JUNEASIA BUSINESS OUTLOOK8NEWSROOM· Singaporean companies top Southeast Asiaâs revenue list, generating $819Billion.· Trafigura leads with $312.6B, making Singapore the regional revenue powerhouse.· Singapore's DBS, OCBC, and UOB rank as Southeast Asia's most profitable firms.According to the Fortune Southeast Asia 500, released this week, Singaporean companies generated the most revenue of the region's largest companies.The list that measures the region's 500 largest companies by revenue includes companies from seven economies: Indonesia, Thailand, Malaysia, Vietnam, the Philippines, Cambodia, and Singapore.While Singapore is the region's wealthiest country based on GDP per capita, it ranked third in representation with 81 companies on the list, behind Indonesia (109) and Thailand (100). When measured by revenue, however, Singapore ranked number one by a large margin over all its ASEAN colleagues.The Singaporean companies represented on the list generated a total of $819b (US$637b), or over one-third, of the total $2.31t (US$1.8t) generated by all 500 companies. This figure is almost double the total for Thailand at $452b (US$352b).Heading the list is the Singapore-headquartered Trafigura Group. Trafigura is a commodities trading company that has reported $312.6b (US$243.2bThe three local banks in Singapore: DBS, OCBC and UOB just so happened to rank as the most profitable companies, but don't have the most revenue.Some significant companies from Singapore include global agribusinesses Wilmar International and Olam Group at ranks 4 and 5 respectively. Last year, Wilmar had $86.6b (US$67.4b) in revenue, and Olam had $53.2b (US$42b) in revenue.Singapore, as a regional financial and trading hub, continues to attract multinational companies. Companies like Trafigura and Flex (ranked 10th) are legally incorporated in Singapore or are multinationals with majority operations in Singapore, which factors into the city's share of revenue under Fortune's approach. SINGAPORE COMPANIES GENERATES HIGHEST REVENUE IN SOUTHEAST ASIA· SemiDrive to supply its X9 cockpit SoC to a European automaker by late next year.· The deal marks SemiDrive's first mass-production partnership outside China.· Over 8 million SemiDrive chips have been deployed in over 100 vehicle models since 2021.Chinese automotive chipmaker SemiDrive has said that it will provide its cockpit system-on-a-chip (SoC) to an unspecified European automaker in the second half of next year.The chips will be fitted in different models in the form of sedans and SUVs that will be sold in Europe, the Middle East, and Africa. The cars are projected to have SemiDrive X9 SoC, with CPUs, GPUs, AI accelerators, and video processors on advanced cockpit jobs.This joint project means that this will be the first cooperation with an external original equipment manufacturer (OEM) in mass-produced vehicles not located in China according to general manager Eugene Wang. With headquarters in Nanjing, SemiDrive was founded in 2018 and focuses on smart cockpit and (MCUs) automotive grade chips.It has been providing chips to over 100 vehicle models (with more than 8 million chips) since 2021, mainly to Chinese car manufacturers. Less than 10 percent of such chips have been applied in export targeting vehicles and the European deal is a milestone in the global strategy of SemiDrive. The investors to the company are SAIC Motor, Sequoia Capital, Walden International and, matrix partners. SEMIDRIVE EXPANDS GLOBALLY WITH EUROPEAN AUTOMOTIVE CHIP DEAL
< Page 7 | Page 9 >