Forbes Asia lists 11 powerful Malaysian companies under 1 billion US dollars

Forbes Asia today announced the 2024 “Top 200 Companies Under 1 billion US Dollars”. Malaysia has 11 listed companies, 2 more than 9 last year.

According to the statement, the purpose of this list is to recognize the 200 best-performing small and medium-sized listed companies in the Asia-Pacific region. They sell more than 10 million US dollars, but listed companies that are less than 1 billion US dollars.

Forbes Asia pointed out that this time the list was in no particular order. The selected companies were selected from 0.02 million companies. The selection criteria were mainly based on comprehensive ratings calculated based on debt, sales and net profit growth per share over the past 1 to 3 years, as well as the strongest average return on equity for 1 and 5 years.

“Despite geopolitical and inflationary pressures weakening the economies of parts of the Asia-Pacific region, strong domestic demand, supported by increased infrastructure spending and global trade, will drive overall growth in the region in 2023.”

The statement pointed out that the middle class, which is willing to eat out, is booming in spending. Coupled with the steady return of tourists, 21 food companies have also made the list, double that of last year.

Overall consumer spending has also made the beauty-related industry “shine” again. A total of 9 companies are on the list. However, the slowdown in the supply chain has also left semiconductors slightly inferior, down from 14 last year to 8.

Looking back at the local area, as the consumer frenzy swept through, the 11 Malaysian “pearls” that made the list also followed this trend. Seven of these companies are consumer stocks.

These companies include clothing, food, lodging, and travel for urban people, including food manufacturing, fresh food wholesale, bedding, clothing, building materials, automobiles, etc.

Delfi's candy brands such as Ceres and Goya are sold to 17 countries, of which Indonesia is its largest market, accounting for nearly two-thirds of its sales, or $0.353 billion.

Another new company on the list, Vadilal Industries, an Indian ice cream manufacturing company, was founded in 1907, and its net profit increased 52% to 18 million dollars.

Over the past two decades, bottled water sales in Indonesia have surged due to the growing affluence of the country's middle class and their concerns about the quality of tap water.

Indonesian bottled water production company Sariguna Primatirta's revenue in 2023 was 0.137 billion US dollars, an increase of 25% over the previous year, and net profit increased by nearly two-thirds to 20.14 billion US dollars.

Furthermore, according to Forbes Asia, there are 54 companies on this year's list that are also on the list last year. Among them, the Thai beverage company Sappe is already on the list for the third time. Last year's revenue increased by about 30% to 0.174 billion US dollars, and the Asian export market accounted for more than 80% of last year's sales.

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Forbes Asia 2024 “Top 200 Companies Under $1 Billion” (Malaysian section)

Source: Forbes