August 20, 2014
HONG KONG, 20 August, 2014 - Advanced Card Systems Ltd. (ACS, a wholly owned subsidiary of Advanced Card Systems Holdings Ltd., SEHK: 8210), Asia Pacific's top supplier and one of the world's top 3 suppliers of PC-linked smart card readers (Source: Frost & Sullivan), has been chosen as one of Forbes Asia’s Best Under a Billion companies in 2014. According to Forbes, the annual Best Under a Billion list represents the top 1.1 percent of small and medium enterprises (SMEs) in the Asia Pacific region. This is the second time that ACS has been included in the list, the first being in 2010.
The unranked list is comprised of 200 top-performing Asia-Pacific companies, selected from a pool of 17,000 publicly listed companies with revenues between USD 5 million and USD 1 billion. According to Forbes, eligible companies must not only be profitable; they must also be consistently growing, and with modest indebtedness. Candidates must also be free from major legal trouble and questionable accounting or management practices.
In the past three years, ACS has consistently exceeded its own sales targets resulting in steady profit growth. ACS’s sales revenue in 2013 was historically the highest ever achieved. An annual customer satisfaction survey among ACS clients shows that as of 2014, clients regard their relationship with the company as very good (on a five-point scale ranging from very poor, poor, neutral, good to very good) -which ACS attributes to the trust established between itself and partners, and the simplicity and transparency characterizing ACS business contracts.
“The Best Under a Billion List is not a compilation of top performers in the technology industry. Rather, it is a list that covers all industries, such as manufacturing, construction, software and so forth,” says Denny Wong, founder and CEO of ACS. “We are proud to be part of a list that is screened based not only on profits, but overall excellence, including evidence of integrity. ACS will strive to maintain a standard of excellence in all aspects of our business.”
Advanced Card Systems Ltd. (ACS, wholly owned subsidiary of Advanced Card Systems Holdings Ltd., SEHK: 8210), founded in 1995, is Asia Pacific's top supplier and one of the world's top 3 suppliers of PC-linked smart card readers. ACS is the winner of the Product Quality Leadership Award for Smart Card Readers from Frost & Sullivan. In 2010 and 2014, ACS was listed in Forbes Asia's“Best Under a Billion" list, an inter-industry list comprised of 200 top-performingpublicly listed companies in the Asia-Pacific, with sales between US$5 million and US$1 billion. ACS develops a wide range of high quality smart card reading/writing devices, smart cards and related products and distributes them to over 100 countries worldwide. Visit ACS at http://www.acs.com.hk/.
About Forbes Asia
Forbes Asia is the English language publication of Forbes magazine in the Asia-Pacific region. It publishes an extensive number of original articles on Asia and other regions. Forbes Asia complements the coverage of existing international editions of Forbes in the region including, Forbes China, Forbes India, Forbes Korea and Forbes Indonesia. Get the latest from Forbes Asia at http://www.forbes.com/home_asia/.