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Tech businesses powering Asia-Pacific growth

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FINEX Folio -- By J. Albert Gamboa

FINEX Folio

London’s venerable Financial Times (FT) recently released its first-ever “FT 1000 High-Growth Companies Asia-Pacific” list — with 26 Filipino firms making the grade, all of which are listed on the Philippine Stock Exchange except for one.

The inaugural list covers 11 of the region’s more developed economies: Australia, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, Philippines, Singapore, South Korea, and Taiwan. Rankings were based on the percentage of revenue growth between 2013 and 2016.

Topping the FT 1000 are two firms from the fintech industry, Prospa of Australia and Pushpay of New Zealand, which had compounded annual growth rates (CAGR) of 445% and 408%, respectively.

Among the Filipino firms on the list, the top three with their respective ranks and CAGR are: ASpace Philippines (53rd place at 115.2%); DFNN, Inc. (193rd place at 49.3%); and PetroEnergy Resources Corp. (320th place at 34.8%).

Unlisted ASpace is a support services company that provides co-working spaces in Makati, Taguig, and Cebu. As the only Filipino core technology firm in the list, DFNN is recognized in both the fintech and gaming industries. PetroEnergy has a diversified business portfolio in oil exploration, renewable energy, and power generation.

Other Philippine-domiciled companies on the FT 1000 list are (in descending order, ranked between 394th and 996th places): Semirara Mining and Power Corp.; Alsons Consolidated Resources, Inc.; Leisure & Resorts World Corp.; Pryce Corp.; Cirtek Holdings Philippines Corp.; JG Summit Holdings, Inc.; Concepcion Industrial Corp; Megawide Construction Corp.; Puregold Price Club, Inc.; STI Education Systems Holdings, Inc.; Harbor Star Shipping Services, Inc.; Cebu Air, Inc.; Solid Group, Inc.; Century Pacific Food, Inc.; MacroAsia Corp.; SSI Group, Inc.; Jollibee Foods Corp.; Asian Terminals, Inc.; SPC Power Corp.; Crown Asia Chemicals Corp; Emperador, Inc.; Manila Broadcasting Co.; and Philippine H2O Ventures Corp.

From a pool of 14,000 companies that were chosen on criteria that they generated revenues of at least $100,000 in 2013 and at least $1 million in 2016, the top 1,000 fastest-growing firms were vetted by FT and compiled by its research partner Statista.

India had 271 companies on the list, followed by Japan with 190 and Australia with 115. In terms of most number of companies from a single city, Tokyo came out on top with 134, ahead of Mumbai’s 60 and Sydney’s 52.

Founded by two British publishing entrepreneurs in 1888, FT was acquired by Nikkei of Japan in 2015. It is best known for the “Footsie” or the FTSE 100, a share index of the 100 listed companies with the highest market capitalization on the London Stock Exchange.

The FT 1000 list demonstrates that technology businesses are leading the way in Asia-Pacific, ranging from e-commerce and financial services to health care and beyond. Overall, it shows that high-growth companies are powering the economies of the world’s fastest-growing region during the so-called Asian Century.

ANYTHING IS POSSIBLE
Philippine Azkals head coach Thomas Dooley will be the main speaker during the “Anything is Possible” forum today from 4:00 to 8:00 p.m. at the Asian Institute of Management (AIM) Conference Center in Makati City. The AIM motivational forum is organized by the Teen Azkals Foundation and is open to the public.

Mr. Dooley is still fresh from leading the national football team to qualify for the AFC Asian Cup 2019 to be staged in the United Arab Emirates. A former US international player, he has been the most successful coach of the Azkals since taking over the team in 2014.

 

J. Albert Gamboa is Chief Financial Officer of the Asian Center for Legal Excellence and serves as Co-Chairman of the FINEX Media Affairs Committee.