Vietnam’s oil and gas giant PetroVietnam Gas, leading dairy company Vietnam Dairy Products (Vinamilk), state-owned lender Vietcombank, tech giant FPT and largest private enterprise Vingroup have made it to the annual Asia 300 Power Performers rankings compiled by the Nikkei Asian Review.
Vinamilk, in particular, has been ranked 25th while Vietcombank and PetroVietnam are at the 54th and 84th position, respectively.
Rankings are updated based on the latest financial results of 325 of the biggest and fastest-growing companies in the region excluding Japan, providing a benchmark for the performance of major Asian companies. In addition to the overall ranking, the list also gives a breakdown of the five metrics used to calculate the standings, including the five-year average growth in revenue and net profit, return on equity, net profit margin, and the ratio of shareholders’ equity to total assets.
In this fourth annual list, tech companies have once again led the way, securing 11 of the top 20 slots and underscoring how the sector has driven the Asian economy. The industry, according to Nikkei Asian Review, has faced gathering headwinds, including the trade and tech conflict between the US and China.
In the top 50, China/Hongkong has 14 companies, while Vietnam has one along 13 from India, eight from Taiwan, four from Malaysia, and three from South Korea.