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USQ Entrepreneur takes out E50 Award

· E50,Entrepreneurship,Entrepreneurs

USQ Singapore Alumni Chapter Founder and Chairman and CEO of Ascenz is proud to have been selected to receive the 2017 Enterprise 50 (E50) Awards for the second consecutive year. First established in 1995, the E50 Awards seeks to recognise local, privately-held companies who have contributed to economic developments in Singapore and aboard.

USQ Entrepreneur Chia Yoong Hui - USQ Singapore Alumni Chapter Founder and Chairman and CEO of Ascenz is proud to have been selected to receive the 2017 Enterprise 50 (E50) Awards for the second consecutive year.

While the ranking of companies is based primarily on performance indicators such as Operating Profit Before Tax, Gross Turnover, Return on Equity, etc., elements that reflect the company’s enterprising spirit is taken into consideration as well. This includes qualitative factors such as a company’s business model, productivity and innovation, management ideals and governance, and more.

For decades, the maritime industry had remained stagnant in the area of technology innovation and advancements, and vessel companies continue to suffer costly inefficiencies due to poor visibility and predictability of their vessel operations.

Chia Yoong Hui and his Co-founder, Sia Teck Chong saw the opportunity in integrating big data with ship operations to transform vessels to ‘smart ships’. By utilising critical shipboard data and analytical tools, they seek to equip ship owners and operators with the right management tools for system tracking and key metrics monitoring to achieve performance optimisation and increased fuel savings across your fleet.

Their spirit of entrepreneurship was highlighted by OCBC Group Chief Executive Officer, Mr Samuel N. Tsien, whom noted that “Ascenz had pioneered the use of data analytics to help industry players make better decisions in fuel savings and optimizing vessel performance” becoming a “leading nation player in data acquisition and analytics”.

Chia Yoong Hui, CEO, Ascenz said, ‘In order to accomplish effective vessel performance optimisation, you need accurate data of which our company is founded upon. I am pleased that Ascenz has served a critical role in ship data acquisition and now we are moving upwards the value chain towards data-driven analytics for the future.’

Ascenz is Asia’s leading provider for vessel performance solutions in the maritime industry. Our Shipulse solutions suite aims to provide transparency for regulatory compliance, operational efficiency, and risk management.

The company is widely trusted by large shipping companies such as Yang Ming, Pacific International Lines, China Merchants Group, and Evergreen, to supporting ExxonMobil, Shell, and Chevron on offshore workboat performance.

Since its inception in 2008, Ascenz has grown from a two-man outfit to a global team of 36 of which 25 are in Singapore. With direct offices in 9 countries, and partners in 6, Ascenz is able to provide end-to-end service delivery across 5 continents. The company continues to stay relevant to the Singapore innovation space and stays ahead by embracing innovation and technology while adapting to changing markets.

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