Dozen Indian firms in Forbes Asia's Fab 50, China tops list
Posted on Aug 28 2014 | IANS
New Delhi, Aug 28 : A dozen Indian companies figure in the 2014 Forbes Asia's Fabulous 50 list of the region's'best big publicly traded companies, following China with the most companies on the list.
The Fabulous 50 companies are selected from a pool of 1,300 publicly listed companies in Asia with at least USD 3 billion in annual revenue or market capitalization, Forbes said.
While Tata Consultancy Services (TCS) makes the Fab 50 list for the seventh time and sixth straight time overall, HDFC Bank has made the list eight times, more than any other company since the list started in 2005.
Other firms from India include HCL Technologies, which makes the list for the fifth time, and Sun Pharmaceutical Industries, which features for the third consecutive time. Mahindra and Mahindra (M and M) also returns to the list after a two-year gap.
China has the most companies in line with its show for the last three years. But with the country experiencing slowing economic growth, the total number falls to 16, down from 20 last year and 23 the year before.
As a fallout of China's real estate slump all the property developers that would make the list regularly, have fallen off, Forbes said.
Tech companies dominate China's lineup, with Tencen', having a market capitalisation of USD 155.6 billion, that is nearly twice that of runner-up India's TCS.
Lenovo is the biggest in terms of an annual revenue of USD 38.7 billion, just ahead of Tata Motors.
South Korea has six companies, while after failing to get any companies on the list the last two years, Japan has two companies this year.