BPI, China Bank and FMIC named among Asean's best firms

MANILA, Philippines - Eleven Philippine companies made it to the prestigious ASEAN 100 Relative Wealth Added (RWA) Index.

The index is a list of the 100 best-performing companies throughout Southeast Asia in terms of creating wealth for shareholders as determined by Stern Stewart & Co., a leading worldwide management and consulting firm based in New York.

Of the 11, three are financial institutions including the Bank of the Philippine Islands (BPI), China Banking Corp. (China Bank) and the First Metro Investment Corp. (FMIC).

The other Philippine companies are Aboitiz Equity Ventures Inc., Ayala Land Inc., International Container Terminal Services Inc., Jollibee Foods Corp., Manila Electric Co., Philippine Long Distance Telephone Co., SM Development Corp. and SM Prime Holdings Inc.

The RWA is a performance metrics developed by Stern Stewart & Co. to objectively measure how a company performed against a peer group by comparing the share price of a company over a chosen period against that of a defined group of peers, taking account of new share issues and levels of financial risk.