Indian, Chinese firms neck-and-neck in Forbes’ Fab 50 list
16 Sep 2010
Asia's emerging economic powerhouses China and India have tied for top place with the most number of firms on Forbes Asia's Fabulous 50 List, an annual compilation of the best and most profitable 50 big public companies in the region. Both countries accounted for 32 companies, or over 60 per cent of the firms on the list this year.
Economies around Asia bounced back last year and so did many of Forbes' Fab 50 companies, the magazine said.
Earnings, revenues and stock prices soared almost across the board after a rocky time the previous year. Forbes started with 936 companies that had at least $3 billion in revenue or market capitalisation. It looked at the five-year record for revenue, operating earnings and return on capital.
These 50 companies have solid financial track records coupled with great management and entrepreneurial skill, it said.
Mainland China, which has topped the list since 2008, held steady with 16 entries, unchanged from last year. Of these, 10 firms are returnees, including the Lenovo Group.
The company commands the biggest share of the PC market in China, and makes the list for the fourth time after dropping out last year. Also returning to the list are two other Chinese technology companies, Digital China Holdings and Tencent Holdings.
India also had 16 entries on the list, compared with 13 last year and only three when the inaugural Fab 50 List was published in 2005. A lot of Indian companies displayed staying power, with 11 firms returning to the list.
