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10 leading companies from Singapore
Singapore is a small nation with a population of barely 5.6 million but many of its companies have a global footprint and are dominant in their respective fields.
The Lion City’s success is built upon the bedrock of supportive government policies, a highly educated and skilled workforce, as well as world-class infrastructure.
This has enabled Singapore to become home to firms that are world leaders in sectors as diverse as banking, telecommunications, and even food processing.
Here, then, is a brief description of the country’s 10 leading companies based on total revenue, net profit, total assets and market capitalization.
1. Singtel
Source: Bloomberg
SingTel is an international telecommunications company with over 600 million mobile customers around the world. The SingTel Group has offices spread across Asia Pacific, Europe, and the US and employs 23,000 staff.
To fuel its expansion, SingTel has invested in several telecom companies including Bharti Airtel, which has operations in India, South Asia, and Africa. Investments have also been made in Telkomsel in Indonesia, Globe Telecom in the Philippines, and in Advanced Info Service in Thailand.
Not content with its existing service offerings, the company has even delved into the video streaming service industry in the form of Hooq, which is a joint venture with media heavyweights Sony Pictures Television and Warner Bros.
Market Capitalization: S$62 billion
Total Revenue: S$17 billion
Net Profit: S$3.8 billion
Total Assets: S$43.6 billion
2. DBS Group Holdings
Source: DBS
DBS Bank, the largest in Singapore, is a subsidiary of DBS Group Holdings. With 280 branches across 18 markets, DBS has operations in Singapore, the Greater China region, Southeast Asia, and South Asia.
Recently, financial services magazine, Euromoney, announced that DBS was the world’s ‘best digital bank’, claiming the award ahead of other financial heavyweights such as Citi, BBVA and ING.
DBS has already invested nearly S$5 billion in digital strategies to back up its newfound approach to innovation. It even recently launched an entirely mobile-centric banking service in India called ‘Digibank’, which has no brick-and-mortar branches whatsoever.
Market Capitalization: S$46.2 billion
Total Revenue: S$10.2 billion
Net Profit: S$4.5 billion
Total Assets: S$457.8 billion
3. OCBC Bank
Source: Shutterstock
One of Singapore’s top three banks, OCBC has a pedigree that stretches back to 1912. Global Finance magazine has ranked OCBC among the world’s 50 safest banks. Its area of operations includes Singapore, Malaysia, Indonesia, and Greater China.
The bank over 610 branches and is active in commercial banking, wealth management, and corporate banking. Its insurance subsidiary, Great Eastern Holdings, is a leader in the life insurance business in Singapore and Malaysia.
OCBC is also no slouch when it comes to technological innovation. It recently became the first bank in South-east Asia to use blockchain technology in pilot projects for payments transactions.
Aside from adopting cutting-edge technologies, it has also made strides in digital innovation by again being one of the first movers in the Southeast Asian banking industry to release its Application Programming Interface (API) platform – that opens data to third-party software developers – in May this year.
Market Capitalization: S$39 billion
Total Revenue: S$8.2 billion
Net Profit: S$3.9 billion
Total Assets: S$390.2 billion
4. United Overseas Bank
Source: Shutterstock
Commonly referred to as UOB, the bank is a market leader in the credit card and private residential home loan business in Singapore. It has a special focus on SME banking and has operations in Singapore, Malaysia, Indonesia, Thailand, and China.
The bank’s asset management arm, UOB Asset Management, is one of Singapore’s top fund managers and it has built up an enviable track record over the years.
As one of the top 3 banks in Singapore, UOB is also stretching its legs in terms of innovative applications of technology by being the first bank in Singapore to enable customers to use their mobile phone as their security token.
Recognising that consumers are increasingly using their smartphones in all aspects of life, including banking transactions, this digital security feature is aimed at enhancing value-added service to its pool of customers.
Market Capitalization: S$34.3 billion
Total Revenue: S$7.4 billion
Net Profit: S$3.2 billion
Total Assets: S$316 billion
5. Wilmar International
Source: Wilmar International
The company is a leader in the agribusiness field and its activities include oil palm cultivation, oilseed crushing, edible oil refining, and sugar milling and crushing.
Wilmar International, which was established in 1991, has more than 500 manufacturing plants and a distribution network that extends to China, India, and about 50 other countries.
It is one of the largest palm oil plantation owners and the world’s largest processor of palm oil. The total size of the planted area in its palm oil plantations is a massive 240,956 hectares. The bulk of this is located in Indonesia, with about a quarter in Malaysia while the remainder is in Africa.
Aside from palm oil, Wilmar is also a titan in the sugar industry. It is the largest sugar producer in Africa and recently formed a joint venture with Brazil's Raizen Energia to form one of the world's largest exporters of Brazilian sugar.
Market Capitalization: S$23.5 billion
Total Revenue: S$38.8 billion
Net Profit: S$1.1 billion
Total Assets: S$37.9 billion
6. CapitaLand
Source: Shutterstock
CapitaLand is a leading real estate company with extensive holdings in China and Singapore. It is now making inroads into the property markets of Indonesia, Malaysia, and Vietnam.
Setting up integrated development projects is the company’s forte. Its maiden project, Raffles City Singapore, was established in 1986. Some of its more recent projects are Westgate, Bedok Mall, ION Orchard, and the Orchard Residences.
It also recently launched its new corporate venture arm, C31 Ventures, which can tap into a fund size of S$100 million to invest in startups.
This new investment vehicle will find startups that are addressing the following areas which are synergistic to its core businesses: design & construction, operations & maintenance, sales & leasing, customer engagement, workplace productivity and smart-living solutions.
Market Capitalization: S$13.4 billion
Total Revenue: S$4.6 billion
Net Profit: S$1 billion
Total Assets: S$47 billion
7. Singapore Airlines
Source: Shutterstock
Acknowledged by travellers and industry professionals as among the world’s most efficiently run airlines, Singapore Airlines (SIA) has a network that covers 60 destinations throughout six continents. The company’s Singapore Girl campaign has made the airline a household name across the world.
SIA is widely recognised as one of the best airlines in the world and is also regularly ranked as one of the safest for air travel.
Last year, Singapore Airlines flew more than 18 million passengers. It has extensive expansion plans and has ordered 110 wide-body aircraft to augment its existing fleet of 105.
Market Capitalization: S$11.6 billion
Total Revenue: S$15.2 billion
Net Profit: S$0.8 billion
Total Assets: S$23.8 billion
8. Global Logistic Properties
Source: GLP Japan
A warehousing giant, Global Logistic Properties has built its business on the back of the expansion in e-commerce. The firm is the second largest warehouse operator in the US. It also has extensive operations in China, Japan, and Brazil.
The company has a 562 million sq. ft. property portfolio valued at US$39 billion. It is currently working on its largest job to-date, the GLP Nagareyama project in Greater Tokyo. When complete, this project will provide 3.4 million sq. ft. of total gross floor area.
It also recently announced the establishment of a fund that is expected to invest US$1.5 billion over the next three years in US properties.
Market Capitalization: S$12.4 billion
Total Revenue: S$0.8 billion
Net Profit: S$0.7 billion
Total Assets: S$23.1 billion
9. Keppel Corp
Source: Keppel China
A leader in offshore rig design, construction and repair, ship repair, and shipbuilding, Keppel Corp’s global network spans the Asia Pacific, the Gulf of Mexico, Brazil, the Caspian Sea, the Middle East, and the North Sea region.
Keppel Corp is also active in land development, residential projects, and integrated townships. It has an asset management arm with an asset size of S$26 billion.
It also recently won the bid to build Singapore’s fourth desalination plant, beating out several other contenders for the project.
Market Capitalization: S$11.2 billion
Total Revenue: S$10.3 billion
Net Profit: S$1.5 billion
Total Assets: S$28.9 billion
10. Singapore Technologies Engineering
Source: STE
Singapore Technologies Engineering specialises in the aerospace, electronics, land systems and marine sectors.
It has approximately 23,000 employees and a network of over 100 subsidiaries and associated companies in 46 cities and 24 countries around the world.
Just this past year, its electronics arm, ST Electronics, has secured contracts for projects totaling S$2.33 billion, while its aerospace subsidiary, ST Aerospace, has also done well with S$840 million in contracts being clinched during Q4 alone.
Market Capitalization: S$10.4 billion
Total Revenue: S$6.3 billion
Net Profit: S$0.5 billion
Total Assets: S$8.2 billion
(By Ravinder Kapur)
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