SMEs double their numbers in Growth Excellence rankings
The number of SMEs that qualify for ranking has doubled since last year, which means that these businesses had put up a blue-ribbon performance last year.
Chia Yan Min
Sat, May 31, 2008
The Straits Times
SMALL and medium-sized enterprises (SMEs) have performed strongly over the past year, according to a survey by DP Information Group.
The survey ranks companies based solely on improvements in their financial performance; no judging processes are involved.
One excellent sign: The number of SMEs that qualify for ranking has doubled since last year, which means that these businesses had put up a blue-ribbon performance last year.
| AWARD WINNERS THIS year, a new category of Most Promising Enterprises was added to the SME Growth Excellence Recognition rankings. Companies that topped the five categories used to rank them are: Growth Excellence for Most Promising Enterprises: Mooreast Growth Excellence for Sales/Turnover: Target Asset Management Growth Excellence for Net Profit: ACT Holdings Growth Excellence for Credit Ratings: Factronics Systems Engineering Growth Excellence for Internationalising SMEs: Cables International |
This year saw a total of 8,000 SMEs vying for the top 10 spots in each of the five categories.
Now in its second year, the SME Growth Excellence Recognition survey ranks companies on turnover, net profit and credit ratings. It also recognises the top internationalising SMEs. And this year, the most promising enterprises - a new grouping - have also been singled out.
The top 10 companies in each category have received their awards.
'If you single out one characteristic that makes a Growth Excellence company, it would be the firm's ability to compete on an international scale,' said Ms Tan Siew Meng, the head of commercial banking at HSBC, which co-organised the survey.
DP Info managing director Chen Yew Nah added: 'The rankings will provide an impetus for the companies, as they will indicate that the companies have reached a milestone.'
Cables International, which supplies cables mainly to the energy industry, topped the Internationalising SMEs category. The company, set up in 2003, has outlets in Malaysia, Australia and Dubai.
'We're looking into expanding further into the Middle East, especially Qatar,' said director Brian Sweeny.
Hisaka Singapore, an automation solutions company that also specialises in supply chain management, placed sixth on the internationalising SMEs list and second in terms of turnover.
Chief executive Jackie Cheng said: 'Many of our business partners have no presence overseas. Our strength lies in our ability to create that convenience for them.'
This article was first published in The Straits Times on May 29, 2008