SINGAPORE - The search is on again for Singapore's fastest growing companies.

The annual rankings compiled by The Straits Times and German-based global research company Statista highlight firms that have achieved exceptional annual revenue increases. The report will be published in January 2022.

Last year's study, published in January this year, found that companies that adopt technology to provide an innovative twist to their businesses were thriving.

The 10 fastest growing firms included ones in car sales and precious metal recycling, both traditional service sectors, but these companies set themselves apart by using technology to elevate their offerings.

Firms have to meet certain criteria to be considered for the list, which is now in its fourth year.

The benchmark is annual revenue of at least $150,000 in 2017 and at least $1.5 million in 2020.

Firms hoping to be in the running this year must register online by Aug 31. Submitted data must be checked and confirmed by the chief financial officer or chief executive.

Dr Thomas Clark, senior associate partner and responsible for corporate development and international affairs at Statista, said: "This is already the fourth time we are conducting this survey in Singapore and it will probably be the most challenging one, with the pandemic still looming over the global economy.

"But looking at what we have seen from Singaporean companies in the past we are confident that this will be rather a minor hick-up than a reversal of a trend."

ST deputy editor Helen Chia said: "We hope that this year's search will uncover inspiring stories of companies who have managed to thrive despite the pandemic."

Statista, which has offices around the world, including in New York, London and Singapore, has undertaken research projects with media companies such as Forbes and the Financial Times.

Companies can register at the website.

The 2021 list of companies can be found here.