Singapore is the so-called "alpha city", i.e. one of the primary nodes in the world's economic network and one of the 4 Asian tigers, side by side with Hong Kong, Taiwan and South Korea. However, it has overcome all of them long ago by GDP per capita, which was $64,567 in 2018.
According to the authoritative world sources, such as World Economic Forum and France Press Agency, the highly developed market economy of this country is one of the freest, most dynamic, business-friendly and innovative in the world.
Read more about the local economy leaders and their financial insights in the top below, created by Global Database and designed to provide a complete picture of the Singaporean market and to help you choose your best investment targets.
1. Wilmar International - $44.7B
2. Flex - $26.5B
3. Olam International - $22.6B
4. China Aviation Oil - $20.6B
5. DBS - $13.6B
6. SingTel - $12.9B
7. Singapore Airlines - $12.1B
8. Oversea-Chinese Banking Corporation - $11B
9. United Overseas Bank - $10.7B
10. Sembcorp Industries - $8.7B
11. Keppel - $4.4B
12. CapitaLand - $4.4B
13. Frasers Property Limited - $3.5B
14. City Developments - $3.1B
15. Venture Corporation Group - 2.6B
*All figures are in USD. M: Millions of USD, B: Billions of USD
*SGD was converted to USD using an average exchange rate of 1.36 SGD to 1 USD
Wilmar International Limited (further Wilmar) is the biggest agribusiness group in Asia, focused on such products as Palm oil, consumer pack edible oils, protein meal, specialty fats and others. It is listed on the Singapore Exchange recording a market value of $17B as of 2018. The company employs over 90,000 professionals that in 2018 have contributed to an impressive annual sales of $44.7B.
Flex Ltd. (further Flex) is an international manufacturer of technologies from Singapore, with administrative headquarters in California, USA. Flex takes the 3rd place by revenue among electronics manufacturing services enterprises of the global scale in 2018, which then amounted to $26.5B. The company employs over 200,000 people working across 40 countries.
Olam International (further Olam) is one of the world's biggest agribusiness and food enterprises. It serves over 23,000 customers across the globe and operating in around 70 countries, with annual sales of $22.6B as of 2018. The key products Olam specialises in are cotton, rice, coffee, cocoa beans and others, and the company is one of the world biggest suppliers thereof.
China Aviation Oil (Singapore) Corporation Ltd (further CAO) is the Asia Pacific's biggest buyer of aviation turbine fuel for the Chinese civil aviation industry. The company works as an oil supplier for the biggest airports of the region in Beijing, Shanghai and Guangzhou. CAO also was the 4th biggest company from Singapore by sales ($20.6B) in 2018.
DBS Bank (further DBS) was the most prominent financial and banking services organisation from Singapore by sales in 2018. Its sales by the end of that year amounted to $13.6B. DBS is an international company, operating over 250 branches and 1,100+ ATMs across 17 markets. The company is serving customers mainly in China, Hong Kong, India, Singapore, Taiwan, Japan, the UK and other countries.
Singapore Telecommunications Limited (further Singtel) is a member of the Singaporean "Big Four" telecom providers with over 640M customers, 4.1M of which are mobile network subscribers. 82% of the local landline phone services market, as well as 47% of the mobile services market, are controlled by Singtel. In 2018 these generated $12.9B in sales.
Singapore Airlines is the national airline, based in Changi airport in Singapore, and one of the best airlines in the world, according to Skytrax. This sizeable public company registered $12.1B in sales in 2018. Singapore Airlines has around 15,000 employees and is serving 62 destinations across 32 countries, covering 5 continents. It operates a fleet of 137 aircrafts.
Oversea-Chinese Banking Corporation Limited (further OCBC Bank) is an international financial and banking services corporation with over 570 branches and presence in 18 countries. Besides the multiple local offices, the OCBC Bank's vast network includes 320+ offices in Indonesia and over 100 departments in China, Hong Kong and Macao. Their activity resulted in $11B in sales in 2018.
United Overseas Bank Limited (further UOB) is one of the largest banking enterprises, located in Singapore, that operates internationally. It is present in most countries of South-East Asia. UOB network counts 68 local branches and over 500 offices across the Asia Pacific, North America and Western Europe. The Bank registered sales of $10.7B in 2018.
Sembcorp Industries Limited (further Sembcorp) is the most significant utilities and marine holding in Singapore with sales of $8.7B as of 2018. The company supplies Singapore, Asia, Middle East and the UK with centralised energy, utilities and water services, as well as covers wastewater treatment, offshore engineering and environmental services in Singapore and neighbouring countries.
Keppel Corporation (further Keppel) is a conglomerate, operating in infrastructure, property, asset, offshore and marine management, serving customers in 30 countries. These activities resulted in sales of $4.4B and profits of $699M in 2018. The Keppel Group includes 6 key subsidiaries, covering multiple directions and operating in Singapore, China and Qatar.
CapitaLand Limited (further CapitaLand) is one of the biggest real estate enterprises in Asia with annual sales that reached an amount of $4.4B in 2018. While Singapore and China are its main markets, CapitaLand operates in 30+ other countries and is present in over 160 cities. The group consists of 4 real estate investment units, 3 global operating platforms and an investment management company.
Frasers Property Limited (further Frasers) is yet another real estate and property management giant from Singapore, operating 5 subsidiaries across Asia, Australia and Europe. Real estate investment trust sponsoring is another type of Frasers' activity. The company is traded on the Singapore Exchange and has a market value of $4B and annual sales of $3.5B as of 2018.
City Developments Limited (CDL) is a major property developer and owner from Singapore. It operates an extensive network of 103 branches across 29 countries and has developed more than 43,000 homes in 55 years of activity. 2018 was the year when the company reported $3.1B in annual sales. CDL's hotel subsidiary operates 145 hotels worldwide, most of them in key gateway cities.
Venture Corporation Limited (further Venture) is an international electronics service provider, operating in Asia, Europe and America. The company employs more than 12,000 professionals across the world, providing technology products, services and solutions year after year, managing to earn 2.6B in sales in 2018.