Singapore, a global financial and trade hub, is home to some of the world’s largest corporations across industries such as banking, energy, telecommunications, and shipping. These companies not only dominate the domestic market but also have significant international operations.
Here are the top 10 largest companies in Singapore by revenue as of 2024, based on their latest financial reports.
1. Trafigura Group
Industry: Commodity Trading
Revenue (2023): ~$318 billion
Key Facts:
- One of the world’s largest commodity traders, specializing in oil, metals, and minerals.
- Operates in over 50 countries with a strong presence in energy and logistics.
2. Wilmar International
Industry: Agribusiness & Food Processing
Revenue (2023): ~$73 billion
Key Facts:
- Asia’s leading agribusiness group, specializing in palm oil, sugar, and consumer goods.
- Owns brands like “Fortune” cooking oil and “Meadows” food products.
3. DBS Group Holdings
Industry: Banking & Financial Services
Revenue (2023): ~$18.5 billion
Key Facts:
- Southeast Asia’s largest bank by assets.
- Strong digital banking presence across Asia.
4. Olam Group
Industry: Agri-Commodities & Food Ingredients
Revenue (2023): ~$47 billion
Key Facts:
- Major global supplier of cocoa, coffee, and grains.
- Recently restructured into two listed entities: Olam Agri and Olam Food Ingredients.
5. Singapore Telecommunications (Singtel)
Industry: Telecommunications
Revenue (2023): ~$15 billion
Key Facts:
- Largest telecom provider in Singapore.
- Owns Optus (Australia) and has investments across Asia.
6. Keppel Corporation
Industry: Conglomerate (Energy, Infrastructure, Real Estate)
Revenue (2023): ~$10 billion
Key Facts:
- Diversified business with offshore & marine, property, and clean energy divisions.
- Expanding into renewable energy and data centers.
7. Jardine Matheson Holdings
Industry: Conglomerate (Retail, Property, Automotive)
Revenue (2023): ~$38 billion
Key Facts:
- Controls major businesses like Dairy Farm, Mandarin Oriental, and Astra International.
- Operates across Asia with deep roots in Hong Kong and Southeast Asia.
8. OCBC Bank (Oversea-Chinese Banking Corporation)
Industry: Banking & Financial Services
Revenue (2023): ~$13.5 billion
Key Facts:
- Second-largest bank in Singapore.
- Strong wealth management and insurance divisions.
9. United Overseas Bank (UOB)
Industry: Banking & Financial Services
Revenue (2023): ~$12.8 billion
Key Facts:
- Major player in ASEAN banking with growing digital services.
- Expanding into sustainable finance.
10. Flex (Flextronics International)
Industry: Electronics Manufacturing
Revenue (2023): ~$30 billion
Key Facts:
- Global leader in electronics supply chain solutions.
- Supplies tech giants like Apple, Microsoft, and Cisco.
Key Trends Among Singapore’s Largest Companies
- Commodity Trading Dominance – Firms like Trafigura and Wilmar lead due to Singapore’s role as a global trade hub.
- Banking Powerhouses – DBS, OCBC, and UOB remain financial giants in Asia.
- Expansion into Sustainability – Companies like Keppel and Olam are investing in green energy and sustainable agriculture.
- Tech & Digital Growth – Singtel and Flex drive innovation in telecom and electronics.
Conclusion
Singapore’s largest companies reflect its position as a global business and financial center. From commodity traders to banking giants, these corporations play a crucial role in both the local and global economy.
