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Supporting Organizations

NEWS RELEASE

For Immediate Release

QUALITY SMEs SHINE THROUGH THE ECONOMIC GLOOM

Consistent achievement means SMEs ready to take on the recession

29 May, 2009 [Singapore] – Whether it is in the area of sales, profits, credit standing or

internationalising, one group of SMEs have shown they have the quality to survive the current

economic downturn.

They are the winners of the 2009 SME Growth Excellence Recognition which identifies companies

with outstanding levels of growth in turnover, profits or international sales, as well as companies

that have made outstanding improvements in their credit standing.

To identify the SME Growth Excellence winners, only unqualified audited financial results are used

and compared to a stringent set of criteria.

The SME Growth Excellence Recognition is co-organised by DP Information Group (DP Info) and

HSBC Singapore. The Recognition is supported by the Infocomm Development Authority of

Singapore, IE Singapore and SPRING Singapore.

It is extremely difficult to qualify for the recognition as it examines revenue and profit results as

well as requiring a company to maintain or improve its DP Credit Rating.

Ms Chen Yew Nah, Managing Director of DP Info said despite the tough criteria, the number of

qualifying companies has increased every year.

“The number of SMEs which qualified increased from 115 in 2008 to 150 this year,” Ms Chen said.

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“The companies qualifying for the Turnover Excellence recognition increased from 31 to 35; in the

Profit category from 86 to 131; in the Credit Rating category from 23 to 25; in the

Internationalising category from 115 to 150; while the number of promising SMEs remained steady

at 45.”

“There are many other indicators that confirm the consistent improvement in quality of

Singapore’s SMEs. For example, the average sales of the Turnover Excellence SMEs rose from

$39.5 million in 2008 to $40.6 million this year. During the same period, the Profit Excellence

companies increased their average profit from $4.1 million to an impressive $16.9 million.”

“We have also seen improvements in the credit standing of the SME Growth Excellence Companies.

Of the 150 qualifying companies, 16% have improved their credit standing during the last two

years from DP5-8 to an Investment Grade Credit rating of DP1-4.”

Fourteen companies have qualified to receive awards in 2 or more categories, indicating local SMEs

are improving their performance in several areas at the same time.

Ms Tan Siew Meng, Head of Commercial Banking for HSBC Singapore paid tribute to the 10

companies receiving the Top Internationalising Award.

“Conducting business internationally is tough and only well run companies with sound business

models will succeed. The 10 SMEs receiving this year’s Top Internationalising Award have proven

they have what it takes to succeed in the global market place.”

“Over the last few years, Singapore SMEs have been extremely successful at winning business

overseas and this is reflected in the number of SMEs qualifying for the Internationalising Award.

In 2007 only 15 SMEs in Singapore qualified, rising to 28 companies this year.”

“The average revenue generated by an SME overseas increased from $12.3 million to $16.4 million,

showing Singapore SMEs are expanding their overseas presence over time. The success of the

SME Growth Excellence companies should encourage other SMEs to take their first step towards

overseas expansion,” Ms Tan said.

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The SME Growth Excellence Recognition identifies 10 companies in five categories:

• SME Growth Excellence for Sales/Turnover – recognises SMEs with a starting

sales/turnover in excess of $20 million and based on the increase in sales/turnover over a two-

year period.

• SME Growth Excellence for Most Promising Enterprises - recognises SMEs with a

sales/turnover between $10 million and $20 million and based on the increase in

sales/turnover over a two-year period.

• SME Growth Excellence for Net Profit – recognises SMEs based on the increase in net

profit over a two-year period.

• SME Growth Excellence for Credit Ratings – recognises SMEs with improvements in their

credit ratings.

• SME Growth Excellence for Top Internationalising SMEs – recognises SMEs with the

highest growth in overseas sales/turnover over a two-year period.

Once a company complies with the criteria, they are then ranked against their peers. This means

only the best of the best are singled out for acknowledgement.

The highest ranked companies in each category are:

SME Growth Excellence for Sales/Turnover

CATTEL ENGINEERING PTE LTD

Cattel Engineering Pte Ltd is a registered contractor with Building Construction Authority (BCA) in

the areas of general building, civil engineering, cable/pipe laying and road reinstatement,

mechanical engineering and underground pipelines for telecommunications. Its customers are

mainly from pharmaceutical, petroleum and chemical process industries.

SME Growth Excellence for Most Promising Enterprises

OFFSHORE CONSTRUCTION SERVICES PTE LTD

Offshore Construction Services Pte Ltd engages in shipbuilding, ship repairing and marine

construction (including harbours, piers, docks, and wharves) and manufacturing of offshore

equipment.

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SME Growth Excellence for Net Profit

CHUAN ENGINEERING (PTE) LIMITED

Chuan Engineering (Pte) Limited is principally involved in mixed construction activities and non-

building construction NEC.

SME Growth Excellence Recognition for Credit Ratings

KENWELL OFFSHORE PTE LTD

Kenwell Offshore Pte Ltd is principally engaged in the sale of fenders and related accessories,

provision of repair and maintenance services of fenders and its related activities. Subject is an

authorized distributor and regional service centre of Yokohama Rubber Co., Ltd (Japan) in

Singapore. Kenwell Offshore carries stock for various sizes of Yokohama pneumatic rubber

fenders and fender accessories in Singapore and is also approved and qualified by Yokohama

Rubber Co., Ltd to provide technical service and support to customers in Singapore and the region.

SME Growth Excellence for Internationalising SMEs

INPHOSOFT PTE LTD

Inphosoft Pte Ltd is involved in information technology, software development and related

business consultancy services, including wholesale and retail of computer hardware and software

and related products. Its vision is to extend wireless technology services and products for

customers and enterprises in 2.5/3G mobile data services, mobile ERP/CRM services and mobile

payment and banking services environments.

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SME Growth Excellence Recognition

2009 Recognition Luncheon

A luncheon honouring the SMEs receiving this recognition will be held today at 11.30 am at

Ballroom 2, The Fullerton Hotel Singapore (Basement 1). The Guest of Honour will be Ms Juthika

Ramanathan, Chief Executive of Accounting and Corporate Regulatory Authority (ACRA).

END

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CONTACT: Matthew Shaw April Ng Rubicon Consulting DP Information Group D: 6465 3029 D: 6507 2340 H: 9851 9340 H: 9820 1080 [email protected] [email protected]

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APPENDIX 1

RECOGNITION RECIPIENTS FOR 2009 SME GROWTH EXCELLENCE RECOGNITION

SME Growth Excellence for Sales/Turnover

Rank Company Name Business / Industry Classification

1 CATTEL ENGINEERING PTE. LTD. Construction - General Construction Activities

2 IPS-LINTEC ASIA PACIFIC PTE LTD Mfg - Machinery / Equipment

3 CABLES INTERNATIONAL PTE. LTD. Wholesale - Electrical / Electronics

4 NAM LEONG CO PTE. LTD.

Wholesale - Construction Materials / Hardware / Metals

5 HIAP CHUAN HARDWARE (PTE.) LIMITED


6 SAMWOH RESOURCES PTE LTD


7 AEROMIC SHIPPING (S) PTE LTD Transport/Storage - Transport - Marine

8 EXPAND CONSTRUCTION PTE LTD Construction - General Construction Activities

9 SOONSTEEL INTERNATIONAL PTE. LTD.


10 VIKING AIRTECH PTE LTD Mfg - Machinery / Equipment

SME Growth Excellence for Most Promising Enterprises


1 OFFSHORE CONSTRUCTION SERVICES PTE LTD Construction - Structural / Mechanical Engineering

2 SIN HIAP CHUAN HARDWARE & ENGINEERING PTE LTD


3 SIA & YEO HEAVY EQUIPMENT PTE LTD Mfg - Machinery / Equipment

4 EASB INSTITUTE OF MANAGEMENT PTE. LTD. Services - Education / Training / Development

5 LONG TECH ENGINEERING PTE. LTD. Mfg - Machinery / Equipment

6 LINGJACK ENGINEERING WORKS PTE LTD Mfg - Machinery / Equipment

7 CHONG TONG CONSTRUCTION PTE. LTD. Construction - General Construction Activities

8 TENGAH ENGINEERING & HARDWARE PTE LTD


9 BESTA DIGITECH PTE. LTD.

Wholesale - Computers / IT / Telecom / Office Apparatus

10 MMI BOILER MANAGEMENT PTE LTD

Transport/Storage - Supporting / Auxiliary Transport / Post Activities

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SME Growth Excellence for Net Profit


1 CHUAN ENGINEERING (PTE) LIMITED Construction - General Construction Activities

2 JEBSEN & JESSEN COMMUNICATIONS (S) PTE LTD

Information & Communications - Supporting Telco Services

3 LINGJACK ENGINEERING WORKS PTE LTD Mfg - Machinery / Equipment

4 RAFFLES SHIPPING PTE LTD Transport/Storage - Transport - Marine

5 LONG TECH ENGINEERING PTE. LTD. Mfg - Machinery / Equipment

6 CATTEL ENGINEERING PTE. LTD. Construction - General Construction Activities

7 EXPAND CONSTRUCTION PTE LTD Construction - General Construction Activities

8 SEE HOY CHAN (1988) PRIVATE LIMITED Wholesale - Food / Beverages / Tobacco

9 YEW CHOON PTE LTD


10 SEIKO ARCHITECTURAL WALL SYSTEMS PTE LTD Construction - General Construction Activities

SME Growth Excellence for Credit Ratings


1 KENWELL OFFSHORE PTE LTD Wholesale - Machinery / Equipment NEC

2 SEIKO ARCHITECTURAL WALL SYSTEMS PTE LTD Construction - General Construction Activities

3 RAFFLES SHIPPING PTE LTD Transport/Storage - Transport - Marine

4 LIKOK MARKETING PTE. LTD. Wholesale - Paper Products

5 KALTECH ENGINEERING & REFRIGERATION PTE LTD Mfg - NEC

6 SIN HIAP CHUAN HARDWARE & ENGINEERING PTE LTD


7 SAMWOH RESOURCES PTE LTD


8 LUCKONG ENGINEERING & STEEL FABRICATION PTE LTD Mfg - Metal / Fabricated Metal

9 NAM CHEONG PAWNSHOP (PTE) LIMITED Finance - Others

10 MMI BOILER MANAGEMENT PTE LTD


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SME Growth Excellence for Internationalising SMEs


1 INPHOSOFT PTE. LTD.

Information & Communications - Computer / E-Commence / IT related

2 CFE ENGINEERS ASIA PTE LTD Construction - Structural / Mechanical Engineering

3 CABLES INTERNATIONAL PTE. LTD. Wholesale - Electrical / Electronics

4 OFFSHORE CONSTRUCTION SERVICES PTE LTD Construction - Structural / Mechanical Engineering

5 YEW CHOON PTE LTD


6 IPS-LINTEC ASIA PACIFIC PTE LTD Mfg - Machinery / Equipment

7 WILMAX ENGINEERING PTE LTD Services - Electronics / Electrical related

8 LINNHOFF TECHNOLOGIES PTE. LTD. Mfg - Machinery / Equipment

9 KENYON ENGINEERING PTE. LTD. Construction - Structural / Mechanical Engineering

10 VIKING AIRTECH PTE LTD Mfg - Machinery / Equipment

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APPENDIX 2

SME GROWTH EXCELLENCE RECOGNITION

DEFINITIONS AND RATIONALISATION

The Singapore SME Growth Excellence companies are selected and ranked based on their audited financial

figures i.e. Sales/Turnover or Net Profit for financial period ending between 1 June 2007 and 31 May 2008.

Comparative financial information is extracted from the companies’ latest financial statements.

1. Qualification Criteria

To qualify for the Recognition, companies must satisfy the following criteria:

• Be registered with the Accounting and Corporate Regulatory Authority (ACRA) as a limited or private

limited company. Only limited exempt private companies which voluntarily submit their audited

financial statements, or whose financials are available from ACRA, will be included in the ranking

exercise. Branches of foreign companies, Cooperatives and Company Limited by Guarantee are

excluded.

• Conducted at least 2 full years of operation.

• Have relevant audited financial statements directly submitted to DP Information Network Pte Ltd or be

available from ACRA. Companies will be excluded from the ranking where the information is not

available or incomplete. Examples include the limited exempt private companies which are not

required to file their financial statements or where Sales/Turnover figures are not presented in the

audited statements.

• Be ranked in SME500 and/or Emerging 200 for 2 years.

• Have an annual Sales/Turnover of less than SGD 80 million.

• Have Fixed Assets of less than SGD 15 million.

• Have at least 30% Singapore local equity ownership and not be a subsidiary of a Public Listed

Company.

• Have an Investment Grade (DP1 – DP4) or High Yield (DP5 – DP6) DP Credit Rating.

• For SME Growth Excellence for Sales/Turnover, recipients must:

� Be profitable during both the SME500 ranking periods

� Have attained at least $20 million in Sales / Turnover in the previous SME500 Ranking Period

� Must also attain a profit margin of at least 5% in the current SME500 Ranking Period

� Have a credit rating that is at least the same or better as compared to the previous year

• For SME Growth Excellence for Most Promising Enterprises, recipients must:

� Be profitable during both the SME500 ranking periods

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� Have attained between $10 million and $20 million in Sales/Turnover in the current SME500

Ranking Period

� Have also attained a profit margin of at least 5% in the current SME500 Ranking Period


• For SME Growth Excellence for Net Profit, recipients must:

� Have attained at least $500,000 in Net Profit in the previous SME500 Ranking period

� Have a profit margin of at least 5% in the current SME500 Ranking


• For SME Growth Excellence for Credit Rating, recipients must:

� Have an improved Credit Rating Grade in current SME500 Ranking, moving from High Yield to

Investment Grade will be recognised in this category.

• For SME Growth Excellence for Internationalising SMEs, recipients must:

� Have qualified for either of the categories of Sales /Turnover, Most Promising Enterprises, Net

Profit and Credit Rating recognition, and have shown exceptional performance internationally.

Only these prequalified companies will be recognised in this category.

2. Sales/Turnover

One of the most fundamental measures of a company’s financial performance, representing total

Sales/Turnover or Gross Operating Income as reported by the company in its financial statements. The

Sales/Turnover figures for individual companies include sales to related or holding companies. The revenue

from banks and other financial institutions include interest and non-interest incomes. Figures for the insurance

companies include premium incomes and other investment income.

3. Net Profit

Net Profit or Profit/Loss after tax includes Profit/Loss of subsidiary and associate companies but excludes the

adjustment of minority interests. Figures in parenthesis “( )” indicate losses.

4. Total Assets

Total Assets include current assets, fixed assets, investments and amounts owed by related or holding

companies at its fiscal year-end. Expenditure carried forward, expenditure deterred, goodwill and identifiable

intangibles such as patents, trademarks and mastheads are excluded.

5. Total Liabilities

Total Liabilities include all current and long term liabilities at a company’s year-end.

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6. Shareholders’ Funds

This is the sum of all paid-up capital, share premium, retained earnings, capital reserves and other reserves at

a company’s year-end but excludes minority interests. Currency translation reserves are included as part of

the Shareholders’ Funds.

7. Group Consolidated Account

Companies are ranked in terms of consolidated performance, if available. This includes both the performance

of the company and its subsidiaries. All inter-company transactions are eliminated upon consolidation.

8. Holding Vs Subsidiary Companies

To ensure that the ranking list is as comprehensive and complete as possible, all individual companies who

qualify for this ranking and whose financial statements are available, are ranked. Subsidiary companies are

therefore evaluated and ranked as a separate legal entity from its holding companies.

9. Annualisation of Figures

Financial information stated is based on a company’s financial year ending within 1 June 2007 to 31 May 2008.

For changes in accounting period, annualised Sales/Turnover and Net Profit (After Tax) figures will be taken

into consideration. Shareholders’ equity and assets are not annualised. (refer to examples 1 & 2)

Below are two examples on the computation :

Example 1 - Company with reported Sales/Turnover and Net Profit (After Tax) for over 18 months, will be

annualised by using the fraction 12/18 :

Period from 1 July 2006 to 31 December 2007 ($’000)

Annualised Value For Ranking (Figures Adjusted to 12 months) ($‘000)

Sales / Turnover 18,000 12,000 [i.e. 18,000 x 12/18]

Net Profit 6,000 4,000 [i.e. 6,000 x 12/18]

Example 2 - Company which has changed its accounting period from March to December such that there are

two accounting periods in 2007, i.e., year ended 31 March 2007 and period ending 31 December 2007 (9

months), will be ranked on the following basis:

Year ended 31 March 2007

($’000)

Period ended 31 December 2007

($’000)

Annualised Value for Ranking

(Figures Adjusted to 12 months ($‘000)

Sales/Turnover 30,000 20,000 27,500 [i.e. 20,000 + (30,000 x 3/12)]

Net Profit 10,000 9,000 11,500 [i.e. 9,000 + (10,000 x 3/12)]

Shareholders’ Funds 20,000 22,000 22,000

Total Assets 60,000 56,000 56,000

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10. Current and Previous

Financial information is presented under two columns, namely, ‘Current’ and ‘Previous’. Information reflected

under ‘Current’ refers to figures for financial year ending between 1 June 2007 and 31 May 2008. Information

reflected under ‘Previous’ refers to the comparative information presented in the financial statements for the

year ending between 1 June 2006 and 31 May 2007.

11. Nationality

‘Nationality’ refers to the place of incorporation of a company’s ultimate holding company.

12. Business Classification and Industry Averages

The business classification of a company is determined in accordance to its principal activity in which it

generates the main bulk of its Sales/Turnover and Net Profit.

Industry Averages for Peer groups are calculated by averaging out the Sales/Turnover and Net profit figures for

all companies listed under a particular business classification.

13. Percentage (%) Change from Previous

This compares a company’s ‘Current’ against its ‘Previous’ performance in percentage (%) terms. Percentage

change from the previous is not applicable to companies which have experienced a negative to positive growth

and vice versa (refer to example 3).

Example 3 - Company’s ‘Current’ against its ‘Previous’ performance in percentage (%) terms

Current 2008 ($‘000)

Previous 2007 ($‘000)

Percentage (%) Change from 2007

Company A 10,000 5,000 100

Company B 10,000 (5,000) NA

Company C (10,000) 5,000 NA

14. Qualifications in Audited Financial Reports

Companies included in the Sales/Turnover and Net Profit ranking comprise all companies for which their

accounts are audited. Companies included in the rankings other than in Sales/Turnover, Sales/Turnover &

related, Net Profit, Net Profit and related categories, comprise companies for which there are no qualifications

expressed in the Auditors’ Reports.

15. Internationalising SME Recognition

Companies are selected and awarded based on completed survey forms submitted to DP Information Pte Ltd

and their audited Sales/Turnover from overseas market. Sales/Turnover from overseas refers to the turnover

derived from market(s) outside Singapore.

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16. Foreign Currency Translation

All figures reported in foreign currencies are converted to Singapore dollars at their respective average

exchange rate for the ranking period. For example, for companies with December 2007 financial year ending,

the average exchange rate is computed by adding all the month end exchange rates from January 2007 to

December 2007 and then divided by 12 to determine the average exchange rate.

END

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APPENDIX 3

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ABOUT DP INFORMATION GROUP

DP Information Group (DP Info) is Singapore’s leading credit and business information bureau. A veteran of nearly 3 decades, we currently service 95% of Singapore’s financial institutions and some 75% of leading law firms. Through our 24/7 online information portal, QuestNet, we enable our clients to make confident credit management decisions everyday based on comprehensive, accurate and reliable information. DP Info Group offers a credit management score for the national credit consumer market and is also a developer of DP Credit Ratings, its own proprietary corporate credit ratings model based on the global probability of default approach. DP Info is a strong advocate for the SME and entrepreneurial segment, managing and operating an ACRA-appointed service bureau, DP Bureau, which assists SMEs and entrepreneurs in starting their business and operating them effectively and efficiently through their initial years. Information Services

� Corporate / Individual Information & Litigation Searches

� Industry Research & Survey Management

� Singapore 1000 & SME 500, Singapore International 100 & Fastest Growing 50 Rankings & Certification

� Marketing Lists & Campaign Management

� Credit and Legal Monitoring Credit Management Services

� Corporate Credit Rating & Consumer Scoring

� Corporate & Consumer Credit Bureau

� Debt Recovery & Account Receivables Management & Training

� Credit Portfolio Analysis & Consultancy SME Bureau & Advisory Services

� Registration & Filing of Local & Foreign Companies/Business

� SME Regulatory / Application / Business Services

� SME Advisory Services

� ACRA Appointed Service Bureau for BizFILE

� MOF Appointed Bureau for Government Supplier Registration Services (GSRS)

� Corporate Secretarial & Management Services

DP Information Network Pte Ltd is an ISO/IEC 27001 Information Security & Data Management certified company. Certification

No. GB06/68548

www.dpgroup.sg

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