Masan Group Corporation (MSN) has found the 20th place on the Forbes' list of the World's 100 Most Innovative Growth Companies 2015.

Forbes Magazine announced its list last week.

According to the magazine's website,, companies are ranked on the basis of their innovation premium, which is the difference between their market capitalisation and the present net value of cash flows from existing businesses.

According to Forbes, to be considered for the list, firms need at least seven years of public financial data and 10 billion USD in market cap. They should also be in industries known to invest in innovations.

With 67.1 percent growth rate and a value of 2.8 billion USD, the magazine listed Masan in the catalogue of Food, Beverage & Tobacco.

New Zealand-based Xero, which specialises in software and services, topped the list, while other technology companies Netsuite, Ultimate,, and Qlik Technologies followed.

In Vietnam, MSN is considered as one of the most successful private groups.

It has been in the consumption industry and produces seasonings, convenience foods, and beverages. It has its presence in the animal feed industry, natural resources, and banking sector.

In Q1 of 2014, MSN recorded 3.584 trillion VND (164.4 million USD) in revenues, with an EBITDA (Earnings before Interest, Depreciation and Tax) of 930 billion VND (42.66 million USD) and 57 billion VND (2.6 million USD) of net profit after tax.

The firm has set its target revenue for 2015 at 2 billion USD.

On May 22, each share of MSN closed at 81,500 VND (3.7 USD) on the Ho Chi Minh City stock exchange.-VNA