The selection showcases 200 small and medium-sized publicly traded companies from the Asia-Pacific region that have generated revenue of less than US$1 billion (RM4.57 billion) while maintaining consistent growth in both their top and bottom lines.

Forbes Asia remarked that the included companies have demonstrated remarkable performance despite significant global challenges such as inflation and escalating funding expenses.

The August 2023 edition of the list included the following Malaysian firms – Frontken Corp Bhd, Greatech Technology Bhd, Harbour-Link Group Bhd, Kim Loong Resources Corp Bhd, QES Group Bhd, Scicom (MSC) Bhd, Thong Guan Industries Bhd, Uchi Technologies Bhd, and ViTrox Corp Bhd.

The report highlighted that firms within the chipmaking and related industries stood out as exceptional performers due to a stark rise in demand over the past three years, driven by the rapid integration of artificial intelligence technologies.

Semiconductors are integral components in common products such as smartphones, household appliances and automobiles.

However, Forbes Asia also anticipated a slight softening in the market this year as supply constraints begin to ease.

Apart from semiconductor firms, companies providing essential IT solutions that form the core of digitalisation also stood out as top performers. They include companies in sectors such as healthcare, logistics, manufacturing, and various other industries.

In contrast, enterprises reliant on consumer expenditure – such as restaurants, entertainment, and sports establishments – observed a noticeable increase in sales as Covid-19 restrictions gradually diminished.