In the vibrant economic landscape of Singapore, a handful of companies stand out not only for their substantial market share but also for their impressive revenue, profitability, and employee count. We will look at the top ten largest companies in Singapore, providing insight into their market dynamics, leadership, services, products, historical context, and future growth projections for 2025.
1. DBS Bank
DBS Bank, a leading financial services group in Asia, is recognized as the largest bank in Singapore by assets and market capitalization. Established in 1968, DBS has evolved from a development bank into a full-service bank, offering a comprehensive range of financial services including consumer banking, wealth management, and institutional banking. As of 2023, DBS reported a staggering revenue of approximately SGD 17.4 billion, with a net profit of SGD 6.8 billion, showcasing its robust financial health.
The bank employs over 28,000 people and has a strong digital presence, which has significantly contributed to its growth. Under the leadership of Piyush Gupta, who has been at the helm since 2009, DBS has embraced digital transformation, positioning itself as a leader in innovation within the banking sector. Looking ahead to 2025, DBS is projected to continue its growth trajectory, driven by increasing demand for digital banking solutions and a focus on sustainable finance.
2. Singapore Telecommunications (Singtel)
Singapore Telecommunications, commonly known as Singtel, is a telecommunications conglomerate that has established itself as a key player in the region. Founded in 1879, Singtel has expanded its services beyond traditional telephony to include mobile, broadband, and digital solutions. The company generated revenue of approximately SGD 16.5 billion in 2023, with a net profit of SGD 3.8 billion.
Employing around 23,000 individuals, Singtel is known for its commitment to innovation and customer service. The leadership of Chua Sock Koong, who has been CEO since 2015, has been pivotal in steering the company towards digital transformation and strategic partnerships, particularly in the areas of cybersecurity and digital marketing. As the company looks towards 2025, it aims to enhance its digital offerings and expand its footprint in the Asia-Pacific region, capitalizing on the growing demand for digital connectivity.
3. Keppel Corporation
Keppel Corporation is a diversified multinational company with interests in offshore and marine, property, infrastructure, and investment. Founded in 1968, Keppel has built a reputation for excellence in the offshore and marine sector, particularly in rig building and repair. In 2023, the company reported a revenue of SGD 6.4 billion and a net profit of SGD 1.1 billion.
With a workforce of approximately 20,000 employees, Keppel is led by CEO Loh Chin Hua, who has been instrumental in driving the company's strategic initiatives and sustainability efforts. The corporation is focusing on renewable energy and smart city solutions as part of its growth strategy. By 2025, Keppel aims to enhance its position in the green economy, aligning its business model with global sustainability trends.
4. CapitaLand
CapitaLand is one of Asia's largest diversified real estate groups, with a portfolio that spans across residential, commercial, and retail properties. Established in 2000, the company has grown significantly, reporting a revenue of SGD 4.5 billion and a net profit of SGD 1.2 billion in 2023.
Employing around 10,000 staff, CapitaLand is known for its innovative approach to real estate development. Under the leadership of CEO Lee Chee Koon, the company has embraced sustainability and smart technology in its projects. As it looks toward 2025, CapitaLand is expected to continue its expansion in key Asian markets, focusing on integrated developments and sustainable urban solutions.
5. SIA Engineering Company
SIA Engineering Company, a subsidiary of Singapore Airlines, is a leading provider of aircraft maintenance, repair, and overhaul (MRO) services. Founded in 1947, the company has established itself as a global player in the aviation industry, reporting a revenue of SGD 1.5 billion and a net profit of SGD 300 million in 2023.
With a workforce of approximately 5,500 employees, SIA Engineering is recognized for its technical expertise and commitment to safety and quality. The leadership under CEO C. K. Ng has focused on expanding the company's capabilities and enhancing service offerings. By 2025, SIA Engineering aims to leverage advancements in technology and digitalization to improve operational efficiency and customer service.
Top 10 Largest Companies in Singapore
6. Wilmar International
Wilmar International is one of Asia's leading agribusiness groups, involved in the processing and trading of a wide range of agricultural products. Established in 1991, Wilmar has grown to become a major player in the global food supply chain, reporting a revenue of SGD 60 billion and a net profit of SGD 1.2 billion in 2023.
Employing over 90,000 people worldwide, Wilmar is led by CEO Kuok Khoon Hong, who has been pivotal in driving the company's growth through strategic acquisitions and partnerships. As the company looks toward 2025, it is projected to expand its market presence in Africa and the Middle East, focusing on sustainable sourcing and production practices.
7. OCBC Bank
Oversea-Chinese Banking Corporation (OCBC) is one of the largest banks in Singapore, providing a wide range of financial services including retail banking, insurance, and wealth management. Founded in 1932, OCBC reported a revenue of SGD 8.3 billion and a net profit of SGD 4.1 billion in 2023.
With a workforce of around 28,000 employees, OCBC is led by CEO Helen Wong, who has emphasized the importance of digital innovation and customer-centric services. Looking ahead to 2025, OCBC aims to enhance its digital banking capabilities and expand its presence in Southeast Asia, capitalizing on the region's growing middle class.
8. Singapore Airlines
Singapore Airlines, renowned for its exceptional service and quality, is a major player in the global aviation industry. Founded in 1947, the airline has consistently ranked among the best in the world, reporting a revenue of SGD 16 billion and a net profit of SGD 1.2 billion in 2023.
Employing over 13,000 staff, Singapore Airlines is led by CEO Goh Choon Phong, who has focused on enhancing the customer experience and expanding the airline's network. As the airline industry recovers post-pandemic, Singapore Airlines is projected to grow its market share and invest in sustainable aviation technologies by 2025.
9. Genting Singapore
Genting Singapore is a leading integrated resort developer and operator, known for its flagship property, Resorts World Sentosa. Established in 1984, the company reported a revenue of SGD 2.3 billion and a net profit of SGD 700 million in 2023.
With a workforce of approximately 10,000 employees, Genting Singapore is led by CEO Tan Hee Teck, who has been instrumental in driving the company's growth through strategic investments in entertainment and hospitality. Looking to 2025, Genting Singapore aims to enhance its offerings in the leisure and tourism sector, focusing on sustainability and innovation.
10. Frasers Property
Frasers Property is a multinational property company with a diverse portfolio that includes residential, commercial, and industrial properties. Founded in 1994, the company reported a revenue of SGD 2.1 billion and a net profit of SGD 400 million in 2023. Employing around 6,000 staff, Frasers Property is led by CEO Panote Sirivadhanabhakdi, who has emphasized sustainability and innovation in property development. As the company looks to 2025, it plans to expand its footprint in key markets across Asia and Australia, focusing on sustainable development practices.
In conclusion, the largest companies in Singapore are not only pivotal to the local economy but also play significant roles in the global market. Their continued growth and adaptation to changing economic landscapes, technological advancements, and sustainability trends will be crucial as they navigate the challenges and opportunities that lie ahead in the coming years. Each of these companies, with their unique histories and strategic visions, is poised for a promising future, contributing to Singapore's reputation as a leading global business hub.
