Press Metal makes debut on Forbes Asia’s list


Press Metal, started by chief executive officer Tan Sri Koon Poh Keong(filepic) and his six brothers, generated US$2bil in annual revenue with a net profit of US$138mil last year.

Press Metal, started by chief executive officer Tan Sri Koon Poh Keong(filepic) and his six brothers, generated US$2bil in annual revenue with a net profit of US$138mil last year.

PETALING JAYA: Press Metal Aluminium Holdings Bhd has made its debut on the Forbes Asia’s list of the 50 best publicly-traded big companies in the Asia-Pacific.

The aluminium producer, which was included in the 30-stock FBM KLCI in December last year, made it into the Fabulous 50 list with a market capitalisation of US$4.7bil, alongside Batu Kawan Bhd , which is making an appearance on the list for the fourth straight year.

Press Metal is placed at number 45, while Batu Kawan charts at number 44.

Press Metal, started by chief executive officer Tan Sri Koon Poh Keong and his six brothers, generated US$2bil in annual revenue with a net profit of US$138mil last year.

The company is helmed by brothers Tan Sri Lee Oi Hian, who is the CEO, and Lee Hau Hian, who is the managing director.

Forbes said in a statement that China once again topped the 50 best publicly traded big companies in the Asia-Pacific with a record 30 listees, including business giants such as Alibaba and Tencent.

Tencent’s net profit soared 71% last year to US$10.6bil, while Alibaba’s climbed 49% to US$9.7bil.

This would be their 10th and third year appearing on the list, respectively.

“Tencent is currently investing in startups to hatch new services for its core businesses such as the budget-shopping service Pinduoduo, or PDD,” the statement said, adding that the investment would help boost the company-owned WeChat app.

There are 17 new listees this year.

As to the selection, the Fab 50 companies are determined from a pool of 1,744 public companies in the region with at least US$2bil in annual revenue and have been listed for at least a year.

The goal is to highlight well-run entrepreneurial outfits, and the region’s best of the best.

Companies are then analysed according to more than a dozen financial measures.

The list excludes companies that have a high debt ratio, are more than 50% state-owned or more than 50%-owned by listed parents.

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