(Oct 23): Shi Xu, CEO of Nanofilm Technologies International, was named overall winner of this year’s EY Entrepreneur Of The Year (EOY) awards on Oct 13. NTI specialises in coating parts and surfaces with an ultra-thin layer of carbon to protect them from wear and tear. Shi will go on to represent Singapore at the EY World Entrepreneur of the Year event in Monaco in June next year.

Shi was selected from four category winners of the EOY awards this year. The other three category winners were Derrick Yap, CEO of PBA International, in the Diversified Engineering category; Lennon Tan, group chairman of JK Tech Group, in the Financial Technology Enablement category; and Chia Yoong Hui and Sia Teck Chong, both of Ascenz, in the Maritime Technology Solutions category. Chia is founder, chairman and CEO while Sia is co-founder and chief technical officer.

EY also presented the Family Business Award of Excellence, co-sponsored by Standard Chartered Bank, to the Tolaram Group. The company manages dozens of brands under its consumer goods business, which spans 75 countries.

Shi sees being named EOY as an inspiration for his future work. “Technology, adaptability, perseverance and teamwork are key to winning the race in the face of an ever-changing world,” he says in a statement.

In an earlier interview with <i>The Edge Singapore</i>, Shi says he is constantly on the lookout for new ways to serve NTI’s customers and industry. NTI has been supplying the automotive industry with coated parts for the internal combustion engine, and as the industry shifts to electric vehicles, Shi sees potential new products and approaches.

At the EOY awards gala, held at The Ritz-Carlton, Millenia Singapore, guest of honour Ong Ye Kung, minister for education (higher education and skills) and second minister for defence, highlighted the need for Singapore to foster entrepreneurs, listing initiatives by the public and private sectors to encourage students to become entrepreneurs.

Max Loh, Asean and Singapore managing partner at EY, says: “Singapore has been relentless in driving entrepreneurship since more than two decades ago. To accelerate the momentum, the onus is on each and every one of us — whether policymakers, corporates, education institutions or aspiring individuals — to champion new ideas, question conventional wisdom and reset thinking and boundaries.

“In a disrupted environment where size and scale matter no more than resilience and agility, many businesses will falter amid unfamiliar conditions while others, like our winning entrepreneurs tonight, stand tall outside of their comfort zones. A common quality distinguishes them, and that is having the courage to lead astutely and disruptively.”

Says Judy Hsu, CEO of Standard Chartered Singapore: “Entrepreneurs are a critical part of our economy and society. The winners of the EOY Awards amplify the entrepreneurial spirit that businesses and Singapore would need to chart a meaningful future. From passion, leadership, innovation, ambition to foresight — these qualities inspire others to be the best that they can be.”

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