The World’s Top 100 Multi-National Enterprises based on Foreign Assets 2018

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UNCTAD recently released its annual The World Investment Report for 2019. The report contains many fascinating facts about global investments such as fund flows, foreign direct investment in countries, top global companies, etc.

The World’s Top 100 Multi-National Enterprises based on Foreign Assets in 2018 list is interesting to investors especially to those that are looking to diversify globally. The following table shows the latest list based on 2018 data:

RankCorporationHome economyIndustryForeign Assets (in millions of $)Total Assets (in millions of $)
1Royal Dutch Shell plcUnited KingdomMining, quarrying and petroleum343 713400 563
2Toyota Motor CorporationJapanMotor Vehicles300 384468 872
3BP plcUnited KingdomPetroleum Refining and Related Industries254 533283 144
4Softbank Group CorpJapanTelecommunications240 305325 869
5Total SAFrancePetroleum Refining and Related Industries233 692256 327
6Volkswagen GroupGermanyMotor Vehicles224 191524 566
7British American Tobacco PLCUnited KingdomTobacco185 974187 330
8Chevron CorporationUnited StatesPetroleum Refining and Related Industries181 006253 863
9Daimler AGGermanyMotor Vehicles169 115322 440
10Exxon Mobil CorporationUnited StatesPetroleum Refining and Related Industries168 053346 196
11Anheuser-Busch InBev NVBelgiumFood & beverages162 270202 375
12Apple Computer IncUnited StatesComputer Equipment153 545365 725
13CK Hutchison Holdings LimitedHong Kong, ChinaRetail Trade144 891157 337
14Honda Motor Co LtdJapanMotor Vehicles143 280184 338
15Vodafone Group PlcUnited KingdomTelecommunications143 259160 501
16General Electric CoUnited StatesIndustrial and Commercial Machinery134 637309 129
17Siemens AGGermanyIndustrial and Commercial Machinery133 891160 800
18Enel SpAItalyElectricity, gas and water133 459189 402
19DowDuPont IncUnited StatesRubber and Miscellaneous Plastic Products122 998188 030
20Nissan Motor Co LtdJapanMotor Vehicles122 276171 097
21Iberdrola SASpainElectricity, gas and water121 510148 434
22Nestlé SASwitzerlandFood & beverages120 407139 215
23BMW AGGermanyMotor Vehicles118 908239 272
24Bayer AGGermanyPharmaceuticals117 977144 590
25Johnson & JohnsonUnited StatesPharmaceuticals115 837152 954
26Amazon.com, IncUnited StatesE-Commerce115 397162 648
27Microsoft CorporationUnited StatesComputer and Data Processing114 648258 848
28Deutsche Telekom AGGermanyTelecommunications112 360166 447
29Glencore PLCSwitzerlandMining, quarrying and petroleum111 197129 113
30EDF SAFranceElectricity, gas and water107 145324 215
31Hon Hai Precision IndustriesTaiwan Province of ChinaElectronic components106 644110 609
32Eni SpAItalyPetroleum Refining and Related Industries106 042135 625
33Takeda Pharmaceutical Company LimitedJapanPharmaceuticals105 448125 235
34Telefonica SASpainTelecommunications100 094130 578
35Rio Tinto PLCUnited KingdomMining, quarrying and petroleum91 17891 261
36Medtronic plcIrelandInstruments and related products88 43591 393
37Fiat Chrysler AutomobilesUnited KingdomMotor Vehicles87 365110 915
38Mitsui & Co LtdJapanWholesale Metals and Minerals87 357107 843
39Samsung Electronics Co., Ltd.Korea, Republic ofCommunications equipment84 717304 057
40China COSCO Shipping Corp LtdChinaTransport and storage84 419109 044
41Novartis AGSwitzerlandPharmaceuticals83 259145 563
42Nippon Telegraph & Telephone CorporationJapanTelecommunications82 633201 274
43Ford Motor CompanyUnited StatesMotor Vehicles79 979256 540
44ArcelorMittalLuxembourgMetals and metal products77 89779 562
45Tencent Holdings LimitedChinaComputer and Data Processing77 594119 824
46Linde PLCUnited KingdomChemicals and Allied Products75 86393 386
47Pfizer IncUnited StatesPharmaceuticals74 988159 422
48Allergan PLCIrelandPharmaceuticals74 583101 788
49BASF SEGermanyChemicals and Allied Products71 92299 102
50Airbus SEFranceAircraft71 735131 896
51EngieFranceElectricity, gas and water71 437175 981
52Orange SAFranceTelecommunications69 489110 593
53Roche GroupSwitzerlandPharmaceuticals68 94179 777
54International Business Machines CorporationUnited StatesComputer and Data Processing68 772123 382
55Mitsubishi CorporationJapanWholesale Petroleum and Fuels68 378149 254
56China National Offshore Oil Corp (CNOOC)ChinaMining, quarrying and petroleum67 282173 408
57John Swire & Sons LimitedUnited KingdomTransport and storage65 93069 400
58Enbridge IncCanadaElectricity, gas and water64 540122 463
59Equinor ASANorwayPetroleum Refining and Related Industries61 606111 863
60Unilever PLCUnited KingdomFood & beverages61 54568 424
61GlaxoSmithKline PLCUnited KingdomPharmaceuticals61 12074 329
62State Grid Corporation of ChinaChinaElectricity, gas and water60 000585299
63Walmart incUnited StatesRetail Trade59 553219 295
64Lafargeholcim LtdSwitzerlandStone, Clay, Glass, and Concrete Products59 20260 723
65Christian Dior SAFranceTextiles, clothing and leather57 74488 471
66United Technologies CorporationUnited StatesAircraft56 601134 211
67China National Chemical Corporation (ChemChina)ChinaChemicals and Allied Products56 241121 444
68Intel CorporationUnited StatesElectronic components56 080127 963
69Renault SAFranceMotor Vehicles55 240131 665
70Robert Bosch GmbHGermanyMotor Vehicles55 16195 780
71SAP SEGermanyComputer and Data Processing55 12858 955
72Procter & Gamble CoUnited StatesChemicals and Allied Products54 905118 310
73RWE AGGermanyElectricity, gas and water54 77391 720
74Atlantia SpAItalyConstruction54 60591 223
75Alphabet IncUnited StatesComputer and Data Processing53 296232 792
76Mondelez International, Inc.United StatesFood & beverages52 42962 729
77Anglo American plcUnited KingdomMining, quarrying and petroleum50 51252 375
78Altice Europe NVNetherlandsTelecommunications50 01051 902
79Fresenius SE & Co KGaAGermanyHealth care services50 00264 922
80SanofiFrancePharmaceuticals49 960127 557
81Unibail-Rodamco SEFranceReal Estate48 76173 880
82Marubeni CorporationJapanWholesale Durable Goods48 36761 470
83Repsol YPF SASpainPetroleum Refining and Related Industries48 08169 588
84AstraZeneca PLCUnited KingdomPharmaceuticals47 24060 859
85Transcanada CorpCanadaElectricity, gas and water47 23272 581
86Danone Groupe SAFranceFood & beverages46 96050 580
87BHP Billiton Group LtdAustraliaMining, quarrying and petroleum46 088111 728
88Johnson Controls International PLCIrelandElectric equipment45 30248 797
89Sony CorporationJapanConsumer electronics45 051189 416
90Schneider Electric SAFranceElectricity, gas and water44 89448 384
91Reckitt Benckiser PlcUnited KingdomChemicals and Allied Products44 86848 195
92Oracle CorporationUnited StatesComputer and Data Processing44 576137 851
93Air Liquide SAFranceChemicals and Allied Products44 27048 066
94National Grid PLCUnited KingdomElectricity, gas and water46 98582 412
95Teva Pharmaceutical Industries LimitedIsraelPharmaceuticals43 44460 683
96General Motors CoUnited StatesMotor Vehicles43 267227 339
97Trafigura Group Pte LtdSwitzerlandWholesale Metals and Minerals43 05653 801
98China Minmetals Corp (CMC)ChinaMetals and metal products42 790131 338
99Tata Motors LtdIndiaMotor Vehicles42 14650 844
100Compagnie de Saint-Gobain SAFranceStone, Clay, Glass, and Concrete Products41 23450 426

Source: The World Investment Report 2019 , UNCTAD

Royal Dutch Shell(RDA-B) is the world’s top firm followed by Toyota of Japan(TM). As usual this list is dominated by Western firms. Some of the emerging market giants listed include Tata Motors(TTM) of India, CNOOC(CEO) and Sinopac(SNP) of China.

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Also see:  The World’s Top 100 Non-Financial MNEs based on Foreign Assets 2017

Disclosure: No Positions

 

9 Behaviors That Adversely Affect Investors: Infographic

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In an earlier post I discussed how the enemy of investors are themselves. Following that same topic, the following infographic shows 9 investor behaviors that are detrimental to their decision making skills and ultimately leads to poor investment returns.

Click to enlarge

Source: Unknown

“Narrow Framing” is one of the bad behaviors that some investors are prone to have. Under this theory, investors tend to frame everything narrowly without looking at the big picture or the overall implications. For example, an investor might sell out all British stocks because of Brexit fears when in fact most of the firms in the FTSE 100 derive their earnings from abroad and are not totally dependent on the domestic economy. Another example, is an investor that totally avoids Canadian and Mexican equities because of trade wars with the US. If the investor considers the overall big picture, it will be clear that these two countries are the some of the biggest trading partners with the US and hence avoiding firms from there is not a wise strategy.

Simply reacting to media without understanding the real implications of an event is also a bad behavior.

Crude Oil Prices Soar After “Game Changer” Attack on Saudi Oil Facilities

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The global oil industry got a wakeup call with the huge attack on two Saudi oil facilities on Saturday. Oil prices are soaring Sunday night as a result of this attack. Experts in the media are using words such as “game changer”, “crippling”, “big deal”, “big one” etc. to describe the attack. The use of drones by ragtag Houthi militants in Yemen or even by militarily insignificant Iran to successfully target one of the critical supply chains in the global oil market is indeed surprising. We can expect oil prices and oil stocks to rise as the Middle East gets hot again. Starting a war with Iran or other countries in the region will only make the situation worse and accelerate the global economy’s slide into recession. With that said, below are some of the news articles and oil resources that can help investors analyze the events and make informed decisions.

From an article in the BBC:

Oil prices hit their highest in four months after two attacks on Saudi Arabian facilities on Saturday knocked out more than 5% of global supply.

At the start of trading, Brent crude jumped 19% to $71.95 a barrel, while the other major benchmark, West Texas Intermediate, rose 15% to $63.34.

Prices eased back slightly after US President Donald Trump authorised the release of US reserves.

It could take weeks before the Saudi facilities are fully back on line.

State oil giant Saudi Aramco said the attack cut output by 5.7 million barrels per day, at a time when Aramco is trying to ready itself for what is expected to be the world’s largest stock market listing.

The drone attacks on plants in the heartland of Saudi Arabia’s oil industry included hitting the world’s biggest petroleum-processing facility. The US has blamed Iran.

Source: Oil prices soar after attacks on Saudi facilities, The BBC

From a piece in MarketWatch:

An intensifying Middle East conflict is threatening to throw the world’s energy market into disarray after weekend drone attacks destroyed parts of Saudi Aramco’s Abqaiq plant — one of the world’s largest processors of oil — and a separate nearby oil field.

On Saturday, the drone attacks, directed at Saudi Arabian oil facilities that account for nearly 10 million barrels of crude-oil production, resulted in massive plumes of black smoke emanating from the oil field, and a shutdown that could lead to about 50% of its production being at least temporarily thrown offline.

Prominent crude-oil strategist Phil Flynn at Price Futures Group told MarketWatch on Sunday that the drone strike was a “big deal” that could result in a major spike in crude-oil prices, because of the potential disruption to global supplies.

Source: Why the Saudi oil attack is a ‘big deal’ that could be a ‘game changer’ in stock markets and crude prices, MarketWatch

An excerpt from an article in WSJ:

Saturday’s attack on a critical Saudi oil facility will almost certainly rock the world energy market in the short term, but it also carries disturbing long-term implications.

Ever since the dual 1970s oil crises, energy security officials have fretted about a deliberate strike on one of the critical choke points of energy production and transport. Sea lanes such as the Strait of Hormuz usually feature in such speculation. The facility in question at Abqaiq is perhaps more critical and vulnerable. The Wall Street Journal reported that 5.7 million barrels a day of output, or some 5% of world supply, had been taken offline as a result.

To illustrate the importance of Abqaiq in the oil market’s consciousness, an unsuccessful terrorist attack in 2006 using explosive-laden vehicles sent oil prices more than $2.00 a barrel higher. Saudi Arabia is known to spend billions of dollars annually protecting ports, pipelines and processing facilities, and it is the only major oil producer to maintain some spare output. Yet the nature of the attack, which Iranian-supported Houthi fighters from Yemen claimed was the result of an attack by their forces, shows that protecting such facilities may be far more difficult today. U.S. officials blamed Iran and U.S. and Saudi officials were investigating the possibility that another Iranian-backed group carried out all or part of the attack using cruise missiles launched from Iraq. Iranian officials on Sunday denied responsibility for the attacks.

Source: Saudi Oil Attack Is the Big One, WSJ

Related Resources:

a) Oil Stock Lists:

b) Articles:

The Callan Periodic Table of Global Equity Investment Returns 1999–2018

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Callan is celebrating the 20th  anniversary of the publication of the widely popular Annual Periodic Table of Global Equity Investment Returns. The firm has published another great set of periodic tables as part of the celebration thru its Callan Institute. The following is the Periodic Table of Global Equity Investment Returns from 1999 thru 2018. It shows the annual returns of the respective MSCI index in the order of performance:

Click to enlarge

Source: The Periodic Table Collection –  20th  Anniversary Edition,  Callan Institute

Emerging market equities are not for the faint of heart as their returns are volatile. For example, in 2017 they were the best performers with a return of over 37% but in the following year they were down nearly 15%.

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