The Straits Times clinched a silver award for Best in Newspaper Overall Design at this year's Asian Media Awards ceremony, held yesterday.
Hong Kong's South China Morning Post (SCMP) won the gold in that category, while China Daily was awarded bronze.
The competition is organised by the World Association of Newspapers and News Publishers, and drew more than 400 submissions from all over Asia.
Prizes were presented at Publish Asia - an annual conference for the publishing industry - yesterday.
Other awards given out at the event in Bali celebrated outstanding editorial content, infographics, photojournalism and newspaper marketing. Papers that won big included the SCMP as well as Malaysia's The New Straits Times.
"We're proud to receive this award - the fourth year running that we've been recognised for our design," said Mr Lim Chuan Huat, associate editor of The Straits Times.
"The particular edition which we submitted for the competition was our Budget Day special. It was a major newsroom-wide effort and offered us an opportunity to showcase our design capability - combining great art and graphics with creative and bold presentation.
"The thinking that went into producing the entire issue was excellent, and it showed in the final product."
In another contest, Straits Times journalist Lydia Lim was one of three winners of this year's Prize for Economic Journalism in Asia.
Her piece, titled "What to do about robots and artificial intelligence", won an award for the best journalistic work.
Ms Lim was formerly associate opinion editor at the paper, and is currently head of training and talent development for the English/ Malay/Tamil Media Group.
Explaining why she decided to write about artificial intelligence, the 47-year-old said that she has always believed her mission as a journalist is to "help readers make sense of the world we live in".
The competition was organised by IE Business School, a well-known private institution in Spain which offers graduate programmes. It received more than 200 submissions from 60 different media organisations around the region.
"The winners were chosen for their depiction of how global trends are impacting the spending power of Asia," said the school in a statement.