By Francis Chan

BUILDING firms have shrugged off the effects of the downturn to dominate the Enterprise 50 (E50) Awards.

The companies displayed plenty of resilience and initiative in tackling some huge infrastructure projects that came on stream this year.

Finance Minister Tharman Shanmugaratnam highlighted the performance of the sector's standout performer this year - Samwoh Corporation - at the E50 Awards ceremony last night.

'Samwoh broke new ground in sustainable manufacturing by recycling demolition waste to construct eco-buildings,' said Mr Tharman. The initiative helped Samwoh, an asphalt premix supplier, tap on the global demand for environmentally friendly technologies, he added.

Samwoh and fellow construction bigwigs - Ryobi Kiso (Singapore) and Sin Heng Heavy Machinery - took the top three spots at the E50 Awards.

The event again attracted a wide range of participants from key industry sectors such as manufacturing, information technology, logistics and retail.

However, with the construction sector experiencing a bumper season despite the economic slowdown - year-on-year growth hit 18.6 per cent in the second quarter - it came as no surprise that the top three E50 winners were established players.

Like Sin Heng, most benefited from public infrastructure projects rolled out by the Government to boost the construction industry.

'We're into those infrastructure projects,' said Sin Heng managing director Don Tan, whose firm was behind the massive MacRitchie viaduct project. 'We're experts in launching bridges, in fact, most of the overhead bridges and highways here were done by us, and they played a big part in our success.'

The firm, which also trades in heavy lifting equipment, was founded by Mr Tan's father, Mr Tan Ah Lye, in 1968.

The older Mr Tan, who was involved in building Singapore's first viaduct, at Newton Circus in the 1970s, is semi-retired but remains as the firm's adviser.

Sin Heng recorded revenue of $130 million last year on the back of a compounded growth rate of about 20 per cent over the past three years.

Although it was third in the E50 rankings, Sin Heng's success story mirrored the overall winner Samwoh, which was founded in 1971.

Samwoh managing director Elvin Koh said the firm's ability to deliver on mega-infrastructure projects like the Paya Lebar and West Coast viaducts was key to its performance in recent years. With more public infrastructure projects in the pipeline, Mr Koh believes there are still numerous opportunities for growth in the construction sector.

Mr Alvin Tay, editor of The Business Times, one of the event organisers, commended the winners for overcoming a tough year marred by the financial crisis.

'The winners have responded well to the challenges posed by the difficult economic conditions,' said Mr Tay.

'They developed an innovation-led business model, enjoyed differentiated brand positioning, and operated with sound financial management in place.'

But what the crisis really showed was the strength of Singapore, said Mr Tharman.

Beyond the crisis, the minister said the Economic Strategies Committee is formulating strategies to help companies further.

'We want... to help more SMEs build solid capabilities... raise skill and productivity levels in every field, test-bed new products and develop unique brands of our own.'

He added: 'We must also make determined efforts to nurture echelons of leaders... to succeed the pioneers who have built up our companies.'

The E50 Awards, now in its 15th year, recognises the success of local businesses. It was organised by The Business Times and KPMG, while OCBC Bank was the main sponsor.

Top 10 firms

1. Samwoh Corporation

2. Ryobi Kiso

3. Sin Heng Heavy Machinery

4. Tru-Marine

5. Koufu

6. Union Energy Corporation

7. Kenyon

8. Xin Ming Hua

9. Binter & Co

10. Consolidated Pipe Carriers

This article was first published in The Straits Times.