Country Garden Holdings Company Ltd Makes Fortune Global 500 List For Third Consecutive Year
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By Roubeeni Mohan
The 2019 edition of the Fortune Global 500 list was formally released on July 22, with Wal-Mart, Sinopec, and Shell Oil Company owning the top three spots.
The Fortune Global 500 companies in the aggregate recorded a total operating revenue of US$32.7 trillion, up 8.9 per cent year-on-year, while their profit reached a new high at US$2.15 trillion, up 14.5 per cent. The net profit margin climbed to 6.6 per cent, while the return on net assets advanced to 12.1 per cent.
Country Garden Holdings Company Ltd is a property development company based in Guangdong Province and was listed in the Global Fortune 500 list as one of the most authoritative rankings tabulating the business performance of companies worldwide.
Country Garden has become one of the constituents of FTSE China 50 Index, Hang Seng China 25 Index and MSCI Global Standard Indices.
The firm has also been included in Hang Seng Composite Index, Hang Seng Mainland 100 and Hang Seng China Enterprises Index, demonstrating that the firm’s growth in corporate size, strong profitability and promising growth potential have been recognized by institutional investors.
Country Garden is rated ‘BBB-‘ by Fitch, ‘BB+’ by S&P and ‘Ba1’ by Moody’s (stable outlook), all of which is strong evidence that the three international authoritative credit rating agencies have confidence in the company’s future.
Despite the downturn in the overall Chinese real estate market in the second half of last year and a series of policies put in place to put a brake on the market, Chinese property developers posted outstanding financial results.
Five Chinese real estate firms took their places on the list, unchanged year on year, with two companies among the top 200 for the first time.
Country Garden (02007.HK) posted revenue of US$57.3087 billion (RM229.23 billion), representing a year-on-year rise of 70.7 per cent.
The firm moved up to 177th place in 2019, up 176 positions since last year as well as the biggest upward move for any single company on the list.
This year marked Country Garden’s inclusion in the list for the third consecutive year since its first appearance on the list in 2017, a testament to fast improvements in its strength and size.
