UNCTAD

World Investment Report

Annex table 27. The top 100 non-financial TNCs from developing and transition economies, ranked by foreign assets, 2008 a
(Millions of dollars and number of employees) Ranking by:
Foreign assets TNI b

Assets Corporation Hutchison Whampoa Limited CITIC Group Cemex S.A. Samsung Electronics Co., Ltd. Petronas - Petroliam Nasional Bhd Hyundai Motor Company China Ocean Shipping (Group) Company Lukoil Vale S.A Petrleos De Venezuela Zain Jardine Matheson Holdings Ltd Singtel Ltd. Formosa Plastics Group Tata Steel Ltd. Petroleo Brasileiro S.A. - Petrobras Hon Hai Precision Industries Metalurgica Gerdau S.A. Abu Dhabi National Energy Company Oil And Natural Gas Corporation MTN Group Limited LG Corp. Evraz Qatar Telecom Amrica Mvil Capitaland Limited China National Petroleum Corporation New World Development Co., Ltd. Hindalco Industries Limited STX Corporation Axiata Group Bhd Severstal Wilmar International Limited China Resources Enterprises China Merchants Holdings International Ternium SA China State Construction Engineering Corp. YTL Corp. Berhad First Pacific Company Limited Tata Motors Ltd Home economy Hong Kong, China China Mexico Korea, Republic of Malaysia Korea, Republic of China Russian Federation Brazil Venezuela, Bolivarian Republic of Kuwait Hong Kong, China Singapore Taiwan Province of China India Brazil Taiwan Province of China Brazil United Arab Emirates India South Africa Korea, Republic of Russian Federation Qatar Mexico Singapore China Hong Kong, China India Korea, Republic of Malaysia Russian Federation Singapore Hong Kong, China Hong Kong, China Argentina China Malaysia Hong Kong, China India Industry
c

Sales Total 87 745 238 725 45 084 83 738 106 416 82 072 36 253 71 461 79 931 131 832 19 761 22 098 21 887 76 587 23 868 125 695 26 771 25 750 23 523 30 456 18 281 51 517 19 448 20 412 31 481 17 429 264 016 22 775 12 653 18 338 10 783 22 480 17 869 9 013 7 388 10 671 29 873 11 102 7 199 14 359 Foreign 25 006 5 427 17 982 88 892 32 477 33 874 18 041 87 637 30 939 52 494 6 034 16 831 6 745 17 078 26 426 40 179 21 727 10 274 3 376 4 238 7 868 44 439 12 805 4 077 17 323 1 355 4 384 1 304 11 371 1 668 1 746 9 325 22 144 7 483 564 5 357 3 619 968 4 105 9 869 Total 30 236 22 230 21 830 110 321 77 094 72 523 27 431 107 680 37 426 126 364 7 452 22 362 10 374 66 259 32 168 146 529 61 810 23 182 4 576 27 684 12 403 82 060 20 380 5 582 31 026 1 946 165 224 3 144 14 338 12 914 3 406 22 393 29 145 8 299 595 8 465 29 080 1 966 4 105 15 635

Employment Foreign 182 148 18 305 41 586 77 236 7 847 22 066 4 581 23 000 4 725 5 140 1 151 79 276 9 058 70 519 45 864 6 775 515 626 22 315 1 839 3 921 10 870 32 962 29 480 1 539 36 353 5 935 20 489 17 262 13 447 246 18 975 12 662 12 906 136 800 4 988 10 042 15 765 1 931 66 416 17 998
d

Foreign 70 762 43 750 40 258 28 765 28 447 28 359 28 066 21 515 19 635 19 244 18 746 17 544 17 326 16 937 16 826 15 075 14 664 13 658 13 519 13 477 13 266 13 256 11 196 10 598 10 428 9 852 9 409 9 061 8 564 8 308 8 184 8 066 7 812 7 371 7 154 7 063 7 015 7 014 6 998 6 767

Total 220 000 90 650 56 791 161 700 39 236 78 270 69 648 152 500 62 490 61 909 15 000 150 000 20 000 94 268 80 782 74 240 611 000 46 000 2 383 33 035 16 452 64 000 134 000 1 832 52 879 10 500 1 086 966 55 000 19 867 544 25 000 96 695 23 313 144 000 5 055 15 651 113 251 6 232 66 452 49 473

TNI b (Per cent) 82.0 21.0 81.6 54.2 29.6 36.5 49.9 42.2 38.3 21.5 61.2 69.2 63.2 40.9 69.8 16.2 58.1 48.6 69.5 23.8 67.4 43.8 47.5 69.7 52.6 60.9 2.7 37.5 71.6 34.5 67.7 30.2 58.4 89.0 96.8 64.5 16.6 47.8 99.0 48.9

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40

9 88 11 41 79 71 46 61 67 85 30 22 29 64 18 91 35 49 21 82 24 58 53 20 44 33 100 69 17 74 23 77 34 7 2 27 90 51 1 48

Diversified Diversified Non-metalic mineral products Electrical & electronic equipment Petroleum expl./ref./distr. Motor vehicles Transport and storage Petroleum and natural gas Mining & quarrying Petroleum expl./ref./distr. Telecommunications Diversified Telecommunications Chemicals Metal and metal products Petroleum expl./ref./distr. Electrical & electronic equipment Metal and metal products Utilities (Electricity, gas and water) Petroleum expl./ref./distr. Telecommunications Electrical & electronic equipment Metal and metal products Telecommunications Telecommunications Construction and real estate Petroleum expl./ref./distr. Diversified Diversified Other equipments goods Telecommunications Metal and metal products Food, beverages and tobacco Petroleum expl./ref./distr. Diversified Metal and metal products Construction and real estate Utilities (Electricity, gas and water) Electrical & electronic equipment Automobile 1 of 3

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World Investment Report

Annex table 27. The top 100 non-financial TNCs from developing and transition economies, ranked by foreign assets, 2008 a
(Millions of dollars and number of employees) Ranking by:
Foreign assets TNI b

Assets Corporation Asustek Computer Inc Orascom Telecom Holding Quanta Computer Inc Sasol Limited Shangri-La Asia Limited Orient Overseas International Ltd Sinochem Corp. CLP Holdings Sappi Limited JSFC Sistema Netcare Limited Flextronics International Ltd. Posco Suzlon Energy Limited China National Offshore Oil Corp. Genting Berhad Steinhoff International holdings Gold Fields Limited Medi Clinic Corp. Limited Li & Fung Limited Fraser & Neave Limited Pou Chen Corp. Acer Inc. MMC Norilsk Nickel Noble Group Limited Sime Darby Berhad China Communications Construction Co. Telefonos De Mexico S.A. De C.V. Swire Pacific Limited Naspers Limited Keppel Corporation Limited Taiwan Semiconductor Manufacturing Co Lt Guangdong Investment Limited VimpelCom Beijing Enterprises Holdings Ltd. Enka Insaat ve Sanayi FEMSA-Fomento Economico Mexicano China Railway Construction Corporation Ltd ZTE Corp. Chi MEI Optoelectronics Home economy Taiwan Province of China Egypt Taiwan Province of China South Africa Hong Kong, China Hong Kong, China China Hong Kong, China South Africa Russian Federation South Africa Singapore Korea, Republic of India China Malaysia South Africa South Africa South Africa Hong Kong, China Singapore Taiwan Province of China Taiwan Province of China Russian Federation Hong Kong, China Malaysia China Mexico Hong Kong, China South Africa Singapore Taiwan Province of China Hong Kong, China Russian Federation China Turkey Mexico China China Taiwan Province of China Industry
c

Sales Total 10 998 9 757 9 250 18 977 6 923 7 702 19 825 17 138 6 109 29 159 6 642 11 317 37 345 7 370 59 917 8 790 7 194 8 491 5 395 4 839 9 444 6 929 7 418 20 823 8 153 10 061 31 911 13 528 25 552 5 746 11 636 17 030 4 031 15 725 6 670 7 767 13 377 32 204 7 642 18 099 Foreign 9 522 2 947 4 930 7 781 1 120 2 196 34 218 3 060 5 483 3 983 1 516 15 728 13 512 4 714 4 475 667 3 492 1 443 1 341 13 873 2 222 5 518 16 495 1 998 11 404 6 065 5 599 2 464 1 879 995 2 562 6 139 946 1 520 2 524 3 256 4 792 2 475 3 860 187 Total 21 157 5 305 25 946 21 676 1 353 6 545 44 280 6 972 5 863 16 671 2 904 30 948 37 966 5 685 28 028 2 726 5 636 3 223 2 294 14 218 3 519 6 622 17 311 13 980 36 090 8 827 25 740 11 140 3 168 3 018 8 346 10 558 975 10 117 2 530 6 956 15 082 31 571 6 373 10 081

Employment Foreign 63 974 11 376 20 297 6 041 1 274 7 012 225 1 589 9 850 11 000 9 203 156 273 2 386 10 087 1 739 16 631 15 397 2 594 15 799 10 839 7 724 226 782 5 677 4 000 2 006 25 432 1 703 18 812 27 000 7 790 18 352 2 708 4 063 10 233 28 260 19 286 40 631 18 613 19 031 6 325
d

Foreign 6 746 6 718 6 711 6 679 6 587 6 412 6 409 6 071 5 933 5 698 5 590 5 338 5 335 5 310 5 247 5 139 5 060 4 839 4 788 4 761 4 717 4 553 4 455 4 389 4 346 4 307 4 010 3 948 3 903 3 821 3 820 3 813 3 749 3 726 3 662 3 540 3 508 3 146 3 143 3 070

Total 104 294 16 522 60 900 34 000 25 100 8 236 26 632 5 717 15 156 80 000 28 884 160 000 16 707 14 000 51 000 27 296 41 493 49 715 17 800 14 438 15 134 345 185 6 727 88 100 4 800 100 000 93 019 54 317 70 000 11 715 35 621 22 843 4 267 38 403 37 000 40 886 122 981 190 545 61 350 37 623

TNI b (Per cent) 55.9 64.4 41.6 29.6 61.0 67.3 36.8 35.7 85.2 19.1 56.1 65.2 21.4 75.7 9.4 47.9 56.5 35.7 78.7 90.3 54.7 71.6 79.9 13.3 42.2 45.7 12.1 28.6 37.7 55.3 38.3 30.8 95.1 21.8 77.0 46.5 30.3 9.1 44.2 11.9

41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80

38 28 62 78 32 25 70 72 8 89 37 26 86 15 98 50 36 73 13 5 40 16 12 93 60 55 94 80 68 39 66 75 3 83 14 54 76 99 56 95

Electrical & electronic equipment Telecommunications Electrical & electronic equipment Chemicals Other consumer services Transport and storage Petroleum expl./ref./distr. Utilities (Electricity, gas and water) Wood and paper products Telecommunications Other consumer services Electrical & electronic equipment Metal and metal products Diversified Petroleum expl./ref./distr. Other consumer services Other consumer goods Metal and metal products Other consumer services Wholesale trade Food, beverages and tobacco Other consumer goods Electrical & electronic equipment Wholesale trade Diversified Construction and real estate Telecommunications Business services Other consumer services Diversified Electrical & electronic equipment Diversified Telecommunications Diversified Construction and real estate Food, beverages and tobacco Construction Other consumer goods Electrical & electronic equipment 2 of 3

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World Investment Report

Annex table 27. The top 100 non-financial TNCs from developing and transition economies, ranked by foreign assets, 2008 a
(Millions of dollars and number of employees) Ranking by:
Foreign assets TNI b

Assets Corporation Mechel United Microelectronics Corporation Inventec Company Lenovo Group San Miguel Corporation Neptune Orient Lines Ltd. Shougang Concord International Compal Electronics Inc PTT Public Company Limited National Industries Group Holdings SAK Tanjong Public Limited Company Qisda Corp. (Benq) Road King Infrastructure Limited TMK Techtronic Industries Company Limited Wistron Corp. China Minmetals Corp. TPV Technology Limited Agility Public Warehousing Company Turkcell Iletisim Hizmetleri AS Home economy Russian Federation Taiwan Province of China Taiwan Province of China China Philippines Singapore Hong Kong, China Taiwan Province of China Thailand Kuwait Malaysia Taiwan Province of China Hong Kong, China Russian Federation Hong Kong, China Taiwan Province of China China China Kuwait Turkey Industry
c

Sales Total 12 010 6 594 3 935 6 308 7 117 5 445 2 713 5 954 25 252 6 279 3 451 3 936 2 698 7 071 2 811 4 249 13 484 3 354 5 949 8 068 Foreign 1 385 2 153 1 911 8 467 458 7 150 1 783 4 579 5 993 264 455 2 678 535 2 302 3 418 2 458 4 318 6 860 2 719 514 Total 9 951 3 068 12 016 14 901 3 774 9 285 2 243 15 171 59 931 420 1 101 5 372 595 5 690 3 418 14 153 26 668 9 247 6 845 6 970

Employment Foreign 8 244 5 481 26 294 5 201 2 383 3 452 3 546 25 239 798 1 364 902 16 338 1 008 4 101 12 098 20 136 798 19 256 14 242 2 979
d

Foreign 2 911 2 901 2 874 2 732 2 655 2 640 2 630 2 573 2 525 2 504 2 445 2 441 2 428 2 361 2 334 2 316 2 269 2 266 2 264 2 263

Total 83 670 12 458 27 799 22 511 15 344 11 000 3 900 43 182 7 989 3 423 2 484 33 504 1 105 48 494 19 354 35 875 44 425 28 500 37 418 10 620

TNI b (Per cent) 16.0 52.7 61.2 41.1 21.7 52.3 89.1 43.9 10.0 47.5 49.5 53.5 90.4 27.4 81.8 42.7 11.6 69.8 38.6 21.2

81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100

92 43 31 63 84 45 6 57 97 52 47 42 4 81 10 59 96 19 65 87

Metal and metal products Electrical & electronic equipment Electrical & electronic equipment Electrical & electronic equipment Food, beverages and tobacco Transport and storage Metal and metal products Other consumer goods Petroleum expl./ref./distr. Diversified Pharmaceuticals Electrical & electronic equipment Transport and storage Metal and metal products Other equipments goods Other equipments goods Metal and metal products Wholesale trade Construction and real estate Telecommunications

Source: UNCTAD/Erasmus University database.

a b c d

All data are based on the companies' annual reports unless otherwise stated. TNI, the Transnationlity Index, is calculated as the average of the following three ratios: foreign assets to total assets, foreign sales to total sales and foreign employment to total employment. Industry classification for companies follows the United States Standard Industrial Classification as used by the United States Securities and Exchange Commission (SEC). In a number of cases foreign employment data were calculated by applying the share of foreign employment in total employment of the previous year to total employment of 2008.

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