The Business Times – Weekend

ASME unveils Entrepreneur of the Year Finalists

Small businesses can benefit from good corporate governance but may not benefit from adopting the complete policy structures of larger companies, Kurt Wee, co-chairman of the Association of Small and Medium Enterprises, said yesterday.

Good corporate governance includes risk management, a proper flow of decision-making and transparent financial reporting, he said at the presentation of the 12 finalists for the Rotary Club and ASME’s Entrepreneur of the Year Award 2005.

“Exposure to good governance – how other people do it – is critical,” Mr. Wee said. “ But the level of governance in a company must be in the interests of the business and share-holders.” Certain policies may be unnecessary for a young firm, as they slow decision-making and can make a business less responsive, he explained.

J. Anton Ravindran, one of the award finalists and founder of software company, Genovate Solutions, said: “ One thing we leveraged when going into regional markets is being a Singapore Company. Especially in our industry, corporate governance is not about financial data but also about intellectual property.”

Business partners believe Genovate can protect its trademark products and brand names, said Mr. Ravindran, who makes sure that contracts signed in foreign markets, such as Indonesia or Dubai, abide by the IP laws of Singapore or the UK.

Colin Kua, another finalist and founder of equipment manufacturer Alcotec Precision Engineering, said good governance means more open decision-making that helps all employees understand the company’s mission, so everyone “ walks hand in hand”.

The award finalists this year include entrepreneurs from diverse industries, such as Ronnie Lim of conference manager The Event Company; Michael Ma, owner of the Indochine Restaurant chain; and Tor Lam Huat, who created Ginvera, Singapore’s first home-grown brand of beauty products.

ASME and the Rotary Club will announce the award winner on Nov 4.

Entrepreneur of the Year 2005 (EYA) ~ a Rotary-ASME Award

We are pleased to announce that the Organizing Committee of The Entrepreneur of the Year 2005 ~ A Rotary-ASME Award (EYA) has selected our Group CEO, Mr. J. Anton Ravindran, as one of the Top Entrepreneurs of 2005.

The Press Conference to announce the finalists was held at The Ritz Carlton on 30 Sep 2005. News releases had been published and broadcasted in the following media channels on Fri 30 Sep, Sat 1 Oct and Mon 3 Oct.

	The Channel News Asia - Business Tonight
	The Business Times
	The Straits Times - Money Desk
	Lian He Zao Bao ( Chinese Daily Paper )

The Entrepreneur of the Year 2005 is a premier entrepreneurial accolade that highlights and acknowledges local entrepreneurs who have demonstrated excellence in their field of business expertise while significantly contributing to Singapore's economy and society. Jointly organized by the Association of Small & Medium Enterprises and the Rotary Club of Singapore, the Award is today a distinction that many successful Singapore business-owners aim to attain as an entrepreneurial mark of achievement.

The Rotary Club of Singapore (RCOS) inaugurated the Award in 1989. In 1992, the Association of Small and Medium Enterprises (ASME) joined RCOS as co-organizer. Reborn as 'The Entrepreneur of the Year 2005 ~ A Rotary ASME Award' in 2002, it is a premier entrepreneurial accolade that highlights and acknowledges local entrepreneurs who have demonstrated excellence in their field of business expertise while significantly contributing to Singapore's economy and society. The Award also aims to encourage the development and growth of entrepreneurship in Singapore and promote the growth of Singapore enterprises both domestically and internationally.

Since its inauguration, the award has grown to become a beacon of inspiration for the industries. Out of the 87 finalists to date, 32 CEOs had taken their companies public and were listed in Singapore.

The Award Presentation Ceremony, for 'The Entrepreneur of the Year 2005 ~ A Rotary ASME Award' was held on Friday, 4 November 2005 at The Ritz-Carlton Millenia, Singapore. Over 800 guests, including government officials, CEOs, leaders from the business community, ambassadors and members of the press were present this prestigious event together with the esteemed Guest-of-Honor, Minister of Trade and Industry, Mr. Lim Hng Kiang.

A special feature named “The Entrepreneur Series” will be broadcasted on Channel News Asia. Over the next few months, the success stories of these 12 finalists, as well as winners of Year 2004 will be told through repeated telecasts of 5 different episodes. ASME has adopted a theme for the award this year to represent the fundamentals of growth and prosperity with 4 elements namely Fire, Earth, Water and Gold. Grouping the finalists to these elements, 3 entrepreneurs will be featured in each episode.

Mr. Anton will be appearing on the final episode, to be telecasted in Dec.