FinanceAsia cites Filinvest as best mid-cap firm

MANILA, Philippines - Filinvest Land, Inc. (FLI), the real estate subsidiary of Filinvest Development Corp. (FDC) earned the distinction as the Best Performing Company in Asia under the Mid-Cap category, according to the recently concluded 14th “Asia’s Best Companies” polls conducted by FinanceAsia.

The annual polls aim to determine the best-performing companies in the region from the perspective of investors and analysts. Polling was conducted over one month and included Hong Kong, Mainland China, Taiwan, Indonesia, the Philippines, Thailand, India, Singapore, South Korea, and Malaysia.

FLI joins the ranks of some of the region’s powerhouse companies, such as Hongkong’s Fortune REIT, Singapore’s CapitaRetail China Trust, and Malaysia’s Hartalega Holdings.

“Filinvest Land, Inc. is honored to be recognized as one of the top companies in Asia. Accolades like these inspire us even more to remain steadfast in our commitment to build the Filipino dream. We will continue to keep up with global standards and innovate to better respond to the needs of the Filipino family,” FLI president and CEO Josephine Gotianun Yap said in an issued statement.

FLI is one of the country’s leading real estate developers, with almost 50 years of experience under its belt.  As of the end 2013, the company reported a 14-percent net income growth to P4 billion.  Total Ebitda grew 15 percent year-on-year to P5 billion.

Real estate revenues came from the core of affordable and middle income segments, accounting for 92 percent of 2013 sales with the contribution of mid-rise and high rise projects led by the Oasis brand, the Levels and Studio Zen.