Singapore is a sovereign island country in maritime Southeast Asia. A global city, it has a highly developed market economy, based historically on extended entrepôt trade and more recently as a financial hub as well. Its economy is known as the most freest, most innovative, most competitive, most dynamic and most business-friendly in the world by various multinational economists, think-tanks and organisations.[1] Furthermore, Singapore is also consistently ranked as one of the least corrupt countries in the world, and the most transparent in all of Asia on the Corruption Perceptions Index (CPI).[2]
Singapore is a wealthy country, and is one of the original Four Asian Tigers, having also surpassed its peers in terms of GDP per capita, being the second highest in the world. Between 1965 and 1995, growth rates averaged around 6 per cent per annum, transforming the living standards of the population within a single generation.[3] To start a business in Singapore, business owners have to register with the Accounting and Corporate Regulatory Authority (ACRA).[4] ACRA is the national regulator and company registrar of business entities, accountants and service providers in Singapore.
Largest firms
editLargest public companies
editThis list shows firms in the Forbes Global 2000, which ranks the world's largest public companies for 2022.[5] Only the top five firms (if available) are included as a sample.
Rank | Image | Name | 2022 revenues (USD billion) | 2022 assets (USD billion) | Notes |
---|---|---|---|---|---|
218 | OCBC Bank | 22.9 | 402.2 | OCBC Bank is a publicly listed financial services organisation and is the second-largest bank in Southeast Asia by total assets. | |
244 | DBS Group | 12.4 | 509.1 | DBS Bank is a multinational banking and financial services corporation. | |
362 | Wilmar International | 65.8 | 58.7 | Wilmar is an agribusiness acting as a holding company for more than 400 subsidiaries. | |
367 | UOB | 8.9 | 340.7 | UOB is a Singaporean multinational banking organisation, with branches mostly found in most Southeast Asian countries. | |
735 | Singtel | 11.8 | 35.0 | Singapore's largest telecommunications company with operations in Asia, Australia and Africa. |
By total revenue
editThis list shows firms in the Fortune Global 500, which ranks firms by total revenue for 2022.[6] Only the top five firms (if available) are included as a sample.
Rank | Image | Name | 2022 revenues (USD billion) | Employees | Notes |
---|---|---|---|---|---|
19 | Trafigura Group | 231.308 | 9,031 | Parent (Trafigura Beheer BV) is a Swiss/Dutch entity, but primary operations are from the Trafigura Group in Singapore. | |
192 | Wilmar International | 65.793 | 100,000 | Wilmar is an agribusiness acting as a holding company for more than 400 subsidiaries. | |
406 | Olam Group | 24.419 | 62,548 | Olam Group is a food and an agribusiness company founded in Nigeria; with primary operations and headquarters in Singapore. |
Notable firms
editThis list includes notable companies with primary headquarters located in the country. The industry and sector follow the Industry Classification Benchmark taxonomy. Organizations which have ceased operations are included and noted as defunct.
Name | Industry | Sector | Headquarters | Founded | Notes | Status | |
---|---|---|---|---|---|---|---|
2C2P | Industrials | Financial administration | Singapore | 2003 | Money movement | P | A |
ABR Holdings | Financials | Real estate holding & development | Singapore | 1978 | Development of food retail properties, SGX: 533
|
P | A |
Aetos Security Management | Industrials | Business support services | Singapore | 2004 | Security services | P | A |
Agoda | Consumer services | Travel & tourism | Singapore | 2005 | Travel agency | P | A |
AIBI International | Consumer goods | Recreational products | Singapore | 1985 | Health and fitness products | P | A |
Awfully Chocolate | Consumer goods | Food products | Singapore | 1998 | Confectionery | P | A |
Ayam Brand | Consumer goods | Food products | Singapore | 1892 | Prepared foods | P | A |
Bee Cheng Hiang | Consumer goods | Food products | Singapore | 1933 | Singaporean cuisine | P | A |
Bengawan Solo | Consumer goods | Food products | Singapore | 1979 | Singaporean cuisine | P | A |
BlueSG | Consumer services | Car rental | Singapore | 2017 | Electric car rental | P | A |
Boustead Singapore | Industrials | Business support services | Singapore | 1828 | Engineering, SGX: F9D
|
P | A |
BreadTalk | Consumer goods | Food products | Singapore | 2000 | Bakery, SGX: 5DA
|
P | A |
Broadcom Limited | Technology | Semiconductors | Singapore (Dual HQ in US) | 1961 | Nasdaq: AVGO | P | A |
CapitaLand | Financials | Real estate holding & development | Singapore | 2000 | Developer, SGX: C31
|
P | A |
Carousell | Technology | Software | Singapore | 2012 | E-commerce platform | P | A |
Certis CISCO | Industrials | Business support services | Singapore | 1958 | Private security | P | A |
Charles & Keith | Consumer services | Apparel retailers | Singapore | 1996 | Clothing retailer | P | A |
China Aviation Oil | Oil & gas | Exploration & production | Singapore | 1993 | SGX: G92
|
P | A |
Circles.Life | Telecommunications | Fixed-line telecommunications | Singapore | 2016 | Telecom | P | A |
City Developments Limited | Financials | Real estate holding & development | Singapore | 1963 | Developer, SGX: C09
|
P | A |
Cold Storage | Consumer services | Food retailers & wholesalers | Singapore | 1908 | Supermarket chain | P | A |
ComfortDelGro | Consumer services | Travel & tourism | Singapore | 2003 | Passenger transport, SGX: C52
|
P | A |
Courts Singapore | Consumer goods | Furniture | Singapore | 1974 | Electronics and furniture | P | A |
Creative Technology | Technology | Computer hardware | Singapore | 1981 | SGX: C76
|
P | A |
DBS Bank | Financials | Banks | Singapore | 1968 | SGX: D05
|
P | A |
dnata Singapore | Industrials | Delivery services | Singapore | 1997 | Ground handling | P | A |
Eu Yan Sang | Consumer services | Specialty retailers | Singapore | 1879 | Traditional Chinese medicine retailers | P | A |
Far East Orchard | Consumer services | Hotels | Singapore | 1967 | Hotels, part of Far East Organization | P | A |
Far East Organization | Financials | Real estate holding & development | Singapore | 1962 | Property development | P | A |
FilmTack | Industrials | Building materials & fixtures | Singapore | 1980 | Glass tinting | P | A |
Flextronics | Industrials | Electronic equipment | Singapore | 1964 | Manufacturing | P | A |
Fraser and Neave | Consumer goods | Food products | Singapore | 1883 | SGX: F99
, creator of Tiger Beer and 100plus |
P | A |
Frasers Property | Financials | Real estate holding & development | Singapore | 1963 | Property development | P | A |
Gardenia Foods | Consumer goods | Food products | Singapore | 1978 | Bakery, SGX: Q01
|
P | A |
Garena | Technology | Software | Singapore | 2009 | Game and software development | P | A |
Genting Singapore | Consumer services | Travel & tourism | Singapore | 1984 | Hospitality and tourism | P | A |
GIC | Conglomerates | – | Singapore | 1981 | State-owned holding company | S | A |
GlobalRoam | Telecommunications | mobile telecommunications | Singapore | 2001 | information technology | P | A |
Golden Agri-Resources | Basic materials | Commodity chemicals | Singapore | 1996 | Palm oil | P | A |
Grab | Technology | Internet | Singapore | 2012 | Car and Taxi hailing service | P | A |
Great Eastern Life | Financials | Life insurance | Singapore | 1908 | Life insurance | P | A |
Haw Par Corporation | Consumer goods | Ointments and liniments | Singapore | 1969 | SGX: H02
, inventor of Tiger Balm |
P | A |
Hyflux | Industrials | Heavy construction | Singapore | 1989 | Energy infrastructure construction | P | D |
Jean Yip Group | Consumer Services | Specialized consumer services | Singapore | 2004 | Beauty salon chain | P | A |
Jetstar Asia Airways | Consumer Services | Airlines | Singapore | 2004 | Low-cost airline | P | A |
John Little | Consumer services | Broadline retailers | Singapore | 1845 | Acquired by Robinsons & Co. | P | D |
Jurong Port | Industrials | Transportation services | Singapore | 2001 | Port operator | P | A |
JTC Corporation | Financials | Real estate holding & development | Singapore | 1968 | State-owned developer | S | A |
Keppel Corporation | Industrials | Diversified industrials | Singapore | 1968 | World's largest oil rig builder; SGX: BN4
|
P | A |
Killiney Kopitiam | Consumer services | Restaurants & bars | Singapore | 1919 | Café chain for Singaporean cuisine | P | A |
Kopitiam | Consumer services | Restaurants & bars | Singapore | 1988 | Food court for Singaporean cuisine | P | A |
Koka | Consumer goods | Food products | Singapore | 1986 | Prepared foods | P | A |
Koufu | Consumer goods | Restaurants & bars | Singapore | 2002 | Food court chain | P | A |
Lazada | Technology | Software | Singapore | 2012 | E-commerce platform | P | A |
M1 Limited | Telecommunications | Fixed-line telecommunications | Singapore | 1994 | Telecom | P | A |
Marshall Cavendish | Consumer services | Specialty retailers | Singapore | 1968 | Books | P | A |
Mediacorp | Consumer services | Broadcasting & entertainment | Singapore | 1963 | Diversified media holdings | P | A |
MindChamps | Consumer services | Education | Singapore | 1998 | SGX: CNE
|
P | A |
Mr Bean | Consumer goods | Food products | Singapore | 1995 | Singaporean cuisine and soy products | P | A |
MyRepublic | Telecommunications | Fixed line telecommunications | Singapore | 2011 | Telecom | P | A |
NETS | Financials | Electronic payment services | Singapore | 1985 | Payments and financial processing services | P | A |
Neptune Orient Lines | Industrials | Marine transportation | Singapore | 1958 | Cargo shipping; merged with CMA CGM | P | D |
Northstar Group | Financials | Equity investment instruments | Singapore | 2003 | Investment holdings | P | A |
NTUC FairPrice | Consumer services | Food retailers & wholesalers | Singapore | 1973 | Supermarket chain | P | A |
OCBC Bank | Financials | Banks | Singapore | 1932 | SGX: O04
|
P | A |
Old Chang Kee | Consumer goods | Food products | Singapore | 1956 | Singaporean cuisine | P | A |
O' Coffee Club | Consumer services | Restaurants & bars | Singapore | 1991 | Café chain | P | A |
Olam International | Basic materials | Raw materials | Singapore | 1989 | SGX: O32
, majority owned by Temasek Holdings |
P | A |
Omni United | Industrials | Commercial tires | Singapore | 2003 | Tire manufacturer | P | A |
On Cheong Jewellery | Consumer services | Specialty retailers | Singapore | 1936 | Jewelry | P | A |
Osim International | Consumer services | Specialty retailers | Singapore | 1980 | Healthy lifestyle retailer, SGX: O23
|
P | A |
PSA International | Industrials | Transportation services | Singapore | 1964 | Port operator, SGX: N06
|
P | A |
Pokka | Consumer goods | Assorted beverages | Singapore (Dual HQ in JP) | 1977 | Controls and manufactures the international market | P | A |
Popular Holdings | Consumer services | Specialty retailers | Singapore | 1924 | Books, SGX: P29
|
P | A |
POSB Bank | Financials | Banks | Singapore | 1877 | Bank, part of DBS Bank | P | A |
Prima Taste | Consumer goods | Food products | Singapore | 1998 | Prepared foods | P | A |
Prime Supermarket | Consumer services | Food retailers & wholesalers | Singapore | 1984 | Supermarket chain | P | A |
Razer | Technology | Hardware | Singapore | 2005 | Gaming hardware | P | A |
Renewable Energy Corporation | Industrials | Electrical components & equipment | Singapore | 1996 | Solar energy manufacturer | P | A |
RSP Architects Planners & Engineers | Industrials | Engineering and contracting services | Singapore | 1956 | Architecture, engineering, and design company privately-owned by Peter Lim | P | A |
Robinsons & Co. | Consumer services | Broadline retailers | Singapore | 1858 | Operates a chain of department stores | P | A |
SATS Ltd | Industrials | Transportation services | Singapore | 1972 | Airline support, SGX: S58
|
P | A |
SATS Security Services | Industrials | Transportation services | Singapore | 1965 | Subsidiary of SATS | P | A |
SBS Transit | Consumer services | Travel & tourism | Singapore | 1973 | Passenger transportation, SGX: S61
|
P | A |
Scoot | Consumer services | Airlines | Singapore | 2011 | Low-cost airline | P | A |
Sea Limited | Conglomerates | – | Singapore | 2019 | Owns Garena and Shopee | P | A |
Secretlab | Consumer goods | Furniture | Singapore | 2014 | Gaming chairs | P | A |
Sembcorp | Industrials | Diversified industrials | Singapore | 1963 | Urban and utility development, SGX: U96
|
P | A |
SembCorp Marine | Industrials | Commercial vehicles & trucks | Singapore | 1963 | SGX: S51
|
P | A |
Senoko Energy | Utilities | Conventional electricity | Singapore | 1977 | Operates the Senoko Power Station | P | A |
SIA Engineering Company | Industrials | Aerospace | Singapore | 1992 | SGX: S59
|
P | A |
Singapore Press Holdings | Financials | Real estate holding & development | Singapore | 1984 | Real estate holdings; merged with Cuscaden Peak | P | D |
SPH Media Trust | Consumer services | Publishing | Singapore | 2021 | Publisher | P | A |
SMRT Corporation | Consumer services | Travel & tourism | Singapore | 2000 | Public transportation | P | A |
SGAG | Consumer services | Broadcasting & entertainment | Singapore | 2012 | Social media website and news media company | P | A |
Shaw Organisation | Consumer services | Entertainment & media | Singapore | 1925 | Film distribution and cinemas company | P | A |
Sheng Siong | Consumer services | Food retailers & wholesalers | Singapore | 1985 | Supermarkets | P | A |
Shopee | Technology | Software | Singapore | 2015 | E-commerce platform | P | A |
SilkAir | Consumer services | Airlines | Singapore | 1992 | Regional airline, merged with Singapore Airlines | P | D |
Singapore Airlines | Consumer services | Airlines | Singapore | 1947 | SGX: S55
|
P | A |
Singapore Airlines Cargo | Industrials | Airlines | Singapore | 2001 | Cargo airline, part of Singapore Airlines | P | A |
Singapore Exchange | Financials | Investment services | Singapore | 1999 | Exchange | P | A |
Singapore Pools | Consumer services | Lottery | Singapore | 1968 | Part of the Tote Board under the Ministry of Finance | S | A |
Singapore Petroleum Company Limited | Oil & gas | Exploration & production | Singapore | 1969 | SGX: S99
|
P | A |
Singlife | Financials | Full line insurance | Singapore | 2017 | Insurance | P | A |
SP Group | Utilities | Conventional electricity | Singapore | 1995 | Part of Temasek Holdings | S | A |
Singapore Post | Industrials | Delivery services | Singapore | 1819 | SGX: S08
|
P | A |
Singtel | Telecommunications | Mobile telecommunications | Singapore | 1992 | Mobile network, SGX: Z74
|
P | A |
ST Engineering | Industrials | Diversified industrials | Singapore | 1967 | Aerospace, electronics | P | A |
Standard Chartered Singapore | Financials | Banks | Singapore | 1859 | Subsidiary of Standard Chartered | P | A |
StarHub | Telecommunications | Fixed-line telecommunications | Singapore | 1998 | SGX: T54
|
P | A |
Surbana Jurong | Industrials | – | Singapore | 2015 | Part of Temasek Holdings | S | A |
Systems on Silicon Manufacturing | Technology | Semiconductors | Singapore | 1998 | Manufacturing | P | A |
Tangs | Consumer services | Broadline retailer | Singapore | 1932 | Department stores | P | A |
Tee Yih Jia | Consumer goods | Food products | Singapore | 1969 | Food production | P | A |
Temasek Holdings | Conglomerates | – | Singapore | 1974 | State-owned holding company | S | A |
Thakral Corporation | Conglomerates | – | Singapore | 1995[7] | SGX: Y03
|
P | A |
The Cocoa Trees | Consumer goods | Food products | Singapore | 1991 | Confectionery | P | A |
The Hour Glass | Consumer goods | Recreational products | Singapore | 1979 | SGX: AGS
, Luxury watches |
P | A |
Tiger Airways Holdings | Consumer services | Airlines | Singapore | 2007 | SGX: J7X
|
P | D |
Tiger Balm | Consumer goods | Ointments and liniments | Singapore | 1969 | Owned by Haw Par Corporation | P | A |
Twelve Cupcakes | Consumer goods | Food products | Singapore | 2011 | Confectionery | P | A |
TWG Tea | Consumer goods | Tea drinks | Singapore | 2007 | Tea | P | A |
UTAC Group | Technology | Semiconductors | Singapore | 1997 | SGX: U12
|
P | A |
U2opia Mobile | Telecommunications | Mobile technology | Singapore | 2010[8] | Fonetwish | P | A |
Vertex Venture Holdings | Financials | Equity investment instruments | Singapore | 1988 | Investment holdings | P | A |
Wilmar | Basic Materials | Commodity chemicals | Singapore | 1991 | SGX: F34
|
P | A |
Ya Kun Kaya Toast | Consumer services | Restaurants & bars | Singapore | 1944 | Café chain for Singaporean cuisine | P | A |
Yeo Hiap Seng (Yeo's) | Consumer goods | Soft drinks | Singapore | 1900 | SGX: Y03
, part of Far East Organization |
P | A |
YHI International | Industrials | Commercial tires | Singapore | 1948 | Tire manufacturer, SGX: Y08
|
P | A |
Zalora | Technology | Software | Singapore | 2012 | E-commerce platform | P | A |
-
The integrated resort of Marina Bay Sands, that opened in 2010, is one of the world's most photographed buildings
See also
editReferences
edit- ^
- Innovation: Yip, Wai Yee (3 September 2020). "Singapore retains top spot as Asia-Pacific's most innovative nation". The Straits Times. Retrieved 1 March 2024.
- Competitiveness: "Singapore retains top spot as world's most competitive economy". edb.gov.sg. Economic Development Board. Retrieved 1 March 2024.
Jamrisko, Michelle (20 January 2020). "Singapore Leaps Up the Rankings in Bloomberg's Innovation Index". Bloomberg. Bloomberg News. Retrieved 1 March 2024. - Dynamism: "Singapore jumps to top of Global Dynamism Index". The Straits Times. Singapore. 29 October 2015.
- Economic freedom: "Singapore". heritage.org. The Heritage Foundation. Retrieved 1 March 2024.
- ^ "Corruption Perceptions Index 2020". Transparency International. 28 January 2021.
- ^ Baten, Jörg (2016). A History of the Global Economy. From 1500 to the Present. Cambridge University Press. p. 292. ISBN 9781107507180.
- ^ Harold Siow Song Teng (22 September 2011). Government Policy and Critical Success Factors of Small Businesses in Singapore. Cambridge Scholars Publishing. p. 52. ISBN 978-1-4438-3394-3.
- ^ "The Global 2000 2022". Forbes. 12 May 2022. Retrieved 19 March 2023.
- ^ "Global 500 | Fortune". Fortune. 19 March 2023. Retrieved 19 March 2023.
- ^ "Welcome to Thakral Corporation". Archived from the original on 28 November 2016. Retrieved 28 November 2016.
- ^ Khan, Taslima. "What Narendra Modi can do for start-ups". businesstoday.intoday.in/. Retrieved 12 June 2014.