RIL in world’s 100 most respected companies: WSJ

RIL in world’s 100 most respected companies: WSJ
PTI
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First Published: Sun, Sep 07 2008. 11 31 AM IST
Updated: Sun, Sep 07 2008. 11 31 AM IST
New York: The much touted BRIC pack accounts for less than 10% of the world’s 100 most respected countries, whereas the US and UK are home to nearly half of them, according to their latest rankings compiled by the American business daily Wall Street Journal (WSJ).
While billionaire Mukesh Ambani-led Reliance Industries (RIL) is the only Indian company on the list, there are four firms from Russia and two each from China and Brazil.
The US has the largest representation of 38 companies, followed by 11 from the UK.
The list has been topped by US-based global healthcare products major Johnson and Johnson, which is followed by another American FMCG giant Procter & Gamble, Japanese auto maker Toyota Motor, legendary investor Warren Buffett-led Berkshire Hathaway and technology giant Apple in top five.
Besides, Google (6th), Wal-Mart (7th), Coca-Cola (8th), PepsiCo (9th) and Nestle (10th) also figure among the top- ranked companies.
n the top 10 itself, eight are from the US, except for Toyota and Switzerland’s Nestle.
However, the Indian entry RIL at its 83rd position has outranked two American giants Citigroup (99th) and American International Group or AIG (95th). Citigroup and AIG have slipped from their 53rd and 30th positions in the previous year’s rankings. RIL was not on the list in 2007.
RIL has also been ranked ahead of big global names like Mitsubishi UFJ Financial of Japan, Suez and France Telecom and BNP Paribas from France, British American Tobacco from the UK.
The two Chinese companies Cnooc (93) and China Construction Bank (94) and four Russian companies Sberbank Rossia (96th), Rosneft (97th), Lukoil Holdings (98th) and Gazprom(100th), are ranked below RIL.
However, the two Brazilian entities - Petroleo Brasileiro at 52nd and Companhia Vale do Rio Doce (CVRD) at 59th place are better placed than the Indian entity.
The list includes three entities led by Indian-origin people - food and beverages major PepsiCo headed by Indra Nooyi (9th), Vikram Pandit-led Citigroup and steel tycoon Lakshmi Mittal-led ArcelorMittal (60th).
Besides, the 11 UK firms on the list also include telecom major Vodafone, which was led by India-born businessman Arun Sarin till earlier this year.
Among the top-ranked companies, Buffett-led Berkshire Hathaway has slipped from its first position last year, while J&J has moved up from its second place in 2007 list.
Toyota has retained its third place, while Apple and P&G have improved on their previous year rankings.
As part of the fourth annual survey, Wall Street Journal asked money managers to indicate the degree to which they respect or don’t the 100 largest publicly traded companies, as measured by total market value.
According to the survey, 74% respondents said that they ‘highly respect’ J&J, 23% said they ‘respect’, 3% per cent said ‘respect somewhat´ and none said they ‘don’t respect´ the company making it top-ranked company.
About RIL, 4% considered the company as ‘highly respected’, 17% said they ‘respect´ it, 46% responded saying they ‘respect somewhat´, while 11% said they ‘don’t respect´ the firm.
WSJ said it has assigned a point each to the four categories to determine mean scores, using the percentage of highly respect to break ties. Last year’s top four winners reappear at the top this year, but in different order,” WSJ said.
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First Published: Sun, Sep 07 2008. 11 31 AM IST
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