Kuala Lumpur, Malaysia (CU)_ This year, seven Malaysian firms were named in the Forbes Asian Best Under A Billion list, which recognizes the most successful businesses with yearly revenues between $10 million and $1 billion (about RM4.4 billion). The company with the highest revenue was Kim Loong Resources, which cultivates and processes palm oil. The firm’s 2021 revenue was $410 million (RM1.82 billion), while its net profit was $33 million. The firm based in Johor Bahru was established in 1967 and is valued at around RM1.89 billion.
In 2021, UG Healthcare, a manufacturer of disposable natural latex and nitrile examination gloves, ranked second in revenue with $251 million (RM1.15 billion). It had a net profit of $88 million. The firm was established in 1989 in Seremban, Negri Sembilan, and is currently valued at RM454 million. D&O Green Technologies, which produces light emitting diodes (LEDs) for automobile manufacturers using surface mount technology, ranked third on the list. The firm, established in 2000 and based in Melaka, generated US$204 million in sales last year. The net profit was $27 million.
ViTrox, a firm established in 2000 that designs and manufactures three-dimensional and line-scan vision systems for semiconductor integrated circuit inspection, ranked fourth with yearly revenues of US$164 million (RM730 million) and a net income of US$41 million (RM182 million). ViTrox, headquartered in Bandar Cassia, Penang’s mainland, has the largest market value at $1.68 billion of the seven Malaysian firms on the list.
Greatech Technology, Tashin Holdings, and CE Technology are the last three companies on the list. The yearly revenues of the three enterprises were $97 million, $94 million, and $31 million, respectively. Greatech, which manufactures automation equipment for sectors ranging from automotive to medical, and Tashin, which manufactures steel goods, are both based in Penang.
According to Forbes, the list identifies the 200 best-performing small and mid-sized publicly traded firms in the Asia-Pacific region with sales of less than $1 billion. As Covid-19 limitations relax across Asia-Pacific and people adjust to the new normal, the annual Best Under A Billion list 2022 spotlights the trend toward discretionary spending. According to the business magazine, “The post-pandemic return to daily life has benefited apparel makers, mall operators, restaurants, consumer electronics and entertainment companies, among others”.
