Maxxis a ‘Fab 50’ company
The Forbes ‘Asia’s Fab 50’ ranks the “best of Asia Pacific’s biggest listed companies,” and this year’s list has been described by the business magazine as a “roll call of outfits that have managed to thrive amid decelerating growth in Asia and all but nonexistent growth in their US and European markets.” For 2012, Forbes has added Cheng Shin Rubber Ind., manufacturer of the Maxxis tyre brand, to the list. At present Maxxis is the only tyre brand represented in the Fab 50 table.
In selecting its Fab 50, the publication examined 1,295 publicly traded Asian companies with annual revenues or market cap of US$3 billion or more. Based in Taiwan, Cheng Shin Rubber, or Maxxis International, reported global sales of US$4.2 billion in 2011. Companies were judged on revenue, earnings, return on capital, share-price movements and outlook. The magazine eliminated companies that carried excess debt, firms with 50 per cent or more of shares owned by a government and local operations of multinational corporations.
Maxxis has expressed its thanks to Forbes for this recognition and also extended its appreciation to its more than 22,000 employees around the world, who it describes as are “the foundation of the company’s success.”