The 2006 DS100
Top 100 Companies of the Muslim World

 


Analysis Report:
- Ranking Shows Continued Strong Growth

- Key Facts
- Ten Fastest Growing Companies

 

Media Coverage

Feedback

Criteria

Credits

Corrections

2005 Ranking

 

 

 

Full List

Listed
Companies

Private
Companies

Government
Owned

By Industry

By Country

COMPANY

RANK

COUNTRY

REVENUE 2005*
US$ (mln)

% REV. GROWTH

'04-'05

TYPE

INDUSTRY

Saudi Arabian Oil Co.    (Saudi Aramco)1

1

Saudi Arabia

 $ 168,200

49%

Government

Oil & Gas - Integrated

National Iranian Oil Company1

2

Iran

 $ 75,616

50%

Government

Oil & Gas - Integrated

Petroliam Nasional Bhd. (Petronas)

3

Malaysia

 $ 44,282

22%

Government

Oil & Gas - Integrated

Kuwait Petroleum Corp.1

4

Kuwait

 $ 42,974

58%

Government

Oil & Gas - Integrated

Iraq National Oil Company1

5

Iraq

 $ 35,353

33%

Government

Oil & Gas - Integrated

Sonatrach2

6

Algeria

 $ 32,864

36%

Government

Oil & Gas - Integrated

Nigerian National Petroleum Corporation1

7

Nigeria

 $ 26,247

41%

Government

Oil & Gas - Integrated

Abu Dhabi National Oil Co.1

8

United Arab
Emirates

 $ 23,660

43%

Government

Oil & Gas - Integrated

National Oil Company (NOC)1

9

Libya

 $ 23,031

94%

Government

Oil & Gas - Integrated

Syrian Petroleum Company1

10

Syria

 $ 22,950

 

Government

Oil & Gas - Integrated

Kingdom Holding Co.

11

Saudi Arabia

 $ 21,805

16%

Private

Investment Services

PT Pertamina (Persero)

12

Indonesia

 $ 21,400

4%

Government

Oil & Gas - Integrated

Saudi Basic Industries Corporation (SABIC)

13

Saudi Arabia

 $ 20,866

14%

Listed

Chemical Manufacturing

Turkish Petroleum Refineries (Tupras)

14

Turkey

 $ 20,014

31%

Listed

Oil & Gas - Integrated

Koc Holding A.S.

15

Turkey

 $ 18,150

9%

Listed

Diversified - Automotive, Energy, Finance, Other

Socar (State Oil Company Azerbaijan)

16

Azerbaijan

 $ 16,500

 

Government

Oil & Gas - Integrated

Qatar Petroleum1

17

Qatar

 $ 14,157

43%

Government

Oil & Gas - Integrated

Petroleum Development Oman1

18

Oman

 $ 11,663

 

Government

Oil & Gas - Integrated

Egyptian General Petroleum (EGPC)1

19

Egypt

 $ 10,684

37%

Government

Oil & Gas - Integrated

Sabanci Holding

20

Turkey

 $ 10,600

23%

Private

Diversified - Finance, Retail, Comm., Other

KazMunayGas2

21

Kazakhstan

 $ 8,944

 

Government

Oil & Gas - Integrated

Saudi Telecom Company

22

Saudi Arabia

 $ 8,701

7%

Listed

Telecommunications

Petrol Ofisi A.S.

23

Turkey

 $ 8,283

7%

Listed

Oil & Gas Operations

Iran Khodro PLC

24

Iran

 $ 7,700

 

Listed

Auto & Truck Manufacturing

Dogan Holding

25

Turkey

 $ 7,307

27%

Listed

Diversified - Finance, Energy, Media, Other

Astra International

26

Indonesia

 $ 6,755

50%

Listed

Diversified - Auto, Finance, Other

The Emirates Group

27

United Arab
Emirates

 $ 6,604

27%

Government

Airline

Ulker

28

Turkey

 $ 6,600

83%

Listed

Food Processing

Ziraat Bank

29

Turkey

 $ 6,578

-2%

Government

Commercial Banking

Dogus Holding Co.

30

Turkey

 $ 6,395

9%

Private

Diversified - Finance, Automotive, Retail, Other

Perusahaan Listrik Negara, PT 2

31

Indonesia

 $ 6,373

 

Government

Electric Utilities

Tenaga Nasional bhd

32

Malaysia

 $ 5,766

23%

Listed

Electric Utilities

Sime Darby Bhd

33

Malaysia

 $ 5,699

45%

Listed

Diversified - Plantations, Heavy equip., Auto, Other

Dallah Albaraka Group

34

Saudi Arabia

 $ 5,204

5%

Private

Diversified - Finance, Media, Other

Isbank

35

Turkey

 $ 5,092

11%

Listed

Commercial Banking

Saudi Electric Company

36

Saudi Arabia

 $ 5,014

6%

Listed

Electric Utilities

National Petrochemical Company

37

Iran

 $ 5,000

39%

Government

Chemical Manufacturing

Saudi Binladin Group2

38

Saudi Arabia

 $ 5,000

 

Private

Diversified - Construction, Telecom, Mining

Turk Telekom2

39

Turkey

 $ 4,981

 

Government

Telecommunications

Pakistan State Oil Company Ltd.

40

Pakistan

 $ 4,907

40%

Listed

Oil & Gas Operations

Akbank TAS

41

Turkey

 $ 4,654

15%

Listed

Commercial Banking

Saad Group of Companies

42

Saudi Arabia

 $ 4,352

45%

Private

Diversified - Construction, Healthcare, IT

TurkCell

43

Turkey

 $ 4,300

34%

Listed

Telecommunications

M.A. Kharafi & Sons

44

Kuwait

 $ 4,300

10%

Private

Diversified - Engineering, construction, other

Vakif Bank

45

Turkey

 $ 4,233

5%

Government

Commercial Banking

Telekom Malaysia Bhd

46

Malaysia

 $ 3,943

13%

Listed

Telecommunications

Suez Canal Authority

47

Egypt

 $ 3,820

 

Government

Misc. Transport

Yapi Kredi Bank3

48

Turkey

 $ 3,811

24%

Listed

Commercial Banking

Telkom Indonesia

49

Indonesia

 $ 3,800

12%

Government

Telecommunications

Emirates Telecommunications (Etisalat)

50

United Arab
Emirates

 $ 3,503

23%

Listed

Telecommunications

Maybank Group

51

Malaysia

 $ 3,500

19%

Listed

Commercial Banking

Saudi Oger Company Ltd.

52

Saudi Arabia

 $ 3,300

2%

Private

Construction Services

Abdul Latif Jameel Group 2

53

Saudi Arabia

 $ 3,299

 

Private

Retail - Automobile

Orascom Telecom Holding

54

Egypt

 $ 3,226

48%

Listed

Telecommunications

Group ONA

55

Morocco

 $ 3,217

17%

Listed

Diversified - Mining, Construction, Finance, Other

Malaysian Airline System Bhd

56

Malaysia

 $ 3,215

29%

Listed

Airline

Consolidated Contractors International Company

57

Saudi Arabia

 $ 3,151

47%

Private

Construction Services

EreĞli Iron & Steel Works Co. (Erdemir)

58

Turkey

 $ 3,119

-4%

Listed

Iron And Steel

Vestel 4

59

Turkey

 $ 3,088

 

Listed

Appliance & Tools

The Lion Group

60

Malaysia

 $ 3,060

-8%

Listed

Diversified - Steel, Retail, Agriculture, Other

PPB Group

61

Malaysia

 $ 3,003

3%

Listed

Diversified - Food production and processing, Property

Enka Holdings

62

Turkey

 $ 3,002

60%

Listed

Construction Services

ETA - Ascon Group

63

United Arab
Emirates

 $ 3,000

30%

Private

Diversified - Engineering, construction, other

Tekel2

64

Turkey

 $ 2,800

 

Government

Crops

UMW Holdings Bhd

65

Malaysia

 $ 2,791

68%

Listed

Diversified - Auto, Oil & Gas, Manufacturing

Gudang Garam Tbk Pt

66

Indonesia

 $ 2,743

2%

Listed

Tobacco

Kazakhmys

67

Kazakhstan

 $ 2,597

 

Listed

Copper, Nickel, Lead, and Zinc Mining

Eczacibasi Holdings

68

Turkey

 $ 2,554

15%

Private

Diversified - Pharma, Construction, Retail

Bank Mandiri2

69

Indonesia

 $ 2,505

0%

Listed

Commercial Banking

Turkish Airlines

70

Turkey

 $ 2,481

6%

Government

Airline

Emaar Properties

71

United Arab
Emirates

 $ 2,276

59%

Listed

Construction Services

Ciner Group (Previously Park Group)

72

Turkey

 $ 2,217

 

Private

Textile, Energy, Mining

Electricity Generation Company Inc.

73

Turkey

 $ 2,215

 

Government

Electric Utilities

Perusahaan Otomobil Nasional Bhd (Proton)

74

Malaysia

 $ 2,205

-8%

Listed

Auto & Truck Manufacturing

Al Rajhi Banking and Investment Corp.

75

Saudi Arabia

 $ 2,201

59%

Listed

Commercial Banking

Indofood

76

Indonesia

 $ 2,062

5%

Listed

Food Processing

Samba Financial Group

77

Saudi Arabia

 $ 2,033

58%

Listed

Commercial Banking

Mobile Telecommunications Company

78

Kuwait

 $ 2,003

82%

Listed

Telecommunications

Bank Rakyat Indonesia

79

Indonesia

 $ 2,001

16%

Listed

Commercial Banking

Saud Bahwan Group

80

Oman

 $ 2,000

100%

Private

Retail - Automobile

Jumbo Electronics Co. Ltd.

81

United Arab
Emirates

 $ 2,000

 

Private

Appliance & Tools

National Commercial Bank

82

Saudi Arabia

 $ 1,997

25%

Government

Commercial Banking

Orascom Construction Industries*

83

Egypt

 $ 1,988

41%

Listed

Construction Services

Bumiputra-Commerce Holdings BHD

84

Malaysia

 $ 1,980

11%

Listed

Commercial Banking

Borusan Holding

85

Turkey

 $ 1,951

23%

Private

Diversified -Steel, Auto Distribution, IT

Finansbank A.S. 5

86

Turkey

 $ 1,844

37%

Listed

Commercial Banking

Savola Group

87

Saudi Arabia

 $ 1,828

22%

Listed

Food Processing

Industries Qatar

88

Qatar

 $ 1,807

24%

Listed

Integrated Petrochemical And Steel Industries

Maxis Communications Bhd

89

Malaysia

 $ 1,802

12%

Listed

Telecommunications

IOI Group

90

Malaysia

 $ 1,728

1%

Listed

Crops

Public Bank Bhd.

91

Malaysia

 $ 1,680

28%

Listed

Commercial Banking

Bank Negara Indonesia Tbk, PT

92

Indonesia

 $ 1,673

3%

Listed

Commercial Banking

O.Y.L Industries Bhd

93

Malaysia

 $ 1,660

14%

Listed

Appliance & Tools

Turkiye Sise ve Cam Fabrikalari A.S.

94

Turkey

 $ 1,657

2%

Listed

Glass And Glass Product Maufacturing

Bank Central Asia Tbk2

95

Indonesia

 $ 1,620

 

Listed

Commercial Banking

Oil and Gas Development Limited (OGDCL)

96

Pakistan

 $ 1,589

29%

Listed

Oil & Gas - Integrated

YTL Corporation Berhad

97

Malaysia

 $ 1,557

19%

Listed

Diversified - Electric Utilities, Construction,  Real Estate, Other

Genting Berhad

98

Malaysia

 $ 1,543

25%

Listed

Diversified - Hospitality, Plantations, Property, Other

Boydak Holding

99

Turkey

 $ 1,500

25%

Private

Furniture, Cable And Other

Telekom Egypt

100

Egypt

 $ 1,496

10%

Listed

Telecommunications

 

 

 Reference notes:
 1. Revenue figures are estimates based on 2005 crude oil production (OPEC data) only
 2. Based on End of Fiscal Year 2004 or earliest available (EOY 2005 could not be obtained)
 3. Owned by Cukurova Group, Turkey (Cukurova Groups revenue could not be obtained)
 4. Owned by Zorlu Holding, Turkey (Zorlu Holdings' revenue could not be obtained)
 5. Owned by Fiba Holding, Turkey (Fiba Holdings' revenue could not be obtained)

 * Revenue Numbers are based on available figures for 2004 Fiscal Year.
    Learn more about the criteria used and sources here

 

 

 

 

 

 

 

 

The 2006 DS100 Summary Report
Ranking Shows Continued Strong Growth

DS100

> Full List

 


Posted, January 23rd, 2007

The 3rd Annual DS100 ranking continues to benchmark the corporate environment in the Muslim world. With US $944 billion in total revenues and a healthy 37% in revenue growth over the year before, the ranking shows a continuing strengthening of the Muslim world economy (Fortune 100 Global Company revenues grew 14% in the same period.)

In This Report:

> 

Purpose & challenges

> 

Key Facts

> 

Industry analysis

> 

Global Comparison

> 

National breakdown

> 

Private, Government and Public sector breakdown

The ranking, which is based on end of 2005 revenue figures, showed strong growth accross all industries, but the Integrated Oil & Gas companies led this growth at 42% from the year before riding on a 40% rise in the oil spot price (OPEC figures).

Inspite of the energy sectors' dominance, strong growth performances were also logged by the construction (+36%), food processing (30%), transportation (23%), and telecom (20%) sectors-- continuing to show a rich diversity of industries represented on the ranking.  Ulker, the Turkey based food processing global brand showed the highest revenue growth at 83% from the year before, meanwhile Malaysian auto manufacturer Proton, marred by local competitive woes, recorded the biggest drop at -8% in revenues.

Some global M&A activity resulted in the dropping of a few companies from the list this year (given only domestic owned companies qualify for the ranking).  Maroc Telecom (majority acquired by Vivendi Group) and Indonesia's tobacco giant Sampoerna (majority acquired by Phillip Morris) both did not qualify based on that criteria.  

Separately the criteria was adjusted to include firms regardless of being headquartered in a non-OIC country if majority of their operations were in an OIC country and if majority shares were held by OIC country member residents. This enabled Kazakhstan's London listing success story Kazkhmys to be included at #67 with $2.6 billion in annual revenues.

Ranking Purpose & Challenges

The purpose of the DS100 (in its third year) is to portray as close a picture as possible of the leading domestic business activities in the OIC (Organization of Islamic Conference) member countries while providing its corporate managers and strategists with a tool to benchmark trends and identify opportunities.

At the same time, the DS100 aims to recognize companies that are leading the charge in the global competitive landscape and are making a significant impact in the well-being of their communities.

The ranking is purely based on 2005 end of year annual revenue figures. It continues to include Government and Private enterprises to reflect their disproportionately significant role in the Muslim world economies.

DS00 - 2006
Key Facts

Full List

Total Revenue: US$ 944 billion

Aggregate Revenue Growth: 37%
(from year before)

Comparison with Global 100: DS100 company revenues are 10% of the $9.2 trillion in revenues of the global 100 companies (from Fortune magazine's 2006 Global 500 list)

Companies on Fortune 500 Global: Petronas, SABIC, KOC Holding

Type of Companies:
Government 28 (67% of total revenues)
Public 55 (25% of total revenues)
Private 17 (9% of total revenues)

Top Industries: Conglomerates, Energy, Finance (see more below)

Minimum revenue size on list: $1.49 billion

Top Countries: Turkey, Malaysia, Saudi Arabia (see more below)

At the same time, more than half of the list is comprised of publicly listed companies (55 of 100) from the growing public markets of the Muslim World.

Only those private and government enterprises are included for whom data could be estimated or verified through various media sources. This continues to be a challenge. However, a visible positive trend towards better corporate governance, transparency practices, and privatization is facilitating a clearer view of the corporate environment in the Muslim World.

In order to accommodate for corrections, the ranking will maintain a Corrections section online. This will be particularly true in the case of privately held or government businesses. Also, a select list of businesses which we think may have made it to the DS100 list but whose revenues we were unable to verify are included below. (Click here for more details on the criteria and methodology used)

Global Comparison

Globally, the DS100 Companies represent a mere 10% of the $9.2 trillion in revenues attributed to the global 100 companies from Fortune magazine's 2006 Global 500 list. However, a higher revenue growth of 37% by DS100 companies against the world 100's revenue growth of 14% is a positive sign.

Petronas (Malaysia), SABIC (Saudi Arabia), and KOC Holding (Turkey) are the only three DS100 companies also on the Fortune 500 Global list. Meanwhile, no brands from OIC member countries make it to the BW/Interbrand Top 100 Global Brand list.

Industry Breakdown

The combined total revenue of the DS100 Companies was $944 billion in 2006 (based on EOY 2005 data) which was an increase of 37% from the year before ($688 billion.)

DS100 - Top 100 Companies of the Muslim World

2006 Ranking - Industry Breakdown

DinarStandard.com, 2007

Saudi Aramco, the world's top oil producer, continues to lead the DS100 list as the largest business enterprise of the Muslim world recording an estimated 49% rise in its revenues from the year before. Overall, the energy sector continues to confirm its dominance by the mere fact that the top 10 companies on the list are all state-owned Integrated Oil & Gas companies of which Libya's National Oil Company showed the biggest growth 94% rise in estimated revenues.

However. seven of the ten largest growth companies are non energy sector specific.  Ulker, the Turkish native global confectionary brand showed an impressive year to year 83% revenue growth followed by MTC (82%), Kuwait based global telecom player. Other big gainers include UMW Holdings (68%), Enka Holdings (60%), Emaar Properties (59%), Al Rajhi (59%), Samba (58%) Astra Internatinal (50%), and Orascom Telecom (48%).

Even with the energy sector's top placement on the ranking, it's the diversified companies that represent the largest sector on the list (22 of 100), with the Turkish family owned conglomerates such as Koc Holding, Sabanci Holding, and Dogan Holding having the highest revenues.

Finance continues to be the next most represented sector (16 of 100) with Turkish banks Ziraat Bank, IsBank, Akbank, and Vakif Bank leading the list, though, Malaysian, Saudi, and Indonesian banks are also well represented.

The other major sector is Telecom with 10 companies represented and led by Saudi Telecom, Turk Telecom and Telkom Malaysia. This continues to be the most exciting sector with a flurry of privatization, market expansion and innovation activities. The other key industries represented in the DS100 include Food Processing, Airlines, Construction, Automotive, Basic Materials, Consumer Appliances and Utilities.

Publicly Listed vs. Government and Private Companies

SABIC - Saudi Basic Industries Corporation, the Middle-East's largest non-oil industrial company, leads the list of publicly traded companies followed by the Turkish giant Koc Holding. 55 of the 100 companies on the DS100 are publicly traded firms in 11 different countries. 27 out of the 57 OIC member countries today have securities markets at different stages of maturity (see Stock Market Analysis Report.)

While a majority of the companies on The DS100 are publicly traded, the bulk of the total revenue, more than 67%, is attributed to the 28 Government owned companies on the list. This trend remains the same from the year before. At the same time it should be noted that some of the 'Listed' companies still have majority Government ownership and are at different stages of privatization drives.

In regards to Privately held companies, the ranking this year has 17 private enterprises compared to 16 last year. Data was available for these companies through public sources. Kingdom Holding Company (Saudi Arabia) leads this list, followed by Sabanci Group (Turkey), and Dogus Holding (Turkey). Even though there is a small representation of Private Companies on the list, it is believed that there are many for whom data was not available and hence were not included*.

Turkish, Malaysian, Saudi and Indonesian Companies lead the List

Companies from 19 out of the 57 OIC member countries are on the DS100.

DS100 - Top 100 Companies of the Muslim World

2006 Ranking - Country Breakdown


DinarStandard.com, 2007

Turkish companies continue to lead the list with 26 represented enterprises, followed by 17 from Malaysia, 15 from Saudi Arabia, and 10 from Indonesia. Other countries represented include Pakistan, Iran, Nigeria, Morocco, Kazakhstan, Egypt, the UAE, Bahrain, and Algeria.

DS100: A benchmarking and recognition tool

Corporate benchmarking is a key management tool for strategic planning efforts and to raise the level of competitiveness to a global level. Recognition on the DS100 also gives the ever-important workforce a source of motivation and pride in their company's efforts.

Initiated in 2004, the Annual DS100 ranking continues to play its part in helping to raise the competitiveness bar for its corporate enterprises (see 2005 media coverage).  Many sub-region competitive benchmarks and surveys, such as the Arab Business Intelligence Report (introduced 2005), and Forbes Top 40 Arab Brands (introduced 2006), add to the emerging culture of a globally competitive corporate environment.

------------------------

* Following are some Private and Government held Companies whose information could not be verified that may have made the DS100:

Libyan Iron and Steel Co. - Libya

Salim Group - Indonesia

Uzbekneftegaz State Holding Co. - Uzbekistan

Obegi Group - Lebanon

Zorlu Holding - Turkey

Arabian Fal Company for Trading and Contracting - Saudi Arabia

National Iranian Steel Corporation - Iran

Azimut Energy Services -Kazakhistan

Saudi Arabian Airlines - Saudi Arabia

Damac Group - United Arab Emirates

Perodua- Malaysia

Al Owaidah Group - Saudi Arabia
Omzest Group - Oman
Cukurova Group - Turkey
Mansour Group of Companies - Saudi Arabia
Dubai Ports Authority - United Arab Emirates
Al Ghurair Goup - United Arab Emirates
AL Futtaim Group - United Arab Emirates
A H Al Zamil Group of Cos. - Saudi Arabia

 

 

 

 

 

 

The 2006 DS100
Criteria

DS100

Criteria | Feedback | Credits | Corrections

Full List

Listed
Companies

Private
Companies

Government
Owned

By Industry

By Country

 

 

The following is the criteria used to develop the DS100 - Top 100 Companies of the Muslim World:

  • Only OIC country based, domestic (majority owned) businesses included
  • Subsidiaries of Foreign Companies not included
  • Top 100 Ranked by revenue in US$ for End of Year 2005 (Unless noted otherwise)
  • For Banks- Interest and Non-Interest revenue; For Insurance Companies- Premium, annuity Income, Investment income, gains and losses, excludes deposits
  • In addition to the Publicly listed Companies, Private and Government held entities are also included
  • To truly reflect top businesses in the region, it was important to include Private and Government entities. It is recognized that this would leave open the possibility of many companies not included due to non-availibility of public data. Dinar Standard has made extensive attempts to make this list comprehensive. However, we recognize that we may have either missed some companies or the data was simply not available due to company policies not to diclose financial data. DS100 will reflect any updates in the Corrections section.
  • Holding Companies were included (For Holding Companies included, their subsidiaries were not included)
  • Central Banks not included
  • Companies that are headquartered in Non-OIC countries but company majority operations in OIC country and shares held majority by OIC member country resident(s)

Sources:

  • For publicly listed companies Annual Reports or data posted by the Public markets were used. In other cases, various publicly available sources were used. These include sources such as Arab News, Hoovers.com, Forbes Magazine, Financial Times, Bloomberg, Dow Jones News Wires, Privatization Commisions, Chambers of Commerce, and Organizations such as OPEC. In addition many of the companies were contacted directly to verify the data.

 

 

 

 

 

 

 

The 2006 DS100
Ten Fastest Growing Companies

DS100



To 2006 Ranking

 


Posted, January 27, 2007

From hightech car manufacturing, consumer electronics, and telecom companies, to the worlds leading oil & gas, other mining, and infrastructure companies--the DS100 represents an aggregation of exciting and diverse set of businesses in the OIC (Organization of Islamic Conference) member States. Although Integrated Oil & Gas companies fill the top 10 DS100 spots, 7 out of 10 of the fastest growing DS100 companies this year are from sectors other than Oil & Gas.

Given the importance of diversification of industries to the OIC member states economies, we profile below the 10 fastest growing non-energy sector companies of the DS100.

 

ÜLKER - Turkey
Food Processing

DS100 Rank - #28, +83%

ÜLKER is perhaps the most exciting company on the DS100 list this year. As an emerging global consumer brand with a mix of innovative product offerings, it has successfully shown tremendous growth in its position fromlast year.

Mr. Sabri Ülker established the company in Istanbul in 1944 to make cookies. Today, the chocolates, cookies and cocoa products have earned Ülker its fame and are exported to more than 100 countries. Its vision states that "everyone has the right to a happy childhood no matter where in the world they live."

It has over 21 thousand employees today and has 7 factories in 6 different countries. The company's main 'Ülker Division' produces baby food, cakes, chocolate, cookies, crackers, chewing gum, and flour. Its Food Division makes cooking oils and fats, dairy products, prepared food, soft drinks, and starches. Ülker also produces private label food. The Packaging and Services Division makes boxes and other packing material.

Mobile Telecommunications Company - Kuwait
Telecommunications

DS100 Rank #78, +82%

  

Mobile Telecommunications Company (MTC) is the pioneer of mobile telecommunications in the Middle East and now a major player on the African continent.

Since its initiation of a “3x3x3” expansion strategy in 2002, MTC has expanded rapidly. Today, it is a leading mobile and data services operator in six Middle Eastern and 14 sub-Saharan African countries with 12,000 employees providing a comprehensive range of mobile voice and data services to over 24.9 million (September 30, 2006) individual and business customers.

It operates in Kuwait and Bahrain as mtc-vodafone, in Jordan as Fastlink, in Iraq as mtc atheer, in Lebanon as mtc touch, in Sudan as Mobitel and in 14 sub-Saharan countries in Africa as Celtel.

MTC's "3x3x3" corporate strategy is an ambitious expansion strategy to make MTC a leading mobile and lifestyle services provider on the global stage by the end of the year 2011. It is being executed in three stages: regional, international and global, with each stage completed in three years, with an aim of reaching a subscriber base in excess of 50 million.

 

UMW Holdings - Malaysia
Telecommunications

DS100 Rank #65, +68%

   

 

ENKA Holdings - Turkey
Capital Goods - Construction Services

DS100 Rank #62, +60%

This Istanbul-based firm is one of Turkey's largest construction firms with 14,000 employees. The company 's principal activities include the construction of industrial and social buildings, thermic power plants, motorways, property development, and the leasing of office buildings. It has projects in Turkey, Russia, Ethiopia, North Africa and Central Asia.

The company operates in four main geographic areas with the following activities: Turkey, on the construction of industrial and social buildings, motorways and natural gas fired electrical energy generation facilities; Commonwealth of Independent States (CIS), on construction activities in Russia, Kazakhstan and Azerbaijan; North Africa, on construction activities mainly in Libya; Europe, on construction and trading activities in Croatia and Germany.

 

Emaar Properties - U.A.E
Construction Services

DS Rank #71, +59%

 

Al Rajhi Bank - Saudi Arabia
Commercial Banking

DS100 Rank #75, +59%

 

Samba Financial Group - Saudi Arabia
Commercial Banking

DS100 Rank #77, +58%

 

 

Astra International - Indonesia
Diversified - Auto, Finance, Other

DS Rank # 26, +50%

 

Orascom Telecom - Egypt
Services: Telecommunications

DS100 Rank #54, +48%

Orascom Telecom Holding established only in 1998 has quickly grown to become the largest and most diversified GSM network operator in the Middle East, Africa, and Pakistan.

With nine licenses covering the region, Orascom Telecom has positioned itself as a leading telecommunications conglomerate in emerging markets of this region. Starting with MobiNil in Egypt, Orascom Telecom continued to expand its network to cover Algeria, Pakistan, Tunisia, Congo, Chad, Zimbabwe, the Democratic Republic of Congo, and just recently acquired a license in Iraq. Its subscriber base has continued to grow to reach over 8 million subscribers. Iraqna was the last addition to the GSM family when on October 6th, 2003 Orascom Telecom was awarded the first license for the Central Region in Iraq.

 

Consolidated Contractors International Company
Basic Materials - Chemical Manufacturing
Saudi Arabia

DS100 Rank #57, +47%

 

 

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