TNB Continues Ascent In Forbes Global 2000 Ranking

24/04/2009

Tenaga Nasional Berhad’s (TNB) has scaled new heights as the 575th world’s biggest companies in this year’s Forbes Global 2000, a listing of 2000 of the world’s biggest corporations. This was achieved despite the challenging environment faced by TNB, namely sluggish growth in electricity demand, unstable fuel prices and weaker ringgit. The list, which was introduced in 2004, uses an equal weighting of sales, profits, assets and market value to rank companies according to size. “The latest list is a continuous recognition of the excellent progress we have made since 2004 in terms of cost management and value creation,” said TNB President/Chief Executive Officer, Dato’ Sri Che Khalib Mohamad Noh. Of the 19 Malaysian companies listed in Forbes Global 2000 for 2009, TNB is ranked third with sales of US$7.58 billion, assets of US$20.58 billion and market value of US$7.54 billion. The national utility corporation has consistently edged higher in the Forbes Global 2000 list. It was ranked at 681 in 2007, an increase of 91 positions from 2006. In 2008, TNB surged 56 spots to be at the 625th place.