Announcing the winners of Singapore’s Best Managed Companies 2022

SINGAPORE, 15 September 2022 – Today, ten private enterprises will be recognised as winners of Singapore’s Best Managed Companies awards program at an awards ceremony at the InterContinental, Singapore this evening, 6pm. Now in its second year, Singapore’s Best Managed Companies awards program recognises top private local companies for their organisational success and contributions to their industry and the economy.

The prestigious award welcomes five new winners who have successfully qualified as a Best Managed company for the first time, along with five companies who have qualified to maintain their Best Managed status from year to year.

Cheung Pui Yuen, Chief Executive Officer, Deloitte Singapore, said: "Resilience and adaptability have been key for all businesses over the past two years. Leadership teams are constantly pivoting to ensure they advance their strategies, look after their people, evolve their governance structures and comply with ever-changing regulatory requirements. This is why, now more than ever, it is important to recognise the great leadership and resilience of Singapore-based companies that have allowed them to remain competitive and at the forefront of their industries. We are pleased to celebrate the 2022 winners of Best Managed Companies Singapore.”

The Best Managed Companies awards program is a well-regarded international awards program that applies a proven evaluation process to assess the quality of business management in a variety of areas including strategy, capabilities and innovation, culture and commitment, as well as governance and finance. First launched in Singapore in 2021, the evaluation of the awards is based on observed practice over more than 25 years of the global awards program that has been rolled out to 48 countries worldwide including Indonesia, Malaysia, Thailand and Vietnam within ASEAN.

Entrants to the program strive for this prestigious designation in a rigorous and independent process that evaluates their management skills and practices. This includes having their business strategy and operations analysed and benchmarked against an evaluation framework applied to a strong community of 1200 best-managed private companies across the world. Business leaders then use the process to sharpen strategies and gain valuable insights to help them fine-tune their strategies and operations, optimising business growth.

“This year’s Singapore winners are companies that have stepped up and seized the opportunity to evaluate their business models – from customer engagement and new market entries, to supply-chain methodology, talent retention and advancing ESG remits,” said Michael Tsia, Best Managed Companies leader, Singapore & Southeast Asia. “We are impressed by their commitment to their people, their customers, and the community in which they operate.”

The Best Managed Companies winners are encouraged to re-join the program every year to continuously challenge, improve, and grow their companies to maintain their Best Managed Companies status. Winners will join other Best Managed companies that have achieved this mark of business excellence, thereby elevating and augmenting their brand credibility, and expanding their market presence. Best Managed Companies winners are invited to the annual regional symposium and networking events.

The Best Managed Companies program is an initiative of Deloitte Private.

Adeline Sim, Executive Director & Chief Corporate Officer of HRnetGroup Limited, said, “This Best Managed Companies award, that coincides with HRnetGroup’s 30th anniversary, affirms our relentless efforts to break new ground in talent acquisition, management, and flexible staffing; harnessing the best of technology and human ingenuity. Our team of 1,200 across 15 cities work ceaselessly to offer better solutions and advice, essential particularly in these dynamic environments."

Mr Tan Yong Keng, Executive Chairman, of Kenyon Pte Ltd, said, “There are so many strong private companies in Singapore that contribute so much to the economy and the community – to be included as one of the Best Managed companies in Singapore is a special honour and privilege for Kenyon, our staff and families, and for all our past and present clients who put their trust in us.”

Ricky Tan, Chairman & CEO of KinderWorld International Group Ltd, said, “I am humbled and delighted to receive this award for the second consecutive time, which is a wonderful testament to the things that we have been doing right in KinderWorld. This achievement belongs to our dedicated and passionate staff team. We are excited about our journey ahead and look forward to our next stage of growth.”

Mr Ong Pang Aik, Chairman and Managing Director of Lian Beng Group Ltd, said, “We are greatly energised to be receiving the award for the second year running. It reaffirms what we can achieve as a team and encourages us to remain relevant through innovation and continuous learning. We are also inspired to continue to create a positive impact in the community.”

Dr Wolfgang Baier, Group CEO of LUXASIA Group Pte Ltd, said, “LUXASIA is proud to be one of the winners of Best Managed Companies Singapore for the second year running. Following our successful omnichannel transformation in 2021, is an ambitious growth plan aimed at capturing the burgeoning luxury beauty & lifestyle sector in APAC. As one team of 2000 talents in 15 markets, we will lead the charge.”

Dr Shi Xu, Founder and Executive Chairman of Nanofilm Technologies International Limited, said, “It is truly an honour to be conferred this globally recognised award for the second consecutive year. Guiding our team forward is the fundamental science behind the strengths of our unique deep technologies. I am confident the Nanofilm family, under our management’s leadership, will continue to uphold our core values and collectively realise our strategic focused areas to generate sustainable value-add for our stakeholders.”

Charlie Teo, CEO of OSIM International Holding Pte Ltd, said, “We are extremely honoured and delighted that OSIM is recognised as one of Singapore’s Best Managed Companies for the second year running. It is a testament to our unwavering commitment to the physical and mental well-being of people around the globe."

Robert Chua, CEO of Penta Power Investment Pte Ltd, said, “This is a truly remarkable achievement that will bring confidence for everyone in the company to strive together to achieve their best performance.”

Li Meng Lee, CEO of Razer Fintech Holdings Pte Ltd, said, “We started with a vision to build a digital payments platform for our users, extending our ecosystem from hardware and software into the services segment. Today, through our innovative end-to-end solutions, Razer Fintech is one of the largest Offline-to-Online digital payment networks in Southeast Asia. To be recognised as one of Singapore’s Best Managed companies is truly an honour and we look forward to continuing to live up to this accolade.”

Dato’ Victor Tan, CEO of TOP International Holding Pte Ltd, said, “We are honoured to be one of the winners of the Best Managed Companies awards. It affirms our hard work and that we are on the right path. The journey has been exciting and challenging at times, but we are enjoying the ride. We will endeavour to pursue excellence in every aspect of our business."

An independent judging panel comprising business and academia representatives determined the winners based on the leading practices of Best Managed Companies. This year’s jury members are Ng Jiak See, Deloitte Asia Pacific Financial Advisory Leader; Victor Mills, CEO of Singapore International Chamber of Commerce; and Daniel Simonovich, Affiliate Professor of Strategy at INSEAD.

Note to Editors: Some of the winners are listed companies. The term ‘private enterprise’ is used because the majority of the company’s shares are still privately owned either directly or indirectly, which is a requisite for a company’s eligibility for the Best Managed Companies program.

About Singapore’s Best Managed Companies program
The 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 awards of its kind. The program is currently active in the Americas, Europe, Asia Pacific and currently launching across Africa.

For more information on the Best Managed Companies program, click here.

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