7 Singaporean Companies Named to ‘Best Under A Billion 2024’ List

The list of 200 small and medium-sized public companies with revenues below $1 billion includes Singapore Exchange, which had sales of $875 million last year.

Founded in 1999, Singapore Exchange owns and operates the only integrated securities and derivatives exchange in Singapore.

Then Aztech Global, a designer and manufacturer specializing in data communications and lighting products, with operations in three factories in China and Malaysia. Aztech boasted sales of $667 million.

Chocolate and confectionery maker Delfi came in third with sales of $538 million. Founded in 1984 in Singapore, the company now exports to several Asian markets, the largest of which is Indonesia.

Eggriculture Foods, a producer of egg products, also made the list with revenue of $81 million. Founded in 2018, Eggriculture is listed in Hong Kong and headquartered in Singapore.

The other spots were filled by fast-food restaurant chain Old Chang Kee, electrical goods maker Choo Chiang Holdings and consumer lender Credit Bureau Asia, which had revenues ranging from $40 million to $75 million.

Geopolitical and inflationary headwinds dampened some Asia-Pacific economies last year, but strong domestic demand, supported by a rise in infrastructure spending and global trade, fueled the region’s overall growth in 2023, according to Forbes.

200 companies were selected from a pool of 20,000. The 2024 list includes 54 returning from last year.

Companies on the list were selected based on a combined score using metrics such as debt, sales and earnings per share growth over the most recent fiscal periods – one and three years – and the highest average return on equity over the one- and five-year periods.