The judging panel consists of representatives from The Business Times, KPMG, Enterprise Singapore and the Singapore Business Federation.

We believe that it is a fair representation of enterprises to be considered for the award based on Singapore's size and level of business activity. However, we are very open to extending this award to a greater number of companies if and when it is appropriate.

All business sectors are important to Singapore's continued growth. As such, we do not confine the awards to any particular sector or industry.

You are absolutely right. We do recognise the enterprising spirit of such ventures. However, we wanted to focus on incorporated companies as they would have consistent audited financial records. This would ensure an equitable comparison amongst the participating companies.

In ranking the top 50 companies, we look at factors which would reflect a company's enterprising spirit. Turnover is only one of many factors - growth and vision to venture internationally, as well as knowledge management skills are examples of other areas we consider.

Enterprise 50 is designed to be a local award that takes into account local market conditions. While the award may not yet be available internationally, we believe that it would be recognised internationally for what it is - an award for business excellence in the local market.