Phoenix Award honours five model entrepreneurs

Like the mythical phoenix, Mr Richard Tan rose from the ashes of corporate failure to fly high as the CEO of Success Resources, a company which organises business seminars in seven countries.

He was recently named the winner of the Phoenix Award 2002/03, organised by EDB and industry as a tribute to entrepreneurs who have overcome setbacks and failure before attaining business success.

Mr Tan's first venture selling a non-slip floor product failed miserably, resulting in nearly 20 lawsuits and huge losses. And just when his seminar business was taking off, he had to battle colon cancer and cope with chemotherapy. Undaunted, he overcame the odds to build up a company that posted $10 million in sales last year.

Four others were named as Award finalists: Mr Ng Whye Hoe of Pet Lovers Centre and Pet Safari Pte Ltd, Dr Foong Wai Keong of Ecquaria Technologies, Mr Kannapan Chettiar of Stansfield Group, and Mr Roderick Chia of Spiral Communications Ltd.