Two honorary excellence awards to be presented

TWO honorary awards were conferred - one each for entrepreneurial excellence in Asean and family business excellence - at the annual EY Entrepreneurship Awards event this year.

Djoko Susanto, Founder of PT Sumber Alfaria Trijaya Tbk in Indonesia, is named the winner of this year's EY Asean Entrepreneurial Excellence Award.

It is an honorary award that is presented on the Entrepreneur Of The Year (EOY) platform, and recognises successful South-east Asian businesses that contribute to the economy and community in the region. The award recipient does not compete for the Entrepreneur Of The Year Singapore 2021 title.

"From humble beginnings in running a modest grocery stall to leading a large retail business chain, Susanto's entrepreneurial journey and commercial success is remarkable and inspiring," says Max Loh, Singapore and Brunei managing partner, Ernst & Young.

With his astute business acumen and determination, Susanto has grown the company to more than 16,000 stores, which employ over 130,000 people across Indonesia and the Philippines.

Beyond the socio-economic impact made in terms of job creation, the company also gives back to the community, for example, through providing support and relief during the Covid-19 pandemic.

Says Susanto on learnings gained from the pandemic: "Building team spirit, focusing on consumers' needs and understanding the changes in behaviour, and being agile to adapt to situations quickly and accurately, are the three most important things in dealing with the Covid-19 pandemic."

His unflinching determination and strong entrepreneurial spirit brought about his success and achievements. The values of humility and integrity are deeply ingrained in his daily life.

The establishment of Alfamart in 1999, when Indonesia was undergoing challenging times, demonstrated his risk-taking mindset and long-term vision on the potential of the minimarket business and how it enables Indonesians to purchase groceries easily and conveniently.

PT Sumber Alfaria Trijaya Tbk (SAT), Alfamart, started its first store in Tangerang, Banten, Indonesia in 1999, and has now grown to be one of the largest and leading retailers of fast-moving consumer goods in Indonesia after its initial public offering in 2009.

Currently, it has a market capitalisation of around US$4 billion. Supported by 500 suppliers and 32 distribution centers, SAT serves over 4 million customers every day.

By integrating its offline and online business model through Alfagift Apps, offering ready-to-eat-and-drink food and beverage, and implementing a new concept of shopping with coworking space (Alfaexpress, Alfamart Drivetru, and AlfaX), SAT demonstrates agility in catering to changing consumer demand.

In another honorary award, Goldbell Group is named recipient of the EY Family Business Award of Excellence. The award recipient is jointly selected by knowledge partners, Business Families Institute @ Singapore Management University and the Wendel International Centre for Family Enterprise, Insead.

Says EY's Loh: "The Goldbell Group builds upon its legacy of shared values and culture established by its founding generation to anchor its core business, and at the same time, innovate and grow into new areas of business led by the second and third generations. Clearly, the entrepreneurial spirit continues to thrive in the family, as they seek to chart a sustainable and long-term strategy for the business."

Goldbell Group chief executive officer Arthur Chua says "Anticipating needs, surpassing expectations, forging valued relationships and driving forward as one - it is always more than just business for us."

Adds Goldbell Financial Services CEO Alex Chua: "The cornerstone of Goldbell's success lies in our 40-year legacy of strong values and culture, enduring partnerships and relationships, and market relevance. Receiving this award as the company's third generation is a great honour and recognises our continued commitment to further growing the Goldbell brand through innovation and change."

Goldbell Group is Singapore's largest player in leasing and distribution of commercial and industrial vehicles. It has been providing corporate financial services and industry-wide transport and logistic solutions, passenger and commercial vehicles, as well as material handling equipment for over 4 decades.

The EY Family Business Award of Excellence was launched in 2013 to recognise family enterprises that have made significant socio-economic contributions and demonstrated the ability to harmonise between business and family matters.

Family enterprises that have been honoured include Hong Leong Group, Far East Organization, the Kewalram Chanrai Group, BP de Silva Holdings, Eu Yan Sang International, Jebsen & Jessen (SEA), Tolaram Group and Sing Lun Holdings.