Singapore, 23 March 2021 – At the 26th edition of the Enterprise 50 (E50) Awards, a fresh lineup of 50 local businesses were recognised and honoured for displaying outstanding resilience, innovation and entrepreneurial spirit in the face of incredible adversity over the past year.
Mobility equipment supplier Raduga Pte Ltd clinched the top spot, while the runner-up position was secured by TOP International Holding Pte Ltd, a key player in the energy and resources industry specialising in the mining and exportation of bauxite. The top three was completed by BR Metals Pte Ltd, one of Asia's largest processors of end-of-life scrap catalytic converters, an emission-control device found in both gasoline and diesel vehicles.
Guest-of-Honour Dr Tan See Leng, Second Minister for Trade and Industry and Second Minister for Manpower, presented the awards at the Park Royal Marina Bay. While the E50 Awards maintained its tradition of announcing the winners at a Gala Dinner Night, the event was streamed virtually for the first time this year, with the new reality of social distancing guiding the size of the audience at the venue. The theme for 2020, ‘Extraordinary times, Exceptional resilience’, underlined the tenacity and ingenuity of local enterprises as they adroitly pivoted to digital and sustainable ecosystems amid the fiercest of economic storms.
“While the pandemic tested our endurance and resolve to the fullest, it also provided myriad transformational opportunities for businesses. We are extremely proud of the winners, who have not only adapted to the rapid changes in the business landscape but tapped on impressive reserves of creativity and energy to emerge stronger from this global crisis,” said Mr Jonathan Ho, Partner, Head of Private Enterprise at KPMG in Singapore. “As we look ahead beyond these turbulent times, small-and medium-sized enterprises will be key catalysts of growth for Singapore. We are committed to putting resources behind our local enterprises to fuel their efforts to digitalise, innovate and adopt sustainable strategies, while managing the twin challenges of rising costs and the need to right skill, reskill and upskill their workers in the digital economy.”
Additionally, Legend Logistics Ltd won the Special Recognition – Internationalisation Award, while Omni-Plus System Pte Ltd emerged as the recipient of the Special Recognition – Enterprise Transformation Award.
Founded in 2012, Legend Logistics has grown into one of the most diversified transportation companies in Asia and the Oceania, with 10 regional offices in seven countries. It is a one-stop logistics provider for heavy haulage, bulk liquid, dry commodities, perishable products and oversized cargos.
With business operations across Thailand, Malaysia, Indonesia, Vietnam, the Philippines and China, Omni-Plus System distributes polymer products - plastic resins, magnetic materials and medical peripherals - from the world's leading manufacturers and offers material management services to complement the planning and logistics of its customers.
Landscaping company Mao Sheng Quanji Construction Pte Ltd won the Special Recognition – Five-Year Award for displaying consistent excellence as a fixture in the E50 list over the past five years. Starting out as a one-man operation in the 1980s, Mao Sheng Quanji now has an award-winning team of landscape managers, designers, horticulturists, arborists, nursery specialists and landscape technicians to service its clients.
“This year’s E50 winners not only showcase Singapore’s finest privately held homegrown enterprises, but also exemplify the grit and entrepreneurial mindsets of the local business community. The success of local enterprises will be critical to Singapore’s emergence in the post-crisis world and we are confident that the winners will go from strength-to-strength and be a source of inspiration to other businesses and entrepreneurs,” said Mr Wong Wei Kong, Editor of The Business Times.
Nominations for the next edition of the E50 Awards open on 23 March 2021. As Singapore moves towards a greener and more sustainable economy, the theme for the 2021 Awards is “Innovating for a Sustainable Future”.
Singapore’s ‘Emerging Stronger Together’ Budget 2021 has laid the groundwork for the country’s push towards a Green Economy that is driven by innovation and sustainability. Some of the recommendations to boost innovation in Budget 2021 included the New Corporate Venture Launchpad, Enhanced Open Innovation Platform, and Enhanced Global Innovation Alliance, while a wide range of capital was also unlocked to enhance sustainability and provide a fillip to growth.
Organised by The Business Times, the financial daily of Singapore Press Holdings, and KPMG in Singapore, the highly coveted annual E50 awards are regarded as a benchmark of excellence for local enterprises in today’s competitive business environment.
In championing local businesses and inspiring future generations of entrepreneurs and leaders, E50 collaborates with the National University of Singapore (NUS) Business School annually to preserve the success stories of our award winners in a commemorative coffee-table book. Every year, a limited number of copies signed by the Guest-of-Honour will be sold for S$5,000 each to raise donations for the NUS Business School Bursary Fund. A total of over S$641,920 has been raised as of December end 2020.
The full winners list for E50 Awards 2020 can be found in Annex A.
Quotes from key award winners are enclosed in Annex B.
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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 KPMG in Singapore
KPMG in Singapore is part of a global network of independent professional services firms providing Audit, Tax and Advisory services. We operate in 146 countries and territories and in FY20 had close to 227,000 people 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. For more information, visit kpmg.com.sg.
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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 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 about 560 branches and representative offices in 19 countries and regions. These include over 290 branches and offices in Indonesia under subsidiary Bank OCBC NISP, and over 90 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. 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. It also operates Asia’s only multi-partner, multi-asset exchange-led sustainability platform (sgx.com/first). 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 over 80% of listed bonds originating outside of Singapore. SGX is the world’s most liquid international 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. For more information, please visit www.sgx.com.