Friday, May 29, 2015Friday, May 29, 2015

Construction and services top Singapore growth list

Manufacturing, finance, wholesale still growing but at slower rates

Published on Sep 20, 2012 11:44 AM
Public and private housing projects as well as the rise in civil and infrastructure works like new MRT lines have contributed to the growth of the construction industry in recent years. This growth is expected to be sustained next year as many of the projects are ongoing with new ones in the pipeline. -- ST PHOTO: ALPHONSUS CHERN

Companies in the construction and service sectors dominate the list of Singapore's 50 fastest growing firms, displacing the traditional leaders in manufacturing, finance and wholesale.

This big change in the league table of the best-performing companies marks the rise of two new pillars of the economy, said DP Information Group, a provider of business and credit information which compiles the rankings.

In just five years, the number of service industry firms listed has surged from one to 10 while there are now five construction companies, up from two. It is a different picture for wholesale, finance and manufacturing, which saw their representation in the top 50 fall.

There are now only five manufacturing firms on the list, down from 12 five years ago, while the number of wholesale firms dipped from 19 to 15.

Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!

Background story

TOP 10

The 2012 Fastest Growing 50 award winners

1. Realty Property Investment (Property)

2. Unilever Asia (Services)

3. Huawei International (Information and communications)

4. Hong Lee Holdings (Investment/holding activities)

5. UE One-North Developments (Property)

6. Lobb Heng (Wholesale)

7. Lacto Asia (Wholesale)

8. AAA Oils & Fats (Wholesale)

9. JT International Tobacco Services (Singapore) (Services)

10. Training Vision Institute (Services)