17Oktober2017

Maybank leads 14 Malaysian firms on Forbes Global 2000 list

Malayan Banking Bhd leads the 14 Malaysian companies that have made it into this year’s Forbes Global 2000 list.

Worldwide, firms based in China have done very well to make it to the Forbes list, with Industrial & Commercial Bank of China taking top spot on the list.

Maybank was ranked 390, with Tenaga Nasional following at 490 and Public Bank at 632.

Maybank, which was also the highest ranked company from Malaysia in last year’s list, however, dropped from last year’s position of 362.

Other Malaysian firms on the list this year: CIMB Group Holdings Bhd (671), Sime Darby Bhd (791), Genting Bhd (1,259), Petronas Chemical Group Bhd (1,319), RHB Bank Bhd (1,405), Hong Leong Financial Group Bhd (1,472), Axiata Group Bhd (1,510), MISC Bhd (1,543), Maxis Bhd (1,596), AmBank Group (1,771) and Petronas Gas Bhd (1,881).

In the 2016 ranking, 15 Malaysian companies had made it to the list, while in 2015, there were 16 firms on the list.

Forbes had earlier listed Malaysia as the 44th best country in the world for business.

The top 10 companies on the list are: Industrial & Commercial Bank of China, China Construction Bank, Berkshire Hathaway, JPMorgan Chase, Wells Fargo, Agricultural Bank of China, Bank of America, Bank of China, Apple and Toyota Motor.

Forbes said in a statement that the ranking was based on a mix of four metrics: sales, profits, assets and market value.

Forbes noted that the list was prepared at a time of unsteady geopolitical climates and slowing economies.

“Despite slowing gross domestic product figures, China and the US, whose companies make up more than 40% of the list, continue to dominate the top 10 list with financial giants,” Forbes said.-25/5/2017

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