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NZX has been selected as one of the top performing companies in the Asia Pacific region for the fourth year in a row, making it into the elite Forbes Best Under a Billion list for 2010.
“Representing New Zealand on the Forbes Best Under a Billion list is testament to the tireless work of the team at NZX, in Auckland, Feilding, Wellington and Melbourne, and their fundamental belief that what we do in New Zealand can, and does, matter,” said NZX Chairman Andrew Harmos.
“The board is tremendously proud of our people and the vision of our leadership team. I would like to publicly acknowledge our people and our shareholders for their commitment to the organisation, its place in New Zealand, and New Zealand’s place globally,” said Harmos.
Forbes recognises the investments being made by NZX into the securities, energy and agricultural sectors. Forbes have made their final selection a month before NZX launches its Whole Milk Powder future.
“New Zealand is recognised as the dairying capital of the world. NZX aims to turn that recognition into tangible benefits for our agricultural sector, our markets and ultimately, the wider economy. Over time, dairy futures trading will bring skilled jobs to New Zealand, and will enable our dairy sector to better manage its cash flow and risk,” said NZX CEO Mark Weldon.
NZX’s new clearing house is also set to go live on Monday, bringing world standard technology to New Zealand markets.
The annual Forbes Best Under a Billion list picks the top-performing 200 firms from almost 13,000 publicly listed Asia Pacific companies with actively traded shares and sales between $US5 million ($NZ 6.97 million) and $US1 billion ($NZ1.39 billion).
Selection of the final 200 was based on earnings growth, sales growth, and shareholders return on equity in the past 12 months and over three years.
