From left: Sean Chua, managing director of PS Energy Group; Calvin Poon, director of Unigold International; and Karan Narula, managing director of Mercantile Pacific Asia. PHOTO: YEN MENG JIIN, BT

Celebrating Excellence at E50 Awards

In a distinguished ceremony at the Raffles City Convention Centre on Tuesday evening, Elitez Group proudly emerged as one of the 50 most enterprising local, privately held companies in Singapore, securing its place among the prestigious E50 Award winners. Celebrating its 29th year, the E50 Awards recognize companies that have made significant contributions to Singapore’s economic development, both domestically and internationally.

Minister Chan Chun Sing’s Insights on Business Challenges

Minister for Education Chan Chun Sing, the guest of honour, acknowledged the prevailing challenges in the business environment and cautioned about ongoing geopolitical and macroeconomic obstacles. Against this backdrop, Elitez Group’s success not only reflects its resilience but also positions the company as a beacon of accomplishment amid adversity. As businesses brace for the future, Minister Chan Chun Sing emphasized the government’s unwavering commitment to supporting enterprises, underlining the goal of producing 40,000 tertiary graduates annually to enhance the workforce.

Guest of honour Minister for Education Chan Chun Sing speaking at the E50 Awards 2023. PHOTO: YEN MENG JIIN, BT

Elitez Group: Resilience Amid Adversity

Expressing gratitude for the prestigious recognition, Elitez Group’s CEO, Derrick Teo remarked, “Receiving the E50 Award is a profound honor for Elitez Group and a testament to the dedication and hard work of our entire team. In a business landscape marked by unprecedented challenges, this award reaffirms our commitment to excellence and innovation.”

Derrick further added, “Elitez Group is currently on an upward trend, driven by a strategic focus on innovation, adaptability, and a relentless pursuit of excellence. This recognition from the E50 Awards is not just a milestone; it reflects our ongoing commitment to navigating the complexities of the modern business landscape with a steadfast dedication to professionalism and innovation.”

Government’s Workforce Development Initiatives

Minister Chan Chun Sing highlighted the imperative of retraining and upskilling the workforce, with the government allocating substantial resources to this task. With an average tenure of approximately five years in a single company, the government aims to retrain and upskill 20 percent of the workforce annually.

Behind the E50 Awards

Jointly organized by The Business Times and KPMG in Singapore, sponsored by OCBC, and supported by Enterprise Singapore, the Singapore Business Federation, and SGX Group, the E50 Awards have been instrumental in recognizing outstanding companies since 1995. Elitez Group joins a distinguished cohort of more than 700 companies across key business sectors that have been honored over the years.

Our CEO’s assurance of an upward trend reinforces Elitez Group’s commitment to maintaining a trajectory of excellence and professionalism in the years to come.

This story was originally published in Business Time.

Winner List

Source: Business Time/ga

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