SINGAPORE - Four Indian entrepreneurs were lauded for their business achievements on Saturday (March 31).

Mr Ashok Khosla, founder and group chief executive of Om Associates, a homegrown company that makes and distributes computer memory chips, won the SICCI-DBS Singapore Indian Entrepreneur of the Year Award.

The award, presented by the Singapore Indian Chamber of Commerce and Industry (SICCI), is for large companies with an annual turnover of more than $10 million .

Mr Manokaran Chakrapani, managing director of Mano Equestrian Services, which distributes products related to horses, won the Rising Entrepreneur of the Year Award for companies with an annual turnover of between $5 million and $10 million.

The Promising Entrepreneur of the Year Award for small companies with an annual turnover of less than $5 million was won by Mr Veera Sekaran, managing director of Greenology. The firm provides horticultural consultancy services, such as ideas and concepts for green walls and urban farms.

Besides these three homegrown entrepreneurs, the SICCI also presented the Foreign Entrepreneur of the Year award to Mr Anil Dhanpatlal Agrawal, executive director of KH Foges, a Singapore-based foundation engineering company.

These four winners were picked from a total of 20 finalists, shortlisted in turn from the more than 200 award applications the chamber received this year. The awards started in 2004 are presented annually by the chamber to recognise Indian entrepreneurs.

The winners received their awards from Minister for Trade and Industry (Industry) S. Iswaran at a gala dinner at Swissotel The Stamford on Saturday.

Speaking at the dinner, Mr Iswaran said the annual awards is a tribute to both the achievements of the award winners and the SICCI's role in growing the Indian business community. The Government will continue to back Singapore enterprises and help them succeed, he added.

"In a few days, I will officially launch Enterprise Singapore, formed through the merger of Spring and IE Singapore," he said. "With the formation of Enterprise Singapore, our economic agencies will be in a better position to provide holistic support to Singapore enterprises and position them for success in the future economy."

The merger of Spring and IE (International Enterprise) Singapore was announced by the Ministry of Trade and Industry in September last year. The ministry said then that Enterprise Singapore will help Singapore companies grow and internationalise. More details of how the new agency will do so are expected when it is launched on Monday.