The country’s largest electric utility company, TNB (Tenaga Nasional Berhad) appear to have moved up in the latest Forbes 2000 ranking.
As of today, it is ranked in 550th place, jumping more than 150 places compared to its previous ranking of 709th.
Its rise to the present ranking is mainly attributed to the upswing in the domestic economy, as well as a concerted effort by the management to break into the top 500.
However, it is predicted that the company will find it extremely difficult to maintain the latest ranking due to the increase of coal prices, more expensive alternative fuels, and insufficient gas supply.
More than 20 Malaysian companies are listed in Forbes Global 2000, led by oil giant Petronas. TNB is third with a total sales of US9.6 billion, assets amounting to US$23.6 billion and market value of US$11.1 billion.
Published by the Forbes magazine, the Forbes 2000 is an annual ranking of the largest publicly traded companies that use 4 different sets of metrics, namely sales, profits, assets and market value. The list has been produced yearly since 2003.