This survey covers the performance of the top companies in 10 countries in Asia. Investors and other executives from financial centers such as Hong Kong, Singapore, New York and London are among those who participated in this survey. We had 497 votes.
Best Managed Company, Best Investor Relations, Most Committed to Shareholder Value - Infosys Technologies
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Best Managed Company | ||
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Rank | Company | Votes |
1 | Infosys Technologies | 32 |
2 | Reliance Industries | 18 |
3 | HDFC Bank | 11 |
4 | Hindustan Lever | 8 |
5 | ICICI | 6 |
6 | Ranbaxy Labs | 5 |
7 | Tata Iron & Steel | 3 |
7 | Satyam Computer | 3 |
7 | Wipro | 3 |
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Best in Investor Relations | ||
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Rank | Company | Votes |
1 | Infosys Technologies | 20 |
2 | Reliance Industries | 11 |
3 | HDFC Bank | 8 |
4 | Hindustan Lever | 5 |
4 | ICICI | 5 |
4 | Wipro | 5 |
5 | Ranbaxy Labs | 2 |
5 | Tata Iron & Steel | 2 |
5 | Zee Telefilms | 2 |
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Commitment to Shareholder Value | ||
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Rank | Company | Votes |
1 | Infosys Technologies | 37 |
2 | HDFC Bank | 10 |
3 | Reliance Industries | 5 |
4 | Hindustan Lever | 3 |
4 | Ranbaxy Labs | 3 |
4 | Wipro | 3 |
5 | Tata Iron & Steel | 1 |
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Infosys Technologies, India's second-biggest computer software company, picked up the most votes in three categories, though not, ironically, in the area of e-commerce, where it came second.
It won rave reviews for its corporate governance, transparency, skilled management and corporate culture. These factors have enabled it to keep key personnel in a competitive environment, increase revenue and profitability and enhance shareholder value.
As one respondent wrote: "The company seems to satisfy all its stakeholders - the employees, the shareholders, government and the public ... a company can hardly be more transparent."
Infosys's earnings are growing faster than any other company's in India. In the third quarter ended December the company's net profit rose 125% to Rs1.66 billion ($36 million). Infosys, like other Indian software companies, are able to write software for customers all around the world yet keep costs lower than rivals in countries where labour costs are higher.
Now the company is betting its future on the growth of applications for wireless communications. It expects to have 325 people working on wireless technologies by January 2002 from just over 50 today. The company has also teamed up with Nortel Networks of the US to build a wireless "center of excellence" in Infosys's new software facility in Bangalore, India's high-tech hub.
Raves one respondent: "Infosys has shifted the paradigm for Indian companies. It set new standards for transparency and disclosure, employee participation in stock ownership, and broke new ground in listing on NASDAQ. It has consistently delivered superior returns to stakeholders, kept its business model updated and has effectively anticipated market trends."
"Infosys is transparent and investor-friendly, with an excellent work atmosphere, motivated employees and an excellent infrastructure," said another voter. "It's a great team."
Best E-commerce Strategy - ICICI
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Best E-commerce Strategy | ||
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Rank | Company | Votes |
1 | ICICI | 18 |
1 | Infosys Technologies | 18 |
3 | HDFC Bank | 15 |
4 | Wipro | 8 |
5 | Hindustan Lever | 6 |
6 | Reliance Industries | 3 |
7 | Ranbaxy Labs | 1 |
7 | Tata Iron & Steel | 1 |
7 | Satyam Computer | 1 |
7 | Zee Telefilms | 1 |
7 | NIIT | 1 |
7 | rediff.com | 1 |
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ICICI, India's second-biggest lender and the first Indian company to list on the New York Stock Exchange, pips Infosys and arch-rival HDFC Bank to the post as the company with the best e-commerce strategy.
Last year ICICI Bank and Chennai Telephones launched a program under which telephone bills can be paid via the internet by telephone subscribers. ICICI Bank has a network of 85 branches and 208 ATMs. In Chennai it has seven branches and 19 ATMs with a customer base of 45,000. The tie-up with Chennai Telephones let customers view their bills online before making a payment without having to enter any bill details or telephone number.
The bank is also leading the way in other areas of electronic commerce, including electronic bill payment. It has joined up with online shopping malls such as Rediff.com, Fabmart.com and Indiainfo.com to give customers the ability to pay for products and services from these sites over the internet.
ICICI in March sold 5% of its banking unit to Prudential Assurance of the UK.
The results of this poll first appeared in the April issue of FinanceAsia magazine. To buy a copy please send and e-mail to: [email protected].
