"Nine Malaysian Companies Included in the Forbes Asia List"

In a statement, Forbes Asia highlighted that the companies featured on this year's list achieved remarkable performance despite significant global challenges such as inflation and increasing funding expenses.

 

Forbes Asia has recognized nine Malaysian firms in its "Best Under A Billion 2023" selection.

This compilation showcases 200 Asia-Pacific publicly traded companies with revenues under $1 billion, demonstrating consistent growth in their revenue and profitability.

The named companies include Frontken Corp Bhd, Greatech Technology Bhd, Harbour-Link Group Bhd, Kim Loong Resources Corp Bhd, QES Group Bhd, Scicom (MSC) Bhd, Thong Guan Industries Bhd, Uchi Technologies Bhd, and Vitrox Corp Bhd.

Despite facing challenges like inflation and rising funding costs, the companies on this year's list have excelled, as stated by Forbes Asia in an official release.

"The exceptional performers are mainly in the semiconductor manufacturing and related sectors. The demand for semiconductors, which are integral to everyday items such as smartphones, appliances, and cars, surged over the past three years due to the rapid adoption of artificial intelligence technologies. While the market is expected to stabilize somewhat this year as supply constraints ease, these sectors remain prominent," Forbes Asia explained.

Other notable achievers on the roster encompass firms providing information technology solutions that drive the digital evolution of healthcare, logistics, and manufacturing. Simultaneously, enterprises dependent on consumer expenditure, such as dining establishments, entertainment venues, and sports ventures, observed a rise in sales as Covid-19 restrictions waned.

Forbes Asia's editor, Justin Doebele, remarked, "This year's 'Best Under A Billion' compilation showcases some of the Asia-Pacific region's adeptly managed small and medium-sized publicly traded companies, highlighting their adept use of AI and digital technologies to enhance their competitive edge."

The annual "Best Under A Billion" list spotlights 200 premier publicly traded companies in the Asia-Pacific region, with annual revenues exceeding $10 million and falling below $1 billion.

From a selection of over 20,000 listed companies, candidates were chosen – not ranked – based on a comprehensive evaluation incorporating their overall performance in categories such as debt, sales, and earnings-per-share growth over both the most recent one-year and three-year fiscal periods, as well as the most robust one-year and five-year average returns on equity.