REACHFIELD Security & Safety Management Pte Ltd, a 20-year-old provider of integrated security manpower and technology solutions, took the top spot among 50 winners in the 27th edition of the Enterprise 50 (E50) Awards on Friday (Dec 17).
Despite disruptions to manpower during the pandemic, Reachfield boosted productivity by integrating innovative technologies into its operations, such as video analytics.
Welding equipment and solutions provider AllAlloy Pte Ltd won their sixth E50 award, coming in second place this time. The company kept ahead of consumer trends by diversifying into sustainable products for personal and environmental safety, as well as those used by wind energy fabricators.
Third place went to Utracon Overseas Pte Ltd, a construction company specialising in post-tensioning and bridge construction. It also received a sustainability special mention for its innovative construction methods that optimise the use of materials.
The E50 Awards, established in 1995, recognise the 50 most enterprising local privately-held companies that have contributed to the economic development of Singapore, both at home and abroad.
At a ceremony held at The Ritz-Carlton, Millenia Singapore, the awards were presented by guest of honour Tan See Leng, Second Minister for Trade and Industry.
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In his opening remarks, Dr Tan said this year's E50 theme - "Innovating for a Sustainable Future"- was forward-looking and appropriate, and encouraged enterprises to capitalise on new areas for growth despite the challenges posed by Covid-19.
"The pandemic has... not just nudged but shoved and pushed businesses to rethink, to relook, as well as examine business operating models, innovation, transformation, pivoting, and digitalisation," said Dr Tan.
Noting the launch of the Singapore Green Plan 2030 and the growing urgency of the global climate imperative, he said: "As we move towards lower-carbon energy sources, companies will need to embark on reskilling their workers to ensure a smooth transition for the development as well as the deployment of low carbon solutions - which is another avenue for workers and enterprises to capture growth opportunities in the green economy.
"We invite companies to use Singapore as a base to develop and export low carbon energy solutions to the region or to invest in related infrastructure."
The event, attended by 140 guests, also saw a panel discussion in which Dr Tan was joined by four other speakers: Ling Su Min, partner, head of clients, markets and innovation, at KPMG in Singapore; Lee Hwee Boon, managing director and head of middle market and services, global enterprise banking, at OCBC; Susan Chong, founder and chief executive officer of Greenpac, and president of the E50 Association; and Mark Lee, managing director of Vac-Tech Engineering. The discussion was moderated by Dylan Tan, membership editor of The Business Times.
Asked by Chong if Singapore should look beyond "traditional source countries" for manpower, Dr Tan - who is also Manpower Minister - said: "We are reviewing. I think it's one of those refinements..that the whole of government constantly looks at. I think it's important that as a small country we need to constantly be nimble and agile, and particularly with disruption."
Three "special recognition" awards were also presented on Friday. The Special Recognition - Internationalisation Award went to MLION Corporation, a steel solutions supplier, for winning numerous projects across Asia.
Oilfield Services & Supplies Pte Ltd, a manufacturer of drilling tools and components for the oil and gas industry, received the Special Recognition - Enterprise Transformation Award.
Oilfield Services & Supplies Pte Ltd also won the Special Recognition - Five-Year Award, which was given to 2 other companies as well: chocolate manufacturer Aalst Chocolate Pte Ltd and building construction services provider QXY Resources Pte Ltd. The award recognises consistent excellence in making the E50 list over the last 5 years.
Wong Wei Kong, editor of The Business Times, noted that since inception, the E50 Awards have been at the forefront of recognising and acknowledging the best of local enterprises in Singapore.
"The winners this year had to navigate the Covid-19 pandemic, were forced to adapt quickly and react forcefully, and had to find not just resilience but also new paths of growth. We hope their leadership, creativity and determination will inspire other companies too to rise to the challenges of today's complex environment," he said.
Jonathan Ho, partner and head of private enterprise at KPMG in Singapore, said that with the increasing importance in environmental, social, and corporate governance (ESG), firms are considering what this means to them in terms of sustainable corporate growth and competitive advantage - even as they rapidly build and scale ways to solve business challenges while keeping their company agile.
"The pandemic has hit enterprises hard, but those who had persisted with continuous innovations would have found themselves well positioned to deal with or thrive amid the crisis - which we see in the winners we are honouring today," said Ho.
The E50 Awards are jointly organised by The Business Times and KPMG in Singapore, and sponsored by OCBC. Supporters of the awards include Enterprise Singapore, the Singapore Business Federation and the Singapore Exchange.
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