Get to know the 7 M’sian firms who made it to Forbes Asia’s 200 Best Under A Billion 2022

Forbes has released its annual Asia’s 200 Best Under A Billion 2022 list, highlighting 200 Asia-Pacific public companies with sales under US$1 billion (RM4.46bil), and who have seen consistent top- and bottom-line growth.

Of the 200 global firms listed, seven Malaysian companies made the cut this year. Here’s what they do.

1. Kim Loong Resources

Kim Loong Resources made US$410 million in sales, US$33 net income, and with US$425 market share. 

Part of the plantations industry, the firm engages in palm oil cultivation and processing. It was founded in 1967, headquartered in Johor, with operations in Sabah and Sarawak as well.

The Group is listed on the Main Market of Bursa Malaysia and has a market cap of RM1.64 billion as of January 31, 2022, according to data on its website.

2. UG Healthcare

UG Healthcare made US$251 revenue, US$88 net income, and has a US$102 market share.

The company manufactures disposable natural latex and nitrile examination gloves. The Group owns and operates distribution companies with a local presence in Europe, the UK, the US, China, Africa, and South America.

Established in 1989 in Seremban, UG Healthcare was listed on the Singapore Exchange in 2014.

3. D&O Green Technologies

D&O Green Technologies found its place on the list recording US$204 million in sales, US$27 million in net income, with a market value of US$1,129 million.

Part of the semiconductor industry, the company makes LEDs for automotive manufacturers. It is also involved in the services of installation, electronic components, electrical equipment for lighting, electronic display screen, and lighting fittings.

Founded in 2000, it’s headquartered in Melaka, with its R&D hubs located in Malaysia, California, and Taiwan. Geographically, D&O Green Technologies exports its products to Asia, Europe, and the US.

4. ViTrox

ViTrox brought in US$164 million in revenue, US$41 net income, with a US$1,677 million market share.

Founded in 2000, ViTrox designs and manufactures automated vision inspection equipment. The firm’s core products include its Machine Vision System (MVS), Automated Board Inspection (ABI), and Electronics Communication System (ECS). 

In 2004, ViTrox converted into a public limited company and listed its shares on Bursa Malaysia. 

Located in Penang, ViTrox also has global offices in Germany, Thailand, China, and the US.

5. Greatech Technology

Greatech Technology recorded US$97 million in revenue, US$34 million in net income, and has a market value of US$1,097 million.

It manufactures automation equipment for industries including those in solar photovoltaic, automotive, medical, and battery. 

The company was founded in 1997 and is based in Bayan Lepas, Penang, making its debut on the ACE Market of Bursa Malaysia in June 2019.

6. Tashin Holdings

Tashin Holdings made US$94 million in sales, US$15 million in net income, and has a market value of US$43 million.

The firm is an investment holding company with subsidiary companies that are principally involved in the activities of processing steel coils into slit coils, and steel sheets, to name a few.

Starting in 1999, the company went public in 2017, and is headquartered in Penang.

7. CE Technology

CE Technology reportedly brought in total revenue of US$31 million, US$9 million in net income, and US$87 in market value, according to Forbes.

The company makes cleanroom nitrile and latex gloves, designed to protect the wearer from exposure to chemicals. Founded in 2002, CE Technology went public in June 2019 on Bursa Malaysia.

Today, the Taiping, Perak-based firm operates from three sites that are within walking distance from one another for better risk management.

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A hearty congratulations to the Malaysian companies recognised by Forbes for this list, and here’s to hoping we see even more local names on Forbes Asia’s 200 Best Under A Billion 2023 list!

Featured Image Credit: Tay Kheng Chiong, Chief Executive Director of D&O Green Technologies / Gooi Seong Heen, Executive Director of Kim Loong Resources / Chu Jenn Weng, CEO of ViTrox