8 April 2015
Chance for local brands to vie for 'Oscars'
Ariel Lim

SINGAPORE: At the opening ceremony of the 14th annual Singapore Prestige Brand Award yesterday were Verztec Consulting chief executive Nicholas Goh; SPBA Organising Committee chairman Chew Lee Ching and co-chairman Goh Sin Hwee; and Ya Kun International executive chairman Adrin Loi.

As branding becomes ever more vital to business success, the nation's top annual showcase for this sophisticated process is being lined up.

Think your company has proved its mettle in the branding stakes? Now is the time to put its name forward for the 14th annual Singapore Prestige Brand Award (SPBA) - the Oscars of the local branding scene - which was launched yesterday by the Association of Small and Medium Enterprises (Asme) and Chinese-language daily Lianhe Zaobao.

The award recognises brands that have been developed and managed through effective branding initiatives. Participants must show evidence that their branding efforts have "contributed significantly to the growth and development of the brand".

Entrants are divided into five categories, the first three based on age. Brands established for three to eight years are eligible for the Promising Brands category, while brands established for six to 30 years can participate in the Established Brands category. Brands that are more than 25 years old are eligible for the Heritage Brands category.

Judging criteria include revenue growth as well as brand loyalty for all but the youngest class of brands.

Participants will also be judged on their brand concept and identity. This includes the concept of the brand, such as its vision and mission, and the way it is communicated through design choices such as logo design, colour choice and product packaging.

Those competing in the Heritage Brands category will also be judged based on the link of their brands to company heritage.

A Maybank Regional Brands category is available for brands that are present in at least three foreign markets. Maybank has been the official bank of the award since 2013. Brands in this category are required to demonstrate their penetration into foreign markets, in addition to the criteria mentioned.

Finally, the Special Merit category is intended for government agencies and not-for-profit organisations. Entrants must submit the relevant information in the form of a proposal. The award was declared open yesterday at a ceremony held at the Singapore Press Holdings News Centre.

The ceremony was attended by Ms Chew Lee Ching and Ms Goh Sin Hwee, chairman and co-chairman respectively of the SPBA 2015 Organising Committee. Former winners Adrin Loi, executive chairman of Ya Kun International, and Nicholas Goh, chief executive of Verztec Consulting, were also present. Mr Loi, whose company received the award in 2008, said it had provided Ya Kun with more business opportunities overseas as it attracted franchisees.

Applications for the award must be submitted by noon on May 29.

- The Straits Times

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