Don't overlook mid-size firms: HSBC report

Singapore

MID-SIZE companies get less attention than their smaller and larger peers but actually play a crucial role in Singapore's economy, HSBC said in a report yesterday.

Those in the business services sector contribute the most to economic activity here and those in the mining and utilities sector the least, it added.

HSBC estimated that Singapore has about 1,540 mid-size companies, which it defined as those with US$50 million to US$500 million in annual turnover.

These firms together generated about US$176 billion in revenue and contributed about US$39 billion, or 15.3 per cent, to the country's gross domestic product…