An unexpected economic about-turn and what lies ahead is full of uncertainty
By Maureen Maratita and Morgan Legel
Guam Business Magazine presents the Deloitte & Touche ASC Trust list of Top Companies conducting business in Micronesia — including Guam, the Northern Mariana Islands, the Marshall Islands, and the Federated States of Micronesia — for the 28th year. Companies with more than $1 million in revenues were invited to participate in the annual poll, with 31 companies accepting their invites and sharing their successes and with Guam Business.
Part of the Top Companies feature includes results from an online, anonymous economic confidence survey that captures a snapshot of the participating companies’ bottom lines and finances, staffing trends and expectations for the coming year, with COVID in the picture.
Of this year’s companies, 70.9% of them indicated they experienced revenue growth from the previous year, right in-line with the 2019 list’s results of 70.1%. Staffing for 38.7% of businesses increased as well, logging staffing numbers higher than last year; 16.1% of companies kept the same amount of staff from the previous years.
This year the construction industry remains the bright spot with millions in construction for the military realignment awarded or ahead, though labor shortages are again one of the challenges. Federal funding has eased the pandemic for governments and businesses alike. Retail, restaurants and hospitality, and tourism face a long road to recovery, as do businesses that support those industries. New ideas and economic initiatives have yet to bear fruit.
The confidence survey does not reflect the increases in revenue because it is a forward-looking survey. The information is from 2019, but the survey reflects the present. Note that some companies in this list reported figures for fiscal years that go into 2020.
To get this far through COVID-19, 76.92% of companies relied on their own financial resources, while 38.46% relied on federal loans and 7.69% relied on local government loans.
Therefore 46.15% of executives that participated in the survey said that their company’s bottom line is much worse than the previous year’s. Only 15.38% of the executives said the bottom line was much better than last year.
Answers about bottom lines took into account the effects of COVID-19 on the businesses, which will be seen in next year’s list.
The companies from the 2019 list expected their net revenue to be much better or somewhat better this year — 37.5% and 50%, respectively. Their expectations were not met.
But businesses are hopeful. In the survey, 61.54% of executives said their bottom line would be much better or somewhat better next year.
One executive says, “It is very unpredictable at the moment; however, we don’t foresee it will return to normal condition prior to COVID-19.”
Another says, “We are fortunate that COVID-19 has not significantly impacted our operations and has created new opportunities for our products and services. We are making lots of ‘lemonade.’”.
Read on to see the full rankings of top companies in the region, responses from company leaders on what they learned from the Coronavirus pandemic, and economic assessments by Joe M. Arnett of Deloitte & Touche LLP and David J. John of ASC Trust LLC.
Guam Business looks forward to welcoming again companies on the list next year from all industries.
Survey answers for Guam Business Magazine’s
|Compared to last year, my company’s bottom line is…|
|About the same||15.38%|
|One year from now, I expect my company’s bottom line to be…|
|About the same||15.38%|
Deloitte & Touche ASC Trust Corp.
2020 Top Companies in Micronesia
|Company and chief
|Year founded||Parent company, lines of business,
subsidiaries and DBAs
|1||2||Mobil Oil Guam Inc.
Jimmy T.C. Hau, president; Leo Manlapaz, secretary; Juliet Milan, secretary
|$534.63||$427.92||73||67||Mobil Oil Guam Inc. 1950; Mobil Oil Micronesia Inc. 1966; Mobil Oil Mariana Islands Inc. 1985||ExxonMobil Corp. Mobil Oil Guam Inc., Mobil Oil Mariana Islands Inc. and Mobil Oil Micronesia Inc. do business in Guam, the NMI and the Marshall Islands and also supply fuel to Palau and the FSM. The company operates 20 stations in Guam, 11 in Saipan, two in Rota, one in Tinian and six in Majuro. Mobil affiliates serve retail, industrial, wholesale, aviation, marine and government customers. Headquarters: Mobil Oil Guam Inc., Hagåtña; Mobil Oil Micronesia Inc., Majuro and the Marshall Islands; Mobil Oil Mariana Islands Inc., Saipan.|
|2||3||Triple J Enterprises Inc.
Robert H. Jones, chairman and CEO; Jeffrey B. Jones, president and COO; R. Dan Murrell, SVP; Jay B. Jones, SVP; Michael S. Sablan, VP; Michael Burgess, VP; Christopher Duenas, CFO; Edgar Aguilar, director of tax; Kristine R. Lujan, VP of marketing and public relations
|$203.30||$179.74||820||970||1984||Triple J Enterprises Inc. businesses include auto sales, auto parts and service, car rentals, food wholesale and retail, real estate, property development and restaurant management. Headquarters: Tamuning. Branches: Saipan, Palau, Majuro, Ebeye, California, North Carolina, Shanghai and Hakuba. Subsidiaries: Triple J Motors; Triple J Auto Distributors Inc.; Triple J Saipan Inc.; Triple J Commercial Tire Center; Triple J Rentals Inc.in Guam and Micronesia (licensees of Hertz Rent A Car in Guam, Saipan and Palau); Triple J Five Star Wholesale Foods Guam and Saipan; Triple J Marshalls Inc.; Neco Plaza Corp.; Triple J Restaurant Group Inc. (Red Lobster and Outback Steakhouse in Guam, Tony Roma’s and Capricciosa in Saipan and Truong’s Vietnamese Restaurant in Guam and Saipan); Triple J Real Estate; Sandy Beach Homes; Saddle Acres; Apricot Pension; Saipan Surfrider LLC, Saipan Surf Club; Saipan Comfort Homes LLC; Mighal International Inc., which does business as Triple J Merchant Services; One Stop Travel Inc.; Majuro Marine Inc.; Marianas EB-5 Regional Center LLC; Pacific Basin Payless LLC; Saipan Shrimp LLC, which does business as Bubba Gump Shrimp Co.; Great Harvest Bakery; Saipan Surfrider Resort and Hotel.|
|3||4||PMC Investments Inc.
Edward J. B. Calvo, president; Fabian C. Garces, VP;
Edward G. Calvo, secretary; Clarice Mariano, treasurer;
Directors: Dolores C. Garces, Katherine R. Calvo, Paul A. Calvo, Barbara Damron, Marie C. Benito, Reyna Calvo, and Clare Calvo
|$180.60||$175.50||800||785||2009||PMC Investment Inc. is the parent company of Pay-Less Markets Inc., PDC Wholesale, PMC Real Estate and Pay-Less Logistics. Pay-Less consists of eight grocery stores and a wholesale distribution center; the real estate entity consists of residential and commercial properties. Headquarters: Hagåtña.|
|4||7||Black Construction Corp.
Ronald N. Tutor, president; Leonard K. Kaae, SVP and general manager; Mark J. Mamczarz, VP of finance, secretary and treasurer; John M. McSweeney, VP of estimating and business development; Donald J. McCann, VP of operations
|$170.04||$120.80||1,056||418||1958||Black Construction Corp. is a general contractor serving Guam, the NMI, the FSM and the Philippines. The company executes projects encompassing civil, mechanical, electrical, structural, architectural and multi-disciplined engineering and management. Black Construction, Black Micro Corp. and E.E. Black Ltd. are owned by Tutor Perini Corp. Headquarters: Harmon. Affiliate: E.E. Black Ltd. of the Philippines, Black Micro Corp. of the NMI and FSM and E.E. Black Ltd. of the Philippines.|
|5||5||Atkins Kroll Inc.
Alexander W. Hammet, managing director of developing markets in Asia
|$149.45||$158.39||306||306||1914||Parent company: Inchcape plc. Atkins Kroll Inc. Guam and its sister company, Atkins Kroll (Saipan) Inc., located in San Jose, Saipan, are distributors and retailers of Toyota, Lexus, BMW and Chevrolet vehicles and also provide a full range of motoring services, parts and rental operations. Headquarters: Tamuning, Guam, and San Jose, Saipan.|
|6||9||DZSP 21 LLC
Wayne L. Cornell, president and CEO; Shannon Quinata, VP and CFO; Markham K. Rich, VP and COO
|$140.93||$120.40||1012||1050||2005||DZSP 21 LLC is a limited liability company specifically formed to perform the base operating support services contract for Joint Region Marianas facilities on Guam. Headquarters: Naval Base Guam. Satellite offices: Piti, Naval Magazine, Naval Hospital base, Naval Computer & Telecommunications Station and Andersen Air Force Base.|
|7||8||Core Tech International Corp.
Ho S. Eun, chairman; Conchita D. Bathan, CEO; Juno Eun, SVP of business development; Edwin K.W. Ching, SVP and chief legal counsel
|$135.27||$120.43||1284||1184||1991||Core Tech International Corp. is a general contractor and developer. Its affiliates manage approximately 3.2 million square feet of commercial and residential properties in different locations on Guam, with more than over 2,000 apartment residential units and 407 hotel rooms. Affiliates: Core Tech Development LLC.|
|8||6||Bank of Guam
William D. Leon Guerrero, chairman; Joaquin PLG Cook, president and CEO; Maria Eugenia Leon Guerrero, EVP and COO
|$133.44||$128.46||586||643||1972||The Bank of Guam is a Guam-chartered bank that operates 22 full-service branch offices: 11 on Guam, two on Saipan, one each on Tinian and Rota, one in Palau, one in each of the states of the Federated States of Micronesia, one in the Marshall Islands and one in San Francisco, Calif. Headquarters: Hagåtña. Subsidiaries: BankGuam Insurance and BankGuam Investment Services Inc.|
Roland Certeza, president and CEO; Andrew M. Gayle, COO; Joseph Shinohara, CFO; David R. Chase, chief technical officer; George Hill, EVP of strategy and IT; Daniel J. Tydingco, EVP of legal, regulatory and external affairs; Stacy Elarmo, head of human resources and people experience
|$109.47||$103.00||441||441||1950||GTA Teleguam operates wireless and wireline voice and data networks for residential, business, government, communities and individuals in Guam and internationally. Headquarters: Tamuning and Tumon. Retail locations: Agana Shopping Center, Guam Premier Outlets, Tumon, Micronesia Mall, Naval Exchange and Andersen Air Force Base Exchange.|
|10||11||Pacific Islands Club Guam
Mistsuo “Mike” Sato, president; Benjamin H. Ferguson, general manager
|$83.29||$86.26||736||764||1979||Guam and Guam Inc., which does business as Pacific Islands Club Guam, is Guam’s largest all inclusive beachfront resort. The property offers 777 guestrooms, nine food and beverage outlets and a waterpark.|
|11||14||The Vital Group
Jared C. Morris, CEO; Mathias S. Lawrence, chief strategy and investment officer; Johnny Adolph, CFO; Savenaca W. Tamani, operations and logistics manager; R. Francis Sharma, production manager
|$74.28||$68.99||155||146||2008||The Federated States of Micronesia Petroleum Corp. was established as an independent corporation by FSM national law in 2008. The company owns or operates five international airport refueling operations, five international seaport and bunkering facilities and supplies inland commercial and reseller operations. In February 2012, Vital Energy Inc. was established as a wholly owned subsidiary. In 2014, the coconut industry development unit was established as a result of a mandate by the FSM government for the FSMPC to develop the potential of the coconut industry in FSM. Together, these are the Vital Group of Companies.|
|12||13||Jones & Guerrero Co. Inc.
Elaine C. Jones, president and chairwoman; Ramona Lea Jones, CEO; Noli C. Cadag, EVP; John Thomas Brown, VP and general counsel
|$67.00||$69.00||284||290||1946||Jones & Guerrero Co. Inc. is a mini-conglomerate involved in retail, wholesale, construction, rental properties, hotels, real estate development and sales. Headquarters: Hagåtña. Divisions, subsidiaries and affiliates: Guam, Saipan and Puerto Rico. They include J&G Construction, J&G Rental Properties (Guam and Saipan), Micronesian Brokers Inc. (Guam and Saipan), Town House Department Stores Inc., Town House Furniture & Appliance Store, J&G Distributors & Wholesalers, Island Business Systems & Supplies (Guam and Saipan), Town House Inc. (Saipan), Marianas Fast Foods Inc. (Saipan), Aquarius Inc. (Saipan), Marianas Computer Technology Inc. (Guam and Saipan), Advanced Computer Technology Inc. (Guam and Saipan), MBI PR (Puerto Rico), ECJ Enterprises Inc., ECJ Aloha Investments Inc., ECJ NoCal Investments Inc., ECJ Magnolia Investments Inc. and ECJ Tarheel Investments Inc.|
|13||15||First Hawaiian Bank
Robert S. Harrison, chairman and president and CEO; Mitchell Nishimoto, EVP of retail banking group; Edward G. Untalan, SVP, Guam and CNMI region manager and Maite banking center manager
|$65.16||$64.26||122||122||1858||First Hawaiian Bank is a full-service financial institution offering both personal and business banking services which include checking, savings, credit and debit cards, merchant services, online banking, mobile banking, as well as insurance, wealth management, and retirement planning services. The bank has been doing business in Micronesia since 1970 with three branches on Guam and two on Saipan.|
Frank S.N. Shimizu, president and CEO; Joseph S.N. Shimizu, VP and CFO; Paul S.N. Shimizu, corporate secretary; Thomas G. Shimizu, general manager
|$63.86||$59.66||165||170||1949||Ambros. Inc. is a distributor of Anheuser-Busch InBev products; Kirin Beers; Kimberly Clark, Wente, Ironstone and other wines; and other beverage, tobacco, food and health products. Headquarters: Tamuning. Branches: Marianas Distributors Inc. (Saipan), Shimbros International Inc. (Palau) and South Pacific Distributors Inc. (American Samoa).|
|15||19||South Pacific Petroleum Corp.
Joon Hee Hahn, president; Douglas Dean, CEO
|$62.09||$41.20||195||195||2000||South Pacific Petroleum Corp. is a local company and operates its gasoline stations and convenience stores throughout Guam under the 76 and Circle K brands, respectively. Also, it supplies LPG in Guam, the NMI, Palau and the FSM. Headquarters: Tamuning, Guam.|
|16||17||Hilton Guam Resort & Spa
Hiroki Sugie, general manager
|$48.50||$46.97||480||520||1972||Premier Ken Guam LLP, which does business as the Hilton Guam Resort & Spa, is a three-building, 32-acre hotel property comprised of 646 guest rooms and suites, six restaurant and bar facilities, a wellness/fitness center, a wedding chapel, a water park and a spa. Location: Tumon.|
|17||20||Smithbridge Guam Inc.
Albert J. Smith, president; Benjamin G. Bailey, VP and general manager; Graeme Ridley, VP of constrction
|$47.86||$32.08||280||210||1992||Smithbridge Guam Inc. offers a diverse range of construction services from civil and marine construction, mechanical and fabrication, to rock mining, quarry products, ready mix concrete, asphalt paving, and cranes and other heavy equipment rental. Headquarters: Yigo.|
|18||18||Pacific Rim Constructors Inc.
Keith J. Stewart, president
|$44.04||$44.04||233||235||2013||The Pacific Rim Group of Companies offers general construction and real estate development services throughout the Pacific rim. The company is comprised of Pacific Rim Land Development Inc., which does privately funded projects; Pacific Rim Constructors Inc., which does federally funded projects; Pacific Rim Land Development LLC, which does business as Pacific Rim Constructors in Saipan; and Pacific Rim Constructors Inc. in Hawaii. Headquarters: Dededo.|
Lucy M. Alcorn, CEO; David A. Alcorn, president; Clifford A. Guzman, VP of technical operations; Derek Alcorn, VP of restaurant operations; Nick Alcorn, VP of quality assurance; Jay Mariano, controller
|$40.20||$39.40||620||550||2003||GFS owns and operates commercial restaurants and Federal contracts, Kings restaurants, Ruby Tuesday, Chucky E Cheese formerly, Popeyes, Del taco, Domino’s on U.S. Naval Base Guam, contracts with Naval Hospital and GRMC hospital, U,S, Maeine contracts camp Pendleton California, Camp Lejeune North Carolina, DODEA Food and facility support, GDOE Subcontractor Sodexo. Headquarters: Tamuning. Sattelite: Marshall Islands, Saipan and the Federated States of Micronesia|
|20||22||Pacific International Inc.
Joseph “Jerry” Kramer, president and CEO; Kenneth Kramer, treasurer and COO; Joey delos Santos, CFO and controller; Lorraine Kramer, VP and corporate secretary
|$35.92||$30.16||527||454||1976||Pacific International Inc. is a multi-disciplined construction company. Other businesses include real estate management and development, travel and leisure, insurance, rental cars, wholesale distribution and fuel stations, tug and barge, marine, fisheries dock and net repair. Companies: Diamond K Wholesale, Nimitz Towers and Waffle Crete International. Headquarters: Marshall Islands, Guam, Saipan and FSM.|
|21||21||Bank of Hawaii
Peter S. Ho, chairman, president and CEO; James C. Polk, vice chair and chief commercial officer; Dana S. Takushi, SEVP for consumer banking group; Mark H. Tokito, SVP for West Pacific commercial banking; Erlinda Alegre, SVP for west pacific branch market management; Jon F. Bargfrede, SVP for west pacific consumer lending
|$33.85||$31.30||91||94||1897||Bank of Hawaii Corp. is a regional financial services company serving businesses, consumers and governments in Hawaii and the West Pacific. Bank of Hawaii has been doing business in Micronesia since 1961 with two branches in Guam, one in Saipan and one in Palau.|
|22||Monster Auto Corp.
Derrick Muna Quinata, president and CEO; Donna Muna Quinata, SVP; Dean Mueller, VP; Arnel Esturas, financial controller; Fred Cardinas, director of service; Stephanie Flores, director of compliance and human resources; Robert Gopez, director of parts
|$31.73||$7.90||81||95||2008||Monster Auto Corp., which does business as Guam Auto Spot is a full-service automobile dealership offering new Buick, GMC, and Mitsubishi vehicles while offering the largest pre-owned vehicle selection on the island. Headquarters: Hagåtña.|
|23||23||Coast360 Federal Credit Union
Gener Deliquina, CEO; Monica Pido, COO; Lerissa Malig, CFO; Jessica Atalig, chief compliance oﬃcer; Michael Duenas, chief informaon oﬃcer
|$22.47||$21.21||130||138||1962||Locally chartered in 1962, Coast360 Federal Credit Union is not-for-profit financial cooperative offering a full range of banking products and services for both personal and business needs. Headquarters: Maite. Member service centers: Tamuning and Dededo.|
|24||25||ANZ Guam Inc.
Clarke Schaumann, CEO of ANZ Guam, Inc. and regional country head of ANZ American Territories
|$14.10||$14.84||55||53||1990||ANZ Guam Inc. is a locally chartered and FDIC insured bank. It is connected to a strong ANZ network throughout the Pacific, Australia, New Zealand and Asia, backed by resources of the ANZ Banking Group. ANZ offers a range of personal and business banking services including checking, savings and investment accounts, personal, auto, home and property loans, credit cards, business loans and lines of credits, merchant card services, trade and foreign exchange services and digital banking. Headquarters: Hagåtña. Branches: Two in Guam and two in American Samoa.|
Paul K. Baron, principal
|$10.33||$1.85||26||17||2006||GHD is a professional services company operating in the global markets of water, energy and resources, environment, property and buildings, and transportation. GHD provides engineering, architecture, environmental and construction services to private and public sector clients. GHD operates in Asia, Australia, Europe, North and South America and the Pacific region. Headquarters: Irvine, Calif. Regional branches: Guam and Saipan.|
|26||28||Pacific Data Systems Inc.
Robert J. Maloney, chairman, CEO; John Day, president, COO
|$9.29||$7.90||68||60||1969||Pacific Data Systems is a locally owned IT and telecommunications company serving customers in Guam, Saipan, Hawaii and American Samoa. Headquarters: Guam. Branches: Saipan, Hawaii and California.|
|27||27||Community First Credit Union
Gerard A. Cruz, CEO
|$8.10||$8.16||73||84||1962||Community First Federal Credit Union is a financial institution federally insured by the National Credit Union Administration that provides members with financial solutions. Headquarters: Tamuning. Branches: Hagåtña, Dededo and Mangilao|
Annmarie T. Muna, president and general manager; Rodney J. Rankin, VP
|$3.39||$3.34||19||N/A||1994||AM Insurance Inc. is an insurance broker specializing in providing brokerage services to individuals, businesses, government entities, as well as religious and non-profit organizations. AM Insurance is an independent broker that has access to several local and international insurance carriers, making available a multitude of diversified markets to customers. Headquarters: Hagåtña.|
Hernan Bonsembiante, president; Gregory Cantelo, VP and principal engineer
|$3.00||$1.98||17||15||1981||Amorient was established as an engineering and construction management company, and has been on Guam since 2002. It provides engineering services in all disciplines in Guam and the CNMI. Headquarters: Tamuning; Subsidiary: Amorient Contracting Inc.|
|30||29||Pacific Islands Development Bank
Christopher A. Cruz, president, CEO; Lindsay Timarong, VP
|$1.21||$3.39||4||4||1989||Pacific Islands Development Bank is a regional development finance institution whose mission and purpose is to contribute to the economic and social development of its members. Headquarters: Guam. Members: Guam, the NMI, the Marshall Islands, Palau, Chuuk, Kosrae, Pohnpei and Yap.|