Muslim World's Top 100 Business Ranking Shows Full Financial Crisis Impact

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With USD 1.12 trillion in aggregate revenue, the DS100 list of companies are 10.4% of the global 100 company revenues, recording a cumulative 26.47% decline in annual revenue over the previous reporting period. A decline, led by the oil & gas sector, nevertheless highlights the strength of other emerging sectors of finance, consumer goods, transportation, and utilities.

The big growth winners of this ranking, Savola Group, BIM, Etihad Airways, PT Adora and others are the new emerging global players

DinarStandard™, a specialized market research and business media firm, released its 7th annual ranking of the top 100 businesses by annual revenue, in the 57 member countries of the OIC (Organization of the Islamic Conference.)

The 2010 DS100 ranking, which is based on companies' fiscal year ended on or before June 2010, fully captures the impact of the 2008/2009 global financial crisis. With USD 1.12 trillion in aggregate revenue, the DS100 list of companies recorded a cumulative 26.47% decline in annual revenue over the previous reporting period.

Saudi Aramco, the world's top oil producer, continues to lead the DS100™ as the largest business enterprise of the Muslim world. The 19 Oil & Gas Companies featured on the list continued to exert their fiscal dominance representing 64% of the combined DS100 company revenues. However these same companies tallied a 38% drop in yearly revenue from the previous term, accounting for most of the aggregate revenue decline of this period’s DS100 list.

The silver lining has been that some sectors, such as finance, consumer goods, and utilities, absorbed the shockwaves of the global financial meltdown, and still registered single digit growth.

The fastest growing companies on the 2010 DS100, by annual revenue, were YTL Corp. (+85.48%, Malaysia,) PT Adaro Energy (+48.89%, Indonesia,) Savola Group (+29.64%, Saudi Arabia,) Etihad Airways (+29.15%, UAE,) Proton (+26.20%, Malaysia,) Bank Rakyat Indonesia (+26.02%, Indonesia,) BIM Birlesik (+25.48%, Turkey,) Public Bank (+24.30%, Malaysia,) Selçuk Ecza Deposu (+24.28%, Turkey,) and Pakistan State Oil (+21.48%, Pakistan.)

The purpose of the DS100™ is to present a snapshot of the domestic corporate environment in OIC member countries. It continues to include government and private enterprises, to reflect the overwhelmingly significant role they play in the economies of the Muslim world. The financial data for these enterprises was estimated or verified through public sources. At the same time, more than half of the list is comprised of publicly listed companies (56 of the 100) representing the OIC-wide trend of increasing investor confidence in the maturing public markets of the Muslim world.

"Oil company revenue loss during the term of this ranking revealed the true strength of the emerging real-economy sectors of the OIC. The big growth winners of this ranking, Savola Group, BIM, Etihad Airways, PT Adora and others are the new emerging global players from the OIC." says Rafi-uddin Shikoh, Managing Director of Dinar Standard™. "As we speak, oil prices are again back to their highs, and oil-revenue windfall will continue to inject inertia to speed up the OIC economies."

Turkish companies continue to lead the list with 20 represented enterprises, followed by 16 from Malaysia, 13 from Saudi Arabia, and 11 from Indonesia. Other countries represented include the UAE, Iran, Kuwait, Egypt, Morocco, Oman, Algeria, Azerbaijan, Brunei, Jordan, Kazakhstan, Libya, Nigeria, Pakistan, Qatar, Syria, Pakistan, Nigeria, Morocco, Kazakhstan, Bahrain, and Algeria.

The complete DS100™ list can be viewed at http://www.dinarstandard.com/ds100/

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Rafi-uddin Shikoh
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