The Straits Times and Germany based international research firm Statista compiled a list of 75 Singapore’s fastest-growing companies in 2021, based on the company’s revenue growth from 2016 to 2019. This list consist of a variety of businesses from different sectors, from technology, retail, health, food and beverage to energy sector.

SCI eCommerce is ranked 2nd out of all the companies listed, and the first from the e-commerce industry.

The prestigious list named Carro from the technology industry as Singapore’s fastest growing company in 2021, followed by SCI eCommerce in the second place overall, and first place or the fastest growing company in the e-commerce industry.

How to Be The Straits Times and Statista Singapore’s Fastest-Growing Companies

Independent companies headquartered in Singapore with minimum revenue generated of $150,000 in 2016 and $1.5 million in 2019 can registered themselves via websites created by Statista and The Straits Times from May to September 2020.

Statista also examined the officially stated revenue data of over 600 public companies in Singapore, and added companies which met the aforementioned revenue criteria to the list.

Then, growth rates are calculated based on the revenue figures submitted by the companies, in the respective national currencies. The figures were then converted into Singapore dollars for comparison.

The result is a list of companies ranked by compound annual growth rate, which is calculated by taking into account revenue growth over the three-year period.