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date: 07 July 2022

Abstract and Keywords

Like many other economies, the Singaporean economy is dominated by business groups. As in a number of other East and South East Asian economies, family-controlled business groups control a high stake of the economy in Singapore. However, unlike many others, the Singaporean economy has a predominance of government-linked business groups rather than family-controlled ones. These groups are constituted by unusual hybrids of state and private enterprises. This article describes the characteristics of the largest business groups and outlines the political and economic contexts of Singapore. It summarizes the emergence and growth of the business groups as well as their change in the historical contexts of Singapore and the region, with a specific focus on the extent of the changes in these groups by 2006 as compared to 1997 when the Asian economic crisis occurred. It also examines the competitive capabilities of these groups.

Keywords: Singaporean economy, business groups, family-controlled business, government-linked business groups, Asian economic crisis

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