Engineering and construction innovator Megawide Construction Corporation (Megawide or the Company) was named as one of Asia’s Most Outstanding Companies in Asiamoney’s recently concluded Outstanding Companies Poll for 2021. Megawide was voted the Most Outstanding Company in the Philippines for the Construction and Engineering Sector.
Over 1,071 fund managers, analysts, bankers and ratings agencies participated in the survey, which ran from May 24 to July 16, 2021. The winners of each category are decided by the number of verified votes each company received, subject to a minimum vote count. In total, over 5,787 votes were cast for publiclylisted companies across 13 markets in Asia.
The results recognize 191 companies as being the most outstanding for their sectors and in their market.
Asiamoney designed the poll to “acknowledge listed companies that have excelled in areas such as financial performance, management team excellence, investor relation activities and corporate social responsibility (CSR) initiatives.”
“Being named as the Most Outstanding Company in the Philippines for the Construction and Engineering Sector for 2021 is a humbling achievement that encourages us to relentlessly pursue our vision of Engineering a First World Philippines,” Megawide Chairman Edgar Saavedra said.
This is not the first time that Megawide won in the Asiamoney Polls. In 2013 and 2014, Megawide was voted as the Best Managed Company in the Philippines for the Small Cap category.
According to Asiamoney Editor, Rashmi Kumar, Megawide was a clear frontrunner in the poll given its track record of being a resilient organization even during crises.
“It comes as little surprise that Megawide Construction was voted as the Philippines’ most outstanding company in the construction and engineering sector in Asiamoney’s 2021 poll after all the conglomerate has the reputation of being one of the most progressive infrastructure companies in the country with a portfolio spanning engineering, procurement, airport infrastructure,” Kumar said.
Saavedra established Megawide in 1997, a year after graduating from college. From a mid-size construction company, Megawide has diversified its business to become a leading engineering and infrastructure innovator.
Megawide is strengthening its portfolio of businesses and is now eyeing to win more infrastructure deals such as the Metro Manila Subway and the North-South Commuter Rail-South Line.
“We believe that infrastructure will help the economy recoup from the adverse effects of the pandemic. As a strong government partner, Megawide strives to support economic growth through infrastructure development and job creation,” Saavedra said.
Megawide has participated in over P100 billion government infrastructure projects spanning airports, classrooms, transport exchanges and railway systems, and secured awards for big ticket projects such as the Mactan-Cebu International Airport, construction of the Clark International Airport, the Paranaque Integrated Terminal Exchange, and the Public-Private Partnership for School Infrastructure Project. It is also a consortium member in the construction of the Malolos-Clark Railway Project Package 1.
