Shih Hsiang Auto Parts Co., Ltd. Wins at the Asia Pacific Enterprise Awards 2021 Regional Edition

SINGAPORE,Aug. 12,2021 -- Enterprise Asia,the organiser of the prestigious fifteenth Asia Pacific Enterprise Awards (APEA) 2021 Regional Edition is pleased to recognise 59 exceptional award recipients who have exemplified excellence and perseverance in this unprecedented period. The APEA awardees have proven resiliency and accelerated tremendously to overcome the unprecedented economic conditions wrought by the global pandemic.

The APEA,an initiative by Enterprise Asia,the region's leading NGO,is the largest regional recognition and acknowledgment programme for trailblazers in the business community. APEA prides itself as a testament to the commitment,aspiration,and true entrepreneurship. With over 800 nominations received each year,and about seven percent were commended to the most deserving for recognition. This year,an impressive number of 130 finalists from 15 countries were up for consideration in the final round of judging and only 59 were crowned as award recipients.

Shih Hsiang Auto Parts Co.,Ltd.'s Journey to Success

Shih Hsiang Auto Parts deals in suspension parts and control arm production and is a global leader and OE solution provider in this field for over 40 years. The company's commitment to customised its items,it integration with the global market and development of precise in-house products that caters to a wide range of car models with over 12,000 sets of tools have made the Shih Hsiang Auto and outstanding expert and major player in the industry. Apart from being a leading supplier in North American and Europe,Shih Hsiang also carries its own brand "SH" in fast-growing countries in Asia,Middle East,Latin Americas and Russia.

Shih Hsiang Auto Parts opened its third new mega plant in Taiwan this year,which give customers shorter lead times with powerful capacity support. Manufacturing is heavily automated,including an automated storage-retrieval system and automatic stamping and welding lines. The whole plant is monitored by IOT allowing production status to be tracked in real time as well as maintaining premium quality. Solar panels make a substantial contribution to the energy transition.

Shih Hsiang Auto Parts Co.,Ltd. was honoured for Corporate Excellence Award at the Asia Pacific Enterprise Awards 2021 Regional Edition

Shih Hsiang has been pursuing the goal of becoming a happy company. In addition to tailor-made training programmes for employees,the company continues to improve its benefits and perks to create a friendly workplace. At Shih Hsiang,employees are part of innovative solutions that improve the quality of daily commuting and change the way people drive. By embracing diversity,sustainability,innovation,technology and well-being in the workplace,the management lay the groundwork for people to achieve great things. In addition,Shih Hsiang firmly believes that a social and ecological balance is required to do business successfully in the long term.

Responsibility and sustainability are part of the Company's Vision and value. Shih Hsiang's contribution to the society was Inspired by the idea of "when you benefit from the society,you share the benefit with the society". Shih Hsiang has spared no efforts to sponsor public activities,such as music education in remote areas,food delivery service to nursing homes,shelters for underprivileged groups,scholarships and industry-academia collaboration.

The family-owned business was founded in 1980. Now with 500 employees,the Company is achieving a growth rate of 285% for the past ten years. The export value accounts for 28% of the global exports of Taiwan's suspension system parts and 48% of Taiwan's suspension system parts exports to the US market. Today,Shih Hsiang plays a leading role in the suspension system industry.

Shih Hsiang has received many incredible recognitions and awards,including the national award of outstanding SMEs,rising star award and OEMA Golden Peak Award for outstanding enterprise and leader.

Shih Hsiang is well prepared for the electric vehicles trend and its suspension arms also apply to electronic car models. The company has also upgrade the control arms for electronic cars with higher durability,tensile strength and lighter weights. Shih Hsiang has also joined the electric vehicle platform "MIH Alliance" established by Hon Hai and aimed at sharing and innovation within the segment.

About Enterprise Asia

Enterprise Asia is a non-governmental organisation in pursuit of creating an Asia that is rich in entrepreneurship as an engine towards sustainable and progressive economic and social development within a world of economic equality. Its two pillars of existence are investment in people and responsible entrepreneurship. Enterprise Asia works with governments,NGOs and other organisations to promote competitiveness and entrepreneurial development,in uplifting the economic status of people across Asia and in ensuring a legacy of hope,innovation and courage for the future generation. For further information,visit www.enterpriseasia.org.

About Asia Pacific Enterprise Awards

Launched in 2007,the Asia Pacific Enterprise Awards is the region's most prestigious awards for outstanding entrepreneurship,continuous innovation and sustainable leadership. The Award provides a platform for companies and governments to recogniseentrepreneurial excellence,hence spurring greater innovation,fair business practices and growth in entrepreneurship. As a regional award,it groups together leading entrepreneurs as a powerful voice for entrepreneurship and serves as a by-invitation only networking powerhouse. The program has grown to encompass 14 countries and markets all over Asia.For more information,visit:www.apea.asia

Media Contact

Ms Nerissa Ng

Enterprise Asia

(60) 3 7803 0312

n.ng@enterpriseasia.org

Tan Yong Keat

(60) 3 7803 1916

yongkeat@businessmedia.asia