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Key indicators on Singapore's Corporate Sector: 2001 - 2002

Summary Findings

Size and Composition of the Corporate Sector

Summary Table

Both shareholders’ equity and total assets continued to expand in 2002, though at slower rates compared to 2001.
Shareholders’ equity rose by 4.4 per cent to reach $627 billion in 2002, after an increase of 9.1 per cent in 2001.
Total assets owned by companies stood at $2,500 billion as at end 2002. Its growth also moderated to 1.7 per cent in 2002 from 3.6 per cent in 2001. (Chart 1)
Shareholders' Equity
Shareholders’ equity in financial services sector (which includes investment holding companies) made up about $286 billion or 45.6 per cent of total shareholders’ equity in the corporate sector.
The next largest sectors were manufacturing and real estate & business services with 17.2 per cent and 12.9 per cent respectively. Other major sectors were transport & communications (10.5 per cent) and commerce (9.6 per cent). (Chart 2)
Local-controlled companies accounted for three-fifths (or $380 billion) of total shareholders’ equity in 2002 while the remaining two-fifths (or $248 billion) was attributed to foreign-controlled enterprises. (Table 1)
Shareholders’ equity of local-controlled companies was evenly distributed between financial services and non-financial services sectors (about 50 per cent each).
Within the non-financial sectors, equity capital was mainly in real estate & business services (16.9 per cent) and transport & communications (14.0 per cent).
Shareholders’ equity in foreign-controlled companies was mainly concentrated in financial services (38.9 per cent). The share of equity in financial services of foreign-controlled enterprises was comparatively lower than that of their local-controlled counterparts.
The size of shareholders’ equity of foreign-controlled companies was understated due to the high concentration of foreign financial institutions that are branches of their overseas head office. Such branches do not have shareholders’ equity as they are not required to have paid-up capital.
Among foreign-controlled companies, other sectors with significant share of shareholders’ equity were manufacturing (32.5 per cent) and commerce (14.8 per cent).
Even though the bulk of total shareholders’ equity was contributed by local-controlled companies, there were some sectors in which foreign-controlled companies accounted for a significant portion of shareholders’ equity.
One such sector was manufacturing where 74.7 per cent of equity capital was attributed to foreign-controlled enterprises. Another sector with substantial shareholders’ equity from foreign-controlled entities was commerce (60.9 per cent).
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Source: Singapore Government News Release 23 Dec 2004

 

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Tuesday
28 December 2004