Friday, October 9, 2009

8 Malaysian SMEs in Forbes 'Best Under A Billion' list

EIGHT Malaysian companies are among the 200 small and medium-sized (SME) companies in the Asia Pacific that got into Forbes Asia's fifth annual "Best Under A Billion" list for 2009.

The companies are Coastal Contracts Bhd (marine transportation), Efficient E-Solutions Bhd (information technology outsourcing), ETI Tech (batteries),Hai-O Enterprise Bhd, Kumpulan Fima Bhd (food processing), NTPM (paper products), Success Transformer (electrical manufacturing) and YNH Property Bhd (palm oil).

According to Forbes Asia yesterday, the winners were culled from over 25,000 publicly listed companies with under US$1 billion (RM3.49 billion) in sales.

Four Malaysian companies - Coastal Contracts, Kumpulan Fima, NTPM and YNH Property - each recorded US$101 million (RM352.49 million) in sales.

Of the others, Hai-O Enterprise registered US$122 million (RM425.78 million) in sales, Success Transformer US$53 million (RM184.97 million), ETI Tech US$24 million (83.76 million), and Efficient E-Solutions US$17 million (RM59.33 million).

Forbes Asia said a third of last year's companies returned to this year's list, with all having either increased sales and profits over the past 12 months or were forecast to do so in the coming quarters.

It said that 78 companies from Hong Kong and China, or nearly 40 per cent, dominated the list, followed by Japan with 24 companies, South Korea (23), India (20) and Australia (18).

Apparel, media, technology and healthcare companies led the way on the list, it added.

Commenting on the list for the September 21 issue of Forbes Asia, writer Jack Gage said there were many survival stories in these 200 top companies whose lessons other entrepreneurs could learn from.

Gage said unprecedented dislocations in the global economy disrupted supply chains over the past 12 months, froze lines of credit, depleted consumer coffers and sent business spending into hibernation.

"The 64 companies returning from last year are a testament to fearless management and 136 new entrants have seized opportunities arising from the economic uncertainty," he said.

The 200 winning companies will be honoured at the Forbes Asia's "Best Under A Billion" award ceremony in Singapore on November 11. - Bernama

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