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2009 Enterprise 50 Awards: Staying resilient and preparing for the upturn

Singapore, 28 April 2009 - The 2009 Enterprise 50 Awards opens for nominations today. Jointly organised by The Business Times, Singapore Press Holdings’ (SPH) leading business daily and KPMG in Singapore, the theme for this year's awards is business resilience in the current economic crisis.

The E50 Awards identify, support and pay recognition to enterprising, privately-owned local companies across all industry sectors in Singapore. It is perhaps the most definitive list of the fifty most promising local companies in Singapore today.

Mr Danny Teoh, Managing Partner of KPMG in Singapore, said: “KPMG is proud to be associated with the Enterprise 50 Awards this year for a second time. Beyond recognising excellence in local entrepreneurship, the 15 year legacy of the E50 awards in itself celebrates the endearing nature of local enterprise, as it has grown with them from strength to strength.”

“Local enterprises make up 95 percent of Singapore’s total enterprises and form the bedrock for innovation and entrepreneurship, strengthening our economy. No discussion about the state of the economy can take place without considering how local enterprises are doing in this recession,” he said, “Key themes which will feature in this year’s E50 awards selection process are therefore business resilience, and enterprises’ preparations for a future economic up-turn.”

Mr Alvin Tay, Editor of The Business Times, said: "BT is pleased to be co-organising the E50 Awards with KPMG again this year. It is important that we identify Singapore’s most promising enterprises in recognition of their commitment to the enterprising spirit. Their contribution will play a significant role as Singapore positions itself to take on the challenges during these difficult economic times.”

A highlight of this year’s launch event is a forum moderated by KPMG titled ‘Preparing for the upturn’, which discussed issues surrounding what enterprises must do to remain resilient in this downturn and prepare for an eventual up-turn.

Some of the issues discussed included strategies for coping with the current economic environment and what the longer term impact of this recession might be. Also discussed was what enterprises should be thinking about today, in preparation for a future economic upturn.

Quotes from past award winners are included in the annex.

Benefits of participation

Participants are evaluated both on quantitative and qualitative criteria. Quantitative criteria include financial performance indicators such as operating profit before tax, turnover and profit growth. Qualitative criteria include business model and innovations, management ideals and governance.

Past recipients said the benefits of being an E50 Award include enhancements in their business image, greater recognition by suppliers and customers, development of strategic business relationships, and a boost in staff morale.

A large number of past E50 companies have also used the ranking as a platform for public listing. To date, more than 100 companies which have received the award have successfully listed themselves on the Singapore Exchange (SGX).

Mr Linus Goh, Global Head of Enterprise Banking and Financial Institutions, OCBC Bank, said: “OCBC has a strong tradition of supporting local enterprises and is delighted to be the main sponsor for the E50 Awards for the fourth consecutive year. Over its 15 years, the Awards have recognised successful companies in both good times and bad, and we believe this year’s winners will continue to demonstrate the strength and adaptability of our home-grown enterprises."

Nominations close on 15 June, 2009 at 5.00pm. The 2009 Enterprise 50 list will be published in November 2009.

For further information please contact:

Jeremy Kong
Senior Executive, Marketing & Communications, KPMG in Singapore
Tel: +65 6507 1541 / 8189 1277

Kelvin Lee
Manager, Marketing & Communications, KPMG in Singapore
Tel: +65 6507 1534 / 8118 9400

Yeo Siew Chi
Assistant Manager, Corporate Communications, Singapore Press Holdings Limited
Tel: +65 6319 1586 (direct) / 9749 5105

About the Enterprise 50 Awards

The Enterprise 50 Awards, now in its fifteenth year, was created in 1995 to identify, support, recognise and reward enterprising privately-owned, local companies across all sectors. It has since become a definitive list of the fifty most enterprising, privately-held local companies in Singapore.

It is jointly organised by The Business Times and KPMG in Singapore, and sponsored by OCBC Bank. Supporters of the awards are the Infocomm Development Authority of Singapore, International Enterprise Singapore and SPRING Singapore.

Enterprise 50 nomination forms are available from the Enterprise 50 Secretariat
c/o KPMG
16 Raffles Quay #22-00
Hong Leong Building
Singapore 048581
E50 Hotline: +65 6507 1555

For more information, please visit

About The Business Times

The Business Times (BT), a member of the Singapore Press Holdings group, 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.

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.

For more information, visit

About KPMG in Singapore

KPMG in Singapore is part of a global network of professional services firms providing Audit, Tax and Advisory services. The independent member firms of the KPMG network operate in 144 countries and have more than 137,000 professionals worldwide. KPMG’s website is located at

About OCBC Bank

OCBC Bank is Singapore’s longest established local bank. It has assets of S$181 billion and a network of more than 480 branches and representative offices in 15 countries and territories including Singapore, Malaysia, Indonesia, China, Hong Kong SAR, Brunei, Japan, Australia, UK and USA. This network includes more than 370 branches and offices in Indonesia operated by OCBC Bank’s subsidiary, Bank OCBC NISP. OCBC Bank and its banking subsidiaries offer a wide range of specialist financial services, from consumer, corporate, investment, private and transaction banking to treasury and stock-broking 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 Global Investors is one of the largest asset management companies in Southeast Asia. Additional information may be found at