Lance Y. Gokongwei, President and CEO of JG Summit Holdings, Inc. conferred EY-Bank of Singapore Asean Entrepreneurial Excellence award

Tecity Group honored with EY-Bank of Singapore Family Enterprise Award of Excellence

Professional services organization EY announced the four recipients of its 23rd EY Entrepreneur Of The Year (EOY) 2024 Singapore awards:

• EY Entrepreneur Of The Year – Environmental Services: Mr. Edy Tan Wei Hock, PBM, Chief Executive Officer, Chye Thiam Maintenance
• EY Entrepreneur Of The Year – Food and Beverage: Mr. Samuel Yik, Managing Director, Dian Xiao Er Group
• EY Entrepreneur Of The Year – Technology Solutions: Mr. Anthony Chow, Chief Executive Officer and Co-Founder, igloocompany
• EY Entrepreneur Of The Year – Mobility: Mr. Zachary Wang, Co-founder and Chief Executive Officer, Neuron Mobility 

One of the winners will be named the EY Entrepreneur Of The Year 2024 Singapore, and represent Singapore at the annual EY World Entrepreneur Of The Year™ (WEOY) award in 2025 to compete with contenders from over 60 countries and jurisdictions.

Singapore’s representative to the WEOY award will be announced at the EY EOY Awards Gala to be held on 18 November 2024. Minister for Culture, Community and Youth and Second Minister for Law, Mr. Edwin Tong, will be the Guest-of-honor at the awards gala.

The four winners had emerged from a pool of over 80 nominations and were selected by an independent judging panel, based on their merits in fulfilling the four globally benchmarked criteria, namely entrepreneurial spirit, growth, purpose, and impact. 

The chairperson of the judging panel is Ms. Susan Chong (钟淑娴), Founder and CEO of Greenphyto Pte. Ltd., who has served three times as a judge at the World Entrepreneur Of The Year award previously.

She comments on the winners this year:

“The four winners this year epitomize the foresight, agility and courage of leading entrepreneurs. They reflect an interesting mix, coming from traditional industries as well as new sectors that emerged with the rise of the digital and sharing economy. Regardless, they have not stood still against the test of time, competition and market disruptions. Be it investing in technology and innovation to redefine established ways of operating to venturing into foreign markets beyond Singapore or carving a niche for themselves, these entrepreneurs have changed the face of their industries, created new consumer demands and uplifted quality of lives in communities.”

Mr. Liew Nam Soon (刘南顺), EY Asean Regional Managing Partner and Singapore and Brunei Managing Partner (安永亚细安兼新加坡与文莱执行合伙人), Ernst & Young Solutions LLP, explains how the winning entrepreneurs embody this year’s theme of “The Art of Entrepreneurship”.

He says:

“Entrepreneurship is an artful balance of passion, innovation, courage and grit. Like artists, the winners have created a bold vision and pursued their goals unwaveringly, leaving a mark of difference on the communities they serve. Their pursuit of growth and innovation regardless of how long they have been in the business and seeking out opportunities in places that no others have been, serves as inspiration for many as we continue to foster a strong entrepreneurial spirit in Singapore.”

Two other honorary awards conferred for Asean entrepreneurial excellence and family enterprise excellence 

Mr. Lance Y. Gokongwei, President and CEO of JG Summit Holdings, Inc., is named the winner of this year’s EY-Bank of Singapore Asean Entrepreneurial Excellence Award. The award is an honorary award that is presented on board the EOY platform (the award recipient does not compete for the EOY Singapore 2024 title) and recognizes successful Southeast Asian businesses that contribute to the economy and community in the region.  

Mr. Liew says:

“As a second-generation entrepreneur, Lance started with the company as a junior salesperson and worked his way up to eventually steer his father’s company into a flourishing new phase of growth and success. JG Summit Holdings now has a dynamic portfolio in the Philippines and Southeast Asia, spanning sectors including food and retail, aviation, real estate, energy, financial services and telecommunications. His impact can be seen in his contributions to national progress by advancing quality education for the future workforce while transforming the lives of fellow countrymen.”

In another honorary award, Tecity Group is named recipient of the EY-Bank of Singapore Family Enterprise Award of Excellence. Knowledge Partners, Business Families Institute @ Singapore Management University (BFI @ SMU), and the INSEAD Wendel International Centre for Family Enterprise selected the winners.

Mr. Liew says:

“Now in its third generation, Tecity Group honors the legacy of its founding generation through its investment, public-listed and philanthropic arms. The Group inspires with their ability to successfully balance business and family interests, grow the business portfolio sustainably and show responsibility for others through philanthropic and social engagements. How the entrepreneurial and philanthropic spirit continues to thrive through generations is truly exemplary.” 

Partners and sponsors

Bank of Singapore is the presenting title sponsor for the two honorary awards – the EY-Bank of Singapore Family Enterprise Award of Excellence and the EY-Bank of Singapore Asean Entrepreneurial Excellence Award.

The Bank of Singapore, a wholly owned private banking subsidiary of OCBC, is also the platinum sponsor of the EOY awards. 

Bank of Singapore CEO, Mr. Jason Moo, says:

“Bank of Singapore is pleased to be the platinum sponsor of the EY EOY awards in Singapore. Entrepreneurs are an important driving force of the economy, and many of them have pioneered innovations that have significant social and economic impact. We are proud to partner EY to celebrate these entrepreneurs’ tenacity and perseverance in building and sustaining successful businesses.”

The Singapore Exchange Limited (SGX) continues as a partner of the EOY awards for the fifth year.

Mr. Pol de Win, Head of Global Sales and Origination, SGX Group, says:

“In an era marked by rapidly shifting macroeconomic and business landscapes, Singapore entrepreneurs are navigating through unprecedented challenges. These challenges demand not just resilience but innovation. Through programs like the EY Entrepreneur Of The Year Award, now into its fifth year of sponsorship by the SGX Group, we continue to shine a spotlight on the remarkable achievements of our homegrown champions.”

The official media partners of the awards are The Business Times, The Edge Singapore and Portfolio magazine. The supporters are Action Community for Entrepreneurship; Enterprise Singapore; Singapore Business Federation; and SkillsFuture Singapore.

The EY EOY awards program was launched in Singapore in 2002 to honor entrepreneurs who have created and sustained successful business ventures, as well as to coincide with the government’s focus on fostering entrepreneurship and grooming local entrepreneurs. Now in its 23rd year, the program has evolved into a leading business award in Singapore with an international presence and footprint. For more information about the EY EOY program, please visit ey.com/sg/eoy.