Wall Street Journal (WSJ) recently announced the result of Asia 200 survey, which ranked the top 10 companies of selected countries according to financial reputation, corporate reputation, quality, vision, and innovation. Want to know the winners of Malaysia?
Wall Street Journal: "For the second year in a row, Public Bank Bhd ranked 1st overall among Malaysian companies. The bank's profit rose 20% to RM 2.2 billion on a 12% rise in revenue during the first nine months of the year.
Customer deposits grew at an annualized rate of 12.2%. Public Bank, Malaysia's 3rd largest lender by assets behind Malayan Banking Bhd (Maybank) and CIMB Group Holdings Bhd (CIMB), also ramped up its Tier 1 capital ratio while touting a dramatically lower impaired-loans ratio at 1.2%, versus 3.4% for the industry overall."
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| Source: Wall Street Journal |
Meanwhile, CIMB Group this year makes a new showing on the Asia 200 list, with a #7 spot. The group helm under Dato' Sri Nazir Razak, spearhead CIMB as a regional universal bank, setting its foot in Malaysia, Singapore, Indonesia, Thailand, Hong Kong, China, UK, USA, Brunei, Myanmar, Vietnam, Bahrain and Cambodia.
Surprisingly, Malaysia Airlines (MAS) was being ranked as #9 on the list, while AirAsia - the stiff rival - are not included. Anyway, MAS did turnaround recently after suffering from huge losses few years back. A police report against Tan Sri Tajuddin Ramli (former executive chairman) was lodged by MAS in 2002 for allegedly causing the national carrier to suffer losses in excess of RM 8 billion.
Ananda Krishnan's Maxis and Astro earned their place at 4th and 10th respectively. After re-listing of Maxis 2009, the billionaire took Astro, Measat and Tanjong private this year.
Source: Wall Street Journal
Of the top 10 Malaysian companies Nestle appears through confusion. Nestle is not a Malaysian company but a foreign company in Malaysia with Malaysian shareholders in the local Nestle.
ReplyDeleteAs for the report against Tajudin Ramli one wonders what basis there is for a police report (sic) or complaint against the man for causing the national carrier to suffer losses of $8 billion.
In the current prevailing economic crisis and immediately prior, airlines from every corner of the globe have been making substantial losses and extraordinary losses at that. Much of the reasons for these losses relate to increased security costs (including shedding services to lucrative sectors deemed unsafe after 9/11 and increasing fuel costs. Of course there have been exceptions like Singapore and Air Asia. But these are for different reasons. One has to compare apples with apples.
Frank Edelstein