Six private enterprises were recognised as inaugural winners of Singapore’s Best Managed Companies awards program yesterday, July 1, at a ceremony held in the Singapore marriott Tang Plaza Hotel. 

The awards program recognises top privately-owned Singapore companies, with annual revenues of over US$25 million, for their organisational success and contribution to the industry and economy. 

The winners were Cityneon Holdings, KinderWorld International Group, Lian Beng Group, LUXASIA, Nanofilm Technologies International and OSIM International. 

Richard Loi, Southeast Asia and Singapore Deloitte private leader states that “the winning companies have shown great resilience in their respective fields, proving that longevity is about sound management even when faced with adversity.”

The Singapore awards are derived from Deloitte’s global Best Managed Companies awards programs.  

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Companies who are eligible for this award program are shortlisted and the winners are determined by an independent judging panel comprising business and academia representatives. 

The panel would evaluate their management skills and practices, including having their business strategy and operations analysed and benchmarked against an evaluation framework that is applied to the 1000-strong community of best managed private companies across the world. 

The evaluation of the Singapore awards is based on more than 25 years of observed practice from the global awards program that has been rolled out to 37 countries worldwide.

This process can help companies sharpen strategies and derive valuable insights to help them set projections to optimise business growth. 

This year’s jury members are Victor Mills, chief executive of Singapore International Chamber of Commerce, Daniel Simonovich, professor of strategy at INSEAD, and Ng Jiak See, financial advisory leader at Deloitte Asia Pacific.