Home > etcetera > Singapore Excellence Award and Singapore Enrich Group in the news

Singapore Excellence Award and Singapore Enrich Group in the news

Some time back, I wrote in this blog about The Singapore Excellence Award (pictured above) and about the Singapore Enrich Group (SEG) that gives out the awards. I wrote it because I came to know that a company that I know of had won such an award and I wanted to find out more about it. I did my digging then and found out about the “award” and I did not know that the alarm bells that were ringing to me then would hit the news only now.

In any case, it was reported in The Straits Times Business section on the 19th of July 2015 with the header  “Industry awards: Farce or Fortune?” Ever since then, I have noticed a lot of people have been reading this and the hits to my previous post on this has been sky-rocketing like crazy. A lot of other people have filled the comments section of the previous post, like this gentleman named Paul who also made a post in his blog about this SEG award. His blog post was titled: Beware of “Award” Scam in Singapore. It made for very interesting reading indeed because he speaks from experience:

Beware of this business scam using dubious Award to deceive you into believing that you have been nominated and won an Award. My recent encounter with a company named Singapore Enrich Group Pte Ltd has been an alarm to me that many SMEs (Small Medium Enterprises) might possibility being the victim of this scam Awards. I would like to share this story and alert the business community, members of parliament, and entrepreneurs to beware and report to police accordingly.

Apparently, Paul was told that when he was notified about the award his small company was nominated for by the SEG, he was told that he had to pay a sum of money to get it. A-ha! That is the catch! As I said, it makes for very interesting reading and it even reached The Online Citizen, with their headline: “PAP MPs’ attendance at sham awards events raises questions

At least seven members of parliament (MP) have graced dinner events, with some presenting awards at such dinners, organised by the Singapore Enrich Group (SEG). SEG, which is headed by chief executive officer Alex Yeo, has been in the spotlight since the Sunday Times highlighted its business model – which is to charge companies a fee for being presented with an award and for publicity costs. And as for the awards themselves, they are created by SEG with titles such as: “Singapore’s Outstanding Enterprises” and “Industry Stars”. The nature of the awards themselves has led to criticisms that the awards are in fact sham awards, and which even some of the recipient companies do not know are issued by a private company. These awards are also neither backed or supported by industry associations nor officially endorsed by government bodies, according to the Sunday Times last week.

Looks like there has been something funny that has been going on here. And you know something? The owner of the SEG was interviewed and he said that the Straits Times article had “affected his business”. Not a bad business to have Mr Alex Yeo. And it seems, Alex Yeo’s SEG is not the ONLY one doing this “award” thingy. Other people are doing it as well, as the article found out!

My warning to all you SMEs is to do some due diligence, some reasearch if you will, on so-called companies like these. And all it took to trigger this investigation of mine was my friend’s company being “nominated” for the award. I do not know how much he had to pay for this “award” to be honest but going by what I read here…

  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: