New award to honour foreign brands in Singapore

Singapore

A NEW award category was launched on Tuesday to honour foreign brands that have been growing their presence in Singapore, as part of the Singapore Prestige Brand Awards (SPBA).

Known as the SPBA - Global Brands award, it aims to recognise the efforts of foreign brands that have been established here for at least the past five years. This comes on the back of Singapore's success as an international business hub, which has drawn many international businesses to use the country as a springboard to expand to the region.

Jointly organised by the Association of Small & Medium Enterprises (ASME) and Lianhe Zaobao, the SPBA is now in its 18th year of recognising the best brands in Singapore.

Leveraging on this year's theme "Brands of the Future", the awards aim to fete brands that are forward-looking and transformative, and well poised to achieve greater growth in Singapore and beyond.

Aside from the Global Brands award, SPBA 2019 will comprise five other categories: Promising Brands for brands established for three to eight years, Established Brands for brands established for more than five years, Heritage Brands for brands established for more than 25 years, Regional Brands for brands established for at least three years and have a presence in at least three foreign markets, and Special Merit for government agencies and not-for-profit organisations.

An SPBA - Most Popular Brand winner will also be selected via public voting for each category, with the exception of SPBA - Special Merit.

Chew Lee Ching, chairman of the SPBA 2019 Organising Committee, explained that the rationale behind the 2019 theme came from a recurring refrain from the country's leaders for Singaporeans to "reflect on the twists and turns in our history, so as to chart a path forward for an even better future", riding on the waves of technological advancements, digitalisation and internationalisation.

Ms Chew said: "To borrow a quote from a wise marketer, although no brand can go back in time to make a new start, any brand can start from now to build a new ending. Brands are fluid and those with the ability to innovate, morph with the times, and keep pace with accelerating consumer change are the ones which will secure their place in the future."

The award winners will be announced in September, while the SPBA award presentation ceremony will be held in November.

Since 2002, the SPBA has celebrated over 450 unique local brands.

RHB Singapore returns as the Official Bank for the SPBA 2019, while Singapore Airlines has also returned as the Official Airline for the event.