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Suntrust only Filipino firm in Forbes Asia’s ‘200 Best Under A Billion’ 2019

/ 07:48 PM July 11, 2019

MANILA, Philippines — Real estate developer Suntrust Home Developers was the sole Filipino company who made it to Forbes Asia’s “200 Best Under A Billion” this year.

Forbes released Thursday its list of 200 small and midsized enterprises in the Asia-Pacific region with sales under $1 billion and strong earnings growth.

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According to Forbes, Suntrust has a market cap of $31 million and has registered $11 million in sales as of July 2019.

Some 19,000 companies were screened based on “profitability, growth and modest indebtness” until it was narrowed down to 200, Forbes said.

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“The Best Under A Billion list demonstrates the dynamism of Asia’s small and medium-sized businesses in creating value across the region,” Forbes Asia editor Justin Doebele noted.

“Some of Asia’s biggest success stories, such as Alibaba, were formerly on the Best Under A Billion list,” he added.

However, the total market value of this year’s class fell to 10% to $228 billion compared to last year’s batch.

Forbes said this was because the “trade war between China and the United States dampened investor sentiment.” /kga

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