** New – For the latest version of this list go here: The World’s Top 100 Non-Financial TNCs Ranked by Foreign Assets 2015
The Top 100 Non-Financial TNCs from Developing and Transition Economies Ranked by Foreign Assets are listed in the below based on 2013 data:
S.no. | Corporation | Home economy | Industry c | Foreign Assets ( in millions of US$) | Total Assets ( in millions of US$) |
---|---|---|---|---|---|
1 | Hutchison Whampoa Limited | Hong Kong, China | Diversified | 85 721 | 103 715 |
2 | CITIC Group | China | Diversified | 78 602 | 565 884 |
3 | Hon Hai Precision Industries | Taiwan Province of China | Electrical & electronic equipment | 65 471 | 70 448 |
4 | Petronas - Petroliam Nasional Bhd | Malaysia | Petroleum expl./ref./distr. | 49 072 | 163 275 |
5 | Vale SA | Brazil | Mining & quarrying | 45 721 | 131 478 |
6 | China Ocean Shipping (Group) Company | China | Transport and storage | 43 452 | 56 126 |
7 | China National Offshore Oil Corp | China | Petroleum expl./ref./distr. | 34 276 | 129 834 |
8 | América Móvil SAB de CV | Mexico | Telecommunications | 32 008 | 75 697 |
9 | Lukoil OAO | Russian Federation | Petroleum and natural gas | 31 174 | 98 961 |
10 | Cemex S.A.B. de C.V. | Mexico | Non-metalic mineral products | 30 730 | 36 808 |
11 | Petróleos de Venezuela SA | Venezuela, Bolivarian Republic of | Petroleum expl./ref./distr. | 27 462 | 218 424 |
12 | Samsung Electronics Co., Ltd. | Korea, Republic of | Electrical & electronic equipment | 26 077 | 169 702 |
13 | Singapore Telecommunications Ltd | Singapore | Telecommunications | 25 768 | 32 242 |
14 | Hyundai Motor Company | Korea, Republic of | Motor vehicles | 25 443 | 113 906 |
15 | Jardine Matheson Holdings Ltd | Hong Kong, China | Diversified | 24 284 | 63 460 |
16 | Sabic - Saudi Basic Industries Corp. | Saudi Arabia | Petroleum expl./ref./distr. | 23 540 | 90 089 |
17 | Gazprom JSC | Russian Federation | Petroleum and natural gas | 23 425 | 396 454 |
18 | Wilmar International Limited | Singapore | Food, beverages and tobacco | 23 088 | 41 920 |
19 | China Resources Power Holdings Company Ltd | Hong Kong, China | Energy | 22 938 | 22 938 |
20 | Tata Motors Ltd | India | Automobile | 21 575 | 31 281 |
21 | Ooredoo QSC | Qatar | Telecommunications | 20 304 | 26 104 |
22 | Formosa Plastics Group | Taiwan Province of China | Chemicals | 19 994 | 101 998 |
23 | New World Development Ltd | Hong Kong, China | Diversified | 19 857 | 36 918 |
24 | China National Petroleum Corporation | China | Petroleum expl./ref./distr. | 19 284 | 541 083 |
25 | CapitaLand Ltd | Singapore | Construction and real estate | 18 926 | 30 885 |
26 | Abu Dhabi National Energy Co PJSC | United Arab Emirates | Utilities (Electricity, gas and water) | 18 198 | 33 377 |
27 | Noble Group Ltd | Hong Kong, China | Wholesale trade | 17 748 | 19 700 |
28 | Genting Bhd | Malaysia | Other consumer services | 17 719 | 21 940 |
29 | Petroleo Brasileiro SA | Brazil | Petroleum expl./ref./distr. | 16 927 | 331 078 |
30 | Gerdau SA | Brazil | Metal and metal products | 15 684 | 26 072 |
31 | MTN Group Ltd | South Africa | Telecommunications | 15 263 | 21 409 |
32 | Bharti Airtel Limited | India | Telecommunications | 15 153 | 30 783 |
33 | Tata Steel Ltd | India | Metal and metal products | 14 994 | 27 027 |
34 | CLP Holdings Ltd | Hong Kong, China | Utilities (Electricity, gas and water) | 14 855 | 29 513 |
35 | Sinochem Group | China | Petroleum expl./ref./distr. | 14 704 | 45 488 |
36 | Quanta Computer Inc | Taiwan Province of China | Electrical & electronic equipment | 14 494 | 19 479 |
37 | POSCO | Korea, Republic of | Metal and metal products | 13 997 | 74 289 |
38 | China Resources Enterprises Ltd | Hong Kong, China | Food and beverages | 13 426 | 16 448 |
39 | Golden Agri-Resources Ltd | Singapore | Food | 13 286 | 13 286 |
40 | First Pacific Company Ltd | Hong Kong, China | Electrical & electronic equipment | 13 256 | 13 880 |
41 | YTL Corporation Bhd | Malaysia | Utilities (Electricity, gas and water) | 13 010 | 16 154 |
42 | Sun Hung Kai Properties Ltd | Hong Kong, China | Other services | 12 615 | 60 277 |
43 | Steinhoff International Holdings Ltd | South Africa | Other consumer goods | 12 453 | 16 090 |
44 | Lenovo Group Ltd | China | Electrical & electronic equipment | 11 962 | 16 882 |
45 | Fomento Economico Mexicano SAB | Mexico | Food, beverages and tobacco | 11 919 | 22 752 |
46 | Shangri-La Asia Ltd | Hong Kong, China | Other consumer services | 11 496 | 11 920 |
47 | Hindalco Industries Ltd | India | Diversified | 11 325 | 22 186 |
48 | Li & Fung Ltd | Hong Kong, China | Wholesale trade | 11 254 | 12 015 |
49 | Gold Fields Ltd | South Africa | Metal and metal products | 10 931 | 11 200 |
50 | Oil and Natural Gas Corp Ltd | India | Petroleum expl./ref./distr. | 10 930 | 46 630 |
51 | Sonatrach | Algeria | Petroleum and natural gas | 10 358 | 103 584 |
52 | Etisalat - Emirates Telecom Corp. | United Arab Emirates | Telecommunications | 9 834 | 21 821 |
53 | Sasol Limited | South Africa | Chemicals | 9 486 | 24 638 |
54 | San Miguel Corp | Philippines | Food, beverages and tobacco | 9 437 | 25 298 |
55 | Zain | Kuwait | Telecommunications | 9 412 | 10 438 |
56 | Flextronics International Ltd | Singapore | Electrical & electronic equipment | 9 395 | 10 592 |
57 | The Hong Kong & China Gas Company Limite | Hong Kong, China | Electricity, gas and water | 9 243 | 12 776 |
58 | Swire Pacific Ltd | Hong Kong, China | Business services | 8 996 | 41 567 |
59 | JBS SA | Brazil | Food, beverages and tobacco | 8 804 | 24 307 |
60 | Ternium SA | Argentina | Metal and metal products | 8 412 | 10 867 |
61 | China Mobile Limited | China | Telecommunications | 8 349 | 166 972 |
62 | Pou Chen Corp | Taiwan Province of China | Other consumer goods | 7 880 | 8 410 |
63 | Naspers Ltd | South Africa | Other consumer services | 7 769 | 8 811 |
64 | Tata Consultancy Services | India | Other services | 7 247 | 9 616 |
65 | Wistron Corp | Taiwan Province of China | Other equipments goods | 7 224 | 9 389 |
66 | Grupo Bimbo SAB de CV | Mexico | Food, beverages and tobacco | 7 209 | 10 491 |
67 | Orascom Construction Industries SAE | Egypt | Construction | 7 146 | 11 271 |
68 | China Electronics Corporation (CEC) | China | Electronics | 7 784 | 29 047 |
69 | DP World Limited | United Arab Emirates | Transport and storage | 6 877 | 16 434 |
70 | Compal Electronics Inc | Taiwan Province of China | Other consumer goods | 6 795 | 10 658 |
71 | Doosan Corp | Korea, Republic of | Construction | 6 659 | 29 527 |
72 | Sime Darby Bhd | Malaysia | Diversified | 6 628 | 15 068 |
73 | Turkcell Iletisim Hizmetleri AS | Turkey | Telecommunications | 6 461 | 10 428 |
74 | LG Electronics Inc. | Korea, Republic of | Electrical & electronic equipment | 6 148 | 29 482 |
75 | Olam International Ltd | Singapore | Electrical & electronic equipment | 6 039 | 10 875 |
76 | Severstal Group Holdings | Russian Federation | Metal and metal products | 5 954 | 15 707 |
77 | Cofco Ltd. | China | Food, beverages and tobacco | 5 952 | 41 264 |
78 | Power Assets Holdings Limited | Hong Kong, China | Electricity, gas and water | 5 753 | 13 114 |
79 | Embraer - Empresa Bras De Aeronautica SA | Brazil | Aircraft | 5 707 | 9 465 |
80 | Keppel Corp Ltd | Singapore | Diversified | 5 652 | 23 842 |
81 | Galaxy Entertainment Group Ltd | Hong Kong, China | Other consumer services | 5 619 | 5 727 |
82 | Inventec Co Ltd | Taiwan Province of China | Electrical & electronic equipment | 5 483 | 6 169 |
83 | Medi-Clinic Corp Ltd | South Africa | Other consumer services | 5 343 | 6 154 |
84 | Mechel OAO | Russian Federation | Metal and metal products | 5 186 | 17 695 |
85 | Sinopec - China Petrochemical Corporation | China | Petroleum expl./ref./distr. | 5 030 | 201 027 |
86 | Fraser and Neave Ltd | Singapore | Food, beverages and tobacco | 4 995 | 11 975 |
87 | Shenzhen International Holdings Limited | Hong Kong, China | Construction | 4 949 | 5 468 |
88 | Advanced Semiconductor Engineering Inc | Taiwan Province of China | Electrical & electronic equipment | 4 896 | 8 494 |
89 | China Minmetals Corp | China | Metal and metal products | 4 885 | 39 225 |
90 | Guangdong Investment Ltd | Hong Kong, China | Utilities (Electricity, gas and water) | 4 558 | 4 820 |
91 | City Developments Ltd | Singapore | Other consumer services | 4 555 | 12 757 |
92 | Road King Infrastructure Ltd | Hong Kong, China | Transport and storage | 4 328 | 4 809 |
93 | Cheng Shin Rubber Industry Co | Taiwan Province of China | Chemicals | 4 301 | 5 206 |
94 | Acer Inc | Taiwan Province of China | Electrical & electronic equipment | 4 248 | 7 810 |
95 | Hynix Semiconductor Inc | Korea, Republic of | Electrical & electronic equipment | 4 011 | 17 478 |
96 | Suzlon Energy Ltd | India | Diversified | 3 990 | 5 337 |
97 | Netcare Ltd | South Africa | Other consumer services | 3 892 | 5 325 |
98 | Sappi Ltd | South Africa | Wood and paper products | 3 866 | 6 168 |
99 | Enka Insaat ve Sanayi AS | Turkey | Construction and real estate | 3 804 | 8 209 |
100 | China Railway Construction Corporation Ltd | China | Construction | 3 761 | 76 282 |
Source: UNCTAD
Chinese firms located in mainland China and Hong Kong dominate this list.Many oil and utility firms are in this ranking since they have usually have major overseas operations.Lukoil OAO (LUKOY) of Russia, Sinopec – China Petrochemical Corporation (SNP) of China have big presence in other countries as well. South Africa’s MTN Group Ltd is a major player in the telecom space in many African countries.As these firms represent large multinationals from each of the country listed investors can consider these companies when exploring options for investments in emerging and frontier markets.
Download: The Top 100 Non-Financial TNCs from Developing and Transition Economies Ranked by Foreign Assets Full List (in Excel format).
Disclosure: Long PBR