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Forbes Asia's 200 Best Under A Billion: 11 Malaysian companies made the list.
11 Malaysian companies are listed in Forbes Asia's Top 200 Under $1 Billion.
Forbes Asia released the list of the 'Top 200 Under $1 Billion Companies in 2024' today, with 11 Malaysian listed companies making the cut, an increase of 2 from last year's 9.
According to the press release, this list aims to recognize the top performing small and medium-sized listed companies in the Asia Pacific region with sales exceeding $10 million but less than $1 billion.
Forbes Asia pointed out that the list is not ranked in any particular order. The selected companies were chosen from a pool of 0.02 million companies, and the selection criteria are primarily based on the past 1 to 3 years' debt, sales, and earnings per share growth, as well as the composite score calculated from the strongest 1-year and 5-year average return on equity.
Despite geopolitical and inflation pressures weakening economies in some parts of Asia Pacific, strong domestic demand, driven by increased infrastructure spending and global trade support, continues to drive overall growth in the region in 2023.
The announcement pointed out that the booming middle class consumption willing to dine out, coupled with the steady return of tourists, also allowed 21 food companies to make the list, doubling compared to last year.
The overall consumer sentiment expenditure also made the beauty-related industry "radiant" again, with 9 companies on the list. However, the sluggish supply chain has made the semiconductor industry slightly less competitive, decreasing from 14 companies last year to 8 companies.
Consumer sector is thriving.
Looking back at the local scene, in the wave of consumption frenzy, the 11 "Pearls" from Malaysia that made the list also follow this trend, of which 7 companies belong to the consumer sector.
These companies include the necessities of urban life, including food manufacturing, fresh produce wholesale, bedding supplies, clothing, building materials, and automobiles.
On the other hand, looking at the list of new companies, many are food and beverage related companies, including the Singapore confectionery company Delfi. $Delfi (P34.SG)$ The company's revenue grew by 13% last year, reaching 0.538 billion US dollars.
Delfi's confectionery brands Ceres and Goya are sold in 17 countries, with Indonesia being its largest market, accounting for nearly two-thirds of its sales, or 0.353 billion US dollars.
Another newly-listed company - India's ice cream manufacturer Vadilal Industries, founded in 1907, saw a 52% net profit increase to $18 million.
Over the past twenty years, there has been a huge increase in the sales of bottled water in Indonesia, due to the continuous improvement of the middle class's wealth in the country, as well as their concerns about the quality of tap water.
Indonesian bottled water production company Sariguna Primatirta had a revenue of $0.137 billion in 2023, a 25% increase over the previous year, with net profit increasing by nearly two-thirds to reach $20.14 billion.
In addition, Forbes Asia pointed out that this year's list includes 54 companies that were also on the list last year. Among them, Thai beverage company Sappe made its third appearance on the list. The revenue last year grew by approximately 30% to $0.174 billion, with more than 80% of sales coming from the Asian export market.
In addition to beverages, spicy pickled snacks have become a new favorite of modern consumers, with the demand for spicy pickled snacks rising. This has also led to the inclusion of Chinese snack manufacturer Yanker Shop Food (Yanker Shop Food) on the list for the second consecutive year, with the company's revenue growing by 42% to $0.576 billion in 2023. $Yanker Shop Food (002847.SZ)$Forbes Asia 2024 "Top 200 Companies Under 1 Billion Dollars" (Malaysian Section)
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Forbes Asia 2024 "Top 200 Companies Under 1 Billion Dollars" (Malaysian Section)
Source: Forbes
Source of information: Nanyang Business Daily
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