KUALA LUMPUR: Malaysia more than doubled its representation on Forbes Asia's 2026 Best Under A Billion list, with 19 listed companies earning a place on this year's prestigious ranking.
The strong showing makes Malaysia one of the standout performers in this year's list, with more than half of the local companies benefiting directly from the rapid expansion of the country's AI ecosystem, particularly investments in data centres, power infrastructure, semiconductors and industrial technology.
Among the notable newcomers is Southern Cable Group Bhd, whose low- and high-voltage power cables are increasingly in demand as Malaysia ramps up data centre construction.
The company generated RM1.8 billion in revenue in 2025, with data centre-related projects contributing about 15 per cent of total sales.
The local list also includes AME Elite Consortium Bhd, ITMax System Bhd, Kim Loong Resources Bhd, Pekat Group Bhd, Solarvest Holdings Bhd, Time dotCom Bhd and UNited U-Li Bhd.
The annual Forbes Asia Best Under A Billion list recognises 200 of the region's top-performing listed small and midsized companies, selected from a universe of more than 19,000 companies across Asia Pacific.
Rankings are based on a composite assessment of debt levels, sales growth, earnings-per-share growth and return on equity over multiple years.
Forbes Asia said this year's companies have successfully navigated geopolitical tensions and volatile energy markets by positioning themselves in fast-growing sectors led by AI and advanced technologies.
About a quarter of the companies on the list are software developers or suppliers of semiconductor components and manufacturing equipment, while others have capitalised on accelerating demand for electric vehicles, renewable energy and specialised industrial equipment.
Malaysia's growing presence reflects the country's emergence as a regional AI and digital infrastructure hub, with rising investments in data centres creating opportunities across the broader industrial supply chain.
China topped this year's ranking with 28 companies, followed by India with 27, while 60 companies from last year's list retained their positions.
Since its launch in 2002, the Best Under A Billion ranking has identified companies that later became some of Asia's biggest corporate names.
They include Alibaba, Tencent, Baidu, Infosys, Wipro, Geely Automobile, Jollibee, Central Pattana, as well as Malaysian success stories IOI Properties Group Bhd and AirAsia.