3 local tech firms among 'fastest growing in Asia-Pacific'

Three local firms are on an annual ranking of the fastest-growing Asia-Pacific tech companies.

Accounting giant Deloitte bases its rankings on revenue growth over a three-year period.

Software firm vKirirom came in 28th, with turnover growth of 1,421 per cent over the past three years, while Sense Infosys was 151st, thanks to a 362 per cent increase in revenue. Wireless communications outfit Yourwifi rounded out the local trio, ranking 292nd on the Technology Fast 500 Asia Pacific index with 174 per cent sales growth.

The table-topper was Tencent-backed Wuhan Douyu Network Technology, which has grown at a rate of 70,776 per cent over three years - the second-highest growth since the rankings began 16 years ago. The firm operates a live game-streaming video platform.

Chinese firms have tapped the growing digital penetration in their country, with five in the top 10 on the index and 119 in the top 500 positions. Mr William Chou of Deloitte China said: "The generations born in China after 1990 show a much higher propensity to consume, rather than save.

"Companies focused on providing (them) with inexpensive entertainment options, or those focused on e-commerce and fintech, are continuing to succeed."

Revenue growth was not restricted to Chinese firms: The top 500 averaged turnover increases of 600 per cent this year, beating last year's average of 573 per cent.

A version of this article appeared in the print edition of The Straits Times on December 12, 2017, with the headline '3 local tech firms among 'fastest growing in Asia-Pacific''. Print Edition | Subscribe