Celebrating leadership and organisational success in the region

Across Southeast Asia, privately held companies are raising the bar for organisational excellence, driving innovation and shaping the future of their industries.

Deloitte’s Best Managed Companies awards acknowledge these efforts. Last year, 52 companies across the region – including 10 from Singapore – were recognised for their robust management practices. Participants in this programme benefit from a structured framework to benchmark their performance against global standards and foster continued growth.

Winners also gain access to networking opportunities, such as the recent Community Club Dinner in Singapore, where Deloitte human capital experts shared insights on industry standards and strategies for navigating emerging workforce trends.

Since its launch in Canada in 1993, the Best Managed Companies awards programme has expanded to more than 45 countries across Asia Pacific, Europe and the Americas. In 2024, over 1,700 organisations worldwide joined this community. 

Mr Chua How Kiat, Best Managed Companies leader at Deloitte Southeast Asia, said that winners stand out for their “innovation, purpose-driven value creation, industry leadership, commitment to sustainability, active talent engagement and customer-centric mindset”.

COACHING FOR SUCCESS

Companies applying for the award are entitled to an exclusive lab consultation with Deloitte, designed to assess their strengths and pinpoint areas for further development. This benefit is available to all qualifying participants, regardless of award outcome.

The consultation proved useful in defining HMI Medical’s strategic direction, according to its group CEO Chin Wei Jia. A first-time recipient of the Best Managed Companies award, the fast-growing regional private healthcare provider has a presence in Singapore, Malaysia and Indonesia. 

At the time of its application, HMI Medical was undergoing a transformation from a primarily corporate and investor-oriented entity to a consumer-centric brand. The lab consultation helped its leadership team identify global best practices and uncover growth opportunities.

“We were offered guidance and an evaluation of our company based on four pillars: Strategy, capabilities and innovation, culture and commitment, as well as governance and financials,” shared Ms Chin. These elements have been identified by Deloitte as hallmarks of excellence among leading private companies worldwide. 

LUXASIA, a four-time Best Managed Companies winner and Gold Standard recipient, continues to gain actionable insights from its engagement sessions with Deloitte. The largest omnichannel distributor in its space, LUXASIA has partnerships with more than 100 luxury beauty and lifestyle brands across Asia Pacific. It operates in over 15 markets and has core capabilities in luxury retail, e-commerce, consumer marketing and analytics, as well as supply chain management. 

LUXASIA identified two key practices that have helped it maintain its Best Managed Company status: A top-down and bottom-up strategic planning framework, along with a culture of continuous learning. “Encouraging a growth mindset and fostering innovation by empowering people to try new things are integral aspects of our corporate culture,” said Mr Patrick Chong, founder and chairman of LUXASIA Group. 

Through its lab sessions with Deloitte, the company identified gaps and areas for optimisation, particularly in its tech stack. These findings have helped LUXASIA refine its three-year operations roadmap, enabling a focus on growth while reducing operating costs across multiple levels.

FOSTERING GREATER VISIBILITY AND REGIONAL NETWORKING OPPORTUNITIES

The Best Managed Companies award programme also facilitates collaboration and relationship-building among participants. 

Ms Chin highlighted the meaningful connections that HMI Medical has forged through business forums and discovery sessions offered by the programme. Later this year, its chief financial officer (CFO) will attend a Deloitte-led CFO Lab session designed to address key challenges faced by finance leaders in Southeast Asia.

In the next few years, HMI Medical plans to expand its healthcare portfolio while enhancing its existing services. As part of this journey, the firm seeks to exchange best practices with other Best Managed Companies, fostering cross-sector learning and collaboration.

“We hope to build alliances that align with our corporate strategy,” said Ms Chin. “Additionally, we hope the increased brand awareness will support our ambitions for domestic and regional expansion.” 

Mr Chong added that LUXASIA’s multiple Best Managed Companies award wins serve as a compelling talking point at interviews and in conversations with current and potential brand partners.

Looking ahead, LUXASIA is aiming to achieve Platinum Standard recognition, which requires three more consecutive wins. “Deloitte Southeast Asia’s Best Managed Companies awards programme is a globally recognised badge of honour, and a credible validation of our efforts to grow and transform our organisation,” said Mr Chong. 

Be part of a global community of high-performing companies. Applications for this year’s Deloitte Best Managed Companies awards are now open in Singapore, Malaysia, Thailand, Indonesia and Vietnam. The closing date for application is Mar 14, 2025.