Forbes Asia unveiled its 2026 Best Under A Billion list on August 4, featuring 200 top-performing small and mid-sized publicly listed companies across the Asia-Pacific region, including a record 19 from Malaysia [1, 2, 3, 4, 5].
The list highlights companies with annual sales between US$10 million and US$1 billion, selected from over 19,000 listed firms in Asia-Pacific. Companies are evaluated based on debt, revenue, earnings per share growth, and net asset returns over recent fiscal years [1, 2, 3, 4, 5].
Malaysia’s presence more than doubled compared to previous years, with over half of the nation’s companies benefiting from a boom in the country’s artificial intelligence infrastructure and related technologies [1, 2, 3, 4, 5]. Forbes Asia stated, "The small- and mid-sized companies appearing on this year’s Forbes Asia’s Best Under A Billion list are successfully navigating the challenges of geopolitical tensions and volatile energy markets. The lineup is dominated by businesses that are in step with the fast-evolving tech sector and the global AI boom" [1, 2, 5].
Among the Malaysian debutants is Southern Cable Group, supported by the booming data centre industry, which contributed 15% to its RM1.8 billion revenue in 2025 [1, 2, 5]. The full list of Malaysian companies includes Frontken Corporation Berhad, MN Holdings, Cloudpoint Technology, Kerjaya Group, Kim Loong Resources, Timecom Network, Binastra, Ideal United, AmE, Silvest Solar, Pekat Group, CTOS Digital, Chin Teck, Ulicorp, ITMAX Systems, Powerwell, Multi-Purpose Electronics, and SKB Shutter [3, 4].
China leads the list overall, with 28 companies featured, followed closely by India with 27. Software companies and suppliers of key semiconductor components account for 25% of the qualifiers, while others are capitalizing on the accelerating adoption of electric vehicles and renewable energy through specialized equipment and services [1, 2, 5].
The next Best Under A Billion list is expected in 2027, continuing to spotlight dynamic companies with annual sales between US$10 million and US$1 billion that show strong financial performance and growth in the region [1, 2, 3, 4, 5].
