Entrepreneurs honoured at Ernst & Young EOY awards
At the 10th Ernst & Young Entrepreneur Of The Year (EOY) awards this year, entrepreneurs were recognised as an important part of the economy. The four winners of the Ernst and Young EOY award together provided employment to over 3000 people globally. The winners were Richard Eu from Eu Yan Sang in the traditional healthcare category, Derek Goh from Serial System in the electronic components distribution category, Andrew Tjioe from Tung Lok Restaurants in the lifestyle category, and Tan Wee Beng from Wee Tiong in the emerging category.
With the highest overall score, Richard Eu was chosen as the top winner. He will now represent Singapore at the Ernst & Young World Entrepreneur Of The Year (WEOY) award in Monte Carlo next year. Deputy Prime Minister Teo Chee Hean, who was at the event, said that the Singapore economy had rebounded strongly last year from the global financial crisis, and registered GDP growth of 14.5 per cent. However, he said this year’s economic outlook is less certain and concerns of a double-dip recession in the US have intensified, while growth in many advanced Western economies has stalled. He added that Singapore is highly susceptible to global economic developments, and that GDP growth is expected to be around five per cent this year.
Mr Teo said: “Even in uncertain times, however, there are emerging opportunities that our companies can tap on. Growth in Asia remains robust and the region is set to be a major growth driver over the next few decades. “Situated at the heart of this dynamic region, Singapore is well-positioned to ride on this growth. Our entrepreneurs must stay nimble and take advantage of these opportunities to enter new markets as dynamics shift.” He also noted that Singapore’s pool of entrepreneurs and new companies continue to grow each year. In 2010 alone, more than 29,000 companies were formed in Singapore, the highest number in the past 10 years.