Nine Singaporean companies made it into Forbes’ inaugural “Best Over a Billion” list of companies across Asia-Pacific that recorded revenues of US$1 billion (RM4.2 billion) or more.
The list spotlights 200 publicly listed enterprises in the Asia-Pacific region and takes into consideration the track record of strong earnings growth.
The nine companies include DBS Bank, OCBC Bank and United Overseas Bank – Wilmar International, CapitaLand, City Developments, Olam International, ASM Pacific Technology and Venture Corporation.
Out of the nine, the top three are Singapore’s banks, with DBS ranking 13th, OCBC coming in at 20th and UOB placing at 23rd.
The latest full-year revenues for the top Singapore companies ranged from US$2.5 billion (ASM Pacific Technology) to US$44.5 billion (Wilmar International).
According to Jonathan Burgos, a Singapore-based Senior Editor for Forbes Asia, the companies were filtered from a pool of 3,200 listed firms in the region, candidates were evaluated on metrics such as their average five-year sales, operating income growth, return on capital, and projected growth over the next one to two years. Those with the highest composite score earned a place in the final tally of 200.
Top on the list by market value were giants in the technology sector.
Tencent and Alibaba from China headed the list, with market values of US$412,613 million and US$409,880 respectively.
The two giants maintain a huge lead, with Taiwan’s Taiwan Semiconductor coming in third with a market value of US$204,345 million.
The Best Over A Billion list also highlights the connection between the best-run big companies and the wealthiest people in the region.
“Nearly two-thirds of the companies on this list are controlled by or connected to families or individuals who have appeared on Forbes Asia’s rich lists,” said Mr Justin Doebele, editor of Forbes Asia.
While companies from China, Japan and South Korea dominated the list due to the larger candidate pool, many came from smaller markets such as Indonesia, Malaysia and Vietnam, Forbes said.
The new Best Over A Billion list complements the Best Under A Billion list of the 200 best-performing small and medium-sized firms in the region with less than US$1 billion in revenue.
The full list can be viewed here.