Singapore's Lum, the first woman to win the award in its 11-year history, was selected from 49 country finalists.
Lum founded Hyflux in 1989 with two staff and start-up capital of US$15 000. Today, Singapore-listed Hyflux is one of the world’s leading desalination suppliers, with revenues of US$450 million and more than 2300 employees.
“I’m very happy to accept this award on behalf of all the employees at Hyflux. For me, this reinforces there are no difficulties you can’t overcome when you have faced the challenges of hunger and poverty,” said Lum. “It is a great honor to have been selected from among such a fantastic group of entrepreneurs.”