Hong Kong, 12 December 2006 – According to the sixth annual Deloitte Fast 500 Index, the Asia Pacific tech sector is in very robust shape with this year’s fastest-growing 500 technology companies recording an average two-year revenue growth of 399 percent.

The Asia Pacific region’s fastest growing technology companies were profiled and recognised at the Deloitte Technology Fast 500 Asia Pacific 2006 Awards Ceremony, at the InterContinental Hotel in Hong Kong on 12 December, 2006.

Thirty one New Zealand businesses made the index, said John Bell, New Zealand head of Deloitte’s Telecommunications, Media & Technology practice. “The Fast 500 is an opportunity for Fast 50 technology companies to benchmark themselves internationally,” he said.

“The results show that New Zealand technology businesses are right up with the play.”

“The 2006 rankings also show that tech companies in Asia Pacific continue to achieve phenomenal success despite increased competition. The top five companies recorded growth rates ranging from 5,021 percent to 8,350 percent.”

“Australia leads the pack this year with three companies ranked in the top five and seven in the top 20, but New Zealand has also faired well with eight more companies making it into the Top 500 compared to last year.

Altogether companies from 10 locations make up the 500 —a wider geographical spread than last year and a strong indicator of the sector’s robust health and continuing growth potential,” said John Bell.

Key trends emerging from this year’s Deloitte Asia Pacific rankings are:

• The two-year average revenue growth for all 500 companies is a remarkable 399 percent, although this is down 119 percent from last year’s figures.
• Top sectors are Semiconductor, Components and Electronics (127 companies) and Software (123 companies), showing increases in representation since 2005 of 2.8 and 4.4 percent, respectively.
• The Communications/Networking sector has fallen by 4.4 percent, a figure greater than the growth recorded last year and placing the sector’s growth below the 2004 level. Interestingly, three of the top five companies are in this sector.
• Korea and Taiwan, again have the highest number of participating companies in the rankings, with 100 each. Australia is close behind with 70, an increase of 5.6 percent from 2005. China and Japan experienced the largest drop in number of companies represented, of 4.2 and 3.6 percent respectively.
• Two locations dominated the top five positions: Australia with three out of the five and Taiwan, two, with Taiwan claiming the number one and two spots.

Congratulations to the 31 New Zealand companies who made the 2006 Asia Pacific Fast 500.

Deloitte Technology Fast 500 Asia Pacific

The Deloitte Technology Fast 500 ranking covers public and private companies across the Asia Pacific region. The ranking is based on a two-year average percentage for revenue growth.  The awards are researched and sponsored by the Deloitte Technology, Media & Telecommunications (TMT) Industry Group.