Astra retains first slot in RI's 10 top companies

JAKARTA (JP): The Hong Kong-based Far Eastern Economic Review presented awards yesterday to Indonesia's top 10 companies, which were assessed in the magazine's annual leadership survey called Review 200.

Nayan Chanda, an editor from the magazine, said at yesterday's award presentation the companies were selected based on their leadership qualities.

Diversified industrial firm PT Astra International retained its position as Indonesia's top company for the second year running, followed by its car making subsidiary PT Toyota Astra Motor, which moved from third place to second.

State-owned international telecommunications giant PT Indosat dropped to third place from second place last year and first place in 1995.

PT Indofood Sukses Makmur moved to fourth position from sixth last year, while PT Ciputra Development stayed in fifth spot.

PT Bank Central Asia (BCA) moved to the sixth spot from ninth last year.

"It's a great pleasure for me, and this award serves as recognition of our standing in Indonesia's banking industry," said BCA president Abdullah Ali.

Cigarette maker PT HM Sampoerna, a newcomer to the top 10, was in seventh spot, PT Bank Bali in eighth place, PT Gudang Garam in ninth position and PT Bank Niaga in 10th spot.

Review 200 is an annual survey ranking 530 companies in Asia on their leadership qualities including services and products, innovation, vision and financial soundness.

More than 6,100 executives participated in the survey. They were readers of the Review and its five affiliated local business magazines in Hong Kong, Japan, Malaysia, Singapore, Taiwan, Thailand, Australia, India, Indonesia and South Korea. (rid)