Companies in Singapore are optimistic about business conditions in the next six months, building on the momentum of last year's stronger-than-expected economic growth, government surveys showed Wednesday.

A weighted 20 percent of companies in the key manufacturing sector forsee an improved outlook, with a weighted 5.0 percent predicting a deterioration, the Economic Development Board (EDB) survey showed.

"The positive momentum is largely due to a stable economic outlook for the first half of 2006," EDB said.

Among the most optimistic companies are oil rig makers in the marine and offshore segment due to anticipation of "seasonal increases in ship repairs and conversion, and heavy order books for rigs and oilfield equipment," it said.