The Stock Exchange of Thailand (SET) announces six Thai listed companies are among “Asia’s 200 Best Under a Billion” this year, ranked by Forbes Asia magazine, reflecting the efficient improvement of Thai small- and medium-sized businesses, which have been able to generate upbeat performances despite crises.
Four of the six firms are on the mainboard, consisting of Lanna Resources pcl (LANNA), Sub Sri Thai pcl (SST), United Palm Oil Industry pcl (UPOIC), and Workpoint Entertainment pcl (WORK), with the other two companies, Master Ad pcl (MACO) and Qualitech pcl (QLT), being listed on the Market for Alternative Investment (mai), Chanitr Charnchainarong, SET Executive Vice President and mai President, said
The six companies have a combined market capitalization of THB 25.12 billion (approx. USD 785 million), Chanitr added.
“It is really noteworthy that Thai six firms are in ‘Asia’s 200 Best Under a Billion’, as they have been screened from 15,000 companies in 15 countries across the Asia-Pacific. This reflects the effectiveness of the small- and medium-sized listings, which have made remarkable performances and returns despite having gone through economic volatility and highly competitive environments. The sales and operating profits of the six firms grew at a compounded rate of almost 50 percent annually over the last three years and their return on equity was 33 percent in 2011,” Chanitr said.
“Asia’s 200 Best Under a Billion” selects from among companies with annual revenues between USD 5 million- USD 1 billion that have been being publicly traded for at least a year, with upbeat sales growth, profit, and return on equity over the last three years and past 12 months. However, this list excludes companies traded with low liquidity and questionable accounts or engaged in legal controversies.