20 S'pore firms on Forbes' list of 2,000 biggest public companies
TWENTY Singapore companies figure in Forbes magazine's annual list of the world's biggest public companies, with China landing five of the top 10 spots for the second year in a row.
DBS Group (world ranking 268) tops the local companies in the 13th Annual Global 2,000 list, with assets worth US$332.6 billion (S$442.5 billion).
At No. 2 is OCBC Bank (world ranking 302) and Singtel in third place (world ranking 325).
The Forbes Global 2,000 is a list of the world's largest, most powerful public companies as measured by revenues, profits, assets and market value. It uses a composite score that weighs those four metrics equally, arguing that one barometer alone would present a biased and incomplete account.
This year's Global 2,000 companies hail from 61 countries and account for combined revenues of US$39 trillion, profits of US$3 trillion, with assets worth US$162 trillion and a market value of US$48 trillion.
Beyond the top 10, the United States still leads the list with 579 companies. China (mainland and Hong Kong) still has fewer than half that - 232 to be exact - but added more spots than any other country in the world, and surpassed Japan for the first time.
For the first time also, China's four biggest banks own the top four spots globally. Industrial and Commercial Bank of China tops the list for a third consecutive year. The bank has assets of US$3.32 trillion.
China Construction Bank is No. 2, while Agricultural Bank of China is in third place.
Bank of China jumped five spots to the No. 4 spot, knocking down JP Morgan Chase.
Berkshire Hathaway remains in the fifth place, making Warren Buffet's conglomerate the largest US company this year.