Deloitte launches Best Managed Companies programme in Singapore

Deloitte has launched its Best Managed Companies programme in Singapore, which evaluates and awards local leading companies against international benchmarks.

The Southeast Asian branch of leading professional services firm Deloitte has launched its Best Managed Companies programme in Singapore. The flagship programme is administrated by Deloitte Private, which focuses exclusively on serving privately-run clients, and will enable successful and established local private businesses to benchmark themselves against some of the top private companies worldwide.

According to the firm, the Best Managed Companies programme – which was first established in Canada over 25 years ago and has since spread to 17 countries worldwide including Australia and China – applies a “sound and proven evaluation process to assess the businesses’ quality of management in areas including strategy, capabilities and innovation, culture and commitment, and governance and financials.”

“We are very pleased to launch the Best Managed Companies programme in Singapore,” said Richard Loi, head of Deloitte Private for Southeast Asia, which has expanded across the region in recent months. “We believe that this programme will shine a light on leading private businesses in Singapore, distinguishing successful quality companies for strategy, skills, commitment to people and performance.”

Aimed at recognising the country’s most outstanding private businesses, cost-free applications are due by the 7th of February, with companies required to meet a number of criteria for eligibility, including revenues in excess of US$50 million in the most recent accounting year, five years of operation, and headquarters or incorporation in Singapore with the majority of shares privately held in the country.

Those successful will receive tailored support from Deloitte specialists, with a detailed benchmarking analysis to be performed against a 1000-strong global community of best managed private enterprises. The firm will also offer practical solutions for participants. “It will be our privilege to add value to these companies through this process, and be part of their growth journey and success,” said Loi.

From there, a judging panel consisting of representatives from the business and academic realm will review applicants based on best practices to determine the Singapore Best Managed Companies for 2020 – with local winners to be recognised at an awards ceremony in May and invited to a regional symposium the following month. Winners will also be afforded further development opportunities.

In addition to Singapore, the programme has been launched or due to be launched in Thailand, Indonesia, Malaysia and Vietnam (with varying eligibility requirements and application deadlines) – with the Deloitte Private practice itself setting up shop in Thailand, Indonesia and Malaysia over the past couple of months, all jurisdictions with a relatively high prevalence of privately owned companies.