LANXESS, Imperial Treasure among Singapore's fastest-growing firms
- POSTED: 19 Aug 2014 14:48
Sales of German chemical giant LANXESS’ local unit rose by an average 6,246.8 per cent per annum in the last three years, according to DP Information Group.
SINGAPORE: The Singapore unit of German chemical giant LANXESS was the fastest growing firm in the city-state last year, with sales rising from just a few thousand dollars in 2010 to more than S$1.6 billion in 2013, according to DP Information Group.
DP Information, a credit and business information bureau, compiles a list of Singapore's 50 fastest growing companies annually based on their three-year compounded annual growth rate (CAGR).
Companies that make DP Information's FG50 list must also achieve a minimum of 10 per cent revenue growth during the three years while remaining profitable each year.
In the case of LANXESS, its three-year CAGR of 6,246.8 per cent was helped by phenomenal sales growth since the opening of a new butyl rubber plant on Jurong Island last year, DP Information said in a statement on Tuesday (Aug 19).
Other companies in the FG50 list include investment firm Dymon Asia Capital (Singapore), whose revenue grew by an average of 214.3 per cent per annum in the last three years, Apple South Asia (161.7 per cent), UNIQLO (Singapore) (129.6 per cent), logistics firm CWT Ltd (105.3 per cent) and Imperial Treasure Cantonese Cuisine (76.6 per cent).