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Nominations open for 2019 Enterprise 50 Awards

NOMINATIONS are now open for the 2019 Enterprise 50 (E50) Awards, which recognise the 50 most enterprising privately owned local companies in Singapore.

Organised by KPMG in Singapore and The Business Times (BT), the annual awards were launched on Tuesday by Heng Swee Keat, Minister for Finance and chairman of the Future Economy Council, at the Andaz Singapore.

Nearly 200 corporate leaders from more than 100 local enterprises attended the launch of the awards, which are in their 25th year.

Jonathan Ho, head of enterprise market at KPMG in Singapore, said: “Reaching the 25th year of these prestigious awards is a milestone. We have created history in the past, with more than 500 winners, and more than a hundred of them have gone on to be listed on the Singapore Exchange and other bourses in the region.

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“We are confident that E50 will continue to unearth more gems as it evolves to be inclusive of future economy enterprises.”

Said BT editor Wong Wei Kong: “We are proud to be able to recognise and honour the outstanding local enterprises for their accomplishments in the highly competitive business environment. We are happy to play our part in bringing to greater light the stories of these enterprises, and how they have overcome the challenges they have faced.”

Participants are ranked on a set of qualitative criteria including their business model, productivity and innovation, management ideals and governance, risk management and market presence in the region and beyond. A set of quantitative performance indicators over a three-year period is also taken into consideration.

This year’s awards will feature three special awards, including a 25th Year Digital Economy Award.

“This award will be given to an enterprise that could be the next billion-dollar company in the near future,” said KPMG's Mr Ho. “We have seen Singapore raise several such enterprises, and we would like the pleasure in identifying the next one. This will open up the awards to include future economy enterprises which have a very different business model.”

The criteria for the Digital Economy Award will include the business model, degree of innovation and technology adoption, gross market valuation of the company, the amount of funding raised, revenue growth and a Singapore presence.

The Special Recognition – Internationalisation Award will seek to identify a local enterprise that has expanded overseas, while the Special Recognition – Enterprise Transformation Award seeks an enterprise that is best able to adopt a business model to achieve productivity gains, sustainable growth and the ability to move into higher value-added activities.

Nominations for the 2019 E50 Awards close on June 30. The 2019 Enterprise 50 list will be published in the fourth quarter of 2019, in conjunction with an awards gala dinner.

Supporters of the awards include Enterprise Singapore, the Singapore Business Federation and the Singapore Exchange. OCBC Bank returned as the main sponsor of the E50 Awards for the 14th consecutive year.