This year, 34 of the top 50 companies in Singapore were firms involved in manufacturing activities and wholesale trade. DP Information Group compiled the rankings.
In order to make the rankings, a company must have a positive net profit and a turnover growth of greater than 10 percent for the past three years. The top 50 are then ranked based on the compounded annual growth rate (CAGR) for the last three years.
“The manufacturing sector outstripped the service sector because the price of raw materials like rubber and steel have been going up,” said Janet Young, head of commercial banking at HSBC.
Alloy processor OM Materials was at the top of the list with its growth rate of 565.6 percent CAGR.
“The strong demand from Asia and new emerging markets like the Middle East has also fueled growth,” said Young.
Tire wholesaler Omni United Singapore placed second and was one of the four small and medium enterprises (SMEs) that made it to the top 50. The firm reported revenue of $47 million for fiscal 2005 and plans to top the $100 million mark in the current financial year.
According to Chen Yew Nah, managing director of DP Information Group, there was a “record number of companies that have met the qualifying criteria.” The number increased from 131 companies in 2005 to 211 in 2006.
