Hi-P International founder and chairman Yao Hsiao Tung, who bagged the top Businessman of the Year award. PHOTO: BUSINESS TIMES

SINGAPORE - Local business leaders were celebrated for making a difference in their respective industries on July 25th, 2023 at the 38th Singapore Business Awards (SBA).

Among the five outstanding business leaders honored was Hi-P International executive chairman Yao Hsiao Tung, who bagged the top award – Businessman of the Year.

He had impressed judges with his tenacity, which enabled him to turn a loss-making business around and grow Hi-P International into one of Singapore’s most diversified contract manufacturers. The company specializes in precision tooling and plastic molding for the telecommunications, consumer electronics, data storage, medical and automotive industries.

Education Minister Chan Chun Sing, guest of honor at the SBA gala dinner, presented the award at the ceremony, which was co-hosted by The Business Times (BT) and DHL at The Ritz-Carlton, Millenia Singapore.

In his acceptance speech, Mr. Yao encouraged young entrepreneurs to dream big and work hard.

“The going may be tough, but the reward will be immense, and the impact you can make on society is immeasurable,” he said.