Singapore is a sovereign island country in maritime Southeast Asia. A global city, it has a highly developed market economy, based historically on extended entrepôt trade and more recently as a financial hub as well. Its economy is known as the most freest, most innovative, most competitive, most dynamic and most business-friendly in the world by various multinational economists, think-tanks and organisations. [1] Furthermore, Singapore is also consistently ranked as one of the least corrupt countries in the world, and the most transparent in all of Asia on the Corruption Perceptions Index (CPI). [2]
Singapore is a wealthy country, and is one of the original Four Asian Tigers, having also surpassed its peers in terms of GDP per capita, being the second highest in the world. Between 1965 and 1995, growth rates averaged around 6 per cent per annum, transforming the living standards of the population within a single generation. [3] To start a business in Singapore, business owners have to register with the Accounting and Corporate Regulatory Authority (ACRA). [4] ACRA is the national regulator and company registrar of business entities, accountants and service providers in Singapore.
This list shows firms in the Forbes Global 2000, which ranks the world's largest public companies for 2022. [5] Only the top five firms (if available) are included as a sample.
Rank | Image | Name | 2022 revenues (USD billion) | 2022 assets (USD billion) | Notes |
---|---|---|---|---|---|
218 | | OCBC Bank | 22.9 | 402.2 | OCBC Bank is a publicly listed financial services organisation and is the second-largest bank in Southeast Asia by total assets. |
244 | ![]() | DBS Group | 12.4 | 509.1 | DBS Bank is a multinational banking and financial services corporation. |
362 | ![]() | Wilmar International | 65.8 | 58.7 | Wilmar is an agribusiness acting as a holding company for more than 400 subsidiaries. |
367 | | UOB | 8.9 | 340.7 | UOB is a Singaporean multinational banking organisation, with branches mostly found in most Southeast Asian countries. |
735 | ![]() | Singtel | 11.8 | 35.0 | Singapore's largest telecommunications company with operations in Asia, Australia and Africa. |
This list shows firms in the Fortune Global 500, which ranks firms by total revenue for 2022. [6] Only the top five firms (if available) are included as a sample.
Rank | Image | Name | 2022 revenues (USD billion) | Employees | Notes |
---|---|---|---|---|---|
19 | ![]() | Trafigura Group | 231.308 | 9,031 | Parent (Trafigura Beheer BV) is a Swiss/Dutch entity, but primary operations are from the Trafigura Group in Singapore. |
192 | ![]() | Wilmar International | 65.793 | 100,000 | Wilmar is an agribusiness acting as a holding company for more than 400 subsidiaries. |
406 | Olam Group | 24.419 | 62,548 | Olam Group is a food and an agribusiness company founded in Nigeria; with primary operations and headquarters in Singapore. |
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This list includes notable companies with primary headquarters located in the country. The industry and sector follow the Industry Classification Benchmark taxonomy. Organizations which have ceased operations are included and noted as defunct.
Name | Industry | Sector | Headquarters | Founded | Notes |
---|---|---|---|---|---|
2C2P | Industrials | Financial administration | Singapore | 2003 | Money movement |
ABR Holdings | Financials | Real estate holding & development | Singapore | 1978 | Development of food retail properties, SGX: 533 |
Aetos Security Management | Industrials | Business support services | Singapore | 2004 | Security services |
Agoda | Consumer services | Travel & tourism | Singapore | 2005 | Travel agency |
AIBI International | Consumer goods | Recreational products | Singapore | 1985 | Health and fitness products |
Awfully Chocolate | Consumer goods | Food products | Singapore | 1998 | Confectionery |
Ayam Brand | Consumer goods | Food products | Singapore | 1892 | Prepared foods |
Bee Cheng Hiang | Consumer goods | Food products | Singapore | 1933 | Singaporean cuisine |
Bengawan Solo | Consumer goods | Food products | Singapore | 1979 | Singaporean cuisine |
BlueSG | Consumer services | Car rental | Singapore | 2017 | Electric car rental |
Boustead Singapore | Industrials | Business support services | Singapore | 1828 | Engineering, SGX: F9D |
BreadTalk | Consumer goods | Food products | Singapore | 2000 | Bakery, SGX: 5DA |
Broadcom Limited | Technology | Semiconductors | Singapore (Dual HQ in US) | 1961 | Nasdaq: AVGO |
CapitaLand | Financials | Real estate holding & development | Singapore | 2000 | Developer, SGX: C31 |
Carousell | Technology | Software | Singapore | 2012 | E-commerce platform |
Certis CISCO | Industrials | Business support services | Singapore | 1958 | Private security |
Charles & Keith | Consumer services | Apparel retailers | Singapore | 1996 | Clothing retailer |
China Aviation Oil | Oil & gas | Exploration & production | Singapore | 1993 | SGX: G92 |
Circles.Life | Telecommunications | Fixed-line telecommunications | Singapore | 2016 | Telecom |
City Developments Limited | Financials | Real estate holding & development | Singapore | 1963 | Developer, SGX: C09 |
Cold Storage | Consumer services | Food retailers & wholesalers | Singapore | 1908 | Supermarket chain |
ComfortDelGro | Consumer services | Travel & tourism | Singapore | 2003 | Passenger transport, SGX: C52 |
Courts Singapore | Consumer goods | Furniture | Singapore | 1974 | Electronics and furniture |
Creative Technology | Technology | Computer hardware | Singapore | 1981 | SGX: C76 |
DBS Bank | Financials | Banks | Singapore | 1968 | SGX: D05 |
dnata Singapore | Industrials | Delivery services | Singapore | 1997 | Ground handling |
Eu Yan Sang | Consumer services | Specialty retailers | Singapore | 1879 | Traditional Chinese medicine retailers |
Far East Orchard | Consumer services | Hotels | Singapore | 1967 | Hotels, part of Far East Organization |
Far East Organization | Financials | Real estate holding & development | Singapore | 1962 | Property development |
FilmTack | Industrials | Building materials & fixtures | Singapore | 1980 | Glass tinting |
Flextronics | Industrials | Electronic equipment | Singapore | 1964 | Manufacturing |
Fraser and Neave | Consumer goods | Food products | Singapore | 1883 | SGX: F99 , creator of Tiger Beer and 100plus |
Frasers Property | Financials | Real estate holding & development | Singapore | 1963 | Property development |
Gardenia Foods | Consumer goods | Food products | Singapore | 1978 | Bakery, SGX: Q01 |
Garena | Technology | Software | Singapore | 2009 | Game and software development |
Genting Singapore | Consumer services | Travel & tourism | Singapore | 1984 | Hospitality and tourism |
GIC | Conglomerates | – | Singapore | 1981 | State-owned holding company |
GlobalRoam | Telecommunications | mobile telecommunications | Singapore | 2001 | information technology |
Golden Agri-Resources | Basic materials | Commodity chemicals | Singapore | 1996 | Palm oil |
Grab | Technology | Internet | Singapore | 2012 | Car and Taxi hailing service |
Great Eastern Life | Financials | Life insurance | Singapore | 1908 | Life insurance |
Haw Par Corporation | Consumer goods | Ointments and liniments | Singapore | 1969 | SGX: H02 , inventor of Tiger Balm |
Hyflux | Industrials | Heavy construction | Singapore | 1989 | Energy infrastructure construction |
Jean Yip Group | Consumer Services | Specialized consumer services | Singapore | 2004 | Beauty salon chain |
Jetstar Asia Airways | Consumer Services | Airlines | Singapore | 2004 | Low-cost airline |
John Little | Consumer services | Broadline retailers | Singapore | 1845 | Acquired by Robinsons & Co. |
Jurong Port | Industrials | Transportation services | Singapore | 2001 | Port operator |
JTC Corporation | Financials | Real estate holding & development | Singapore | 1968 | State-owned developer |
Keppel Corporation | Industrials | Diversified industrials | Singapore | 1968 | World's largest oil rig builder; SGX: BN4 |
Killiney Kopitiam | Consumer services | Restaurants & bars | Singapore | 1919 | Café chain for Singaporean cuisine |
Kopitiam | Consumer services | Restaurants & bars | Singapore | 1988 | Food court for Singaporean cuisine |
Koka | Consumer goods | Food products | Singapore | 1986 | Prepared foods |
Koufu | Consumer goods | Restaurants & bars | Singapore | 2002 | Food court chain |
Lazada | Technology | Software | Singapore | 2012 | E-commerce platform |
M1 Limited | Telecommunications | Fixed-line telecommunications | Singapore | 1994 | Telecom |
Marshall Cavendish | Consumer services | Specialty retailers | Singapore | 1968 | Books |
Mediacorp | Consumer services | Broadcasting & entertainment | Singapore | 1963 | Diversified media holdings |
MindChamps | Consumer services | Education | Singapore | 1998 | SGX: CNE |
Mr Bean | Consumer goods | Food products | Singapore | 1995 | Singaporean cuisine and soy products |
MyRepublic | Telecommunications | Fixed line telecommunications | Singapore | 2011 | Telecom |
NETS | Financials | Electronic payment services | Singapore | 1985 | Payments and financial processing services |
Neptune Orient Lines | Industrials | Marine transportation | Singapore | 1958 | Cargo shipping; merged with CMA CGM |
Northstar Group | Financials | Equity investment instruments | Singapore | 2003 | Investment holdings |
NTUC FairPrice | Consumer services | Food retailers & wholesalers | Singapore | 1973 | Supermarket chain |
OCBC Bank | Financials | Banks | Singapore | 1932 | SGX: O04 |
Old Chang Kee | Consumer goods | Food products | Singapore | 1956 | Singaporean cuisine |
O' Coffee Club | Consumer services | Restaurants & bars | Singapore | 1991 | Café chain |
Olam International | Basic materials | Raw materials | Singapore | 1989 | SGX: O32 , majority owned by Temasek Holdings |
Omni United | Industrials | Commercial tires | Singapore | 2003 | Tire manufacturer |
On Cheong Jewellery | Consumer services | Specialty retailers | Singapore | 1936 | Jewelry |
Osim International | Consumer services | Specialty retailers | Singapore | 1980 | Healthy lifestyle retailer, SGX: O23 |
PSA International | Industrials | Transportation services | Singapore | 1964 | Port operator, SGX: N06 |
Pokka | Consumer goods | Assorted beverages | Singapore (Dual HQ in JP) | 1977 | Controls and manufactures the international market |
Popular Holdings | Consumer services | Specialty retailers | Singapore | 1924 | Books, SGX: P29 |
POSB Bank | Financials | Banks | Singapore | 1877 | Bank, part of DBS Bank |
Prima Taste | Consumer goods | Food products | Singapore | 1998 | Prepared foods |
Prime Supermarket | Consumer services | Food retailers & wholesalers | Singapore | 1984 | Supermarket chain |
Razer | Technology | Hardware | Singapore | 2005 | Gaming hardware |
Renewable Energy Corporation | Industrials | Electrical components & equipment | Singapore | 1996 | Solar energy manufacturer |
RSP Architects Planners & Engineers | Industrials | Engineering and contracting services | Singapore | 1956 | Architecture, engineering, and design company privately-owned by Peter Lim |
Robinsons & Co. | Consumer services | Broadline retailers | Singapore | 1858 | Operates a chain of department stores |
SATS Ltd | Industrials | Transportation services | Singapore | 1972 | Airline support, SGX: S58 |
SATS Security Services | Industrials | Transportation services | Singapore | 1965 | Subsidiary of SATS |
SBS Transit | Consumer services | Travel & tourism | Singapore | 1973 | Passenger transportation, SGX: S61 |
Scoot | Consumer services | Airlines | Singapore | 2011 | Low-cost airline |
Sea Limited | Conglomerates | – | Singapore | 2019 | Owns Garena and Shopee |
Secretlab | Consumer goods | Furniture | Singapore | 2014 | Gaming chairs |
Sembcorp | Industrials | Diversified industrials | Singapore | 1963 | Urban and utility development, SGX: U96 |
SembCorp Marine | Industrials | Commercial vehicles & trucks | Singapore | 1963 | SGX: S51 |
Senoko Energy | Utilities | Conventional electricity | Singapore | 1977 | Operates the Senoko Power Station |
SIA Engineering Company | Industrials | Aerospace | Singapore | 1992 | SGX: S59 |
Singapore Press Holdings | Financials | Real estate holding & development | Singapore | 1984 | Real estate holdings; merged with Cuscaden Peak |
SPH Media Trust | Consumer services | Publishing | Singapore | 2021 | Publisher |
SMRT Corporation | Consumer services | Travel & tourism | Singapore | 2000 | Public transportation |
SGAG | Consumer services | Broadcasting & entertainment | Singapore | 2012 | Social media website and news media company |
Shaw Organisation | Consumer services | Entertainment & media | Singapore | 1925 | Film distribution and cinemas company |
Sheng Siong | Consumer services | Food retailers & wholesalers | Singapore | 1985 | Supermarkets |
Shopee | Technology | Software | Singapore | 2015 | E-commerce platform |
SilkAir | Consumer services | Airlines | Singapore | 1992 | Regional airline, merged with Singapore Airlines |
Singapore Airlines | Consumer services | Airlines | Singapore | 1947 | SGX: S55 |
Singapore Airlines Cargo | Industrials | Airlines | Singapore | 2001 | Cargo airline, part of Singapore Airlines |
Singapore Exchange | Financials | Investment services | Singapore | 1999 | Exchange |
Singapore Pools | Consumer services | Lottery | Singapore | 1968 | Part of the Tote Board under the Ministry of Finance |
Singapore Petroleum Company Limited | Oil & gas | Exploration & production | Singapore | 1969 | SGX: S99 |
Singlife | Financials | Full line insurance | Singapore | 2017 | Insurance |
SP Group | Utilities | Conventional electricity | Singapore | 1995 | Part of Temasek Holdings |
Singapore Post | Industrials | Delivery services | Singapore | 1819 | SGX: S08 |
Singtel | Telecommunications | Mobile telecommunications | Singapore | 1992 | Mobile network, SGX: Z74 |
ST Engineering | Industrials | Diversified industrials | Singapore | 1967 | Aerospace, electronics |
Standard Chartered Singapore | Financials | Banks | Singapore | 1859 | Subsidiary of Standard Chartered |
StarHub | Telecommunications | Fixed-line telecommunications | Singapore | 1998 | SGX: T54 |
Surbana Jurong | Industrials | – | Singapore | 2015 | Part of Temasek Holdings |
Systems on Silicon Manufacturing | Technology | Semiconductors | Singapore | 1998 | Manufacturing |
Tangs | Consumer services | Broadline retailer | Singapore | 1932 | Department stores |
Tee Yih Jia | Consumer goods | Food products | Singapore | 1969 | Food production |
Temasek Holdings | Conglomerates | – | Singapore | 1974 | State-owned holding company |
Thakral Corporation | Conglomerates | – | Singapore | 1995 [7] | SGX: Y03 |
The Cocoa Trees | Consumer goods | Food products | Singapore | 1991 | Confectionery |
The Hour Glass | Consumer goods | Recreational products | Singapore | 1979 | SGX: AGS , Luxury watches |
Tiger Airways Holdings | Consumer services | Airlines | Singapore | 2007 | SGX: J7X |
Tiger Balm | Consumer goods | Ointments and liniments | Singapore | 1969 | Owned by Haw Par Corporation |
Twelve Cupcakes | Consumer goods | Food products | Singapore | 2011 | Confectionery |
TWG Tea | Consumer goods | Tea drinks | Singapore | 2007 | Tea |
UTAC Group | Technology | Semiconductors | Singapore | 1997 | SGX: U12 |
U2opia Mobile | Telecommunications | Mobile technology | Singapore | 2010 [8] | Fonetwish |
Vertex Venture Holdings | Financials | Equity investment instruments | Singapore | 1988 | Investment holdings |
Wilmar | Basic Materials | Commodity chemicals | Singapore | 1991 | SGX: F34 |
Ya Kun Kaya Toast | Consumer services | Restaurants & bars | Singapore | 1944 | Café chain for Singaporean cuisine |
Yeo Hiap Seng (Yeo's) | Consumer goods | Soft drinks | Singapore | 1900 | SGX: Y03 , part of Far East Organization |
YHI International | Industrials | Commercial tires | Singapore | 1948 | Tire manufacturer, SGX: Y08 |
Zalora | Technology | Software | Singapore | 2012 | E-commerce platform |
Singapore, officially the Republic of Singapore, is an island country and city-state in maritime Southeast Asia. It is located about one degree of latitude north of the equator, off the southern tip of the Malay Peninsula, bordering the Strait of Malacca to the west, the Singapore Strait to the south along with the Riau Islands in Indonesia, the South China Sea to the east, and the Straits of Johor along with the State of Johor in Malaysia to the north. The country's territory comprises one main island, 63 satellite islands and islets, and one outlying islet; the combined area of these has increased by approximately 25% since the country's independence as a result of extensive land reclamation projects. It has the third highest population density of any country in the world, although there are numerous green and recreational spaces as a result of urban planning. With a multicultural population and in recognition of the cultural identities of the major ethnic groups within the nation, Singapore has four official languages: English, Malay, Mandarin, and Tamil. English is the common language, with its exclusive use in numerous public services. Multi-racialism is enshrined in the constitution and continues to shape national policies in education, housing, and politics.
The economy of Singapore is a highly developed mixed market economy with dirigiste characteristics. Singapore's economy has been consistently ranked as the most open in the world, the joint 4th-least corrupt, and the most pro-business. Singapore has low tax-rates and the second highest per-capita GDP in the world in terms of purchasing power parity (PPP). The Asia-Pacific Economic Cooperation (APEC) is headquartered in Singapore.
The Corruption Perceptions Index (CPI) is an index that scores and ranks countries by their perceived levels of public sector corruption, as assessed by experts and business executives. The CPI generally defines corruption as an "abuse of entrusted power for private gain". The index is published annually by the non-governmental organisation Transparency International since 1995.
The following are international rankings of Thailand.
Economics of corruption deals with the misuse of public power for private benefit and its economic impact on society. The goal of the discipline is to study the causes and consequences of corruption and how it affects the economical functioning of the state.
The following are international rankings of Israel:
Corruption in Denmark is amongst the lowest in the world.
Corruption in South Korea is moderate compared to most countries in the Asia–Pacific and the broader international community. Transparency International's 2023 Corruption Perceptions Index scored South Korea at 63 on a scale between 0 and 100. When ranked by score, South Korea ranked 32nd among the 180 countries in the Index, where the country ranked first is perceived to have the most honest public sector. For comparison with worldwide scores, the best score was 90, the average score was 43, and the worst score was 11. For comparison with regional scores, the highest score among the countries of the Asia–Pacific region was 85, the average score was 45 and the lowest score was 17.
According to a 2013 public survey in Malaysia by Transparency International, a majority of the surveyed households perceived Malaysian political parties to be highly corrupt. A quarter of the surveyed households consider the government's efforts in the fight against corruption to be ineffective. Corruption in Malaysia generally involves political connections still playing an important role in the outcome of public tenders.
The Republic of Singapore is generally perceived as one of the least corrupt countries in the world. Cases are mostly handled by the Singapore Corrupt Practices Investigation Bureau (CPIB), a government agency in Singapore that investigates and prosecutes corruption in the public and private sectors. According to a Transparency International survey, an overwhelming majority of people in Singapore do not hear cases of corruption by public officials or institutions through media in their lifetime. In 2020, Singapore's public sector was ranked by Transparency International as the fourth least corrupt in the world and the most transparent in Asia.
Corruption in Myanmar is among the worst in the world. Owing to failures in regulation and enforcement, corruption flourishes in every sector of government and business. Many foreign businesspeople consider corruption "a serious barrier to investment and trade in Myanmar." A U.N. survey in May 2014 concluded that corruption is the greatest hindrance for business in Myanmar. The ongoing civil war has significantly set back anti-corruption efforts, exacerbating the problem.
Nadiem Anwar Makarim is an Indonesian politician and businessman who is the current minister of education, culture, research, and technology of Indonesia.