Four leading entrepreneurs named winners of the EY Entrepreneur Of The Year™ 2024 Singapore awards

• Lance Y. Gokongwei, President and CEO of JG Summit Holdings, Inc. conferred EY-Bank of Singapore Asean Entrepreneurial Excellence award
• Tecity Group honored with EY-Bank of Singapore Family Enterprise Award of Excellence

Professional services organization EY today announced the four recipients of its 23rd EY Entrepreneur Of The Year (EOY) 2024 Singapore awards:

• EY Entrepreneur Of The Year – Environmental Services
  Mr. Edy Tan Wei Hock, PBM, Chief Executive Officer, Chye Thiam Maintenance
• EY Entrepreneur Of The Year – Food and Beverage
  Mr. Samuel Yik, Managing Director, Dian Xiao Er Group
• EY Entrepreneur Of The Year – Technology Solutions
  Mr. Anthony Chow, Chief Executive Officer and Co-Founder, igloocompany
• EY Entrepreneur Of The Year – Mobility
  Mr. Zachary Wang, Co-founder and Chief Executive Officer, Neuron Mobility

Please refer to Fact sheet A for profiles of the winners and their companies.

One of the winners will be named the EY Entrepreneur Of The Year 2024 Singapore, and represent Singapore at the annual EY World Entrepreneur Of The Year™ (WEOY) award in 2025 to compete with contenders from over 60 countries and jurisdictions.

Singapore’s representative to the WEOY award will be announced at the EY EOY Awards Gala to be held on 18 November 2024. Minister for Culture, Community and Youth and Second Minister for Law, Mr. Edwin Tong, will be the Guest-of-honor at the awards gala.

The four winners had emerged from a pool of over 80 nominations and were selected by an independent judging panel, based on their merits in fulfilling the four globally benchmarked criteria, namely entrepreneurial spirit, growth, purpose and impact.  

Please refer to Fact sheet B for members of the judging panel and details of the judging criteria.

The chairperson of the judging panel is Ms. Susan Chong, Founder and CEO of Greenphyto Pte. Ltd., who have served three times as a judge at the World Entrepreneur Of The Year award previously.

She comments on the winners this year:
“The four winners this year epitomize the foresight, agility and courage of leading entrepreneurs. They reflect an interesting mix, coming from traditional industries as well as new sectors that emerged with the rise of the digital and sharing economy. Regardless, they have not stood still against the test of time, competition and market disruptions. Be it investing in technology and innovation to redefine established ways of operating to venturing into foreign markets beyond Singapore or carving a niche for themselves, these entrepreneurs have changed the face of their industries, created new consumer demands and uplifted quality of lives in communities.”

Mr. Liew Nam Soon, EY Asean Regional Managing Partner and Singapore and Brunei Managing Partner, Ernst & Young Solutions LLP, explains how the winning entrepreneurs embody this year’s theme of “The Art of Entrepreneurship”.

He says:
“Entrepreneurship is an artful balance of passion, innovation, courage and grit. Like artists, the winners have created a bold vision and pursued their goals unwaveringly, leaving a mark of difference on the communities they serve. Their pursuit of growth and innovation regardless of how long they have been in the business and seeking out opportunities in places that no others have been, serves as inspiration for many as we continue to foster a strong entrepreneurial spirit in Singapore.”

Please refer to Fact sheet A for the winners’ quotes on how they drive sustained innovation in their business.

Two other honorary awards conferred for Asean entrepreneurial excellence and family enterprise excellence

Mr. Lance Y. Gokongwei, President and CEO of JG Summit Holdings, Inc., is named the winner of this year’s EY-Bank of Singapore Asean Entrepreneurial Excellence award. The award is an honorary award that is presented on board the EOY platform (the award recipient does not compete for the EOY Singapore 2024 title) and recognizes successful Southeast Asian businesses that contribute to the economy and community in the region.

Please refer to Fact sheet C for winner’s quote and profile. 

Mr. Liew says:

"As a second-generation entrepreneur, Lance started with the company as a junior salesperson and worked his way up to eventually steer his father's company into a flourishing new phase of growth and success. JG Summit Holdings now has a dynamic portfolio in the Philippines and Southeast Asia, spanning sectors including food and retail, aviation, real estate, energy, financial services and telecommunications. His impact can be seen in his contributions to national progress by advancing quality education for the future workforce while transforming the lives of fellow countrymen.”

In another honorary award, Tecity Group is named recipient of the EY-Bank of Singapore Family Enterprise Award of Excellence. Knowledge Partners, Business Families Institute @ Singapore Management University (BFI @ SMU) and the INSEAD Wendel International Centre for Family Enterprise had selected the winner.

Mr. Liew says:

“Now in its third generation, Tecity Group honors the legacy of its founding generation through its investment, public-listed and philanthropic arms. The Group inspires with their ability to successfully balance business and family interests, grow the business portfolio sustainably and show responsibility for others through philanthropic and social engagements. How the entrepreneurial and philanthropic spirit continues to thrive through generations is truly exemplary.” 

Please refer to Fact sheet D for winner’s quote, winner profile, eligibility and selection criteria.

Partners and sponsors

Bank of Singapore is the presenting title sponsor for the two honorary awards – the EY-Bank of Singapore Family Enterprise Award of Excellence and the EY-Bank of Singapore Asean Entrepreneurial Excellence Award.

The Bank of Singapore, wholly owned private banking subsidiary of OCBC, is also the platinum sponsor of the EOY awards.

Bank of Singapore CEO, Mr. Jason Moo, says:
“Bank of Singapore is pleased to be the platinum sponsor of the EY EOY awards in Singapore. Entrepreneurs are an important driving force of the economy, and many of them have pioneered innovations that have significant social and economic impact. We are proud to partner EY to celebrate these entrepreneurs’ tenacity and perseverance in building and sustaining successful businesses.”

The Singapore Exchange Limited (SGX) continues as a partner of the EOY awards for the fifth year.

Mr. Pol de Win, Head of Global Sales and Origination, SGX Group, says:

“In an era marked by rapidly shifting macroeconomic and business landscapes, Singapore entrepreneurs are navigating through unprecedented challenges. These challenges demand not just resilience but innovation. Through programs like the EY Entrepreneur Of The Year Award, now into its fifth year of sponsorship by the SGX Group, we continue to shine a spotlight on the remarkable achievements of our homegrown champions.”

The official media partners of the awards are The Business Times, The Edge Singapore and Portfolio magazine. The supporters are Action Community for Entrepreneurship; Enterprise Singapore; Singapore Business Federation; and SkillsFuture Singapore.

The EY EOY awards program was launched in Singapore in 2002 to honor entrepreneurs who have created and sustained successful business ventures, as well as to coincide with the government’s focus on fostering entrepreneurship and grooming local entrepreneurs. Now in its 23rd year, the program has evolved into a leading business award in Singapore with an international presence and footprint. For more information about the EY EOY program, please visit ey.com/sg/eoy.

 

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About EY

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This news release has been issued by Ernst & Young Solutions LLP, a member of the global EY organization.

About EY Entrepreneur Of The Year™ 

EY Entrepreneur Of The Year™ is the world’s most prestigious business awards program for entrepreneurs. The program makes a difference through the way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global awards program of its kind, Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 145 cities in more than 60 countries. ey.com/eoy

About Bank of Singapore

Bank of Singapore is the private banking subsidiary of OCBC, backed by OCBC’s strong credit ratings of Aa1 by Moody’s and AA- by Fitch and S&P. Its open-architecture product platform and strong research capabilities provide clients with world class private banking and wealth planning solutions.

With three hubs in Singapore, Hong Kong and Dubai, Bank of Singapore serves high net worth individuals and wealthy families across Southeast Asia, Greater China, Middle East, Europe and other international markets.

Bank of Singapore was named Best Overall Asia Private Bank by WealthBriefing Asia and World’s Best for ESG Investing by Euromoney in 2023.

www.bankofsingapore.com

About Singapore Exchange (SGX Group)

SGX Group seeks to serve as the world’s most trusted and efficient international marketplace, operating equity, fixed income, currency and commodity markets to the highest regulatory standards. As one ecosystem with global relevance and influence, we offer multiple growth avenues to our stakeholders through listing, trading, clearing, settlement, depository, data and index services. We are committed to lead on climate action by developing a world-class transition financing and trading hub through SGX FIRST (Future in Reshaping Sustainability Together), our multi-asset sustainability platform. Headquartered in AAA-rated Singapore, we are globally recognized for our risk-management and clearing capabilities.

www.sgxgroup.com

Fact sheet A: EY Entrepreneur Of The Year winner and company profiles

(Information provided by winners’ companies)

a) EY Entrepreneur Of The Year – Environmental Services
     Mr. Edy Tan Wei Hock, PBM
     Chief Executive Officer
     Chye Thiam Maintenance

Quote on receiving the category award

“It’s an honor to be selected as the EY Entrepreneur Of The Year – Environmental Services winner.

At Chye Thiam Maintenance, we constantly strive to stay at the forefront of our industry, pioneering new solutions that set benchmarks for sustainability.

This achievement reflects our collaborative efforts with our partners and staff, working hand-in-hand to uplift the entire sector. Together, let’s continue to drive towards a more sustainable future, making a positive impact on our planet and communities.”

Quote on how they drive sustained innovation in their business

“Driving sustained innovation in our business requires a multifaceted approach, particularly in the environmental services industry where manpower is a constant challenge. Recognizing this, Chye Thiam Maintenance has championed out-of-the-box thinking to attract new talents. By collaborating closely with educational institutions, we have established mutually beneficial partnerships that foster the exchange of expertise and real-world experience.

Additionally, the creation of a center of excellence empowers our team to innovate continuously and explore state-of-the-art technologies, revolutionizing our operations. This approach, driven by a relentless pursuit of excellence, has enabled us to achieve greater efficiency and higher quality in our work. In recent times, some of the innovations incorporated into our work processes include environmental robotics and analytics, and streamlined waste management solutions aimed at supporting a circular economy.

Through our efforts to continuously innovate, Chye Thiam Maintenance hopes to remain at the forefront, pushing boundaries and striving for greater growth.” 

About Mr. Edy Tan Wei Hock, PBM

Mr. Edy Tan Wei Hock, PBM, is Chief Executive Officer of Chye Thiam Maintenance (CTM), a leading home-grown environmental services (ES) enterprise. Under his leadership, CTM has transformed from a local cleaning specialist in the 1980s into one of the largest ES companies today, offering facilities management, environmental robotics and analytics, waste recycling and landscaping services.

Leading 3,000 employees, Mr. Tan believes people are key, and places top emphasis in employee development and welfare. His commitment to innovation and automation has significantly enhanced productivity.

Mr. Tan also shapes industry standards as Vice-President of the Environmental Management Association of Singapore and a charter member of the Tripartite Cluster for Cleaners. He has been pivotal in pioneering the Progressive Wage Model and flexible work arrangements in the industry.

Outside of CTM, he is a board member of various charities and public committees, including Vice-Chairman of the Citizens’ Consultative Committee for Toa Payoh West-Thomson, Council Member of the Public Hygiene Council, and Advisory Committee member at imPAct@Hong Lim Green. His dedication to public service was honored with the Pingat Bakti Masyarakat Public Service Medal in 2018.

Mr. Tan is 50 years old.

About Chye Thiam Maintenance

Since its beginning in 1979, Chye Thiam Maintenance (CTM) has always been striving to be the drivers of change for a better tomorrow by delivering the best environmental services to its clients. CTM’s commitment to people, performance, progress and preservation has made it a reliable and trusted partner, providing diverse solutions to a wide range of clients.

Today, CTM has grown exponentially in team size, capabilities, assets and resources, while remaining true to its core values. CTM embraces continuous innovation through the early adoption and creation of purpose-driven technologies, placing sustainability at the heart of its operations.

Through decades of experience and close relationship with its clients, CTM understands evolving needs, challenges and goals. CTM is passionate about delivering solutions that are not just comprehensive but also thoughtfully value-adding to meet unique facility management needs. Partnering with CTM means joining a journey of sustainable progress and purposeful innovation where it strives to achieve environmental goals – because CTM succeeds when its clients do.

CTM is committed to being a one-stop partner for all facility and environmental needs.

chyethiam.com

b) EY Entrepreneur Of The Year – Food and Beverage
     Mr. Samuel Yik
     Managing Director
     Dian Xiao Er Group

Quote on receiving the category award

“Thank you, EY for this prestigious category award. This recognition is a testament to the hard work and dedication by my amazing team. This recognition reflects our company’s values and our unwavering focus on customer satisfaction. We are inspired by this honor, and I look forward to building on this success and continuing to exceed expectations in our industry.”

Quote on how they drive sustained innovation in their business

“To drive sustained innovation in our business, we start by deeply understanding societal needs and aligning our innovations with what people truly want. We focus on creating solutions that address real demands and enhance everyday life. A significant part of our strategy involves substantial investment in IT, which allows us to streamline operations, improve efficiency, and deliver exceptional customer experiences. Technology also helps us stay ahead of industry trends and adapt quickly to changes.

Additionally, we are committed to producing food that not only satisfies hunger but also promotes health and well-being. By prioritizing high-quality, nutritious options, we ensure that our offerings contribute positively to our customers' lives. This integrated approach — combining societal insights, technological advancement and a focus on health — drives our innovation and keeps us at the cutting edge of our industry.”

About Mr. Samuel Yik

Coming from an audit background, Mr. Samuel Yik made a bold leap into the unfamiliar world of food and beverage (F&B), starting Dian Xiao Er, a casual Chinese restaurant in 2002. As a novice in the F&B industry, he faced numerous challenges including the SARS outbreak, bird flu and the 2007-08 financial crisis. Despite these challenges, Mr. Yik’s dauntless spirit and relentless drive propelled him to emerge stronger each time. His courage and resilience were particularly evident during the COVID-19 pandemic when he successfully doubled the business revenue.

Through strategic investment in branding and technology, Mr. Yik transformed the business into a household name known for exceptional service, efficiency and consistent food quality. By prioritizing customer satisfaction, he has redefined industry standards and proven that with the right mindset and determination, success knows no bounds.

Mr. Yik is 55 years old.

About Dian Xiao Er Group

Dian Xiao Er – the must-eat herbal roast duck in Singapore!

Using only the finest quality of Cherry Valley ducks paired with the freshest ingredients, our ducks are prepared and freshly roast daily. They are marinated with a revitalizing blend of Chinese herbs and spices for hours, roasted at a precise temperature to retain its juice while in the oven. Crisp to the touch, and golden brown in appearance, our herbal roast duck is complemented with our specially concocted herbal sauce that makes it impossible to resist!

dianxiaoer.com.sg

c) EY Entrepreneur Of The Year – Technology Solutions
     Mr. Anthony Chow
     Chief Executive Officer and Co-Founder
     igloocompany

Quote on receiving the category award

“This is an incredible honor and a milestone in our journey to redefine smart access. I'm deeply grateful for this recognition and for our amazing team of igloohomies who tirelessly share this passion. Together, we'll continue to innovate, create sustainable impact with our customers globally, and proudly fly the Singapore flag high on the world stage. Thank you for believing in our vision of a smarter, more connected world – a world without keys!”

Quote on how they drive sustained innovation in their business

“At igloocompany, sustained innovation is cultivated by a culture of continuous learning and open dialogue, where every idea is valued, no matter how out-of-the-box it may seem. By staying closely connected to our customers, we not only listen to their needs but transform challenges into opportunities.

Yet, true innovation at igloo stems from a deep-seated passion for driving the digital economy forward. We are not just chasing dreams; we are here to craft experience that brings joy and simplicity to your everyday lives.”

About Mr. Anthony Chow

Mr. Anthony Chow is the Chief Executive Officer and Co-Founder of igloocompany (igloo), a leading smart access solutions company dedicated to creating a “World Without Keys”.

His entrepreneurial journey began unconventionally — renting an Airbnb property where he lived and worked to test the smart locks he was developing, all while saving costs.

Recognizing the inconvenience of physical key exchanges, he co-founded igloohome to eliminate keys entirely. Under his leadership, igloo has expanded into numerous enterprise verticals, made over 500,000 doors smarter and the team is just getting started.

Mr. Chow is also committed to giving back, serving as an adjunct professor at the National University of Singapore and being part of the Milken Institute’s Young Leader Circle. His vision and innovation continue to drive igloo as a trusted leading brand in the smart access industry, fostering a sustainable digital economy.

Mr. Chow is 37 years old.

About igloocompany

Founded by Anthony Chow and Kelvin Ho, igloocompany (igloo) is a leading smart access technology company that specializes in smart locks, IoT devices, and a comprehensive enterprise software ecosystem. Originally launched as igloohome, the company set out to create “A World Without Keys”, partnering with companies like Airbnb to serve the short-term rental market.

Through its enterprise division, iglooworks, igloo now provides large-scale access management solutions to industries such as property and facilities management. Serving over 2,000 businesses globally, including clients like Zillow, Uber, Opendoor and OYO, igloo has become a trusted name in the industry.

Headquartered in Singapore with eight regional offices, including its North American base in Austin, Texas, igloo continues to expand its global footprint. The company's products have earned numerous international accolades, including the CES Innovation awards, iF Design awards and more.

igloocompany.co

d) EY Entrepreneur Of The Year – Mobility
     Mr. Zachary Wang
     Co-Founder and Chief Executive Officer
     Neuron Mobility

Quote on receiving the category award

“It is a great honor to receive the prestigious EY Entrepreneur Of The Year award for Mobility. My

journey at Neuron has been incredibly exciting, with its fair share of challenges, but also immensely satisfying. I must thank the excellent Neuron team — I could not have achieved this alone.”

Quote on how they drive sustained innovation in their business

“Neuron is a tech company, and innovation is in its DNA. From the beginning, I’ve prioritized creating a culture of creativity and learning, investing in R&D, and embracing critical thinking.

By listening to customer and stakeholder feedback and leveraging data analytics, the Neuron team stays responsive and informed. As one of the very first shared e-scooter companies, we had no playbook to follow so we filled the void and naturally became an industry leader. This, along with a strong shared vision, helps our team move forward together in an innovative way.”

About Mr. Zachary Wang

Mr. Zachary Wang is a serial entrepreneur who is committed to using sustainable technology to improve urban living. As the Co-Founder and Chief Executive Officer of Neuron Mobility, he aims to transform urban areas by bringing sustainable personal mobility to cities around the world.

Mr. Wang leads the company with a passion and enthusiasm for building smart cities. His role involves collaborating with councils to solve problems such as congestion, emissions, and to safely extend the range of existing transport networks.

He is also the founder of Rezeca Renewables – the leading residential and commercial solar provider in Singapore. The company also has a strong presence in Thailand for commercial and industrial applications.

Mr. Wang spent years building hydrogen fuel cell electric cars while at university, and he won several championships at the Shell Eco-Marathon in Europe and Asia. He holds a bachelor’s degree in mechanical engineering and automotive systems from the National University of Singapore.

Mr. Wang is 39 years old.

About Neuron Mobility

Founded in Singapore in 2016, Neuron Mobility is Australia and New Zealand’s leading e-scooter operator. It differentiates by being the best partner to cities while also leading the industry when it comes to safety and sustainable operations.

Neuron designs and manufactures its own e-scooters and the technology that runs them. The company has introduced an impressive number of world firsts and pioneering innovations, including e-scooter battery swapping, geofencing control, and integrated helmets. Earlier this year, Neuron introduced e-scooters with front-facing AI-powered cameras to help detect and solve the problem of footpath riding in Melbourne, Australia. This is the first time any e-scooter company has deployed this technology at scale in a major international city.

Neuron has a presence in 30 cities globally; it entered the Australian market in 2019, New Zealand and the UK in 2020 and Canada in 2021, where it is now the fastest growing e-scooter company.

rideneuron.com  

Fact sheet B: EY Entrepreneur Of The Year judging panel and criteria

Judging panel

Ms. Susan Chong (Chairperson of judging panel)
Founder and CEO
Greenphyto Pte. Ltd.
EY Entrepreneur Of The Year 2014 – Sustainable Packaging Solutions

Mr. Saurav Bhattacharyya
Chairman
Action Community for Entrepreneurship (ACE.SG)

Prof. Ho Teck-Hua
President and Distinguished University Professor
Nanyang Technological University

Mr. Danny Koh
Founder and CEO
Tower Capital Asia

Mr. Kok Ping Soon
CEO
Singapore Business Federation

Mr. Lee Chuan Teck
Executive Chairman
Enterprise Singapore

Mr. Mark Lee
CEO
Singlun Holdings Pte. Ltd.
EY Entrepreneur Of The Year 2015 – Manufacturing
EY Family Business Award of Excellence 2018

Judging criteria

The following four judging criteria sets the global standard adhered to by each and every country participating in the EY Entrepreneur Of The Year awards.

Entrepreneurial spirit

•  Identifies opportunities to innovate and create a better world.
• Takes risks to realize their vision.
• Demonstrates courage, perseverance and resilience to overcome significant obstacles.

Growth

• Increases market share and expands into new markets.
• Drives positive financial performance.
• Invests in attracting, developing and retaining a diverse mix of talent.
• Builds a culture of innovation that pioneers new approaches or technologies.

Purpose

• Commits themselves and their organization to an inspiring purpose and vision.
• Drives strategies for a sustainable future business.
• Creates and protects value in the long term, across a broad group of stakeholders, including consumers, employees, suppliers, government, communities, investors and shareholders.

Impact

• Positively impacts the customers they serve.
• Integrates sustainable Environmental, Social and Governance (ESG) practices in their strategy, with robust commitments and execution plans.
• Focuses on diversity and inclusion across multiple dimensions.

Fact sheet C: EY-Bank of Singapore Asean Entrepreneurial Excellence Award winner profile

(Information provided by winners’ companies)

EY-Bank of Singapore Asean Entrepreneurial Excellence Award
Mr. Lance Y. Gokongwei
President and Chief Executive Officer
JG Summit Holdings, Inc.

Quote by Mr. Lance Y. Gokongwei, President and Chief Executive Officer, JG Summit Holdings, Inc.  

“I am grateful and honored to receive this year’s EY Asean Entrepreneurial Excellence Award. 

This recognition inspires me to continue leading with a deep sense of purpose, and to be a good steward of the business that has been entrusted to me.

This award wouldn’t have been possible without the support of my Gokongwei Group colleagues who bring to life our purpose – an unrelenting commitment to provide our customers with better choices, creating shared success with our stakeholders – every single day.”

About JG Summit Holdings, Inc.

JG Summit, the flagship conglomerate of the Gokongwei Group, is involved in real estate, food, air transport, financial services, and petrochemicals.  It also has investments in telecommunications and power distribution. 

jgsummit.com.ph

About Mr. Lance Y. Gokongwei

Lance Gokongwei is a Filipino businessman. He heads the Gokongwei Group, one of the Philippines' largest and most diversified business groups, with business interests in food, air transport, real estate, petrochemicals, retail, financial services, media, healthcare, telecommunications, power distribution, among others.    

Mr. Gokongwei is 58 years old.

Fact sheet D: EY-Bank of Singapore Family Enterprise Award of Excellence

Winner profile, eligibility and selection criteria

(Information provided by winners’ companies)

EY-Bank of Singapore Family Enterprise Award of Excellence
Tecity Group

Quote by Ms. Chew Gek Khim, Executive Chairman and CEO, Tecity Group

“Thank you, EY and Bank of Singapore, for the Family Enterprise Award of Excellence. On behalf of the Tecity Group, we are deeply honored by this recognition and grateful for the acknowledgment of our efforts and achievements. 

The Tecity Group has achieved remarkable milestones, overcome challenges and continued our founder’s legacy of giving back to society through the combined and dedicated efforts of many over the years. To them, my family and I owe much.”

About Tecity Group

The Tecity Group, founded by the late banker and philanthropist Tan Sri (Dr) Tan Chin Tuan, comprises an investment arm, The Tecity Family Office; a public-listed arm, Straits Trading Company Limited; a philanthropic arm, The Tan Chin Tuan Foundation (TCTF).

tecity.com.sg

About family enterprise owner, Ms. Chew Gek Khim

Ms. Chew Gek Khim has been with Tecity Group since 1987. She is currently the Executive Chairman and CEO of the Group. 

Ms. Chew is also Chairman of The Straits Trading Company Limited, Malaysia Smelting Corporation Berhad and ARA Trust Management (Suntec) Limited.  

Ms. Chew serves as the Deputy Chairman of the Tan Chin Tuan Foundation in Singapore. Active in community and public service, she also sits on the Board of Trustees of the National University of Singapore, the Wealth Management Institute, and Board of Governors of the S. Rajaratnam School of International Studies and the Lee Kuan Yew School of Public Policy.  

Ms. Chew graduated from the National University of Singapore in 1984. She was awarded the Chevalier de l’Ordre National du Mérite in 2010, the Singapore Businessman of the Year 2014 in 2015, and the Meritorious Service Medal at the National Day Awards in 2016. 

About the award

The EY Family Enterprise Award of Excellence was launched in 2013 to recognize family enterprises that have made significant socioeconomic contributions and demonstrated the ability to harmonize between business and family matters. It is jointly selected by knowledge partners, Business Families Institute @ Singapore Management University and the INSEAD Wendel International Centre for Family Enterprise.

Family enterprises that have been honored include Ho Bee Land Limited, Agrocorp International Pte. Ltd., Goldbell Group, Hong Leong Group, Far East Organization, Sing Lun Holdings Pte Ltd, Tolaram Group, Jebsen & Jessen (SEA), Eu Yan Sang International, B.P. de Silva Holdings, and the Kewalram Chanrai Group.

Eligibility

• Leadership of the company includes family member(s) from second or subsequent generations, or has multiple branches of a family involved in leadership. (i.e., one individual and first generation would not qualify for the award).
• The family still has a significant ownership and voting stake and is primarily responsible for setting the strategic direction and values for the firm.
• The legal form of the company or group of companies is not relevant.
• Companies may be private or publicly traded.
• If the shares and voting rights have been transferred to a trust, it will remain to be considered as family enterprise if the family has dominant influence on the trust in a way described above.
• The business or headquarter of the business is located in Singapore.

Judging criteria

• Company shows evidence of a successful, sustainable and long term-oriented strategy.
• Company has adopted an effective and transparent corporate governance approach, enabling the execution of the desired strategy and living out of family values.
• Company governance enables unity among the ownership family (i.e., little evidence of significant family disputes impacting the business).
• Demonstrated the ability of the family to preserve company culture, tradition and values and maintain the entrepreneurial spirit and continued innovation over generations.
• Evidence shown of exceptional personnel management.
• Commitment to philanthropic causes or corporate social responsibility.
• Other exceptional achievements such as business awards, public service etc.