IF THERE is one thing in common about the companies that received top accolades at this year’s Enterprise 50 (E50) Awards, it is probably the fact that they tend to view the Covid-19 pandemic not as a setback – but as an opportunity.
More importantly, they did not shy away from what needed to be done to fully embrace the ensuing disruption – whether it is rising costs or supply chain woes – even if this meant having to make decisive changes to the way things have always been done.
For precious metals recycling firm BR Metals, which won the top spot as well as the Internationalisation Award, this means diversifying its business for long-term sustainability.
Last year, it made a greenfield venture into “green gold” at a time when Singapore was ramping up its green economy push, even as it continued to expand in the region.
Runner-up Yeap Medical Supplies and healthcare group Minmed Group, which bagged the Transformation Award, may have benefited from the surge in demand for healthcare services and supplies during the pandemic, but they are not about to rest on their laurels.
Both have begun their long-term plan towards sustainable revenue growth by developing new business segments. For Yeap Medical Supplies, it is products targeted at eldercare as the population ages, while Minmed Group wants to marry healthcare and fitness and has branched into exercise studios.
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Fresh from a restructuring exercise, security firm Apro Asian Protection, second runner-up at the awards, is looking into ways it can tap technology to reduce its reliance on manpower amid rising costs, even as it pledges to pay salaries that are above market rate.
These companies received their honours on Wednesday (Nov 23) from Minister of State for Trade and Industry Low Yen Ling at the 28th edition of the E50 Awards, held at Resorts World Sentosa.
For many of these small and medium enterprises, this year’s E50 theme, “Ready, Reset, Grow”, fully encapsulates their can-do spirit to transform for the better, even in the face of adversity.
It is this attitude that will carry them through, regardless of what or when the next disruption will be.
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