Submitted by srajan on Tue, 01/17/2023 - 05:00

Singapore’s fastest-growing companies in 2023

A variety of businesses – from a workforce management platform to a video technology provider and metal recycling company – have made it onto a list of 100 companies compiled by The Straits Times and Germany-based global research firm Statista. The ranking, now in its fifth year, is based on the companies’ revenue growth from 2018 to 2021.

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Singapore's Fastest Growing Companies is a list of 100 local businesses that achieved markedly high revenue growth between 2018 and 2021.

Companies keen to get on the league table had to register via websites created by Statista and The Straits Times from May to September 2021.

In addition, through research in company databases and other public sources, Statista has identified more than 2,000 companies in Singapore as potential candidates for the ranking. These companies were invited by post, e-mail and telephone to participate in the competition.

There were strict criteria – they had to be independent companies headquartered in Singapore with at least $150,000 of revenue generated in 2018, and $1.5 million in 2021.

Statista examined the officially stated revenue data of more than 600 public companies in Singapore. In the next step, certain high-profile companies that met the aforementioned criteria were added to the list.

The calculation of growth rates was based on the revenue figures submitted by the companies in their respective national currencies. These figures were then converted into Singapore dollars for comparison.

The result is a list of companies ranked by compound annual growth rate, which is calculated by taking into account revenue growth over the three-year period.

Source: Statista

Produced by: Bhavya Rawat, Lee Pei Jie, Satoko Nishimura and Tin May Linn