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OTO Bodycare honored as one of the Top Small and Medium-sized Enterprises
OTO Bodycare was honored as Singapore's Top 6 small and medium-sized enterprise (SME) in the inaugural Top 100 SME ranking done by Standard Chartered Bank and Dun & Bradstreet Singapore.
At the Award Gala Dinner graced by Ms Jessica Tan, Deputy Chairman, Government Parliamentary Committee, Finance, and Trade and Industry, OTO Bodycare CEO Mr Yip Chee Seng received a plaque from Mr Sunny Verghese, Chairman of International Enterprise (IE) Singapore, that commended the company for this achievement. OTO was the only retailer to be ranked among the Top 10 SMEs.
"OTO's success is guided largely by our strong line-up of products. As an innovative healthcare company, OTO is proud to be showcase many products, such as the OTO Trimax Slimming Belt, the OTO Electro- Rexologist and the OTO e-cell, among others. This is an honor, but it also places pressure on us to do even better for the future," said Mr Yip.
This ranking is based on OTO's Return on Equity (ROE) based on OTO's performance in 2006. Other well known names on the list include Thai Express Concepts and Crystal Jade Golden Palace.
To qualify, companies had to achieve sales between $10 million and $40 million, with fixed assets of less than $15 million. The companies must also turn in a profit for at least two years in a role and be at least 30 percent Singapore-owned.
Companies in the Top 10 ranking achieved average profitability three times higher than other companies among the top 100 SMEs in Singapore.
At the Award Gala Dinner graced by Ms Jessica Tan, Deputy Chairman, Government Parliamentary Committee, Finance, and Trade and Industry, OTO Bodycare CEO Mr Yip Chee Seng received a plaque from Mr Sunny Verghese, Chairman of International Enterprise (IE) Singapore, that commended the company for this achievement. OTO was the only retailer to be ranked among the Top 10 SMEs.
"OTO's success is guided largely by our strong line-up of products. As an innovative healthcare company, OTO is proud to be showcase many products, such as the OTO Trimax Slimming Belt, the OTO Electro- Rexologist and the OTO e-cell, among others. This is an honor, but it also places pressure on us to do even better for the future," said Mr Yip.
This ranking is based on OTO's Return on Equity (ROE) based on OTO's performance in 2006. Other well known names on the list include Thai Express Concepts and Crystal Jade Golden Palace.
To qualify, companies had to achieve sales between $10 million and $40 million, with fixed assets of less than $15 million. The companies must also turn in a profit for at least two years in a role and be at least 30 percent Singapore-owned.
Companies in the Top 10 ranking achieved average profitability three times higher than other companies among the top 100 SMEs in Singapore.