ASX-listed company Chaos Group is the second-fastest growing technology company in the Asia-Pacific region, according to the inaugural Deloitte Touche Tohmatsu (DTT) Fastest 500 report for the region.
Online entertainment distribution and data storage company Chaos has been in business for six years, and has been credited with a staggering 5,143 per cent growth in turnover over the past three years.
Chaos director Victoria Doidge attributed the company's success to growth in the Internet, e-commerce and DVD sectors of the business as well as company acquisitions which included gaslightmusic and data management outfit Microview.
"We see this as extremely significant. It is a tough time to be a technology company and it is terrific that DTT has this means of recognising growth. It is good for corporate relations, share price and general profile - recognition is critical having gone through the dotcom crash," said Doidge.
Australia had four companies in the top 10, including software company VeCommerce (ranked sixth), Internet companies Seek and Hitwise (eighth and tenth respectively), and Chaos.
Chinese mobile phone manufacturer TCL Mobile Communications headed the field of 250 rapid risers with a mind-boggling 26,330 per cent growth. The report will include 500 companies next year, matching DTT compilations for North America and Europe.
Rankings are based on percentage turnover growth 1999-2001, or 2000-2002 if the company has a year-end between January and May. Only Asia-Pacific-owned technology companies that had been in business for a minimum of three years and had revenues of at least US$50,000 in the first year of analysis were eligible.
Deloittes's Fastest 500 Top Five Companies
- TCL Mobile Communications, Communications/Networking China - (26,330)
- Chaos Group, Internet, Australia - (5,143)
- Corecess, Communications/Networking, South Korea - (2,384)
- Faith, Communications/Networking, Japan - (1,612)
- Cybird, Internet, Japan - (1,549)