April 9, 2007
SINGAPORE, 9 April, 2007 - Nominations are now open for the 2007 Enterprise 50 and e50.startup award. The launch was officiated by Mr. Philip Yeo, Chairman of Spring Singapore, who was an invited speaker.
Launched in 1995, the E50 award program is organised by Accenture and The Business Times, and is supported by the Economic Development Board, International Enterprise Singapore, and Spring Singapore. The program is also sponsored by OCBC Bank.
Since its inception, the E50 ranking has become the definitive list of the fifty most enterprising, privately-held local companies in Singapore. Companies are ranked based on weighted averages of selected performance indicators such as operating profit before tax, turnover and profit growth over the last three years.
To celebrate outstanding young enterprises in Singapore, without the necessary track record to quality for the main ranking, the organisers launched a sister listing, e50.startup, in 2002. The e50.startup award is an initiative to give recognition to young entrepreneurs who have demonstrated vision, commitment and true entrepreneurial spirit in contributing to Singapore's economy.
Mr. Seah Chin Siong, Country Managing Director of Accenture, said, "After more than a decade, the E50 ranking still maintains its original objectives of encouraging local companies to come forward and benchmark themselves amongst the best of Singapore's local enterprises. "
He added, "This award recognises the achievements and contributions of high performing enterprises and encourages them to play an even greater role in the global economy."
According to Mr. Alvin Tay, Editor of The Business Times, "Winning the Enterprise 50 award gives companies a lot of leverage. Some use it as a stepping stone to list on the Singapore Exchange. Others gain in terms of visibility and brand recognition. We look forward to compiling this year's list of Singapore's 50 most enterprising, privately-held companies.''
Said Mr Sng Seow Wah, Executive Vice President, Head of Enterprise Banking, OCBC Bank, "The Enterprise 50 Award is not merely a ranking exercise, nor simply giving the winners a pat on the back. It is about giving recognition to deserving local SMEs that overcame great odds to succeed in their respective domains, and providing them that extra "wing" to fly higher. "
The top three winners of the 2006 E50 list were APS Asset Management Pte Ltd, LIPICO Technologies Pte Ltd and Wee Tiong (S) Pte Ltd. The top three winners for the 2006 e50.startup list were Synergy Logistics Pte Ltd, AeroMobiles Pte Ltd and SPL Innotech Pte Ltd.
Some benefits of being on the E50 list cited by past winners include enhancements in their business image, recognition by suppliers and customers, development of strategic business relationships, and a boost in staff morale. A large number of E50 companies also use the ranking as a platform for public listing. To date more than 100 companies have listed on the Singapore Stock Exchange.
E50 nomination forms are available from the E50 Secretariat (tel: 6410-8003; email@example.com), Business Times (Ms. Christine Ang at 6319 5119 or firstname.lastname@example.org), EDB, IE Singapore, and Spring Singapore. For more information, please visit www.enterprise50.org.
Nominations close at 5.00pm on June 29, 2007.