Philippine Politics has been listed as second most profitable business in Asia, beating giant companies like Toyota Motors, Samsung, Keppel, and even its own San Miguel and Ayala Corporation according to a study published by Money Magazine in 2014.
The 3-year study conducted by Asian Development Bank (ADB) and Business Insiders, said 21% of Philippines’ annual budget ($10.5B) goes to politicians’ pockets every year excluding bribes from private companies and charity donations.
The Philippines owes ADB billions of dollars.
The following is the list of top 10 most profitable Asian companies with Philippine Politics taking the second spot:
1. Tata Consultancy Services (India) $13.15B
2. Philippine Politics (Philippines) $10.5B or 21% of the country’s budget
3. Tencent Holdings (China) $9.8B
4. Baidu (China) $7.8B
5. Galaxy Entertainment (Hong Kong) $6.48B
6. HDFC Bank Limited (India) $5.6B
7. Sun Pharma Industries (India) $4.15B
8. Naver (South Korea) $3.05B
9. Tata Motors (India) $3.01B
10. Avago Technologies (Singapore) $2.98B
San Miguel Corporation with a net income of $658M is listed at number 19, while Ayala Corporation is listed at number 26 with $349M net profit.
“If Philippine Politics can only be listed as a public corporation, more investors will pour their money to one of the most profitable businesses in Asia”, Kurt LaVine, editor of Money Magazine said.
Politicians are also making most money during natural calamities where foreign donations pour. Assessment of Typhoon Haiyan (Yolanda) reveals that the Philippine Government received 35% more donations than it needed, however, victims have yet to receive the said aid.
The report said some non-monetary aids are seen sold in public places by unidentified groups believed to be associated with some high-profile government officials.
“Philippine Politics is a high risk but extremely high return investment. A politician who runs for mayor in a small town can spend 50 million pesos during election but when he wins, he can make more than 10 times times of that amount during the course of his 3-year term. No real business could promise 1000% return in 3 years except Philippine Politics”, the report said.
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