SINGAPORE – A clear strategy, a strong culture, corporate social responsibility and innovation are hallmarks of best-run companies, Deloitte Singapore said on Thursday (July 1st).
General Manager Cheung Pui Yuen said at the company’s inaugural award ceremony to some of the country’s best-run companies, “After an incredibly difficult year for many companies, it is more important than ever to support and to recognize the great leadership and tenacity of Singapore-based companies. are applying.
“The winning companies have a clearly defined organizational goal and have been tenacious in staying competitive.”
The event at the Singapore Marriott Tang Plaza hotel recognized six companies for their organizational success and contributions to their respective industries and economy.
The awards program evaluated Singapore’s top private companies with annual sales exceeding US $ 25 million (S $ 33.6 million).
These are companies in which the majority of the company’s shares are still privately owned, directly or indirectly, even if some are listed companies.
Judges assessed their management quality in areas such as strategy, capabilities and innovation, culture and engagement, as well as governance and financial performance.
They also looked at a company’s diversity and inclusion, corporate social responsibility and environmental initiatives, as well as digital transformation, customer-centric strategies and incentive-based innovation programs.
The six winners were entertainment company Cityneon Holdings, education provider KinderWorld International Group, construction company Lian Beng Group, beauty and luxury services provider Luxasia, cutting-edge manufacturer NanoFilm Technologies International and retailer OSIM International.
The Deloitte Awards were a first for Singapore, but the accounting giant has awarded them in 37 countries for more than 25 years.
Mr. Richard Loi, Deloitte’s private leader for Southeast Asia and Singapore, noted that winning companies have proven that longevity comes from sound management, even in tough times.
“Despite economically difficult times, we are seeing private companies seize opportunities to assess their business models, from customer engagement and delivery methods to attracting talent and advancing their digital journeys,” said he added.
“Progressive customer engagement programs, diversified product portfolios and investments in research and development are also highly valued, as are initiatives focused on corporate culture and people. “
Companies had to go through an application process and a two-hour lab session with Deloitte to be considered for the awards. Employee surveys were also taken into account.
The six winning companies will obtain a mark of excellence recognized worldwide and will have access to forums and business sessions.
Victor Mills, Managing Director of the Singapore International Chamber of Commerce, who was one of the judges, said: “(corporate) culture is essential for the simple reason that it enables sustainable business success.
“If you don’t understand your culture well, you won’t have committed teams to execute your business strategy and achieve your business goals.”
Judge Ng Jiak See, chief financial adviser at Deloitte Asia-Pacific, added that corporate social responsibility is not just about doing the right thing, but making the right business decision.
“It helps you grow your brand and retain the right people. The next generation wants to work for organizations with the right purpose. “
Best Managed Companies
• Entertainment company Cityneon Holdings
• The education provider KinderWorld International Group
• Lian Beng Group construction company
• Luxasia beauty and luxury services provider
• Advanced manufacturer NanoFilm Technologies International
• Retailer Osim International