Three RI companies Asia's most competitive firms
Three RI companies Asia's most competitive firms
HONG KONG (Agencies): Three Indonesian companies, PT Indofood
Sukses Makmur, PT Indah Kiat Pulp & Paper and PT Polysindo Eka
Perkasa, were cited in the 1997 list of Asia's 50 most
competitive companies.
The 1997 list, issued Tuesday, was based on a survey by the
monthly business magazine Asia Inc. here which evaluated 600
companies in 14 Asian countries on their global competitiveness.
The evaluation, conducted in cooperation with management
consultancy Arthur D Little and several Asian Master of Business
Administration schools, applied such criteria as financial
efficiency, business growth, cost of capital and proprietary
patents.
Japan's Sony Corp., Honda Motor Corp., Toyota Motor Corp and
Canon Inc. topped the list. Japan, Singapore and Hong Kong
accounted for the majority of the top 50 with electronics, auto
and auto-parts makers being the dominant industries in the list.
The commended business ranking followed Indonesia's promotion
from the 30th slot to 15th in the Global Competitiveness Report
1997 of the Geneva-based World Economic Forum which was announced
four days earlier.
" Indonesia was the most competitive among the big emerging
markets, leaping from the 30th rank last year to 15th," the World
Economic Forum noted.
The forum's survey defined competitiveness as the ability of a
country to achieve a high rate of per capita gross domestic
product growth.
The competitiveness itself was judged on the basis of eight
elements including suitable policies, institutions, effectiveness
and efficiency of financial markets and the soundness of
economic, social and political institutions.
The three Indonesian companies included in the Asia Inc.list
of 50 Asian most competitive firms are all traded on the Jakarta
Stock Exchange.
Indofood is Indonesia's largest food-products business group
which is controlled by the Sudono Salim family and Indah Kiat
Paper, a unit of the widely-diversified Sinar Mas group, is the
country's largest manufacturer of paper.
Polysindo Eka Perkasa is the flagship company of the widely-
diversified Texmaco Group which recently inaugurated its purified
terephthalic acid (PTA) and polymer manufacturing plants in
Krawang, West Java.
Polysindo, which was also placed in the 19th rank of the 1997
Hot Stocks 500 List of the Hong Kong-based Asiaweek magazine, is
Indonesia's largest, integrated producer of polyester yarn and
fabric.
The company, together with its publicly-listed subsidiary PT
Texmaco Jaya which is chaired by Marimutu Sinivasan, has annual
capacities of 360,000 tons of PTA, 330,400 tons of polymer, 180
tons of polyester staple fiber and more than 220 million yards of
fashion fabric.