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The Straits Times Fastest Growing Companies 2020 survey kicks off second year search to identify top growth champions in Singapore

Singapore, 23 May 2019 - The Straits Times, aided by Germany-based global research company Statista, uncovered many growth champions among many Singapore companies who participated in the first survey to identify Singapore’s fastest growing companies in 2019.

These 85 growth champions achieved exceptional annual revenue growth that enabled their companies to expand their business in just four years. The majority of these companies are privately run small and medium-sized companies.

To even make the cut, companies must have reported revenues of at least $150,000 in 2014 and $1.5 million in 2017, excluding any investment or fund injection. All submissions must be verified by the companies' top executives. The results however showed that not only all the companies exceeded this minimum benchmark easily, some even produced an astounding revenue growth of more than 4,000 per cent between 2014 and 2017, with many of them also achieving four-digit annual growth within this period as well.

Overall, the average compound annual growth (CAGR) of Singapore’s fastest-growing companies is 49 per cent. A number that is very impressive according to the project leader from Statista, Mr Thomas Clark. He said: “Everybody who runs a company knows exactly what it means to record an average sales increase of almost 50 per cent year by year over several years. It’s an achievement that deserves respect and applause.”   

A variety of companies from different business industries made the list. This includes industries as varied as tech, renewable energy, recycling, medical treatment, children’s education, food, consulting, finance or marketing.

On the start of The Straits Times Fastest Growing Companies 2020 survey to uncover Singapore’s growth champions, Mr Warren Fernandez, the editor-in-chief of Singapore Press Holdings’ English, Malay and Tamil Media Group and editor of The Straits Times, said:  “Last year, ST and Statista were stringent in our selection of the 85 companies picked for the inaugural list of fastest growing companies. Response to the first survey was very good, and we hope to uncover even more of such companies this year. We are happy to partner again with Statista for this project to seek out companies with inspiring growth stories which we could profile. Their stories will offer useful insights to others that are seeking to grow, which will be especially relevant amid the economic uncertainties that lie ahead."

During the research period for the 2020 survey, Statista’s analysts will study over a thousand companies, including companies that register online by 31 July 2019. Submitted data must be checked and confirmed personally by the CFO or CEO of the given company. The metric for determining the ranking will be revenue growth in the years from 2015 - 2018. The list also has to comprise data on jobs growth and additional information.

Dr Friedrich Schwandt, CEO and Founder of Statista, said: “We were very happy with the outcome of our first installment of Singapore’s Fastest-Growing Companies and are confident that the response rate will be even better this year. This, and having recently opened an office in Raffles Place, will certainly strengthen our position in the Asian market." The Hamburg-based company with offices from New York and London to, now, Singapore, has done many research projects with renowned media companies around the world, from Forbes to the Financial Times.

For more information, check the interactive table at

You can also find some profiles on the winners and industry stories of the 2019 growth champions at

To register for the Singapore’s Fastest Growing Companies 2020 survey, companies can visit

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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 multimedia coverage of local, regional and world news, provided by its correspondents in 12 bureaus in major cities worldwide.

Launched on July 15, 1845, The Straits Times has been moving with the times in its efforts to engage and grow its audience and exploring innovative ways of story telling, as well as continuously refreshing its products to maintain quality and stay relevant to the changing needs of its readers. Its integrated newsroom operates round-the-clock, providing content as it happens on all platforms, from its website at, 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. Its multimedia newsroom and innovative projects were recognised at the annual regional WAN-IFRA event in Hong Kong in November 2018 when it emerged the biggest winner, sweeping nine Asian Digital Media awards, including two golds for best innovation to engage youth audience, and best lifestyle, sports, entertainment website.