ASEAN KEY DESTINATIONS
SINGAPORE: Corporate giants dominate the list of Singapore's 50 fastest growing companies in 2013.
They include AAC Technologies and Unilever Asia.
Meanwhile, the number of small and medium enterprises (SMEs) making it to the list has been dwindling and hit its lowest level since the award began in 2002.
A record 20 companies with revenues in excess of S$1 billion each made the list this year. This was up from 13 in 2012 and nine companies in 2011.
While the number of billion-dollar enterprises has risen the last three years, the reverse is happening with SMEs in Singapore.
Only four SMEs made the 2013 winners' list, down from 11 in 2012 and 17 in 2011.
SMEs appear to struggle to stay competitive amid rising costs and greater market uncertainties.
The Fastest Growing 50 (FG50) identifies companies with a minimum of 10 per cent turnover growth every year for the last three years.
Staying profitable each year is a key criteria to qualify as well.
The qualifying companies are then ranked by their three-year Compounded Annual Growth Rate (CARG), with the top 50 receiving the award.
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