Charles & Keith’s Charles Wong named Businessman of the Year at Singapore Business Awards

SINGAPORE - Charles & Keith Group co-founder and chief executive officer Charles Wong has been named Businessman of the Year at 2024’s Singapore Business Awards (SBA).

“Today, we see our products embraced by communities worldwide, which brings immense joy to my team,” said Mr Wong.

“Looking ahead, we remain committed to harvest the transformative power of fashion (and) offer (an) accessible, aspirational and elevated experience with our brands.”

Four other business leaders were honoured on May 16 at a gala dinner at The Ritz-Carlton, Millenia Singapore.

The SBA, now in its 39th edition, is jointly organised by The Business Times and global logistics giant DHL.

Minister for Communications and Information Josephine Teo, who was guest of honour at the event, noted that Singapore must “make every effort” to promote the adoption of artificial intelligence (AI) beyond just “frontier firms”, so that its benefits can “percolate across multiple industries and economic activities”.

The Government therefore hopes to “partner industry to fulfil our aspirations in AI”, she added. “We have set aside significant funding and articulated specific aims in growing the pool of AI creators, practitioners and users here.”

The Government will set up an AI centre of excellence for the manufacturing industry by end-2024, Mrs Teo said.

It has also been working with AI solution providers to provide a sandbox for small businesses to test generative AI solutions.

After open nominations, winners were decided by a panel of representatives from both the public and private sectors. The 2024 panel comprised 11 judges and was chaired by former Singapore Airlines chairman Stephen Lee.

Mr Wong played a pivotal role in transforming Charles & Keith from a shoe retailer in Amara Shopping Centre into a fashion brand with a distinct identity, said the judges.

He also initiated the digitalisation of the group’s operations and launched an e-commerce site even before online shopping became the norm.

Founded in 1996 by Mr Wong and his brother Keith, Charles & Keith now has almost 700 outlets in more than 30 countries and an online sales presence in nearly 60 markets.

Meanwhile, the Outstanding Chief Executive of the Year award went to Keppel CEO Loh Chin Hua.

Under his leadership, Keppel transformed from an industrial conglomerate into a global asset manager and operator, and posted record profits of $4.1 billion in the 2023 financial year.

“Those of us in this room know all too well that transformation is difficult; this is especially so for companies that are still doing well,” said Mr Loh.

“Yet, without taking the risks associated with transformation, the company might eventually be supplanted and made irrelevant,” he added.

Mr David Su, founding managing partner of venture capital firm Matrix Partners China, was named Outstanding Overseas Executive of the Year.

The firm’s early successful investments in China include electric vehicle manufacturers Li Auto and Xpeng, as well as ride-hailing company Didi Chuxing and food delivery player Ele.me.

Private healthcare company HMI Medical took home the Enterprise Award.

The company, which unveiled a new logo on May 16, has expanded from being a hospital-focused healthcare provider.

Its other businesses include a primary healthcare chain, ambulatory care, ophthalmology, cardiovascular health, and a medical benefits administration arm.

The Young Business Leader of the Year award went to Ms Adeline Sim, chief corporate officer of recruitment and staffing firm HRnetGroup.

The panel found that Ms Sim was instrumental in identifying and executing investments for the group, and spearheaded its digitalisation efforts.

Noting the SBA’s purpose as a platform to celebrate the “remarkable achievements” of business leaders, BT editor Chen Huifen said: “The dedication and ingenuity demonstrated by each award recipient are a testament to the vibrant spirit of entrepreneurship driving our economy forward.”

DHL Express Singapore senior vice-president and managing director Christopher Ong, one of the judges on the panel, said: “As we applaud the achievements of these outstanding business leaders, we also honour the passion, grit and commitment to innovation and progress that brought them to where they are today.

“In doing so, they have inspired many and set a standard for the rest of the business world to follow.”

THE BUSINESS TIMES