Singapore, 20 Aug. 2011 (WAM): Horizon Singapore Terminals, a subsidiary of Horizon Terminals Limited, the leading terminal operator owned by Emirates National Oil Company (ENOC), has been ranked in the prestigious Fastest Growing 50 (FG50), which features Singapores top 50 companies based on the outstanding corporate growth achieved in the past three years.
The FG50 Awards ranks the top 50 companies in the country that have attained the highest three-year Compound Annual Growth Rate (CAGR) and includes all the currently ranked Singapore 1000 and SME 1000 companies. The FG50 Awards are organised by DP Information Group (DP Info), Singapores leading credit and business information bureau, with Ernst & Young Solutions LLP, and supported by the Accounting and Corporate Regulatory Authority (ACRA), Infocomm Development Authority of Singapore (IDA), International Enterprise Singapore (IE), SPRING Singapore (SPRING), the Singapore Business Federation (SBF) and The Business Times. Howard Pang, General Manager, Horizon Singapore Terminals, received the award from Teo Eng Cheong, CEO of International Enterprise Singapore at a ceremony held at Raffles City Convention Centre, Singapore. Yusr Sultan, Managing Director of Horizon Singapore Terminals, said: "Our recognition as a FG50 company, a prestigious ranking that highlights the strong fundamentals and growth track-record of leading Singaporean companies, underlines the strong credentials we have established in a short span of time. Located strategically on Jurong Island, Horizon Singapore has established significant partnerships globally by offering multi-berth discharge and loading operations that maximise throughput capacity for our clients. The FG50 recognition will further enable us to strengthen our operations in Singapore."To qualify for the ranking, firms must have to demonstrate at least 10 per cent turnover growth or better every year in the past three years and must be profitable for each of the three years. The ranking recognises the achievement of companies that have distinguished themselves consistently, and spur the companies to strengthen operations internationally. Horizon Singapore Terminals is currently one of the largest independent bulk liquid storage terminal facilities in the Far East, and is a key partner in the development of Singapores oil logistics infrastructure. The terminal plays a vital role in supporting the countrys position as one of the most robust oil trading centres and the largest bunker port in the world. The Terminal is situated on Jurong Island, the petrochemical hub of Singapore, the worlds top bunkering port by volume. Its strategic location on the south-western quadrant of Singapore provides for smooth marine traffic movements for tankers that call at the Terminal, ranging from Very Large Crude Carriers (VLCC) to small bunker barges. It caters to the storage, handling and blending requirements of national oil companies, oil majors, traders and bunkering companies.Copyright Emirates News Agency (WAM) 2011.
