Forbes Asia magazine has named injection press maker Chen Hsong Holdings Ltd. as one of the 200 best companies in the Asia-Pacific region with less than $1 billion in annual sales.
Chen Hsong said it is the only plastics machinery maker named to the ``Best Under a Billion'' list, published in the magazine's Oct. 31 issue. The list covers publicly held companies.
``The Asia-Pacific region is alive with small and medium-sized enterprises that reward not only their founder and other insiders but also public shareholders,'' the magazine said.
Forbes said the Hong Kong-based company generated net profit of US$33 million on sales of US$239 million for fiscal 2005, which ended March 31. Its market value was $319 million, according to Forbes.
To make the list, companies were required to show positive earnings growth during the past five years. The New York-based magazine asked for a pretax profit margin of at least 5 percent in the latest fiscal year - pretax because tax laws can vary widely between countries in the region and make it unfair to compare after-tax numbers.
The magazine said it rewards steady performers: ``We valued both growth and consistency. Thus, in tech-heavy Asia, only a handful of computer electronics firms, which tend to go through boom-and-bust cycles, made the list.'' Forbes said nearly all of the best Asian companies paid dividends, unlike U.S. firms that make the Forbes 200 Best Small Companies list.
