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Wednesday, December 15, 2004
SEC names top real estate firms
AYALA Land Inc. (ALI) was the top corporation in the Philippines in terms of real estate activities last year.
According to the 2004 edition of the Philippines 5000, the listing of top 5,000 corporations in the country by the Securities and Exchange Commission (SEC), ALI made P8.78 billion in sales last year, relegating rival SM Prime Holdings Inc. to the number two spot with its P8.14 billion in sales.
However, SM Prime had the last laugh because its P4.18 billion in profit was significantly larger than ALI’s P2.71 billion in the same period.
The SEC listed the other real estate firms in the top 10 as Golden Arches Development Corp., with P5.80 billion in sales; Megaworld Corp. with P2.84 billion; Rockwell Land Corp. (P2.33 billion); Laguna Properties Holdings Inc.
(P1.98 billion), First Asia Realty Development Corp. (P1.74 billion), Empire East Land Holdings Inc. (P1.68 billion), Filinvest Land Inc. (P1.61 billion) and Mermac Inc. (P1.59 billion).
Both Ayala Land Inc. and Laguna Properties Holdings Inc. are part of the Ayala group of companies.
Golden Arches Development Corp. is the master franchisee of McDonald’s in the Philippines.
Aboitiz Construction Group Inc. made it to the 11th spot with P1.34 billion in sales. Cebu Southland Commercial Complex Inc. was in 20th place with P691.29 million in sales.
Profits
In terms of profitability, the most profitable after SM Prime and Ayala Land were Mermac Inc. with P1.57 billion in profit and Philippine Hydropower Corp. (P739 million), although the latter ranked only 19th in sales.
Golden Arches suffered P23.96 million in losses.
In the construction industry, leading in sales was Subic Bay Fuels Co. Inc. with P11.62 billion.
The rest of those in the top 10 were Hanjin Heavy Industries & Construction Co. Ltd. with P2.85 billion in sales, Makati Development Corp. (P2.59 billion), Alstom Philippines Inc. (P2.50 billion), Luzon Hydro Corp. (P2.38 billion), EEI Corp. (P2.28 billion), D.M. Consunji Inc. (P1.92 billion), Impsa Construction Corp. (P1.67 billion), Leighton Contractors (Phils.) Inc. (P1.67 billion) and F.F. Cruz & Co. Inc. (P1.45 billion).
The most profitable among these firms was Aboitiz subsidiary Luzon Hydro Corp., which made P1.46 billion in profits. (CTL)
(December 15, 2004 issue)
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