SMC tops list of leading PH corporations anew
THE ERA OF SUSTAINABILITY The Manila Times 500 and the Next 500 magazine will be available starting June 30, 2024. IMAGE BY RAYMON MARANGA
SAN Miguel Corp. (SMC) has once again topped the list of the Philippines' largest conglomerates and corporations in The Manila Times 500 and the Next 500, which will be on sale beginning June 30.
SMC has maintained its position as the total revenue leader. Together with its subsidiaries, it has notched a year-on-year revenue increase of 60.07 percent, reaching an impressive P1.057 trillion.
On second spot is Top Frontier Investment Holdings Inc., the largest shareholder of SMC. Both SMC and Top Frontier Investment Holdings Inc. are notable for being the sole conglomerates on the list to hit the P1 trillion revenue mark in 2022.
SMC, however, has also seen a decline in net income due to its massive investments in infrastructure development. The projects include the construction of the New Manila International Airport in Bulacan and the rehabilitation and upgrade of the Ninoy Aquino International Airport.
SMC is also among the top corporations with heavy investments in sustainability projects, particularly in energy.
Over 1,000 megawatts of battery energy storage systems across 32 sites in the country are in the pipeline. SMC is spearheading this effort, making it the largest renewable energy project led by a single company in the Philippines.
It also intends to expand its renewable energy portfolio by going into solar and onshore wind power.
The Manila Times 500 and the Next 500 magazine will be available in National Book Stores nationwide on June 30, 2024. For direct orders, email [email protected].