Deloitte Southeast Asia launches Best Managed Companies program in Singapore

SINGAPORE, 18 December 2019 – Deloitte Southeast Asia today announced the launch of the Best Managed Companies program in Singapore, which recognises the country’s most outstanding private businesses. This is a flagship program of Deloitte Private, which focuses exclusively on serving private clients of all sizes.

The Best Managed Companies program enables the executive teams of private businesses to benchmark themselves against some of the best private companies in the world. First established in 1993 in Canada, the program is now in 17 countries worldwide, and is a global symbol of organisational success.

Businesses that meet the five criteria listed below are eligible to apply for the Best Managed Companies program online (https://bestmanaged.awardsplatform.com) by 7 February 2020, at no cost. Applicants will need to:
a) Have an annual revenue of at least USD 50 million in the most recent accounting year,
b) Be in operation for at least five years,
c) Have majority shares privately-held in Singapore,
d) Be headquartered or incorporated in Singapore; and
e) Comply with all prevailing legal, tax and ethical frameworks within Singapore.

The program applies a sound and proven evaluation process to assess the businesses’ quality of management in areas including strategy, capabilities and innovation, culture and commitment, and governance and financials. This evaluation is based on 25 years of observed practice from the global Best Managed Companies awards.

During the program, shortlisted companies will receive professional tailored support from Deloitte specialists, who will assist in the undertaking of a detailed analysis of the companies’ businesses focusing on strategy and operations. This analysis is done by benchmarking these companies against the 1000-strong global community of best managed private companies. Business leaders will also learn of practical solutions that existing Best Managed leaders apply to drive initiatives within their business to sharpen strategies and optimise company growth.

At the end of the program, a judging panel consisting of business and academia representatives will review applicants based on the best practice, and determine the Singapore Best Managed Companies for 2020. Winners will be recognised at an awards ceremony in May 2020 and invited to a regional symposium in June 2020. They will also be given professional development opportunities, and will be able to network with existing Best Managed leaders through program events. Winning companies may apply and receive the certification of “Best Managed Companies” on a yearly basis if they continue to meet the selection criteria every year.

“We are very pleased to launch the Best Managed Companies program in Singapore. We believe that this program will shine a light on leading private businesses in Singapore, distinguishing successful quality companies for strategy, skills, commitment to people and performance. It will be our privilege to add value to these companies through this process, and be part of their growth journey and success,” said Richard Loi, Deloitte Private Leader for Southeast Asia and Singapore Leader for Best Managed Companies.

About Singapore’s Best Managed Companies program

The Singapore Best Managed Companies program is an awards program recognising privately held companies for their organisational success and achievement. The program provides a distinct framework for management teams to challenge themselves and benchmark against some of the best private companies in the world.

The Best Managed Companies program was established in 1993 in Canada and has become the most significant business award of its kind. The program is currently active in the Americas, Europe, Australia, China and Southeast Asia.

For more information on Deloitte Best Managed Companies program, visit https://www2.deloitte.com/sg/en/pages/deloitte-private/topics/best-managed-companies.html

About Deloitte

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