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ASEAN Business Awards 2018: Recognising ASEAN enterprises with global potential; new category added for family business

3 May 2018 [Singapore] - Launched in 2007 by the ASEAN Business Advisory Council (ASEAN-BAC), the ASEAN Business Awards (ABA) recognises outstanding ASEAN businesses that have also shown significant progress in establishing and reinforcing their positions, in a myriad of sectors.

This year, ASEAN-BAC, will collaborate with Knowledge Partners - Ernst & Young LLP (EY) and Singapore Management University (SMU) – to organise the 12th edition of the ABA, which will be chaired by Professor Annie Koh, SMU’s Vice President for Business Development. Singapore Business Federation (SBF), secretariat to Singapore’s representatives to the ASEAN-BAC, will be coordinating the overall awards.

This year’s Awards will see the addition of a brand new category– the ASEAN Family Business Award. This new category serves to recognise outstanding multi-generational family businesses whose sustainable business models have made a significant impact, financially and socially, in the ASEAN community. It also acknowledges the important role that ASEAN family businesses play in the global economy and showcases winners who lead by example and inspire other businesses to follow in their footsteps.

Professor Annie Koh, Organising Chairwoman of the ASEAN Business Awards (ABA) Committee, comments, "The Awards aims to shine the spotlight on outstanding and promising ASEAN enterprises. By joining the ASEAN Business Awards (ABA), ASEAN companies - be it large, medium, small and micro enterprises, will benefit from the recognition, validation, network and knowledge the awards will bring. The ABA is indeed the launch pad for greater opportunities for their businesses.”

Dr Robert Yap, Chairman of ASEAN-BAC 2018, comments, "As the biggest business awards exclusively for the ASEAN region, being recognised will provide valuable exposure and bring one’s business up to par with global standards. Many of the most recognised businesses and the up and coming ones in ASEAN today are amongst the ABA’s past awardees. This validates the reputation ABA has attained over the years.”

Mr Max Loh, EY ASEAN and Singapore Managing Partner, Ernst & Young LLP, comments, “It is an honour to contribute to the ASEAN Business Awards as the Knowledge Partner. The Awards enables the branding and recognition of our homegrown businesses and helps to position them as credible market players regionally and beyond. Our vast experience in serving companies on their growth, workforce and digital strategies so as to future-proof their business in this disruptive age has helped us in lending insights to the awards criteria. This year’s newly introduced award category, Family Business Award, reflects the importance of inter-generational success in this region where family businesses are prevalent.”

ABA is open for registration from May to July and the Awards ceremony will be held in conjunction with the ASEAN Business & Investment Summit (ABIS), the premier business and investment event in ASEAN from 12-13 November. Organised annually by ASEAN BAC, ABIS provides a platform for the business community to engage with ASEAN Leaders and Economic Ministers, as well as key decision makers. The summit aims to enhance ASEAN's position as an integrated and well-connected region for trade and investment. The Singapore Business Federation will host and co-organise the ABIS with the ASEAN-BAC.

Annex - Fact Sheet on ASEAN Business Awards 2018

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