Press release

3 Oct 2019 Singapore, SG

IYUNO Media Group CEO Mr. David (Hyonmoo) Lee named EY Entrepreneur Of The Year™ 2019 Singapore

SINGAPORE, 3 October 2019 – Mr. David (Hyonmoo) Lee, CEO, IYUNO Media Group has been named EY Entrepreneur Of The Year (EOY) 2019 Singapore by professional services organization, EY

Press contact
Sophia Mah

Media Relations Lead (Assurance, Tax, Strategy and Transactions, Growth Markets), Ernst & Young Solutions LLP

Passionate about the influence of media, both old and new. Avid reader. Closet cynic. Loves to travel.

Mr. David (Hyonmoo) Lee, CEO, IYUNO Media Group has been named EY Entrepreneur Of The Year (EOY) 2019 Singapore by professional services organization, EY. This was announced at the 18th EY EOY awards gala held at The Ritz-Carlton, Millenia Singapore this evening, where Mr. Ng Chee Meng, Minister, Prime Minister’s Office and Secretary-General, National Trades Union Congress, was the guest-of-honor.

Mr. David Lee, who was also named EY Entrepreneur Of The Year – Digital Media Supply Chain, will be Singapore’s representative at the prestigious EY World Entrepreneur Of The Year (WEOY) to be held in Monte Carlo, Monaco in June 2020. He will compete with more than 50 other countries for the coveted world title. The EY WEOY competition is the hallmark of the awards program, offering a platform to profile local entrepreneurs among the world’s best business leaders.

(Please refer to fact sheet A for past WEOY winners)

On winning the top honor, Mr. Lee says:

“This award inspires me to keep doing what I do with an even stronger devotion. Yet I know that a growing and successful business can be still be vulnerable. The bigger our company grows, the greater our responsibility to our employees, their families, our investors and the communities that we are a part of. I dedicate this award to fellow entrepreneurs who haven’t been discovered but continue to persevere in making their vision a reality.”

In addition to the top honor, EY presented five EOY category awards at the gala:

  • EY Entrepreneur Of The Year – Media and Entertainment
    Mr. Ron Tan, Executive Chairman and Group CEO, Cityneon Holdings
  • EY Entrepreneur Of The Year – Education 
    Mrs. Ng Gim Choo, Founder and Managing Director, EtonHouse International Education Group
  • EY Entrepreneur Of The Year – Digital Media Supply Chain   
    Mr. David (Hyonmoo) Lee, CEO, IYUNO Media Group 
  • EY Entrepreneur Of The Year – Workspace Solutions 
    Mr. Kong Wan Sing, Founder and CEO, JustCo
  • EY Entrepreneur Of The Year – Financial Services 
    Mr. Yeah Hiang Nam (PBM), Managing Director and CEO, ValueMax Group Limited

Please refer to fact sheet B for profiles of the winners and their companies.

An independent judging panel had selected the winners based on their merits in the six global judging criteria, namely entrepreneurial spirit, financial performance/value creation, strategic direction, national and global impact, innovation and personal integrity/purpose-driven leadership. The award recipients were selected from close to 40 nominations.

Please refer to fact sheet C for members of the judging panel and details of the judging criteria.

Chairman of the judging panel, Mr. Ron Sim, also Executive Chairman and CEO of V3 Group Limited, comments on Mr. David Lee’s winning attributes:

“Under the visionary leadership of David, what started as a passion for subtitling content has now flourished into one of the world’s largest global media service providers. Beyond commercial success, David has distinguished himself for his tenacity in riding out the disruptions in the industry through technology innovation, his agility in building a global footprint, and his belief in fulfilling the larger purpose of fostering inclusiveness by bridging cultures through quality localization of the spoken word.”

Unstoppable – innovate, disrupt, transform

Disruptive forces and uncertainty bring challenges across all industries and every aspect of business. 

Mr. Max Loh, Singapore Managing Partner, Ernst & Young LLP says:

“Today, disruption has worked its way into every sphere of our lives. Yet disruption can be both an opportunity for differentiation and an existential threat. More than just reacting to disruption, our winning entrepreneurs have taken bold steps to leverage the very causes of disruption – technology and globalization – to innovate their businesses and in many cases, also change the face of their industries.

“These winning entrepreneurs are part of a special group: the ones who never give up and are unstoppable. They cut through the noise of this transformative age by breaking away from the pack, forging on no matter what difficulties they face, fueled by their vision and passion, the trust that their families, stakeholders and employees place in them, and their belief in innovation to grow regardless of how long they have been in the business.”

Please refer to fact sheet B for the quotes on winning the category awards and their thoughts on disruption and innovation.

Special honor for Udenna Corporation and Far East Organization

At the gala, EY presented the EY Asean Entrepreneurial Excellence award to Mr. Dennis A. Uy, Founder, Chairman and President of Udenna Corporation.

Mr. Loh says:

“From the setting up of Dencio’s Kamayan to the founding of Udenna Corporation, which today manages a highly successful portfolio of multiple business interests that span a variety of industries, Dennis’ entrepreneurial story is truly outstanding. His impact extends beyond job creation through his portfolio of companies to charity-driven ventures through the Udenna Foundation and Phoenix Philippines Foundation, bringing to life how successful corporates can contribute to the society and help build a better working world – and in his case, in the Philippines.”

Mr. Uy shares the motto that he lives by:

“We in Udenna are in the business of business. We are inspired by the sight of our future for we believe Filipinos deserve better, now.”

Please refer to fact sheet D for winner profile. 

EY also presented the EY Family Business Award of Excellence to Far East Organization.

Mr. Loh says:

“Family businesses are an important segment of our economy. We believe the legacy that Far East Organization has built over the decades, its commitment to an enduring set of family and enterprise values, and how it continues to grow from strength to strength, will serve as an inspiration for many family-run enterprises in their pursuit of harmonizing both family matters and business excellence.”

Please refer to fact sheet E for winner profile, eligibility and selection criteria.

The official partners of the EOY awards are The Business Times and The Edge Singapore (official media partners) and Merrill Corporation (data partner). The supporters are Action Community for Entrepreneurship; Enterprise Singapore; Singapore Business Federation; and SkillsFuture Singapore.

The EY EOY awards program was launched in Singapore in 2002 to honor entrepreneurs who have created and sustained successful business ventures, as well as to coincide with the government’s focus on fostering entrepreneurship and grooming local entrepreneurs. Now in its 18th year, the awards has evolved into a leading business award in Singapore with an international presence and footprint. For more information about the EY EOY program, please visit



About EY

EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit

This news release has been issued by Ernst & Young Solutions LLP, a member of the global EY organization.

About EY Entrepreneur Of The Year™ 

EY Entrepreneur Of The Year™ is the world’s most prestigious business awards program for entrepreneurs. The program makes a difference through the way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global awards program of its kind, Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 145 cities in more than 60 countries.

Fact sheet A: EY World Entrepreneur Of The Year past winners

Past WEOY winners

2001: Paolo della Porta, President, Chairman and Group CEO of Saes Getters S.p.A., Italy

2002: Stefan Vilsmeier, President and CEO of BrainLAB AG, Germany

2003: Narayana Murthy, Founder and Chairman of Infosys Technologies Limited, India

2004: Tony Tan Caktiong, President of Jollibee Foods Corporation, The Philippines

2005: Wayne Huizenga, Chairman of Huizenga Holdings Inc, US

2006: Bill Lynch, CEO of Imperial Holdings, South Africa

2007: Guy Laliberté, Founder and CEO of Cirque du Soleil, Canada

2008: Dr. Jean-Paul Clozel, Founder and Chairman of Actelion Pharmaceuticals, Switzerland

2009: Cho Tak Wong, Chairman of Fuyao Glass Industry Group, China

2010: Michael Spencer, Group CEO of ICAP plc, UK

2011: Olivia Lum, Group President and CEO of Hyflux Ltd, Singapore

2012: James Mwangi, CEO and Managing Director of Equity Bank Limited, Kenya

2013: Hamdi Ulukaya, Founder, President and CEO of Chobani, Inc., US

2014: Uday Kotak, Founder, Executive Vice Chairman and Managing Director of Kotak Mahindra Bank, India

2015: Mohed Altrad, Founder and CEO of Altrad Group, France

2016: Manny Stul, Chairman and Co-CEO of Moose Enterprise Holdings & Controlled Entities, Australia

2017: Murad Al-Katib, President and CEO of AGT Food and Ingredients Inc., Canada

2018: Rubens Menin, Chairman of MRV Engenharia e Participações S.A., Brazil

2019: Brad Keywell, CEO of Uptake Technologies Inc., US

Fact sheet B: EY Entrepreneur Of The Year winner and company profiles

(Information provided by winners’ companies)

a)  EY Entrepreneur Of The Year 2019 Singapore

EY Entrepreneur Of The Year – Digital Media Supply Chain 
Mr. David (Hyonmoo) Lee, CEO
IYUNO Media Group 

Quote on receiving the category award:

“When I first founded IYUNO 17 years ago, I did not begin with a grand vision of creating jobs, disrupting the industry or delivering positive social impact. But, in our journey to become one of the world’s largest global media service providers, I have come to understand that that these larger values are the true definition of success as an entrepreneur. Thank you, EY, for inspiring us all to be better leaders.”

Quote on disruption and innovation:

“IYUNO has been successful in meeting the major transformations of the media and localization demands – from TV to OTTs requiring massive volume and high-quality translations. The biggest disruption to come in the world of media subtitling would be the commercial use of AI.

“The value of machine learning has been questioned in the world of commercial media subtitling, where quality expectations is much higher. By fully understanding the industry-specific demand and utilizing our technology to fill in the gaps of machine-created quality, IYUNO is currently disrupting ourselves by building industry-specific AI engines. This will not only empower the overall affordability of media localization to enable better accessibility of cross-border content; it also enables quicker turnaround that will fuel the expansion of global over-the-top (OTT) media that are actively taking advantage of faster and wider international broadband networks.”

About Mr. David (Hyonmoo) Lee

David Lee is CEO of IYUNO Media Group. He started IYUNO in Seoul, Korea in 2002 in the last year of his university studies in civil engineering.

Having seen the limitations of free subtitling software, he developed his own proprietary technology, MediaTrans, which quickly became the subtitling software of choice, owning 90% of the output for the Korean market at that time. He further innovated to overcome talent and technology challenges by developing the cloud-based platform, iMEDIATRANS, which is celebrated for enabling convenient management of massive multi-language projects through a centralized cloud, while optimizing internal and external resources from around the world.

David has led IYUNO to achieve record-breaking revenue generation while maintaining high quality operation standards. In 2018, IYUNO was named the “10 Hottest Media & Entertainment Tech Solution Service Providers” by APAC CIO Magazine and “A Front Runner in the Multi-Language Subtitling Space.”

Mr. Lee is 44 years old.

About IYUNO Media Group 

Established in 2002, IYUNO provides its exceptional clients the highest quality in end-to-end localization, media, and creative post-production services. A technology trailblazer with grounded core values in an ever-changing industry, it uses its sophisticated in-house technology for all of its product and service offerings.

With state-of-the-art studio facilities in 15 countries and counting along with a network of global studio partners, IYUNO’s talent network covers over 47 languages. IYUNO's combination of multi-layered human and automated quality control is built into its service offerings to ensure superior results, regardless of project scale or timeline. IYUNO is headquartered in Singapore and has 700 employees globally.

b)  EY Entrepreneur Of The Year – Media and Entertainment

Mr. Ron Tan, Executive Chairman and Group CEO
Cityneon Holdings

Quote on receiving the category award:

“This is not a personal achievement. It is only made possible by the support from our past and present shareholders, global studio partners, clients, bankers, management and all team members of Cityneon. I am receiving the award on behalf of the company, and all who kept the faith with Cityneon from the onset. I am thankful and honored to be this year’s Singapore recipient in the Media and Entertainment category.”

Quote on disruption and innovation:

“The greatest disruption to our business is digitization.

“Digitization has created massive information overflow. It constantly distracts and overwhelms. Human beings today have the attention span of mosquitoes! They demand instant gratification. The audience longs for engagement and participation. They want to have an experience. They need to be entertained. 

“Cityneon is a global experience entertainment company. We are honored to work with top multibillion-dollar studios Disney, Marvel, Universal, Hasbro, and Lionsgate, who entrust us to create unforgettable immersive experiences with their blockbuster movies.  

“Our continued transformation is to scale globally with the leadership of a strong management team that is multicultural and diverse. Globalization is key to   sustainable continuous growth with diversified revenue streams across different markets. It also gives us access to global top talents to take Cityneon to greater     heights.”

About Mr. Ron Tan

Ron Tan is Executive Chairman and Group CEO of Cityneon Holdings, and CEO and President of Victory Hill Exhibitions, a wholly owned subsidiary of Cityneon Holdings.

Ron has transformed Cityneon into one of the fastest-growing companies in Singapore and Cityneon’s market capitalization is approximately S$700m today. Previously, he sat on the boards of several local and international listed companies, as well as multiple international entertainment companies such as EMS Holdings, Hi-5 World, and BASE Entertainment Asia. In his earlier careers, he served in various positions at MediaCorp, LexisNexis Asia-Pacific in Singapore and Hong Kong, the Singapore Tourism Board and Economic Development Board of Singapore.

A former student of Chinese High school and Hwa Chong Junior College, he was awarded the prestigious Singapore government scholarship to pursue a Bachelor of Science degree at the University of Hawaii at Manoa, and graduated with a perfect 4.0 GPA.

Mr. Tan is 48 years old.

About Cityneon Holdings

With its global reach and international partnerships, Cityneon has the capability to serve its clients anywhere in the world. Cityneon was listed on the Mainboard of the Singapore Stock Exchange since 2005, and was privatized on February 2019 by West Knighton Limited, a company wholly owned by Cityneon’s Executive Chairman and Group CEO Ron Tan together with Hong Kong veteran entrepreneur and investor Johnson Ko Chun Shun. Johnson is a capital markets veteran and has held controlling interests and directorships in many listed companies. 

In May 2019, Cityneon welcomed CITIC Capital as a new shareholder, who holds 10.36% shares in Cityneon. CITIC Capital is part of CITIC Group, one of China’s largest conglomerates, and has over US$25b of assets under its management across 100 funds and investment products globally. Most recently in August 2019, EDBI, a government-linked global investor, made a strategic investment in Cityneon to support the Group for further expansion globally.

c)   EY Entrepreneur Of The Year – Education
Mrs. Ng Gim Choo, Founder and Managing Director

EtonHouse International Education Group

Quote on receiving the category award:

“As a former housewife from a Chinese-educated background, I never expected that one day I would win this honor. It is especially meaningful, because I was once an auditor in EY. My experience there gave me the necessary foundation to start my entrepreneurship journey. I would like to thank my family, as well as everyone at EtonHouse for this. I hope this inspires other women to do something extraordinary for the community.”

Quote on disruption and innovation:

“Today, the world is going through a digital revolution. Some education businesses are investing in e-learning and digital classrooms. However, we believe that physical classrooms play an important role in learning, especially in the case of early childhood education as young children learn best when all senses are engaged. Of course, we are incorporating high-tech tools into our teaching!

“We are meeting this disruption head-on by being the disrupters ourselves. For example, with Middleton International School, we have established a new business model for more affordable quality education. In this way, we are able to capture an underserved sector of the market, while also benefiting society as a whole.

“We keep challenging the status quo, and pushing ourselves to break boundaries.” 

About Mrs. Ng Gim Choo

Ng Gim Choo is the Founder and Group Managing Director of EtonHouse International Education Group. Prior to setting up EtonHouse in 1995, Gim Choo worked as an audit manager in Ernst & Young and then a partner in an audit firm. Her motivation to enter the education sector stemmed from her experience as a mother in the UK where her children went to school in London and were extremely happy and engaged. She was inspired to establish a similar school in Singapore.

In EtonHouse, she provides strategic leadership and focuses on curriculum and staff development with an emphasis on establishing new standards of excellence in international education.

Gim Choo has been engaged in several philanthropic initiatives. In 2015, she set up the EtonHouse Community Fund, an independent charity that supports underprivileged children.

She is also a mother of three, an avid golfer and an enthusiast of Chinese art and calligraphy.

Mrs. Ng is 67 years old.

About EtonHouse International Education Group

The EtonHouse International Education Group is headquartered in Singapore with over 100 schools, providing high quality education to over 15,000 children across 12 countries.

Over the last 24 years, EtonHouse has been at the forefront of international education offering innovative pre-schools and K-12 schools. The Group has won several accolades. The international IB school in Suzhou was voted one of China’s best international schools by a research firm based in Washington DC founded by MIT Alumni.

EtonHouse is appointed by the Singapore government as an anchor operator to launch E-Bridge Pre-School for Singaporean families. It also runs Middleton International School for expatriate families.

With a deep commitment to research and professional development, it offers high quality training and international conferences well-attended by educators in the region. It is also the first organization to represent Reggio Children in Asia.

The Group has an independent charity, EtonHouse Community Fund, to help underprivileged children.

d)  EY Entrepreneur Of The Year – Workspace Solutions  

Mr. Kong Wan Sing, Founder and CEO

Quote on receiving the category award:

“This entrepreneurial journey hasn’t been easy but has definitely been a rewarding one. Co-working used to be associated with freelancers and entrepreneurs. Today, we are disrupting the industry by attracting Fortune 500 companies who see value in being connected in a co-working workspace. I’m truly humbled to win this award, and it is only possible with the great support from a very capable JustCo team, our members, key investors and last but not least, my family.”

Quote on disruption and innovation:

“Co-working spaces are the greatest disruption to the commercial real estate industry and it is breaking the walls of traditional offices, by offering more flexibility and a community that encourages networking to help drive success to businesses. Flexible co-working spaces today do not only appeal to entrepreneurs, start-ups, but also to large businesses and Fortune 500 companies.

“To future-proof our business and remain competitive, we innovate by ramping up our technology capabilities. The JustCo App was created to allow members enjoy seamless access to all JustCo centers in Asia, and help make office life easier by digitalizing administrative tasks. JustCo Labs was also initiated to serve as a nurturing ground for the next generation of technology innovators and disruptors.

“Additionally, JustCo will be piloting a smart digital workspace to facilitate and connect members based on their preferences within the community. We will also engage space utilization analytics to evaluate the effectiveness of our spaces.

About Mr. Kong Wan Sing

Founder and CEO of JustCo, Kong Wan Sing is a property and real estate veteran with close to 20 years of experience.

Wan Sing’s entrepreneurial streak was discovered early. As a fresh graduate from New York University, he traded an attractive opportunity to work in Goldman Sachs New York and started his own finance firm in Boston. Subsequently, he joined the real estate division of the family business, Sing Long Group, in Malaysia for seven years. He then took on the role of Senior Associate Director with Mapletree Investments for five years.

In 2011, Wan Sing took the leap of faith to set up JustCo, a premium flexible workspace provider catering to businesses of all shapes and sizes. Driven and passionate, Wan Sing has led JustCo to become a leading player in the Asian market in a short period of time, recognized for providing open, collaborative and flexible co-working spaces to clients.

Mr. Kong is 42 years old.

About JustCo

Founded in 2011 and headquartered in Singapore, JustCo has established itself as the only Asian co-working space provider with a multi-city presence across Asia-Pacific. Backed by Singapore sovereign wealth fund GIC, and multinational property developer Frasers Property, we continuously aim to disrupt the status quo and redefine collaborative working.

In our communities, we connect dynamic entrepreneurs, start-ups and large corporations. People are at the heart of what we do, as we create networking events and strategic partnerships for our members and partners to gain insights, collaborate, and help each other drive success to their business.

As the first Asian coworking space provider to take over an entire building – named JustCo Tower, we have the ability to transform buildings into mega multi-level smart coworking spaces, deploying JustCo’s very own innovative solutions and technologies.

We make work better by revolutionizing how people work, empowering our ever-growing community with exceptional flexibility, opportunities and experiences.

e)     EY Entrepreneur Of The Year – Financial Services
Mr. Yeah Hiang Nam (PBM), Managing Director and CEO
ValueMax Group Limited

Quote on receiving the category award:


“The pawnbroking business of ValueMax generates unredeemed pledges such as gold, jewellery and branded watches, which can be rejuvenated for resale, giving consumers access to a sustainable shared economy of pre-owned luxury. The activities of pawning, buying and selling form a gold-jewellery-and-watch ecosystem for ValueMax.”

  Quote on disruption and innovation:

“Renewed pre-owned jewellery selling in ValueMax offers unbeatable value and is disrupting the jewellery retail industry. On the other hand, digital technology has the potential to disrupt the pawnbroking industry. In order to mitigate the risk of disruption, ValueMax is investing heavily in digital technology to offer more solutions online and potentially partner with the best solution providers to offer the most advance technology for the pawnbroking business.”

About Mr. Yeah Hiang Nam (PBM)

Yeah Hiang Nam is the managing director and CEO of ValueMax Group Ltd. He was a jewelry salesman before starting his own gold ornament manufacturing and wholesale business in 1979. He opened up new markets and exported to the Middle East during the economic recession in 1984, then moved his manufacturing plant to Malaysia. In 1990, he moved his market and production plant to Hong Kong and China, and around the same time, started a pawnbroking business in Singapore. Nearly a decade later, he ceased his overseas operations to focus on the pawnbroking trade locally and in Malaysia. 

Mr. Yeah received the Top Entrepreneur in the Entrepreneur of the Year Award 2010 by Rotary-ASME. He was conferred the Public Service Medal in 2016, is a Patron of Clementi Citizens’ Consultative Committee, and also the Honorary President of Singapore Pawnbrokers’ Association, Teo Yeonh Huai Kuan, and Yeow Si Gong Huay.

Mr. Yeah is 71 years old.

About ValueMax Group Limited

ValueMax was established in 1988 and is one of Singapore’s oldest and best-established pawnbroking chains. ValueMax stores also carry a wide range of exquisite new and pre-owned diamond jewelry, gold items and luxury timepieces that are attractively priced for sale. Other businesses include gold wholesale trading, moneylending, secured loans and remittance.

As the leading pawnbroking group with the largest market capitalization, ValueMax is the only pawnbroker to be listed on the Mainboard of Singapore Exchange. The Group currently has 35 pawnbroking and retail outlets in Singapore and 11 pawnbroking outlets in Malaysia.

ValueMax is an award-winning company and some of its accolades include the Singapore Quality Class – Service Award, Singapore Prestige Brand Award - Established Brands, Enterprise 50 Award and Singapore SME 1000 Award – in Net Profit Excellence and Sales Growth Excellence. ValueMax was also the first pawnbroker to be accredited with CaseTrust certification in 2004.

Fact sheet C: EY Entrepreneur Of The Year judging panel and criteria

Judging panel

Ron Sim (Chairperson)

Executive Chairman and CEO

V3 Group Limited

EY Entrepreneur Of The Year 2003 Singapore

Chia Nam Toon

Assistant Group CEO

ARA Asset Management

Alvin Lim

Managing Director

CVC Capital

Dr. Shi Xu

Founder and Executive Chairman

Nanofilm Group

EY Entrepreneur Of The Year 2017 Singapore

Prof. Annie Koh

Vice President, Business Development

V3 Group Professor of Family Entrepreneurship

Professor of Finance (Practice)

Academic Director, Business Families Institute and International Trading Institute

Singapore Management University

Ng Cher Pong

Chief Executive

SkillsFuture Singapore

Judging criteria

The following six judging criteria sets the global standard adhered to by each and every country participating in the EY Entrepreneur Of The Year awards.

·  Entrepreneurial spirit

The individual is a risk-taker who sets very high standards and demonstrates an unflinching desire and determination to succeed despite significant obstacles.

·  Financial performance/Value creation

The business has demonstrated strong financial performance and maintains a good track record in raising finance. Coupled with quality investments and its focus on the development of human capital, the business has the potential for long-term sustainability.

·  Strategic direction

The individual not only creates and turns business visions into realities, but also builds strategic alliances and empowers talents to achieve common goals.

·   National and global impact

The business has displayed a high degree of potential for growth and expansion into international markets that has made national and global impact in terms of job creation and improved living economics.

·   Innovation

The individual has pioneered a new approach or technology, embraces changes and continuously innovates.

·   Personal integrity/Purpose-driven leadership

The individual earns great respect and is able to communicate ideas and influence the wider community. The individual’s enforcement of socially responsible practices seeks to improve the quality of life. The individual demonstrates a commitment to the highest ethical and quality standards in business activities and operations.

Factsheet D: EY Asean Entrepreneurial Excellence Award winner profile

(Information provided by winners’ companies)

EY Asean Entrepreneurial Excellence Award

Mr. Dennis A. Uy, Founder, Chairman and President

Udenna Corporation

About Mr. Dennis A. Uy

Dennis A. Uy is the Founder, Chairman and President of Udenna Corporation, established in 2002.

Udenna Corporation has seven business pillars, namely:

  • Oil, gas, and retail - Phoenix Petroleum and FamilyMart 
  • Shipping and logistics - Chelsea Logistics and Infrastructure Holdings, Corp.
  • Property development and management - Udenna Land
  • Education and food - Enderun Colleges & Conti’s Restaurant
  • Infrastructure development - Udenna Infrastructure Corp
  • Tourism and gaming - PH Resorts Group Holdings, Inc
  • Telecommunications - Dito Telecommunity Corporation

His other notable positions in the group are:

  • Chairman, Chelsea
  • President and CEO, Phoenix Petroleum Phils Inc.
  • Chairman, PH Resorts Group Holding Corp
  • Chairman and CEO, Dennison Holdings Corp

For the group’s corporate social responsibility mission, he is the Chairman of both Udenna Foundation and Phoenix Philippines Foundation.

Dennis is a member of the Young Presidents Organization - Philippine chapter and the Philippine Business for Social Progress. He has been the Honorary Consul for Kazakhstan to the Philippines since November 2011. He was also appointed Presidential Adviser for Sports in July 2016.

He is 45 years old.

About Udenna Corporation

Udenna Corporation (UDENNA) is the parent company of the Udenna Group. Its business includes distribution and retail of petroleum products, as well as shipping and logistics. UDENNA has expanded and diversified its portfolio to include property development, education, food, gaming, tourism, and infrastructure. Recently, Dito Telecommunity Corporation (majority of which is owned by Udenna Corporation and Chelsea Logistics) was granted its permit to operate by the Philippine government and is set to be New Major telecommunications service provider in the Philippines by late 2020.

From its beginnings in 2002, UDENNA has successfully listed on the Philippine Stock Exchange two of its subsidiaries, PHOENIX Petroleum Philippines, Inc. (PNX.PM) and Chelsea Logistics and Infrastructure Holdings Corp. (C.PM). Both have become acknowledged independent challengers and leaders in industries with long histories of non-competitive environments.

UDENNA now employs around 9,000 personnel and is expected to create thousands more jobs for Filipinos in the next five years. Now in its 17th year, UDENNA will continue to move aggressively and help propel the Philippine economy while enhancing the lives of Filipinos.

Factsheet E: EY Family Business Award of Excellence

Winner profile, eligibility and selection criteria

(Information provided by winners’ companies)

EY Family Business Award of Excellence

Far East Organization

About Far East Organization

Far East Organization is a Christian Enterprise, which develops real estate and operates businesses by serving with grace, love, integrity and honesty.

Together with its Hong Kong-based sister company Sino Group, Far East Organization is one of Asia’s largest real estate groups with presence in Singapore, Malaysia, Australia, Hong Kong and China.

It was established in 1960 by the late Mr. Ng Teng Fong and has contributed to the transformation of Singapore’s urban landscape with over 780 developments including 55,000 private homes.

As the largest private property developer and residential landlord in Singapore today, Far East Organization develops, owns and manages a diverse spectrum of real estate products in the residential, hospitality, retail, commercial, healthcare and industrial space segments.

It seeks to inspire better lives by doing good business and doing good in business. Led by the belief that the places in which we live, work and play help nurture progress and success, it is committed to constantly innovating and creating effective spaces that will improve the lives of customers and property users.

Far East Organization today includes three listed entities: Far East Orchard Limited and Far East Hospitality Trust and Yeo Hiap Seng Limited, as well as private development and investment companies.

It is the winner of 11 FIABCI World Prix d’Excellence awards, the highest honor in international real estate.

About the award

The Family Business Award of Excellence was launched in 2013 to recognize family businesses that have made significant socio-economic contributions and demonstrated the ability to harmonize between business and family matters. It is jointly selected by knowledge partners, Business Families Institute @ Singapore Management University and the Wendel International Centre for Family Enterprise, INSEAD.

Family businesses that have been honored include the Kewalram Chanrai Group, B.P. de Silva Holdings, Eu Yan Sang International Ltd, Jebsen & Jessen (SEA) Pte Ltd, Tolaram Group and Sing Lun Holdings Pte Ltd.


· Leadership of the company includes family member(s) from second or subsequent generations, or has multiple branches of a family involved in leadership. (i.e., one individual and first generation would not     qualify for the award).

· The family still has a significant ownership and voting stake and is primarily responsible for setting the strategic direction and values for the firm.

· The legal form of the company or group of companies is not relevant.

· Companies may be private or publicly traded.

· If the shares and voting rights have been transferred to a trust, it will remain to be considered as family business if the family has dominant influence on the       trust in a way described above.

·  The business or headquarter of the business is located in Singapore.

Judging criteria:

· Company shows evidence of a successful, sustainable and long term-oriented strategy.

· Company has adopted an effective and transparent corporate governance approach, enabling the execution of the desired strategy and living out of family values.

·       Company governance enables unity among the ownership family (i.e., little evidence of significant family disputes impacting the business).

·       Demonstrated the ability of the family to preserve company culture, tradition and values and maintain the entrepreneurial spirit and continued innovation over generations.

·       Evidence shown of exceptional personnel management.

·       Commitment to philanthropic causes or corporate social responsibility.

·       Other exceptional achievements such as business awards, public service etc.