Asia’s Best Companies Poll 2025: Market winners | FinanceAsia

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On:
In: Asia, Finance, South-East Asia

For a 25th year, FinanceAsia publishes its highly regarded benchmark of Asia’s best companies.

Based on nomination by Asia’s active community of influential investors and financial analysts, the poll evaluates the corporate behaviour and performance of Asian peers over the past 12 months.

The FA team is delighted to announce the 2025 winners below for the market categories.The industry winners can be found here. 

Once again, following positive market participation, we have decided to award up to three medals per category to reflect corporate achievements. Gold, Silver and Bronze medallists are detailed where applicable.

Congratulations to all the winners. Read on for the winning companies in the following markets:  

BEST MANAGED COMPANY

China
Gold – China Unicom (Hong Kong) Ltd
Silver – China Telecom
Bronze – China Mobile

Hong Kong SAR

Gold – Sun Hung Kai Properties Ltd

Silver – Link REIT

Silver – Sino Land

Bronze – MTR Corporation Limited

 

India

Gold – Tata Motors

Silver – Axis Capital

Bronze – Bajaj Finance

 

Indonesia

Gold – PT Bank Rakyat Indonesia (Persero) Tbk

Silver – Astra International

Silver – PT Bank Mandiri (Persero) Tbk

Bronze – GoTo Gojek Tokopedia

 

Malaysia

Gold – Maybank

Silver – CIMB Bank Berhad

Bronze – AmFunds Investment Management Berhad

Bronze – YTL Corporation Berhad

 

Philippines

Gold – Ayala Corporation

Silver – Bank of the Philippine Islands

Silver – Megawide Construction Corporation

Bronze – Citicore Renewable Energy Corporation

 

Singapore

Gold – DBS Bank

Silver – Singapore Airlines

Bronze – CapitaLand

 

South Korea

Gold – SK Hynix

Silver – Samsung Electronics

Bronze – Hyundai Motor Co Ltd

 

Taiwan

Gold – Semiconductor Manufacturing Company, Ltd

Silver – CTBC Financial Holding

Silver – MediaTek Inc.

Bronze – Far Eastern New Century Corporation

Bronze – Sercomm Corporation

 

Thailand

Gold – B. Grimm Power PCL

Silver – Global Power Synergy PCL

Silver – Thai Oil Public Company Limited 

Bronze – Central Pattana

Bronze – Gulf Energy Development PCL

 

MOST COMMITTED TO ESG

 

China

Gold – Unicom (Hong Kong) Ltd

Silver – China Telecom

Bronze – China Mobile

Bronze – Trip.com

 

Hong Kong SAR

Gold – Sun Hung Kai Properties Ltd

Silver – Link REIT

Bronze – Hengan International Group Company, Ltd.

 

India

Gold – Axis Capital

Silver – Bajaj Finance

Bronze – Tata Consultancy Services Ltd

 

Indonesia

Gold – PT Bank Mandiri (Persero) Tbk

Silver – PT Bank Rakyat Indonesia (Persero) Tbk

Bronze – GoTo Gojek Tokopedia

 

Malaysia

Gold – Yinson Holdings Berhad

Silver – Maybank

Bronze – AmFunds Investment Management Berhad

 

Philippines

Gold – Ayala Corporation

Silver – Megawide Construction Corporation

Bronze – SM Investments Corporation

 

Singapore

Gold – OCBC Bank

Silver – City Developments Limited

Bronze – Seatrium

 

South Korea

Gold – Samsung Electronics

Silver – Hyundai Motor Co Ltd

Bronze – Hanwha Ocean

 

Taiwan

Gold – Wistron NeWeb Corporation

Silver – CTBC Financial Holding

Bronze – Sercomm Corporation

 

Thailand

Gold – Global Power Synergy PCL

Silver – B. Grimm Power PCL

Bronze – Gulf Energy Development PCL

 

Vietnam

Gold – Vingroup

Silver – Masan Group

Bronze – THACO Group

 

BEST INVESTOR RELATIONS

China

Gold – China Telecom

Silver – China Unicom (Hong Kong) Ltd

Bronze – China Mobile

 

Hong Kong SAR

Gold – Sun Hung Kai Properties Ltd

Silver – Link REIT

Silver – MTR Corporation Limited

Bronze – Midea International Corp Co Ltd

 

India

Gold – ICICI Bank Ltd

Silver – HDFC Bank Ltd

 

Indonesia

Gold – PT Bank Rakyat Indonesia (Persero) Tbk

Silver – GoTo Gojek Tokopedia

Bronze – PT Bank Mandiri (Persero) Tbk

 

Malaysia

Gold – CIMB Bank Berhad

Silver – Maybank

Bronze – Yinson Holdings Berhad

 

Philippines

Gold – Bloomberry Resorts Corporation

Silver – Ayala Corporation

Silver – SM Investments Corporation

Bronze – Meralco

 

Singapore

Gold – CapitaLand

Silver – SATS Ltd

Bronze – Mapletree Investments

 

South Korea

Gold – Hanwha Ocean

Silver – LG Electronics

Bronze – SK Hynix

 

Taiwan

Gold – Wistron NeWeb Corporation

Silver – Far Eastern New Century Corporation

Bronze – Sercomm Corporation

 

Thailand

Gold – PTT Public Company Limited

Silver – B. Grimm Power PCL

Bronze – Global Power Synergy PCL

Bronze – Gulf Energy Development PCL

 

Vietnam

Gold – Vingroup

Silver – Masan Group

Bronze – Mobile World Investment Corporation

 

BEST LARGE CAP COMPANY

 

China

Gold – China Unicom (Hong Kong) Ltd

Silver – China Telecom

Bronze – China Mobile

 

Hong Kong SAR

Gold – Link REIT

Silver – Sun Hung Kai Properties Ltd

Bronze – CLP Holdings Ltd

 

India

Gold – Kotak Mahindra Bank Ltd

Silver – HDFC Bank Ltd

Bronze – Mazagon Dock Shipbuilders Ltd

Bronze – Tata Consultancy Services Ltd

 

Indonesia

Gold – PT Bank Mandiri (Persero) Tbk

Silver – PT Bank Rakyat Indonesia (Persero) Tbk

Bronze – Astra International

 

Malaysia

Gold – Maybank

 

Philippines

Gold – SM Investments Corporation

Silver – International Container Terminal Services, Inc.

Bronze – SM Prime Holdings, Inc.

 

South Korea

Gold – Hyundai Motor Co Ltd

Silver – Hanwha Ocean

Silver – POSCO

Bronze – Samsung Biologics

 

Taiwan

Gold – Taiwan Semiconductor Manufacturing Company, Ltd

Silver – MediaTek Inc.

Bronze – EVA Airways Corporation

Bronze – Far EasTone Telecommunications Co., Ltd

 

Thailand

Gold – Bangkok Dusit Medical Services PCL

Silver – PTT Exploration and Production (PTTEP)

Bronze – Advanced Info Service PCL

 

BEST MID CAP COMPANY

China

Gold – AsiaInfo Technologies Limited

 

Hong Kong SAR

Gold – CIMC Enric Holdings Ltd

Silver – Fortune REIT

 

India

Gold – Prestige Estates Projects Ltd

Silver – ICICI Securities Ltd

 

Indonesia

Gold – GoTo Gojek Tokopedia

 

Malaysia

Gold – Sunway Berhad

Silver – YTL Corporation Berhad

Bronze – Hap Seng Consolidated Berhad

 

Philippines

Gold – Manila Water Company, Inc.

Silver – Jollibee Foods Corporation

Bronze – Aboitiz Power

 

South Korea

Gold – LG Electronics

Silver – KIWOOM Securities

 

Taiwan

Gold – Far Eastern New Century Corporation

Silver – Arcadyan Technology Corporation

Bronze – Elite Material Co Ltd

 

Thailand

Gold – Minor International PCL

Silver – Global Power Synergy PCL

Bronze – WHA Corporation PCL

 

Vietnam

Gold – Vingroup

Silver – Masan Group

Bronze – Mobile World Investment Corporation

 

BEST SMALL CAP COMPANY

 

China

Gold – Digital China Holdings

 

Hong Kong SAR

Gold – Far East Consortium International Limited

Silver – Vitasoy International Holdings Limited

Bronze – SF REIT

 

India

Gold – Aavas Financiers

Silver – Indian Energy Exchange Ltd

 

Malaysia

Gold – Yinson Holdings Berhad

Silver – Top Glove Corporation Berhad

 

Philippines

Gold – Citicore Renewable Energy Corporation

Silver – Bloomberry Resorts Corporation

Silver – Megawide Construction Corporation

Bronze – D&L Industries Inc.

 

Taiwan

Gold – Sercomm Corporation

Silver – Fositek Corporation

Bronze – Merida Industry Co., Ltd

 

Thailand

Gold – Ratch Group PCL

Silver – Bangkok Chain Hospital PCL

Bronze – Central Plaza Hotel PCL

 

Vietnam

Gold – Vinh Hoan Corporation

Silver – CMC Corporation

Silver – International Dairy Products JSC

Bronze – GELEX Group

 

BEST CEO

 

China

Gold – Zhongyue Chen – China Unicom (Hong Kong) Ltd

Silver – Jie Yang – China Mobile

Bronze – Xiaowei Luan – China Communications Services

Bronze – Biao He – China Mobile

 

Hong Kong SAR

Gold – Raymond Kwok – Sun Hung Kai Properties Ltd

Silver – George Hongchoy – Link REIT

Bronze – Shixian Lai  – ANTA Sports Products Ltd

 

India

Gold – Deepak C. Mehta – Deepak Nitrite Ltd

Silver – T.V. Narendran – Tata Steel

 

Indonesia

Gold – Sunarso – PT Bank Rakyat Indonesia (Persero) Tbk

Silver – Darmawan Junaidi – PT Bank Mandiri (Persero) Tbk

Silver – Royke Tumilaar  – PT BNI (Persero) Tbk

Bronze – Ali Rukmijah  – Bank Sahabat Sampoerna

 

Malaysia

Gold – Khairussaleh Ramli – Maybank

Silver – Tony Fernandes  – Capital A Berhad

Bronze – Novan, Amirudin – CIMB Bank Berhad

 

Philippines

Gold – Edgar B. Saavedra – Megawide Construction Corporation

Silver – Teresita Sy-Coson – BDO Unibank

Silver – Oliver Y. Tan – Citicore Renewable Energy Corporation

Bronze – Jeffrey Lim – SM Prime Holdings, Inc.

 

Singapore

Gold – Piyush Gupta – DBS Bank

Silver – Loh Boon Chye – Singapore Exchange

 

South Korea

Gold – Chey Tae-won – SK Group

Silver – Han Jong-hee – Samsung Electronics

Bronze – Kim Seung-youn – Hanwha Group

 

Taiwan

Gold – C. C. Wei – Taiwan Semiconductor Manufacturing Company, Ltd

Silver – Suming, Chen – Universal Microwave Technology, Inc.

Bronze – Vivian Ling – Caliway Biopharmaceuticals Co. Ltd

Bronze – Chee Ching – Far Eastone Telecommunications Co., Ltd

 

Thailand

Gold – Dr. Harald Link – B. Grimm Power PCL

Silver – Niwat Adirek – BCPG PCL

Silver – Sarath Ratanavadi – Gulf Energy Development PCL

Bronze – Dr. Chalerm Harnphanich – Bangkok Chain Hospital PCL

Bronze – Dr. Poramaporn Prasarttong-osoth – Bangkok Dusit Medical Services PCL

 

Vietnam

Gold – Danny Le – Masan Group

 

BEST CFO 

China

Gold – Yuzhuo Li – China Unicom (Hong Kong) Ltd

Silver – Ronghua Li – China Mobile

Bronze – Aqiang Shen – China Communications Services

 

Hong Kong SAR

Gold – Toby Xu – Alibaba Group (HK)

Silver – Alexandre Jean Keisser – CLP Holdings Ltd

 

India

Gold – Samir Seksaria – Tata Consultancy Services Ltd

 

Indonesia

Gold – Sigit Prastowo – PT Bank Mandiri (Persero) Tbk

Silver – Viviana Dyah Ayu Retno Kumalasari – PT Bank Rakyat Indonesia (Persero) Tbk

Bronze – Henky Suryaputra – Bank Sahabat Sampoerna

 

Malaysia

Gold – Malique Firdauz Ahmad Sidique – Maybank

Silver – Joyce Tan  – Sunway Berhad

Bronze – Chek Wu Kong – Duopharma Biotech Berhad

Bronze – Guillaume François Jest – Yinson Holdings Berhad

 

Philippines

Gold – John Nai Peng Ong – SM Prime Holdings, Inc.

Silver – Jez G. dela Cruz – Megawide Construction Corporation

Bronze – Estella Tuason-Occeña – Bloomberry Resorts Corporation

Bronze – Richard Shin – Jollibee Foods Corporation

 

Singapore

Gold – Yuen Kuan Moon – Singtel

Silver – Koo Chung Chang  – AIA Group

Bronze – Lim Hock Chye – Keppel Corporation

 

Taiwan

Gold – Henry Hao Jen Wang – Fubon Bank

Silver – Wendell Huang  – Taiwan Semiconductor Manufacturing Company, Ltd

Bronze – David (Chien Cheng) Wang  – Far Eastern New Century Corporation

 

Thailand

Gold – Chanamas Sasnanand – PTT Exploration and Production (PTTEP)

Silver – Yupapin Wangviwat – Gulf Energy Development PCL

Bronze – Siriwong Borvornboonrutai – B. Grimm Power PCL

 

Vietnam

Gold – Max Sunarcia – THACO Group

Silver – Do Thi Quynh Trang  – Masan Group

 

BEST COO

 

China

Gold – Jian Qin – China Unicom (Hong Kong) Ltd

Silver – Zhanwei Cui – China Communications Services

 

Malaysia

Gold – Ariff Azahar  – Maybank

 

Philippines

Gold – Carlos Cruz – International Container Terminal Services, Inc.

 

South Korea

Bronze – Nam Seok-Woo  – Samsung Electronics

 

Taiwan

Gold – Tungyi Wu – Universal Microwave Technology, Inc.

Silver – Ben Lin – Sercomm Corporation

Bronze – Jeffrey Gau – Wistron NeWeb Corporation

 

Thailand

Bronze – Nopadej Karnasuta – B. Grimm Power PCL

 

Vietnam

Silver – Metha Pingsuthiwong – Tisco Group

 

BEST CTO

China

Gold – Jun Zhi, Wang – China Unicom (Hong Kong) Ltd

 

Taiwan

Gold – Jyh-Shing Roger Jang – E-Sun

 

Thailand

Bronze – Woottichai Jarernpol  – Krungthai Card PCL

 

Indonesia

Gold – Arga M. Nugraha  – PT Bank Rakyat Indonesia (Persero) Tbk

 

Thailand

Gold – Dennis Thorsten Trawnitschek – SCB X PCL

 

Taiwan

Silver – Chris Lin – Taiwan Semiconductor Manufacturing Company, Ltd

 

Thailand

Silver – Sutthikan Rungsrithong – TMBThanachart Bank Plc.

 

MOST COMMITTED TO DEI

 

China

Gold – China Telecom

Silver – China Mobile

Bronze – China Communications Services

 

Hong Kong SAR

Gold – Sun Hung Kai Properties Ltd

Silver – Henderson Land Development Co., Ltd

Bronze – Link REIT

 

India

Gold – Travelogy India Pvt Ltd

 

Indonesia

Gold – PT Bank Mandiri (Persero) Tbk

Silver – PT Bank Rakyat Indonesia (Persero) Tbk

Bronze – GoTo Gojek Tokopedia

 

Malaysia

Gold – CIMB Bank Berhad

Silver – Maybank

Bronze – Top Glove Corporation Berhad

 

Philippines

Gold – Citicore Renewable Energy Corporation

Silver – Ayala Corporation

Bronze – International Container Terminal Services, Inc.

 

South Korea

Gold – Hanwha Ocean

Silver – Samsung Electronics

Bronze – SK Hynix

 

Taiwan

Gold – Wistron NeWeb Corporation

Silver – CTBC Financial Holding

Bronze – Sercomm Corporation

 

Thailand

Gold – Gulf Energy Development PCL

Silver – Global Power Synergy PCL

Bronze – B. Grimm Power PCL

 

Vietnam

Gold – Vingroup

Silver – Mobile World Investment Corporation

Bronze – Masan Group

 

BEST USE OF TECHNOLOGY

China

Gold – China Unicom (Hong Kong) Ltd

Silver – China Telecom

Bronze – China Mobile

 

Hong Kong SAR

Gold – CIMC Enric Holdings Ltd

Silver – Hongkong Land Holdings Limited

Bronze – Swire Properties

 

India

Gold – Dito Telecommunity Corporation

Silver – Sun Telecommunication

 

Indonesia

Gold – GoTo Gojek Tokopedia

Silver – PT Bank Rakyat Indonesia (Persero) Tbk

Bronze – Telkom

 

Malaysia

Gold – KPJ Healthcare Berhad

Silver – Yinson Holdings Berhad

Bronze – Uzma Berhad

 

Philippines

Gold – Bank of the Philippine Islands

Silver – Union Bank

Bronze – Globe Telecom, Inc.

 

South Korea

Gold – Samsung Biologics

Silver – Hanwha Ocean

Bronze – SK Hynix

 

Taiwan

Gold – Sercomm Corporation

Silver – MediaTek Inc.

Bronze – Taiwan Semiconductor Manufacturing Company, Ltd

 

Thailand

Gold – SCB X PCL

Silver – Advanced Info Service PCL

Bronze – TMBThanachart Bank Plc.

 

Vietnam

Gold – Vingroup

Silver – Masan Group

Bronze – FPT Corporation

 


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Asia’s Best Companies Poll 2025: Industry winners | FinanceAsia

By:
On:
In: Asia, Finance, South-East Asia

For a 25th year, FinanceAsia has published its highly regarded benchmark of Asia’s best companies.

Based on nomination by Asia’s active community of influential investors and financial analysts, the poll evaluates the corporate behaviour and performance of Asian peers over the past 12 months.

The FA team is delighted to announce the 2025 winners below for the industry categories. The market winners can be found here. 

Following very positive market participation, we have decided to award up to three medals per category to reflect corporate achievements. Gold, Silver and Bronze medallists are detailed where applicable.

Congratulations to all our industry winners: 

AUTOMOTIVE & COMPONENTS

India

Gold – Tata Motors

 

Indonesia

Gold – Astra International

 

Malaysia

Gold – Perodua

 

Philippines

Gold – GT Capital

Silver – NWow 

 

Taiwan

Gold – Wistron NeWeb Corporation

 

Vietnam

Gold – THACO Group

Silver – Vingroup

Bronze – Dat Bike

 

 

BASIC MATERIALS

 

India

Gold – Tata Steel

 

Philippines

Gold – Semirara Mining

Silver – Nickel Asia

Bronze – Apex Mining

 

Vietnam

Gold – GELEX Group

Silver – Stavian Chemical

Bronze – Duc Giang Group

 

CONGLOMERATES

Hong Kong SAR

Gold – Sun Hung Kai Properties Ltd

Silver – Jardine Matheson

Bronze – Swire Pacific

 

Malaysia

Gold – YTL Corporation Berhad

Silver – Hap Seng Consolidated Berhad

Bronze – Berjaya Corp

 

Philippines

Gold – Ayala Corporation

Silver – SM Investments Corporation

Bronze – GT Capital

 

South Korea

Gold – Samsung Electronics

 

Taiwan

Gold – Sercomm Corporation

Silver – Yuanta

Bronze – Far Eastern New Century Corporation

 

Thailand

Gold – STECON TB

 

Vietnam

Gold – Vingroup

Silver – Masan Group

Bronze – THACO Group

 

CONSUMER DURABLES & APPAREL

 

Hong Kong SAR

Gold – ANTA Sports Products Ltd

 

Taiwan

Gold – Far Eastern New Century Corporation

 

CONSUMER SERVICES

 

India

Gold – ITC Ltd

 

Philippines

Gold – Bloomberry Resorts Corporation

Silver – Jollibee Foods Corporation

Bronze – Max’s Restaurant

 

South Korea

Gold – Lotte Group

Silver – Hanwha Resort

 

Vietnam

Gold – Vinpearl

Silver – Sun Group

Bronze – Golden Gate Group

 

CONSUMER STAPLES

 

Indonesia

Gold – Indofood Sukses Makmur

 

Philippines

Gold – Universal Robina

Silver – Century Pacific

Bronze – Puregold

 

South Korea

Gold – Lotte Wellfood

Silver – Samyang Foods

Bronze – Dongyang Confectionery

 

Taiwan

Gold – Uni-President Enterprises Corp

 

Vietnam

Gold – Masan Consumer

Silver – Nutifood

Bronze – Bach Hoa Xanh (Mobile World)

 

ENERGY

Hong Kong SAR

Gold – CLP Holdings Ltd

 

Malaysia

Gold – Tenaga Nasional Berhad (TNB)

Silver – Yinson Holdings Berhad

 

Philippines

Gold – Aboitiz Power

Silver – ACEN Corporation

Bronze – Citicore Renewable Energy Corporation

 

South Korea

Gold – POSCO

Silver – SK Group

Bronze – Hanwha Solutions

 

Thailand

Gold – PTT Exploration and Production (PTTEP)

 

FINANCIALS

 

Hong Kong SAR

Gold – HSBC

Silver – Hang Seng Bank

 

India

Gold – Bajaj Capital

 

Indonesia

Gold – PT Bank Rakyat Indonesia (Persero) Tbk

 

Malaysia

Gold – CIMB Bank Berhad

Silver – AmFunds Investment Management Berhad

Silver – Maybank

Bronze – Hong Leong Bank Berhad

 

Philippines

Gold – Bank of the Philippine Islands

Silver – BDO Unibank

Bronze – Security Bank

 

Thailand

Gold – Siam Commercial Bank

Silver – KBANK TB

Bronze – Krung Thai Bank

 

Vietnam

Gold – Vietcombank

Silver – BIDV

 

HEALTHCARE

 

China

Gold – Kelun-Biotech

 

Malaysia

Gold – IHH Healthcare

Silver – KPJ Healthcare Berhad

Bronze – Sunway Berhad

 

Philippines

Gold – Medilines

 

Taiwan

Gold – PharmaEssentia

Silver – Bora Pharmaceuticals

Bronze – Caliway Biopharmaceuticals Co. Ltd

 

Thailand

Gold – Bangkok Dusit Medical Services PCL

Silver – Bangkok Chain Hospital PCL

Bronze – Chularat Hospital (CHG)

Bronze – Praram 9 Hospital (PR9)

 

Vietnam

Gold – Hoan My Medical Corp

Silver – Buymed

Bronze – Long Chau (FPT Retail)

 

INDUSTRIALS

Malaysia

Gold – YTL Corporation Berhad

Silver – Malayan Cement

 

Philippines

Gold – Megawide Construction Corporation

Silver – DMCI

Bronze – EEI Corporation

 

South Korea

Gold – Samsung C&T Corporation

Silver – Hyundai Engineering & Construction

 

Thailand

Gold – CH. Karnchang (CK)

 

Vietnam

Gold – Hoa Phat Group

Silver – Hoa Sen Group

 

INFRASTRUCTURE

 

Malaysia

Gold – Yinson Holdings Berhad

 

Philippines

Gold – Ayala Corporation

Silver – San Miguel

Bronze – DMCI

 

Vietnam

Gold – Deo Ca Group

Silver – Airports Corporation of Vietnam (ACV)

 

MEDIA & ENTERTAINMENT

Malaysia

Gold – Astro

 

Philippines

Gold – ABS-CBN Corporation

Silver – GMA Network

Bronze – The Manila Broadcasting Company (MBC)

 

Thailand

Gold – The One Enterprise (Onee)

 

Vietnam

Gold – Dat Viet Group

 

REAL ESTATE

 

Hong Kong SAR

Gold – Sun Hung Kai Properties Ltd

Silver – Sino Land

Bronze – Hongkong Land Holdings Limited

 

India

Gold – Godrej

 

Indonesia

Gold – Ciputra

Silver – Pakuwon Jati

Bronze – Summarecon

 

Malaysia

Gold – Pavilion REIT

 

Philippines

Gold – Ayala Corporation

Silver – Bloomberry Resorts Corporation

Silver – SM Prime Holdings, Inc.

Bronze – AREIT Inc.

 

Thailand

Gold – Central Pattana 

Silver – Land and Houses (LH)

Bronze – Pruksa Holding PCL

 

Vietnam

Gold – Vinhomes

Silver – Sun Group

Bronze – Nam Long

 

RENEWABLE ENERGY

 

Malaysia

Gold – Yinson Holdings Berhad

 

Philippines

Gold – Citicore Renewable Energy Corporation

Silver – ACEN Corporation

Bronze – Aboitiz Power

 

Thailand

Gold – Gulf Energy Development PCL

Silver – Global Power Synergy PCL

Bronze – B. Grimm Power PCL

Bronze – BCPG PCL

 

Vietnam

Gold – Bamboo Capital Group

Silver – Refrigeration Electrical

Bronze – The Green Solutions

 

 

RETAIL

 

Philippines

Gold – Robinson’s

 

South Korea

Gold – NAVER

Silver – Coupang

 

Taiwan

Gold – PCSC

Silver – Poya

Bronze – Great Tree

 

Thailand

Gold – Central Retail Corp (CRC)

Silver – Moshi Moshi Retail Corp

 

Vietnam

Gold – Imex Pan Pacific Group

 

TECHNOLOGY

China

Gold – Alibaba

Silver – Tencent

Bronze – Baidu

Bronze – Trip.com

 

Indonesia

Gold – GoTo Gojek Tokopedia

 

Philippines

Gold – IMI

Silver – NOW

 

Taiwan

Gold – Sercomm Corporation

Silver – Wistron NeWeb Corporation

Bronze – Arcadyan Technology Corporation

 

Thailand

Gold – Be8

Silver – Bbik

 

Vietnam

Gold – MoMo

Silver – FPT Corporation

 

 

TELECOMMUNICATION SERVICES

 

China

Gold – China Mobile

Silver – China Telecom

Bronze – China Unicom (Hong Kong) Ltd

 

Indonesia

Gold – Telkom

Silver – Indosat

Bronze – Telkomsel

 

Malaysia

Gold – CelcomDigi

 

Philippines

Gold – Globe Telecom, Inc.

Silver – CNVRG

Bronze – PLDT

 

South Korea

Gold – SK Group

Silver – LG

Bronze – KT

 

Taiwan

Gold – Far EasTone Telecommunications Co., Ltd

Silver – Chunghwa Telecom

Silver – Taiwan Mobile

Bronze – Sercomm Corporation

 

Thailand

Gold – TRUE TB

Silver – AIS

 

Vietnam

Gold – Viettel

Silver – VNPT

 

TRANSPORTATION

Hong Kong SAR

Gold – Cathay Pacific Airways

 

Indonesia

Gold – Kereta Api Indonesia

 

Philippines

Gold – International Container Terminal Services, Inc.

Silver – Cebu Air

Bronze – Lorenzo

 

South Korea

Gold – Korean Air

 

Thailand

Gold – Bangkok Expressway & Metro (BEM)

Silver – Namyong Terminal (NYT)

Bronze – SJWD

 

Vietnam

Gold – ACV

Silver – Vietjet

 

UTILITY SERVICES

 

Indonesia

Gold – Perusahaan Listrik Negara

 

Philippines

Gold – Manila Water Company, Inc.

Silver – Meralco

Bronze – Aboitiz Power

 

Thailand

Gold – Gulf Energy Development PCL

Silver – Global Power Synergy PCL

Bronze – B. Grimm Power PCL

Bronze – CK Power (CKP)

 


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China stocks back as US exceptionalism fades away – Asia Times

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On:
In: Asia, Finance

As US exceptionalism seems to be waning, the age of Wall Street dominating global markets with unwavering confidence is waning. China is poised to capitalize on this change.

A jumble of forces, including huge advances in artificial intelligence and an undervalued equities market, are influencing how China’s stock market is perceived as more attractive than its American counterpart.

Investors have clung to the notion that the US market was uniquely positioned to withstand outside shocks, with tech giant guiding an extraordinary business increase, for years. The so-called” Beautiful Seven” rose, thanks to AI hype, ease of money, and America’s perceived financial resilience. &nbsp,

However, business cycles don’t last long, and the modification that is currently affecting US stocks represents a turning point. &nbsp,

Under President Donald Trump, the S&amp, P 500, and Nasdaq have all slammed into correction territory, falling under the mass of concerns about trade wars and worsening governmental outlooks. &nbsp,

China’s MSCI Index, meanwhile, has experienced its best performance on record, growing by nearly 20 % since the start of the year.

Trump’s taxes have created new doubt in the US market. His extreme stance on trade, which the markets immediately perceived as bluster, is now causing actual disruptions. &nbsp,

Investors who previously found pleasure in American hegemony are being forced to consider protectionist plans ‘ effects, especially as inflation challenges rise. &nbsp,

As taxes increase prices and weaken global supply chains, the threat of stagflation is growing. It is a dangerous combination of slowing development and price increases.

The US Federal Reserve’s ability to intervene becomes restrained, leaving US businesses in an extremely prone position, if development stagnates while prices rise.

China, in comparison, is giving Wall Street something that it already lacks: new speed. With the rise of AI, a business that has been plagued by governmental repression and economic stagnation is resurrected. &nbsp,

The launch of DeepSeek’s R1 design earlier this year has rekindled investor confidence in China’s technological prowess. China’s AI industry offers broader, less expensive options than the US, where AI opportunities have been concentrated in a few already-inflated tech giant. &nbsp,

Foreign businesses that were once shunned by investors are now positioned for significant progress, despite government policy actively encouraging development and growth.

The pricing of Chinese stocks also affects the hinge. Over the past five decades, US tech names have become wildly cheap, but China’s equities have remained stagnant. Investors who see a market on the verge of a rebound are now finding that cheap to be attractive. &nbsp,

After centuries of driving US indices up and up, The Magnificent Seven are no longer a one-way wager. As the stock market is slack as the economy worries, profits are uncertain, and political headwinds grow, there is more of it.

The previously unshakeable trust in these business titans is waning, and Wall Street is now projected to continue to rise unchallengedly.

Then there is the overall financial photo. While the US’ GDP increased by 2.8 % in 2024, it had a price to pay for it. The governmental deficit ballooned, debt worries grew bigger, and market sentiment grew more nervous. &nbsp,

Trump’s first few months in office have been marked by a sharp focus on fiscal tightening, a move toward poverty that could further stymie growth. &nbsp,

In contrast, China’s economic policies lean toward signal, ensuring that major industries receive funding, and halting the US’s market fear of stagnation.

Global traders are taking notice. A new turning point has been reached with the redistribution of money from US equities to Chinese stocks. The storyline of where the next big possibilities lie is changing as well as business leadership is changing. &nbsp,

The notion of unquestioned American monetary supremacy is fading even as Wall Street continues to be a formidable force. Long-forgotten, China’s areas are demonstrating that they still have the ability to surprise and exceed.

The story of US individualism has been a driving force for years in international investing. However, narratives change, and markets are continuous.

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How a US rate cut would ripple and wash through Asia – Asia Times

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February’s US prices record has given the Federal Reserve the room it needs to cut rates—and it may soon taking that action. With year-on-year inflation slowing to 2.8 %, down from 3 % in January, and monthly price growth decelerating, the Fed is under increasing pressure to act. &nbsp,

If it does, the results will resound across international markets, including Asia, where shifting financial situations will alter economies, currencies, and investments. A possible charge cut from the world’s most powerful central banks had so mark a turning level. &nbsp,

For more than a year, Eastern markets have contended with a strong money, forcing central banks to tighten policy to help their economies and curb inflation. If the Fed moves, that stress may comfortable.

Politicians in India, Indonesia and South Korea—previously hesitant to reduce rates—could have room to release economic conditions to help growth.

A weaker money is one of the most immediate outcomes. As price differentials small, the greenback’s dominance may probably diminish, lifting Asian currencies. The renminbi, which has been under stress due to policy difference with the Fed, may develop.

The Chinese rmb, facing challenges from Beijing’s economic change, does stabilize. This shift may offer relief to import-heavy markets and increase trade balances.

For capital markets, the repercussions are important. A Fed hinge may revive investor hunger for emerging markets, leading to new inflows into Asiatic stocks. India and Southeast Asia, with their strong progress stories, stand to benefit, while Hong Kong—long weighed down by outflows—could see a return in attitude. &nbsp,

Lower saving fees will help businesses, especially those in engineering and consumer businesses, which have struggled under high interest rates.

However, there are complexities. A Fed move to ease policy will not resolve all of Asia’s challenges. China, the region’s largest economy, continues to grapple with weak domestic demand and real estate troubles. While a softer dollar may ease liquidity concerns, sustained recovery will depend on Beijing’s policy choices.

Trade risks remain high. The potential rate cuts come as the US shifts toward a more protectionist stance. Trump’s renewed tariff threats on China introduce fresh uncertainty. Even if monetary easing boosts demand, tighter trade conditions could offset those benefits by disrupting supply chains and raising costs.

Commodities markets will react swiftly. A weaker dollar often fuels rallies in oil and industrial metals—key imports for Asia’s manufacturing economies.

While this could raise input costs, it may also indicate stronger demand, benefiting resource-rich nations like Indonesia and Australia. China, the world’s largest commodities consumer, will be closely watching these shifts.

For corporate borrowers, financing conditions will improve. Many Asian firms carry dollar-denominated debt, and a weaker US currency, combined with lower global borrowing costs, would ease repayment burdens. &nbsp,

This could, I believe, unlock delayed investment and support expansion, particularly in real estate and infrastructure sectors.

Bond markets will adjust quickly. As US Treasury yields decline, Asian fixed-income markets will look more attractive. Investors searching for yield will turn to local bonds, potentially lowering borrowing costs for governments and corporations across the region.

The banking sector in Asia is also likely also see changes. A lower interest rate environment in the US would encourage capital flows into emerging markets, reducing pressure on Asian lenders.

Lower borrowing costs may prompt increased credit growth, particularly in economies with robust banking sectors like Singapore and South Korea. But financial institutions must remain cautious about excessive risk-taking in a low-rate environment.

The impact on consumers will be mixed. While lower interest rates could stimulate economic activity, they may also fuel asset bubbles in real estate and equities. Countries like China and South Korea, where housing affordability is already a concern, will need to manage the risk of excessive price surges. &nbsp,

In addition, higher household purchasing power due to stronger currencies could provide a boost to domestic consumption, benefiting retailers and consumer-driven industries.

Asia’s policymakers will have to navigate this shifting landscape carefully. While many economies stand to benefit from the Fed’s potential rate cuts, regional central banks must decide how aggressively to adjust their own policies. Some may choose to maintain higher rates to ensure financial stability, while others could seize the opportunity to stimulate growth.

Ultimately, if the Fed cuts rates, Asia’s economic landscape will shift. The era of aggressive tightening is, I suspect, nearing its end, and a new phase of capital flows and risk positioning is beginning. &nbsp,

The Fed’s next move isn’t guaranteed, but the signs are there. Inflation is cooling, economic momentum is slowing, and policymakers are under pressure to act. The moment the Fed pulls the trigger, Asia will, or at least should, have to respond.

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US-Russia detente would dent de-dollarization drive – Asia Times

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The&nbsp, three-year-long NATO-Russian proxy war in Ukraine&nbsp, contributed to the belief that the international community had bifurcated into the West and the&nbsp, World Majority, &nbsp, between, with the results the fight determining which tent will most profoundly shape the global structural change.

This model predisposed observers to think that BRICS, which possibly represents the World Majority, is constantly coordinating de-dollarization policies in order to detach themselves from the West’s economic clutches.

That belief persists to this day despite previous October’s BRICS Summit achieving&nbsp, everything of substantial significance&nbsp, at all, including on the de-dollarization entrance, and leading members like&nbsp, India and Russia&nbsp, immediately confirming in response to&nbsp, Trump’s tariff threats&nbsp, that they’re not creating a new currency.

As it turns out, even before Trump initiated the&nbsp, nascent&nbsp, Russian–US&nbsp,” New&nbsp, Detente“, the international community wasn’t as divided over the past three years as many multipolar enthusiasts thought.

Complex&nbsp, interdependencies&nbsp, kept most of the main players together, including Russia and the West, after Russia continued selling oil, gas, and critical minerals like uranium to the West in spite of their proxy war.

Similar interdependencies account for why Indian External Affairs Minister Subrahmanyam Jaishankar declared in mid-November that” India has never been for de-dollarization” and then reaffirmed this position last week when he said that” we have absolutely no interest in undermining the dollar at all“.

He also said,” I don’t think there is a unified BRICS position on]de-dollarization]. I think BRICS members, and now that we have more members, have very diverse positions on this matter. So, the suggestion or the assumption that somewhere there is a united BRICS position against the dollar, I think, is not borne out by facts”.

The reason why it’s important to draw attention to his latest words is because of the global context within which they were shared as regards the nascent Russian-US” New Détente”.

Putin ‘s&nbsp, recent invitation&nbsp, to American companies to cooperate with Russia on strategic resources, including energy in the&nbsp, Arctic&nbsp, and even rare earth minerals in Donbas, will lead to Russia using more dollars in international trade if anything comes of this.

That would in turn discredit the perception identified earlier in this analysis of Russia actively de-dollarizing, which Putin himself&nbsp, always said&nbsp, that it was forced by sanctions into doing and thus wouldn’t have ordinarily happened on its own.

A thaw in tensions brought about by the US brokering an end to their Ukraine proxy war in a way that meets most of Russia’s interests would therefore naturally see Russia using the dollar again.

To be sure, it’ll still support the creation of platforms like BRICS Bridge, BRICS Clear and BRICS Pay, but these would be aimed at preventing dependence on the dollar more so than advancing de-dollarization per se. The ruble will also continue to be used as Russia’s preferred currency in conducting international trade.

Nevertheless, any breakthrough in Russian-US relations would inevitably disappoint those multipolar enthusiasts who bought into ideologically dogmatic narratives of the&nbsp, New Cold War&nbsp, and consequently believed that Russia would persistently eschew the dollar on principle.

Those who previously criticized India’s pragmatic approach towards the currency, particularly Jaishankar’s comments from mid-November, would then eat crow if Russia ultimately ends up following India’s lead.

Even if Russia is just partially returned to the dollar’s global ecosystem through the lifting of US sanctions on the dollar’s use for facilitating the strategic resource deals that Putin has proposed, then it would likely result in the rest of BRICS moderating their de-dollarization policies as well, if they even had them.

China alone might continue making the most progress in this regard, but even it too has been hesitant to go all-out, also due to its complex interdependencies with the West, including its massive US Treasury holdings.

Russia, India and China’s diverse views towards the dollar show that de-dollarization was always more of a political slogan than a pecuniary imperative, one that only Russia made tangible progress on but only because it was forced to.

They collectively form RIC, the core of BRICS, so whatever they say or do will influence comparatively smaller countries in the bloc. There’s nothing wrong with that though, neither in general nor in this context.

Comparatively smaller countries can’t make major impacts on the global economic or financial systems on their own, and in this particular context, almost all of them with few exceptions still have close trading ties with the US that necessitate them remaining within the dollar’s global ecosystem.

They couldn’t realistically de-dollarize in the way that the most dogmatic ideologues imagined without immense cost to themselves or replacing their dependence on the US dollar with the Chinese yuan.

The most pragmatic approach has always been the one pioneered by India, whereby countries strive to use their national currencies more in trade while diversifying their foreign currency baskets in order to avert dependence on any single unit.

This enables them to strengthen their sovereignty in a meaningful and realistic way without risking the ire of major players by actively dropping their currency and/or actively adopting their rival’s. It’s this balance that will come to define financial multipolarity processes in the future.

This&nbsp, article&nbsp, was first published on Andrew Korybko’s Substack and is republished with kind permission. Become an Andrew Korybko Newsletter subscriber&nbsp, here.

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IWD: The importance of female sustainable finance leaders | FinanceAsia

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In: Asia, Finance, South-East Asia

From a minute departure from the Paris Agreement to an emphasis on oil and gas drilling through declaring an energy emergency, to decisions as relatively small as reintroducing plastic straws, the Trump administration has made an’ economic U-turn’ in the world’s largest economy. The results will ripple across the world, probably sending sustainable financing, second gaining momentum in 2018, up years. &nbsp,

¬ Capitol Media Limited. All rights reserved.

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