8 Singapore firms make it to Forbes list

Eight locally-listed companies have made it to the Forbes list of best small- and medium-sized firms, attributed to growing sectors like property, resources and infrastructure.

The number of Singapore companies on the “Best Under A Billion” list of Forbes Asia has increased from five in 2009, but is still lower compared to the 14 firms in 2008 and 20 in 2007.

The eight firms, all making their first appearance on the list, include Straits Asia Resources, Riverstone Holdings, OKP Holdings, Ho Bee Investment, Hiap Seng Engineering, Design Studio Furniture Manufacturer, Baker Technology and ARA Asset Management.

The companies come from different sectors but have created a niche in their fields. Their performances have also been boosted by the economic recovery in Singapore and the region.

The “Best Under A Billion” list, which is on its sixth year, selects the top 200 Asia-Pacific companies with sales under US$1 billion or S$1.35 billion.

Forbes Asia made the selection from 13,000 listed firms, based on their earnings growth, shareholders’ return on equity and sales growth in the past 12 months and over three years.