Sunday, November 29

Press Metal among six Malaysian firms in Forbes Asia’s ‘Best Over a Billion’

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Press Metal Aluminium Holdings Bhd (Press Metal) join five other Malaysian companies on Forbes’ inaugural “Best Over a Billion” list of companies across Asia-Pacific that recorded revenues exceeding US$1 billion (RM4.2 billion). – File photo

KUCHING: Press Metal Aluminium Holdings Bhd (Press Metal) join five other Malaysian companies on Forbes’ inaugural “Best Over a Billion” list of companies across Asia-Pacific that recorded revenues exceeding US$1 billion (RM4.2 billion).

The list which was revealed today included Batu Kawan Bhd, Hap Seng Consolidated Bhd, IHH Healthcare Bhd, Kuala Lumpur Kepong Bhd and Public Bank Bhd.

In announcing this list, Forbes Asia said the new list complements the long-established “Best Under a Billion” list which curates 200 of the best performing, small and mid-sized companies within the Asia-Pacific region with less than US$1 billion in revenue.

Together, the two lists now cover all listed companies in Asia-Pacific, featuring the best 400 from the smallest to the biggest, using US$1 billion in sales as a dividing line.

“These two lists now comprehensively cover all of Asia-Pacific’s listed companies, selecting the best 400 from the smallest to the biggest, using US$1 billion in sales as a dividing line,” Forbes said.

Another metric, highlighted on this list, was a connection between the companies and members of our Asia-Pacific rich lists.

“Many have noted the positive correlation in Asia between corporate performance and entrepreneurial involvement—after all, if your personal fortune is linked to that of a company, there’s motivation to ensure that company does well over the long-term.

“The result? Nearly about two-thirds of the companies on this list are controlled or connected to families or individuals who have appeared on Forbes Asia rich lists,” it observed.

From 3,200 listed companies in the Asia-Pacific region, candidates for the “Best Over a Billion” list are evaluated based on several factors including their average five-year sales, operating income growth, return on capital, and projected growth over the next one to two years.

Out of the six Malaysian companies, Public Bank came in first with US$5.053 billion in sales, earning a net income of US$1.386 billion and a market value of US$19.7 billion.

Batu Kawan held the second spot with US$4.667 billion in sales and US$115 million in income, while Kuala Lumpur Kepong had US$4.564 billion in sales with US$187 million income.