10 largest Malaysian companies, 6-10
Continued from the top 5 ranking.
6. IOI Corp (RM36.5 billion)
IOI Corporation Berhad or IOI Corp was established in 1969, bearing the first business name of Industrial Oxygen Incorporated Sdn Bhd. As the name sounds, the company began operating in the industrial and manufacturing field before progressively moving to other fields and sectors. Its two most successful businesses today are the plantations and property development.
Today, IOC Corporation is an employer to over 30,000 employees working across more than 15 countries worldwide. IOI is the whole owner of 2 prominent hotels, namely the Marriott Putrajaya Hotel and Palm Garden Hotel. The company was named the second best during the The Edge’s Malaysia Top 10 Property Developers Award in 2005.
7. Tenaga Nasional (RM36.5 billion)
With close to RM70 billion worth of assets, Tenaga Nasional Berhad (TNB) is regarded as the largest power company in Southeast Asia. It provides utility and electricity supply services to a big chunk of Malaysia citizens across the peninsular Malaysia and to some extent, east Malaysia. TNB also has international presence in a few countries including Pakistan, Mauritius, Indonesia and India.
Apart from electricity, TNB, through its subsidiaries, is also involved in the manufacturing of transformers, high voltage cables and switchgears, architectural designs, civil engineering, repair and maintenance, property development, project management services and a few others. The company’s CEO, Che Khalib Mohamad Noh, earned a total compensation of over RM1 million in 2007.
8. MISC (RM31.3 billion)
MISC Berhad, probably the least popular company in the list, was born in the late 60s under the name of Malaysia International Shipping Corporation. Backed by the largest shareholder Petronas, MISC is today one of the largest companies in the shipping line, standing proud with a fleet of over 100 modern vessels with a combined 8 million tons capacity.
MISC is considered an important entity to Petronas, considering its role in transporting petroleum products such crude oil, unleaded gasoline, jet fuel and gas oils. Apart from being a major logistic operator, MISC also provides marine repair services, engineering, construction, marine conversion and other oil and gas production facilities.
9. Genting (RM27.2 billion)
The success of Genting is always synonym with the story of an old chap by the name of Lim Goh Tong who explored some crazy ideas to set up some sort of entertainment on top of a mountain, an idea which eventually turned into reality. Considering his background as a non-English and non-Malay speaking guy (until his death), Genting is quite an example of incredible stories how the impossible was made possible.
Apart from the main holding company (Genting Berhad), Genting Group also has four other companies, all of which are also publicly traded corporations. Genting directors are paid one of the highest compensations around in this country, with its group of directors reported to be earning a massive of more than RM80 million in 2008.
10. Axiata (RM25.8 billion)
The Axiata Group was incorporated in 1992, and was formerly known as TM International. The renaming of TM International to Axiata is to reflect the mission to globalize the business, even though, at one point, one would argue if the move really works.
Axiata targets lowly penetrated, yet emerging markets across the Asia and focuses its core on integrated mobile solutions to its customers. The company has controlling interest in a number of countries including Malaysia (Celcom), Cambodia (Hello), Bangladesh (AKTEL), Indonesia (XL), Sri Lanka (Dialog), Singapore (M1) and Iran (MTCE).