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2012 winners unveiled at Enterprise 50 Awards

Singapore, 22 November 2012 – Singapore’s 50 most enterprising privately-owned companies for 2012 were announced at the Enterprise 50 (E50) Awards Presentation and Gala Dinner this evening. Heading the awards’ list was Lian Soon Construction Pte Ltd, a leading local construction company. In second and third place respectively were EL Development Pte Ltd and Superworld Electronics (S) Pte Ltd.

The Guest-of-Honour for the E50 Awards Presentation and Gala Dinner at the Resorts World Sentosa Convention Centre was Mr S Iswaran, Minister in Prime Minister’s Office, Second Minister for Home Affairs and Trade and industry. He presented the awards to this year’s top ten E50 companies.

Minister of State for Finance and Transport, Mrs Josephine Teo, gave away awards to the remaining 40 companies, ranked 11th to 50th on the E50 2012 list at a separate ceremony held in the morning.

Mr Owi Kek Hean, Deputy Managing Partner and Head of Enterprise Services, KPMG in Singapore, said: “This year’s E50 winners hail from a diverse spectrum of industries and have emerged stronger in the current economic climate. They take calculated risks and come up with innovative ways to enhance existing products, build new strategic relationships and seek new markets.”

He added: “The E50 Awards recognise the contributions that local, privately-held companies have made in this prevailing economic situation. They have showed the importance of staying resilient and effectively managing their strengths and vulnerabilities. I extend my heartiest congratulations to the winners.”

Mr Alvin Tay, Editor of The Business Times, said: “This year’s recipients have displayed impressive foresight and business acumen to achieve leading positions in their respective industries. Their successes have come about through continuous innovation, excellent marketing strategies and sound financial planning. The Business Times, KPMG and the other event partners would like to congratulate all the winners. We will continue to grow and improve Enterprise 50 to champion excellence in the business fraternity.”

Positioning for sustainable growth

The applicants this year were evaluated and ranked using both quantitative and qualitative criteria. Quantitative factors included financial performance indicators such as operating profit before tax, turnover and profit growth.

The qualitative criteria included management and marketing strategies such as the applicants’ business model and their innovations, management ideals and governance, market branding and overall potential.

In particular, the projected growth of qualifying companies, rather than just their historical financial records, has been given greater weight. This means that promising companies having the potential for sustainable growth are better positioned to make it to the E50 list.

Identifying some of the Industry’s best

The judges were particularly impressed with the strong showing among enterprises despite the economic uncertainties. This year’s list comprises organisation from diverse industries such as Real Estate / Construction (20 per cent), Manufacturing (20 per cent), Logistics (10 per cent), Distribution (10 per cent), Wholesale trade and commission trade (8 per cent), Engineering services (8 per cent), Retail trade (6 per cent), Hospitality / Travel (4 per cent), Information Technology / High tech (4 per cent), Business Services (4 per cent) as well as other industries (6 per cent).

The judging panel comprised of senior management representatives from KPMG in Singapore, The Business Times, the Infocomm Development Authority of Singapore (IDA), International Enterprise (IE) Singapore, the Singapore Business Federation (SBF), SPRING Singapore and OCBC Bank, who is the sponsor of the Awards.

Mr Linus Goh, Head of Global Commercial Banking, OCBC Bank, said: “OCBC is proud to return as the main sponsor of the Enterprise 50 awards for the seventh year running, to provide a platform for homegrown enterprises to showcase their achievements and to receive the recognition they deserve. The winning companies tonight are great examples of what can be achieved despite the challenging economic landscape. They have displayed a remarkable ability to adapt to new market realities while still continuing to seek out and pursue growth opportunities in a global environment beset with economic uncertainty. We are confident this new line-up of winners will join the many others who have successfully leveraged this prestigious platform to go on to do even bigger and better things.”

Mr Ronnie Tay, Chief Executive Officer of the Infocomm Development Authority of Singapore, said: “I congratulate this year's E50 winners on their success. It is encouraging to see more companies from diverse industries harnessing infocomm technology to strengthen their business models for that competitive edge. Technology is an important enabler for enterprises to be more productive and to differentiate their products and services in an increasingly competitive global marketplace.”

Mr Teo Eng Cheong, Chief Executive Officer, International Enterprise (IE) Singapore, said: "A key theme this year is the emphasis on building sustainable businesses to withstand global volatility. The need to internationalise for growth has become more urgent. Asia alone presents many opportunities for Singapore companies, with rapid urbanisation and rise of the middle class in China, India and Southeast Asia. To help companies seize these opportunities, IE Singapore works with them through our Global Company Partnership to help them access markets, financing and build up critical capabilities for internationalisation.”

Mr Victor Tay, Chief Operating Officer, Singapore Business Federation, said: “The E50 awardees have displayed forward thinking and ingenuity in their quick response to the economic uncertainty, by incorporating new strategies and changing old ways of doing business. This resilience and adaptability is to be commended. We hope these companies will serve as role models to spur the wider business community to transform and differentiate against global economic challenges. As apex business chamber, we will continue working with our counterpart trade associations and chambers and government to assist Singapore companies in restructuring and building up their capabilities during these uncertain times.”

Mr Png Cheong Boon, Chief Executive, SPRING Singapore, said: “The E50 awards recognise local enterprises for their outstanding business achievements and urges other SMEs to emulate them for success. In today’s competitive business environment where resources are finite and customers increasingly demanding, it is even more crucial for enterprises to strengthen their business management competencies, and remain vigilant of emerging trends. SPRING Singapore will continue to support local enterprises in capabilities building and increasing productivity through innovation, people development and technology adoption, so that they can stay resilient through economic uncertainties and keep up their competitiveness globally”.

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About the Enterprise 50 Awards 

The theme of this year’s Enterprise 50 Awards is Navigating through uncertain times. In its 18th year, the awards were launched in 1995 to identify, support, recognise and reward enterprising privately-owned, local companies across all sectors. It has become a definitive list of the 50 most enterprising, privately-held local companies in Singapore. 

E50 is jointly organised by The Business Times and KPMG in Singapore, and sponsored by OCBC Bank. Supporters of the awards include the Singapore Business Federation, the Infocomm Development Authority of Singapore, International Enterprise Singapore and SPRING Singapore. 

E50 c/o KPMG 
16 Raffles Quay #22-00, Hong Leong Building, Singapore 048581 
E50 Hotline: 
+65 6507 1555 

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About The Business Times

The Business Times (BT), published by Singapore Press Holdings, 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 +8 hrs) and to offer news updates throughout the day, from Mondays to Sundays. 

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.

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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 152 countries and have more than 145,000 professionals worldwide. 

Our professionals can help growing enterprises cut through the complexity in doing business across a broad range of business issues facing them in their growth, performance, governance, and compliance objectives. These include audit, tax, business planning, and advice on fundraising, acquisitions, process improvements, and risk management. KPMG’s website is located at

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. It is also ranked by Bloomberg Markets as the world's strongest bank.

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 continued to gain industry recognition in 2011 including being voted the “Outstanding Private Bank in Asia Pacific” by Private Banker International.

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About the Infocomm Development Authority of Singapore 

The Infocomm Development Authority of Singapore (IDA) is committed to growing Singapore into a dynamic global infocomm hub. It works closely with various stakeholders across sectors like education, healthcare, finance, transport, logistics, interactive and digital media, hospitality and retail to leverage infocomm for its economic and social development. The initiative, Infocomm@SME Programme offers Small and Medium Enterprises (SMEs) a series of initiatives and resources in speeding up their infocomm transformation. This is part of the nation’s iN2015 masterplan to develop Singapore into an intelligent nation, global city powered by infocomm. 

For more information, please visit

About International Enterprise Singapore

International Enterprise (IE) Singapore is the government agency driving Singapore’s external economy. It spearheads the overseas growth of Singapore-based companies and promotes international trade.

The agency partners Singapore-based companies in their international expansion through its “3C” framework of assistance (Connections, Competency and Capital), and through its global network in over 35 locations spanning many emerging markets. 

It also anchors global trading companies in Singapore and promotes the country as a base to expand into the region in partnership with Singapore-based companies.

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About SPRING Singapore

SPRING Singapore is the enterprise development agency for growing innovative companies and fostering a competitive SME sector. We work with partners to help enterprises in financing, capabilities and management development, technology and innovation, and access to markets. As the national standards and accreditation body, SPRING also develops and promotes internationally-recognised standards and quality assurance to enhance competitiveness and facilitate trade.

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About Singapore Business Federation (新加坡工商联合总会)

As the apex business chamber, the Singapore Business Federation (SBF) champions the interests of the business community in Singapore, in trade, investment and industrial relations. Nationally, SBF acts as the bridge between the government and businesses in Singapore to create a conducive business environment. Internationally, SBF represents the business community in bilateral, regional and multilateral for the purpose of trade expansion and business networking. 

For more information, please visit