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SOCAR ranks 15th in Muslim World Top 100 Businesses

16 February 2009 09:58 (UTC +04:00)

Baku. Rashad Suleymanov â€“ APA-Economics. Dinar Standard, a United States-based growth strategy and intelligence service provider, has released its fifth annual DS100 ranking of the top 100 businesses in the 57 member countries of the Organization of the Islamic Conference (OIC).
Turkish companies continued to lead the list with 23 enterprises, followed by 14 from Malaysia, Saudi Arabia (13), Kuwait (8) and Indonesia (7).
With US$1.21 trillion in total revenues, the 2008 DS100 list companies recorded a respectable 12.3 percent growth in revenue over the previous year, Dinar Standard said in a statement.
According to the DS report, the State Oil Company of Azerbaijan is amongst the first 100 top ranking companies of the Muslim world.
National Iranian Oil Company (NIOC) comes 15th in rank with $19.694 billion earnings in 2007, marking a rise of 19%, year on year.
It said Saudi Aramco, the world’s top oil producer, continued to lead the DS100 as the largest business enterprise of the Muslim world, and the 21 integrated oil and gas companies on the list continued their dominance, representing 64 percent of the total DS100 company revenues.
However, the biggest year over year growth in revenue was logged by basic material (chemical, iron, copper, others) companies at 34 percent with Goldas from Turkey rising 72 percent, followed by SABIC, the Saudi Arabia-based chemical giant, recording an impressive 46 percent growth.
The purpose of the DS100 is to portray as close a picture possible of the domestic corporate environment in OIC member countries. It continues to include government and private enterprises, for whom data was verified through public sources, to reflect their disproportionately significant role in the economies of the OIC.
At the same time, more than half of the list is comprised of publicly-listed companies (54 out of 100), representing the growing public markets in these countries.