AirAsia, Ramayana among best firms

AirAsia, Ramayana among best firms

Agence France-Presse, Singapore

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 US$1 billion, Forbes Asia magazine said on Thursday.

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 $1 billion 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 said in a statement.

Companies on the list must have revenues under $1 billion a
year and five-year returns on capital of at last five percent.
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 "Forbes 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.