The 2010 Enterprise 50 Awards open for nominations today. Jointly organised by The Business Times (BT) of Singapore Press Holdings and KPMG in Singapore, the theme for this year's awards is 'Poised for growth'.
In its 16th year, the E50 Awards have become the definitive list of the 50 most enterprising, privately held local companies in Singapore across all industry sectors. Its rankings exemplify top-performing local enterprises, and encourage other companies to come forward and benchmark themselves amongst the best of Singapore's enterprises.
Mr. Danny Teoh, Managing Partner of KPMG in Singapore, said: "KPMG is proud to be associated with the Enterprise 50 Awards for the third consecutive year. The E50 list represents the best of Singapore's entrepreneurship. Its winners exemplify the key traits which are critical for business success and demonstrate the true spirit of enterprise."
He added, "Given last year's global economic downturn, this year's awards are about recognising local enterprises which have overcome great challenges to thrive in their respective industries and are prepared for the upturn. They will no doubt be regarded as role models for other homegrown enterprises."
Mr Alvin Tay, Editor, The Business Times said, "The 2010 E50 Awards' call for submissions comes at a time where companies are recovering from the economic downturn and must decide how best to grow their companies. As co-organisers with KPMG, we look forward to receiving submissions from companies that have seen the best and worst of recent economic times. The commitment to innovate and having strong leadership are some of the qualities that we will be looking out for in this year's E50 judging."
New this year, is the Singapore Business Federation (SBF), which has come on-board as a supporter. Mr. Teoh said, "We are pleased to have the SBF join the E50 awards as a supporter this year and we warmly welcome them. Their participation provides the important dimension of industry support for the awards."
A key highlight of this year's launch event is a forum titled 'Poised for growth', moderated by Mr. Ong Pang Thye, Head of Enterprise Services at KPMG. The forum began with a presentation by Professor Foo See Liang from the Singapore Management University. In his presentation, he discussed the findings from a recent KPMG-SMU study of local enterprises on the subjects of productivity, innovation and growth.
Professor Foo said, "This fact-finding exercise gives us a feel of what entrepreneurs think about issues like productivity, innovation and growth through internationalisation, mergers or acquisitions. In my opinion, entrepreneurs have to blend each of the growth enablers identified according to their businesses to optimise growth."
The forum went on to a panel discussion joined by eminent local entrepreneurs who shared their views on these issues, the challenges or opportunities available and what enterprises needed to do to be prepared for the upturn.
Assessing the Benefits
Some of the benefits of being an E50 Award winner as cited by past recipients include enhancements in their business reputation, greater recognition by suppliers and customers, development of strategic business relationships, and a boost in staff morale.
For companies eyeing a public listing on the Singapore Exchange (SGX), an E50 award is a testament to their business achievements. To date, more than 100 companies receiving the award have been successfully listed on the SGX.
E50 applicants are evaluated both on quantitative and qualitative criteria, with the former taking into consideration financial performance indicators such as operating profit before tax, turnover and profit growth.
The latter takes into consideration their plans for the longer term, the viability of their business model, initiatives targeted at innovation and productivity as well as standard of corporate governance amongst others.
Mr. Linus Goh, Global Head of Enterprise Banking and Financial Institutions, OCBC Bank, said, "The E50 Award epitomises the spirit of enterprise in Singapore. It recognises companies with the resilience and resourcefulness to deliver sustainable growth through the ups and downs of the economy. OCBC Bank is delighted to return as the main sponsor of this important award for the 5th consecutive year."
Nominations close at 5.00pm on 30 June, 2010.
The 2010 Enterprise 50 list will be published in the fourth quarter of 2010.
For further information please contact:
Assistant Manager, Marketing & Communications, KPMG in Singapore
Tel: +65 6507 1541 (direct) / 8118 9962 (mobile)
Manager, Marketing & Communications, KPMG in Singapore
Tel: +65 6507 1534 (direct) / 8118 9400 (mobile)
Yeo Siew Chi
Assistant Manager, Corporate Communications, Singapore Press Holdings Limited
Tel: +65 6319 1586 (direct) / 9749 5105 (mobile)