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Annual ranking of the best of Asia-Pacific's biggest listed companies
John Koppisch and Scott DeCarlo, 09.23.09, 07:00 PM EDT
More than in most years, our list of the 50 best big public companies in the region this year is a guide to the outfits that have real staying power. Companies that racked up big numbers when times were good had to show sterner stuff this year.
This is the fifth anniversary of the Fab 50, and no companies have shown more staying power than the seven that have made the list every year--Australia's Brambles, BHP Billiton ( BBL - news - people ) and Woolworths; India's Infosys Technologies ( INFY - news - people ) and Wipro ( WIT - news - people ); Hong Kong's Li and Fung; Taiwan's Hon Hai Precision Industry. But a few companies that have graced our list for four years--such as mainland wireless outfit China Mobile ( CHL - news - people ) and Hong Kong retailer Esprit--saw their streaks end this time.
Our list is a mix of giant, established companies--this year that includes Australian miner BHP Billiton, Hong Kong conglomerate Noble Group and Indian oil-and-gas heavyweight Reliance Industries--and smaller outfits such as Agile Property Holdings, Anhui Conch Cement and Digital China Holdings. Note that all three of those upstarts are from China and new to the list.
The mainland's fast growth continues to toss up hot new companies that force themselves onto our honor roll. Indeed, China once again boasted the largest number of Fab 50 companies--16, or almost one-third of the list. When we compiled our first list in 2005, only five Chinese companies could crack it (see chart below). On that first list, Japan had the most companies--13--but in a sign of how that economy has stagnated, only four made the list this time.
Of the four Japanese companies on this year's list, three are making their first appearances as Asian Fab 50 companies, led by Komatsu ( KMTUY - news - people ), the world's second-largest maker of earth-moving equipment. In total, 20 rookies made their debuts on the Asia Fab 50. Most of the companies are based in China, led by SAIC Motor, one of China's "big six" automakers. After a one-year absence, Singapore made its presence felt again with its sole representative--also an Asia Fab 50 first-timer--Olam International, the world's largest supplier of cashew nuts.
From this year's list of Asia's Fab 50 companies, we highlight two companies from India that are leaders in their industry. Jindal Steel & Power, once a struggling factory, was transformed into India's most valuable steel producer after state-owned SAIL. Gree Electrical Appliances, led by Dong Mingzhu, currently vies with LG Electronics for the title of world's biggest maker of residential air conditioners.
How do companies make the Asia Fab 50? This year we started with a universe of 910 companies with at least $3 billion in revenue or a $3 billion market capitalization. We whittle down the candidates by first looking at each company's five-year track record for revenue, operating earnings and return on capital. Then we look at the most recent results, share-price movements and the outlook for the year ahead. A loss in the last fiscal year knocks the company out. Judgment calls must be made, given the differences in transparency, accounting and conditions among countries. In the end, we think it's a valuable exercise that calls attention to great management and entrepreneurial skill.
Rise and Fall
China's Fab 50 membership has more than tripled in five years, while Japanese companies have taken a hit.
Asia's Fab 50 - Forbes.com
John Koppisch and Scott DeCarlo, 09.23.09, 07:00 PM EDT
More than in most years, our list of the 50 best big public companies in the region this year is a guide to the outfits that have real staying power. Companies that racked up big numbers when times were good had to show sterner stuff this year.
This is the fifth anniversary of the Fab 50, and no companies have shown more staying power than the seven that have made the list every year--Australia's Brambles, BHP Billiton ( BBL - news - people ) and Woolworths; India's Infosys Technologies ( INFY - news - people ) and Wipro ( WIT - news - people ); Hong Kong's Li and Fung; Taiwan's Hon Hai Precision Industry. But a few companies that have graced our list for four years--such as mainland wireless outfit China Mobile ( CHL - news - people ) and Hong Kong retailer Esprit--saw their streaks end this time.
Our list is a mix of giant, established companies--this year that includes Australian miner BHP Billiton, Hong Kong conglomerate Noble Group and Indian oil-and-gas heavyweight Reliance Industries--and smaller outfits such as Agile Property Holdings, Anhui Conch Cement and Digital China Holdings. Note that all three of those upstarts are from China and new to the list.
The mainland's fast growth continues to toss up hot new companies that force themselves onto our honor roll. Indeed, China once again boasted the largest number of Fab 50 companies--16, or almost one-third of the list. When we compiled our first list in 2005, only five Chinese companies could crack it (see chart below). On that first list, Japan had the most companies--13--but in a sign of how that economy has stagnated, only four made the list this time.
Of the four Japanese companies on this year's list, three are making their first appearances as Asian Fab 50 companies, led by Komatsu ( KMTUY - news - people ), the world's second-largest maker of earth-moving equipment. In total, 20 rookies made their debuts on the Asia Fab 50. Most of the companies are based in China, led by SAIC Motor, one of China's "big six" automakers. After a one-year absence, Singapore made its presence felt again with its sole representative--also an Asia Fab 50 first-timer--Olam International, the world's largest supplier of cashew nuts.
From this year's list of Asia's Fab 50 companies, we highlight two companies from India that are leaders in their industry. Jindal Steel & Power, once a struggling factory, was transformed into India's most valuable steel producer after state-owned SAIL. Gree Electrical Appliances, led by Dong Mingzhu, currently vies with LG Electronics for the title of world's biggest maker of residential air conditioners.
How do companies make the Asia Fab 50? This year we started with a universe of 910 companies with at least $3 billion in revenue or a $3 billion market capitalization. We whittle down the candidates by first looking at each company's five-year track record for revenue, operating earnings and return on capital. Then we look at the most recent results, share-price movements and the outlook for the year ahead. A loss in the last fiscal year knocks the company out. Judgment calls must be made, given the differences in transparency, accounting and conditions among countries. In the end, we think it's a valuable exercise that calls attention to great management and entrepreneurial skill.
Rise and Fall
China's Fab 50 membership has more than tripled in five years, while Japanese companies have taken a hit.
Asia's Fab 50 - Forbes.com
