Retail in Asia

In Markets

Asian challengers emerge

AirAsia, Axiata and Petra Foods are among the new Southeast Asian "challengers" set to make an impact at the international level, according to the Boston Consulting Group.

The consultancy assessed 500 businesses from the region, all of which logged annual sales of USD500 million or more, were growing and profitable, and boasted strong overseas potential. It identified 50 organisations, ranging from USD500m to USD63 billion in size, as "the face of Southeast Asian dynamism".

Rising consumer spending, better regulation and the demand for natural resources and low cost production were found to be these firms’ main drivers of growth.