PH politics is 2nd most profitable business in Asia during Aquino admin, finance magazine says

Singapore | “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 AsiaPac Money Magazine said.

From 2013 to 2016, Philippine politics was 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.

The list is the result of 3-year study consolidated by both Asian Development Bank (in which Philippines owed\s billions of dollars), and Business Insiders. The report said 21% of Philippines’ annual budget ($10.5B) goes to politicians’ pockets every year excluding bribes from private companies and charity donations.

The following is the lists of top 10 most profitable Asian companies with Philippine Politics at the second spot.

Tata Consultancy Services (India) $13.15B
Philippine Politics (Philippines) $10.5B or 21% of the country’s 2014 budget
Tencent Holdings (China) $9.8B
Baidu (China) $7.8B
Galaxy Entertainment (Hong Kong) $6.48B
HDFC Bank Limited (India) $5.6B
Sun Pharma Industries (India) $4.15B
Naver (South Korea) $3.05B
Tata Motors (India) $3.01
Avago Technologies (Singapore) $2.98

The mighty 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.

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.

“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.

In related news, the International Committee on the Red Cross (ICRC), and United Nations High Commissioner for Refugees (UNHR), are planning to send independent bodies to investigate the case of Yolanda, and to oversee proper distribution of aid, especially those donated by other countries.

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. /Cathy Jones/

Note: Please read our About Us page if you have any confusion