For improving profit margins in the midst of the recent recession, Eric Cheng, chief executive of ECG Holding, was crowned Young Entrepreneur of the Year at the 2011 Asia-Pacific Entrepreneurship Awards.
The Awards recognizes and honors business leaders who have shown outstanding performance and tenacity in developing successful businesses within the region.
When other companies were downsizing and cutting down costs, he splashed out S$250k to upgrade the IT infrastructure at his firm, a property investment company with 1,100 agents. The new IT system is the reason why profit margins improved, he said.
Besides him, executive chairman of Lian Beng Group, Ong Pang Aik was named Entrepreneur of the Year while chief executive of Adonis , Ann Lee collected the Woman Entrepreneur of the Year.
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