Singapore is home to a dynamic mix of global giants, innovative tech firms, and public institutions that shape both the local and international economy. From energy and finance to real estate and aviation, these top 25 companies by revenue in 2024 highlight the strength and diversity of Singapore’s corporate landscape. Despite global headwinds, many continued to grow, innovate, and adapt—proving why Singapore remains a major business hub in Asia.
1.Trafigura
Trafigura is one of the world’s largest commodity trading firms, orchestrating the global flow of oil, metals, and minerals from its headquarters in Singapore. With operations handling 6.8 million barrels of oil and fuels per day and millions of tonnes of metals and bulk minerals annually, the company benefits from scale, in-house shipping, and strong financial backing from over 140 banks. In FY 2024, despite uncovering a $1 billion fraud in its Mongolian oil unit—which cut net profit by 60%—Trafigura maintained high trading volumes across its core divisions, showing the strength of its diversified portfolio. The company is now investing in energy transition areas such as biodiesel, hydrogen, and battery metals, and is preparing for tighter regulations under new leadership. Trafigura reported revenue of US$243.2 billion in FY 2024, securing its position as one of the top global commodity merchants.
Revenue (2024): US$243.2 billion
2. Wilmar International
Wilmar International is a leading agribusiness group in Asia, managing operations across the entire agricultural value chain—from plantations and processing to food manufacturing and international trade. The company operates globally with a strong presence in Asia, Africa, and Europe, controlling major segments such as tropical oils, oilseeds, sugar, and packaged food products. In 2024, it generated US$67.16 billion in revenue, supported by solid demand in markets like China, India, and Indonesia. Wilmar is also a key supplier to major global brands and is actively involved in sustainability initiatives like the RSPO. With over 100,000 employees and its subsidiary Yihai Kerry Arawana driving growth in China, the company continues to expand in areas such as plant-based foods and biofuels.
Revenue (2024): US$67.16 billion
3. Olam Group
Olam Group is a major Singapore-based agri-business that operates across more than 60 countries, supplying food, ingredients, feed, and fibre to over 22,000 customers globally. With a workforce of more than 82,000 employees, the company is structured around two primary divisions: Olam Food Ingredients (ofi), which focuses on products like cocoa, coffee, nuts, and spices, and Olam Agri, which handles grains, rice, and edible oils. In 2024, Olam reported revenue of US$35.9 billion, a 16.3% increase from the previous year, driven by strong performance in both core segments. Despite this growth, the group faced financial pressure, with net profit falling 69% due to rising interest expenses and high working capital needs. Strategically, Olam is narrowing its focus on the food ingredients sector, planning to divest other assets and businesses, including a $1.78 billion stake sale in Olam Agri to Saudi Arabia’s SALIC, while continuing to invest in sustainability and supply chain transparency.
Revenue (2024): US$$35.9 billion
4. Flex Ltd.
Flex Ltd., formerly known as Flextronics, is a leading global electronics manufacturing services (EMS) company headquartered in Singapore. With a presence in over 30 countries, Flex provides design, engineering, manufacturing, and supply chain services to a diverse range of industries, including automotive, healthcare, industrial, and consumer electronics.
In the 2024, Flex reported a revenue of US$26.42 billion, positioning it among Singapore's top companies by revenue. The company employs approximately 148,115 people worldwide, reflecting its extensive global operations. Flex's business model emphasizes flexibility and innovation, enabling it to adapt to rapidly changing market demands and technological advancements.
Flex's commitment to sustainability and corporate responsibility is evident through its initiatives aimed at reducing environmental impact and promoting ethical business practices. The company's strategic focus on emerging technologies and markets continues to drive its growth and maintain its competitive edge in the global EMS industry.
Revenue (2024): US$26.42 billion
5. DBS Bank
DBS Bank Ltd is Singapore’s largest bank and a leading financial services group in Asia, with a presence in 18 markets. Headquartered in Singapore, DBS offers a comprehensive range of services, including consumer banking, corporate banking, wealth management, and treasury services. The bank has been recognized for its digital innovation and commitment to sustainable finance.
In the fiscal year 2024, DBS reported a revenue of US$25.6 billion, making it the top bank in Singapore by revenue. The bank achieved a net profit of US$7.5 billion, reflecting strong performance across its core businesses. DBS employs approximately 40,770 people worldwide, serving a diverse customer base across Asia. DBS has been at the forefront of digital transformation in banking, launching innovative platforms and services to enhance customer experience. The bank's commitment to sustainability is evident through its financing of green projects and integration of environmental, social, and governance (ESG) considerations into its operations.
Revenue (2024): US$25.6 billion
6. United Overseas Bank (UOB)
United Overseas Bank Limited (UOB) is one of Singapore's leading banks, providing a comprehensive range of financial services, including personal and corporate banking, investment banking, and asset management. With a strong presence in Asia, UOB operates in 19 countries and territories, serving millions of customers.
In the fiscal year 2024, UOB reported a revenue of US$19.73 billion, reflecting its robust performance in the banking sector. The bank achieved a net profit of US$4.25 billion, demonstrating its financial strength and stability. UOB employs approximately 32,340 people worldwide, supporting its extensive operations across the region.
UOB is committed to digital transformation, investing in technology to enhance customer experience and operational efficiency. The bank's strategic initiatives focus on sustainable finance, aiming to support environmentally responsible projects and businesses.
Revenue (2024): US$19.73 billion
7. Oversea-Chinese Banking Corporation (OCBC Bank)
OCBC Bank is the second-largest bank in Southeast Asia by assets and one of the most prominent financial institutions in Singapore. It provides a broad spectrum of services including retail and corporate banking, investment banking, asset management, insurance, and wealth management. Headquartered in Singapore, OCBC operates across 19 countries and territories, with strong market positions in Malaysia, Indonesia, and Greater China.
In fiscal year 2024, OCBC recorded revenue of US$19.02 billion and posted a net profit of approximately US$4.5 billion, boosted by higher interest income and strong performance in wealth management. The bank employs around 32,000 staff globally.
OCBC is known for its digital innovation, especially in its mobile banking and AI-driven solutions. It also owns subsidiaries such as Bank of Singapore (private banking) and Great Eastern Holdings (insurance), which add to its diversified income base. The bank has committed to green financing and sustainable investments, setting clear environmental targets as part of its long-term strategy.
Revenue (2024): US$19.02 billion
8. Jardine Cycle & Carriage
Jardine Cycle & Carriage, a leading Singaporean conglomerate, achieved a revenue of US$18.59 billion in 2024, continuing its strong presence in the Southeast Asian market. The company operates across a variety of sectors, with a dominant focus on the automotive industry. Its most significant subsidiary, Astra International, is a prominent Indonesian conglomerate that spans multiple sectors, including automotive, heavy equipment, and mining. The company's operations also include Singapore Motors, a key player in the distribution and retail of motor vehicles in Singapore.
Despite the revenue growth, Jardine Cycle & Carriage experienced a 22% decline in profit, which dropped to US$946 million in 2024. This decline was attributed to foreign exchange fluctuations, though if the currency translation impacts were removed, underlying profits would have increased by 3%.
The company has continued to make strategic moves to diversify and expand. In June 2023, Jardine Cycle & Carriage entered into a partnership with Carro, a used car marketplace, in a deal valued at US$60 million. This collaboration aims to explore opportunities in the used car and after-sales sectors, with plans for a joint venture to establish a multi-brand aftermarket workshop business, initially focusing on Singapore and Malaysia.
Looking forward, Jardine Cycle & Carriage is committed to continuing its growth trajectory in the automotive sector and beyond. The company is exploring new avenues for expanding its market share and driving profitability, despite the challenges posed by global economic factors. With its broad portfolio and strategic partnerships, Jardine Cycle & Carriage remains a key player in Southeast Asia's business landscape.
Revenue (2024): US$18.59 billion
9. Singapore Airlines (SIA)
Singapore Airlines (SIA) is the national carrier of Singapore and one of the world's most respected airlines, renowned for its exceptional service quality and operational excellence. Headquartered at Changi Airport, SIA operates a modern fleet serving a global network across six continents.
In the fiscal year 2024, SIA reported revenue of US$14.14 billion and a net profit of US$1.99 billion, reflecting a strong recovery in air travel demand post-pandemic. The airline employs approximately 16,643 staff worldwide. Wikipedia
SIA's commitment to innovation is evident in its continuous investment in new aircraft and in-flight services. The airline has consistently been recognized for its customer service, winning numerous awards globally. Additionally, SIA is actively pursuing sustainability initiatives, including the adoption of sustainable aviation fuels and efforts to reduce carbon emissions.
Revenue (2024): US$14.14 billion
10. Sea Ltd
Sea Ltd is a prominent Singapore-based digital technology conglomerate, recognized as one of Southeast Asia’s most influential internet companies. With a diversified portfolio of businesses, Sea operates through three primary platforms: Shopee, Garena, and SeaMoney, each serving distinct but synergistic roles in the regional digital economy.
Despite facing challenges such as rising competition from regional players like Lazada (Alibaba) and TikTok Shop, along with global economic headwinds, Sea Ltd reported revenue of US$13.06 billion in FY 2024, showing steady growth across its segments. The company achieved a net profit of US$163 million, marking a notable turnaround from earlier losses, largely due to operational streamlining and disciplined cost management.
Sea employs approximately 6,270 people and is led by Chairman and CEO Forrest Li, who remains a central figure in steering the company’s long-term strategy. In recent years, Sea has scaled back on aggressive global expansion to refocus on profitability and sustainable growth in its core Southeast Asian markets.
Looking ahead, Sea Ltd is doubling down on improving e-commerce margins, expanding digital payments infrastructure, and exploring opportunities in artificial intelligence and digital banking—particularly in light of its digital banking license granted in Singapore.
Revenue (2024): US$13.06 billion
11. Singtel (Singapore Telecommunications Limited)
Singtel (Singapore Telecommunications Limited) is one of Asia’s leading telecommunications companies, headquartered in Singapore and employing approximately 22,700 people as of 2024. The company delivers a broad range of services, including mobile and fixed-line telephony, broadband and fixed internet, digital television, and IT and cybersecurity services. With a significant presence across Asia, Australia, and parts of Africa, Singtel serves millions of customers and operates through several major subsidiaries and business units.
In the financial year 2024, Singtel generated revenue of S$14.13 billion. However, its net profit fell sharply to S$795 million—a 64% year-on-year decline—largely due to a massive S$3.1 billion impairment charge associated with its Australian subsidiary, Optus. This write-down was tied to challenges including a significant cybersecurity breach and a nationwide network outage, both of which undermined customer trust and raised regulatory scrutiny.
Revenue (2024): US$14.13 billion
12. Golden Agri-Resources
Golden Agri-Resources is one of the leading agribusiness companies in Asia, specializing in palm oil cultivation and production. Headquartered in Singapore, the company operates vast plantations and production facilities across Indonesia, with a focus on producing and processing palm oil for the global market.
In 2024, Golden Agri-Resources reported a revenue of USD 9.76 billion. The company is a key player in the agricultural sector, employing approximately 100,800 people globally. Despite fluctuating commodity prices, Golden Agri-Resources has maintained a strong position in the palm oil industry, supported by its extensive plantation holdings and vertically integrated business model.
The company is also actively involved in sustainability initiatives, including working on improving traceability in its supply chain and reducing the environmental impact of its operations.
Revenue (2024): US$ 9.76 billion
13. ST Engineering
ST Engineering is a global technology, defense, and engineering company based in Singapore. In 2024, the company reported a revenue of USD 7.52 billion. It employs approximately 26,779 people worldwide. Known for its diversified portfolio, ST Engineering operates across several sectors, including aerospace, defense, and urban solutions, providing innovative technology solutions across industries. Despite global challenges, ST Engineering has continued to expand its business and focus on sustainability and digital transformation..
Revenue (2024): US$ 7.52 billion
14. Yanlord Land Group
Yanlord Land Group is a leading real estate development company based in Singapore, focusing on high-end residential and commercial properties in China. In 2024, the company reported a revenue of USD 6.13 billion and employed approximately 11,530 people.
Yanlord is renowned for its luxurious residential developments and integrated commercial properties, particularly in major Chinese cities such as Shanghai, Beijing, and Shenzhen. The company also focuses on mixed-use developments, which combine retail, office, and residential spaces. With its strong foothold in the premium property market, Yanlord continues to attract affluent buyers and investors.
The company remains committed to expanding its property portfolio and is focused on sustainable growth, capitalizing on its established presence in China’s real estate sector.
Revenue (2024): US$ 6.13 billion
15. Singapore Power Group
Being a prominent utility company in Singapore, Singapore Power Group (SP Group) focuses on providing electricity and gas transmission and distribution services across the country. With a revenue of $5.4 billion in 2024 and a workforce of 3,584 employees, SP Group plays a crucial role in maintaining and enhancing the reliability of Singapore's energy infrastructure.
SP Group's operations span multiple sectors within utilities, from providing electricity and gas distribution to retail energy services, all of which cater to both residential and commercial customers. The company stands as an essential component of Singapore’s energy landscape, with its services touching nearly every sector of the economy.
Despite being a relatively established player, SP Group’s commitment to innovation and sustainability continues to shape its growth. By investing in smart grid technologies, renewable energy projects, and initiatives to enhance energy efficiency, it remains a frontrunner in the region's energy transformation. This focus on forward-thinking strategies helps ensure the company can adapt to future energy needs while maintaining stability and resilience.
SP Group's presence is integral to the daily operations of millions, making it a vital entity in Singapore's economy. Through its strategic investments, the company continues to strengthen its infrastructure, positioning itself as a reliable and innovative leader in the utilities industry.
Revenue (2024): US$ 5.4 billion
16. Keppel Corporation
Being a diversified global leader, Keppel Corporation focuses on offshore and marine, property, infrastructure, and investments. With a revenue of $5.3 billion in 2024 and employing approximately 34,000 people worldwide, Keppel Corporation has cemented its position as one of Singapore's most influential conglomerates.
The company is heavily involved in the offshore and marine industry through its division, Keppel Offshore & Marine, which specializes in building offshore rigs and vessels. Keppel is recognized globally for its expertise in constructing complex offshore platforms, making it a key partner for oil and gas companies around the world.
Alongside its maritime activities, Keppel Corporation also invests significantly in property and infrastructure development. With its real estate arm, Keppel Land, the company manages residential, commercial, and mixed-use projects in strategic international markets. This diversification ensures that Keppel remains resilient across fluctuating markets.
Keppel is also committed to sustainability and innovation, integrating green building solutions and renewable energy initiatives into its business models. By focusing on future technologies, it remains adaptive to changing global trends, positioning itself well for long-term growth.
Through its diversified portfolio and strategic investments, Keppel Corporation continues to play a crucial role in shaping the future of Singapore’s economy and expanding its global presence.
Revenue (2024): US$ 5.3 billion
17. Capitaland
CapitaLand, one of Asia's largest real estate companies, has a strong presence in Singapore and around the world, focusing on real estate development and investment. With a revenue of $5.2 billion in 2024 and employing approximately 11,500 people globally, CapitaLand continues to lead the industry in both residential and commercial properties.
As a part of its diversified portfolio, CapitaLand invests in residential, office, retail, and industrial properties, along with integrated developments. The company operates in several countries, with a major presence in China, Singapore, and other key Asian markets, enhancing its strategic position as a global real estate player.
CapitaLand is also a significant force in the investment management space. The company manages a broad range of funds and real estate investment trusts (REITs), such as CapitaLand Integrated Commercial Trust (CICT) and CapitaLand China Trust. These funds focus on high-quality assets and offer investors an opportunity to tap into the growing demand for real estate in Asia.
Sustainability is a core pillar of CapitaLand's strategy. The company has committed to green building initiatives, with many of its developments being certified as environmentally sustainable. Through innovation and sustainability, CapitaLand aims to lead the charge in creating smart, eco-friendly urban spaces.
Revenue (2024): US$ 5.2 billion
18. DBS Group
DBS Group, Singapore’s largest bank, continues to play a key role in shaping the region’s financial landscape. With a revenue of $5.1 billion in 2024 and a workforce of approximately 28,000 employees, DBS remains at the forefront of banking services in Asia. The bank offers a wide range of services, including retail, corporate, and investment banking, as well as wealth management and treasury solutions.
DBS has firmly established itself as a leader in digital banking, with significant investments in technology to enhance customer experience and improve operational efficiency. The bank has consistently been recognized for its innovation in banking, winning awards for its mobile banking services and its focus on financial inclusion.
The bank’s commitment to sustainability is also noteworthy. DBS has taken significant steps to integrate environmental, social, and governance (ESG) factors into its business model, aligning itself with global sustainability goals. The bank is increasingly focused on green finance, funding renewable energy projects and working with clients to promote sustainability within the financial sector.
DBS's strong market presence in Southeast Asia, combined with its digital transformation initiatives, positions it for long-term growth in the region. Its global expansion into markets such as China and India further solidifies its position as one of Asia's leading financial institutions.
Revenue (2024): US$5.1 billion
19. SIA Engineering Company
SIA Engineering Company (SIAEC) is a prominent player in the aircraft maintenance, repair, and overhaul (MRO) industry. With a revenue of $4.9 billion in 2024 and a workforce of over 6,800 employees, the company provides comprehensive MRO services to a wide range of aircraft operators globally. Headquartered in Singapore, SIAEC has built a strong reputation for its high-quality services, expertise, and innovation in the aviation sector.
The company offers a broad array of services, including aircraft maintenance, engineering, and component support, along with a specialized focus on line maintenance, airframe and engine services, and modifications for commercial and military aircraft. Its client base includes major airlines, aircraft operators, and original equipment manufacturers (OEMs), making it one of the most trusted names in the aviation industry.
SIAEC is also strategically involved in partnerships with international companies, establishing joint ventures and subsidiaries that enhance its service offerings. These collaborations allow SIAEC to expand its global reach, access new technologies, and ensure its services meet the highest standards of quality and safety.
A strong emphasis on innovation and sustainability is part of the company’s strategy to stay ahead of industry trends. SIAEC is continuously exploring new technologies and solutions, such as predictive maintenance and data-driven tools, to improve efficiency and reduce environmental impact in its operations.
Revenue (2024): US$4.9 billion
20. Housing & Development Board (HDB)
The Housing & Development Board (HDB) is a cornerstone of Singapore’s public sector housing, responsible for the planning, development, and management of public housing in the country. With a revenue of $4.5 billion in 2024 and a workforce of 5,516 employees, HDB continues to play a key role in providing affordable housing solutions to Singapore’s growing population. The organization’s efforts have made Singapore a model for urban planning and affordable housing worldwide.
HDB’s projects include the development of high-rise residential buildings, as well as integrated townships that incorporate essential amenities such as schools, healthcare facilities, and commercial spaces. Over the years, HDB has built over a million public housing units, and its flats are home to more than 80% of Singapore's resident population.
As Singapore's public housing authority, HDB’s role extends beyond construction and management. It is actively involved in social and community development, ensuring that its neighborhoods are not only livable but also conducive to fostering community engagement and social cohesion.
Revenue (2024): US$4.5 billion
21. Japfa Ltd
Japfa Ltd is a key player in the agribusiness and food processing industries in Asia, with a revenue of $4.4 billion in 2024 and a workforce of 37,668 employees. Headquartered in Singapore, Japfa operates across various segments, including animal protein, grains, and food products. Its business encompasses the entire value chain, from breeding and animal feed to meat processing and food distribution.
Japfa is well-known for its strong presence in Southeast Asia, where it operates vertically integrated farms and processing plants that produce poultry, dairy, and other protein-rich foods. The company has expanded its operations into key global markets, leveraging its strong expertise in food production to meet the growing demand for protein in developing countries.
A major focus for Japfa is its commitment to food safety, sustainability, and innovation. The company has implemented responsible sourcing practices and sustainable agricultural techniques to reduce its environmental footprint and improve the sustainability of its operations.
Revenue (2024): US$4.4 billion
22. Ascendas
Ascendas Real Estate Investment Trust (Ascendas REIT) is one of the largest and most prominent real estate investment trusts in Singapore, specializing in industrial properties across the Asia-Pacific region. It has established itself as a major player in the global REIT market, focusing primarily on business parks, logistics facilities, industrial warehouses, and data centers.
As of 2024, Ascendas REIT boasts a substantial portfolio, consisting of over 200 properties across various countries, including Singapore, Australia, China, and India. These properties are strategically located in key growth markets, allowing Ascendas REIT to capitalize on the demand for logistics space, technology infrastructure, and business parks.
A significant portion of the trust’s assets is in Singapore, which remains the core contributor to its revenue. The portfolio is well-diversified geographically, providing Ascendas REIT with a robust risk-adjusted return profile. The company's focus on industrial properties positions it well to benefit from the growing e-commerce sector, supply chain demand, and technological advancements that require data centers.
In 2024, Ascendas REIT reported an impressive revenue of $4.3 billion, reflecting its diversified and resilient asset base. The trust’s financial performance has been consistently strong, driven by solid demand for industrial spaces and a growing portfolio in key markets. Ascendas REIT's strategy of maintaining long-term leases and cultivating stable relationships with tenants has contributed to its steady cash flow and revenue growth.
The trust has also been recognized for its robust capital management strategies, including efficient debt financing, which helps optimize returns for its investors while managing risks associated with economic downturns or market volatility.
Revenue (2024): US$4.3 billion
23. Fraser and Neave
Fraser and Neave, Limited (F&N) is a leading consumer goods company based in Singapore, with a diversified portfolio that spans food and beverages, publishing, and property development. In 2024, F&N reported a revenue of US$3.9 billion. The company’s food and beverage division is its primary revenue driver, featuring iconic brands like Tiger Beer, F&N fruit juices, and Magnolia dairy products, which are widely popular across Southeast Asia.
F&N is committed to sustainability, focusing on eco-friendly packaging, energy efficiency, waste reduction, and water conservation across its production processes. The company has also expanded its reach internationally, operating in over 20 countries, with a strong presence in Southeast Asia, China, and Australia.
In addition to food and beverage, F&N has a significant property development business in Singapore, specializing in residential, commercial, and industrial properties. This diversified business model helps F&N maintain stability amid market fluctuations.
With its strong market position, commitment to sustainability, and innovative approach, F&N is well-positioned for continued growth in the coming year
24. SATS
SATS Ltd., a leading provider of food solutions and gateway services in Asia, reported a revenue (approximately US$3.81 billion) for the fiscal year 2024, marking a significant increase from S$1.8 billion in the previous year. SATS operates two primary business segments: Food Solutions and Gateway Services. The Food Solutions segment provides airline catering, institutional catering, and food manufacturing services, while the Gateway Services segment offers ground handling, cargo, and security services at airports.
The company has a strong presence in over 50 locations across 27 countries, employing approximately 50,000 people. SATS's revenue growth is attributed to increased demand for its services, with a focus on expanding its international footprint. Notably, in 2023, SATS acquired Worldwide Flight Services (WFS), becoming the world's largest air cargo handler, which enhanced its capabilities in cargo handling and strengthened its position in the global logistics network.
For the half-year period ended September 30, 2024, SATS posted a net profit of S$134.7 million, compared to a net loss of S$7.8 million in the same period the previous year. The company achieved a profit margin of 3.61% and a return on assets of 3.08%. SATS aims to leverage strategic acquisitions and operational efficiencies to drive sustainable growth in the coming years while continuing to expand its service offerings and international presence.
Revenue (2024): US$3.81 billion
25. Razer
Razer Inc. is a globally recognized brand in the gaming and e-sports industry, known for its innovative hardware, software, and services designed to elevate the gaming experience. Headquartered in Singapore, Razer has become one of the leading names in the gaming world, with a significant following among professional e-sports athletes, gamers, and tech enthusiasts. The company's products are known for their high performance, advanced features, and stylish designs.In 2024, Razer achieved an impressive revenue of US$3.7 billion, driven by its diverse range of products and strong brand presence. The company’s revenue is supported by a combination of hardware sales, including gaming laptops, peripherals, and accessories, along with software services such as Razer Synapse (its cloud-based hardware configuration platform) and Razer Gold (a virtual credit system for gamers). Razer's commitment to creating high-quality, performance-driven products has helped the company solidify its position as one of the top names in the gaming industry.
Revenue (2024): US$3.7 billion