Maxxis named on Forbes' 'Asia Fab 50' list
For the second year running, Cheng Shin Rubber Ind. Co. Ltd, trading as Maxxis International, has been named one of Asia's Fab 50 companies by Forbes magazine.
In explaining Maxxis' inclusion on the list, Forbes cited the company's record revenue in 2012, boosted by demand in emerging markets including Indonesia, China and India. Forbes also noted that Maxxis' net profit grew by 86 per cent last year to $530 million.
Maxxis was one of four Taiwanese firms to make the list, which was published in the September issue of Forbes Asia. To compile the list, Forbes examined 1,220 companies in the Asia-Pacific region with a minimum of $3 billion in annual revenue or market capitalisation. Revenue, earnings, returns on capital, share-price movement and outlook were among the factors considered by Forbes.
Maxxis said it was ‘honoured’ to have been named on the list for a second year and paid tribute to its more than 25,000 employees worldwide “for their enthusiasm, creativity and hard work which make the company’s success possible.”