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Forbes Asia has launched its annual Best Under A Billion record. This yr’s record consists of 9 Malaysian names who made it onto the record.
The Best Under A Billion record recognises 200 small and midsized publicly traded corporations with gross sales underneath US$1 billion, particularly within the Asia Pacific area.
According to Forbes Asia’s introduction to the record, within the context of 2023, these corporations are ones that “outperformed despite stiff global headwinds like inflation and rising funding costs”.
While the variety of Malaysian corporations on the record this yr 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
Just a few acquainted corporations have made the lower this yr. Namely, the returnees are Greatech Tech, ViTrox, and Kim Loong Resources, all of which had been highlighted in 2022’s Best Under A Billion record.
Last yr, Greatech Technology had recorded US$97 million in income, however that determine has since risen to US$151 million in 2023, Forbes reported.
Founded in 1997, Greatech Technology offers automation tools for industries, together with merchandise comparable to photo voltaic photovoltaic, automotive, medical, and battery.
Meanwhile, Kim Loong Resources 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. Founded in 2000, ViTrox develops and produces 3D and line-scan imaginative and prescient methods for semiconductor built-in circuit inspection.
The firm has been featured on Forbes’ Best Under A Billion record a number of instances up to now, together with 2015, 2017, 2019, 2021, 2022, and now, 2023. Its annual income as of the 2023 record is US$170 million, Forbes reported.
Promising “new” corporations
While there are a selection of debutants which can be new to the Forbes Best Under A Billion record, they’re definitely not new corporations as they’ve been working for a few years. In truth, they’re all publicly traded corporations.
With Forbes reporting its annual income to be US$188 million, Frontken offers assist companies comparable to upkeep restore within the semiconductor trade, in addition to the oil and fuel and marine industries.
Headquartered in Bintulu, Sarawak, Harbour-Link Group is a transportation firm that gives logistics, transport, engineering, and hauling companies. Founded in 1975, the corporate’s annual income in accordance with Forbes is US$214 million.
With amenities in Malaysia, China, and Thailand, Thong Guan Industries manufactures plastic packaging throughout many industries comparable to F&B, industrial, waste, medical, and extra. The firm was based in 1942 and recorded US$318 million in income as of Forbes’ 2023 record.
Another firm within the semiconductor discipline, QES Group is a Shah Alam-headquartered semiconductor producer, specialising in high-precision motion-controlled tools. 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 offers complete digital transformation options to different corporations, starting from technical infrastructure to software program implementation.
Uchi Technologies develops software program programming, {hardware} design, and system building within the Original Design Manufacturing (ODM) area. 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 Best Under A Billion 2023 record.
Hopefully, these corporations will proceed to carry out effectively within the coming years, and possibly even cross the “Under A Billion” threshold sooner or later.
We additionally hope to see extra names highlighted sooner or later, and can proceed to maintain an eye fixed out for Malaysian corporations that deserve public recognition.
- Learn extra about Forbes Asia’s 200 Best Under A Billion right here.
- Read different articles we’ve written about Forbes’ lists right here.
Featured Image Credit: Yong Piaw Soon, CEO of Harbour-Link Group / Suresh Ariyanayakam, CEO of Scicom / Chu Jenn Weng, CEO of ViTrox
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