Pakistani IT, Textile giants among Forbes Asia’s 200 Best Under A Billion Companies
- The annually released list highlights 200 Asia-Pacific public companies with less than $1 billion in revenue and consistent top-and bottom-line growth.
Pakistan’s IT co Systems Limited alongside local textile giant Feroze1888 Mills Ltd has made it to Forbes Asia’s Best Under A Billion 2020 list.
The annually released list highlights 200 Asia-Pacific public companies with less than $1 billion in revenue and consistent top-and bottom-line growth.
Feroze1888 Mills Ltd, which engages in the production, manufacture, and export of yarn and textile terry products, reported sales of $215 million with a Net Income of $44mn and a Market Value of $189mn.
The company founded in 1972 and is headquartered in Karachi offers bath towels and bath robes, beach towels, flour sacks, and other related products for home, hospitality, and healthcare.
Meanwhile, Systems Limited which engages in the provision of business process outsourcing and information technology-enabled solutions reported $50mn sales with a Market Capitalization of $139mn.
The firm founded in 1977 and headquartered in Lahore, Pakistan offers software solutions, automated and unified workflows, and business processes to the government and private institutions. It operates through the following geographical segments: North America, Middle East, and Pakistan.
“I congratulate the Systems Limited Pakistan on making it to the Forbes “Asia's 200 Best Under A Billion 2020” List. It is the only IT sector company from Pakistan which made it to this List,” said Special Assistant to Prime Minister on Trade and Investment Abdul Razak Dawood in a tweet post.
“I have always been a great believer in the entrepreneurship of our people. I am sure these three companies will provide impetus to others to achieve similar laurels,” he added.
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