KUALA LUMPUR – A total of 11 Malaysian firms were included in Forbes Asia’s Best Under A Billion 2024 list celebrating small and medium public-listed enterprises with sales between US$10 million and US$1 billion.
Published on August 7, the unranked list recognising 200 companies with a track record of long-term sustainable performance highlighted Johor-based SDS Group Bhd as one of eight companies leading in the the food and beverage industry.
Forbes Asia said the company founded in 1987 saw a 43% increase in revenue to US$70 million (RM283.7 million) last year while its net profit rose 132% to RM32.8 million.
Boasting a portfolio of nearly 40 bakeries and cafes across southern and central Malaysia, the confectionery, bread and pastry maker firm’s financial gains were attributed to an increase in people dining out and ordering meals online.
Meanwhile, among the 10 other local entities which made it into the list is Kuching-based CCK Consolidated Holdings Bhd, which mainly engages in integrated poultry business ranging from feedmills, hatcheries and chicken farms as well as retail stores.
Fashion retailer Padini Holdings Bhd, homeware designer and manufacturer Yoong Onn Bhd as well as Hong Leong Industries Bhd, whose subsidiaries manufacture, assemble and distribute Yamaha motorcycle and boat engines, also managed to be selected from a pool of around 20,000 listed firms.
Among the Malaysian entities in the list, automation solutions provider Greatech Technology Bhd, which also caters for other nations including Germany, India and Ireland recorded the largest market value at US$1.35 billion.
The local company with the highest recorded sales was Mazda and Kia multinational distributor Bermaz Auto Bhd, which garnered a total of US$841 million in sales with a US$75 million net income.
Other firms named in the list are Able Global Bhd, Pentamaster Bhd, Uchi Technologies Bhd and Wellcall Holdings Bhd.
Forbes Asia noted that while geopolitical and inflationary headwinds “sapped” momentum from some Asia-Pacific economies, strong domestic demand supported by an uptick in infrastructure spending and global trade powered the region’s overall growth in 2023.
Aside from considering quantitative criteria, qualitative screens were applied as well, causing companies with serious governance issues, questionable accounting practices, environmental concerns, management problems or legal troubles in recent years to be excluded from the list.
State-controlled entities and subsidiaries of larger companies were also excluded from the list, which was set up in 2002 to spotlight some of Asia’s most successful companies. – August 8, 2024