Singapore, 4 May 2011 - 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.
|38KB||Quotes from past award winners|
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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
About the Enterprise 50 Awards
The Enterprise 50 Awards, now in its 17th year, was created in 1995 to identify, support, recognise and reward enterprising privately-owned, local companies across all sectors. It has since become a definitive list of the fifty most enterprising, privately-held local companies in Singapore.
It is jointly organised by The Business Times and KPMG in Singapore, and sponsored by OCBC Bank. Supporters of the awards are the Singapore Business Federation, the Infocomm Development Authority of Singapore, International Enterprise Singapore and SPRING Singapore.
Enterprise 50 nomination forms are available from the Enterprise 50 Secretariat
16 Raffles Quay #22-00
Hong Leong Building
E50 Hotline: +65 6507 1555
About The Business Times
The Business Times (BT), a member of the Singapore Press Holdings group, is South-east Asia's leading business daily. It is Singapore’s only financial daily and provides a complete guide on the local, regional and international business scene.
BT brings to its readers each day a comprehensive and concise package of corporate, financial, economic and political news, analysis and commentary. BT also carries features and the latest lifestyle trends in food, entertainment, shopping, arts, health, travel and design.
In June 1995, BT became the first English-language newspaper in Asia to go on the World Wide Web. Since January 2000, BT Online started to be available from 4am Singapore time (GMT +0800) and to offer news updates throughout the day.
Redesigned in September 2004 to engage a new generation of readers, a refreshing blue masthead, bigger fonts and friendlier layout were introduced. The content has been expanded to reflect a complete read, packing in loads of new features, such as specialty pages, a daily take on the health of the Singapore economy and dedicated regional pages.
About KPMG in Singapore
KPMG in Singapore is part of a global network of professional services firms providing Audit, Tax and Advisory services. The independent member firms of the KPMG network operate in 150 countries and have more than 138,000 professionals worldwide.
About OCBC Bank
OCBC Bank is the longest established Singapore bank, formed in 1932 from the merger of three local banks, the oldest of which was founded in 1912. It is now the second largest financial services group in Southeast Asia by assets and one of the world’s most highly-rated banks, with an Aa1 rating from Moody’s.
OCBC Bank and its subsidiaries offer a broad array of specialist financial services, ranging from consumer, corporate, investment, private and transaction banking to treasury, insurance, asset management and stockbroking services.
OCBC Bank’s key markets are Singapore, Malaysia, Indonesia and Greater China. It has a network of over 500 branches and representative offices in 15 countries and territories, including more than 400 branches and offices in Indonesia that are operated by its subsidiary, Bank OCBC NISP.
OCBC Bank's insurance subsidiary, Great Eastern Holdings, is the largest insurance group in Singapore and Malaysia by assets. Its asset management subsidiary, Lion Global Investors, is one of the largest private sector asset management companies in Southeast Asia. Private banking services are provided by subsidiary Bank of Singapore, which has been ranked among the top five global private banks in Asia.