Dairy giant Vinamilk is the only Vietnamese company to land a spot on latest Nikkei Asian Review’s Asia300, an exclusive list of the most powerful and valuable listed companies in the region.
The Southeast Asian country’s largest dairy producer, officially named Vietnam Dairy Products, ranked eighth on the list, rubbing shoulders with such regional giants as Alibaba Group Holding and Tencent Holdings, according to the rankings released on Thursday.
Founded in 1976, Vinamilk originally entered the market selling exclusively condensed milk, once considered a luxury good, at affordable prices. Since then, the company has become “a pioneer in Vietnam's dairy industry and has persuaded generations of Vietnamese to make milk part of their diet,” Nikkei Asian Review said in a report on Thursday.
Having solidified a firm grip on the domestic market, Vinamilk is now casting an ambitious eye on furthering its international expansion.
As of December 2016, the company’s products were being sold in 42 countries, raking in an overseas revenue of around VND4.4 trillion ($193 million) in the first half of the year. Vinamilk has a sales network of 220,000 retailers, more than any other food processor in Vietnam.
Topping the Asia300 ranking of power performers is Taiwan’s Largan Precision, the world’s leading smartphone camera supplier, followed by India’s HCL Technologies.
Indian companies occupied as many as ten spots in the list’s top 30, outplaying their Chinese and Southeast Asian peers.
The Asia300 is Nikkei’s exclusive list of the 327 biggest and fastest-growing companies from 11 economies across the continent, excluding Japan.
The rankings are compiled based off four factors: growth, profitability, efficiency, and financial soundness.
Below is the top ten of the Asia300 Power Performers Ranking