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| Forbes 'best' list honours 12 Hong Kong companies ( 21/10/2002 ) | |||||||||
Forbes selected the best 200 based on profitability, earnings and sales growth from among 20,000 non-US companies. Four Hong Hong Kong companies received the honour for the second year running. Fast-food outlet operator Cafe de Coral, e-commerce service provider Global Sources, chemical processor Kingboard Chemical and apparel manufacturer Kingmaker Footwear entered the Forbes list of the world's best companies following their inclusion in 2001. To be named for a second year in a row is a vote of confidence in the Hong Kong companies as they display perseverance in an uncertain global economy. "Although some companies have experienced rough waters over the past few years, such as a slip in sales or earnings, their balance sheets indicate they have the muscle to remain viable entities over the long term," Forbes reported. "Each company on this list has earned its place and is indeed good enough to be called the best." Merle Hinrichs, chairman and chief executive officer of Nasdaq-listed Global Sources, said the award was a strong testament to the company's leadership position and its commitment of continuously delivering value to the community. The company matches buyers and suppliers from around the globe using the internet, magazines, private catalogues and exhibitions. "Fundamental to our success is that we have a deep understanding of buyers and suppliers," Mr Hinrichs said. "We work closely with suppliers to provide buyers with sourcing information in specific verticals, from numerous countries, in the media of their choice." To be considered for the Forbes list companies must be profitable, have earned a minimum 5 per cent net margin over the past 12 months, and have a five year average return on equity of 5 per cent or greater. "We will stay focused, look for opportunities and develop our core business," Mr Pudwill said. Related links:
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