Showing resilience and innovation during challenging times

WHEN the going gets tough, the tough get going - the saying nicely sums up the grit and resilience displayed by the winning companies in the 26th edition of the annual Enterprise 50 (E50) Awards.

Despite the challenges and disruptions thrown at them by Covid-19, the winners took things in their stride and showed how transformation is vital in weathering the economic storm that the pandemic has brought on.

Top ranked company Raduga Pte Ltd, for instance, is no stranger to pivoting. It started out importing and exporting electronic items and household appliances before switching to mobile phones when founder Alfred Cheong saw a massive growth potential in telecommunications as Singapore started to position itself as a global infocommunications hub.

Likewise, second-placed winner Top International's business diversification efforts - from bauxite mining to farming and more - has helped it to mitigate risks like the pandemic. Its chief executive officer, Victor Tan, shared that recent hires at the company include a business and investment director, whose role is to uncover fresh venture potentials for the firm.

As for third-placed BR Metals, founder Frank Chen said the downtime during Covid-19 gave the company time to redesign its machines and processes; on top of exploring other business opportunities to diversify into.

Even as the global fight against Covid-19 continues, the groundwork for Singapore's push towards a green and sustainable economy is evident in this year's ''Emerging Stronger Together'' Budget presented last month by Deputy Prime Minister, Heng Swee Keat.

Hence the theme for the next edition of the E50 Awards will be ''Innovating for a Sustainable Future'', and nominations are now open.

The E50 Awards is jointly organised by The Business Times and KPMG in Singapore , and sponsored by OCBC Bank. Supporters of the awards include Enterprise Singapore, the Singapore Business Federation and Singapore Exchange.