Singapore-headquartered Winking Studios (AIM/SGX: WKS) is a leading AAA game art outsourcing and development firm.

A one-of-a-kind company on the SGX which listed on Catalist in 2023, Winking provides high-quality art outsourcing and game development services.

It doesn't publish games—art outsourcing (82% of 1HFY25 revenue) is work-for-hire for services like designing characters and props for hits like Final Fantasy or FIFA. 

These are "AAA" titles, which are major, big-budget games produced and distributed by leading publishers who take on the financial risks or reap the rewards of a game when it is launched. 

Winking Studios -- rare Singapore play on global scale
As a rare SGX-listed company capturing business across the world, Winking works with an impressive 22 of the world's top game developers like EA, Ubisoft, and Sony.

Zeus notes Winking is a "global top four game art outsourcing company" in a US$10.9 billion market.

Its edge? Low costs from staff mostly in China and Taiwan—average employee cost is US$30.5k a year, half of US rates.Winking recently added a London listing (LSE: WKS) to attract more investors and grow outside Asia. 

Winking is 64.2% owned by Acer Group, a stake achieved through a combination of its pre-IPO stake, an investment during the 2023 IPO, and share acquisitions in 2024 and during the 2024 AIM listing. 

A S$3.7 billion market cap provider of IT products and services, Acer views Winking as integral to its strategy of expanding into higher-margin services and content provision, having invested a total of S$63.4 million.

Full story here: https://www.nextinsight.net/story-archive-mainmenu-60/948-2025/16321-this-unique-sgx-listco-delivers-premium-digital-art-for-global-gaming-giants