Singapore, 5 June 2009 – The Business Times and OCBC Bank, co-presenters of the Emerging Enterprise 2009 (EE 2009), unveiled Singapore’s top 3 most promising small enterprises at the Gala Dinner and Award Ceremony this evening.
Allalloy Dynaweld Pte Ltd, PurpleClick Media Pte Ltd and Screentech Display Pte Ltd each received S$360,000 worth of prizes comprising interest free loans, grants, education and consulting packages - useful resources that will help them grow their businesses in both good and bad times.
For the first time, a Special Award for Product Innovation will also be given out to celebrate and recognise the spirit of innovation amongst our homegrown enterprises. This year, the Special Award for Product Innovation goes to XMI Pte Ltd for harnessing innovation and creativity to create a unique product that is well-sought by customers across the globe.
Inaugurated in 2008, EE09 is one of the key annual entrepreneurial awards that reaches out to the smaller enterprises with sales turnover of less than S$10 million per annum. The Award’s co-partners are SPRING Singapore, NUS Extension and RSM Chio Lim, which is also the official auditor for EE2009.
Into its second year, EE2009 saw overwhelming response from the small and emerging business community, with the number of submissions received more than tripling last year’s. Many of the submissions demonstrated growth potential and extraordinary success in areas such as innovation, financial performance, and personal commitment to their businesses.
Mr Alvin Tay, Editor of The Business Times, said: “This year’s Emerging Enterprise finalists are very passionate about their business and knowledgeable about their products and industry. They show great potential in spite of the current challenging economic times and this augur well for the Singapore economy. Overall, we are pleased with the positive and enthusiastic response for EE2009.”
Said Mr Tan Chor Sen, Head of Emerging Business, Enterprise Banking, OCBC Bank:
“This year’s competition is extremely keen given the overwhelming response and the quality of the submissions we have received. The three winners stood out from their peers as they have impressed with their business propositions and ability to ‘recession-proof’ their businesses. They have also proven that size does not matter when it comes to successful entrepreneurship.
In fact, being smaller in scale has enabled them to be nimble and able to steer through the ever-changing and challenging business environment.”
Ms Choy Sauw Kook, Assistant Chief Executive, SPRING Singapore, said: “We are delighted at the quality of this year’s finalists. Many of them have unique and sustainable business models, practical and well thought out growth strategies in niche areas, a clear and well-defined vision and of course, a dedicated and passionate management team. These qualities will help stand them in good stead and buffer their businesses against the current global downturn. I encourage the winners to use the funds and training given as part of the Emerging Enterprise 2009 award to build their capabilities to drive their future growth.”
Mr Lim Lee Meng, Senior Partner of RSM Chio Lim, said: "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, said: "We congratulate the 3 winners on their achievement. At NUS Extension, we play our part in helping businesses through our comprehensive suite of training programmes that will help them expand their capabilities. We would take this opportunity to call on SMEs to take their business to a greater height in more creative and innovative ways.”
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About OCBC Bank
OCBC Bank is Singapore’s longest established local bank. It has assets of S$180 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 360 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 www.ocbc.com
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.
About Singapore Press Holdings Ltd
Main board-listed Singapore Press Holdings Ltd (SPH) is Southeast Asia's leading media organisation, engaging minds and enriching lives across multiple languages and platforms. It publishes 17 newspaper titles in four languages and over 100 magazine titles in Singapore and the region. Every day, 2.9 million individuals or 79 percent of people above 15 years old, read one of SPH’s news publications. SPH’s internet editions of its major newspapers enjoy over 150 million page views with 9 million unique visitors each month. Other new media initiatives include AsiaOne, omy, rednano.sg, ST701, STOMP and The Straits Times RazorTV. SPH has also ventured into broadcasting, outdoor advertising and properties.