WHEN I MET Mr Ong Pang Aik a few months back, it was at his company’s new head office building in Harrison Road in the MacPherson area.
He proudly showed me and my colleagues around – and as anyone would expect of a building contractor, the Lian Beng Group building was impressive.
Mr Ong was especially happy to highlight that it was more than just a nice environment for his staff to work in. The 10-storey building is ‘green’.
It had received the Green Mark (platinum) Award from the Building and Construction Authority for its numerous 'green' features such as the use of solar cells for electricity generation and the recycling of rainwater.
In another sense, the building symbolises the pinnacle of achievement for a company that started life in 1973 and has grown to become a leading main construction contractor in Singapore with a market value of nearly S$200 million.
Some current numbers tell of its success:
* 9M2011 net profit: It surged to S$37.2 million (up 108.9%) as revenue jumped by 58% to S$379.9 million.
* Cash and cash equivalents: This stood at $119 million as at end-February.
* Order book: Stood at $941 million as at 1 June and will contribute to the Group’s revenue from FY12 through FY14. (The $941 million orderbook includes 4Q2011 revenue which is not recognised yet.)
Fittingly, Mr Ong received the Entrepreneur of the Year 2011 award on Friday night at Marina Bay Sands in the Asia Pacific Entreprenuer Awards organized by APF Group.
Other winners included: Ann Lee, founder/CEO, Adonis Investment Holdings, who was named Woman Entrepreneur of the Year; and Eric Cheng, CEO, ECG Holdings, the Young Entrepreneur of the Year.
In another category, Outstanding Entrepreneurship Awards, Leeden chairman & CEO Steven Tham won for the second successive year.
Since he joined the company in 2000, Leeden has achieved a compounded annual growth rate of 21.3% in revenue in the past 10 years. Revenue hit a record S$191.5 million in 2010 while net profit stood at $7.6 million.
Leeden was ranked No. 5 “Fastest Growing Internationalising Companies of 2010” by DP Information Group and supported by Ernst and Young Solutions LLP, IE Singapore, IDA Singapore, SPRING Singapore and The Business Times.
More on Steven Tham: LEEDEN: Turnaround success with award-winning CEO
More on Lian Beng Group: LIAN BENG: S$119 m cash hoard, stock is 4X PE
Our coverage last year: SERIAL SYSTEM, TREK chairmen win top entrepreneur awards