Forbes magazine has published the sixth annual list of the best big publicly listed companies in the Asia-Pacific region.

From the magazine’s report:

“How do companies pass muster? We started with 936 that had at least $3 billion in revenue or market capitalization. We looked at the five-year record for revenue, operating earnings and return on capital. Then we checked the most recent results, share-price movements and the outlook. Judgment calls must be made, given the differences in transparency, accounting and conditions among countries. It’s a valuable exercise that calls attention to great management and entrepreneurial skill.”

Asia’s Fab 50:

[TABLE=553]

Some observations:

• Chinese and Indian firm dominate the Fab 50 with a total of 32 top performers confirming the growing significance of these emerging economies.
• Australian conglomerate Wesfarmers(OTC:WFAFF) is the biggest company in this ranking with total sales of $43 billion in its last fiscal year.
• None of the companies from Malaysia or the Philippines are represented.
• Thai coal miner Banpu, India’s third largest private-sector Axis Bank, conglomerate ITC etc. are some of the 18 new firms that appear in this year’s rankings.
• India’s Dr. Reddy’s Laboratories(RDY), HDFC Bank (HDB), Infosys Technologies(INFY) trade on the US markets as ADRs  and are consistent performers in their respective fields.
• It is interesting to note that in the banking sector, other than banks from India and Indonesia none of Asia’s banks made it to the list.