One of them, MTI, 17% owned by Hikari and set up by Shigeta's childhood friend Toshihiro Maeta, lets mobile phone users do things like maintain interactive "personals" ads.

FORBES: The Web Phone Evangelist

Strong export orders drove growth this year, the MTI said.

BBC: NEWS | Business | Singapore economy in growth spurt

"The very robust expansion of the economy in 2004 will imply slower growth next year, partly attributable to the high base effect, " said Friedrich Wu, director of the MTI's economic division.

BBC: NEWS | Business | Singapore economy in growth spurt

On Monday, the Ministry of Trade and Industry (MTI) forecast growth of between 8% and 9% for the whole year, putting Singapore on a par with China, the fastest growing economy in Asia.

BBC: NEWS | Business | Singapore economy in growth spurt