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SINGAPORE 1000 & SME 500 RANKINGS SHOW SINGAPORE FIRMS IN STRONG FINANCIAL SHAPE ENTERING DOWNTURN
05 February 2009
4 February 2009 [Singapore] – With record sales
and profits, coupled with low short term debt and
strong credit ratings, Singapore’s corporate
sector is in a strong financial position entering
the economic downturn.
The healthy state
of Singapore’s leading companies was revealed in
the 2009 Singapore 1000 (S1000) and Singapore
Small and Medium Enterprise 500 (SME500) rankings
compiled by DP Information Group (DP Info).
The rankings use the audited results of over 8,000
companies incorporated in Singapore and ranks them
according to their sales, profit and return on
equity performance.
Managing Director of DP Info,
Ms Chen Yew Nah, said the S1000 and SME500
rankings provide a comprehensive financial report
card on the state of the Singapore corporate
sector.
“These ranked companies
reported strong financial numbers as the world
economy turned sour. Sales and profits hit record
levels for both the S1000 corporations and their
smaller SME500 siblings.”
“Compared to the last
financial crisis in 2001 and 2002, the Singapore
business landscape is more robust and secure. Debt
ratios have improved compared to seven years ago
while the level of cash held remains generous.”
“A high number of our companies have good credit
ratings, indicating a low probability of default
on their debts.”
“While the level of overall
short and long term debt has risen compared to
seven years ago, current ratios have remained
steady indicating companies are borrowing within
their capacity to pay.”
“So
while the next few years will be tough, we
couldn’t have asked for our local companies to be
in better shape as they enter the economic storm,”
Ms Chen said.
OVERALL PERFORMANCE – S1000
and SME500
The 2009 S1000 and SME500
companies posted a strong set of results with
every major indicator improving compared to the
previous ranking period.
SALES AND PROFITS
The
S1000 companies increased total sales by 21.6%
from S$1.3 trillion to S$1.6 trillion in this
year’s ranking period. The SME500 companies
recorded a 6.7% increase in sales from S$13.9
billion to S$14.9 billion within the same ranking
period.
Over the last seven years
S1000 companies have increased their total
turnover by 127.2%. The SME500 companies recorded
a 36.6% increase in turnover during the same
period.
In terms of profitability, the
S1000 companies saw their profits leap by 57.1% to
S$131.2 billion, while the profits of the SME500
companies increased by 43.8% to S$957.1 million.
The adoption of the new Financial Reporting
Standard 40 has also boosted the level of profits
recorded.
Between 2002 and 2008, the
Singapore 1000 company’s profit increased by
251.3% from S$37.3 billion to S$131.2 billion.
During the same period, SME500 companies increased
their profits by 252.3% from S$271.7 million to
$957.1 million.
INDEBTEDNESS AND CASH LEVELS
Compared to the last economic
downturn, both the S1000 and SME500 companies have
reduced their level of indebtedness and increased
the level of cash held. On average S1000 companies
are holding S$147.2 million in cash compared to
S$65.6 million in 2002. SME500 companies are
holding an average of S$1.9 million cash compared
to S$1.3 million in 2002.
While
the total loan amount has increased from S$80.1
million in 2002 to S$127.8 million in 2008, the
S1000 companies have managed to maintain their
current ratio consistent between 1.7 to 1.8 times
– indicating companies are borrowing well within
their means.
The SME500 companies have
maintained a 1.6 current ratio since 2002 while
reducing their dependence on debt with the average
firm owing S$1.6 million in 2008 compared to S$2.3
million in 2002.
DP CREDIT RATINGS
S1000 companies have
maintained an average credit rating of DP4
‘Investment Grade’ – indicating a less than 1%
probability of default on any debt. While this
credit rating status is strong, the expected depth
of the economic downturn may prove challenging for
some companies.
Reflecting their smaller size
and potential for growth, the SME500 companies
have maintained an average DP6 credit rating
between 2002 and 2008, placing them in the ‘High
Yield’ classification, which has a default rate of
3% to 8%.
END
ABOUT THE RANKINGS
The S1000 and SME500 are
ranked and published by DP Information Group with
Ernst and Young LLP as Co-Producers. The S1000 and
SME500 are supported by SPRING Singapore, IE
Singapore, the Infocomm Development Authority of
Singapore (IDA), and The Business Times.
The
key sponsor is HSBC and the silver sponsor is HP
Singapore.
2009
SINGAPORE 1000 & SME 500 AWARD CEREMONY AND
DINNER - “SYMMETRY”
The S1000 and SME500 Awards presentation will be held
on Thursday, February 5, 2009 (6.00 pm) at The
Grand Ballroom, The Ritz-Carlton Millenia
Singapore. The Guest of Honour is Mr Lee Yi Shyan,
Minister of State for Trade & Industry.
A
total of 46 awards will be presented. They are as
follows:-
Singapore 1000: Honorary
Award (1 company this year – winning the same
award for 3-year consecutive years)
Singapore 1000:
Sales/Turnover Excellence in 8 Industries
Singapore 1000:
Sales/Turnover Growth Excellence in 8 Industries
Singapore 1000: Net
Profit Excellence in 8 Industries
Singapore 1000: Return on
Equity Excellence in 8 Industries
Singapore SME 500:
Sales/Turnover Excellence (5 awards)
Singapore SME 500: Net
Profit Excellence (5 awards)
Singapore SME 500:
Promising SMEs (3 categories of crossing the $10
million, $20 million and $50 million marks)
For More Information:
2009 SINGAPORE 1000 & SME 500 AWARD RECIPIENTS
SINGAPORE 1000 :
HONORARY AWARD (Sales Turnover Excellence – Hospitality / F&B)
This award is conferred to companies who have been the recipient
of the same award for the last 3 consecutive years.
HOTEL PROPERTIES LIMITED
SINGAPORE 1000 :
Sales/Turnover Excellence Awards by Industry (8 Industries)
This category recognizes companies that achieved
excellence in sales turnover performance in 8
industries.
The award winners in this
award category are highlighted below:
Information & Communications
| Company Name |
Sales Current SGD'000 |
| SINGAPORE TELECOMMUNICATIONS LIMITED |
14,844,400 |
Transport / Storage
| Company Name
| Sales Current SGD ‘000 |
| SINGAPORE AIRLINES LIMITED |
15,972,500 |
Finance
| Company Name
| Sales Current SGD ‘000 |
| DBS GROUP HOLDINGS LTD |
11,481,000 |
Manufacturing
| Company Name
| Sales Current SGD ‘000 |
| HEWLETT-PACKARD SINGAPORE (PRIVATE) LIMITED |
19,396,639 |
Retail
| Company Name
| Sales Current SGD ‘000 |
| COLD STORAGE SINGAPORE (1983) PTE LTD |
1,303,426 |
Services
| Company Name
| Sales Current SGD ‘000 |
| HEWLETT-PACKARD INTERNATIONAL PTE LTD |
20,543,440 |
Hospitality / F&B
| Company Name
| Sales Current SGD ‘000 |
| BANYAN TREE HOLDINGS LIMITED |
421,859 |
Wholesale
| Company Name
| Sales Current SGD ‘000 |
| VITOL ASIA PTE LTD |
50,950,501 |
SINGAPORE 1000 : Sales/Turnover Growth Excellence Awards in
Industry (8 Industries)
The listing below reflects the Award Winners for
specific industries in terms of growth in
turnover. The industry awards are in recognition
of companies with excellent performance in
increase in sales/turnover during the ranked
period within these 8 specific industry groupings.
The award winners are highlighted below.
Information & Communications
| Company Name |
Sales Rank |
Sales Current SGD ‘000 |
Sales Previous SGD ‘000 |
Turnover Growth (%) |
| STRATEGYLAND RESEARCH LTD. |
63 |
5,212,142 |
3,559,832 |
46.42 |
Transport / Storage
| Company Name |
Sales Rank |
Sales Current SGD ‘000 |
Sales Previous SGD ‘000 |
Turnover Growth (%) |
| EZRA MARINE SERVICES PTE LTD |
757 |
215,956 |
71,403 |
202.45 |
Finance
| Company Name |
Sales Rank |
Sales Current SGD ‘000 |
Sales Previous SGD ‘000 |
Turnover Growth (%) |
| HELIOS CAPITAL MANAGEMENT PTE. LTD. |
950 |
151,283 |
32,021 |
372.45 |
Manufacturing
| Company Name |
Sales Rank |
Sales Current SGD ‘000 |
Sales Previous SGD ‘000 |
Turnover Growth (%) |
| LINEAR TECHNOLOGY PTE LTD |
181 |
1,417,301 |
96,752 |
1,364.88 |
Retail
| Company Name |
Sales Rank |
Sales Current SGD ‘000 |
Sales Previous SGD ‘000 |
Turnover Growth (%) |
| PERFORMANCE PREMIUM SELECTION LIMITED |
738 |
223,911 |
144,774 |
54.66 |
Services
| Company Name |
Sales Rank |
Sales Current SGD ‘000 |
Sales Previous SGD ‘000 |
Turnover Growth (%) |
| UNION STEEL PTE. LTD. |
689 |
247,238 |
73,719 |
235.38 |
Hospitality / F&B
| Company Name |
Sales Rank |
Sales Current SGD ‘000 |
Sales Previous SGD ‘000 |
Turnover Growth (%) |
| HOTEL PROPERTIES LIMITED |
422 |
459,842 |
355,397 |
29.39 |
Wholesale
| Company Name |
Sales Rank |
Sales Current SGD ‘000 |
Sales Previous SGD ‘000 |
Turnover Growth (%) |
| KEPPEL GAS PTE. LTD. |
579 |
313,820 |
8,749 |
3,486.92 |
SINGAPORE 1000 :
Net Profit Excellence Award in Industry (8 Industries)
This category recognizes companies that achieved excellence in net profit
performance in 8 industries.
The award winners in this award category are highlighted below:
Information & Communications
| Company Name |
Net Profit Current SGD ‘000 |
| SINGAPORE TELECOM MOBILE PTE LTD |
1,188,506 |
Transport / Storage
| Company Name |
Net Profit Current SGD ‘000 |
| SINGAPORE AIRLINES LIMITED |
2,136,900 |
Finance
| Company Name |
Net Profit Current SGD ‘000 |
| DBS GROUP HOLDINGS LTD |
2,449,000 |
Manufacturing
| Company Name |
Net Profit Current SGD ‘000 |
| GLAXO WELLCOME MANUFACTURING PTE. LTD. |
7,747,042 |
Retail
| Company Name |
Net Profit Current SGD ‘000 |
| LVMH FASHION (SINGAPORE) PTE. LTD. |
102,698 |
Services
| Company Name |
Net Profit Current SGD ‘000 |
| SEAGATE SINGAPORE INTERNATIONAL HEADQUARTERS PTE. LTD. |
3,049,651 |
Hospitality / F&B
| Company Name |
Net Profit Current SGD ‘000 |
| OVERSEAS UNION ENTERPRISE LIMITED |
645,528 |
Wholesale
| Company Name |
Net Profit Current SGD ‘000 |
| SHELL EASTERN PETROLEUM (PTE) LTD |
3,155,294 |
SINGAPORE 1000 :
ROE Excellence in Industry (8 Industries)
This category recognizes excellence in Return on Equity for the 8
industries. Excellence in ROE is computed based on
the average 2 years shareholders funds.
Consistent with the other S1000 award categories, we are awarding 1 winner in each
industry. The Table below reflects the companies to be awarded
in this category.
Information & Communications
| Company Name |
Net Profit Current SGD ‘000 |
Shareholders Fund SGD ‘000 |
ROE |
| STARHUB LTD. |
330,339 |
107,657 |
306.84% |
Transport / Storage
| Company Name |
Net Profit Current SGD ‘000 |
Shareholders Fund SGD ‘000 |
ROE |
| COUGAR LOGISTICS CORPORATION LTD |
25,036 |
14,992 |
167.00% |
Finance
| Company Name |
Net Profit Current SGD ‘000 |
Shareholders Fund SGD ‘000 |
ROE |
| TARGET ASSET MANAGEMENT PTE LTD |
95,403 |
26,924 |
354.34% |
Manufacturing
| Company Name |
Net Profit Current SGD ‘000 |
Shareholders Fund SGD ‘000 |
ROE |
| LIANG HUAT ALUMINIUM LIMITED |
142,721 |
11,457 |
1,245.71% |
Retail
| Company Name |
Net Profit Current SGD ‘000 |
Shareholders Fund SGD ‘000 |
ROE |
| LVMH FASHION (SINGAPORE) PTE. LTD. |
102,698 |
63,214 |
162.46% |
Services
| Company Name |
Net Profit Current SGD ‘000 |
Shareholders Fund SGD ‘000 |
ROE |
| ST ELECTRONICS (TRAINING & SIMULATION SYSTEMS) PTE. LTD. |
13,176 |
3,259 |
404.30% |
Hospitality / F&B
| Company Name |
Net Profit Current SGD ‘000 |
Shareholders Fund SGD ‘000 |
ROE |
| PAN PACIFIC HOTELS AND RESORTS PTE. LTD. |
12,124 |
20,177 |
60.09% |
Wholesale
| Company Name |
Net Profit Current SGD ‘000 |
Shareholders Fund SGD ‘000 |
ROE |
| HEWLETT-PACKARD ASIA PACIFIC PTE. LTD. |
16,829 |
2,109 |
797.96% |
SINGAPORE SME 500 AWARDS
The Award Winners for the Singapore SME 500 in terms of Sales Turnover, Net
Profit and PSMEs are as follows:
SINGAPORE SME 500 :
Sales Turnover Excellence Awards
| Company Name |
Business Classification |
Sales Current SGD ‘000 |
| SINGAPORE HIGHPOLYMER CHEMICAL PRODUCTS PTE LTD |
Mfg - Chemical / Chemical Products |
78,640 |
| NAM LEONG CO PTE. LTD. |
Wholesale - Construction Materials / Hardware / Metals |
76,499 |
| PRIME TRAVEL & TOUR PTE. LTD. |
Services - Entertainment / Leisure |
73,975 |
| SINEUROPE PTE LTD |
Wholesale - Food / Beverages / Tobacco |
71,475 |
| S & I SYSTEMS PTE LTD |
Information & Communications - Computer / E-Commence / IT related |
68,866 |
SINGAPORE SME 500 :
Net Profit Excellence Award
| Company Name |
Business Classification |
Net Profit Current SGD ‘000 |
| DOLLAR LAND SINGAPORE PRIVATE LIMITED |
Property - Real Estate Investment / Developers |
52,419 |
| INTERNATIONAL ASSOCIATED COMPANY PRIVATE LIMITED |
Property - Real Estate Investment / Developers |
42,889 |
| ALPHA SECURITIES PRIVATE LIMITED |
Finance – Investment / Stockbroking |
22,972 |
| LAM SOON REALTY (PTE) LTD |
Property – Real Estate Activities |
22,032 |
| TAT LEE CO PRIVATE LTD |
Holdings – Investment / Holding Activities |
21,798 |
SINGAPORE SME 500 : PSME Awards
The SME Awards are given to
companies which achieved the highest turnover
growth having crossed 3 selected turnover points, namely:
a) crossed $10 Million
b) crossed $20 Million
c) crossed $50 Million
As per the current practice,
within each award category one award is to be presented.
Category 1 –
Conferred to the company which attained the highest turnover growth
with turnover increased from below $10m to above $10m
and the turnover still falling between $10m and $20m.
LIAN HOE HARDWARE PTE LTD
| Turnover (Current) SGD '000 |
Turnover (Previous) SGD '000 |
Growth in Turnover (%) |
SME Turnover Rank |
Profit (Current) SGD '000 |
Business Classification |
| 16,205 |
553 |
2,830 |
433 |
1,069 |
Wholesale – Construction Materials / Hardware / Metals |
Category 2 - Conferred to the company which
attained the highest turnover growth with its
turnover increased from below $20m to between
$20m and $50m.
EAST ASIA ENERGY PTE. LTD.
| Turnover (Current) SGD '000 |
Turnover (Previous) SGD '000 |
Growth in Turnover (%) |
SME Turnover Rank |
Profit (Current) SGD '000 |
Business Classification |
| 34,701 |
2,298 |
1,410 |
146 |
4,017 |
Construction – General Construction Activities |
Category 3 - Conferred to the
company which attained the highest turnover growth
with its turnover increased from below $50m to above
$50m.
WELLTECH CONSTRUCTION PTE LTD
| Turnover (Current) SGD '000 |
Turnover (Previous) SGD '000 |
Growth in Turnover (%) |
SME Turnover Rank |
Profit (Current) SGD '000 |
Business Classification |
| 51,775 |
16,259 |
218 |
52 |
1,363 |
Construction – Structural / Mechanical Engineering |
Appendix 1
ABOUT DP INFORMATION GROUP
DP Information Group (DP Info) is Singapore's leading credit and business information bureau. A veteran of 30 years, it currently serves 95% of Singapore's financial institutions and 75% of its leading law firms. Through its online information portal, QuestNet, DP Info enables clients to make confident credit management decisions everyday based on comprehensive, accurate and reliable information.
DP Info offers a credit scoring solution for the national credit consumer market and is also a developer of DP Credit Ratings, a proprietary corporate credit ratings model based on the probability of default.
DP Info is an advocate of the SME and entrepreneurial communities. Through its ACRA-appointed service bureau, DP Bureau, it assists these 2 segments in starting their business and operating them effectively and efficiently through their initial years.
DP Info Group's minority stakeholder is Experian®, one of the world's largest credit reference agencies. With this relationship, Experian brings to DP Info global technical and developmental expertise in a wealth of areas including consumer and corporate credit analytics. Additionally, it enhances DP Info's existing services and enables the implementation of international best practices to meet the demands of a global economy. Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index.
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