27 JULY 2020, Singapore – Against the backdrop of unpredented times as the nation grapples with the effects from the Covid-19 pandemic, KPMG in Singapore and The Business Times today announce that nominations for the coveted annual Enterprise 50 (E50) Awards are now open. In line with this year’s theme, “Extraordinary Times, Exceptional Resillience”, organisers of the awards are looking to recognise 50 local businesses for their accomplishments, spirit of innovation excellence and sustainable business models especially given the challenging economic climate brought on by the pandemic.
The annual awards, now in its 26th year, have been firmly established as a benchmark for excellence in today's competitive business environment. The virtual launch was attended by corporate leaders from more than150 local enterprises this afternoon.
Mr Jonathan Ho, Partner, Head of Private Enterprise at KPMG in Singapore, said: “Businesses have been hard hit by Covid-19. With increasingly challenging and unexpected scenarios, it is imperative that companies stay resilient as they adopt a growth mindset, reshape business models and innovate to stay ahead of the curve. I urge all enterprises to participate in the E50 Awards to gain increased recognition, greater access to business networks and a platform for sustainable growth. We also want these enterprises to inspire other businesses to emerge stronger and to go on to achieve more.”
Mr Wong Wei Kong, Editor at The Business Times, said: "Together with partners of the E50, The Business Times remains committed to advancing the needs and interests of local enterprises as they forge their path to success, both locally and abroad. We look forward to welcoming a new generation of enterprises who exemplify outstanding innovation and business excellence."
The E50 Awards is jointly organised by KPMG in Singapore and The Business Times, and sponsored by OCBC Bank. Supporters of the awards include Enterprise Singapore, the Singapore Business Federation and the Singapore Exchange.
The winning criteria include factors such as the applicants’ business model, management ideals and innovation, internationalisation, knowledge initiatives, market branding and presence, risk management and sustainability.
The E50 Awards is widely recognised as a stamp of approval for enterprises, helping to open doors to new businesses and access to strong financial backing. Winners also benefit from being part of Singapore’s business community, with opportunities to leverage this network as a launchpad for expansions abroad. Additionally, it provides an avenue to an IPO listing, with over 100 past winners having gone on to be listed on the Singapore Exchange and other bourses in the region.
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For media enquiries, please contact:
Mr Leonard Tan
Director, Marketing & Communications
KPMG in Singapore
Tel: 8611 8779
About the Enterprise 50 Awards
The Enterprise 50 Awards was launched in 1995 to identify, support, recognise and reward enterprising privately-owned, local companies across all sectors. Since then, it has become a definitive list of the 50 most enterprising, privately-held local companies in Singapore.
The E50 Awards is jointly organised by KPMG in Singapore and The Business Times, and sponsored by OCBC Bank. Supporters of the awards include Enterprise Singapore, the Singapore Business Federation and Singapore Exchange.
Every year, applicants of the E50 Awards are evaluated and ranked using both quantitative and qualitative criteria. Quantitative factors include financial performance indicators such as operating profit before tax, turnover and profit growth. The qualitative criteria include management and marketing strategies such as the applicants’ business models, management ideals and innovation, internationalisation, knowledge initiatives, market branding and presence, risk management and sustainability.
For more information, please visit www.enterprise50.org
About KPMG in Singapore
KPMG in Singapore is part of a global network of professional services firms providing Audit, Tax and Advisory services. With 200,000 people in the network working together to deliver value in 154 countries and territories, we offer a globally-consistent standard of service based on professional capabilities, industry insight and local knowledge.
In the ASEAN region, KPMG member firms operate across all 10 countries. Our industry focus helps KPMG firms’ professionals develop a rich understanding of clients' businesses and the insight, skills and resources required to address industry-specific issues and opportunities.
About The Business Times
The Business Times, a member of the Singapore Press Holdings group, is South-east Asia's leading financial daily. BT brings to its readers daily corporate, financial, economic and political news, analysis and commentary on print and digital platforms. It provides readers with in-depth coverage of
Singapore and Asian business and economic developments, as well as global trends that impact Singapore business. BT's lifestyle journalists bring busy executives the latest in recreation, entertainment, the arts, design, food and shopping.
For more information, please visit businesstimes.com.sg.
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. Recognised for its financial strength and stability, OCBC Bank has been ranked Asean’s strongest bank and among the world’s five strongest banks by Bloomberg Markets for five consecutive years since the ranking’s inception in 2011.
OCBC Bank and its subsidiaries offer a broad array of commercial banking, specialist financial and wealth management 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 over 620 branches and representative offices in 18 countries and regions. These include the more than 330 branches and offices in Indonesia under subsidiary Bank OCBC NISP, and more than 90 branches and offices in Hong Kong, China and Macau under OCBC Wing Hang.
OCBC Bank’s private banking services are provided by its wholly-owned subsidiary Bank of Singapore, which has received increasing industry recognition as Asia’s Global Private Bank, and was voted “Outstanding Private Bank in Southeast Asia in 2014” by Private Banker International.
OCBC Bank's insurance subsidiary, Great Eastern Holdings, is the oldest and most established life insurance group in Singapore and Malaysia. Its asset management subsidiary, Lion Global Investors, is one of the largest private sector asset management companies in Southeast Asia.
For more information, please visit www.ocbc.com
About Enterprise Singapore
Enterprise Singapore is the government agency championing enterprise development. We work with committed companies to build capabilities, innovate and internationalise.
We also support the growth of Singapore as a hub for global trading and startups, and build trust in Singapore’s products and services through quality and standards.
Visit www.enterprisesg.gov.sg for more information.
About Singapore Business Federation
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 businesses and government in Singapore to create a conducive business environment. Internationally, SBF represents the business community in bilateral, regional and multilateral fora for the purpose of trade expansion and business networking. For more information, please visit our website: www.sbf.org.sg
About Singapore Exchange
Singapore Exchange is Asia’s leading and trusted market infrastructure, operating equity, fixed income and derivatives markets to the highest regulatory standards. As Asia’s most international, multi-asset exchange, SGX provides listing, trading, clearing, settlement, depository and data services, with about 40% of listed companies and 75% of listed bonds originating outside of
Singapore. SGX is the world’s most liquid offshore market for the benchmark equity indices of China, India, Japan and ASEAN and offers commodities and currency derivatives products. Headquartered in AAA-rated Singapore, SGX is globally recognised for its risk management and clearing capabilities.
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