Three Sri Lankan companies have made it to the 2016 Forbes Asia’s 200 ‘Best Under A Billion’ list, up from just one last year. The three companies are Regnis (Lanka) Plc, Royal Ceramics Lanka Plc and Textured Jersey Lanka Plc.
Regnis (Lanka) Plc, one of the four publicly listed subsidiary firms of the Singer Sri Lanka group, manufactures and markets refrigerators and washing machines while Royal Ceramics Lanka Plc, a subsidiary of Vallibel One Plc is a leading manufacturer of homogenous porcelain tiles, ceramic tiles and sanitaryware in Sri Lanka.
Textured Jersey Lanka Plc, a member of the Brandix group specializes in the manufacture of high quality, weft-knitted and dyed stretch fabrics and is a major supplier to apparel manufacturers throughout Asia and end-chain retailers.
The ‘Best Under A Billion’ list honours 200 leading public companies in the Asia Pacific region with annual revenue between US$5mil and US$1bn, have positive net income and have been publicly traded for at least a year.
Forbes said from a universe of 17,000 companies, the candidates were screened on sales growth and earnings growth in the past 12 months and over three years, and for the strongest five-year return on equity.
Companies from mainland China, Hong Kong and Taiwan account for 65% of this year’s Forbes Asia’s ‘Best Under A Billion’ list, a record high for the list of the top 200 publicly traded companies in the Asia-Pacific region. Of the 200 companies, 116 are new on this year’s list.
A total of 98 companies from China and Hong Kong made it to this year’s list, up from 84 the previous year.
The full list can be found at http://www.forbes.com/asia200/list/ and in the latest issue of Forbes Asia.