Asia Industrials Lead Doubling of Region’s Global Revenue ShareJames Gunsalus
Asian industrial companies, including South Korea’s SK Holdings Co. and Noble Group Ltd. of Hong Kong, have lead the region’s doubling of global revenue share since 2005, a Citigroup Inc. study shows.
The share of companies in Asia, excluding Japan, jumped to 27 percent of total revenue at the sector’s top 20 global firms last year, according to the Citigroup study. In 2005 they garnered 11 percent.
Revenue increases by technology and energy companies rounded out the region’s top three gainers in the period, according to the study. Telecommunication, auto and semiconductor revenue also rose.
“The coverage of Asia’s leading corporates is a strategic priority for Citi in Asia across its 18 markets in Asia Pacific,” said James Griffiths, a Citigroup spokesman based in Hong Kong. “Citi also offers these companies access to its global network in over 100 countries, helping Asia’s corporates expand globally.”