Nation, News, Poverty

Look back of 2013 top Pinoy billionaires and companies

Cbanga360.Net - The Bicol Street Journal

Published         1 Jan , 2014      8:55 am          423 views.

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Here’s a look back on the list of Filipinos who made it in Forbes world’s richest billionaires in 2013, four of them, listed in top 500.

RankNameNet WorthAgeSource
68Henry Sy & family$13.2 B89diversified
248Lucio Tan & fmaily$5.2 B79diversified
258Enrique Razon, Jr.$4.9 B53ports
345Andrew Tan$3.95 B61diversified
503David Consunji & family$2.8 B92construction
554George Ty & family$2.6 B81banking
736Lucio and Susan Co$2 Bretailing
931Robert Coyiuto, Jr.$1.6B60power
1031Tony Tan Caktiong & family$1.4 B60fast food
1175Andrew Gotianun family$1.2 B86real estate
1175Roberto Ongpin$1.2B76diversified

These Pinoy companies joined the ranks of Forbes’ Global 2000 Leading Companies in 2013:

RankCompanySalesProfitsAssetsMarket Value
694San Miguel$16.6 B$0.7 B$25.1 B$7 B
915SM Investments$5.3 B$0.6 B$13.6 B$16.6 B
1060PLDT$4 B$0.9 B$9.9 B$15.1 B
1142BPI$1.4 B$0.4 B$23.9 B$9.1 B
1308MERALCO$6.8 B$0.4 B$5.3 B$9.2 B
1642Aboitiz EquityVentures$1.6 B$0.5 B$4.6 B$7.8 B
1666Metroppolitan Bank & Trust$1.5 B$0.3 B$21.7 B$6 B
1784Ayala$2.5 B$0.3 B$11.9 B$8.2 B

In sharp contrast to the billionaires, the National Statistical Coordination Board, released its latest bleak report based on the 2012 full year poverty statistics of the country. The report estimates poverty incidence or the proportion of poor families to the total number of families.

The report states that about one out of every five Pinoy families (19.7 percent) was poor in 2012, with the estimated number of poor families has risen from 3.8 million in 2006 to 4.2 million in 2012.

The NSCB report points out that in 2012, a Filipino family of five needed PhP 5,513 to meet basic food needs every month and Php 7,890 to stay above the poverty threshold (basic food and non-food needs) every month. These respective amounts represent the food and poverty thresholds, which increased by 12.4 percent from 2009 to 2012.

In 2012, on the average, incomes of poor families are short by 26.2 percent of the poverty threshold. This means that a poor family with five members needed a monthly additional income of PhP 2,067 to move out of poverty in 2012.

While many appreciate the result of the study, it makes one wonder if it has taken into account the monthly household cost of electricity and water. These factors alone will debunk the result, and put more families below the threshold of poverty level. Just thinking aloud here.

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