TIME Magazine released its list of the World’s Best Companies in 2024. To make this list, TIME Magazine collaborated with Statista, a leading international provider of market and consumer data and rankings. This list includes five companies from Indonesia.
The five companies listed on the Indonesia Stock Exchange (IDX) are PT Astra International Tbk (ASII), PT Bank Negara Indonesia Tbk (BBNI), PT Adaro Energy Indonesia Tbk (ADRO), PT Bank Mandiri Tbk (BMRI), and PT Charoen Pokphand Indonesia Tbk (CPIN).
The list compiled by TIME and the research institute Statista ranks Astra as the 435th out of 1,000 global companies.
“This recognition is the spirit and motivation of all Astra People to continue working with all stakeholders and provide the best for today and the future of Indonesia,” said Astra’s Head of Corporate Communications, Boy Kelana Soebroto, as reported by Antara.
In creating this list, TIME Magazine and Statista used comprehensive analysis to identify the best-performing companies worldwide. The study is based on three main dimensions: employee satisfaction, revenue growth, and sustainability transparency (ESG).
The World’s Best Companies, compiled by TIME magazine, is an annual list that summarises the best companies in the world. This list is based on the results of a survey conducted by TIME in collaboration with the research institute Statista.
In its ranking, the five Indonesian companies PT Astra International Tbk (ASII) are ranked 435th with a score of 87.54. Then PT Bank Negara Indonesia (Persero) Tbk (BBNI) which is ranked 892 with a score of 79.51.
Then there is PT Adaro Energy Indonesia Tbk (ADRO), ranked 908th with a score of 79.19, followed by PT Bank Mandiri (Persero) Tbk (BMRI), ranked 914 with a score of 78.94, and PT Charoen Pokphand Indonesia Tbk (CPIN), ranked 961 with a score of 75.58.
Government opinion on the inclusion of 2 State-Owned Companies on the List
The Time World’s Best Companies 2024 List includes PT Bank Negara Indonesia (Persero) Tbk or BNI and PT Bank Mandiri (Persero) Tbk or Mandiri.
Indonesian SOE Minister Erick Thohir said that the inclusion of two SOEs in the list of 1,000 prestigious world companies is an extraordinary achievement.
This is because, in 2023, not a single Indonesian SOE or company was included in this list.
“This recognition from TIME and Statista reaffirms the position of Indonesian companies among other global companies. They should be taken into account,” said Erick.
He continued that this achievement carries a number of important meanings, such as international recognition of the quality of management. In fact, it shows that the two banks’ business practices and good corporate governance are recognised globally.
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