SINGAPORE: Ipoh-based Batu Kawan Bhd
is the only Malaysian company listed in the just-released 13th Annual Forbes Asia's Fabulous 50 List (Fab 50).
Batu Kawan, an investment holding company engaged in chemical manufacturing, transportation, property investment and plantations, was founded on Dec 9, 1965.
Its current sales stood at US$4.11 billion and had a market capitalisation of US$1.8 billion.
Forbes Media said the Fab 50 companies were selected from a pool of 1,694 public companies in the region with at least US$1.8 billion in annual revenue.
Companies that were losing money or whose revenue was less than what it was five years ago did not qualify, it said.
The list also excluded companies that had a high-debt ratio, more than 50% state-owned, or more than 50%-owned by listed parents.
Companies are then analysed using a battery of more than a dozen financial measures.
“The result is a stellar lineup of high-performing blue chips, the region's best of the best,” said Forbes Media, a company which published Forbes and Forbes Asia magazines, including Forbes.com website.
It noted that there were no companies from Australia, the Philippines, Singapore and Thailand on this year's list.
Malaysia, Indonesia and Vietnam each had a company listed in the latest Fab 50, it said, adding that the companies were among the 20 new entrants for this year.
China was in the spotlight as it had a record 29 companies on the list, all of which were headquartered in the mainland, up from 22 last year.
Forbes Media said China boasts the two most valuable companies on the list - Alibaba Group and Tencent Holdings - with market capitalisations of US$399 billion and US$387 billion, respectively.
The two companies are also ranked first and second in terms of net profits, said Forbes Media.
India had eight companies on the latest list followed by Hong Kong and Japan, with three companies each, while both South Korea and Taiwan had two companies making it to the Fab 50.
The full list can be found at www.forbes.com/fab50. - Bernama
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