A recent survey showed four homegrown companies topping their industries' Corporate Reputation Index (CRI).

NTUC Income (General Insurance), DBS Bank (Retail Banking), Singtel (Mobile Phone Companies), and BreadTalk (Small and Medium Enterprises) came out tops in their respective categories. This was the third year that Reputation Management Associates commissioned the survey, and it zeroed in on the metrics used by the public to define good corporate reputation.

RMA CEO John Lim commented, "The results of the Corporate Reputation Survey 2008 clearly indicate that in this period of financial turmoil, customers and the public expect top companies in a 'Show Me World' to exercise greater transparency and have more frequent dialogues and engagement with them."

As if to prove his point, NTUC Income, the leader in the General Insurance category, has launched an assurance campaign with the tagline, "In tough times home is the safest place to be".

NTUC Income Chief Executive Tan Suee Chieh said: "Despite the current financial upheavals, Standard and Poor's AA rating re-affirms our strong financial position and puts NTUC Income second to none among financial institution in Singapore. Our policyholders can be assured that their money is safe with us. We are prudent and well diversified in our investments, and will continue to be so."

Mr Lim said of DBS Bank, which came out tops in the Retail Banking category, "'DBS Bank has put in a lot of effort to reach out to the public, taking efforts to revitalise the POSBank brand, and I believe this resonated well with survey respondents."

In an interview with AsiaOne, Mr Lim said, "Singaporeans expect top companies to provide excellent customer service, demonstrate strong profitability and growth prospects as well as communicate actively with their various stakeholders and constituents."

In line with their assurance campaign, NTUC Income appears to fully agree with Mr. Lim. As it said in a press statement, "During periods of economic uncertainty, our customers not only expect assurance of prudent investment management, but also excellent customer service and active communication. Our award reflects that NTUC Income has been doing this, and is also a strong testament to our commitment of putting people at the centre of all our decision making process."

Mr. Teo Lay Lim, Country Managing Director for Accenture shares the same sentiment in a Business Times report. He says, "Good times mask poor corporate performance, but it is during downturns that excellent management distinguishes itself. We see the following to be key competencies which companies require to manage in uncertain times:

* Strategic cost management;
* Risk management;
* Customer centricity.

Singapore companies which demonstrate these capabilities will be able to seize the opportunities emerging in a downturn - to gain market share, forge new customer relations, strengthen product and service positions, and progress towards high performance."