By JESSICA YEO

SMALLER and younger companies had their day in the sun at the second Emerging Enterprise Awards, where Singapore Exchange CEO Hsieh Fu Hua was the guest-of-honour.

The atmosphere was electric. Employees of the nine finalists applauded and cheered each time their company was mentioned at Friday's function.

After the three winners were announced, the atmosphere turned celebratory. Some employees yelled wildly while others clapped as the winners hoisted their trophies.

Some got physical - hugging each other and jumping for joy - with wine glasses clinking as employees toasted the wins.

The three winning companies - Allalloy Dynaweld, PurpleClick Media and Screentech Display - took home prizes presented by Mr Hsieh. Each of them received prizes worth $360,000, comprising a $150,000 interest-free loan from OCBC Bank, $150,000 grant from Spring Singapore, $30,000 educational package from NUS Extension, and a $30,000 consulting package from RSM Chio Lim.

Also receiving a special award for product innovation was XMI. All of the nine finalists received tokens, presented by OCBC's head of group investment banking George Lee.

Emerging Enterprise 2009 recognises companies with an annual turnover of less than $10 million and which have been in operation for up to 10 years. It was jointly organised by The Business Times and OCBC Bank, and supported by Spring Singapore, NUS Extension and RSM Chio Lim.

This article was first published in The Business Times.