The 2011 Enterprise 50 Awards opens for nominations today. Jointly organised by The Business Times of Singapore Press Holdings and KPMG in Singapore, the theme for this year's awards is 'Structuring for optimal growth'.
In its 17th year, the Enterprise 50 (E50) Awards have become the authoritative 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. Owi Kek Hean, Deputy Managing Partner and Head of Enterprise Services, KPMG in Singapore, said: "For the fourth consecutive year, KPMG is proud to be the co-organiser of the Enterprise 50 Awards. The E50 list embodies the finest in Singapore entrepreneurship. Its winners epitomise the qualities which are essential for successful commerce and exhibit the true strength of enterprise."
He added, "Now that Singapore has recovered from the economic downturn, it is important that companies utilise the best conditions around them to grow. Key to this is structuring for productivity and innovation. The race is on to see who can use their limited resources to produce maximum results and be ahead of everyone."
Mr. Alvin Tay, Editor of The Business Times, said: "The Business Times is privileged to be the co-organiser of the prestigious E50 Awards. Each year, the competition for places in this elite E50 group has intensified. To stay ahead of the competition, the successful enterprises must be more innovative and continuously strive to offer a strong and unique value proposition to their clients. It is important that we identify and honour Singapore's most promising enterprises which will play a significant role as Singapore positions itself to take on the challenges in an ever-changing global business landscape."
A key highlight of this year's launch event was the E50 forum on family-run businesses, moderated by Mr Teng Theng Dar, Executive Chairman of Save Our Planet Investments Pte Ltd.
The forum went on to a panel discussion joined by distinguished local entrepreneurs who shared their views on the issues faced by family run businesses, the opportunities available and what these businesses needed to do in order to overcome challenges and build sustainable growth.
Assessing the Benefits
Some of the benefits of being an E50 Award winner as cited by past recipients include increased prominence in their respective industries, greater recognition from bankers, business associates, suppliers and customers, enhanced brand awareness overseas, and a boost in staff morale.
For companies aspiring 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.
It also takes into account a business's ability to restructure - processes, organisational structure, product development, corporate governance and other aspects to its business model ? to effectively adapt to an ever-changing business landscape.
Mr. Linus Goh, Global Head of Enterprise Banking and Financial Institutions, OCBC Bank, said: "We are delighted to return as the main sponsor of the E50 Awards for the 6th consecutive year. In its 17th year, this Award continues to provide a powerful platform for Singapore enterprises to validate their business models and strengthen their brands. Many of the SMEs who made it into this definitive list have since grown into successful listed companies, with some going on to become global names. We are pleased to have played a role in recognising the achievements of so many winning enterprises and propelling their businesses to new heights."
Nominations close at 5.00pm on 15 July 2011.
The 2011 Enterprise 50 list will be published in the fourth quarter of 2011.
For further information please contact:
Assistant Manager, Marketing & Communications, KPMG in Singapore
Tel: +65 6507 1541 / 8118 9962
Associate Director, Marketing & Communications, KPMG in Singapore
Tel: +65 6507 1534 / 8118 9400
Yeo Siew Chi
Assistant Manager, Corporate Communications, Singapore Press Holdings Limited
Tel: +65 6319 1586 / 9749 5105