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Malaysian Firm Leads Asia's Growth Race
17 Mar
Summary
- Borong, a Malaysian e-commerce platform, ranked first in Asia.
- Companies experienced revenue growth between 2021 and 2024.
- IT and software sectors showed the highest representation.
The eighth annual High-Growth Asia-Pacific Companies ranking, compiled by FT and Statista, identifies the top 500 firms based on revenue growth between 2021 and 2024. Malaysian e-commerce technology platform Borong secured the top spot, achieving a remarkable 295% compound annual growth rate and reaching $99.7 million in revenue.
South Korean companies Bznav and InPock followed, taking the second and third positions respectively. To qualify for this year's list, companies needed a minimum compound annual growth rate of 8.4 percent. Singapore and India each contribute 101 companies to the ranking, followed by Japan with 82 and South Korea with 79.
IT and software companies represent the largest industry sector, accounting for 21.4 percent of the list. Fintech, financial services, and insurance followed at 9.6 percent, with healthcare and life sciences at 5.6 percent. This year also marks the inclusion of Chinese companies for the first time.
