PhilWeb awarded at Forbes Asia's Best Under a Billion

MANILA, Philippines - PhilWeb Corp., the country’s first and largest listed online technology firm, has made it to Forbes Asia’s 2011 Best Under a Billion list, the magazine’s annual listing of the 200 best performing small- and medium-sized, publicly listed companies in Asia Pacific with sales under $1 billion.

Additionally, PhilWeb was one of only three companies to garner an additional special award, as the Most Profitable company among those that made the list. This is the second year in a row that PhilWeb has been recognized for both awards by Forbes Asia.

The awards were given out in a special ceremony at the Four Seasons Hotel in Hong Kong on Nov. 10. Dennis Valdes, president of PhilWeb, accepted the award on behalf of the company.

William Adamopoulos, president and publisher of Forbes Asia magazine, explained that the Best Under a Billion list starts off with an initial field of 15,000 companies across the Asia Pacific region. These companies are screened for earnings growth, sales growth and return on equity over the past three years, and only the top 200 make the final list.

In 2011, companies from China and India dominated the list, and less than two-thirds of these companies were on the list the previous year. Adamopoulos added that never before has a company gotten the Most Profitable Award for two years in a row. The complete list can be found at www.forbes.com/bub.