MANILA, Philippines - Citi Philippines joined some of the country’s leading corporations at the first “Rising Stars of the Philippines†forum hosted by regional publications FinanceAsia and Asian Investor. The event, which drew over 270 investors, asset managers, and corporates, showcased investment opportunities in the fastest growing companies and industries in the Philippines today.
Batara Sianturi, CEO of Citi Philippines, led a panel discussion on Emerging Global Champions, or local companies that are competitively positioning in the global marketplace.
“Globalization has led to the rise of a new breed of aspirational corporate titans across Asia, now known as the Emerging Champions. Fuelling this rise has been a combination of dramatic economic growth and increased trade,†related Sianturi.
Batara pointed out that Asia provides an ideal home for these companies, as the region’s share of the world economy has doubled to 27 percent in the last 20 years. “By the middle of this century, we expect Asia, led by China and India, to account for close to half of the world’s Gross Domestic Product (GDP). In many ways, globalization is just beginning,†added Sianturi.
Joining Batara in the panel were Rafael Consing, vice president for finance and treasurer of International Container Terminal Services, Inc.; Aldrin Cerrado, chief financial officer (CFO) of ABS-CBN; and Jose Sio, executive vice president and CFO of SM Investments.
The panelists shared an optimistic outlook for the Philippine economy and identified key factors to the growth of their respective businesses. Cerrado emphasized that ABS-CBN’s business continues to grow largely due to the confidence of consumers as well as offshore investors.
Consing said ICTSI is prepared to take advantage of these pockets of growth by focusing on structuring its capital investment and managing its risks. Sio, on the other hand, shared SM Investments’ strategy for maintaining its competitive advantage: Invest in the Philippines first and make sure you’re good at what you’re doing before you venture outside.
“The Philippines, now rated investment grade by Fitch Ratings, Standard & Poor and Moody’s Investor Service, is also home to a list of world class companies who are increasingly making their mark on the world.
The country is still in an economic sweet spot and the robust Philippine economic fundamentals are widely accepted. With Citi’s GDP growth forecast of 7.3 percent for 2013 and 6.9 percent in 2014, we can expect to see more corporate titans emerging from this country,†concluded Sianturi.