2012 DS100 – Top 100 Companies of the OIC* Countries

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The 9th Annual DS100 ranking continues to benchmark the corporate environment of the 57 OIC* (Organization of Islamic Conference) member countries.   With USD 1.76 trillion in total revenues, the 2012 DS100 list of companies recorded a 28% overall growth in annual revenue over the previous reporting period. Comparatively DS100 company revenues are 10.5% of the $101.5 trillion in revenues of the global 100 companies (from Fortune magazine’s 2012 Global 500 list.)

(View Presentation here.  2016 DS100 Ranking & Analysis to be added Dec 30th)

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12 RankNAMECOUNTRYRevenue (USD million)Primary OwnershipSECTORINDUSTRY
1Saudi Arabian Oil Company (Aramco) Saudi Arabia$365,204 GovernmentEnergyOil & Gas - Integrated
2National Iranian Oil Company Iran$110,000GovernmentEnergyOil & Gas - Integrated
3Kuwait Petroleum Corp. Kuwait$104,637GovernmentEnergyOil & Gas - Integrated
4Petroliam Nasional Bhd. (Petronas) Malaysia$79,652GovernmentEnergyOil & Gas - Integrated
5Qatar Petroleum Qatar$79,423GovernmentEnergyOil & Gas - Integrated
6Abu Dhabi National Oil Co. UAE$71,670GovernmentEnergyOil & Gas - Integrated
7South Oil Company (SOC) Iraq$68,640GovernmentEnergyOil & Gas - Integrated
8PT Pertamina (Persero) Indonesia$64,756GovernmentEnergyOil & Gas - Integrated
9Sonatrach Algeria$58,793GovernmentEnergyOil & Gas - Integrated
10Saudi Basic Industries Corp. (SABIC) Saudi Arabia$50,634ListedBasic MaterialsChemical Manufacturing
11Nigerian National Petroleum Corp. Nigeria$46,474GovernmentEnergyOil & Gas - Integrated
12Koc Holding A.S. Turkey$45,354ListedDiversifiedAutomotive, Consumer Durables, Energy, Finance, Food & Retail, IT
13Perusahaan Listrik Negara, PT Indonesia$21,408ListedUtilitiesElectric Utilities
14Petroleum Development Oman Oman$18,358GovernmentEnergyOil & Gas - Integrated
15KazMunayGas Kazakhstan $17,700GovernmentEnergyOil & Gas - Integrated
16Saudi Telecom Company Saudi Arabia$14,842ListedServicesTelecommunications
17Egyptian General Petroleum Corp. Egypt$14,563GovernmentEnergyOil & Gas - Integrated
18The Emirates Group UAE$14,456GovernmentTransportationAirline
19National Oil Company (NOC) Libya$14,400GovernmentEnergyOil & Gas - Integrated
20Petro Rabigh Saudi Arabia$14,231ListedEnergyOil & Gas - Integrated
21Sime Darby Bhd Malaysia$13,507ListedDiversifiedTyre Manufactring, Plantations, Heavy equip., Auto Distrib, Property
22Sabanci Holding Turkey$13,418PrivateDiversifiedFinancial, Retail, Communication , Automotive, Chemicals, Cement
23Pakistan State Oil Company Ltd. Pakistan$12,191ListedEnergyOil & Gas - Integrated
24Tenaga Nasional Bhd Malaysia$11,577ListedUtilitiesElectric Utilities
25Iran Khodro PLC Iran$10,316ListedConsumer CyclicalAuto & Truck Manufacturing
26SOCAR Azerbaijan$10,127GovernmentEnergyOil & Gas - Integrated
27National Iranian Petrochemical Co. Iran$9,678GovernmentBasic MaterialsChemical Manufacturing
28Saipa Corporation Iran$9,322ListedConsumer CyclicalAuto & Truck Manufacturing
29Isbank Turkey$9,310ListedFinanceCommercial Banking
30Emirates Telecom. Corp. (Etisalat) UAE$8,778ListedServicesTelecommunications
31Ooredoo (Qatar Telecom) Qatar$8,721ListedServicesTelecommunications
32Ziraat Bank Turkey$8,271GovernmentFinanceCommercial Banking
33Eurasian Natural Resources Corp. Kazakhstan $7,705ListedBasic MaterialsMining and Metals
34The Lion Group Malaysia$7,623ListedDiversifiedSteel, Retail, Agriculture, Real Estate Operations
35Saudi Electric Company Saudi Arabia$7,540ListedUtilitiesElectric Utilities
36Telkom Indonesia Indonesia$7,401GovernmentServicesTelecommunications
37Eczacibasi Holdings Turkey$6,867PrivateDiversifiedPharmaceuticals, Building Materials, Consumer Products
38Savola Group Saudi Arabia$6,719ListedConsumer Non-CyclicalFood Processing
39Abu Dhabi National Energy (TAQA) UAE$6,584ListedUtilitiesElectric & Water Utilities
40Syrian Petroleum Company Syria$6,562GovernmentEnergyOil & Gas - Integrated
41Turk Telekom Turkey$6,545ListedServicesTelecommunications
42OCP Group Morocco$6,541GovernmentManufacturingPhosphate & Derivatives
43Turkish Airlines Turkey$6,529GovernmentTransportationAirline
44YTL Corporation Berhad Malaysia$6,522ListedDiversifiedElectric Utilities, Construction Services, Real Estate Operations
45Yildiz Holding/ Ulker Turkey$6,255ListedConsumer Non-CyclicalFood Processing
46Genting Berhad Malaysia$6,124ListedDiversifiedLeisure/Hospitality, Plantations, Property, Power, Paper, Oil & Gas
47Telecom. Company of Iran (TCI) Iran$6,114GovernmentServicesTelecommunications
48Felda Holdings Bhd Malaysia$5,979PrivateConsumer Non-CyclicalAgriculture, Forestry, Fishing and Hunting
49Golden Agri-Resources LTD (GAR) Indonesia$5,953ListedConsumer Non-CyclicalPalm Oil
50Bank Mandiri Indonesia$5,925ListedFinanceCommercial Banking
51Brunei Petroleum Brunei$5,891GovernmentEnergyOil & Gas - Integrated
52Bank Rakyat Indonesia Indonesia$5,885ListedFinanceCommercial Banking
53Societe Nationale d'Inv. (ONA) Morocco$5,880PrivateDiversifiedMining & Construction Materials, Agribusiness, Tourism, Financial
54ETA - Ascon Group UAE$5,690PrivateDiversifiedEngineering, Construction, Other
55Saudi Arabian Airlines Saudi Arabia$5,671GovernmentTransportationScheduled Passenger Air Transportation
56Electricity Generation Co. (EUAS) Turkey$5,610GovernmentUtilitiesElectric Utilities
57Orascom Construction Industries* Egypt$5,511ListedCapital GoodsConstruction Services
58DOGUS Holding Co. Turkey$5,486PrivateDiversifiedFinance, Automotive, Retail, Construction
59Bank Saderat Iran Iran$5,481ListedFinanceCommercial Banking
60Maybank Group Malaysia$5,459ListedFinanceCommercial Banking
61Etihad Etisalat Company (Mobily) Saudi Arabia$5,346ListedServicesTelecommunications
62Majid Al Futtaim (MAF) UAE$5,334PrivateServicesRetail & Properties
63Tasnee Saudi Arabia$5,240ListedBasic MaterialsFinancial, Retailing, Comm., Automotive, Chemicals, Cement
64Suez Canal Authority Egypt$5,223GovernmentTransportationMisc. Transport
65IOI Group Malaysia$5,217ListedConsumer Non-CyclicalPalm Oil
66Mansour Group Egypt$5,200PrivateDiversifiedAutomotive, Capital Markets, Retail
67Axiata Group Berhad   Malaysia$5,178ListedServicesTelecommunications
68TurkCell Turkey$5,170ListedServicesTelecommunications
69Enka Holdings Turkey$5,037ListedCapital GoodsConstruction Services
70M.A. Kharafi & Sons (MAK Group) Kuwait$5,000PrivateDiversifiedEngineering, Construction, Other
71Ere?li Iron And Steel (Erdemir) Turkey$4,929ListedBasic MaterialsIron & Steel
72Bank Mellat Iran$4,887ListedFinanceCommercial Banking
73Independent Petroleum Group Kuwait$4,826ListedEnergyPetroleum & Coal Products
74Halkbank Turkey$4,765ListedFinanceCommercial Banking
75Indofood Sukses Indonesia$4,665ListedConsumer Non-CyclicalFood Processing
76Agility Kuwait$4,655ListedTransportationGeneral Freight Trucking
77Kazakhstan Temir Zholy Kazakhstan $4,647UnlistedTransportationRailroads
78(Zain) Mobile Telecom. Company Kuwait$4,622ListedServicesTelecommunications
79Vakif Bank Turkey$4,612ListedFinanceCommercial Banking
80Bumiputra-Commerce (CIMB) Malaysia$4,589ListedFinanceCommercial Banking
81BIM Birlesik Magazalar A.S. Turkey$4,523ListedServicesMixed Retailing
82Emke Group (Lulu) UAE$4,500PrivateServicesRetail
83Malaysian Airline System Bhd Malaysia$4,409ListedTransportationAirline
84Consolidated Contractors Intnl. Saudi Arabia$4,376PrivateCapital GoodsConstruction Services
85UMW Holdings Malaysia$4,371ListedDiversifiedAutomotive, Manufacturing and Engineering, Oil & Gas
86SAMIR SA Morocco$4,366ListedEnergyPetroleum Refining
87Gudang Garam Tbk PT Indonesia$4,310ListedConsumer Non-CyclicalTobacco
88Borusan Holding Turkey$4,266PrivateDiversifiedManufacturing (steel pipe, flat steel), Distrib., Logistics, Technology
89Public Bank Bhd. Malaysia$4,119ListedFinanceCommercial Banking
90Etihad Airways UAE$4,100GovernmentTransportationAirline
91Tofa? Türk Otomobil Fabrikas? A.?. Turkey$4,019ListedConsumer CyclicalAutomobile Manufacturing
92PT Bumi Resources Tbk Indonesia$4,001ListedBasic MaterialsCoal Mining
93PT Adaro Energy Tbk Indonesia$3,987ListedBasic MaterialsCoal Mining
94Emirates National Bank of Dubai UAE$3,869ListedFinanceCommercial Banking
95Vestel * Turkey$3,855ListedConsumer CyclicalAppliance & Tools
96Oando Plc Nigeria$3,700ListedEnergyOil & Gas - Refining and Services
97Esfahan Steel Company P J S C Iran$3,672UnlistedBasic MaterialsMetal Products
98National Commercial Bank Saudi Arabia$3,663GovernmentFinanceCommercial Banking
99Qatar National Bank Qatar$3,617ListedFinanceCommercial Banking
100Kuala Lumpur Kepong Berhad Malaysia$3,576ListedConsumer Non-CyclicalPlantation, Oleochemicals, Property

The DS100 is compiled to benchmark the business profile of the OIC member countries corporations. It is not meant to be an investment advice and includes data compiled based on publicly available sources. DinarStandard cannot accept any responsibility for information that is inaccurate or out-of-date, nor can it accept responsibility for any ramifications that this may have for users of this website.

The following is the criteria used to develop the DS100 – Top 100 Companies of the Muslim World list:

  • Only OIC(Organization of Islamic Conference) member country based, domestic (majority owned) businesses included
  • Subsidiaries of Foreign Companies not included
  • Top 100 Ranked by revenue in US$ for last available full End of Year financial (Unless noted otherwise)
  • For Banks- Interest and Non-Interest revenue; For Insurance Companies- Premium, annuity Income, Investment income, gains and losses, excludes deposits
  • In addition to the Publicly listed Companies, Private and Government held entities are also included
  • To truly reflect top businesses in the region, it was important to include Private and Government entities. It is recognized that this would leave open the possibility of many companies not included due to non-availability of public data. DinarStandard has made extensive attempts to make this list comprehensive. However, we recognize that we may have either missed some companies or the data was simply not available due to company policies not to disclose financial data. DS100 will reflect any updates in the Corrections section.
  • Holding Companies were included (For Holding Companies included, their subsidiaries were not included)
  • Central Banks and Sovereign Wealth Funds are not covered
  • Companies that are headquartered in Non-OIC countries but company majority operations in OIC country and shares held majority by OIC member country resident(s)

  • For publicly listed companies Annual Reports or data posted by the Public markets were used. In other cases, various publicly available sources were used. These include sources such as Arab News, Hoovers.com, Forbes Magazine, Financial Times, Bloomberg, Dow Jones News Wires, Privatization Commissions, Chambers of Commerce, and Organizations such as OPEC. In addition many of the companies were contacted directly to verify the data.

The purpose of the DS100 is to portray as close a picture as possible of the leading domestic business activities in the OIC (Organization of Islamic Conference) member countries while providing its corporate managers and strategists with a tool to benchmark trends and identify opportunities.

The DS100 aims to recognize companies that are leading the charge in the global competitive landscape and are making a significant impact on the well-being of their communities.  The ranking is based purely on the 2011 end-of-year annual revenue figures (as EOY 2012 data had not been released by most as yet).

The ranking continues to include government and private enterprises to reflect their disproportionately significance in the OIC member country economies.  Only those private and government enterprises are included for whom data could be estimated or verified through various media sources. Acquiring this verification continues to be a challenge, given limited financial disclosure practices. However, a visible positive trend towards better corporate governance, transparency practices, and privatization is facilitating a clearer view of the corporate environment in the DS100 focused markets.

Please send an email to DS100 [@] dinarstandard.com for any errors/ correction requests or use the Contact Us form.

(View Presentation here.  2016 DS100 Ranking & Analysis to be added Dec 30th)

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