Contact: Michele Minjoot
Deloitte & Touche Singapore
Corporate Communications Manager
+65 6216 3184

500 fast-growing technology companies in Asia Pacific were recognised in the Deloitte Technology Fast 500 Asia Pacific 2004 programme today. The overall winner this year for the region is Bill Express Limited, which operates one of Australia’s major electronic networks for product distribution, sales and payment. It achieved an incredible 56,303 percent revenue growth over a three-year period.

Singapore’s winning companies formed 2 per cent of the total Asia Pacific representation of fast-growing technology companies. Undoubtedly, countries with large market sizes like S.Korea, China and Japan formed the bulk of entries for the region contributing 22 percent, 18 percent and 16 percent of the winning entrants. Companies representing the Communications, Internet and Semi-conductor, Electronics and Components industry sectors occupy the top five positions. They achieved an average 15,783 percent revenue growth, a staggering increase from last year’s 8,441 percent, and this continues the upward momentum over the three years of the programme.

Bucking the trend of fast-growing companies from the Communications, Internet and Semi-conductor, Electronics and Components sectors is Singapore’s Sinomem Technology Limited from the Life Sciences industry. The company uses its advanced membrane technology to provide integrated process and engineering solutions for separation, purification and cleaner production purposes in diverse industries. It has successfully retained its top spot from 2003 with a credible revenue growth of 332% over the three years. This year there are 12 Singapore companies ranked in the programme, an increase from the seven ranked last year. Of the 12 Singapore companies ranked, apart from Sinomem, five are also winners from last year. These companies are: Eastern Asia Technology Ltd, Huan Hsin Holdings Ltd, MediaRing Ltd, Venture Corporation Limited and Singapore Telecommunications Limited.

Singapore companies ranked in Deloitte’s 2004 Technology Fast 500 Programme

Company Name	Industry	3-year Growth	Country Ranking	Overall Ranking
Sinomem Technology Limited	Life Sciences	332%	1	105
Huan Hsin Holdings Ltd	Electronics & Components	193%	2	163
MediaRing Ltd	Communications	161%	3	194
Unisteel Technology Limited	Electronics & Components	135%	4	227
Aculearn Pte Ltd	Software	123%	5	251
Venture Corporation Limited	Electronics & Components	122%	6	254
Zone Telecom Pte Ltd	Communications	115%	7	274
Eastern Asia Technology Limited	Electronics & Components	113%	8	275
Beyonics Technology Limited	Electronics & Components	89%	9	320
Stratech Systems Limited	Communications	88	10	323
Singapore Telecommunications Limited	Communications	65%	11	392
Lankom Electronics Limited	Electronics & Components	47%	12	432

Mr. Shariq Barmaky, Deloitte & Touche Singapore’s Technology, Media and Telecommunications (TMT) Industry Partner said: “There are grounds for confidence based on the ranking of Singapore’s fast-growing technology companies this year. Of the 12 companies ranked, half of them originate from the Electronics & Components industry. Their growth reflects that the industry in Singapore is back on track for success and hungry to deliver the appropriate product range to satisfy client requirements.”

Mr. Chaly Mah, CEO & Managing Partner of Deloitte & Touche Singapore said: “After a rough ride in which most companies in the TMT world felt pain, these companies have come back even stronger. Driven by enhanced understanding and clarity of the benefits that their technology provides, coupled with the emergence of weathered entrepreneurs and experienced managers, their focus now is to provide real value, return and sustainability. The companies in the Singapore ranking are exceptional, more so for their resilience.”

Looking ahead, emerging technologies such as voice over IP, intelligent transport systems, remote frequency ID tags, wireless LAN, global IT outsourcing and the development and penetration of open source, should provide an exciting year ahead for companies in the industry. “The Infocomm Development Authority (IDA) and Economic Development Board (EDB) have put in place a strong communications infrastructure and fast developing research capabilities over the past few years. This augurs well for the technology community as there are fertile grounds for Singapore’s TMT companies to jostle for rankings in Deloitte’s Technology Fast 500 Asia Pacific programme in the future.” added Mr. Barmaky.

Note to Editors

The Deloitte Technology Fast 500 Asia Pacific 2004 programme is a ranking of the leading technology companies across the region based on percentage revenue growth over the last three years. Along with its counterparts in North America and EMEA (Europe, Middle East and Africa), it is well respected and now established as one of the most objective awards of its type globally in the TMT industry.

In order to qualify for the Deloitte Touche Tohmatsu Asia Pacific Technology Fast 500 Programme, a company must meet the following criteria:

1- It must be a technology company defined as:
• A company that develops proprietary technology which contributes to a significant portion of the company's operating revenues (NB using another company's technology in a unique way does not qualify); or
• A company that manufactures a technology-related product; or
• A company that devotes a high percentage of effort to research and development of technology.
2- It must be in business for a minimum of three years.

3- It must have revenues of at least US$50,000 in the first of the years being analysed

4- It must be Asia Pacific owned and headquartered in the Asia Pacific Region. 

Download the winners report attached.

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