3 Tech Firms Among Region's Fastest Growing

3 tech firms among region's fastest growing

Amit Roy Choudhury

497 words

7 December 2007

Business Times Singapore

English

Elixir Tech, Sunpower Group and MediaRing Ltd named as top 500 growing companies

IN A sign that the Republic has retained its edge as a technology hub, three lesser-known Singapore-based entities have made it to the list of Asia-Pacific's 500 fastest growing technology companies, it was announced yesterday at the Deloitte Technology Fast 500 Asia-Pacific ceremony in Hong Kong.

The three companies are Elixir Technology Pte Ltd, Sunpower Group Ltd, and MediaRing Ltd.

The overall winner this year is Trina Solar Ltd, a Chinese solar energy equipment supplier, which saw more than 27,500 per cent growth in revenue from 2004 to 2007, the highest since the rankings started in 2002.

Elixir Technology, which is in the software industry, saw a more modest 163.86 per cent growth over three years and was ranked overall at 323.

Sunpower Group, which makes energy-saving and environmental protection products, saw a 130 per cent growth during the period and was ranked 395.

MediaRing, which is in the communications and networking business, grew 125.48 per cent over the three-year period and was ranked 409 this year.

Shariq Barmaky, Deloitte Singapore's technology, media and telecommunications industry leader said: 'It's commendable that MediaRing Ltd has been ranked in the Deloitte Technology Fast 500 programme for consecutive years since the inception of the award in 2002 and that Sunpower Group has been ranked once again. This shows that both companies have been achieving consistent growth in the past few years.'

On the overall rankings, Mr Barmaky noted that the rankings and performances of Asia's fastest growing tech companies are outstanding. 'Growth in the region is at its highest point since we started the rankings in 2002.'

He added that the top five companies recorded growth rates ranging from 9,409 per cent to 27,542 per cent for the winner. 'The growth rate of the top five companies has more than doubled over 2006 figures.'

Mr Barmaky added that the three-year average revenue growth for all 500 companies is a significant increase from 399 per cent in 2006 to a notable 540 per cent in 2007, a 141 per cent growth from last year's figures.

The top-performing sector in 2007 is software with 129 fast-growing software companies making the rankings. The semiconductor, components and electronics, and communications and networking sectors are gradually catching up, with 120 and 83 ranked companies respectively.

'The survey clearly indicated that confidence among Asia-Pacific's fast-growing company CEOs has reached a record high - and 90 per cent of CEOs are either very or extremely confident of sustaining growth over the next two years,' Mr Barmaky said.

CEOs in Asia-Pacific indicated that they have chosen to focus internally on 'organic growth' (47.6 per cent) comprising product innovation, customisation and the perfecting of new technologies, to maintain company growth in 2008.