Karex In 2016 Forbes Asia's "Best Under A Billion" List

By Massita Ahmad SINGAPORE, Aug 4 (Bernama) -- Karex Bhd, the world's largest manufacturer of condoms, is a new entrant in the latest Forbes Asia's "Best Under A Billion" list. Karex joined four other Malaysian companies -- Inari Amerton Bhd, Mitrajaya Holdings Bhd, My E.G. Services Bhd and Signature International Bhd -- that made it to the list. The "Best Under A Billion" list honours 200 leading public companies in the Asia Pacific region with annual revenue between US$5 (US$1=RM4.04) million and US$1 billion, have positive net income and have been publicly traded for at least a year. From a universe of 17,000 companies, the candidates are screened on sales growth and earnings growth in the past 12 months and over three years, and for the strongest five-year return on equity. Besides Malaysia, in Southeast Asia, Singapore has two companies on this year's list. Thailand has four including Forth Smart Service, a top-up service company for prepaid phone and bankcards, while Vietnam has five companies on the list. The sole listee from the Philippines this year is D&L Industries, producer of food ingredients, plastics and chemicals. Indonesia has no representation on this year's list. Companies from mainland China, Hong Kong and Taiwan account for 65 per cent of this year's list, a record high for the list of the top 200 publicly traded companies in the Asia-Pacific region. "Even if the Chinese economy continues to slow, the rest of Asia —- if it is to carve out a bigger place on this Small Medium Enterprise all-star list -- is going to find big markets for high-value goods and services," Editor of Forbes Asia, Tim Ferguson said in a statement Thursday. "Maybe the ASEAN trade treaties can help," Ferguson said. Of the 200 companies, 116 are new on this year's list. A total of 98 companies from China and Hong Kong made it to this year's list, up from 84 the previous year. These companies stand out not just because of their record number but because they largely defy those who think that the world's second largest economy is in trouble. Making a strong showing on the list is Taiwan with 32 companies. South Korea has 16 companies on this year's list, including LOEN Entertainment, an online music sales and talent development company. Japan made a strong rebound with 13 companies, an increase from eight last year. Elsewhere in the region, Australia, India and Pakistan have seven companies each. A notable listee is Australian gold mining firm Northern Star Resources, which has made a dramatic recovery from a near meltdown a decade ago with a huge comeback of US$2.1 billion in market value. Sri Lanka has three companies on this year's list, up from one last year. The full list can be found at www.forbes.com/bub and in the latest issue of Forbes Asia. -- BERNAMA