Applications open for Enterprise 50 Awards 2026 nominations
This year’s theme is ‘Future-Proofing Growth Through Innovation’
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[SINGAPORE] Nominations are now open for the annual Enterprise 50 (E50) Awards, which will recognise 50 local, privately owned businesses that have contributed to Singapore’s economic development, both at home and abroad. Companies have until Jun 30 to submit their applications.
Established in 1995, the awards are jointly organised by The Business Times and KPMG in Singapore, sponsored by OCBC and supported by Enterprise Singapore, the Singapore Business Federation and the Singapore Exchange Group.
It honours excellence in enterprise, resilience and forward-looking leadership. Applicants will be evaluated on a combination of quantitative and qualitative criteria, including financial performance, business strategy, governance, branding and growth potential.
Winners will be invited to attend the E50 awards ceremony and gala dinner, held in the fourth quarter of the year.
Poh Heng Jewellery took the top spot last year.
Innovation and the future
The theme of this year’s E50 Awards is “Future-Proofing Growth Through Innovation”, highlighting the critical role of innovation as a catalyst for transformation, enabling companies to anticipate market shifts and adjust their strategies.
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Innovation is key to sustainable growth in today’s rapidly changing global landscape shaped by constant technological advancements, including artificial intelligence (AI) and digitalisation, said BT editor Chen Huifen.
“We hope that the E50 Awards this year will encourage businesses to foster a culture that promotes experimentation, continuous learning, and strategic agility, and inspire others to do the same, ultimately contributing to Singapore’s economic development and societal progress.”
Chiu Wu Hong, partner and head of private enterprise at KPMG Singapore, said: “We’re at an inflection point where AI is redefining competitive advantage across industries.”
“The gap between early movers and late adopters is widening rapidly.” He added that technologies such as low- and no-code platforms have democratised access, but strategic execution and speed of adoption remain the differentiators.
“We’re inviting submissions from enterprises redefining what’s possible and shaping the future of business in Singapore.”
In conjunction with the launch of E50 Awards 2026, BT senior correspondent Dylan Tan spoke with Phyllis Ong, group chief executive officer of precision engineering manufacturer Armstrong Asia. In a virtual fireside chat, they discussed how local firms can maintain a competitive edge through a pioneering spirit.
In a volatile environment, if workers only work harder, with no real change, the company could lose to competitors, Ong said. This is why Armstrong decided to look at “the new business as usual”, while investing in the future, she said.
In the past eight years, the group has cut 1,000 staff – from 3,800 to 2,800 – as part of its digital transformation journey, as it recognises that it cannot be too dependent on labour. (see amendment note)
It has invested more than S$10 million over the last four years into making “massive changes” to manual processes, for more standardised and streamlined data and systems.
To innovate, Armstrong has looked at organisation redesign – including redeploying experienced leaders and engineers into different areas – and redesigning areas such as supply consolidation.
The company has set up a regional innovation centre, which serves as a platform for engineers and other teams such as procurement and sales to participate in anticipating customer and market expectations.
Key to a business’ success is “customer stickiness”, Ong said, adding that creating this is a continuous process.
“Do not assume today, because the customers are very dependent on you, that things will not change. So continue to construct and design and strategise for deep customer stickiness that goes over and beyond your physical product.”
Armstrong has also learnt to stay open to collaboration.
“I have more conversations with my indirect competitors, because they know our business as well, if not better, than we do, and we also know their business very well,” said Ong, adding that they talk about how they see the world, trends and customer behaviour.
On convincing stakeholders that staying safe is a risk to growth, she said: “One of the very important starting points is to acknowledge how we got here.”
By recognising lessons learnt and points to take forward, as well as by building trust, stakeholders are more assured, she explained.
Since its inception, the E50 Awards have honoured more than 700 companies, of which over 100 have gone on to list on both local and overseas stock markets.
Top winners can expect extensive media coverage, helping them raise their public profile and unlock greater business opportunities.
BT also publishes an E50 supplement in conjunction with the E50 gala dinner.
Interested companies can apply at https://www.businesstimes.com.sg/events-awards/enterprise-50/how-to-apply
Amendment note: The story has been revised to reflect the correct number of staff employed by Armstrong.
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