KUALA LUMPUR (August 11): Seven Malaysian companies have made it to the Forbes Asia's Best Under A Billion 2022 list.
The annual list highlights 200 Asia-Pacific public companies with less than US$1 billion in sales and consistent top- and bottom-line growth.
The seven Malaysian companies are CE Technology, D&O Green Technologies Bhd, Greatech Technology Bhd, Kim Loong Resources Bhd, Tashin Holdings Bhd, UG Healthcare and ViTrox Corp Bhd.
In the list released on Tuesday (Aug 9), Forbes said that as Covid-19 restrictions ease across the Asia-Pacific and people adapt to the new normal, this year’s annual Best Under A Billion list highlights the shift to discretionary spending.
It said while healthcare and pharmaceutical-related companies were standouts last year, the post-pandemic return to daily life has benefitted apparel makers, mall operators, restaurants, consumer electronics and entertainment companies, among others.
Forbes said this year’s list includes 75 returnees from the prior year, reflecting their resiliency in a fast-changing environment.
Forbes said the list is meant to identify companies with long-term sustainable performance across a variety of metrics.
From a universe of 20,000 publicly traded companies in the Asia-Pacific region with annual sales above US$10 million and below US$1 billion, these 200 companies were selected.
The companies on the list, which is unranked, were selected based on a composite score that incorporated their overall track record in measures such as debt, sales and earnings-per-share growth over both the most recent fiscal one- and three-year periods, and the strongest one- and five-year average returns on equity.
Aside from quantitative criteria, qualitative screens were used as well, such as excluding companies with serious governance issues, questionable accounting, environmental concerns, management issues or legal troubles.
State-controlled and subsidiaries of larger companies were also excluded.
The criteria also ensured a geographic diversity of companies from across the region.
The list uses full-year annual results, based on the latest publicly available figures as of July 11, 2022.
Source: Forbes Asia