Homegrown brand Old Chang Kee, best known for its curry puffs, was among seven local firms named in Forbes Asia's 2024 Best Under A Billion list.

A compilation of 200 publicly traded companies with sales under US$1 billion (S$1.3 billion) but above US$10 million (S$13.3 million), the list also featured other local businesses, including Singapore Exchange and Credit Bureau Asia.

Design and manufacturing firm Aztech Global, electrical products retailer Choo Chiang Holdings, food producer Delfi, and Eggriculture Foods also made the cut, out of a pool of 20,000 listed firms.

Old Chang Kee's chief financial officer, Song Yeow Chung, said the company is honoured to be on the list, reported The Straits Times.

Forbes noted that F&B companies were among the top performers, marking the return of tourists and a "flourishing middle class willing to splurge on meals out".

While geopolitical and inflationary headwinds sapped momentum from some economies, strong domestic demand, alongside greater infrastructure spending and global trade, helped power the region's growth, it reported.

Top image from Old Chang Kee/Facebook