MANILA, Philippines - Telecommunications leader Philippine Long Distance Telephone Co. (PLDT) tops the short list of Philippine companies in Forbes Magazine’s latest roster of the top 2,000 companies in the world.
Only three companies in the Philippines made it into the top 2,000 which was released in the May 2010 issue of Forbes Asia Magazine: PLDT (ranked No. 1,080), San Miguel (No. 1,566) and SM Investments (No. 1,707). PLDT also topped the short list of Philippine companies in last year’s list, where it ranked No. 1,138.
One of the world’s leading business magazines, Forbes used several metrics that combined sales, profits, assets and market value in order to rank companies worldwide and to come up with its Global 2000 list.
According to Forbes, this approach makes possible a more thorough and holistic assessment of companies.
“This year’s list reveals the dynamism of global business. The rankings span 62 countries, with the US (515 members) and Japan (210 members) still dominating the list, but with a combined 33 fewer entries,” according to Forbes.com, the magazine’s website.
PLDT chairman Manuel V. Pangilinan said PLDT’s ranking in this global list “reflects the commitment of its shareholders and the dedication of its management and staff to world-class excellence.”
“This recognition highlights our efforts to transform PLDT into a communications and multimedia company,” added PLDT president and CEO Napoleon L. Nazareno.Recently, PLDT was chosen “Best in Investor Relations” and “Most Committed to Strong Dividend Policy” for the second consecutive years in the annual survey conducted by FinanceAsia magazine, a leading finance publication in Asia.