Fifty Singapore small and medium-sized enterprises were honoured for their business resilience, and for successfully navigating the uncertain economic landscape at the 28th edition of the Enterprise 50 (E50) Awards today.
The awards, themed “Ready, Reset, Grow”, spotlighted companies which were able to reset their strategies by harnessing technology, or pivot business models to stay relevant and grow both locally and abroad.
The evening’s Guest-of-Honour was Ms Low Yen Ling, Minister of State, Ministry of Culture, Community & Youth and Ministry of Trade & Industry. After two years of hybrid-styled celebrations due to the Covid-19 pandemic, this year’s awards ceremony was held at Resorts World Convention Centre, Sentosa.
Since its inception in 1995, the E50 Awards has recognised more than 700 companies across key business sectors in Singapore. The E50 awards is co-organised by The Business Times and KPMG in Singapore. OCBC Bank is the presenting sponsor.
The top three winners of this year’s E50 awards are:
- 1st place: BR Metals for developing innovative solutions such as an automated bulk sampling system that improves efficiency, reduces processing time and wastage from human errors.
- 2nd place: Yeap Medical Supplies for its diversification strategy that boosted market presence across retail channels, e-market places and supply partners.
- 3rd place: Apro Asian Protection Pte Ltd for effective transformation - through investing in digital systems, new capabilities and human capital - that allows for more service offerings.
Four Special Awards were also given out this year to the following companies:
- BR Metals was conferred the Internationalisation Award for winning multiple projects across Asia.
- Minmed Group Pte Ltd won the Enterprise Transformation Award for its ability to diversify its business in a dynamic and fast-paced environment.
- Knight Auto Precision Engineering Pte Ltd, Sing Fuels Pte Ltd, and D-Team Engineering Pte Ltd received the 5-Year Award for being an E50 awardee in five consecutive years.
- Supreme Components International Pte Ltd bagged the 10-Year Award for winning the E50 awards 10 times. The company joined E50 for the first time in 2011 and is one of only three 10-time winners in the history of the awards.
Ms Chen Huifen, Editor of The Business Times said: "Even as we are adjusting to a post-pandemic future, our companies are confronted by new challenges, from the fallout of the Ukraine war and the rising costs of doing business, to geopolitical tensions in the region. Yet despite the perceived gloom, we take heart that there are enterprises -- not just a handful but at least 50 of them - that continue to do well. This shows that companies, like human resilience, will always find new ways to bloom regardless of the environment."
Mr. Chiu Wu Hong, Partner & Head of Private Enterprise, KPMG in Singapore said: “An uncertain environment demands that businesses relentlessly invest in order to progress – be it in R&D, technologies and new markets or even pivoting to new business models. Many of the E50 companies recognised today have exemplified these best practices. For instance, 64 percent of them have capitalised on international expansion to drive revenue growth. Others have been diligently adopting digital technology, rethinking supply chains to stay competitive, as well as increasing production efficiency and production capacity through automation. They are also actively onboarding emerging technologies such as artificial intelligence and machine learning to capture data, analyse and learn from customer behaviours before rolling out products and services. These are positive signs for Singapore as it demonstrates the progressiveness of this year’s top 50 enterprises and their determination to scale and succeed despite global challenges.”
The success stories of the E50 award winners will be showcased in a commemorative publication to be released at next year’s event. This year’s book, the 14th edition of “Enterprise 50 – The Best SMEs in Singapore”, profiles winners of the 2021 E50 awards. Aimed at championing local businesses and inspiring future generations of entrepreneurs and leaders, the book is an annual joint initiative between the E50 organisers and the National University of Singapore (NUS) Business School. Every year, a limited number of copies signed by the Guest-of-Honour of the event are available for purchase at S$5,000 each, in support of the NUS Business School Bursary Fund.. Since the inception of this fund-raising initiative, S$812,000 has been raised.
|1||BR Metals Pte Ltd|
|2||Yeap Medical Supplies Pte Ltd|
|3||APRO-Asian Protection Pte Ltd|
|4||Superworld Holdings (S) Pte Ltd|
|5||TS Group Pte Ltd|
|6||Wang Learning Centre Pte Ltd|
|7||Knight Auto Precision Engineering Pte Ltd|
|8||Minmed Group Pte Ltd|
|9||Generation Next Communications Pte Ltd|
|10||KinderWorld International Group Ltd|
|11||Legend Logistics Ltd|
|12||Asia Piling Co Pte Ltd|
|13||HISAKA (Singapore) Pte Ltd|
|14||NW Corporation Pte Ltd|
|15||J316 Pte Ltd|
|16||Sing Fuels Pte Ltd|
|17||INEX Innovate Pte Ltd|
|18||Rico Engineering Works Pte Ltd|
|19||Super Bend Pte Ltd|
|20||Jade Micron Pte Ltd|
|21||Realstar Premier Group Pte Ltd|
|22||Mlion Corporation Pte Ltd|
|23||OrangeTee & Tie Pte Ltd|
|24||KeaWorld Pte Ltd|
|25||Seo Eng Joo Frozen Food Pte Ltd|
|26||Venus Beauty Pte Ltd|
|27||JOE Green Marketing Pte Ltd|
|28||Golden Horse Fund Management Pte Ltd|
|29||DCS Synthesis Pte Ltd|
|30||Wiselink Technology Pte Ltd|
|31||Vac-Tech Engineering Pte Ltd|
|32||Sam Lain Equipment Services Pte Ltd|
|33||Altron Shipping Pte Ltd|
|34||SRI Pte Ltd|
|35||Maxsteel Enterprise Pte Ltd|
|36||A Wellness Holdings Pte Ltd|
|37||Asia Edge Pte Ltd|
|38||ITCAN Pte Ltd|
|39||Hocklim Engineering Pte Ltd|
|40||Mao Sheng Quanji Construction Pte Ltd|
|41||Crayon Holdings Pte Ltd|
|42||PS Energy Group Pte Ltd|
|43||KEYfields Pte Ltd|
|44||Supreme Components International Pte Ltd|
|45||ADiRECT Singapore Pte Ltd|
|46||D-Team Engineering Pte Ltd|
|47||Vector InfoTech Pte Ltd|
|48||Almarc Engineering Pte Ltd|
|49||Tindo Pte Ltd|
|50||Business Edge Personnel Services Pte Ltd|
BR Metals Pte Ltd
Enterprise Transformation Award
Minmed Group Pte Ltd
Supreme Components International Pte Ltd
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, innovations, management ideals, governance, market branding and overall potential. For more information, please visit www.enterprise50.org
About SPH Media
SPH Media is a leading media group, with operations in the publishing of newspapers, magazines, and books in both print and digital editions. It also owns and operates other businesses such as radio stations and outdoor media. The mission of SPH Media is to be the trusted source of news on Singapore and Asia, to represent the communities that make up Singapore, and to connect them to the world. The businesses are held by SPH Media Trust, a public company limited by guarantee. For more information on SPH Media, please visit www.sph.com.sg, and our social media channels on Facebook, Instagram, LinkedIn, and YouTube.
About The Business Times
Singapore's only English financial daily, The Business Times (BT), is the authoritative guide on local, regional and international business markets. In addition to corporate news and commentary, BT covers the startup, wealth, property, lifestyle and SME scenes, and tells you what you need to know about ASEAN and the region.
For more information, please visit bt.sg.
About KPMG in Singapore
KPMG in Singapore is part of a global organisation of independent professional services firms providing Audit, Tax and Advisory services. We operate in 144 countries and territories with more than 236,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.
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 Aa1 by Moody’s and AA- by both Fitch and S&P. Recognised for its financial strength and stability, OCBC Bank is consistently ranked among the World’s Top 50 Safest Banks by Global Finance and has been named Best Managed Bank in Singapore by The Asian Banker.
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 more than 430 branches and representative offices in 19 countries and regions. These include over 200 branches and offices in Indonesia under subsidiary Bank OCBC NISP, and over 60 branches and offices in Mainland China, Hong Kong SAR and Macau SAR under OCBC Wing Hang.
OCBC Bank’s private banking services are provided by its wholly-owned subsidiary Bank of Singapore, which operates on a unique open-architecture product platform to source for the best-in-class products to meet its clients’ goals.
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. The agency works with committed companies to build capabilities, innovate and internationalise. It also supports the growth of Singapore as a hub for global trading and startups, and builds trust in Singapore’s products and services through quality and standards.
Visit www.enterprisesg.gov.sg for more information.
About Singapore Business Federation
The Singapore Business Federation is the apex business chamber championing the interests of the Singapore business community in the areas of trade, investment and industrial relations. It represents 27,000 companies, as well as key local and foreign business chambers.
For more information, please visit www.sbf.org.sg.
About Singapore Exchange (SGX Group)
We are Asia’s leading and trusted securities and derivatives market infrastructure, operating equity, fixed income, currency and commodity markets to the highest regulatory standards. We also operate a multi-asset sustainability platform, SGX FIRST or Future in Reshaping Sustainability Together (sgx.com/first).
We are committed to facilitating economic growth in a sustainable manner leveraging our roles as a key player in the ecosystem, a business, regulator and listed company. With climate action as a key priority, we aim to be a leading sustainable and transition financing and trading hub offering trusted, quality, end-to-end products and solutions.
As Asia’s most international, multi-asset exchange, we provide listing, trading, clearing, settlement, depository and data services, with about 40% of listed companies and over 80% of listed bonds originating outside of Singapore. We are the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN. In foreign exchange, we are Asia’s leading marketplace and most comprehensive service provider for global FX over-the-counter and futures participants. Headquartered in AAA-rated Singapore, we are globally recognised for our risk management and clearing capabilities.
For more information, please visit www.sgx.com.