Eight companies in Southeast Asia listed on the 2020 Asia Pacific Technology Fast 500™ list

HANOI, 12 April 2021 – The 2020 Asia Pacific Technology Fast 500 index was released today by Deloitte Touche Tohmatsu Limited (DTTL), with Southeast Asia being represented by eight companies on the index. Malaysia’s ARB Berhad, an IT and IoT solutions and services company, is the top company in the region at 72^nd place, and Indonesia ranks on the list for the first time in recent years, with PT Tokopedia, a technology company specializing in e-commerce, coming in at 94^th place.

This index is an annual ranking of the fastest growing Asia Pacific companies in the hardware, software, communications, media, life sciences and clean technology industries. Awardees are selected for the Technology Fast 500 ranking based on their percentage of fiscal year revenue growth over three years.

 “Congratulations to all our APAC Technology Fast 500 2020 winners, with a special shout out to the eight companies headquartered in Southeast Asia who made the list,” said Yang Chi Chih, Deloitte Southeast Asia Technology, Media & Telecommunications Industry Leader.

“Even though the COVID-19 pandemic has brought about unprecedented disruptions to businesses in the last year, it has also catalysed digital transformation across Southeast Asia as companies pivoted to respond, recover and thrive. Looking ahead, we expect technology companies in the region to continue this growth trajectory, focusing and leveraging on 5G technology, cloud and data analytics.”

Southeast Asia companies ranked in the 2020 Asia Pacific Technology Fast 500:

Terminus Technologies, a Chinese software company that provides smart solutions on public security, public administration and public services to government agencies and corporations, claimed the top spot, with a stunning 17,915% growth rate.

By securing first place in the ranking, Terminus became the sixth Chinese company to land the top spot. The company was founded in 2015 and is headquartered in Beijing. Using its AIoT (Artificial Intelligence & Internet of Things) engine to drive the growth of traditional industries, the company takes pride in effectively understanding customers’ needs, and is dedicated to creating cutting-edge solutions surrounding community service, public utilities, electric power, cultural products and museum retail scenarios.

“This year’s winners have all weathered multiple challenges to make it on the list,” said Mike Horne Deloitte Private Asia Pacific Leader.

“Amidst the pandemic, these organizations have managed to maintain strong growth momentum, keep injecting vitality into the communities, industries, and markets they serve, and demonstrate extraordinary resilience, creativity, and dedication. While celebrating their admittance, I hope that, through this program, more and more businesses in the Asia Pacific region which are struggling at the moment can draw inspiration from others’ experiences, find a way forward, make steady headway, and are able to get ahead of the competition in this diverse and inclusive region.”

Top 10 companies ranked in the 2020 Asia Pacific Technology Fast 500:

Geographical Trends

Having 175 companies represented in the index, Chinese Mainland maintained its lead position by taking five of the top 10 spots.

Australia broke its own record of 98 companies listed last year with 102 recognized this year. 73 companies from Taiwan and 40 from Japan were also listed, and notably we saw the first Indonesian company to make the list.

Among the top 10 companies, software firm Stamen Co., Ltd., the first Japanese company that made the top 10 during the recent years, took the sixth place with 5,914% growth. India and Korea each managed to land a top 10 spot, with strong performers in software and life sciences coming  in at fifth (7,295%) and eighth (5,485%) respectively.

Sector Trends

Companies from Chinese Mainland and Taiwan dominated the sectors represented. Specifically, Chinese Mainland companies were the fastest growing in four categories (media, hardware, communications, and software) and their Taiwan counterparts took out the final two sectors (clean technology and life sciences).

Having a strong showing in the top ten with five companies represented, the software sector took up the largest share of 38%, followed by media (21%), hardware (19%), life sciences (15%), communications (5%), and clean technology (2%). Software has maintained 38% of the Technology Fast 500 list for the past three years. The ratio of life sciences companies listed overall was up 6 percentage points from 2019, thanks in part to the pandemic. Taiwan-based TaiMed which recorded a growth of 8,251% was the highest ranked life sciences company.

Revenue Growth Trends

This year the top 500 companies had an average revenue growth of 551% percent. For the top ten companies the average revenue for the current year in USD is $137,046,668. The average revenue growth of the top 10 is 7,621%.

Due to the global spread of COVID-19, the average revenue growth in 2020 dropped significantly compared to the 2019 average growth of 717%, and historical high in 2018 (987%), and is the fifth highest recorded by the Asia Pacific Technology Fast 500^tm.

The full list of winners of the 2020 Asia Pacific Technology Fast 500 can be found on www.deloitte.com/fast500asiapacific. Details of the program nomination and eligibility criteria can be found on www.deloitte.com/fast500.

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