Singapore: Technology firms dominated as Taiwan led China in a list of the best 200 Asian companies with annual revenues of under $1billion, according to the Forbes Asia business magazine.
Taiwan had 41 small and mid-sized companies named as winners against China’s 23, the publication said in a statement unveiling this year’s “Best under a billion” ranking.
Taiwan and China split in 1949 at the end of a civil war but Beijing maintains that Taiwan is part of its territory and has repeatedly threatened to invade the island, should it declare formal independence.
Hong Kong, a special administrative region under China, tied up with economic powerhouse Japan with 22 companies each in the Forbes Asia list.
South Korea had 21 companies on the list, trailed by Singapore with 20, India 17, Australia 12, Malaysia nine, Thailand five, New Zealand four and Pakistan two. The Philippines and Sri Lanka had one each.
Nearly all 41 Taiwanese companies on the list are from the IT domain and 8 out 10 companies are on the overall list which are making their debut this year.