2009 Enterprise 50 Awards: Staying resilient and preparing for the upturn

2009 Enterprise 50 Awards: Staying resilient and preparing for the upturn

April 28, 2009

Click here to download the complete press release in PDF format (271kb)

The 2009 Enterprise 50 Awards opens 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 business resilience in the current economic crisis.

The E50 Awards identify, support and pay recognition to enterprising, privately-owned local companies across all industry sectors in Singapore. It is perhaps the most definitive list of the fifty most promising local companies in Singapore today.

Mr. Danny Teoh, Managing Partner of KPMG in Singapore, said: "KPMG is proud to be associated with the Enterprise 50 Awards this year for a second time. Beyond recognising excellence in local entrepreneurship, the 15 year legacy of the E50 awards in itself celebrates the endearing nature of local enterprise, as it has grown with them from strength to strength."

"Local enterprises make up 95 percent of Singapore's total enterprises and form the bedrock for innovation and entrepreneurship, strengthening our economy. No discussion about the state of the economy can take place without considering how local enterprises are doing in this recession," he said, "Key themes which will feature in this year's E50 awards selection process are therefore business resilience, and an enterprises' preparations for a future economic up-turn."

Mr Alvin Tay, Editor of The Business Times, said: "BT is pleased to be co-organising the E50 Awards with KPMG again this year. It is important that we identify Singapore's most promising enterprises in recognition of their commitment to the enterprising spirit. Their contribution will play a significant role as Singapore positions itself to take on the challenges during these difficult economic times."

A highlight of this year's launch event is a forum moderated by KPMG titled 'Preparing for the upturn', which discussed issues surrounding what enterprises must do to remain resilient in this downturn and prepare for an eventual up-turn.

Some of the issues discussed included strategies for coping with the current economic environment as well as what the longer term impact of the current recession might be. Also discussed was what enterprises should be thinking about today, in preparation for a future economic upturn.

Quotes from past award winners are included in the annex.

Benefits of Participation

Participants 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. Qualitative aspects include business model and innovations, management ideals and governance.

Some of the benefits of being an E50 Award winner as cited by past recipients include enhancements in their business image, greater recognition by suppliers and customers, development of strategic business relationships, and a boost in staff morale.

A large number of past Enterprise 50 companies have used the ranking as a platform for public listing. To date more than 100 companies who have received the award have successfully listed themselves on the Singapore Exchange (SGX).

Mr Linus Goh, Global Head of Enterprise Banking and Financial Institutions, OCBC Bank, said: "OCBC has a strong tradition of supporting local enterprises and is delighted to be the main sponsor for the E50 Awards for the fourth consecutive year. Over its 15 years, the Awards have recognised successful companies in both good times and bad, and we believe this year's winners will continue to demonstrate the strength and adaptability of our home-grown enterprises."

Nominations close at 5.00pm on 15 June, 2009. The 2009 Enterprise 50 list will be published in November 2009.

For further information please contact:
Jeremy Kong
Senior Executive, Marketing & Communications, KPMG in Singapore
Tel: +65 6507 1541 (direct) / 8189 1277 (mobile)
e-Mail: jeremykong@kpmg.com.sg

Kelvin Lee
Manager, Marketing & Communications, KPMG in Singapore
Tel: +65 6507 1534 (direct) / 8118 9400 (mobile)
e-Mail: kelvinlee1@kpmg.com.sg

Yeo Siew Chi
Assistant Manager, Corporate Communications, Singapore Press Holdings Limited
Tel: +65 6319 1586 (direct) / 9749 5105 (mobile)
e-Mail: yeosc@sph.com.sg


Click here to download the complete press release in PDF format (271kb)

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