16 Feb 2017
The Straits Times
By Jacqueline Woo
SINGAPORE - Companies saw overseas revenue grow at a faster rate last year as they looked abroad for opportunities, according to International Enterprise (IE) Singapore.
The trade agency said in its latest year-in-review report on Thursday (Feb 16) that a survey it conducted found firms' overseas revenue grew 4.2 per cent year on year, outpacing their total revenue growth of 1.3 per cent year on year.
For small and medium-sized enterprises (SMEs), overseas revenue made up 53 per cent of total revenue, a three percentage point increase from last year.
Overseas revenue formed close to 40 per cent of total turnover for larger enterprises, a one percentage point increase from previously.
The survey, conducted across some 700 companies in the second half of last year, also showed companies are interested in markets such as China, India and Vietnam this year.
IE Singapore facilitated more than 450 projects globally last year, most of them in China and South-east Asia. About 30 per cent of these projects transformed the business of the companies.
https://www.iesingapore.gov.sg/Media-Centre/News/2017/2/Overseas-revenue-ke...