Singapore, 1 June 2012 – Ascenz Pte Ltd, East Asia Power Pte Ltd and Tagit Pte Ltd have emerged as the top three winners of the Emerging Enterprise Awards 2012 (EE2012).
They received their awards from Guest-of-Honour, Mr Teo Ser Luck, Minister of State for Trade & Industry and Mayor of North East District at the EE2012 Gala Dinner and Awards Ceremony held at the Fullerton Hotel Singapore this evening. The event was attended by more than 400 representatives from the business community.
Marking its 5-year milestone, EE2012 saw a ten-fold increase in the number of applications since its inception in 2008. This year, the award has once again attracted a diverse range of entries from industries including oil and gas, aquaculture, biotechnology, engineering, and wholesale and distribution. Many of the award submissions demonstrated sustainable business models with high growth potential and have innovative business strategies to take on the challenges and opportunities in their respective fields.
EE2012 is Singapore’s only annual entrepreneurial award that reaches out to younger and smaller businesses which are up to 10 years old and have annual sales turnover of $10 million or less. It is jointly organised by The Business Times, and OCBC Bank, and supported by SPRING Singapore, NUS Extension and Acorn Marketing and Research Consultants. SingTel is the presenting sponsor for the two Best Innovation Awards, while RSM Chio Lim is the official auditor for EE2012.
Recognising the best and brightest in the emerging business segment
The top three winners – Ascenz Pte Ltd, East Asia Power Pte Ltd and Tagit Pte Ltd – were selected against a strong field of 11 other finalists. They stood out for their pursuit of differentiation strategies to attain strong competitive advantage and significant potential to build a scalable business. Against the backdrop of an increasingly complex macroeconomic environment, they were able to achieve strong and sustained growth, demonstrating the strength and leadership qualities of their management teams.
Each winner will receive $390,000 in prizes comprising an interest-free loan, professional services, training programmes and support in capability development.
The two winners of the SingTel Best Innovation Awards are Hope Technik Pte Ltd and JCS-Vanetec Pte Ltd. Introduced in 2010, this award recognises our winners’ spirit of innovation and originality in business concepts. Each winner will receive $30,000 worth of business infocomm technology solutions sponsored by SingTel.
Quotes from co-organisers and partners:
Mr Alvin Tay, Editor of The Business Times, said: “This year, as we welcome the latest group of winning SMEs, we also mark the fifth anniversary of the Emerging Enterprise Awards. Tonight’s winners share similar traits of past winners, demonstrating innovativeness, foresight and sharp business acumen. As these companies mature and thrive under the support of the EE partners, their success will play a critical role in building the pool of entrepreneurial talent in Singapore. Congratulations to this year’s winners! ”
Mr Gan Kok Kim, Head of Group Investment Banking, OCBC Bank, said: “This year’s finalists share two key common denominators of success: a high level of resourcefulness and a strong entrepreneurial spirit. These traits put them in good stead for growth to the next level of success. We are pleased to have the opportunity to recognise these emerging leaders and look forward to supporting them in their expansion going forward.”
Mr Tan Chor Sen, Head of Emerging Business, Global Commercial Banking, OCBC Bank, said: “The Emerging Enterprise Award marks its fifth anniversary this year and like many of the past year winners, it has grown in breadth and depth since its inception. The Award has garnered recognition as the de facto platform for promising emerging enterprises poised to be the large and globally competitive corporations of tomorrow.
The diversity and quality of the entries we had received these years clearly demonstrates the wealth of local talents we have in Singapore. The winners have proven that size does not matter in the pursuit of their dreams. They are bold in their imagination, innovative in executing their ideas and versatile in adapting to market conditions. Their recognition is highly deserved and their success stories are inspiring to their fellow entrepreneurs.”
Ms Chew Mok Lee, Assistant Chief Executive, Enterprise & Innovation, SPRING Singapore, said: “Congratulations to all the winners and finalists! With a record number of applications this year, competition was tough. The Emerging Enterprise Awards recognises their entrepreneurial spirit and tenacity, which is more remarkable given the current global economic uncertainties. Building sustainable businesses is an ongoing journey. These enterprises have demonstrated their growth potential with their commitment to developing their capabilities. We look forward to supporting their journey unto the global stage.”
Mr. James Tay, Executive Director, of NUS Extension, said: “NUS Extension congratulates the winners of this year's Emerging Enterprise 2012 Awards. All the finalists have shown that the success of their businesses goes beyond just strategy and technology. It is about the readiness of their people to compete effectively against the competition in this challenging economic environment. NUS Extension is indeed delighted that CET (Continuing Education and Training) is important to these companies and will continue to support the Emerging Enterprise Award event.”
Mr Kaka Singh, Chairman, RSM Chio Lim LLP, said: “We are seeing more emerging businesses that are founded or run by entrepreneurs of various foreign backgrounds, many of whom have also actively tapped into regional markets to drive growth. This is a testimony of Singapore as an attractive hub for entrepreneurial ideas and ventures. The Emerging Enterprise Awards seek to identify the gems among them, and we are honoured to walk with them in their growth journey."
Mr Danny Lai, Country Business Manager for Acorn Marketing and Research Consultants in Singapore, said: "It continues to be a privilege to be part of the Emerging Enterprise Awards. Each year brings us a new batch of impressive companies who define themselves not by their size or history, but by their tenacity, inventiveness, discipline and creativity in tackling the business challenges of their respective sectors, and most of all, by the passion and vision of the entrepreneurs who helm them. Our heartiest congratulations to all the finalists and the winners."
Mr Dumas Chin, Vice President Business Sales, SingTel, said: “This is the third year that SingTel is sponsoring the Best Innovation Award, and the winners have impressed with their keen ability to stretch boundaries. They have demonstrated innovative business ideas that serve the needs of their target segment in tangible ways. We are pleased to observe that the innovation spirit is very much alive among the young and small businesses in Singapore. This bodes well for the future of Singapore businesses. It is indeed our pleasure to partner them in their journey ahead with our business solutions. Congratulations to all the winners!”
For more information on Emerging Enterprise 2012, visit EE2011 website (www.asiaone.com/EE2012).
Appendix 1 - EE2012 factsheet (1 June 2012)
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Appendix 2 - EE2012 Judging Panel (1 June 2012)
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Appendix 3 - Profiles of EE2012 finalists (1 June 2012)
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Appendix 4 - Past EE winners - EE2008-2009-2010-2011 (1 June 2012)
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Appendix 5 - EE2012 Partners' write-ups - NUS Ext_RSM_SPRING_Acorn_SingTel_ (1 June 2012)
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Appendix 6 - EE2012 finalists - contact details (1 June 2012)
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Appendix 7 - OCBC_Speech by Mr Linus Goh_1Jun12
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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.
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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 “Outstanding Private Bank in Asia Pacific” by Private Banker International.
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