JG Summit Proudly Makes it to Forbes Elite 50 Asian Companies

Gokongwei-led JG Summit Holdings Inc made it to the Forbes' ELITE list of 50 Asian companies. Strong financial results in the last half decade and positive economic outlook in the future were some of the basis for the inclusion.

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JG Summit lone Phl firm in Forbes' elite list

MANILA, Philippines - JG Summit is the only Filipino company that made it to Forbes list of 50 elite Asian companies with the best financial results in the last five years and strong outlook in the coming years.

Lance Gokongwei, JG Summit president, said “this singular honor will inspire the entire JG Summit team to work harder to continue delivering the highest quality products and services with the best value to our customers. This focus brought us to where we are and I expect to keep this momentum moving forward with both the domestic and regional markets as growth drivers.”

Forbes Asia’s Fabulous 50 listed only companies with revenues or market capitalization of at least $3 billion, turned in good returns in the past five years, and have a strong outlook in the next few years.

Companies that owe a lot and are at least partly owned by government were excluded from the list.

In the past 10 years, JG Summit sustained its growth in revenues (P44 billion in 2001 and ending 2010 with P122 billion); net income (from P2.3 billion to P16 billion); and stockholders’ equity (from P53 billion to P117.5 billion).

SOURCE: [Philippine Star]