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Muslim world's top 100 businesses show strong growth In sales

23-12-2005

KUALA LUMPUR, (Bernama) -- The top 100 businesses in the 57 member countries of the Organisation of the Islamic Conference (OIC) showed a healthy 28.7 percent in aggregate revenue growth of its listed companies over the previous year, indicating a strengthening of economies in the Muslim world.

The findings were released by Dinar Standard, a business strategy e-magazine in its second annual ranking of the top 100 businesses (DS100T) in the OIC member countries.

"This year's ranking continues to recognise the rich diversity of corporate activity in the Muslim world," said Rafi-uddin Shikoh, Editor of Dinar StandardT, in a statement Friday.

"With the tremendous global media interest in the first DS100T ranking, we are confident that the ranking is playing its part in raising the spirit of competitiveness in the region, as well as serving as a means of motivation and pride to the ever-important workforce and corporate leaders alike," he said.

The purpose of the DS100T is to portray as close a picture as possible of the corporate environment in OIC member countries.

It continues to include government and private enterprises, for whom data was verified through public sources, to reflect their disproportionately significant role in the Muslim world economies.

At the same time, more than half of the list comprised publicly listed companies (57 of the 100) representing the growing public markets of the Muslim world.

Saudi Aramco, the world's top oil producer, continues to lead the DS100T as the largest business enterprise of the Muslim world with an estimated 36 percent rise in its revenues from the previous year.

Overall, the energy sector dominates the top of the list with eight of the top 10 being state-owned Integrated Oil & Gas companies.

However, it is the diversified conglomerates that have the highest representation on the list (22 of the 100), with Turkish family owned conglomerates Koc Holding, Sabanci Holding, and Dogus Holding having the highest revenues.

The largest growth companies this year are part of the Orascom Group of Egypt with its publicly listed companies Orascom Telekom recording a 113 percent growth and Orascom Construction recording 98 percent revenue growth compared to the previous year.

Turkish companies continued to lead the list with 25 represented enterprises, followed by 18 from Malaysia, 15 from Saudi Arabia, and 11 from Indonesia.

Other countries represented include the United Arab Emirates, Pakistan, Iran, Nigeria, Morocco, Kazakhstan, Egypt, Bahrain, and Algeria.

The complete DS100T list can be viewed at http://www.dinarstandard.com.

All ranking related inquiries should be sent to ds100@dinarstandard.com.

Dinar StandardT is a business strategy e-magazine addressing the unique challenges and opportunities for businesses in the Muslim world and beyond.

It provides actionable insights, research and resources relating to business strategy topics of innovation, leadership/ management, finance, marketing/ PR, and the Muslim Lifestyle Market.

-- BERNAMA




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