Forbes names ICTSI among best 200 firms

By Roderick T. dela Cruz

Forbes Asia magazine has listed Philippine port operator International Container Terminal Services Inc. as among Asia-Pacific's top 200 companies with less than $1 billion in annual sales.

In the 2007 Best Under a Billion list set to come out on the Oct. 1 issue of the magazine, ICTSI was only the Philippine company included in the prestigious list, selected from over 22,500 listed firms in the region.

The companies, according to the magazine, were selected based on consistent growth in both sales and profits over three years and the sustainability of such growth. Excluded were subsidiaries and state-controlled corporations.

The recent accolade is the fourth for ICTSI from Forbes. The company was included in the magazine's list of Best Small Companies in 1997 and 1998, and in its Best Under a Billion list in 2003.

About 80 percent of companies on the 2007 list made their first appearance this year, while returning outfits showed that clear vision and strong management can adapt and persevere in a region of constant change, the magazine said.

Taiwan topped the list, with 41 entries while China took second place with 23 entries. Japan had 22 entries; Hong Kong, 22; South Korea, 21; Singapore, 20; India, 17; Australia, 12; Malaysia, 9; Thailand, 5; New Zealand, 4; Pakistan, 2; the Philippines, 1; and Sri Lanka, 1.

ICTSI said the Forbes list was the third citation for the company this year. In April, the company was given honorable mention for Corporate Governance by Hong Kong-based Asset magazine in its annual Corporate Governance Rankings.

In June, ICTSI was named by another Hong Kong-based publication, Finance Asia magazine, as Best MidCap Company in Asia, because of the company's commitment to a strong dividend policy.

Headquartered in the Philippines, ICTSI has an experience record that spans container terminal operation in six continents.