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The Business Times and OCBC Bank announce first winners of inaugural Emerging Enterprise 2008 awards

Singapore, 21 May 2008 – The Business Times (BT) and OCBC Bank, co-presenters of the Emerging Enterprise 2008 (EE2008), are pleased to announce the inaugural event´s first award winners.

McCoy Components Pte Ltd, a leading semiconductor distributor; OAAG (S) Pte Ltd, an organiser of golf clinics and events for corporate clients; and Scrawl Studios Pte Ltd, an animation company specialising in creating and producing original animated titles for TV audiences each receive $380,000 in interest-free loan, grants, consultancy services, as well as educational and information technology packages. They were judged on the following criteria –

a. Mission and Vision
b. Milestones and Challenges
c. Management team
d. Business model
e. Business structure
f. Utilisation of prize money

Mr Mike Tiong, Managing Director of McCoy Components Pte Ltd, Mr Nicklaus D´Cruz, Chief Executive Officer of OAAG (S) Pte Ltd and Mr Wong Chi Kong, Chief Operations Officer of Scrawl Studios Pte Ltd received their EE2008 trophies from the Guest of Honour, Mr Lee Yi Shyan, Minister of State for Trade and Industry at the award ceremony at the Raffles City Convention Centre this afternoon.

Quote by Alvin Tay, Editor, The Business Times:

“We are impressed by the passion and dynamism shown by all the nine finalists. They have qualities that other SMEs can learn and emulate. The three winners stood out as they have a strong business model and products which command compelling marketing potential. Overall, I am pleased with the number of applications received for this inaugural year of the Emerging Enterprise Awards, especially with the diversity of applicants in terms of management backgrounds and industries which the companies operate in.”

OCBC Bank, the co-presenter of the Emerging Enterprise award, has been committed to the growth and development of the homegrown enterprises since the 1930s. The bank constantly engages the SMEs from the time when they are small companies, and support them through their different stages of growth, up to a time when they grow to the size of a large corporate.

Said Mr George Lee, Head of Group Investment Banking, OCBC Bank: “The winners of the Emerging Enterprise Award may be new players in their line of business with smaller turnover, but nevertheless, they have impressed with their strategic visions, business models and the courage to dream big.

They did not let their size get in the way of their pursuit of business growth and success as they ventured beyond the shores of Singapore, and broke new grounds in creating new frontiers in both new and matured industries. At the end of the day, they have shown that it is the entrepreneurs´ drive, passion and determination that placed them in a league of their own. Size doesn´t matter."

As a show of confidence in the winners and staking our commitment to promoting their business growth, OCBC Bank is taking an equity option to invest in these companies.

Added Mr Tan Chor Sen, Head of Emerging Business, Enterprise Banking, OCBC Bank:

“The winners have shown tremendous potential and true mettle as they were not afraid to take on the more established global players in their fields. Although their journeys have been challenging, they have managed to take their business to great heights. Together with our Award partners, we believe the $380,000 in prizes and services will give a boost to their business as they continue to seize the opportunities that come their way even as we face uncertain economic times ahead.”

Quote by Ms Choy Sauw Kook, SPRING Singapore’s Group Director for Enterprise Capabilities:

"We are delighted at the quality and the diversity of the applicants. Many of them have the potential for fast and sustainable growth. In particular, the winners have sustainable business models driven by good management teams who have the passion and commitment to achieve their vision. These are qualities that will stand them in good stead through economic ups and downs. In the period of moderate growth that is ahead, I encourage them to make full use of the funds, expertise and training given as part of the Emerging Enterprise 2008 award to build their capabilities and reposition themselves for the future.”

Ms Serena Yong, General Manager, Personal Systems Group & Small & Medium Business Segment, HP Singapore:

"It was no easy feat to select the three winners for Emerging Enterprise 2008 as the finalists have shared sound business growth strategies. In addition, many of the finalists have demonstrated deep understanding on how technology plays a critical role to support their business growth. HP is honoured to be the I.T. sponsor for Emerging Enterprise 2008, and look forward to provide the suitable portfolio of technology products and solutions to enable the three winning enterprises’ to transform their business and bring it to a new level of success."

Mr Lim Lee Meng, Senior Partner of RSM Chio Lim:

"It is heartening to note that most of the applicant companies are driven by young management teams with lots of drive and the passion to succeed. For example, though small in size and only a few years in operation, some have ventured overseas to seize business opportunities and expand their businesses. They have shown that they have what it takes to soar; hopefully a few will take off faster with a little help from the participating sponsors."

Mr James Tay, Director NUS Extension:

On behalf of NUS Enterprise, I wish to express my congratulations to the nine finalists, in particular the winners of Emerging Enterprise 2008. SMEs are one of the driving forces behind our economy. This inaugural award is our way of recognising their contributions, and to show our commitment in helping and nurturing them with the suite of training programmes offered by NUS Extension.”

For more information on Emerging Enterprise 2008, visit


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About OCBC Bank

Singapore’s longest established local bank, OCBC Bank, currently has assets of S$180 billion and a network of over 460 branches and representative offices in 15 countries and territories including Singapore, Malaysia, China, Hong Kong SAR, Brunei, Japan, Australia, UK and USA. This network includes more than 350 branches and offices in Indonesia operated by OCBC Bank´s subsidiary, PT Bank NISP. OCBC Bank and its banking subsidiaries offer a wide range of specialist financial services, from consumer, corporate, investment, private and transaction banking to global treasury and stockbroking services to meet the needs of its customers across communities.

OCBC Bank´s insurance subsidiary, Great Eastern Holdings, is the largest insurance group in Singapore and Malaysia, in terms of assets and market share, and its asset management subsidiary, Lion Capital Management, is one of the largest asset management companies in Southeast Asia.

Additional information may be found at

About The Business Times

The Business Times (BT), a member of the Singapore Press Holdings group, is firmly established as 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 +0800) and to offer news updates throughout the day.

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 speciality pages, a daily take on the health of the Singapore economy and dedicated regional pages.

BT Online:

About Singapore Press Holdings Ltd

Newspapers and Magazines
Main board-listed Singapore Press Holdings Ltd (SPH) is the leading media company in Singapore, delivering news and information through print, Internet and broadcasting platforms. In Singapore, it publishes 14 newspapers in four languages. Every day, 2.9 million individuals or 81 percent of people above 15 years old, read one of SPH’s news publications. SPH also publishes and produces more than 100 magazine titles in Singapore and the region, covering a broad range of interests from lifestyle to information technology.

Internet and Mobile
Beyond print, the Internet editions of SPH newspapers enjoy over 110 million pageviews with 7 million unique visitors every month. Apart from SPH AsiaOne portal, SPH’s online and new media initiatives include a revolutionary mobile advertising and information service, ZapCode; online marketplace for products, services and employment, ST701; and STOMP (Straits Times Online Mobile Print), a portal that connects, engages and interacts with readers on the Web and via mobile phone messaging.

SPH has a 20 percent stake in MediaCorp TV Holdings Pte Ltd, which operates free-to-air channels 5, 8, U and TV Mobile, and a 40 percent stake in MediaCorp Press Pte Ltd, which publishes the free newspaper, Today. In the radio business, SPH has a 80 percent stake in SPH UnionWorks Pte Ltd, which operates entertainment stations Radio 100.3 FM in Mandarin and Radio 91.3 FM in English.

Outdoor Advertising
In addition, SPH has ventured into outdoor advertising through its wholly-owned subsidiary, SPH MediaBoxOffice Pte Ltd, Singapore´s largest outdoor motion display advertising network media company, and a 35 percent stake in TOM Outdoor Media Group, a leading outdoor advertising company in China.

SPH owns and manages Paragon, the prime retail and office complex in the heart of Orchard Road, Singapore’s main shopping belt. SPH’s wholly-owned subsidiary, Times Development Pte Ltd, is also developing a 43-storey upmarket residential condominium, Sky@eleven, at Thomson Road.