The World’s Top 100 Non-Financial MNEs by Foreign Assets from Transition and Developing Economies 2016

I posted the list of The World’s Top 100 Non-Financial MNEs by Foreign Assets 2016 yesterday from the World Investment Report 2017 published by UNCTAD.

In this post, let us take a quick look at the top 100 MNE by foreign assets from transition and developing economies. The attached Excel below also shows how much revenue the top MNEs generate from foreign countries relative to total revenue.

The World’s Top 100 Non-Financial MNEs by Foreign Assets from Transition and Developing Economies in 2015 are shown in the table below:

Ranking by Foreign Assets	Corporation	Home Economy	Industry	Foreign assets (in millions of dollars)	Total assets (in millions of dollars)
1	CK Hutchison Holdings Limited	Hong Kong, China	Retail Trade	118 250	133 280
2	China National Offshore Oil Corp (CNOOC)	China	Mining, quarrying and petroleum	66 673	179 228
3	Hon Hai Precision Industries	Taiwan Province of China	Electronic components	64 040	70 244
4	Samsung Electronics Co., Ltd.	Korea, Republic of	Communications equipment	62 294	205 860
5	Petronas - Petroliam Nasional Bhd	Malaysia	Mining, quarrying and petroleum	47 912	139 868
6	China COSCO Shipping Corp Ltd	China	Transport and storage	43 076	55 642
7	Vale SA	Brazil	Mining, quarrying and petroleum	35 338	87 251
8	China Minmetals Corp	China	Metals and metal products	35 165	107 933
9	América Móvil SAB de CV	Mexico	Telecommunications	34 480	74 624
10	Tata Motors Ltd	India	Motor Vehicles	30 589	40 646
11	Cemex S.A.B. de C.V.	Mexico	Stone, Clay, Glass, and Concrete Products	26 830	31 212
12	Hanwha Corporation	Korea, Republic of	Wholesale Trade	26 326	123 783
13	China State Construction Engineering Corp Ltd (CSCEC)	China	Construction	25 472	165 740
14	Singapore Telecommunications Ltd	Singapore	Telecommunications	25 309	32 410
15	New World Development Ltd	Hong Kong, China	Construction	24 990	51 345
16	Formosa Plastics Group	Taiwan Province of China	Chemicals and Allied Products	24 490	102 732
17	Tencent Holdings Limited	China	Computer and Data Processing	24 086	47 308
18	Oil and Natural Gas Corp Ltd	India	Mining, quarrying and petroleum	23 921	53 765
19	China National Chemical Corporation (ChemChina)	China	Chemicals and Allied Products	23 795	51 382
20	Hyundai Motor Company	Korea, Republic of	Motor Vehicles	23 450	140 568
21	Sabic - Saudi Basic Industries Corp.	Saudi Arabia	Chemicals and Allied Products	22 870	87 525
22	China National Petroleum Corp (CNPC)	China	Mining, quarrying and petroleum	22 168	622 018
23	Sinopec - China Petrochemical Corporation e	China	Petroleum Refining and Related Industries	21 943	362 873
24	Legend Holdings Corporation	China	Computer Equipment	21 164	47 220
25	CapitaLand Ltd	Singapore	Construction	20 763	33 227
26	Sun Hung Kai Properties Ltd	Hong Kong, China	Construction	20 565	77 949
27	Wilmar International Limited	Singapore	Food & beverages	20 548	36 926
28	Lukoil OAO	Russian Federation	Petroleum Refining and Related Industries	19 942	67 754
29	Ooredoo QSC	Qatar	Telecommunications	19 429	25 866
30	Etisalat - Emirates Telecom Corp.	United Arab Emirates	Telecommunications	19 359	34 926
31	Jardine Matheson Holdings Ltd	Hong Kong, China	Wholesale Trade	18 809	66 581
32	Fosun International Limited	China	Metals and metal products	18 193	62 820
33	Lenovo Group Ltd	China	Computer Equipment	17 869	24 933
34	Sinochem Group	China	Mining, quarrying and petroleum	17 676	54 682
35	Genting Bhd	Malaysia	Hotels and restaurants	17 055	20 734
36	First Pacific Company Ltd	Hong Kong, China	Food & beverages	16 425	17 199
37	Abu Dhabi National Energy Co PJSC (TAQA)	United Arab Emirates	Electricity, gas and water	16 208	29 617
38	POSCO	Korea, Republic of	Metals and metal products	15 161	68 350
39	Noble Group Ltd	Hong Kong, China	Wholesale Trade	14 863	17 052
40	Tata Steel Ltd	India	Metals and metal products	14 641	26 815
41	YTL Corporation Bhd	Malaysia	Construction	14 412	17 691
42	Naspers Ltd	South Africa	Telecommunications	14 237	16 723
43	Dalian Wanda Group	China	Construction	13 912	139 115
44	JBS SA	Brazil	Agriculture, forestry, & fishing	13 787	30 932
45	DP World Limited	United Arab Emirates	Transport and storage	13 742	20 259
46	Sasol Limited	South Africa	Chemicals and Allied Products	13 402	30 370
47	Quanta Computer Inc	Taiwan Province of China	Computer Equipment	13 367	16 176
48	Gazprom JSC	Russian Federation	Mining, quarrying and petroleum	13 337	230 119
49	Shangri-La Asia Ltd	Hong Kong, China	Hotels and restaurants	13 047	13 285
50	Bharti Airtel Limited	India	Telecommunications	12 527	34 070
51	Fomento Economico Mexicano SAB	Mexico	Food & beverages	11 985	23 561
52	Gerdau SA	Brazil	Metals and metal products	11 941	17 699
53	MTN Group Ltd	South Africa	Telecommunications	11 634	20 156
54	Hindalco Industries Ltd	India	Metals and metal products	11 162	21 155
55	Infosys Limited	India	Computer and Data Processing	11 116	11 379
56	China Mobile Limited	China	Telecommunications	11 008	220 167
57	CLP Holdings Ltd	Hong Kong, China	Electricity, gas and water	10 823	26 317
58	Tata Consultancy Services	India	Computer and Data Processing	10 818	13 448
59	Doosan Corp	Korea, Republic of	Electronic components	10 730	26 824
60	Axiata Group Bhd	Malaysia	Telecommunications	10 613	13 011
61	Flex Ltd	Singapore	Electronic components	10 570	12 385
62	Mobile Telecommunications Company KSC (Zain)	Kuwait	Telecommunications	10 541	11 512
63	Sonatrach e	Algeria	Mining, quarrying and petroleum	10 383	103 830
64	Broadcom Limited	Singapore	Electronic components	10 287	10 592
65	China Electronic Information Industry Group Co., Ltd. (CEC)	China	Computer and Data Processing	10 239	38 205
66	Cofco Corp	China	Food & beverages	10 195	70 682
67	Keppel Corp Ltd	Singapore	Other Transportation Equipment	9 935	20 423
68	San Miguel Corp	Philippines	Food & beverages	9 922	26 599
69	Petroleo Brasileiro SA	Brazil	Mining, quarrying and petroleum	9 899	227 284
70	WH Group Limited	Hong Kong, China	Agriculture, forestry, & fishing	9 573	14 301
71	Reliance Industries Limited	India	Petroleum Refining and Related Industries	9 293	92 484
72	Grupo Bimbo SAB de CV	Mexico	Food & beverages	9 014	11 491
73	Sime Darby Bhd	Malaysia	Wholesale Trade	8 819	16 508
74	Pou Chen Corp	Taiwan Province of China	Textiles, clothing and leather	8 442	8 540
75	Mediclinic International PLC	South Africa	Health care services	8 290	9 419
76	Petróleos de Venezuela SA	Venezuela, Bolivarian Republic of	Mining, quarrying and petroleum	8 122	201 943
77	Golden Agri-Resources Ltd	Singapore	Food & beverages	8 036	8 036
78	Olam International Ltd	Singapore	Food & beverages	7 191	14 683
79	Wistron Corp	Taiwan Province of China	Computer Equipment	7 183	8 837
80	China Communications Construction Company Ltd	China	Construction	7 131	112 721
81	Galaxy Entertainment Group Ltd	Hong Kong, China	Hotels and restaurants	7 049	7 142
82	Ternium SA	Argentina	Metals and metal products	6 982	8 063
83	Shenzhen International Holdings Limited	Hong Kong, China	Transport and storage	6 889	7 612
84	Aspen Pharmacare Holdings Limited	South Africa	Pharmaceuticals	6 712	8 298
85	Alfa, S.A.B. de C.V.	Mexico	Metals and metal products	6 694	15 351
86	Sembcorp Industries Limited	Singapore	Electricity, gas and water	6 638	14 064
87	China Resources Beer (Holdings) Company Limited	Hong Kong, China	Retail Trade	6 586	6 587
88	Guangdong Investment Ltd	Hong Kong, China	Electricity, gas and water	6 574	6 982
89	Compal Electronics Inc	Taiwan Province of China	Computer Equipment	6 535	9 979
90	Banpu Public Company Limited	Thailand	Mining, quarrying and petroleum	6 499	6 553
91	City Developments Ltd	Singapore	Real Estate	6 440	14 348
92	LG Electronics Inc.	Korea, Republic of	Electric equipment	6 429	30 868
93	Grupo Mexico, S.A. de C.V.	Mexico	Mining, quarrying and petroleum	6 207	22 254
94	Li & Fung Ltd	Hong Kong, China	Wholesale Trade	5 966	7 933
95	Mexichem SAB de CV	Mexico	Rubber and Miscellaneous Plastic Products	5 772	8 670
96	Embraer - Empresa Bras De Aeronautica SA	Brazil	Aircraft	5 497	11 506
97	BRF S.A.	Brazil	Agriculture, forestry, & fishing	4 954	10 198
98	Gold Fields Ltd	South Africa	Mining, quarrying and petroleum	4 892	5 878
99	HNA Group Co Ltd	China	Transport and storage	4 767	95 339
100	SK Hynix Inc	Korea, Republic of	Electronic components	4 708	25 227

Source: World Investment Report 2017, UNCTAD

Two observations:

Firms from China dominates the above list. This is not surprising since China is the largest developing economy.
Gazprom(OGZPY) and Lukoil (LUKOY) the only Russian firms that appear in this ranking are from the energy industry.

Download: The World’s Top 100 Non-Financial MNEs by Foreign Assets from Transition and Developing Economies 2016(in Excel)

Disclosure: No Positions

2 Comments

cheng li

March 15, 2018 at 10:42 pm

There is a mistake at the bottom. Or rather the whole page is misleading. It is written “Download: The World’s Top 100 Non-Financial MNEs by Foreign Assets from Transition and Developing Economies 2016(in Excel)” but when I click the link, it gives me data of 2015 instead of 2016.
David Hunkar

March 17, 2018 at 12:29 am

Thanks for the note.
I will look into this tomorrow morning and fix it.

-David

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The World’s Top 100 Non-Financial MNEs by Foreign Assets from Transition and Developing Economies 2016

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