Singapore, 21 November 2023 – Fifty privately-held enterprises in Singapore were recognised for displaying remarkable resilience through their grit, courage, and enterprising spirit at the 29th Enterprise 50 (E50) Awards today.

Held at the Raffles City Convention Centre this evening, the E50 Awards was themed “Scaling New Heights, Conquering New Frontiers”, and graced by Minister for Education Mr Chan Chun Sing.

The winners were assessed by a panel of judges that included representatives from The Business Times, Enterprise Singapore, KPMG in Singapore, and Singapore Business Federation. They have been ranked according to an assessment framework that includes a set of quantitative and qualitative criteria.

The top three winners of the 29th E50 awards are:

  • 1st place: Unigold International Pte Ltd for its heavy investment in its facilities, equipment, research and development, as well as human resources, which has continually increased its operating capabilities and expanded its manufacturing capacity.
  • 2nd place: PS Energy Group Pte Ltd for leveraging digital technology to develop innovative solutions which enable its customers to run their operations smartly and efficiently, helping them to make more informed and cost-effective decisions.
  • 3rd place: Mercantile Pacific Asia Pte Ltd for helping to foster the circular economy through its full stack AI, analytics, e-commerce and certification platforms, and reshaping the multi-layer value chain of the pre-owned mobile device ecosystem. 

Five Special Awards were also presented to the following companies this year:

  • MLION Corporation Pte Ltd was conferred the Special Recognition - Internationalisation Award for being the leading market supplier of sheet piles in Southeast Asia, and the launch of its GoTagID solution and GoListID platform, which will open up new markets for customers to scale their pre-owned steel trading business in Asia.
  • Buildo Engineering Pte Ltd and Maha Chemicals (Asia) Pte Ltd won the Special Recognition - Sustainability Innovation Award for their strong commitment towards embedding environmental, social and governance (ESG) principles across their operations and value chains.
  • MLION Corporation Pte Ltd and TS Group Pte Ltd received the Five-Year Award for being an E50 awardee for five years.

The total revenue of the 50 winners this year stood at over S$6 billion in 2022, up from around S$4 billion that the group of 50 winners last year garnered in 2021.

Ms Chen Huifen, Editor of The Business Times, said: “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 footprint 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, KPMG in Singapore, said, "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 own 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."

The 29th E50 Awards recognises leading Singapore companies that have shown courage to innovate and explore new ways of working, inspiring change amid adversity and setting new benchmarks for industry success. Since its inception in 1995, the E50 Awards has recognised more than 700 companies across key business sectors in Singapore. The E50 Awards is jointly organised by The Business Times and KPMG in Singapore, sponsored by OCBC, and supported by Enterprise Singapore, Singapore Business Federation, and SGX Group.

The success stories of the 29th E50 Award winners will be featured in a commemorative publication and will be released at the Awards ceremony next year. This year’s commemorative book, now in its 15th edition and titled “Enterprise 50 – The Best SMEs in Singapore”, profiles winners of the 2022 E50 Awards. Aimed at championing local businesses and inspiring future generations of entrepreneurs and leaders, the book is an annual joint initiative between the E50 organisers and the National University of Singapore (NUS) Business School. Every year, a limited number of copies signed by the Guest-of-Honour at the Awards ceremony are available for purchase at $5,000 each, in support of the E50-NUS Business School Undergraduate Bursary. Since the inception of this fundraising initiative, $857,420 has been raised.

The full list of winners for the 29th E50 Awards can be found in the Annex. More information on the Awards can also be found at

For more information, please contact:

Adeline Tan
Associate Manager, Marketing & Communications
KPMG in Singapore

Jeanie Lee
Director, Marketing & Communications
KPMG in Singapore


About the Enterprise 50 Awards

The Enterprise 50 Awards was launched in 1995 to identify, support, recognise and reward enterprising privately-owned, local companies across all sectors. Since then, it has become a definitive list of the 50 most enterprising, privately-held local companies in Singapore.

The E50 Awards is jointly organised by KPMG in Singapore and The Business Times, and sponsored by OCBC. Supporters of the awards include Enterprise Singapore, the Singapore Business Federation and Singapore Exchange.

Every year, applicants of the E50 Awards are evaluated and ranked using both quantitative and qualitative criteria. Quantitative factors include financial performance indicators such as operating profit before tax, turnover and profit growth. The qualitative criteria include management and marketing strategies such as the applicants’ business models, innovations, management ideals, governance, market branding and overall potential. For more information, please visit


About SPH Media

SPH Media is a leading media group, with operations in the publishing of newspapers, magazines, and books in both print and digital editions. It also owns and operates other businesses such as radio stations and outdoor media. The mission of SPH Media is to be the trusted source of news on Singapore and Asia, to represent the communities that make up Singapore, and to connect them to the world. The businesses are held by SPH Media Trust, a public company limited by guarantee. For more information on SPH Media, please visit, and our social media channels on Facebook, Instagram, LinkedIn, and YouTube.


About The Business Times

Singapore's only English financial daily, The Business Times (BT), is the authoritative guide on local, regional and international business markets. In addition to corporate news and commentary, BT covers the startup, wealth, property, lifestyle and SME scenes, and tells you what you need to know about ASEAN and the region.

For more information, please visit







About KPMG in Singapore

KPMG in Singapore is part of a global organization of independent professional services firms providing Audit, Tax and Advisory services. We operate in 143 countries and territories with more than 265,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.



About OCBC

Headquartered in Singapore, OCBC is one of Southeast Asia's largest financial service providers. Recognised for our financial strength and stability, OCBC’s global reputation has been built through relationships and results, from serving customers across 19 countries and regions.

As Asia's top SME bank, we offer customers unparalleled access to ASEAN and Greater China, to support their increasingly cross-border aspirations and growth. Through our One Group approach, we leverage the combined strength of our comprehensive network, backed by our wide array of bespoke banking solutions for financing, advice, trade and cash management, to help our customers achieve their business goals.

In ASEAN, OCBC services the top seven markets which contribute to over 98% economic growth of the region, using locally incorporated banking and insurance subsidiaries, and bank branches and offices. In Greater China, we have 67 branches in 17 cities in mainland China, Hong Kong SAR, Macau SAR and Taiwan, complemented by our partnership with Bank of Ningbo.

Recognising the uniqueness of SMEs at different life stages, segments, and industries, we tailor solutions to specific needs and deliver them at scale to our customers. As sustainability and net-zero grow in importance, OCBC supports SMEs at every step of their sustainability journey – from education and outreach to developing partnerships and ecosystems, with easy access to financing through the OCBC Sustainable Finance Framework. We aim to empower businesses to embrace sustainable initiatives – to "Do Well, Do Good and Do Now“ as we come together to close the gap towards a sustainable future.


About Enterprise Singapore

Enterprise Singapore is the government agency championing enterprise development. The agency works with committed companies to build capabilities, innovate and internationalise. It also supports the growth of Singapore as a hub for global trading and startups, and builds trust in Singapore’s products and services through quality and standards.

Visit for more information.


About Singapore Business Federation

The Singapore Business Federation is the apex business chamber championing the interests of the Singapore business community in the areas of trade, investment and industrial relations. It represents 27,000 companies, as well as key local and foreign business chambers.

For more information, please visit


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 recognised for our risk-management and clearing capabilities. Find out more at

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