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|Singapore’s 50 most enterprising privately-owned companies for 2012 were announced at the Enterprise 50 (E50) Awards Presentation and Gala Dinner this evening. Heading the awards’ list was Lian Soon Construction Pte Ltd, a leading local construction company. In second and third place respectively were EL Development Pte Ltd and Superworld Electronics (S) Pte Ltd.
The Guest-of-Honour for the E50 Awards Presentation and Gala Dinner at the Resorts World Sentosa Convention Centre was Mr S Iswaran, Minister in Prime Minister’s Office, Second Minister for Home Affairs and Trade and Industry. He presented the awards to this year’s top ten E50 companies.
Minister of State for Finance and Transport, Mrs Josephine Teo, gave away awards to the remaining 40 companies, ranked 11th to 50th on the E50 2012 list at a separate ceremony held in the morning.
The theme of this year’s E50 awards is Navigating through uncertain times. Mr Owi Kek Hean, Deputy Managing Partner and Head of Enterprise Services, KPMG in Singapore said: “This year’s E50 winners hail from a diverse spectrum of industries and have emerged stronger in the current economic climate. They take calculated risks and come up with innovative ways to enhance existing products, build new strategic relationships and seek new markets.”
He added: “The E50 Awards recognise the contributions that local, privately-held companies have made in this prevailing economic situation. They have showed the importance of staying resilient and effectively managing their strengths and vulnerabilities. I extend my heartiest congratulations to the winners.”
Mr Alvin Tay, Editor of The Business Times, said: “This year’s recipients have displayed impressive foresight and business acumen to achieve leading positions in their respective industries. Their successes have come about through continuous innovation, excellent marketing strategies and sound financial planning. The Business Times, KPMG and the other event partners would like to congratulate all the winners. We will continue to grow and improve Enterprise 50 to champion excellence in the business fraternity.”
Positioning for sustainable growth
The applicants this year were evaluated and ranked using both quantitative and qualitative criteria. Quantitative factors included financial performance indicators such as operating profit before tax, turnover and profit growth.
The qualitative criteria included management and marketing strategies such as the applicants’ business model and their innovations, management ideals and governance, market branding and overall potential.
In particular, the projected growth of qualifying companies, rather than just their historical financial records, has been given greater weight. This means that promising companies having the potential for sustainable growth are better positioned to make it to the E50 list.
Identifying some of the Industry’s best
The judges were particularly impressed with the strong showing among enterprises despite the economic uncertainties. This year’s list comprises organisations from diverse industries such as Real Estate / Construction (20 percent), Manufacturing (20 percent), Logistics (10 percent), Distribution (10 percent), Wholesale trade and commission trade (8 percent), Engineering services (8 percent), Retail trade (6 percent), Hospitality / Travel (4 percent), Information Technology / High tech (4 percent), Business Services (4 percent) as well as other industries (6 percent).
The judging panel comprised senior management representatives from KPMG in Singapore, The Business Times, the Infocomm Development Authority of Singapore (IDA), International Enterprise (IE) Singapore, the Singapore Business Federation (SBF), SPRING Singapore and OCBC Bank, who is the sponsor of the Awards.
Mr Linus Goh, Head of Global Commercial Banking, OCBC Bank said: “OCBC is proud to return as the main sponsor of the Enterprise 50 awards for the seventh year running, to provide a platform for homegrown enterprises to showcase their achievements and to receive the recognition they deserve. The winning companies tonight are great examples of what can be achieved despite the challenging economic landscape. They have displayed a remarkable ability to adapt to new market realities while still continuing to seek out and pursue growth opportunities in a global environment beset with economic uncertainty. We are confident this new line-up of winners will join the many others who have successfully leveraged this prestigious platform to go on to do even bigger and better things.”
Mr Ronnie Tay, Chief Executive Officer of the Infocomm Development Authority of Singapore said: “I congratulate this year's E50 winners on their success. It is encouraging to see more companies from diverse industries harnessing infocomm technology to strengthen their business models for that competitive edge. Technology is an important enabler for enterprises to be more productive and to differentiate their products and services in an increasingly competitive global marketplace.”
Mr Teo Eng Cheong, Chief Executive Officer, International Enterprise (IE) Singapore said: "A key theme this year is the emphasis on building sustainable businesses to withstand global volatility. The need to internationalise for growth has become more urgent. Asia alone presents many opportunities for Singapore companies, with rapid urbanisation and rise of the middle class in China, India and Southeast Asia. To help companies seize these opportunities, IE Singapore works with them through our Global Company Partnership to help them access markets, financing and build up critical capabilities for internationalisation.”
Mr Victor Tay, Chief Operating Officer, Singapore Business Federation said: “Bolstered by the buoyant domestic demand, this year’s E50 awards winners come predominantly from the construction sector. The E50 awardees have displayed forward thinking and ingenuity in their quick response to the economic uncertainty, by incorporating new strategies and changing old ways of doing business. This resilience and adaptability is to be commended. We hope these companies will serve as role models to spur the wider business community to transform and differentiate against global economic challenges. As the apex business chamber, we will continue working with our counterpart trade associations and chambers and government to assist Singapore companies in restructuring and building up their capabilities during these uncertain times.”
Mr Png Cheong Boon, Chief Executive, SPRING Singapore said: “The E50 awards recognise local enterprises for their outstanding business achievements and urges other SMEs to emulate them for success. In today’s competitive business environment where resources are finite and customers increasingly demanding, it is even more crucial for enterprises to strengthen their business management competencies, and remain vigilant of emerging trends. SPRING Singapore will continue to support local enterprises in capabilities building and increasing productivity through innovation, people development and technology adoption, so that they can stay resilient through economic uncertainties and keep up their competitiveness globally”.
Please see Annex A for a list of the E50 winners.
About the Enterprise 50 Awards
The theme of this year’s Enterprise 50 Awards is Navigating through uncertain times. In its 18th year, the awards were launched in 1995 to identify, support, recognise and reward enterprising privately-owned, local companies across all sectors. It has become a definitive list of the 50 most enterprising, privately-held local companies in Singapore.
E50 is jointly organised by The Business Times and KPMG in Singapore, and sponsored by OCBC Bank. Supporters of the awards include the Singapore Business Federation, the Infocomm Development Authority of Singapore, International Enterprise Singapore and SPRING Singapore.
E50 c/o KPMG
16 Raffles Quay #22-00, Hong Leong Building, Singapore 048581
E50 Hotline: +65 6507 1555
Annex A: E50 winners 2012
||Name of Company
||Lian Soon Construction Pte Ltd
||EL Development Pte Ltd
||Superworld Electronics (S) Pte Ltd
||Chiu Teng Construction Co Pte Ltd
||Progressive Builders Pte Ltd
||East Asia Institute of Management Pte Ltd
||Jumbo Seafood Pte Ltd
||Wee Tiong (S) Pte Ltd
||Falcon Incorporation Pte Ltd
||Borden Company Pte Ltd
||OKH Holdings Pte Ltd
||Gain City Best-Electric Pte Ltd
||Teambuild Land Pte Ltd
||Seiko Architectural Wall Systems Pte Ltd
||Soon Li Heng Civil Engineering Pte Ltd
||Rotating Offshore Systems Pte Ltd
||SGCM Pte Ltd
||IPS-Lintec Asia Pacific Pte Ltd
||V8 Environmental Pte Ltd
||Victor Enterprises Pte Ltd
||Feng Ming Construction Pte Ltd
||AllAlloy Pte Ltd
||Mooreast Asia Pte Ltd
||Deluge Fire Protection (S.E.A.) Pte Ltd
||Ensure Engineering Pte Ltd
||Pan Asia Logistics Singapore Pte Ltd
||Global Harvest Trading Pte Ltd
||JustCommodity Software Solutions Pte Ltd
||Feinmetall Singapore Pte Ltd
||Krislite Pte Ltd
||Jay Gee Enterprises (Pte) Ltd
||Supreme Components International Pte Ltd
||Capita Pte Ltd
||Comfort Design Pte Ltd
||Moldfactory Pte Ltd
||Sudima International Pte Ltd
||Rigel Technology (S) Pte Ltd
||Indoguna (Singapore) Pte Ltd
||BLPL Logistics (Singapore) Pte Ltd
||Katrina Holdings Pte Ltd
||Mercantile Pacific Asia Pte Ltd
||BD CraneTech Pte Ltd
||Kwong Soon Engineering Co (Pte) Ltd
||CAD-IT Consultants (Asia) Pte Ltd
||Newstead Technologies Pte Ltd
||Azen Manufacturing Pte Ltd
||Lita Ocean Pte Ltd
||Golden Bridge Foods Manufacturing Pte Ltd
||B K Civil & Construction Pte Ltd
||Alphatron Asia Pte Ltd