List ranks top 200 with under US$1b turnover, showing consistent growth

By LYNETTE KHOO

	Email this article
	Print article
	Feedback

These 20 entries landed Singapore in the sixth spot among 14 economies in Asia. The diverse sectors that these 20 companies are engaged in, ranging from technology, offshore and marine, to lifestyle and logistics, reflects the diversification that the Singapore economy has undertaken in its shift from the electronics-driven days.

These companies have achieved earnings per share growth of 16 per cent to 140 per cent over the past three years. Offshore marine companies in the list include ASL Marine, Ezra Holdings and Labroy Marine. The list also included Singapore-listed Chinese companies China Sun Bio-Chem Tech, Hongguo International, Midas and Midsouth Holdings.

The only education company in the Singapore list is Raffles Education. Its foray into the fast-growing Chinese market has resulted in consistently strong earnings.

In an interview with Forbes Asia, Raffles Education chairman Chew Hua Seng said he is confident that the group's revenue will continue to grow at around 40 per cent annually, while the number of students grows at 20 per cent a year. Much of its plans are focused on China, where it derives about half of its group revenue.

Its robust fiscal year ended June 30, where net profit rose 53 per cent year-on-year to $49.33 million as revenue grew 38 per cent to $124.05 million, kept the group on the list for the second consecutive year.

Mr Chew was also ranked Singapore's 10th-richest person this year, after Forbes Asia valued his wealth at US$595 million as of Aug 10.

In all, the annual Forbes Asia's 'Best Under A Billion' list drew over 22,500 listed companies in the Asia Pacific region, which were vetted for consistent growth over three years. Eight out of 10 companies on the list are making their debut ranking this year.

Taiwan has the highest number of companies making the list, with nearly all of the 41 firms being parts makers from the IT sector, given its tech-laden economy. China comes second, with 23 companies, followed by 22 companies from Hong Kong.