FINANCEASIA NAMES AYALA CORPORATION AS BEST MANAGED COMPANY IN THE PHILIPPINES
Ayala Corporation and its subsidiaries garnered high ratings in the Asia's Best Companies 2003 survey conducted by FinanceAsia.
The Hong Kong-based magazine polled institutional investors and equity analysts from around the globe to rank the performance of top companies in 10 countries in Asia. They were asked to rate companies in each country according to various categories, notably: Best Managed Company, Investor Relations, Commitment to Shareholder Value, Corporate Governance, and Financial Management.
Ayala Corporation, the country's leading conglomerate, was named Best Managed Company in the Philippines. The company earned the top spot in two other categories: Best Corporate Governance and Best Financial Management.
The Ayala companies also figured prominently in the survey. Globe Telecom placed second in Best Managed Company, Best Corporate Governance, and Best Financial Management. Globe Telecom's Delfin Gonzales was named Best Chief Financial Officer for the second year in a row.
Ayala Land, Inc. and the Bank of the Philippine Islands were also cited in the top 10 leading companies across all categories. Other companies that were recognized are San Miguel Corporation, SM Prime, Jollibee Foods Corporation, PLDT, Union Bank, Smart, Meralco, Alaska Milk, Metrobank, JG Summit, Petron Corporation, and Universal Robina. These companies approximate 61 percent of the country's total market capitalization.
The full results of the Asia's Best Companies 2003 survey will be revealed in the April issue of FinanceAsia.