In a remarkable celebration of entrepreneurial spirit, fifty privately-held enterprises in Singapore were recognized for their resilience and determination at the 29th Enterprise 50 (E50) Awards held today. The event, themed “Scaling New Heights, Conquering New Frontiers,” took place at the Raffles City Convention Centre in Singapore with the esteemed Minister for Education, Mr. Chan Chun Sing, gracing the occasion.

Celebrating the Legacy of E50

The 29th E50 Awards continue to serve as a beacon for enterprises demonstrating the courage to innovate and explore new pathways to success. Since its inception in 1995, the E50 Awards has celebrated over 700 companies across key business sectors in Singapore, promoting a culture of excellence and inspiration.

To commemorate this year’s achievements, a special publication will feature the success stories of the 29th E50 Award winners, to be released during next year’s awards ceremony. This year’s commemorative book, titled “Enterprise 50 – The Best SMEs in Singapore,” profiles the winners of the 2022 E50 Awards. This initiative aims to champion local businesses while inspiring future generations of entrepreneurs and leaders. 

A limited number of signed copies will be available for purchase at $5,000 each, with proceeds supporting the E50-NUS Business School Undergraduate Bursary. Since the launch of this fundraising initiative, S$857,420 has been raised, highlighting the collective commitment to fostering education and opportunity in the business community.

The Top Three Winners

The competition was fierce, with outstanding performances from many participants. The top three winners stood out for their innovative strategies and robust growth:

1. Unigold International Pte Ltd secured 1st place due to its substantial investments in facilities, cutting-edge equipment, research and development, and human resources. These efforts have significantly bolstered its operational capabilities and expanded manufacturing capacity.

2. PS Energy Group Pte Ltd awarded 2nd place, has leveraged digital technology to create innovative solutions that empower customers to operate smartly and efficiently, enabling them to make informed and cost-effective decisions.

3. Mercantile Pacific Asia Pte Ltd claimed the 3rd spot for its pioneering contributions to the circular economy. Through its comprehensive AI, analytics, e-commerce, and certification platforms, the company is reshaping the multi-layer value chain of the pre-owned mobile device ecosystem.

Special Recognitions

This year’s ceremony also included the presentation of five Special Awards:

MLION Corporation Pte Ltd received the Special Recognition – Internationalisation Award for being the foremost market supplier of sheet piles in Southeast Asia. Their innovative GoTagID solution and GoListID platform will enable customers to scale their pre-owned steel trading businesses across Asia.

Buildo Engineering Pte Ltd and Maha Chemicals (Asia) Pte Ltd were honored with the Special Recognition – Sustainability Innovation Award. Their dedication to integrating environmental, social, and governance (ESG) principles throughout their operations exemplifies their commitment to sustainable business practices.

Both MLION Corporation Pte Ltd and TS Group Pte Ltd were awarded the Five-Year Award, recognizing their consistent presence as E50 awardees over the past five years.

Impressive Financial Growth

The collective revenue of this year’s winners reached an impressive S$6 billion in 2022, a notable increase from around S$4 billion in 2021. This growth reflects the strength and resilience of Singapore’s small and medium-sized enterprises (SMEs) in navigating the complexities of the business landscape.

Inspiring Insights

Reflecting on the achievements, Ms. Chen Huifen, Editor of The Business Times, expressed her admiration: “I am heartened to see 50 of our small and medium-sized enterprises overcoming various challenges and succeeding in their respective fields. Despite their smaller scale, several are also starting to think about cutting carbon footprints through their corporate activities. That’s a good start. I hope that the Enterprise 50 Awards will encourage more enterprises to find new ways to scale new heights.”

Ms. Lee Sze Yeng, Managing Partner at KPMG in Singapore, added, “This year’s Enterprise 50 winners have truly raised the bar. Their innovative use of technology, data, and ESG principles has not only reshaped their businesses but also enriched our entire business community. They’ve proven that adaptability and resilience are the keys to success, inspiring others to follow suit. These collective achievements are more than a testament to Singapore’s competitiveness; they’re enhancing our global relevance.”

As we celebrate these outstanding enterprises, we look forward to seeing how their innovative practices will shape the future of Singapore’s business landscape.

The full list of winners for the 29th E50 Awards is available in the Annex, with more information accessible at [bt.sg/e50](http://bt.sg/e50).