Despite downturn, manufacturing companies still rule.
This year's E50 list comprises 12 companies (24%) whose main business focus is still manufacturing
November 14, 2004
Fifty of Singapore's most enterprising privately-held companies and five startups will be honoured this evening at the ninth Enterprise 50 and e50.startup Gala Dinner and Award Presentation. Mr. Lim Boon Heng, Minister, Prime Minister's Office, is the Guest-of-Honour at the event, which will be held at the Raffles City Convention Centre.
This year's Enterprise 50 (E50) ranking proved to be as competitive as before. Based on a quantitative and qualitative evaluation process, which takes into consideration weighted averages of performance indicators such as operating profit before tax, turnover and profit growth over the last three years, the top three companies that emerged are Petra Foods Pte Ltd in the first position, second is B.B.S. Electronics Pte Ltd, followed by Metal Component Engineering Pte Ltd in the third.
This year's E50 list comprises following industries: manufacturing (24%), wholesale/distribution (18%), engineering (8%), IT (10%), food (18%), construction/real estate (4%), logistics (2%) and others¹ (16%).
As in previous rankings, companies in the manufacturing sector continue to account for the majority of the winners at 24%. However, food-related companies are gaining in representation. They came in at 18% of the list, representing a significant increase over last year's showing. This year also sees the new entry of the financial services sector with two wealth management companies.
“The Enterprise 50 continues to be the definitive list for the top privately-held companies in Singapore,'' Mr Seah Chin Siong, Country Managing Director, Accenture, and co-chairman of the Enterprise 50 Steering Committee said. “With the stringent criteria set, not all companies can make the mark, and especially in this economic climate this year's winners serve as role models for other companies. “
Data, derived from information submitted by the companies for this year's E50 ranking, indicates that successful companies have expanded more overseas during this local economic downturn. The top ten of 2003 saw an average of 76% of their turnover from overseas operations, whereas in 1998, the top ten had the lower average of 64% of their turnover from overseas operations.