DBS tops 12 Singapore giants on Forbes Global 2000 list

Agribusiness Wilmar led local sales at $91.52b (US$70.4b). 

DBS Group Holdings ranked highest amongst 12 Singapore-headquartered companies on the 24th Forbes Global 2000 list, placing 125th globally.

Forbes said the list ranks the world’s largest public companies using four metrics: sales, profits, assets, and market value.

DBS posted $37.44b (US$28.8b) in sales, $10.88b (US$8.37b) in profit, $907.39b (US$697.99b) in assets, and $173.78b (US$133.68b) in market value.

The bank was followed by Oversea-Chinese Banking Corporation in 215th place and United Overseas Bank in 278th place, with market values of $104.91b (US$80.7b) and $62.52b (US$48.09b), respectively.

Wilmar International ranked fourth amongst Singapore companies and 521st globally, with a market value of $24.05b (US$18.5b). It also posted the highest revenue amongst local firms at $91.52b (US$70.4b).

Singapore Telecommunications ranked 546th globally, with a market value of $80.63b (US$62.02b).

Other Singapore companies on the list were Trip.com Group at 679th, Singapore Airlines at 916th, Olam Group at 1325th, Singapore Technologies Engineering at 1577th, CapitaLand Integrated Commercial Trust at 1683rd, Keppel Ltd. at 1806th, and China Aviation Oil at 1965th.

Globally, companies on the list collectively accounted for $72.8t (US$56t) in annual revenue, $7.15t (US$5.5t) in profit, $353.86t (US$272.2t) in assets, and $158.47t (US$121.9t) in market value.

Forbes said all four metrics reached record highs despite trade tensions, geopolitical instability, and persistent inflation.

$1 = US$0.77