SHAH ALAM (Sin Chew Daily) — The list of 119 winners in the six categories of the second edition of sin Chew Business Awards has been unveiled while the Lifetime Excellence Achievement Award and Business Excellence Person of the Year Award winners will be announced in late September during the award presentation dinner.

The second edition of the Sin Chew Business Awards is jointly organized by Sin Chew Daily and MCIL Multimedia Sdn Bhd The event's exclusive sponsor is CIMB Bank.

Supporting partners of the Sin Chew Business Awards include the Federation of Chinese Associations Malaysia (Hua Zong), the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM), Small Medium Industry Association of Malaysia (SMIAM), Malaysian Retailer-Chains Association (MRCA), Persatuan Usahawan Maju Malaysia (PUMM), Branding Association of Malaysia, the Malaysian Institute of Corporate Governance (MICG), Junior Chamber International (JCI) Malaysia and JCI Kuala Lumpur Mandarin (JCIKLM).

The other event partners include Fine Paper Takeo Sdn Bhd, Skynet and Setia City Convention Centre. Grant Thornton Malaysia is the event auditor.

The theme for this year's event is "Innovation, Transformation and Sustainability."

Winners in the following categories were announced today: Business Sustainability Excellence Award, Retail Excellence Award, Product & Service Quality Excellence Award, CSR Excellence Award, Property Excellence Award, and Young/Emerging Business Excellence Award.

CIMB's head of research explained the future investment trends in a ceremony announcing the names of award winners today.

According to survey report, bumiputras are less inclined in investing in equity and real estate markets while Chinese Malaysians put majority of their savings in fixed deposit accounts and Indians invest most of their money in gold or jewelleries.

Among the many real estate development projects, Mah Sing Group's Eco World Development is the most sought after.

He said real estate development sees an uptrend in 2014 and the problem now is not the excessive demand but undersupply of residential units.

Meanwhile, Grant Thornton senior executive director Seah Siew Yun shared about the influences of taxation to a company. She said many businesses owners concentrate only on expanding their businesses, and often pass the taxation problem to their subordinates without trying to get to understand the actual taxation situation.

"Some bosses never oversee the procedures in tax handling and this results in some unnecessary penalties for them."

She said if the bosses would handle the taxation matters according to procedures in addition to focusing on their businesses and profits, they will be able to avoid some unnecessary fines.

"She urges business owners to strictly monitor their company policies and every procedure and step, interact more often with taxation agencies in order to get a better understanding of taxation issues.