[This is the first instalment of Vulcan Post’s three-part SG60 series, where we shine the spotlight on 60 homegrown businesses that have shaped Singapore.]
As Singapore celebrates its 60th year of independence, Vulcan Post is launching a special three-part SG60 series spotlighting 60 homegrown businesses that have helped shape the nation’s economic landscape.
Of course, no single list can fully capture the breadth and depth of Singapore’s thriving business scene—but these are some of the names that have stood the test of time, made their mark across industries, and become part of the everyday lives of Singaporeans.
Some of them even predate the country’s independence, standing as living legacies of our entrepreneurial spirit. We’ve listed them in order of their founding, starting with the oldest, so without further ado, here is the first part of our series:
1. Kwong Cheong Thye (1892)
From home cooks to top restaurants, Kwong Cheong Thye has become a staple in kitchens across Singapore—and beyond.
Its roots can be traced back to 1892, when Chinese immigrant Choo Cheong Chan left his hometown, Jiangmen in Guangdong province, and came here for better opportunities. He set up Kwong Cheong Thye in Jalan Sultan, where the company produced soya sauce for food suppliers.
Today, the business is run by its fifth-generation owners, with brothers Alvin and Allan Choo at the helm, brewing the same traditional six-month fermented sauce out of its Senoko Avenue facility.
To meet growing demand, a second facility at Senoko Crescent is currently underway, dedicated solely to soy sauce. The existing plant will pivot to producing the brand’s expanding range of sauces, including oyster, chicken rice, and chilli crab sauces.
According to the Straits Times, about 80% of Kwong Cheong Thye’s business comes from supplying to the F&B trade, with half of its products exported to global markets like Australia, China, Japan, the UK, and the UAE. Beyond sauces, the company also owns My Noodle, a noodle brand, and even produces mooncake paste.
2. The Shaw Organisation (1924)
Shaw Organisation has been a major player in the Asian film industry since the 1920s and is involved in film production, distribution and exhibition. With studios in Shanghai, Singapore, Malaysia and Hong Kong, it was a pioneer in these countries’ film industries.
The company was started up in Singapore by Runme Shaw in 1924, who initially ran a film company which produced silent films with his brothers in Shanghai. He was joined by his brother, Run Run Shaw, two years later.
At first, the brothers struggled to establish a presence in Singapore, but the business soon took off with the introduction of “talking films” (films with sound), and they eventually gained control of the distribution of films in not just Singapore, but also Southeast Asia.
By the 80s, the Shaw Organisation had established over 160 theatres across Southeast Asia. It had also invested in commercial properties, such as the Shaw House—the company’s largest project to date—as well as residential properties, Twin Heights and Hullets Rise.
However, the post-pandemic era has proven challenging for cinema operators, and Shaw Organisation has not been spared. It currently operates seven cinema outlets in Singapore, following the closure of its Seletar Mall location in December 2024.
3. Popular Holdings (1924)
Originally known as Cheng Hing Company, Popular Holdings was founded in 1924 by Chou Sing Chu, an immigrant from Zhejiang, China, who came to Singapore to seek his fortunes after becoming an apprentice to relatives in the book trade.
Initially, it focused on selling Chinese language books and magazines, and merged with literary giant World Book Company in 1935, becoming Singapore’s top Chinese book retailer.
Over the decades, Popular expanded its operations to include publishing, distribution, and retail across various regions and languages, becoming a major player in the book industry in Singapore, Malaysia, and Hong Kong.
In Singapore, it has become a staple entity to many, with its wide range of literature and assessment books.
Popular was listed on the Singapore Exchange in 1997. However, they have since privatised their businesses and delisted on May 5, 2015. In 2023, the company was acquired by Hong Kong investment company ZQ Capital for an undisclosed sum.
4. Leung Kai Fook Medical Co (1928)
Leung Kai Fook Medical Co (LKF Medical) is the parent company behind the iconic topical medicated oil, Axe Brand Universal Oil.
The company was started up in 1928, when Leung Yun Chee emigrated from China to Singapore. Shortly after his move to Singapore, Yun Chee met a German physician, Dr Schmeidler, who shared his recipe for a medicated oil to cure all kinds of discomfort, suited to the island’s tropical weather.
Impressed by the formulation of the medical oil, Yun Chee began selling it; however, the initial response was underwhelming—it faced stiff competition from competing brands from China and Hong Kong, as international trade was beginning to pick up in Singapore.
Only during WWII, about a decade after its launch, the brand was given a boost as overseas trade ceased and competition from abroad was curtailed. As a result, Axe Brand Universal Oil became the go-to brand for Singaporean households, establishing itself as the leader in medicated oils.
In the 50s, the company set its sights on overseas expansion, beyond the Asian markets. It first forayed into Saudi Arabia, as the medicated oil was popularised by pilgrims who adopted the oil on their way to the Hajj. Today, the cure-all oil is now used by people in more than 50 countries around the world, even by villagers in Kenya.
5. Sunshine Bakeries (1930)
Founded in 1930 as a small, family-run bakery in Geylang, Sunshine Bakeries has established itself as a leading manufacturer of baked products.
It’s known to be the nation’s first commercial bakery. In its early years, Sunshine Bakeries was acquired by Cold Storage, which helped scale up distribution across Singapore and Malaysia.
While little is publicly documented about its founding story, what stands out is its continued drive to stay ahead of the curve.
It was an early adopter of health-focused innovations, fortifying its bread with vitamins as far back as the 1940s, and later modernised its packaging by switching from wax paper to plastic, improving both hygiene and shelf life in the 1980s.
By 1992, Sunshine Bakeries relocated to its current Senoko plant, ramping up production and becoming one of the largest baking facilities in Asia at the time, capable of churning out a whopping 6,000 loaves an hour.
6. Yeo Hiap Seng (1935)
Though widely recognised today for its beverages, Yeo Hiap Seng (Yeo’s) actually began as a humble soy sauce business.
It was founded in 1901 by Yeo Keng Lian, a native of Zhangzhou in Fujian, China, who started the Yeo Hiap Seng Sauce Factory to produce traditional sauces like soy sauce and oyster sauce.
He then immigrated to Singapore in the 1930s, where he re-established the Yeo Hiap Seng Sauce Factory in 1935 and expanded its product line, becoming a well-known brand for Asian beverages and canned goods.
In fact, the brand was the first to offer canned curry chicken to consumers. It was also the first in the world to offer bottled Soya Bean Milk and Chrysanthemum Tea, making it convenient and readily available for mass consumption.
By the 1940s, Yeo Hiap Seng was producing up to 12,000 bottles of sauces and 20,000 cans of food daily—serving not only Singaporeans and Malaysians, but also residents of Borneo, Sarawak, New Guinea, Australia, the United States and the United Kingdom, as well as American soldiers during the Vietnam War.
Unbeknownst to most people, Yeo Hiap Seng also ventured into the real estate space in the 90s. This was because the company was acquired by Singaporean real estate tycoon Ng Teng Fong in 1995, who spearheaded the company’s private housing projects such as GardenVista and The Sterling.
7. Ya Kun Kaya Toast (1944)
Ya Kun Kaya Toast, a household name in Singapore and a beloved breakfast spot for locals and tourists alike, has a rich history.
Its origins can be traced back to Loi Ah Koon (‘Ya Kun’ is the hanyu pinyin equivalent of ‘Ah Koon’), a young Chinese immigrant who arrived in Singapore in 1926 at the tender age of 15.
He worked as an assistant in a Hainanese coffee stall and eventually started his own coffee stall business in the 1940s, laying the foundation for what would become the Ya Kun Kaya Toast chain. As of 2024, it boasts 83 outlets locally, with overseas franchises in markets such as China, Dubai, Myanmar, Philippines and more.
8. Old Chang Kee (1956)
Old Chang Kee began in 1956 as a small, humble curry puff stall at Koek Road.
Opened by Chang Chuan Boon, an immigrant from Hainan, it had set up shop in several other locations over the years before moving near the Rex Cinema on Mackenzie Road, where its curry puffs grew in popularity and earned the nickname “Rex curry puffs.”
When Chang decided to retire to Hainan in 1986, Han Keen Juan purchased the business and swiftly introduced a central kitchen, standardised processes, and modern branding to scale its operations.
Under Han and later his nephew William Lim, the company expanded from a handful of outlets to dozens—launching overseas franchises in the 1990s and relaunching with stricter quality controls in the 2000s.
Today, Old Chang Kee is a publicly listed Singaporean snack chain with over 100 outlets in Singapore and markets including Malaysia, Indonesia, Australia, and the UK.
9. Far East Flora (1965)
With roots dating back to 1965, Far East Flora has grown from a humble family business into one of Singapore’s leading floriculture companies.
It was founded by Danny Cheok and his two brothers, who initially started off by selling fresh flowers and eggs across Singapore from a small van, before formally establishing the business in 1965.
The company then rose to become a wholesaler of fresh-cut flowers, subsequently opening its first retail store for flowers and gifts at Bukit Timah Plaza in 1978.
Under second-generation leadership in the 2000s, Far East Flora expanded its reach through e-commerce and diversified into corporate plant rental and event floristry services.
Since then, Far East Flora has seen rapid growth and has opened various retail locations across Singapore. One of its biggest milestones was establishing an 11-storey floral-themed shopping mall at Clementi back in 2023, selling over 1,000 types of flowers and more than 500 plants.
10. Camel nuts (1974)
Founded in 1972 by Poh Ah Seng and his wife Ong Siew Hua, Camel Nuts began as a small nut-roasting operation in the courtyard of their humble terrace home.
As demand grew, the business expanded into a proper flatted factory in Tampines and, eventually, a 10,000 sqm facility in the early 1990s to scale production.
Over the decades, Camel Nuts grew to become Singapore’s largest and only nut manufacturer, producing more than 40 product lines including peanuts, cashews, and almonds, and retails in over 20 countries. Today, the founders’ daughter, Poh Shih Yin, is the second-generation leader of Camel Nuts.
11. Osim (1979)
For years, OSIM has been a household name in Asia, known for its luxury massage chairs. The brand has a widespread retail network of over 400 stores around the world, including Singapore, Taiwan, China, Malaysia, Indonesia, the US and more.
The man behind the company is Ron Sim, who has an estimated net worth of US$1.6 billion and is currently the 30th richest man in Singapore.
But Ron was born into a family of modest means, spending his childhood taking up menial jobs. Graduating with only an O-level certificate, he launched a household goods business immediately after completing National Service in 1979.
After several pivots, the business rebranded as OSIM in 1990 and went public 10 years later. However, in 2016, Ron took the company private and established V3 Group, positioning OSIM as one of several key brands under a broader lifestyle and wellness umbrella.
The group’s portfolio includes supplement label LAC, luxury tea and coffee houses TWG Tea and Bacha Coffee, Moroccan fine-dining restaurant Le Cabestan, and store fixtures specialist Futuristic. V3 Group is also a shareholder in homegrown dessert brands like Cat & The Fiddle and Old Seng Choong.
12. Bengawan solo (1979)
In 1975, a couple of years after Anastasia Tjendri-Liew moved to Singapore from Indonesia, she decided to start baking butter and chiffon cakes and kueh lapis (an Indonesian layered cake) at her four-room flat in Marine Parade.
She sold these cakes to friends and acquaintances, and the popularity of her confections grew through word of mouth. At the height of demand, she was even supplying her creations to supermarkets and shops.
However, since she was operating without a valid food manufacturing license, Anastasia was instructed by the Ministry of Health in 1979 to shut down the business. Despite that, the demand still persisted, and she opened her first store in Marine Terrace a few months later, naming it “Bengawan Solo” after a popular Indonesian folk song.
After mainstream fanfare was boosted by a glowing newspaper review, Anastasia eventually opened a second outlet at Centrepoint shopping centre on Orchard Road in 1983. Today, the brand has grown significantly, with over 40 outlets spread across Singapore.
13. Creative Technology (1981)
Starting out as a small computer repair shop in Chinatown back in 1981, Creative Technology was a pioneer in the personal computer audio sector and eventually grew into a multibillion-dollar tech giant.
The company was founded by the late Sim Wong Hoo, together with his childhood friend Ng Kai Wa. Back then, the duo’s first project was a multilingual computer with sound and music capabilities, but it was not successful due to a lack of demand and third-party support.
In 1988, Sim established an office in the United States and began selling the standalone Sound Blaster sound card, which quickly gained popularity in the gaming industry and led to the success of Creative Technology.
Four years later, in 1992, the company became the first Singaporean company to be listed on the US Nasdaq stock exchange, and by 2000, Sim was named Singapore’s youngest billionaire at the age of 45.
In addition to the Sound Blaster, Creative Technology has also released a range of other audio products, including headphones, speakers, and portable music players. These products have won numerous awards and accolades for their design and performance, and have helped establish Creative Technology as a trusted and respected brand in the audio industry.
Today, Creative has global offices in Shanghai, Tokyo, Dublin, and Silicon Valley, and last year, it raked in sales of US$62.8 million.
14. Sheng Shiong Group (1985)
Sheng Shiong Group is the third largest supermarket chain in Singapore, run by the Lim family since 1985.
The company’s business journey is a rags-to-riches story. Lim Hock Chee, the company’s CEO, is the son of a pig farmer, and he started off running a small stall selling pork alongside his wife.
At the height of the business, the family had 3,000 pigs and lived on a sprawling 90,000 square-foot farm. But at one point in time, the farm was facing an “over-supply,” so Lim and his wife rented a stall at one of the now-defunct supermarket chain stores in Ang Mo Kio to sell chilled pork.
Just when the couple managed to clear the excess stock, the owner of the supermarket chain ran into some financial problems and had to put up some stores for sale. Seizing the opportunity to venture into the retail space, Lim and his brothers took the plunge by taking over the Ang Mo Kio supermarket and turning it into the first Sheng Siong store.
Today, his family operates a chain of over 80 supermarkets in Singapore. Sheng Siong has also expanded internationally, with five stores in Kunming, China.
15. JUMBO seafood (1987)
When it comes to fresh and delicious seafood, JUMBO Seafood is one of the brands that instantly comes to mind.
Started by a group of friends “for the love of eating and seafood,” its first outlet opened at the East Coast Seafood Centre in 1987. The brand soon gained a loyal following and garnered a reputation for serving only the freshest catch, with iconic dishes such as the Chilli Crab and Black Pepper Crab on their menu.
At the back of domestic success, JUMBO Seafood took a shot overseas and opened its first international restaurant in Indonesia in 1995. However, it flopped due to the brand’s inexperience in opening branches overseas.
It took JUMBO Seafood almost two decades before venturing overseas again—this time to Shanghai—marking a significant step in its international expansion. The move was made in partnership with BreadTalk Group, which took a 30% stake in the joint venture.
According to the company’s website, it currently operates 16 international outlets alongside seven in Singapore. In addition to its chain of JUMBO Seafood restaurants, it has diversified into other brands, including NG AH SIO Bak Kut Teh.
16. Teo Heng KTV Studio (1989)
Founded in 1989, Teo Heng KTV Studio has been around for over 30 years and has established itself as an affordable family-style karaoke studio in Singapore.
It is also very much a family business—founder Jackson Teo runs it alongside his siblings, who have been involved in the business since day one.
Jackson’s journey began at Katong Shopping Centre, where he sold audio-visual equipment and noticed a growing interest in karaoke among young customers.
Seeing the opportunity, he rented a unit on the mall’s first floor and launched the very first Teo Heng KTV Studio—laying the foundation for what would become a beloved homegrown brand.
For the past three decades, Teo Heng has experienced its fair share of highs and lows, but the COVID-19 pandemic marked its biggest crisis to date. The business has weathered the storm, though, and now has 13 outlets in operation.
17. Zouk Group (1991)
Zouk was founded by entrepreneur Lincoln Cheng in 1991, who set the stage and the standard for the nightclub scene in Singapore and the world.
Captivated by the house music scene in Ibiza, Spain, having travelled often in his younger days, and fuelled by a deep passion for music, Cheng wanted to bring that same energy and culture to Singapore.
Under his leadership, Cheng took the nightclub scene to new heights and championed contemporary electronic dance music to the mainstream audience. By 1995, Zouk was hosting up to 10,000 people on the weekends.
The brand expanded regionally in 2004 with the launch of Zouk KL, and has since grown internationally with venues in Las Vegas and Tokyo.
In 2015, Cheng sold the brand to Genting Hong Kong, which offloaded the business to Malaysian firm Tulipa for S$14 million in 2020.
Today, Zouk Group is helmed by CEO Andrew Li, and has evolved beyond nightlife—venturing into the F&B space with lifestyle and dining concepts such as Five Guys (in Singapore and Malaysia) and the speakeasy-style bar Here Kitty Kitty, with locations in Singapore and Los Angeles.
18. Banyan Tree Hotels & Resorts (1994)
Typically, a successful business story goes like this: They make waves in their home ground, before breaking barriers and going overseas to grow their global footprint.
But not for Banyan Tree Hotels & Resorts. Now a globally recognised name in the hospitality and spa industry, the brand boasts over 70 hotels and resorts, more than 60 spas and galleries, and 14 branded residences across more than 20 countries.
Yet its origins trace back not to Singapore, but to a remote stretch of coastal land in Phuket, Thailand—once a barren, disused tin mine—where a Singaporean couple, Ho Kwon Ping and Claire Chiang, saw potential in 1984.
However, the land was far from ideal—it was acid-laden and unsuitable for development. Undeterred, the couple undertook an ambitious rehabilitation project to restore the ecosystem.
A decade later, their efforts bore fruit when the first Banyan Tree resort officially opened its doors in 1994. And since then, the company has expanded exponentially.
19. Charles & Keith (1996)
With roots dating back to 1996, Charles & Keith was founded by brothers Charles and Keith Wong, starting out as a modest footwear store in Singapore’s Amara Shopping Centre.
Driven by a vision to offer stylish yet affordable shoes for women, the brand quickly gained traction for its trendy designs. Just two years in, it opened its first overseas outlet in Jakarta, Indonesia.
Since then, Charles & Keith has grown into a full-fledged fashion label, expanding its range to include bags, accessories, and lifestyle products. The company also launched Pedro, a sister brand offering contemporary footwear and accessories for both men and women.
Today, Charles & Keith and Pedro collectively operate over 700 stores worldwide, cementing their position as global fashion powerhouses.
20. Awfully Chocolate (1998)
Mention Awfully Chocolate and Singaporeans will immediately think of the brand’s decadent chocolate cakes.
It was started in 1998 by ex-lawyer Lyn Lee, after being unable to find the “ultimate chocolate cake,” she left her profession to open her own cake shop.
According to its website, the brand now has 11 outlets in Singapore.
While all its local stores are company-owned, the brand has embraced franchising in overseas markets such as China. There, its first international franchise opened in Shanghai in 2007, and the chocolatier has since expanded to major cities including Beijing and Guangzhou.
Awfully Chocolate also has a subsidiary, Sinpopo Brand, which was started in 2013 as an “ode to Katong” and to preserve the neighbourhood.
- Read other articles we’ve written on Singaporean businesses here.
Featured Image Credit: DR Chua Yang/ Tatler, WONG YR/ Shutterstock.com, Teo Heng, Awfully Chocolate