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These 6 S'pore Firms Made The Cut For Forbes Asia's Best Under A Billion 2020 List

Forbes has recently released its annual Best Under A Billion list, which highlights 200 publicly-listed small and medium enterprises (SMEs) in the Asia Pacific region with sales under US$1 billion.

These companies have consistent top- and bottom-line growth, showcasing track records of stellar corporate performance.

According to Forbes, this list is based on full-year data as of July 7 and does not fully reflect the impact from the downturn caused by COVID-19.

The companies on this list have also ranked above their peers in terms of sales and profit growth, low debt levels and robust governance.

Out of the 200 companies in the region, six from Singapore have made the cut. Here’s a closer look at these homegrown companies:

1. Singapore Exchange

singapore exchange sgx
Image Credit: Singapore Exchange

The Singapore Exchange (SGX) topped the Singapore list with US$666 million in sales, US$286 million in net income and a market value of US$6.3 billion.

SGX is an investment holding company that provides different services related to securities and derivatives trading, among others. It is a member of the World Federation of Exchanges and the Asian and Oceanian Stock Exchanges Federation.

SGX plays a key role in Asia’s securities and derivatives market, offering the world’s largest offshore market for Asian equities index derivatives. Its markets attract many overseas players, and approximately 40 per cent of listed companies have their origins overseas.

The company was formed in 1999 through a consolidation of three Singaporean companies that ran exchanges and clearing services, namely Stock Exchange of Singapore (SES), Singapore International Monetary Exchange (Simex) and Securities Clearing and Computer Services (SCCS).

The company went public in November 2000. Over 20 per cent of SGX shares are held by SEL Holdings, a special-purpose company wholly owned by Temasek Holdings under Singapore’s regulations that restrict the exercise of votes attached to shares of financial exchange companies.

2. AEM Holdings

aem holdings semiconductor
Image Credit: AEM Holdings

AEM Holdings ranks second in Singapore with US$237 million in sales, US$286 million in net income and a market value of US$640 million.

Mainboard-listed AEM designs and builds high-density semiconductor test handlers used by the world’s leading chip manufacturers. It counts US tech giant Intel Corp as one of its key clients, which accounts for more than 90 per cent of its revenue.

Founded in 1990 and listed 10 years later, AEM is now a leader in application-specific intelligent system test and handling solutions for semiconductor and electronics companies, serving the advanced computing, 5G and artificial intelligence (AI) markets.

The group has five plants — in Singapore, Penang, Suzhou in China, Finland and France. R&D is carried out here, and in France and Finland.

AEM’s future will be driven by exponential growth in integrated circuits, as demand moves from consumer applications such as laptops and smartphones into infrastructure and automobiles.

3. Union Gas

Image Credit: Union Gas

Union Gas records US$58 million in sales, US$6 million in net income and a market value of US$48 million.

From a traditional LPG player in its early days, home-grown Union Gas Holdings (Union Gas) has evolved with the times to also supply CNG and diesel.

Listed on the Singapore Exchange’s Catalist board in July 2017, Union Gas is a provider of fuel products to the residential, commercial and industrial sectors in Singapore.

Today, Union Gas is the largest supplier of bottled LPG cylinders to households in Singapore and has about 180,000 customers.

Union Gas also runs Cnergy, a 24-hour fuel station at Old Toh Tuck Road, selling CNG and diesel. It is also a key CNG supplier to industrial customers such as Rolls-Royce, Enviro Gas, Keppel Fels and ST Marine companies.

4. Khoon Group

khoon group singapore
Image Credit: HKEX via Twitter

Khoon Group records US$36 million in sales, US$3 million in net income and a market value of US$48 million.

Founded in 1988, Khoon Group Limited operates as a mechanical and electrical (M&E) service provider.

It specialises in providing electrical engineering solutions such as customisation and installation of electrical systems, assisting to obtain statutory approvals, testing, and commissioning.

Its electrical engineering services are applicable in new building developments, redevelopment, repair, additions and alterations works to existing buildings and structures, and upgrading projects, which involve residential, commercial and industrial buildings.

The company is engaged in both public and private sector projects.

5. Eggriculture Foods

eggriculture eggs singapore
Image Credit: N&N Agriculture

Eggriculture Foods records US$34 million in sales, US$4 million in net income and a market value of US$8 million.

Founded in 2018, the Group is mainly engaged in the production and sale of egg products, primarily in Singapore.

They are currently one of the only three-layer farms licensed by the Agri-Food & Veterinary Authority of Singapore (AVA) to produce fresh chicken eggs in Singapore, occupying 13 hectares of farm land in Singapore.

They have about half a million layers producing an average of 350,000 fresh eggs daily.

The firm’s product categories include fresh chicken eggs (sold under the name N&N Agriculture) and processed eggs. Its pasteurised shell eggs is sold under the brand Egg Story.

6. Snack Empire

shihlin taiwan street snacks singapore
Image Credit: Snack Empire Holdings

Snack Empire records US$18 million in sales, US$3 million in net income and a market value of US$23 million.

Snack Empire Holdings Ltd. engages in the wholesale and retail of food and beverages. It is involved in the provision of food catering services through a chain of Taiwan-style cafés.

Established in 2003, its F&B brand Shihlin Taiwan Street Snacks started with a vision to introduce authentic Taiwanese cuisine from the alleys of Taiwan’s night markets.

Their menu features authentic Taiwanese favourites such as XXL Crispy Chicken, Crispy Floss Egg Crepe, Handmade Oyster Mee Sua and Seafood Tempura.

With more than 16 years of experience, the group has expanded to more than 200 outlets and restaurants internationally, in Singapore, Malaysia, Indonesia, United States and soon, Brunei and Egypt.

Featured Image Credit: Union Gas / Singapore Business Review / Aastocks / Eggriculture / Value Invest Asia / Halal Ke

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