Due to its vibrant economy, which is the result of hard work and vigilant planning of many years, Malaysia is one of the countries of Asia that has many success stories to tell. The government acted expeditiously and cautiously in the year 2009 to bring down the impact of the global recession, and the result of this was affirmative allowing many of the businesses to become world leaders in their specific niches. Having said that, here are some of the top companies in Malaysia in the year 2015 that have contributed significantly to the growth of the country:
Maybank is the largest bank in Malaysia and one of the largest banks in Southeast Asia in terms of profitability and total assets. It has a global presence with a network of 2400 offices and more than 47,000 employees.
Tenaga Nasional Berhad (TNB)
TNB is the largest electricity company in Malaysia since 1949 with an asset value of 27.3 billion USD. Its Generation Division controls three major hydroelectric power stations and six thermal power stations. Additionally, the company supports the operations and maintenance of three independent power producers.
Established in the year 1966, Public Bank has become the third largest company listed on the Main Market of Bursa Malaysia Securities with an asset value of 75.6 billion USD. Today, this banking group offers a wide range of financial products and services to its customers.
CIMB group, which is a universal bank, operates in high growth economies in ASEAN. With its headquarters situated in Kuala Lumpur, the group has a retail network of 1080 branches covering the entire region.
Harrisons & Crosfield, Sime Darby & Co., and Guthrie & Co. merged to form Sime Darby. This multinational Malaysia-based company has a hold in five core sectors: motors, energy & utilities, industrial, plantations, and property.
Axiata, formerly known as TM International Bhd (TMI) is one of the largest telecommunications company in Asia, which came into existence on June 12, 1992. Rebranded as Axiata in the year 2009, the company now deals in investment holding and consultancy services along with telecommunication services internationally.
Petronas Chemicals Group
The Petronas Chemical Group is the top chemical producer of Malaysia and one of the largest in South East Asia. The company, which became operational in 1985, is mainly involved in three explicit products: fertilizers, menthol, olefins, and derivatives. With their state of art production units, the company also deals with other chemicals.
Maxis is the only communication service provider in Malaysia offering integrated solutions. The company deals in a number of communication products; value-added services and applications for its consumers. This same group launched Malaysia's first 4G LTE network on January 1, 2013.
Petroliam Nasional Berhad or PETRONAS is the oil and gas company in Malaysia that is solely owned by the Malaysian government. Coming into existence in 1974, the company has always remained rich with the entire oil and gas resources of Malaysia.
Genting Malaysia is primarily in the hospitality and leisure services. It has been dealing with entertainment, seaside resorts, theme parks, hotels, and gaming for over a period of 45 years. Resorts World Genting, situated at the peak of Genting Highlands is the most popular tourist destination of Malaysia welcoming around 20 million tourists every year.
As is the case with every country, the history and culture influence the way business is conducted in Malaysia. The sooner a business becomes familiar with the cultural complexities of the business the better it can develop the strategic relationships and linkups required for smooth business operations.
From business registration to setting up an office in Malaysia, Servcorp caters to all the needs of companies willing to have their presence in Malaysia. Just give us a call at +603 2169 6188 and allow us to take a genuine interest in your business growth.