Three Singapore-based firms among top earners globally

This article is more than 12 months old

Jul 29, 2019 06:00 am

Three Singapore-based companies were among the highest-earning companies globally last year, according to Fortune magazine's annual Global 500 list.

The three companies - independent oil trader Trafigura Group, agribusiness giant Wilmar International and electronics manufacturer Flextronics Manufacturing - made last year's list as well. The Fortune Global 500, which is published annually, ranks companies based on operating revenue.

Trafigura, which shifted its headquarters to Singapore in 2015, earned US$180.7 billion (S$247.5 billion) in revenue and made US$849.2 million in profits over the last fiscal year.

Food giant Wilmar, which has made the Global 500 list for 11 years, earned US$44.5 billion in revenue and US$1.1 billion in profits last year.

Flextronics, which has around 200,000 employees, fell eight places to rank No. 474 in this year's ranking.

It made US$26.2 billion in revenue and US$93.4 million in profits for its last fiscal year. Its profits fell 78.2 per cent from the previous year, despite a 3 per cent increase in revenue. The manufacturing company has made the Global 500 list for 19 years.