Grand Venture Technology (GVT) has secured a spot in Forbes Asia’s Best Under A Billion list in 2022.
The list selects 200 companies from 20,000 publicly traded companies in the Asia Pacific region that has an annual sales record of between US$10 million ($13.7 million) to US$1 billion. GVT was one of the seven Singapore companies to clinch the spot.
Other Singapore companies listed are UMS Holdings, The Hour Glass, Micro-Mechanics, Koda, Nordic Group and Eggriculture Foods.
These companies were evaluated on their track record in measures such as debt, sales and earnings-per-share growth over both the most recent fiscal one- and three-year periods, and the strongest one and five-year average returns on equity.
For the FY2021 ended Dec 31, 2021, GVT posted a threefold rise in net profit attributable to shareholders to $17.6 million, on the back of an 89% growth in revenue to $116.3 million.
“We are highly encouraged to have made Forbes Asia’s cut, which is even more meaningful coming on the tenth year of our incorporation,” says Ricky Lee, deputy executive chairman of GVT.
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“We have come a long way from being a small company that was full of ambition in 2012 to where we are today as a consistently profitable public-listed company on the Singapore Exchange Mainboard. The recognition is testimony of our team’s hard work and dedication and will spur us on to scale even greater heights,” he adds.
Shares in GVT closed 1.5 cents lower or 2.11% down at 69.5 cents on Aug 10.
