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     FrontPage Edition: Fri 21 Oct 2005

Key indicators on Singapore's Corporate Sector 1999 - 2003


Key Indicators on Singapore's Corporate Sector, 1999-2003
Size and Composition of the Corporate Sector
In 2003, both shareholders¡¯ equity and total assets continued to register positive growth. Compared with 2002, shareholders¡¯ equity rose by 5.5 per cent to reach $653 billion as at end 2003.
Over the past decade, total shareholders¡¯ equity more than tripled from $214 billion as at end 1993 to $653 billion as at end 2003. This represented an average growth of 11.8 per cent per annum. (Chart 1)
Total assets owned by companies increased by 3.6 per cent from 2002 to reach $2,575 billion as at end 2003. Between 1993 and 2003, total assets more than doubled from $1,176 billion as at end 1993 to $2,575 billion as at end 2003.
Shareholders' Equity
Of the total shareholders¡¯ equity as at end of 2003, almost half (46.8 per cent or $305 billion) were held in financial services sector (which includes investment holding companies).

The second largest sector was manufacturing with 16.9 per cent of total capital, followed by real estate & business services with 12.3 per cent. Transport & communications (10.9 per cent) and commerce (9.4 per cent) were other major sectors in the corporate sector. (Chart 2)
As at end of 2003, about 59.5 per cent or $389 billion of total shareholders¡¯ equity was contributed by local-controlled enterprises while the remaining 40.5 per cent or $264 billion was accrued to foreign-controlled companies. (Table 1)
Slightly more than half of shareholders¡¯ equity (52.8 per cent) of local-controlled companies was concentrated in financial services. The other major sectors with significant equity capital among local-controlled companies were real estate & business services (16.0 per cent) and transport & communications (14.3 per cent).
Similarly, financial services sector accounted for the bulk of shareholders¡¯ equity (37.9 per cent) among foreign-controlled companies, though the proportion of equity was lower compared to their local-controlled counterparts (52.8 per cent). This arose mainly because branches of foreign financial institutions in Singapore are not required to have paid-up capital.
Besides financial services, manufacturing (78.6 per cent) and commerce (62.3 per cent) were the other sectors with significant portion of equity capital among foreign-controlled establishments.
Although foreign-controlled companies accounted for less than half of total shareholders¡¯ equity in the overall corporate sector, they were dominant in two sectors. More than three-quarters (78.6 per cent) of shareholders¡¯ equity in manufacturing and about two-thirds (62.3 per cent) in commerce were accrued to foreign-controlled enterprises.
Main Table

Source: Media Release 20 Oct 2005

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