Profitability improves in 2024 as Singapore firms’ ROA and ROE increase

ROA rises to 6.0% whilst ROE increases to 12.2% in 2024.

Return on assets (ROA) and return on equity (ROE) in Singapore’s corporate sector increased in 2024, reflecting stronger year-on-year profitability, according to the Singapore Department of Statistics.

ROA rose to 6.0% from 5.4% in 2023, whilst ROE increased to 12.2% from 11.2%, driven by higher profits in the finance and insurance, manufacturing, and transport and storage industries.

Total corporate assets reached about $14.4t at end-2024, up 6.8% from a year earlier. Equity stood at around $6.17t, whilst liabilities totalled about $8.20t.

The finance and insurance sector accounted for the largest share of assets, at about $10.3t, or 71.6% of the total corporate sector.

Follow the link for more news on

Department of Statistics

Chart of the Day

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia