THE chief executive of agriculture supply chain manager Olam International Sunny Verghese has been named Ernst & Young Entrepreneur Of The Year (EOY) 2008.

Next stop for the firm's group managing director: Monte Carlo.

Mr Verghese, 49, was presented his award on Thursday at an awards gala held at The St. Regis, where Minister for Finance Tharman Shanmugaratnam was guest-of-honour.

Mr Verghese entered the running for this award after he was awarded the EOY in the Commodities Supply Chain category earlier this month.

Mr Ong Pang Aik, executive chairman of Lian Beng Group, won EOY for the Construction category, while Mr Sim Giok Lak, managing director of Zicom Holdings, was named EOY in the Industrial Products section.

The finalists were judged on entrepreneurial spirit, innovation, personal integrity and influence, financial performance, strategic direction, and national and global impact.

As the overall winner, of EOY 2008 Singapore, Mr Verghese will represent the nation at the E&Y World Entrepreneur of the Year awards in Monte Carlo next year.

He will be contending with 49 other country winners for the title of World Entrepreneur of the Year.

'Sunny Verghese's journey from an employee of a multinational company to a highly successful entrepreneur helming the multi-billion Olam is a compelling and inspiring story,' said Mr Ong Yew Huat, executive chairman of Ernst & Young.

Olam, which is headquartered in Singapore, is the largest supplier of raw cashew nuts in the world, one of the three largest suppliers of cocoa worldwide and among the top three global players in rice.

Established 19 years ago, Olam is now a global enterprise that spans 60 countries, employs more than 9,000 employees and turns over $8.11 billion.