50 firms honoured at Golden Jubilee Business Awards ceremony

Singapore

SINGAPORE companies have come a long way since the 1960s, and it is "imperative" for businesses to remain competitive as the country moves into the next 50 years and beyond.

Singapore Business Federation (SBF) chairman Teo Siong Seng said this on Wednesday as 50 major local companies, many of them household names, were honoured at the Singapore Golden Jubilee Business Awards for their achievements and contributions over the decades.

The awards committee comprised the SBF, the Accounting and Corporate Regulatory Authority and business information service provider DP Information Group.

Among the recipients were Cathay Organisation, Hong Leong Investment Holdings, OCBC Bank, Keppel Land, Sing Lun Investments and Yeo Hiap Seng.

The youngest company, investment holding firm Lien Ying Chow Pte Ltd, turned 59 this year, and the oldest, engineering services group Boustead Singapore, is 187 years old.

The managements of these companies were presented the awards by Finance Minister Heng Swee Keat at the SBF's Semi-Centennial Leadership Conference.

Hong Leong Group executive chairman Kwek Leng Beng said in a statement that his company had "persevered, overcome challenges and grown in tandem with Singapore" over the years.

"I am humbled by this award, which recognises our contributions to our nation. We remain committed to support our government's efforts to take the country to the next level of development," he said.

Abu Bakar Mohd Nor, the managing director of another winner, Keppel Singmarine, said the company's 128-year heritage had put it in good stead and enabled it to grow with Singapore.

"Over the years, we have leveraged the Keppel Group strength and built up a strong track record, continuously innovating to improve ourselves," he said.

Mr Heng, in his speech before giving out the awards, noted that although the 50 companies all hail from different sectors, they are good examples of how Singapore has managed to create value and reinvent businesses.

"These businesses stayed mindful of domestic and global changes, to ensure that their businesses remained relevant to the needs of their time. We need to continue to embody this pioneering spirit," he added.