Forbes says aluminium producer Press Metal Aluminium Holdings Bhd makes its debut on the list with a market capitalisation of US$4.7 billion.

KUALA LUMPUR: Press Metal Aluminium Holdings Bhd and Batu Kawan Bhd have made it into Forbes Asia’s Fabulous List of 50 best publicly-traded big companies in Asia Pacific.

The Fab 50 companies are selected from a pool of 1,744 public companies in the region with at least US$2 billion in annual revenue and have been listed for at least a year.

This year’s list is dominated by companies from China and also features 17 new entrants.

Aluminium producer Press Metal makes its debut on the list with a market capitalisation of US$4.7 billion, Forbes said in a statement today.

It said the Malaysian company, started by chief executive officer Koon Poh Keong and his six brothers, had generated US$2 billion in annual revenue with a net profit of US$138 million last year.

“Since investing a total of US$1.2 billion in its two aluminum  smelting plants in Sarawak, Press Metal has a capacity of 760,000 tonnes a year, the largest in Southeast Asia,” said Forbes.

Press Metal also scored another Forbes achievement as Koon is featured on the cover of the latest issue of Forbes Asia.

Batu Kawan, meanwhile, kept its place in the Forbes Asia’s Fab 50 list.

Boasting a market capitalisation of US$1.8 billion, the chemical manufacturing, transportation, property investment and plantations company was founded on December 9, 1965 and is headquartered in Ipoh, Perak.

Forbes said loss-making companies or those with less revenue than they had five years ago do not qualify for the list.

The list also excludes companies that have a high debt ratio, are more than 50 per cent state-owned or more than 50 per cent-owned by listed parents.

Companies are then analysed according to more than a dozen financial measures.

“The goal is to highlight well-run entrepreneurial outfits, an honour roll of high-performing blue chips, the region’s best of the best,” it said.

Once again, the two most valuable companies on the list are Tencent and Alibaba.

The Chinese Internet giants boast vastly greater market capitalizations and enjoy far higher profits than any of the other companies on the list.

Tencent’s net profit soared 71 per cent last year to US$10.6 billion, while Alibaba’s climbed 49 per cent to US$9.7 billion.