy giants such as Thailand’s PTT Plc (No.1), China’s PetroChina (No.2) and India’s Oil and Natural Gas (No. 3).

PLDT, however, was the highest ranking telecommunications service provider in "The Asian BW50". "Making the BW50 requires that companies prove their worth even in the face of economic uncertainty," said BusinessWeek in the cover story for its Oct. 24 issue. "They represent the very best in the fastest-growing region in the world."

The new BusinessWeek ranking was drawn from some 625 companies in the Standard & Poor’s /Citigroup/Pan Asia Index, which is made up of major companies listed on established regional exchanges.

The primary gauge of performance used in the ranking is growth of sales and earnings. Aside from compiling the figures for the latest available fiscal year, BusinessWeek considered the three-year growth in order to capture the performance of companies that have produced superior growth and profits over the long term.

The ranking also factored in return on equity, shareholder returns and other benchmarks. "Companies that made it into the top 50 did not all have stellar years, and some that had a banner earnings year did not rank among the top 50, which simply demonstrates that the rankings depict more than a single year of performance," BusinessWeek said.

"PLDT’s inclusion in BusinessWeek’s prestigious roster of Asia’s performing companies is a welcome recognition of our efforts over the past few years to strengthen the Group’s financial position and set PLDT on the path to future sustained growth," said PLDT chairman Manuel V. Pangilinan.

"We are greatly honored to be part of "The Asian BW50" representing a Filipino company that demonstrates how innovation can drive growth amidst a challenging market environment," added PLDT president and CEO Napoleon L. Nazareno.