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
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
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”.
For further information please contact:
Assistant Manager, Corporate Communications, Singapore Press Holdings Limited
Tel: +65 6319 1225
Communications Officer, Marketing & Communications, KPMG in Singapore
Tel: +65 6507 1546
Assistant Manager, Marketing & Communications, KPMG in Singapore
Tel: +65 6507 1519
Leow Si Wan
Assistant Manager, Marketing & Communications, KPMG in Singapore
Tel: +65 6507 1541