6 firms awarded in Deloitte’s inaugural Singapore’s Best Managed Companies
The accounting giant has run this award program in 37 countries.
Six private firms have been awarded by accounting firm Deloitte as the first winners of Singapore’s Best Managed Companies awards program held at Singapore Marriott Tang Plaza Hotel.
The Singapore’s Best Managed Companies awards program recognises top privately-owned Singapore companies with annual revenues over US$25 million for their organisational success as well as contribution to their industry and to the economy.
The six companies awarded were Cityneon Holdings for the entertainment industry, KinderWorld International Group for the education industry, Lian Beng Group Ltd for the construction industry, LUXASIA Pte Ltd for the beauty and luxury lifestyle industry, Nanofilm Technologies International Pte Ltd for the advanced manufacturing industry, and OSIM International Ltd for the retail industry.
The Singapore awards are derived from Deloitte’s global Best Managed Companies awards programs – a well-regarded international awards program that applies a proven evaluation process to assess the businesses’ quality of management in areas including strategy, capabilities and innovation, culture and commitment, as well as governance and financials. 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.
According to Deloitte, companies who were eligible for this awards program were shortlisted and underwent 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 that is applied to the 1000-strong community of best managed private companies across the world. Business leaders then use the process to sharpen strategies and derive valuable insights to help them set projections to optimise business growth.
"Despite economically challenging times, we see private companies seizing opportunities to evaluate their business models from customer engagement and delivery methods, to talent attraction and advancing their digital journeys," said Southeast Asia and Singapore Deloitte Private Leader Richard Loi.
"The winning companies have shown great resilience in their respective fields, proving that longevity is about sound management even when faced with adversity," Loi added.