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Forbes Asia has launched its annual Greatest Below A Billion listing. This 12 months’s listing contains 9 Malaysian names who made it onto the listing.
The Greatest Below A Billion listing recognises 200 small and midsized publicly traded corporations with gross sales beneath US$1 billion, particularly within the Asia Pacific area.
In keeping with Forbes Asia’s introduction to the listing, within the context of 2023, these corporations are ones that “outperformed regardless of stiff world headwinds like inflation and rising funding prices”.
Whereas the variety of Malaysian corporations on the listing this 12 months is decrease in comparison with 2021’s 11 names and the 16 of 2020, it is a rise from 2022’s seven corporations.
Some recurring names
A number of acquainted corporations have made the reduce this 12 months. Particularly, the returnees are Greatech Tech, ViTrox, and Kim Loong Sources, all of which have been highlighted in 2022’s Greatest Below A Billion listing.
Final 12 months, Greatech Expertise had recorded US$97 million in income, however that determine has since risen to US$151 million in 2023, Forbes reported.
Based in 1997, Greatech Expertise supplies automation gear for industries, together with merchandise corresponding to photo voltaic photovoltaic, automotive, medical, and battery.
In the meantime, Kim Loong Sources works within the plantations trade, cultivating and processing palm oil. In 2023, it recorded a income of US$433 million, Forbes reported, a rise from the US$410 million determine of 2022.
ViTrox is within the semiconductors discipline, which is one which Forbes highlighted as a standout trade. Based in 2000, ViTrox develops and produces 3D and line-scan imaginative and prescient programs for semiconductor built-in circuit inspection.
The corporate has been featured on Forbes’ Greatest Below A Billion listing a number of instances prior to now, together with 2015, 2017, 2019, 2021, 2022, and now, 2023. Its annual income as of the 2023 listing is US$170 million, Forbes reported.
Promising “new” corporations
Whereas there are a variety of debutants which are new to the Forbes Greatest Below A Billion listing, they’re actually not new corporations as they’ve been working for a few years. In reality, they’re all publicly traded corporations.
With Forbes reporting its annual income to be US$188 million, Frontken supplies assist companies corresponding to upkeep restore within the semiconductor trade, in addition to the oil and fuel and marine industries.
Headquartered in Bintulu, Sarawak, Harbour-Hyperlink Group is a transportation firm that gives logistics, delivery, engineering, and hauling companies. Based in 1975, the corporate’s annual income in line with Forbes is US$214 million.
With services in Malaysia, China, and Thailand, Thong Guan Industries manufactures plastic packaging throughout many industries corresponding to F&B, industrial, waste, medical, and extra. The corporate was based in 1942 and recorded US$318 million in income as of Forbes’ 2023 listing.
One other firm within the semiconductor discipline, QES Group is a Shah Alam-headquartered semiconductor producer, specialising in high-precision motion-controlled gear. Forbes reported its 2023 income to be US$60 million.
Scicom—a enterprise course of outsourcing firm—introduced in US$63 million in annual income, Forbes said. It supplies complete digital transformation options to different corporations, starting from technical infrastructure to software program implementation.
Uchi Applied sciences develops software program programming, {hardware} design, and system development within the Unique Design Manufacturing (ODM) house. Its 2023 income is reported by Forbes to be US$49 million.
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Congratulations all 9 of the Malaysian corporations which were acknowledged by Forbes on its Greatest Below A Billion 2023 listing.
Hopefully, these corporations will proceed to carry out effectively within the coming years, and possibly even cross the “Below A Billion” threshold sooner or later.
We additionally hope to see extra names highlighted sooner or later, and can proceed to maintain a watch out for Malaysian corporations that deserve public recognition.
- Be taught extra about Forbes Asia’s 200 Greatest Below A Billion right here.
- Learn different articles we’ve written about Forbes’ lists right here.
Featured Picture Credit score: Yong Piaw Quickly, CEO of Harbour-Hyperlink Group / Suresh Ariyanayakam, CEO of Scicom / Chu Jenn Weng, CEO of ViTrox
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