Three Singapore-based companies were among the highest-earning companies globally last year, according to Fortune magazine’s annual Global 500 list announced this week. The three companies independent oil trader Trafigura Group, agribusiness giant Wilmar International and electronics manufacturer Flextronics Manufacturing made last year’s list as well. The Fortune Global 500, which is published annually, ranks companies based on operating revenue.
Trafigura, which was founded in 1993 and shifted its headquarters to Singapore in 2015, earned US$180.7 billion (S$247.5 billion) in revenue and made US$849.2 million in profit over the last fiscal year. The company, which has more than 4,300 employees, jumped 10 places to rank 22 in this year’s list on the back of a 32.5 per cent increase in revenue and a 0.2 per cent growth in profits. Trafigura trades in commodities such as crude oil, gasoline, liquefied natural gas and metals, and more than 50 per cent of its employees here are Singaporeans or Singapore permanent residents. Food giant Wilmar, which has made the Global 500 list for 11 years, earned US$44.5 billion in revenue and US$1.1 billion in profits last year. Although its profits were the highest among the Singaporean firms which made the list, it was a 7.5 per cent fall from the previous year as Wilmar slid 10 places to 258 in the list.
One of the world’s largest palm oil processors, Wilmar came out tops among Singapore companies in a ranking for human rights disclosure announced earlier this year.
Chinese listed internet companies value reach 9.75tr yuan
BEIJING: The total market value of China’s listed internet companies was 9.75 trillion yuan (about 1.41 trillion U.S. dollars) by the end of June, a quarter-on-quarter decline of 4.3 percent, according to a report released by the China Academy of Information and Communications Technology.
Companies listed in the United States, Hong Kong and the Chinese mainland accounted for 52 percent, 38 percent and 10 percent of the total value, respectively. Hong Kong-listed companies rose 1.4 percent from the first quarter, while U.S. listed and the Chinese mainland listed companies fell 6.4 percent and 13.2 percent respectively. In the first quarter of this year, the total revenues of China’s listed internet companies was 520.44 billion yuan, up 24 percent over the previous quarter.