Debates Bills FAQ

Data on Profitability of Companies in Singapore Over Past Three Years | PAPERCUTS

Data on Profitability of Companies in Singapore Over Past Three Years

Debated in Parliament on 2 Apr 2024.

Summary written by AI (learn more)

Desmond Choo asked the Minister for Trade and Industry about the proportion of profitable companies in Singapore over the last three years and how their profitability has changed.
Gan Kim Yong responded that, on average, 66% of firms were profitable from 2020 to 2022.
He added that the median profitability rate, measured as profits divided by revenue, remained stable at around 17% during the same period.

Questions identified by AI (learn more)

Full Transcript

Desmond Choo

#1

Mr Desmond Choo asked the Minister for Trade and Industry (a) what is the proportion of companies in Singapore that are profitable over the last three years; and (b) how has the profitability of the companies changed over the same time period.

Gan Kim Yong

#2

Based on the latest available data, 66% of firms on average were profitable over the period of 2020 to 2022. The median profitability rate, or profits divided by revenue of these firms, was stable at around 17% over the same period.

Also debated this sitting

Criteria on Permissibility of Membership in Foreign Entities by Singaporean Citizens and Permanent Residents
Trend Analysis of Women Involved in Substance Abuse and Measures to Tackle Substance Abuse among Young Women and Young Mothers
Data on Migrant Workers Who Have Been Scam Victims and Measures to Raise Awareness of Scams Among Migrant Workers
Showcasing Products by Local Visual Asset Creators and Artists, and Boosting Their Economic Opportunities
Companies Being Re-domiciled to Singapore and Related Risks to Singapore's Reputation with Major Trading Partners
Measures to Ensure Accurate Representation of Nutritional Content of Food and Beverage Products in Advertisements
Considerations and Consultations Made In Decision to Include Gaza Conflict in Character and Citizenship Education Lessons
Reducing Class Sizes to Increase Teachers' Effectiveness and To Empower Students
Measures Taken to Monitor and Reduce Cyber Bullying in Schools
Steps Taken to Meet Increased Need for School Counsellors

Disclaimer

The information on this site contains data taken from the Parliament website and the Hansard, and augmented with analyses from artificial intelligence agents. While great care has been taken to ensure the accuracy of these analyses, they should not be regarded as fully accurate or comprehensive. Users are advised to consult original parliamentary documents and official records for precise and authoritative information.

Summary written by AI (learn more)

Desmond Choo asked the Minister for Trade and Industry about the proportion of profitable companies in Singapore over the last three years and how their profitability has changed.
Gan Kim Yong responded that, on average, 66% of firms were profitable from 2020 to 2022.
He added that the median profitability rate, measured as profits divided by revenue, remained stable at around 17% during the same period.

Questions identified by AI (learn more)

Questions identified

Summary

Back to top