PETALING JAYA, 26 August: Batu Kawan Bhd is the only Malaysian company to feature in a list of Forbes 2016 Fab 50 which lists 50 of Asia’s best publicly traded companies.
Batu Kawan engages in chemical manufacturing, transport, property investment, and plantation businesses, with a market capitalisation of about US$1.8 billion (RM7.2 billion) and revenue of US$3.8 billion. Its stock has risen 2.86% year-to-date, closing at RM18 a share yesterday.
According to an editorial in the magazine’s September issue, the 50 companies were derived from a pool of 1,524 public companies that have at least US$1.7 billion in annual revenue.
Companies that are losing money or whose revenue is less than it was five years ago; companies with more than 50% state-ownership; companies carrying a debt ratio higher than 50% or that are more than 50%-owned by listed parents are out. Those that remain are then run through more than a dozen financial measures to be selected as the region’s best of the best.
— THE SUN