Friday 29 Mar 2024
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KUALA LUMPUR (Aug 25): Batu Kawan Bhd, which is involved in chemical manufacturing and plantation, with a market capitalisation of US$1.8 billion (RM7.26 billion) as at Aug 15, 2016, made it to Forbes Asia's Fabulous 50 Companies list 2016 for the second consecutive year.

The 'Fab 50' list is an annual honour roll of high-performing blue chips in the Asia Pacific region, said Forbes Asia, a magazine published by Forbes Media LLC.

Ipoh-based Batu Kawan, which joins the ranks of previous list-makers such IHH Healthcare Bhd and SapuraKencana Petroleum Bhd, is the only company that was selected from Malaysia this year.

Forbes Asia said the Fab 50 companies are selected from a pool of 1,524 public companies in the region with at least US$1.7 billion in annual revenue which are then analysed using a battery of more than a dozen financial measures.

"The list excludes companies that have a debt ratio of more than 50% or where the government owns at least half of the shares. The result is the region's best of the best," it said.

This marks the twelfth edition of the Fab 50, and a glance at the 272 companies that have turned up on the list at least once shows the changing nature of business in the region.

The list with 21 new entrants features Chinese tycoon Jack Ma's Alibaba Group, which not only made a debut but also has the highest market value and outperforms on a range of other metrics, it said.

Alibaba came in with a market value of US$242.5 billion and profit of US$11.2 billion. China made the list with 22 companies, followed by India with eight companies, South Korea — five, Philippines and Hong Kong — three each, Taiwan and Japan — two each, and one each from Malaysia, Australia, Indonesia, Thailand and Vietnam.

At 12.30pm, Batu Kawan was unchanged RM18 on thin trade of 3,000 shares traded, valued at RM7.3 billion.

 

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