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Large companies play an important role in the country which makes innovation, provide employment opportunities, and contribute to the nation’s development and infrastructures. They have more capital and resources compared with small companies, then can offer higher salaries and bonuses to their employees.
Malaysia is a developing country located in Southeast Asia which known for its mix of Malay, Chinese, Indian and European cultural influences.
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Unlike developed countries (the United States, or China), most of the largest companies in Malaysia are still from the traditional industry like Banking, Financial Services, Healthcare, Aluminum, Telecommunication and so on.
Now, let’s take a look at these largest companies in Malaysia 2024, as shown below.
There are 10 largest companies in Malaysia
1. Maybank
Website: Maybank.com
Market Capitalization: 35.39 Billion USD (Feb 2024)
Share Price: 5.87 USD (Feb 2024)
Revenue: 5.76 Billion USD
Earnings: 2.83 Billion USD
Industry & Services: Banks, Financial Services
Maybank (Malayan Banking Berhad), founded in 1960 by Khoo Teck Puat, is the leading bank in Malaysia and Southeast Asia.
It has been operating at “home markets” of Malaysia, Singapore, and Indonesia, and extending its branches to other countries such as UK, Pakistan, Hong Kong. As of December 2023, It has over 2,600 retail banking branches worldwide and more than 43,000 employees.
Its offers a comprehensive range services across various sectors, as shown below:
- Retail banking and wealth management (provide savings and checking accounts, personal loans, mortgages, and investment products)
- Corporate and investment banking, (cater to the needs of business clients with services such as corporate financing, advisory services, cash management)
- Islamic banking, (provide Shariah-compliant products and services across many of the same categories as conventional banking)
- Insurance and takaful, (offer a variety of insurance products for individuals and businesses)
- Asset management, (offer investment solutions and advisory services for both individuals and institutional investors)
As of February 2024, Maybank has a market capitalization of 35.39 Billion USD. Based on the market capitalization, Maybank is the largest company in Malaysia and the world’s 542th most valuable company.
2. Public Bank
Website: pbebank.com
Market Capitalization: 18.21 Billion USD (Feb 2024)
Share Price: 0.94 USD (Feb 2024)
Revenue: 2.97 Billion USD
Earnings: 1.98 Billion USD
Industry & Services: Banks, Financial Services
Public Bank was founded by Teh Hong Piow in 1966 with its first branch at Kuala Lumpur, Malaysia. On 6 April 1967, Public Bank was listed on Bursa Malaysia.
It provide a comprehensive suite of financial services, involving personal banking, commercial banking, Islamic banking, investment banking, share broking, trustee services, nominee services, sale and management of unit trust funds and general insurance products.
Its objectives is to sustain the position of being the most efficient, profitable and respected premier financial institution in Malaysia. Then, to serve customer better and in line with the evolving needs of customers, the group leverages on the advancement of technology and digital capabilities.
As of February 2024, Public Bank has a market capitalization of 18.21 Billion USD. Based on the market capitalization, Public Bank is the second largest company in Malaysia and the world’s 1001th most valuable company.
3. CIMB Group
Website: cimbclicks.com
Market Capitalization: 14.31 Billion USD (Feb 2024)
Share Price: 1.34 USD (Feb 2024)
Revenue: 4.57 Billion USD
Earnings: 2.02 Billion USD
Industry & Services: Banks, Financial Services
CIMB Bank was incorporated in Malaysia in 1974 and headquartered in Kuala Lumpur. As of 2023, its employees number is over 16,000.
Its services involve banking products and services, investment banking, equities brokerage, research coverage, asset management and so on.
As of February 2024, CIMB Bank has a market capitalization of 14.31 Billion USD. Based on the market capitalization, CIMB Bank is the third largest company in Malaysia and the world’s 1209th most valuable company.
4. Tenaga Nasional
Website: mytnb.com
Market Capitalization: 13.53 Billion USD (Feb 2024)
Share Price: 8.85 USD (Feb 2024)
Revenue: 14.82 Billion USD
Earnings: 0.77 Billion USD
Industry & Services: Electricity, Utility companies, Energy
Tenaga Nasional is a Malaysian state-controlled power company. Its main business is electricity generation and distribution of power throughout the entire country.
As of February 2024, Tenaga Nasional has a market capitalization of 13.53 Billion USD. Based on the market capitalization, Tenaga Nasional is the fourth largest company in Malaysia and the world’s 1267th most valuable company.
5. Petronas Chemicals Group
Website: petronas.com
Market Capitalization: 11.68 Billion USD (Feb 2024)
Share Price: 1.46 USD (Feb 2024)
Revenue: 6.64 Billion USD
Earnings: 0.56 Billion USD
Industry & Services: Chemicals
Petronas Chemicals Group is a dynamic global energy group with presence in over 100 countries. It is vested with all oil and gas resources in Malaysia and is entrusted with the responsibility of developing and adding value to these resources. In the annual Fortune Global 500 list for 2022, Petronas was ranked at 216th. It also ranked 48th globally in the 2020 Bentley Infrastructure 500.
As of February 2024, Petronas Chemicals Group has a market capitalization of 11.68 Billion USD. Based on the market capitalization, Petronas Chemicals Group is the fifth largest company in Malaysia and the world’s 1430th most valuable company.
6. IHH Healthcare
Website: ihhhealthcare.com
Market Capitalization: 11.34 Billion USD (Feb 2024)
Share Price: 1.29 USD (Feb 2024)
Revenue: 4.50 Billion USD
Earnings: 0.93 Billion USD
Industry & Services: Healthcare
IHH Health is one of the world’s largest healthcare networks, which operate 83 hospitals in 10 countries such as Malaysia, Singapore, Turkiye and India.
IHH Health services include preventive care and patient education, basic day-to-day healthcare services through outpatient treatment, routine check-ups and vaccinations.
As of February 2024, IHH Healthcare has a market capitalization of 11.34 Billion USD. Based on the market capitalization, IHH Healthcare is the sixth largest company in Malaysia and the world’s 1464th most valuable company.
7. Celcomdigi
Website: celcomdigi.com
Market Capitalization: 10.53 Billion USD (Feb 2024)
Share Price: 0.90 USD (Feb 2024)
Revenue: 2.54 Billion USD
Earnings: 0.34 Billion USD
Industry & Services: Telecommunication
As of February 2024, Celcomdigi has a market capitalization of 10.53 Billion USD.
Based on the market capitalization, Celcomdigi is the seventh largest company in Malaysia and the world’s 1548th most valuable company.
8. Hong Leong Bank
Website: hlb.com
Market Capitalization: 8.54 Billion USD (Feb 2024)
Share Price: 4.10 USD (Feb 2024)
Revenue: 1.20 Billion USD
Earnings: 1.03 Billion USD
Industry & Services: Banks, Financial Services
Hong Leong Bank is a regional financial services company based in Malaysia. Currently, it has extend its branch to other countries such as Singapore, Hong Kong, Vietnam, Cambodia and China.
Hong Leong Bank provides related financial solutions such as wealth management, safe deposit box services, cash management, trade finance, capital markets trading, import and export financing, foreign currency financing, shipping and bank guarantee services.
As of February 2024, Hong Leong Bank has a market capitalization of 8.54 Billion USD. Based on the market capitalization, Hong Leong Bank is the eighth largest company in Malaysia and the world’s 1797th most valuable company.
9. PMetal (Press Metal)
Website: pressmetal.com
Market Capitalization: 8.07 Billion USD (Feb 2024)
Share Price: 0.98 USD (Feb 2024)
Revenue: 3.12 Billion USD
Earnings: 0.38 Billion USD
Industry & Services: Aluminum
Press Metal was founded in 1986 as a local aluminium extrusion. After 38 years (as of 2024) of development and expansion, Press Metal has become a globally integrated aluminium producer with the largest presence in Southeast Asia.
Press Metal operates globally and provides aluminium to many different industries, from food and beverage brands to technology giants.
As of February 2024, Press Metal has a market capitalization of 8.07 Billion USD. Based on the market capitalization, Press Metal is the ninth largest company in Malaysia and the world’s 1874th most valuable company.
10. Petronas Gas
Website: petronas.com
Market Capitalization: 7.48 Billion USD (Feb 2024)
Share Price: 3.78 USD (Feb 2024)
Revenue: 1.43 Billion USD
Earnings: 0.50 Billion USD
Industry & Services: Oil&Gas, Utility companies, Energy, Infrastructure
Petronas Gas Bhd (PGB), is a subsidiary of Petroliam Nasional Bhd. It processes, transports, and re-gasifies natural gas and liquid natural gas (LNG).
As of February 2024, Petronas Gas has a market capitalization of 8.07 Billion USD. Based on the market capitalization, Petronas Gas is the tenth largest company in Malaysia and the world’s 1987th most valuable company.
In conclusion, these largest companies in Malaysia is important and play a major role. All of them provide job opportunity to local citizens, contribute taxes to government and promote the development of the Malaysia. We are looking forward to their future after that.
Additional Reading:
Top 10 Largest Companies In the World 2024
Citation:
companiesmarketcap.com. (2024). Largest Malaysian companies by market capitalization. [online] Available at: https://companiesmarketcap.com/malaysia/largest-companies-in-malaysia-by-market-cap/.
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