By Mary Lim

FOR the fifth year in a row, Koufu, one of Singapore's largest food and beverage chain comprising foodcourts, restaurants, coffeshops and other related businesses, has made it to the Enterprise 50 (E50) list.

Back to main story: » Rewarding resilience Related stories: » Photos: Enterprise 50 gala night » The Enterprise 50 list of winners

More remarkably, it jumped from last year's ranking of 15 to fifth spot this year.

Describing the accolade as a reflection of teamwork and hard work, its managing director Pang Lim says the award serves as a tangible reminder to everyone at the company that he or she can strive to achieve better results.

Incidentally, Koufu was founded on the business philosophy of 'Better Food, Better People, Better Life'.

Mr Pang adds: 'I couldn't have achieved this success on my own. I have a team that is not only good at what it does, but it also can work together with me and with one another.

'I think the E50 ranking will help strengthen the vision in all members of the staff and demonstrate to everyone that we can scale greater heights in time to come.'

Amid the global economic downturn, despite the slower pace of growth, the company kept its focus on long-term goals.

It offers professional training and development to its workforce of over 800 employees.

These included courses on hygiene for junior staff, customer service for middle management, and management for those in senior management.

The company negotiated successfully with suppliers to reduce operations overheads.

Meanwhile, to facilitate new outlets in upcoming months, it explored new venues with more cost-efficient rents.

It now has 43 outlets, including the newest Koufu foodcourt at Market Street Carpark, which opened in September. There are plans to open up to five new outlets next year.

Mr Pang says: 'The financial crisis led to changes in market conditions. Despite everyone saying it was all gloom and doom, we saw many opportunities.

'It is important that an entrepreneur takes every crisis as a lesson so he can accumulate more knowledge and better overcome difficulties.'

A year after opening the first Koufu foodcourt at Toa Payoh Central, Singapore was affected by the Sars epidemic.

With many staying indoors, business was heavily affected.

Nonetheless, Mr Pang took the tough circumstances in stride and persevered.

The experience, he says, taught him the importance of focusing on quality, and to always stay prepared for changes and challenges.

Now, that's food for thought.

This article was first published in The Straits Times.