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SINGAPORE, Oct 20 (AFP): Malaysian budget carrier AirAsia, Singapore water treatment firm Hyflux, Philippine fastfood giant Jollibee and India's Satyam Computer are among Asia's best for companies with annual revenues under one billion US dollars, Forbes Asia magazine said today.
Japan led this year's list with 38 winners, followed by Australia with 25 companies, Forbes said in a statement naming the 200 best Asian firms with earnings of under one billion dollars a year.
Hong Kong and Taiwan tied for third place with 22 each. India trailed at fourth place with 20, beating China which had 11 companies in the elite list-the same as Singapore and Thailand.
Malaysia had 10 companies, while Indonesia, Pakistan and South Korea had seven each and New Zealand had six. Sri Lanka had two companies on the list, ahead of the Philippines which had only one.
"Many of the companies in this year's list come from fast growing industries such as drugs, chemical and maritime sectors," Forbes Asia said in a statement.
Companies on the list must have revenues under one billion dollars a year and five-year returns on capital of at last five per cent. They are judged by sustained gains in sales, return on equity and earnings, it added.
Fifty-one companies which made it in 2004 were named again this year, while India's Essel Propack and Zee Telefilms are on the "Fobes Best Under A Billion" list for three consecutive years.
Apart from Hyflux, Singapore companies that made it to the list include lifestyle firm Osim, which gained fame for its massage chairs, and luxury timepiece retailer Sincere Watch.
Hong Kong's Wheelock, Cafe de Coral and Kingboard Chemical also made it to the list, as did India's Asian Paints and HDFC Bank.
Thailand was represented by Central Pattana, GMM Grammy and Thai Carbon Black Public, while China had Sino Biopharmaceutical, Tsingtao Brewery and Shanghai Shi Mao.
Japan's champions included Park24, Trend Micro and Square Enix, while Australia's winners included Timbercorp and Cochlear.
Taiwan had Giant Manufacturing and U-Ming Marine Transport, and Indonesia had Enseval Putera Megatrading and Ramayana Lestari Sentosa. New Zealand's Sky City Entertainment was also among the winners.
Forbes will hold the award ceremony for the first time in Singapore on November 10.
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