The Financial Express

Three Bangladeshi firms on Forbes list

| Updated: December 06, 2020 18:45:04

Evaly and Fianancial Express Evaly and Fianancial Express
Three Bangladeshi firms on Forbes list

Three Bangladeshi firms have entered into the greatly desired Forbes list of under US$ 1.0 billion company for 2020 for Asia and the Pacific region.

They are: Square Pharmaceutical Company Limited (founded in 1958), Renata (1972) and Fortune Shoes (2010).

The FE print version, however, has inadvertently mentioned two companies in the coveted list missing Fortune Shoes and regretted.

The annual list named “Forbes Asia and the Pacific best under one billion list this year--2020” recognises 200 top-performing small and medium companies in the Asia-Pacific region with sales under US$1.0 billion.

Forbes is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. The magazine is well known for its lists and rankings, including of the richest Americans (the Forbes 400), of the America's Wealthiest Celebrities, of the world's top companies (the Forbes Global 2000), Forbes list of The World's Most Powerful People, and The World's Billionaires.

However, the Forbes list said Square Pharmaceutical Company of Bangladesh, involved in drug and chemical business, has sales volume worth $512 million.

The local pharma’s market capital is $1.7 billion. Its net income is $150 million and has employed 9,234 people.

The sales of another drug maker ---Renata --- are $271 million. Its market capital is $1.1 billion. The company’s net income is $45 million and it is employing 7,324 people.

Fortune Shoes is comparatively newly formed company in Bangladesh, involved in shoe making business. It has sales worth $18 million.

Its net income is $3.0 million while the market capital is $28 million and the company has employed 1,723 people.

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