The Productivity and Standards Board in Singapore (PSB) has released a ranking of 500 top Small- and Medium-Enterprises operating in the country. Positioned to complement the now-established Singapore 1000 biennial guide to the top corporations, the Singapore SME 500 1999/2000 guide zooms in on a sector which constitutes more than 90 percent of total establishments in business.
According to PSB chief executive Lee Suan Hiang, SMEs provide two thirds of the employment in the country, and half the total value added. The onslaught of e-commerce means that such companies, ready or not, will soon have to compete in borderless economies and establish a regional if not international presence. Both the Singapore SME 500 and Singapore 1000 are expected to serve as a quick reference for businesses in search of alliances and other purposes.
Infocomm companies figure prominently in the top 50 spots on the Singapore 1000 list:
- Hewlett-Packard Singapore ranked 2nd by sales/turnover (S$9,788m);
- Singapore Telecommunications Limited is ranked 12th (S$4,883m);
- Texas Instruments Singapore is at 26th place ($3,429m);
- followed closely by HP Far East at the 27th spot ($3,327m);
- Compaq Asia came in at 28 with $3,265m;
- Hard drive manufacturers Maxtor and Western Digital took 23rd ($3,673m) and 39th position ($2,572m) respectively;
- Memory chip manufacturer Infineon Technologies grabbed 44th position with $2,339m; and
- Creative Technology took 49th place at $2,092m.