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my %hashName = ( "term1" => 83, "term2" => 20, "term3" => 193 );
my $max;
...
    $max ||= $val;
    $max = $val if $val >= $max;
}

#!/usr/bin/perl

...
__END__

Timing results follow:-

SMALL HASH SIZES:-

...
new      5.13     --   -56%
nosort   2.25   128%     --