Business News
Chinese and Indian firms make up 64 per cent of Asia top 50 list
Sep 16, 2010, 6:22 GMT
Hong Kong - Asian economic powerhouses China and India dominated the list of the region's top companies released Thursday, claiming 32 of the top 50 places.
Each country accounted for 16 of the firms on the annual Forbes Asia Fab 50 list. Last year, China also had 16 businesses listed while India had 13.
China's entries included Lenovo Group Ltd, the China Mengniu Dairy Co and SAIC Motor Corp Ltd while India's included Infosys Technologies Ltd, JSW Steel Ltd and HDFC Bank Ltd.
Hong Kong and Taiwan tied for third place with four companies each while South Korea had three and Australia and Japan had two each. Japan topped the inaugural list in 2005 with 13 firms.
Indonesia, Singapore and Thailand rounded off the 2010 list with one entry each - Indonesia's Bank Central Asia Tbk PT, Olam International Ltd in Singapore and Banpu Pcl in Thailand.
The list released by magazine publisher Forbes Inc was compiled from a shortlist of 936 Asian companies with revenues or market capitalization of at least 3 billion dollars.
Ranking criteria included recent financial returns, share price movement and future prospects. The previous five years' revenue, operating earnings and return on capital were also taken into account as were recent financial results and share price movements.
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