Three entrepreneurs who have excelled in their respective fields were announced as winners of the 12th Ernst & Young (EY) Entrepreneur of the Year award on Monday.

Mr Loi Pok Yen, group chief executive of CWT, took the prize for firms in the logistics sector.

For companies in the retail and consumer industry, group chief executive of Focus Network Agencies (Singapore) Paul Loo Lip Giam bagged the award.

Mr Glenndle Sim, executive chairman and chief executive of Mencast Holdings, came out tops in the marine and offshore engineering services.

One of these three winners will eventually be named the EY Entrepreneur of the Year 2013 Singapore at a gala dinner on Nov 14.

He will represent Singapore at the annual EY World Entrepreneur of the Year award in Monte Carlo next year, to compete with contenders from over 50 countries, the audit company said in a statement.

The three winners were selected from 50 nominees and judged on six areas including entrepreneurial spirit, financial performance and global and community impact.

For the first time, Ernst & Young has also teamed up with one of its sponsors, Barclays, to present the inaugural EY-Barclays Family Business Award to the Kelwalram Chanrai Group.

The family-owned Kewalram Chanrai group, which established Olam in 1989, is involved in businesses ranging from textiles in Indonesia to pharmaceutical products in Africa.