Seven M’sian firms make Forbes Asia Best Under A Billion list

Seven M’sian firms make Forbes Asia Best Under A Billion list

10 Aug 2022

Seven Malaysian companies made it to Forbes Asia’s Best Under A Billion list this year.

In terms of net income, disposable glove manufacturer UG Healthcare Corp Ltd tops the list at US$88 million (RM392 million). It posted a revenue (sales) of US$251 million last year. Headquartered in Seremban, the company is listed on the Singapore Stock Exchange and has a market value of US$102 million.

ViTrox Corp Bhd, which develops and produces three-dimensional and line-scan vision systems for semiconductor integrated circuit inspection came second with a net income of US$41 million and US$164 million in revenue. It has a market value of US$1.68 billion, the highest in the list.

Automation equipment provider for solar photovoltaic, automotive, medical and battery industries Greatech Technology Bhd is third with a US$34 million net income and US$97 million in revenue last year. It traded on the local bourse at US$1.1 billion.

Palm oil company Kim Loong Resources Bhd recorded US$33 million in net income and raked in the highest sales last year at US$410 million. Its market value last year was US$425 million.

D&O Green Technologies Bhd, which makes surface mount technology light emitting diodes for automotive manufacturers, made US$27 million in net income and US$204 million in revenue. It has a market value of US$1.13 billion.

Steel product manufacturer Tashin Holdings Bhd (net income US$15 million) and glove maker CE Technology Bhd (net income US$9 million) recorded revenue of US$94 million and US$31 million respectively last year. Tashin has a market value of US$43 million while CE Technology US$87 million.

Forbes Asia Best Under A Billion list tracks 200 from 20,000 top-performing publicly listed small and midsized companies in the Asia-Pacific region with sales above US$10 million and under US$1 billion.

“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. The post-pandemic return to daily life has benefitted apparel makers, mall operators, restaurants, consumer electronics and entertainment companies, among others,” Forbes said.

Source: The Sun Daily