TNB Jumps to 550th Spot in Forbes Global 2000 Ranking

27/04/2011

Tenaga Nasional Berhad (TNB) leapt 159 spots to rank as the 550th world’s biggest company in this year’s list of Forbes Global 2000.

Forbes Global 2000 is an annual listing of 2000 of the world’s biggest corporations issued by Forbes. It uses an equal weighting of sales, profits, assets and market value to rank companies according to size.

Of the 20 Malaysian companies listed in Forbes Global 2000 for 2011, TNB was placed third with sales of US$9.6 billion, assets of US$23.6 billion and market value of US$11.1 billion.

“Electricity demand growth in line with the upswing in the domestic economy and the enhanced operational efficiencies push our ranking back into the 500 range this year from 709th in 2010,” said TNB President/Chief Executive Officer, Dato’ Sri Che Khalib Mohamad Noh.

“It will be a challenge to remain at this spot next year given the rising coal prices, insufficient gas supply and comparatively more expensive alternative fuels,” he added.