Six Singapore-based companies, including a surgical glove manufacturer and a mobile games developer, have been included in Forbes Asia’s Best Under a Billion list. This list recognizes the top 200 publicly listed companies in the Asia Pacific region with sales of less than US$1 billion. The companies on the list have shown strong long-term performance, with healthcare and pharmaceutical companies standing out due to the pandemic.
Technology and logistics firms also benefited from the global e-commerce boom. The list is based on the companies’ full-year annual results, considering factors such as debt, sales, earnings per share growth, and average returns on equity. Companies with governance issues, questionable accounting, environmental concerns, or legal and management troubles are excluded. The inclusion of these Singapore-based companies reflects their ability to cope well during the global pandemic.
Among them is Samurai 2K Aerosol, a Malaysian maker of automotive aerosol paints and coating sprays that is headquartered in Singapore, was founded in 1997 and has been listed on the SGX Catalist since its initial public offering in 2017.
It reported a net profit of RM17.5 million (S$5.65 million) in the 2021 financial year ending on March 31, which was a 244 per cent increase from the previous year.