Singapore, 16 July 2018 - To celebrate the spirit of innovation that enables companies to expand and grow, The Straits Times is inviting companies to take part in a new survey to uncover the fastest growing companies in Singapore.
All companies, regardless of size, which have their headquarters in Singapore are eligible to join the project to determine if they are able to make it into the list of 'Singapore's Fastest Growing Companies'.
Companies will have to submit their revenue data collected over four years, as one of the main criteria would be revenue growth from the companies' operations.
While there is no entry fee, participating companies must have reported revenues of at least $150,000 in 2014 and $1.5 million in 2017, excluding any investment or fund injections. All submissions must be verified by the companies' top executives.
'Singapore's Fastest Growing Companies' is conducted jointly with Statista, an international market research firm based in Hamburg, Germany, that has provided business intelligence and research on more than 80,000 topics. It was previously involved in similar corporate rankings in Britain, France, Switzerland and Germany.
Mr Warren Fernandez, editor-in-chief of The Straits Times and Singapore Press Holdings' English, Malay, Tamil Media Group, said; "Our aim is to showcase companies which are doing something right, as shown by their rapid acceleration on the growth curve. What are these companies doing to help them get ahead? Our survey will delve into that, drawing out lessons that all our readers might find useful and interesting."
Mr Friedrich Schwandt, founder and chief executive officer of Statista, said: "We are very excited to kick-off this initiative with The Straits Times in Singapore. And I am very curious to find out the growth engines in one of the most vibrant economies in the world."
From previous exercises by Statista in other countries, he noted that companies in Singapore should consider taking part if they have recorded an average growth rate of about 10 per cent and more annually in the given period.
While it is usual for public-listed companies to make it into the list of fastest growing companies, relatively small and privately-held enterprises are likely to take top positions in the ranking.
"This observation leads to a central objective of this initiative, which is to shed light on little-known firms that have the potential to develop into future pillars of Singapore's economy," Mr Schwandt said.
Ms Lee Su Shyan, The Straits Times' business editor, said: "We hope to unearth the rough diamonds among Singapore businesses. Even if companies feel they are not ready, they may gain useful insights from participating. For those who have done well, it is an opportunity for us to celebrate the entrepreneurial spirit of these businesses."
Registration for the ranking will close on 17 September 2018. The results of the ranking will be announced in The Straits Times at the end of the year.
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About The Straits Times
The Straits Times, the English-language flagship daily of Singapore Press Holdings, is the most-read newspaper in Singapore and is followed widely in the region for its comprehensive coverage of local, regional and world news, provided by its correspondents in 20 bureaus in major cities worldwide.
Launched on July 15, 1845, The Straits Times underwent a major redesign across all platforms in July 2015, when it celebrated its 170th anniversary. This revamp is part of its continuing efforts to refresh its products, maintain quality and stay relevant to the changing needs of its readers. Its integrated newsroom operates round-the-clock, providing readers with news as it happens on all platforms, from its website at www.straitstimes.com, Apple and Android apps to social media.
The Straits Times is a member of two media networks - the Asia News Network and the Impact Journalism Day alliance of newspapers - and it has won multiple international media awards, including from the Society of Publishers in Asia, the World Association of Newspapers and News Publishers, the Pacific Area Newspaper Publishers' Association (Panpa), Society of News Design and Wan-Ifra. In 2017, it was conferred the silver award for best news mobile service and the bronze award for best use of online video by the World Association of Newspaper at the Digital Media Asia Awards.