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TRANSCRIPT
We’ve got the globe covered
Expanding your business?
Annual Report 2004 / 2005
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d Bangkok • Beijing • Charleston • Chengdu • ChennaiChongqing • Colombo • Dalian • Doha • Dubai • FrankfurtGuangzhou • Ho Chi Minh City • Hong Kong • JakartaKuala Lumpur • London • Manila • Mexico City • MoscowMumbai • New Delhi • New York • Pekanbaru • QingdaoSan Francisco • Santiago • Sao Paulo • Seoul • ShanghaiSingapore • Stockholm • Sydney • Taipei • Tokyo • Xi’anWashington DC • Yangon • Bangkok • Beijing • CharlestonChengdu • Chennai • Chongqing • Colombo DalianDoha • Dubai • Frankfurt • Guangzhou • Ho Chi Minh CityHong Kong • Jakarta • Kuala Lumpur • London • ManilaMexico City • Moscow • Mumbai • New Delhi • New YorkPekanbaru • Qingdao • San Francisco • SantiagoSao Paulo • Seoul • Shanghai • Singapore • StockholmSydney • Taipei • Tokyo • Xi’an • Washington DC • Yangon
Meet our officers and the companies that have ventured abroad...
[ The Consortium Connection ]
By forming this consortium, we are able to combine our capabilities
and services to meet the massive market demands in the Middle
East. The formation of SBIC in a record two weeks shows the
enthusiasm and need of the consortium members to join forces.
This enthusiasm is an endorsement of IE Singapore’s iPartners
programme. Without iPartners, this joint initiative would be very
difficult, if not impossible. Francis Lee, Chief Executive Officer, DP Architects and Chairman, SBIC
Formed in May 2005, the Singapore Building & Infrastructure Consortium
(SBIC) is in direct response to Singapore Government’s call to encourage
local firms to venture into the Middle East. It is made up of a team of
highly experienced architects and construction professionals. The 14
companies in the consortium are able to leverage on one another’s
existing experience and connections to offer an integrated and complete
value chain of services in the engineering and construction sector.
Anchor company:
DP Architects Pte Ltd
Members:
Meinhardt Infrastructure Pte Ltd, Meinhardt (Singapore) Pte Ltd,
Meinhardt Façade Technology (Singapore) Pte Ltd, SembCorp Engineers
& Contractors Pte Ltd, Tiong Seng Contractors Pte Ltd, Singco Pte Ltd,
Beca Carter Hollings & Ferner (Southeast Asia) Pte Ltd, Rider Hunt Levett
& Bailey, KPK Quantity Surveyors (1995) Singapore Pte Ltd, Façade
Master Pte Ltd, Connell Wagner Pte Ltd, Arup Singapore Pte Ltd and
Lightweight Concrete Holdings Pte Ltd.
AR_2
“
”
BACK ROW (from left to right): Leong Kok Yeong, Managing Director, Beca Carter Hollings & Ferner (Southeast Asia), Andrew Khaw, Acting Director, IE Singapore,
Winston Hauw, Director, Rider Hunt Levett & Bailey, Mathieu Meur, Director, Meinhardt Facade, John Fung, Director, LWC and Charlie Ang, Senior Officer, IE Singapore
FRONT ROW (from left to right): Loh Kwi Leong, Director, KPK Quantity Surveyors, Isabel Yeo, Account Manager, IE Singapore, John Perry, Principal, Connell Wagner,
Francis Lee Seng Wee, Chief Executive Officer, DP Architects, James See, Executive Director, Singco Pte Ltd, Dr See Lin Ming, Associate Director, Meinhardt (Singapore) Pte Ltd,
Philip Kwang, Chief Executive Officer, Facade Master, Sani Chang, Director, Connell Wagner and Pek Lian Guan, Director, Tiong Seng Contractors Pte Ltd
Not Pictured – Chan Kok Siong, Managing Director, Meinhardt Infrastructure Pte Ltd and Chin Heng Yuen, Senior Vice President, Business Development, SembCorp Engineers & Contractors Pte Ltd
Singapore Building &Infrastructure
Consortium
[ Food and Berverage Venture ]
IE has been extremely instrumental in helping us find the
right strategic partner that ensured our successful launch of
Crepes and Cream in the Phillipines. The introduction to, and
understanding of, the market would have been a bigger uphill
task if not for IE Singapore’s continuous support.
Thank you IE Singapore! Douglas Foo, Chief Executive Officer, Apex-Pal International Ltd
Apex-Pal International is an innovative food and beverage group adopting
a holistic approach to the business of delivering healthy and fresh food
concepts. Listed on the Singapore Stock Exchange, Apex-Pal International
is the proprietary owner of brands such as Sakae Sushi, Crepes and
Cream, Hibiki, Uma Uma Men and Nouvelle Events. The group has
outlets spanning across Malaysia, Thailand, Indonesia, the Phillipines
and China.
AR_4
“
”
Lee Ching Wern, Account Manager, IE Singapore and Douglas Foo, Chief Executive Officer, Apex-Pal International LtdApex-PalInternational Ltd
[ Keeping a Pulse on Healthcare ]
IE Singapore has supported us with relevant advice and support
for our ventures to go abroad. In particular, the organisation has
been introducing us to potential business partners as well as
keeping us informed of potential business opportunities that
may arise in the healthcare industry.Dr Sandra Chu, Director, Pacific Healthcare Holdings Pte Ltd
Pacific Healthcare Holdings Pte Ltd is an integrated healthcare provider
offering a comprehensive range of services. These include specialist
medical care, general practice medicine, dentistry, health screening,
wellness services, as well as the operation of nursing homes,
day surgery centres and a psychiatric hospital.
AR_6
“
”
(from left to right): Dr Martin Huang, Director & Consultant Plastic Surgeon, Pacific Healthcare Holdings, Dr William Chong, Director, Pacific Healthcare Holdings,
Dr Sandra Chu, Director, Pacific Healthcare Holdings and Satvinder Singh, Assistant Director, Corporate Group, IE SingaporePacific Healthcare
Holdings Pte Ltd
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To be an expert agency in firm-level growth,
market intelligence and internationalisation strategies
To help Singapore-based companies grow and
internationalise successfully
[ Vision ]
[ Mission ]
[ Contents ]
Chairman’s Message 10
CEO’s Message 12
Meet Our Board Members 16
Significant Events 2004 - 2005 21
The Year in Review 29
Our Global Reach 33International Operations
Your Partner to Global Success 53Corporate GroupEnterprise GroupCapability Development Group
Building Internal Strengths 73Corporate Services GroupCorporate Events and Resources GroupCorporate Planning GroupGlobal Business Insights
Steering Committees 80
Success Stories 83
[ Chairman / Euleen Goh ]
The growth of Singapore’s external economic
wing will offer benefits to many future
generations of Singaporeans. Towards that
end, Singapore’s economy will increasingly tap
into the dynamic and rapidly growing trade
and investment flows, both in the region and
around the globe.
“
”
Euleen Goh
Chairman
AR_11
Singapore’s economy is poised for exciting times ahead, with globalisation
offering new opportunities for growth. We are pleased that International
Enterprise (IE) Singapore has played a role in the development of a
robust and broader external economy with more Singapore-based
companies expanding successfully to different parts of the world.
Building a Strong External Economy
The growth of Singapore’s external economic wing will offer benefits to
many future generations of Singaporeans. Towards that end, Singapore's
economy will increasingly tap into the dynamic and rapidly growing trade
and investment flows, both in the region and around the globe.
Besides trade, Singapore-based companies have been actively investing
overseas. According to available figures, Singapore’s total direct investment
abroad grew strongly from S$98.3 billion in 2000 to more than S$153.5
billion in 2003, registering a 56 per cent increase over three years. This
investment trend is set to increase as Singapore-based businesses
continue to seek overseas market opportunities.
New Market Frontiers
On our part, we have been actively engaging the world’s economies by
establishing more Free Trade Agreements (FTAs). These FTAs represent
superhighways on which our goods can access international markets.
To enhance the practical benefits of FTAs for businesses in Singapore,
IE Singapore launched the FTA outreach programme to explain and highlight
the workings of the agreements and the opportunities they present.
Trading With the World
Looking back, the year 2004 turned out to be a good one for Singapore’s
economy. Our GDP recovered with a healthy 8.4 per cent in 2004 from
a SARS-struck 2003’s 1.4 per cent. Total trade in 2004 reached a record
high of S$580 billion from S$474 billion the year before.
In the first half of 2005, Singapore’s total external trade increased by
11 per cent. This was supported mainly by robust oil trade and non-
oil re-exports. The outlook for the rest of 2005 remains cautiously
optimistic on the basis of broad-based growth in major economies of
the world.
Our neighbour Malaysia has traditionally been Singapore's top trading
partner and this trend continued with a jump in total trade from
S$77.2 billion in 2003 to S$88.3 billion for the year in review. Total
trade with the US, our second top trading partner, also saw an increase
from S$64.5 billion in 2003 to S$72.1 billion in 2004.
Economic ties between Singapore and China continued to soar in 2004,
knocking off past year’s trade figures to reach new heights. Bilateral
trade for the year in review hit S$53.3 billion, a healthy increase of 44.5
per cent compared to 2003, with strong growth fuelled by increases
in Singapore’s exports to and imports from China. China overtook Japan
in 2004 to become our third largest trading partner.
India is yet another key market with an optimistic growth outlook as
we come into the third quarter of 2005. In terms of total trade, India
has overtaken China as Singapore’s fastest growing trading partner.
Total trade with India reached a record S$11.8 billion in 2004, an
increase of 48.9 per cent from S$7.9 billion the year before.
Total volume of trade with the Middle East, a relatively untapped region
among Singapore-based businesses and one that promises many
opportunities, also saw an increase in 2004, reaching S$33.6 billion.
Similarly, Europe continues to be an important market, with the European
Union's share of Singapore’s international trade rising steadily over
recent years to peak at 13.2 per cent in 2004.
Towards the Future
Looking ahead, IE Singapore is committed to help Singapore-based
companies, both big and small, to penetrate more markets and bring
them to even greater heights. We will continue to press ahead to
strengthen our international network to better assist companies tap
emerging opportunities to create a dynamic external economy that will
position Singapore on the global map for many years to come.
[ Chairman’s Message ]
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“ Between 1993 and 2003, and in what
can aptly be termed the decade of
regionalisation, we saw an increasing
number of Singapore-based firms taking
deliberate steps to build their presence
in regional markets. For the next
decade starting from 2004,
we believe Singapore-based
businesses will enter a phase
called the decade of
internationalisation.
[ Chief Executive Officer / Lee Yi Shyan ]
”
AR_13
Our mission to help Singapore-based firms grow and internationalise
successfully has given us a unique instinct to sense business opportunities
around the world.
Everyday, our people–based in Singapore and in over 35 different
locations around the world–work hard to discover new market
opportunities that Singapore-based firms can tap on. We are constantly
communicating with foreign companies who are interested in doing
business with Singapore. Our work in International Enterprise (IE)
Singapore has never been more exhilarating and rewarding as we
continue to chart frontiers in new markets and remain tuned to the
pulse of the global economy.
Given our small domestic market, Singapore-based businesses have
long had a history of venturing abroad to seek growth. Between
1993 and 2003, and in what can aptly be termed “the decade of
regionalisation”, we saw an increasing number of Singapore-based
firms taking deliberate steps to build their presence in regional markets.
Singapore’s most representative large scale projects include the many
industrial parks our companies have built in countries like China, India,
Vietnam and Indonesia.
For the next decade starting from 2004, we believe Singapore-based
businesses will enter a phase called “the decade of internationalisation”.
We envision these ten years as a time when our export of services will
increase even further, reflecting the growing nature of Singapore’s
knowledge-based economy. The private sector will increasingly be taking
the initiative to expand overseas, with support from the government.
Businesses will also be simultaneously tapping on regional and global
markets, leveraging on the many free trade agreements Singapore has
signed with key trading partners.
Helping Companies Build Capabilities
To ensure the “decade of internationalisation” turns into a reality, we
need to equip our Singapore-based companies with all the necessary
skills and know-how to compete effectively in the global business arena.
In this respect, IE Singapore has enhanced its suite of programmes
aimed at strengthening companies’ capabilities in design, branding,
distribution and manpower and intellectual property, among other
areas. For instance, the second Global Brand Forum 2004 in August
evolved into a large event, featuring high-powered thought-leaders:
Rudy Giuliani, former Mayor of New York City; Al Ries, legendary
marketing strategist and best-selling author and Francis Ford Coppola,
one of the most successful and respected cinematic icons in the world.
The Singapore Design Awards once again reinforced our aim to generate
awareness and empower more Singapore-based companies with the
necessary competencies and capabilities.
Connecting Singapore to the World
For the year in review, IE Singapore’s range of services and programmes
benefited at least 30,000 Singapore-based companies looking to
internationalise, of which the majority were small-to-medium businesses.
The outbreak of SARS adversely affected Singapore’s economy at the
end of 2003 and the beginning of 2004. To counter this and boost
business confidence, IE Singapore doubled the number of outbound
business missions and participation at major trade fairs to about
250 per year.
Besides sending missions to developed markets such as European Union,
Japan and the US, we also ventured into less explored markets such as
Brazil, Argentina, Uruguay, Iran, Bahrain, Central Asia and Northeastern
China provinces.
To help Singapore-based companies penetrate markets around the
globe, IE Singapore’s network now spans over 35 locations around the
world: from Beijing to Bangkok, London to Mexico City, and Santiago
to Sydney.
[ CEO’s Message ]
[ CEO’s Message ]
Lee Yi Shyan
Chief Executive Officer
AR_14
To help Singapore tap on multi-lateral agencies-sponsored projects,
IE Singapore organised several missions to various developing markets
in partnership with the United Nations, the World Bank and the Asian
Development Bank.
Partnering for Success
The year in review also saw about 29 Singapore-based companies
forming five new alliances to compete internationally under IE Singapore’s
iPartners Programme. IE Singapore currently supports 14 alliances,
benefitting 78 Singapore-based companies.
Network China, Network India and Network Indonesia continued to do
well in their roles as premier, non-exclusive platforms for business and
networking, with the number of members increasing to 2,500. The
three networks have been instrumental in bringing about business
deals, focusing on their respective markets that our firms have operational
experience with, and great interest in.
To strengthen Singapore as a trade hub, our Global Trader Programme
continues to attract international traders to locate their operations in
Singapore. Our more than 100 global traders generated incremental
total business spending of S$2.2 billion for the year in review. At the
same time, our offshore trading community is growing by leaps
and bounds.
Building Internal Strengths
Within IE Singapore itself, we have also been making several changes
to better serve our clients. We established a Customer Service Centre
(CSC) in October 2003 to improve response time and raise the quality
of our service to walk-in clients. In the following year, the CSC handled
more than 31,000 inbound calls and written enquiries from business
clients. The CSC was duly recognised for its enthusiasm and
professionalism when they received gold medals for the New Call Centre
of the Year (Singapore) in the 4th Annual Call Centre Awards and the
inaugural Regional New Call Centre Champion (Hong Kong, Malaysia
and Singapore). The annual awards, held in November 2004, were
organised by The Call Centre Council of Singapore.
Apart from achieving excellence at work, 2004 was also a busy year
for fitness and sporting activities among our staff. Our work-life balance
programmes and various initiatives also won us two awards in the
month of October: the Outstanding Organisation Award from the
Singapore Sports Council, and the Singapore HEALTH (Helping Employees
Achieve Life-Time Health) Award (Silver). With a strong focus on “healthy
bodies, sharp minds”, active lifestyle has now become a part of
IE Singapore’s corporate culture.
IE Singapore prides itself on having a talented pool of both young and
industry-experienced professionals. Our people live by corporate values
that include passion, expertise, teamwork, customer-centricity and being
result-focused in their daily pursuits. We fully recognise that human
resource is indeed our core competitive advantage. We therefore
dedicated 2004, as well as the coming years ahead, towards building
internal strength by developing and expanding our talent pool. In short,
we want IE Singapore to progress from “Good” to “Great”.
Outside of work, IE Singapore has also been involved in community
work through our adoption of Guillemard Gardens School, Movement
of the Intellectually Disabled of Singapore (MINDS), since the beginning
of 2004. Our staff members have been helping the school to raise funds
and assist in various events and programmes.
Looking Ahead
Moving forward, while 2004 has been a year marked by many
achievements, we are even more excited about the future. IE Singapore’s
accomplishments could not have been possible without our clients’
confidence in us and their partnership. To our staff and stakeholders,
and all who continue to believe in IE Singapore, I extend my sincerest
appreciation. Together, we will build a larger and more vibrant Singapore.
AR_16
[ Board of Directors ]
Chairman Euleen Goh Yiu KiangMs Euleen Goh Yiu Kiang is the Chief Executive Officer ofStandard Chartered Bank, Singapore. She serves on theBoards of various subsidiaries of Standard Chartered PLC,MediaCorp Pte Ltd and Singapore International Chamberof Commerce. She is also Chairperson for the FinancialIndustry Competency Standards Committee. In addition,she is a Council Member of Singapore Institute of Bankingand Finance and an Adviser to the Singapore Institute ofInternational Affairs.
Member Lee Yi ShyanMr Lee Yi Shyan has been the Chief Executive Officer ofInternational Enterprise (IE) Singapore since 23 October2001. Prior to joining IE Singapore, Mr Lee was the DeputyChief Executive Officer of the former PSB (now known asSPRING Singapore) where he headed a multi-agencyenterprise task force to develop companies’ capabilities forinternationalisation. Mr Lee has also served in variouspositions in the Economic Development Board, with postingsto its offices in Washington DC, Chicago and China.
Member Tan Yam PinMr Tan Yam Pin is currently the Chairman (non-executive)of PowerSeraya’s Board of Directors. He has been a Memberof the Public Service Commission of Singapore since 1990and also holds directorship in BHP Steel Limited (Australia),The East Asiatic Company Ltd A/S (Denmark), Great EasternHoldings Limited, Singapore Post Limited and Keppel LandLimited. He was also the Managing Director of the Fraserand Neave Group from 1993 until his retirement in 2002.
Deputy Chairman Sunny VergheseMr Sunny George Verghese is the Group Managing Directorand CEO of Olam International Limited. His otherinvolvements include: Member, Standing Tax AdvisoryCommittee, Member, Action Community forEntrepreneurship (under the Minister for Entrepreneurship),Member, International Business Advisory Council to theDirector General of the WTO; Member, Economic ReviewCommittee, and co-Chairman of Logistics and InternationalTrading Working Group.
Member Lock Wai HanMr Lock Wai Han is an Administrative Service Officer andis currently the Director of the Criminal InvestigationDepartment in the Singapore Police Force. He had previouslyheld the appointments of Head Commercial Crime Division,Director Planning & Organisation Department and morerecently, Commissioner Immigration & Checkpoints Authoritybetween 2003 and 2005.
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[ Board of Directors ]
AR_18
Member Tay Liam WeeMr Tay Liam Wee is the Group Managing Director of SincereWatch Limited. Under his leadership, Sincere now operates31 outlets with a distribution network spanning 10 countries.These include Singapore, Malaysia, Indonesia, Hong Kong,Vietnam, the Philippines, South Korea, Taiwan and China.Mr Tay was also the recipient of the 2004 Singapore Ernst& Young Entrepreneur of the Year award.
Member Richard EuMr Richard Eu is the Group Chief Executive Officer of EuYan Sang International Ltd. He has built up Eu Yan Sang’sbrand over the past decade from a traditional medical hallto a regional consumer healthcare company with operationsin Hong Kong, Singapore, Malaysia, Australia and the US.
Member Wong Ngit LiongMr Wong Ngit Liong is the Chairman and Chief ExecutiveOfficer of Venture Group of companies. Prior to that, hespent more than 12 years with the Hewlett-Packard Company.Mr Wong serves on the Boards of various listed and privatecompanies including DBS Bank Ltd and DBS Group HoldingsLtd, SIA Engineering Company Ltd, and Royal PhilipsElectronics. He is also Chairman of the National Universityof Singapore Board of Trustees.
Member Desmond Kuek Bak ChyeMajor General (MG) Desmond Kuek Bak Chye joined theSingapore Armed Forces (SAF) in December 1981. MG Kuekhas held a number of key appointments in MINDEF and SAFincluding Head of the Defence Studies Department in theMinistry’s Policy Office, Assistant Chief of General Staff(Operations), Command of 3rd Division, Director of the JointIntelligence Directorate and Chief of Staff (General Staff).MG Kuek was appointed Chief of Army on 1 April 2003.
Member Tay Eng HoeMr Tay Eng Hoe is the Founder and Group Chief ExecutiveOfficer of ECS Holdings Limited, a publicly-listed companyon the mainboard of the Singapore Exchange. ECS Groupis one of the largest IT distribution companies in the regionwith operations in China, Malaysia, Thailand, Indonesia andSingapore. Mr Tay is also a Councilor with the SingaporeInfocomm Technology Federation.
Member Tow Heng TanMr Tow Heng Tan is the Senior Managing Director of StrategicDevelopment of Temasek Holdings (Private) Limited. He isalso a Director on the Board of Shangri-La Asia Limited,ComfortDelgro Corporation Limited and Keppel Corporation.
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Excitement • Memorable Launches • New Partners • Exploratory
Missions • Inspiring Events • Thought-provoking Seminars
High-profile Speakers • Lively Forums • Successful Exhibitions
New Deals... these were just some of the many things that
made 2004 such an eventful and fulfilling year for IE Singapore.
Kong Wy Mun, Corporate Planning Group, IE Singapore
March 2004
• As tangible proof that economic co-operation between Singapore
and Vietnam is gaining momentum, four joint projects involving
the two countries are highlighted at the Singapore-Vietnam Business
Forum 2004. The projects are in the areas of education, electronics,
telecommunications and logistics.
• The world's largest trade fair for the IT and communications sector,
CeBIT, in Hannover, Germany, sees 31 Singapore-based companies
heading up for the seven-day show. Twenty-two of these companies
led by IE Singapore come under the umbrella of the Singapore
Pavilion in IT Equipment & Systems, and Telecommunications,
Wireless & Networks, respectively.
• Singapore Acting Minister for Health Khaw Boon Wan and Jiangsu
Vice-Governor Zhang Weiguo are in Wuxi to grace the 10th
anniversary celebration of Wuxi-Singapore Industrial Park.
IE Singapore also inks an MOU with Wuxi Municipal Government on
the setting up of Wuxi Centre in Singapore.
April 2004
• To raise the awareness of design, IE Singapore launched the
‘Design for Internationalisation’ programme in 2003 to help
internationalising Singapore-based companies embrace design in
a holistic manner at the corporate level. Under this initiative,
IE Singapore collaborates with PSB Corporation to put together the
seminar ‘New Economy – Success with Design’ where four design
experts share the latest trends in product design, brand communications
design and design IP issues. Held in conjunction with the Seminar is
the launch of the design case study book ‘Designed for Global
Success’, featuring a spread of 14 companies at various stages of
internationalisation from various industries, in the B2B and B2C arena.
• At the opening ceremony of Food & Hotel Asia 2004, Minister
for Trade and Industry George Yeo, launches ‘Tasty Singapore’,
the brand identity for the Singapore food industry. ‘Tasty Singapore’
is IE Singapore‘s latest branding initiative in collaboration with the
Singapore Food Manufactures’ Association and the Singapore
Manufacturers’ Federation.
Food & Hotel Asia 2004 Singapore-Vietnam Business Forum 2004 Singapore-Vietnam Business Forum 2004
AR_22
[ Significant Events ]
Note: Designations reflectedare according to year in review
• Minister for Education Tharman Shanmugaratnam lead the
IE Singapore-organised business delegation to China’s Liaoning
Province (Shenyang, Fushun and Dalian). The largest delegation in
2004, the 100-member delegation comprises businessmen from
the Singapore Chinese Chamber of Commerce and Industry (SCCCI)
and Singapore-based companies, as well as officials from the
Ministry of Trade and Industry, the Ministry of Education and
IE Singapore.
• IE Singapore opens yet another office in China on 26 April in the
city of Dalian, Liaoning province. The opening is attended by more
than 200 officials and businessmen from Liaoning cities and Singapore.
May 2004
• The China Council for the Promotion of International Trade (CCPIT)
and IE Singapore sign an MOU in Beijing, China. The MOU signifies
the enhanced commitment to foster closer economic and trade
relations between the two trade promotional agencies of China
and Singapore.
• Seventy senior executives from 55 companies visit Malaysia in a
three-day mission that includes Kuala Lumpur and the state of
Terengganu. The delegation is one of the largest from Singapore
to Malaysia in recent years.
• To raise awareness of and assist Singapore-based companies navigate
UN procurement opportunities, IE Singapore, together with
supporting partners CrimsonLogic and Singapore Business
Federation, organise the seminar ‘Navigating the United Nations:
Procurement Opportunities for Singapore Businesses’.
June 2004
• China Council for the Promotion of International Trade (CCPIT)
officially opens its regional office in Singapore. The Singapore office
is CCPIT’s 15th overseas office but the first in the region.
July 2004
• Network China announces the appointment of eight Regional
Representatives, all of whom are leading Singaporean businessmen.
The locations include Shandong Province, Fuzhou City (Fujian
Province), Shenyang City (Liaoning Province), Xi‘an City (Shaanxi
Province), Nantong City, Changzhou City and Nanjing City (Jiangsu
Province), and Chongqing City.
• IE Singapore unveils the book ‘Financing Internationalisation –
Growth Strategies for Successful Companies’ today. The book,
which is supported by the Singapore Management University,
aims to raise awareness of the many financing options available
to Singapore-based companies expanding overseas.
August 2004
• More than 20 Singapore companies participate in a sea-air promotion
mission to Vietnam, Cambodia, and Myanmar. Organised by
IE Singapore and the Civil Aviation Authority of Singapore, the week-
long mission promotes Singapore as a global transhipment hub
and our Singapore companies as ideal business partners with niche
competencies.
• A team of 33 Singapore-based companies heads to Malaysia on a
four-day Automotive Electronics Parts & Components Industry
Cluster Mission, organised by IE Singapore.
• Temasek-linked companies who have expanded into China share
their secrets to success in China in a hardcover book, ‘Singapore
Enterprises in China – 14 success stories on Temasek-linked
companies’. The bilingual (Chinese/ English) publication is jointly
published by IE Singapore, Lianhe Zaobao and Lingzi Media.
AR_23
September 2004
• From food items, wireless game controllers, LCD panels to phones,
this year's Singapore Design Awards (SDA) entries impress with a
total of 268 entries received from across the world. The SDA is a
biennial event organised by Designers Association Singapore with
IE Singapore as its strategic partner.
• A delegation comprising 11 Singapore-based companies take part
in a 14-day Automotive Electronics Parts & Components Industry
Cluster Mission to Germany, Switzerland and the UK. The
mission is organised by IE Singapore, in collaboration with the
SPETA (Singapore Precision Engineering and Tooling Association)
Automotive Chapter, and supported by the Ministry of Economic
Affairs of the State of Brandenburg, Germany.
• Acting Minister for Community Development, Youth and Sports, and
Senior Minister of State for Trade and Industry Dr Vivian Balakrishnan
launches the “Distribution for Internationalisation” programme at
the official opening of the Global Franchising & Licensing 2004
exhibition.
• Mr Hur Nam-Sik, Mayor of Busan Metropolitan City Government,
Mr Chang Soo-Man, Commissioner of Busan-Jihae FEZ Authority
and Chief Executive Officer Lee Yi Shyan of IE Singapore sign an
MOU. The MOU signifies the enhanced commitment to foster
closer economic and trade relations between the three agencies.
• A group of 12 Singapore-based companies in the environmental
services industry visits the United Arab Emirates and Qatar in a
business mission led by IE Singapore.
October 2004
• Fourteen Singapore-based firms travel to Hanoi as part of the
Singapore pavilion at the ASEAN Trade Fair (ATF) 2004, held at the
Vietnam Exhibition and Fair Center.
• A new category, ‘Design for Business Effectiveness’, is
introduced to highlight how design can effectively be applied in
businesses. The new category receives an encouraging 22 entries.
SDA 2004 Award Exhibition SDA 2004 Award Ceremony
AR_24
[ Significant Events ]
• IE Singapore launches the ‘Design Online Toolkit’ at the SDA 2004
Award Ceremony. The ‘Design Online Toolkit’ is a web-based
diagnostic application. IE Singapore developed this project together
with PSB Corporation as its contributing partner.
• The Network India Real Estate and Finance Sub-Committee is
officially launched at a conference sharing the latest trends and
updates on India’s infrastructure and finance sectors.
November 2004
• Twenty companies led by IE Singapore visit the Philippines on a
five-day mission to the main commercial cities of Cebu and Manila.
In addition to the retail and food & beverage sectors, Singapore
players from the Info-Communications Technology (ICT) sector are
also represented in the delegation.
• IE Singapore and representatives from nine companies leave for a
week-long business mission to Chongqing Municipality and Chengdu
(capital of Sichuan Province), the first of its kind to western China,
for the local transport and logistics industry.
• A group of Singapore-based companies embark on a mission to
the Latin American countries of Chile, Argentina and Brazil to
explore business opportunities. The mission comes ahead of
Singapore’s upcoming Free Trade Agreements (FTAs) with Panama
and Chile.
December 2004
• Network China celebrates its third anniversary with a sharing session
by leading businessmen from China, Mr Zhang Yue, President and
CEO of Broad Air Conditioning and Mr Mao Fangguo, President
of Qingdao Dragon Group under Network China‘s ‘Distinguished
Entrepreneurs Series’.
• Network Indonesia celebrates its first anniversary with over 200
participants turning up for a seminar on ‘Indonesia: The Road
Ahead’, which is designed to throw light on what investors can
expect from doing business in Indonesia going forth.
Network India – TiE Network China 3rd Anniversary Celebrations cum Distinguished Entrepreneurs Series.
AR_25
• This year‘s Singapore Brand Award (SBA) reveals the 15 Most
Valuable Brands, estimated to be worth S$8.1 billion compared to
S$7.9 billion in 2003. The SBA is an initiative by IE Singapore in
partnership with Interbrand.
January 2005
• A week after it made a call to members and the business community
for donations to aid in Indonesia’s humanitarian relief, Network
Indonesia raised close to S$1 million from over 20 Singapore
companies. The donations comprised over S$360,000 in cash
and S$500,000 in kind.
• Singapore plays host to visiting senior customs officials from
Azerbaijan, Kazakhstan, Kyrgyz Republic, Mongolia, the People‘s
Republic of China, Tajikistan, Turkmenistan and Uzbekistan over
three days at the forum ‘Trade Facilitation and Customs
Modernisation’. The forum is co-sponsored by the Asian
Development Bank and IE Singapore.
February 2005
• IE Singapore‘s flagship International Enterprise Forum (IEF) 05 kicks
off with over 700 delegates of senior management level from a
diverse range of industries having signed up for the two-day forum.
A total of 30 leading local and foreign speakers share their insights
on international growth strategies and market opportunities at the
forum. A special highlight of IEF05 is the announcement of the
inaugural Singapore International 100 Ranking at IEF05 Gala
Dinner. Senior Minister Goh Chok Tong, the Guest-of-Honour for
the IEF05 Gala Dinner, presents the certificates of achievement to
the Top 20 companies.
• Three new alliances under IE Singapore‘s International Partners
(iPartners) Programme are announced at IEF05, bringing the total
number of alliances supported by IE Singapore to eight. The three
new alliances are the ‘Partnership in Reaching Out for Overseas
On-Train Communications’, led by CET Technologies; the ‘Singapore
E-Logistics Consortium’, led by IPACS e-Solutions; and the
‘SingaporeFoodCourtAlliance’, led by Food Junction.
Singapore Brand Award (SBA) International Enterprise Forum 05
AR_26
[ Significant Events ]
• At the IEF05 Gala Dinner, Senior Minister Goh Chok Tong announces
the BrandPact programme, a multi-agency initiative to better meet
the varied brand needs of our local enterprises as they grow and
expand within Singapore and into the global marketplace.
• World Bank announces Singapore as the Asian Hub of its Private
Sector Liaison Officer (PSLO). As part of the World Bank Group’s
(WBG) PSLO Network, IE Singapore can now help Singapore
companies gain access to WBG‘s resources and more effectively
leverage on WBG's business opportunities in developing countries.
• Singapore hosts the 18th Asian Trade Promotion Forum (ATPF) over
two days with 53 delegates from 18 Asia Pacific economies discussing
the theme ‘Enlarging Trade, Integrating Markets.’
March 2005
• A delegation of 27 representatives from 15 international banks
across seven countries (Bangladesh, Brunei, India, Indonesia,
Sri Lanka, Taiwan and Thailand) get a taste of the capabilities that
have established Singapore as the region‘s financial services.
International Enterprise Forum 05 Asian Trade Promotion Forum (ATPF)
AR_27
Singapore’s external trade was exceptionally strong in 2004,
registering a 22.5 per cent expansion, a significant improvement
from the 9.6 per cent growth...
Prantik Mazumdar, International Trading Group, IE Singapore
Singapore’s Merchandise Trade
Singapore’s external trade was exceptionally strong in 2004, registering
a 23 per cent expansion, a significant improvement from the 9.6 per
cent growth in 2003. The level of total trade reached S$580 billion in
2004, with major trade components posting stronger growth in the
same year. This stellar performance came on the back of improving
global economic conditions, with higher growth economies in the US,
EU and Japan, and global semiconductor demand reaching one of the
highest levels since the last peak in year 2000. Global business confidence
also strengthened in 2004 compared to the previous year, with
governments in key Asian economies pumping up spending in their
respective domestic economies.
Performance in 1H 2005 (January to June 2005)
Singapore’s total external trade rose by 11 per cent in the first half of
2005, easing from the 23 per cent growth rate registered in 2004. The
level of total trade reached S$305 billion over the first half of the year.
Growth in Singapore’s total trade was bolstered by oil trade which
continued to post strong double-digit growth due to high oil prices.
Oil trade recorded a strong 40 per cent increase while non-oil trade
came in at a slower but still healthy 6.5 per cent.
AR_30
[ The Year in Review ]
Singapore’s Total Trade Performance for
January to June 2005
Growth Rate %
1Q 2005 2Q 2005 First Half(Jan-Jun)
Non-Oil Domestic Exports 6.8 0.3 3.5
Non-Oil Re-Exports 10.3 10.4 10.3
Non-Oil Imports 6.3 5.9 6.1
Oil Domestic Exports 31.1 51.6 42.2
Non-Oil Trade 7.5 5.6 6.5
Total Trade 11.3 10.4 10.8
Trade Performance (S$ billion)
1Q 2005 2Q 2005 First Half(Jan-Jun)
Non-Oil Domestic Exports 32.7 32.7 65.4
Non-Oil Re-Exports 32.9 36.5 69.4
Non-Oil Imports 57.4 62.6 120.1
Oil Domestic Exports 9.2 12.5 21.7
Non-Oil Trade 123.1 131.8 254.9
Total Trade 145.9 158.7 304.6
Total Trade
Exports
Imports
Domestic Exports
Non-oil DomesticExports
Non-oil Re-Exports
Value in S$ billion
1000 200 600500400300
Group / Region / Country: WorldProducts: All Products 2004
2003
External Trade (All Trade Types)
Singapore’s Top 10 Trading Partners
Malaysia continued to remain Singapore’s top trading partner in 2004,
followed by the US in second place. China overtook Japan in 2004 to
become our third largest trading partner, with Japan coming in at fourth
and Hong Kong in fifth position.
Trade with Emerging Markets
Total trade with emerging markets expanded by 29.2 per cent in
2004, stronger than the previous year’s expansion of 11.8 per cent.
This exceptional performance was contributed by the healthy gains
reported in total trade with the Middle East, South Asia, Indochina
and South America.
AR_31
Malaysia
United States
China, People’sRepublic of
Japan
Hong Kong, China
Taiwan
Thailand
Republic of Korea
Germany, FederalRepublic of
United Kingdom
Value in S$ billion
0 10 20 30 40 50 60 70 80 90
Product: All ProductsRanking by Countries: Top 10 Countries 2004
2003
Total Trade Total Trade with Emerging Markets
Value in S$ billion
0 5 10 15 20 25 30 35
Group / Region / Country: World 2004
2003
South America
North Africa
Central Asia
South Africa
Eastern Europe
Indo China
Middle East
South Asia
Singapore’s Domestic Exports
Total domestic exports posted a robust performance of 19.9 per cent
growth for the year in review. This expansion was mainly supported by
the healthy showings in both the domestic exports of electronic and
non-electronic products. In particular, domestic exports of non-electronic
products expanded by 19.6 per cent, contributed by pharmaceuticals,
petrochemicals and primary chemicals, which grew by 13.8 per cent,
36.7 per cent and 26.6 per cent respectively. Domestic exports of
electronic products posted a positive 14.7 per cent expansion, marking
the second year of consecutive growth since 2002. Stronger demand
for integrated circuits (ICs) and parts and telecommunications equipment
helped pull growth into positive territory, offsetting the weakness in
shipments of disk drives and printers.
Singapore’s Re-Exports
Singapore’s total re-exports expanded by a robust 22.1 per cent in
2004, picking up from the 7.4 per cent increase in 2003. Both electronic
and non-electronic products recorded robust growth. In particular,
re-exports of machinery and transport equipment, the largest component,
grew 24.2 per cent, contributed largely by electronic re-exports which
rose 26.8 per cent in 2004. Re-exports of ICs, parts of PCs,
telecommunications equipment, and disk drives had driven the
growth in electronic re-exports. Strong demand for electrical circuit
apparatus, civil engineering equipments and electrical machinery
contributed to overall gains in the re-export of non-electronic goods,
posting a 14.8 per cent growth.
AR_32
[ The Year in Review ]
Re-Exports
Machinery &Equipment
MiscellaneousManufactures
Chemicals &Chemical Products
ManufacturedGoods
Mineral Fuels
Miscellaneous
Beverages &Tobacco
Food
Crude Materials
Animal &Vegetable Oils
Value in S$ billion
100 20 1101009080
Group / Region / Country: WorldTop 10 Products Group 2004
2003
Machinery &TransportsEquipment
Mineral Fuels
Chemicals &Chemical Products
MiscellaneousManufactures
ManufacturedGoods
Food
Miscellaneous
Crude Materials
Animal &Vegetable Oils
Beverages &Tobacco
Value in S$ billion
0 10 20 30 40 70 80 90
Group / Region / Country: WorldTop 10 Products Group 2004
2003
Domestic Exports
AR_34
For International Operations, our focus on industry sectors with
good growth prospects has generated a strong flow of deals
that Singapore-based companies can take advantage of. This
strategic approach has also enabled our officers overseas to
deepen their knowledge of how businesses work in their respective
markets. Ultimately, we want to be able to continuously offer
real value to our customers.Alphonsus Chia, Deputy Chief Executive Officer, IE Singapore
“
”
(from left to right): Alphonsus Chia, Deputy Chief Executive Officer, Winston Ho, Assitant Director, North Asia and Pacific, Tham Poh Cheong, Director, China Strategic Relations,Lim Ban Hoe, Director, South Asia, Middle East and Africa, Balagopal Nair, Director, Americas and Yew Sung Pei, Director, Southeast Asia
IE SingaporeInternational
Operations Group
AR_36
Singapore and China Forge Closer Economic Ties
Economic ties between Singapore and China continued to soar in 2004,
knocking off past year’s figures to reach new heights. Bilateral trade
for the year in review hit S$53.3 billion, a healthy increase of 44.5 per
cent compared to 2003, with strong growth fuelled by increases in
Singapore’s exports to and imports from China.
Exports surged 47.2 per cent, valued at S$25.97 billion, while imports
from China registered a high growth of 41.9 per cent with a value of
S$27.36 billion. China accounted for 9.2 per cent of Singapore‘s total
trade in 2004 compared to 7.8 per cent in 2003, making it Singapore’s
fourth largest trading partner after Malaysia, the EU and the US. Meanwhile,
Singapore was China’s seventh largest trading partner for the year in review.
Singapore investments in China also climbed higher for 2004. Singapore-
based companies invested in 1,279 projects with a contractual investment
value of US$4.42 billion, an increase of 29.4 per cent over 2003 and
making Singapore China’s eighth largest investor for 2004.
IE Singapore worked closely with Singapore Exchange (SGX) in our move
to attract more foreign listings, particularly from China. This has resulted
in Singapore becoming an important capital market for Chinese companies,
with 33 Chinese companies successfully listing on the SGX in 2004.
IE Singapore organised and supported 45 business missions to China
in 2004. These included missions to Zhejiang, Liaoning, Sichuan, Jilin,
Heilongjiang, Shandong and Shaanxi. To tap the vast business
opportunities in Northeast China, IE Singapore opened an office in
Dalian city of Liaoning province, which coincided with Minister Tharman
Shanmugaratnam’s visit to the province in April.
We opened a liaison office in Xi‘an of Shaanxi province in July 2005,
bringing our presence in China to a total of nine locations, including
Beijing, Chengdu, Chongqing, Dalian, Guangzhou, Qingdao, Shanghai,
and Hong Kong SAR.
In a move to foster closer economic and trade relations between the
two trade promotion agencies, IE Singapore and China Council for the
Promotion of International Trade (CCPIT) signed a Memorandum of
Understanding (MOU) in May 2004. With the MOU, Singapore-based
companies will find it easier to extend their reach into the vast Chinese
market. At the same time, Chinese companies will also be able to tap
opportunities in the ASEAN markets through Singapore. Following the
signing of the MOU, the CCPIT set up its Regional Office in Singapore
for the ASEAN region in June 2004.
IE Singapore, Lianhe Zaobao and Lingzi Media successfully published
and launched ‘Singapore Enterprises in China – 14 success stories on
Temasek-linked companies’, a Chinese-English compilation of success
stories of Temasek-linked companies (TLCs) in China. The TLCs, which
make up about 10 per cent of Singapore’s total investment in China,
were among the earliest to invest in the country. This is the second time
that IE Singapore, Lianhe Zaobao and Lingzi Media have come together
to publish a book of success stories on Singapore – based companies
in China. In May 2003, we successfully launched a Chinese publication
titled ‘Singapore Enterprises in China – a collection of 40 success stories’.
[ Operational Review – China ]
In November 2004, led by Minister for Trade and Industry (MTI) Lim Hng
Kiang, over 140 Singaporean officials and company representatives
attended the inaugural China-ASEAN Expo (CAEXPO) in Nanning, Guangxi
province. IE Singapore coordinated and organised the 500 sqm National
Pavilion at the Expo together with six other Singapore Government
agencies and 15 Singapore-based companies and associations.
The year in review also turned out to be another exciting one for the
1,300 member-strong Network China. It organised a Gala Dinner to
celebrate its third anniversary, which included the Second Session of
the ‘Distinguished Entrepreneur Series’. Zhang Yue, co-founder and
Chief Executive Officer of Broad Airconditioning, and Mr Mao Fang
Guo, Chairman of Qingdao Yulong Group, shared with members of
Network China their business philosophies and the intricacies of
penetrating the Chinese market. In 2004, Network China organised
and supported more than 130 seminars, missions and networking events
that drew a combined attendance of over 17,000 participants.
Network China appointed eight leading Singaporean businessmen as
Regional Representatives of Nantong, Nanjing, Changzhou, Chongqing,
Fuzhou, Xi‘an, Shenyang and Shandong. Through in-depth knowledge
of their respective cities, they will help facilitate the entry of Singapore-
based businessmen into the growing Chinese market.
AR_37
CHONGQINGLu Xiaozhong(not pictured)
Honorary Business Advisor
CHENGDUPeter LeeRegional Director
(Western China)
Lim King Siong (not pictured)
Centre Director
DALIANKoh Chun PengCentre Director
GUANGZHOUNee Pai CheeRegional Director (Southern China)
GUANGZHOU &HONG KONGWong Peng YeongCentre Director
QINGDAOSoh Swee PingCentre Director
SHANGHAIZhong Sheng Jian(not pictured)
Honorary Business Advisor
Ignatius LimRegional Director
(Eastern China)
Consul (Commercial)
Wan Sze MeiCentre Director
Consul (Commercial)
Ho Chee Hin (not pictured)
Centre Director
Consul (Commercial)
Left to Right
BEIJINGChen Baoliu (not pictured)
Honorary Business Advisor
Kathleen HongRegional Director (Northern China)
Counsellor (Commercial)
Law Chung MingCentre Director
First Secretary (Commercial)
Gina KekCentre Director
First Secretary (Commercial)
XI’AN
BEIJING DALIAN
QINGDAO
SHANGHAI
HONG KONG
CHONGQING
GUANGZHOU
CHENGDU
Continued on page 40
[ Partner for Success ]
By providing stable platforms for G-to-G collaboration such
as the four Singapore-China Business Councils, Network China,
India Advisory Panel and Network India, IE Singapore has opened
doors to influential officials and business leaders who have
led foreign companies to list on SGX. IE Singapore’s country
specialists, in particular, have been instrumental in connecting
SGX with suitable companies who seek to list on an international
stock exchange to raise both their business stature and capital
for expansion.David Tan, Senior Vice President, Head of Listings, Markets Group, Singapore Exchange Limited
As Asia-Pacific’s first demutualised and integrated securities and derivatives
exchange, Singapore Exchange Limited (SGX) is in the business of offering
a comprehensive and efficient infrastructure for raising capital, and for
customers to transact and clear financial products. It also aims to be
market-driven and provide customers with convenient access, quality
products and the best price discovery. Through strategic alliances and
linkages with other exchanges, SGX is positioned as the Asian gateway.
AR_38
“
”
David Tan, Senior Vice President, Head of Listings, Markets Group, Singapore Exchange Limited and Ho Wenyiing, Account Manager, Corporate Group, IE SingaporeSingapore ExchangeLimited
AR_40
Singapore‘s bilateral relations with the South Asian countries deepened
significantly in 2004. In terms of total trade, India has overtaken China
as Singapore’s fastest growing trading partner.
India, Land of Business Opportunities
Total trade with India reached a record S$11.8 billion in 2004, increasing
by 48.9 per cent from S$7.9 billion the year before.
Thirteen missions visited India in 2004 to explore business opportunities,
with one mission comprising a delegation led by the Singapore Chinese
Chamber of Commerce and Industry (SCCCI) to visit Mumbai and
Kolkata. In addition, industry-focussed missions made up of companies
in clusters such as infrastructure services, logistics, education services,
and healthcare visited various cities in India. IE Singapore also organised
business networking meetings for visiting businessmen from the state
of Gujarat and from Bangladesh. We also visited Pakistan on a business
mission and Sri Lanka for an infrastructure mission.
To expose senior decision makers from the private and public sectors to
the intricacies of the Indian market and to cultivate a network with the
Indian Government officials, professionals and businessmen, IE Singapore
commissioned the Tata Management Training Centre (TMTC) based in
Pune to run two Executive Programmes in India. TMTC is one of the
premier management institutions with national and international links.
Established in 2002, Network India saw its membership increase to more
than 500 member companies. A platform for Singapore-based businesses
to tap opportunities in the Indian market, the Network organised and
supported about 45 business seminars and events. One of the significant
events organised was the seminar on business opportunities in India’s
real estate and financial sectors. It commemorated the launch of the Real
Estate and Finance Sub-Committee under Network India and was held
during Global Entrepolis@Singapore. Network India also collaborated
with the Japanese Chamber of Commerce and Industry, Singapore and
Japan External Trade Organisation to organise a seminar for Japanese
MNCs based in Singapore on doing business in India.
An India Advisory Panel, comprising key figures in Indian industries,
was also established to further boost connections and tap the rapidly
expanding bilateral economic relations between Singapore and India.
The panel’s role is to advise IE Singapore on how India and Singapore
companies can deepen bilateral economic relations.
Untapped Middle East
An important trading partner outside our immediate economic
neighbourhood in Asia and traditional markets like the US and the
European Union, the Middle East ranked as Singapore’s sixth largest
trading partner in 2004. Overall trade has doubled since a decade ago
to S$25.4 billion in 2003. Total volume of trade with the Middle East
continued to increase in 2004, reaching S$33.6 billion for the period
ending in December.
[ Operational Review – South Asia and Middle East ]
In 2004, IE Singapore led seven sector-focused business missions to the
Middle East. These sectors covered oil and gas supporting infrastructure,
construction and real estate services, environmental and water resources,
financial services infrastructure, transport and logistics and retail services.
So far, we have brought our companies to Iran, United Arab Emirates
(UAE), Qatar, Bahrain and Kuwait.
Venturing into the Middle East requires in-depth market knowledge
and keen insights into the existing business opportunities. In order to
help our companies learn more about business opportunities in the
Middle East, IE Singapore organised a full-day ‘Middle East Business
Opportunities Conference’ on 6 July 2004.
Recognising the growing interest of Singapore-based companies in the
Middle East, IE Singapore’s overseas office in Dubai has stepped up
efforts to help our companies identify and take advantage of potential
trade and investment opportunities in the UAE. In addition, IE Singapore‘s
subsidiary, Global Business Insights, has recently established a Business
Support Office (BSO) in Dubai to provide quick start-up facilities for
Singapore-based companies needing to conduct in-depth market
research and explore concrete business opportunities in the UAE and
its neighbouring Gulf countries.
AR_41
CHENNAIN Kumar (not pictured)
Honorary Business Representative
Ramakrishna Kukkila (not pictured)
Centre Director
MUMBAIVaishnav Shorilal Puri (not pictured)
Honorary Business Representative
Yap Shih ChiaCentre Director
Vice-Consul (Commercial)
NEW DELHIAlan TanCentre Director
First Secretary (Commercial)
Left to Right
COLOMBOBodhiratne WanniarachchiCentre Director
DUBAIRaheed NargundArea Director
Consul (Commercial)
Keith KohCentre Director
Vice-Consul (Commercial)
CHENNAI
COLOMBO
NEW DELHI
MUMBAI
DUBAI
AR_42
With a market of 560 million people, vast areas rich in natural resources,
skilled labour and strong industrial bases, Southeast Asia has proven
to be a strategic location for production, distribution and sales. For the
year in review, IE Singapore stepped up its continuing efforts to further
engage this region of rising economic and geo-political influence.
Indonesia Beckons with Business Potential
Indonesia’s economy continued its recovery from the Asian financial crisis
to record a 5.13 per cent growth in GDP in 2004. The figure exceeded
the initial target of 4.8 per cent set by the Indonesian Government and
the growth of 4.1 per cent in 2003. The impressive growth was achieved
against the backdrop of a series of national elections held in 2004. The
government has set 5.5 per cent as the target rate of economic growth
for 2005 and 6 per cent average growth for the next five years.
Singapore continued to remain one of Indonesia’s top sources of Foreign
Direct Investment (FDI). In 2004, 153 Singaporean FDI projects worth
US$577.7 million were approved by the Indonesian Investment
Coordinating Board. And for the first quarter, 51 Singaporean FDI
projects worth US$405.8 million were already approved, placing
Singapore as the third largest source of FDI approved for the same
period, behind the UK and Canada.
In line with the improved outlook, IE Singapore has received increased
interest in the Indonesian market from the Singapore business community.
Even before the presidential elections in September 2004, IE Singapore
organised two sector-specific missions to Indonesia targeting the
automotive and retail sectors. In all, over 50 participants from more
than 30 companies participated in the missions. The missions gave the
delegates an excellent opportunity to survey the Indonesian market,
and prepare and position themselves early for market entry in anticipation
of the re-emergence of the Indonesian economy.
Recognising the importance of infrastructure development, the Indonesian
Government, together with the Indonesian Chamber of Commerce,
organised an Infrastructure Summit in January 2005. IE Singapore
worked with Network Indonesia to organise a mission to attend the
Summit, which was followed by meetings with key associations and
government agencies related to the infrastructure sector. A follow-up
mission was organised in February 2005 for the Singapore Airport
Consortium to learn more about the potential in investing in and
participating in airport projects in Indonesia.
At the firm level, IE Singapore continued to provide customised and
focused assistance. With IE Singapore’s assistance, Singapore Computer
Systems (SCS) came to know about PT Astra Graphia’s interest in looking
for a joint-venture partner for the IT arm it intended to spin off.
Network Indonesia, a business networking platform launched in May
2003, with secretariat support provided by IE Singapore, continued to
be at the core of our engagement with Indonesia.
Looking ahead, IE Singapore plans to intensify its efforts in engaging
Indonesia and carry out more activities for Singapore-based companies
to tap the growth opportunities there.
[ Operational Review – Southeast Asia ]
AR_43
KUALA LUMPURMaler VileeCentre Director
First Secretary (Commercial)
MANILAJason LeongCentre Director
Second Secretary (Commercial)
PEKANBARUFlorence LohCentre Director
Vice-Consul (Commercial)
Left to Right
BANGKOKLena NgCentre Director
First Secretary (Commercial)
HO CHI MINH CITYLeslie ChongCentre Director
Consul (Commercial)
JAKARTALim Wei SiongCentre Director
First Secretary (Commercial)
YANGONSerge Pun (not pictured)
Honorary Business Representative
Vietnam, Growing Fast in Asia
Vietnam’s GDP grew 7.7 per cent in 2004, an increase from the 7.2 per
cent recorded the year before. This places the country as one of the
fastest growing in Asia, outside China. In terms of Singapore’s economic
relation with Vietnam, we remain the country’s largest investor in registered
capital, with a cumulative approved investment of US$8 billion in 338
projects as at end 2004. In the area of trade, Singapore was Vietnam’s
top five trading partners with bilateral trade amounting to S$7.7 billion
in the year in review. This is an increase of more than two times the
amount achieved just five years ago.
Going forward, Singapore’s economic relation with Vietnam is likely to
scale new heights as both countries collaborate in the ’Vietnam-
Singapore Economic Connectivity’ initiative. Mooted by then Prime
Minister Goh Chok Tong, the Connectivity initiative is a proposal for
connecting production, trade investment and consumption between
both Singapore and Vietnam by capitalising on the comparative
advantages of both countries. The proposal gained impetus in the
second half of 2004, following visits by Vietnam DPM Nguyen Tan Dung
to Singapore in July and Prime Minister Lee Hsien Loong’s introductory
visit to Vietnam in December. Both countries took the opportunity to
spell out six focus sectors of co-operation in investment, trade and
services, transportation, infocomm technology and telecommunications,
finance, and education and training.
BANGKOK
HO CHI MINH CITY
MANILA
YANGON
KUALA LUMPUR
PEKANBARU
JAKARTA
SINGAPORE (HQ)
AR_44
In August 2004, IE Singapore, with Keppel Corp and Temasek Holdings
co-organised a high-level ’Investing in Vietnam‘ conference in Hanoi.
Graced by VIPs from both Vietnam and Singapore, the conference
attracted strong interest from more than 500 participants in the region,
including some 200 companies from Singapore.
Keppel Land was able to receive its investment license for the application
of the Villa Riviera development project in Ho Chi Minh City (HCMC)
during the conference. Similarly, Sembcorp Parks Management was
granted its investment license for the third development phase of its
Vietnam Singapore Industrial Park project. Altogether, the investment
value of both projects is estimated at US$79 million.
In conjunction with the conference, IE Singapore led a business mission
to Vietnam to assist Singapore-based companies identify potential
business opportunities in the country. The mission was well attended
by some 62 business delegates in the four key industries of healthcare,
logistics, real estate and food and beverage.
Another first was scored in IE Singapore’s efforts to enhance economic
relations between both countries with the opening of the Vietnam
House in Singapore in March 2005. The Vietnam House in Singapore
is the first overseas office of the Investment Trade and Promotion Centre
of HCMC after two years of close collaboration with IE Singapore. The
opening of the centre will encourage more Vietnamese enterprises to
export and expand internationally through Singapore. Furthermore,
it will also act as an excellent information source for Singapore-based
companies wishing to expand into Vietnam.
Malaysia Continues to Attract
Singapore was the second largest source of foreign investments in
Malaysia’s industrial sector in 2004, with a value worth RM1.5 billion.
In 2004, IE Singapore led a number of missions to Malaysia, including
one with the Singapore Business Federation for the first joint mission
to Kuala Lumpur and Terengganu in May 2004. The delegation was
one of the largest in recent years from Singapore to Malaysia comprising
70 senior executives from 55 companies. Business opportunities ranging
from electronics, Info Communications Technology (ICT) and healthcare
were identified during the mission. Active facilitation at the company
level by IE Singapore has led to a number of Singapore-based companies
successfully setting up operations in Malaysia. They include KHL Printing,
Bakerzin, Apex-Pal (Sakae Sushi) and Fish & Co.
Singapore’s former Minister for Trade and Industry, George Yeo, and
Malaysian Minister for International Trade and Industry, Dato’ Seri
Rafidah Aziz, signed the agreement for the Malaysia-Singapore Third
Country Business Development Fund (MSBF) on 2 July 2004. The MSBF
replaces and expands the scope of the former Malaysia-Singapore Third
Country Investment Feasibility Study Fund to include joint missions to
identify projects in third countries.
The Malaysia Singapore Business Council (MSBC) was formed in July
2004 to forge even closer economic ties between Singapore and Malaysia.
The MSBC has successfully acted as a conduit for the private sector to
put forth suggestions for increasing bilateral commercial relations.
Growing Interest in the Philippines Market
IE Singapore, together with the Philippines-Singapore Business Council
(PSBC), organised a series of missions and seminars to raise market
awareness on the Philippines among Singapore-based businesses.
The ’Post Elections Philippines‘ seminar, held in Singapore in July 2005,
is one example of a highly successful event attended by over 100
participants. Esteemed speakers included His Excellency, Cesar Purisima,
Secretary for Trade and Industry, Mr Roberto de Ocampo, President of
Asian Institute of Management and Mr Guillermo D. Luchangco,
Co-Chairman of the PSBC.
The five day multi-sectorial mission to Cebu and Metro Manila held in
November 2004 saw the largest business delegation to the country
since 1999, with a total of 23 participants from 18 companies. This
mission coincided with the 9th PSBC Executive Committee meeting.
The PSBC also organised a business opportunity seminar for the business
[ Operational Review – Southeast Asia ]
delegates in Cebu. Two Memorandum of Understanding (MOU) were
signed at the conference. One was between homegrown logistics
company YCH Group and United Terminal Services Group to collaborate
on new projects. The other was between CrimsonLogic and Cebu
Educational Development Foundation for Information Technology (CEDF-
IT), Asia Town IT Park and the Center for Industrial Technology and
Enterprise (CITE) to jointly set up an e-Learning Competency Center in
Cebu. CrimsonLogic was introduced to CEDF-IT during a mission
organised by IE Singapore to Cebu in February 2004, and the successful
business matching culminated in the establishment of the Center.
Other Singapore-based companies that have established a presence in
the Philippines include Sembcorp Logistics and homegrown bakery chain,
BreadTalk, which opened its first outlet in Makati City in June 2004.
Wide-ranging Potential in Thailand
Thailand remains one of Singapore-based businesses’ key investment
locations in Southeast Asia. According to data from the Board of
Investment (BOI), Singapore was ranked fourth in 2004 with 74 projects
worth US$453.5 million approved for promotion by BOI. Singapore-
based companies have a good presence in a wide array of business
sectors in Thailand, with bulk of the investment in manufacturing sectors
such as automotive parts and precision engineering, and electrical and
electronics parts. Increasingly, with a booming Thai economy, there are
also substantial interests in services industries such as transport and
logistics, communications and IT and lifestyle services.
Interest in Thailand among Singaporean businesses is reflected in the
enthusiastic participation by local companies in seminars and missions
organised by IE Singapore. In April 2004, the investment conference
on Thailand with DBS and BOI attracted close to 500 participants. As
a follow-up, a joint IE Singapore-DBS business mission saw overwhelming
response with 80 delegates interested in seeking new opportunities in
the Thailand market. The mission was targeted at the education, logistics
and distribution, electronics and info-communications, retailing and
franchising, and tourism and hospitality sectors. Active assistance at
the company level by IE Singapore has led Singapore-based companies
such as Armstrong, Innovalues, Genovate Solutions and YCH to
successfully set up operations in Thailand.
AR_45
AR_46
Over the years, Singapore has been building vital economic links with the
region. Efforts have paid off and now Singapore-based businesses can
be found in countries such as Japan, Korea, Australia and New Zealand.
Breaking into the Japanese Market
Japan as a market has always presented various challenges for Singapore-
based businesses looking to venture into the country. However, the year
2004 proved to be a positive one in terms of such ambitions. A number
of Singapore-based companies found their way into the Japanese market
to seek profitable gains, helped by IE Singapore.
IE Singapore made a concerted effort to identify several key sectors
and aligned our promotional activities to take advantage of potential
opportunities.
Reverse missions and sourcing events such as Global-Asia Trade Exchange
2004 (GATE04) also helped at pre-qualifying the needs of Japanese
MNC buyers. Such buying forums proved to be eye-openers for
Singapore-based suppliers.
Japan External Trade Organization (JETRO) has also been a key partner
in IE Singapore‘s efforts to assist companies in their internationalisation
path into the Japanese market. We supported several Singapore-based
companies in their applications for the JETRO ’Invest In Japan Study
Program‘ in 2004. Among the submissions, Ya Kun Kaya Toast and
Tung Lok Restaurants (2000) Ltd. were selected for the food service
programme while NCS and Stratech made it into the IT programme.
Style Asia 2004, held in Tokyo from 16 to18 December 2004, attracted
much interest from Singapore-based businesses as well. IE Singapore,
together with the Textile and Fashion Federation Singapore, led 23
companies to the event.
Four Singapore-based companies also made their way to the Tokyo
International Gift Show, held from 7 to 10 September in the same year.
The event was an excellent platform for participating companies to
profile their products to the challenging Japanese consumer market.
Meanwhile in Singapore, about 18 Japanese companies are under the
Global Trader Programme. In promoting Singapore as an international
procurement hub, IE Singapore launched in July another initiative known
as Global-Asia Trade Exchange 2004, also branded as GATE04. Denso
International, Sony Corporation, Canon Inc. and Matsushita were just
some of the many companies that attended the event.
Tasting Australia
Five Singapore-based companies participated in an IE Singapore-led
food and beverage mission to Melbourne and Sydney between 22 to
28 August 2004. They gained valuable insights into key retailers‘
expansion plans and the impact that would have on our companies‘
entry strategies. The mission also helped open up access to key food
retailers and food services players that control about 80 per cent of the
total sales of packaged food in Australia.
[ Operational Review – North Asia and Pacific ]
AR_47
Left to Right
TOKYOTetsuro Kawakami(not pictured)
Honorary Business Representative
Chung Tze KhinCentre Director
First Secretary (Commercial)
TAIPEIJoyce HsuCentre Secretary
SEOULChristopher ChenCentre Director
First Secretary (Commercial)
Korean Appeal
The Korean economy has been recovering at a rapid pace since the days
of the Asian financial crisis. To enable more Singapore-based companies
to ride on Korea’s growth, IE Singapore has been working closely with
various Korean partners to seek out potential opportunities the market
has to offer.
In May 2004 and February 2005, the Korea Small Business Corporation
(SBC) attached two of their industry coordinators to IE Singapore. The
programme’s primary role was to introduce products and services offered
by Singapore-based companies. Since then IE Singapore and SBC have
linked a number of Singapore-based companies to potential partners.
To further raise awareness among Singapore-based companies to
opportunities in Busan, IE Singapore signed a Memorandum of
Understanding (MOU) with Busan Metropolitan City Government and
Busan-Jihae Free Economic Zone (FEZ) Authority on 20 September 2004.
The areas marked out for co-operation include investment missions to
Busan, introducing business and projects available, and providing
information and assistance to Singapore-based firms planning to set up
operations in that area.
Building Ties with New Zealand
IE Singapore and the New Zealand Trade and Enterprise signed an MOU
in July 2004 to jointly promote strategic alliances between companies
of the two countries. The MOU aims to help companies expand their
operations beyond their respective countries and build market knowledge,
SYDNEYPeter MacKinlayHonorary Business RepresentativeSEOUL
SYDNEY
TOKYO
TAIPEI
AR_48
The US Draw
IE Singapore continued to strengthen our engagement with various US
companies since the conclusion of the US-Singapore Free Trade Agreement.
In the year of review, our US operations stepped up marketing and
promotion efforts targeted at automotive parts manufacturing, medical
devices manufacturing, food and beverage, fashion, Infocomm
technologies, transport and logistics and printing industries. The efforts
resulted in various reverse missions and Requests for Quotations from
US-based companies – including Schick Technologies, Edwards Lifesciences,
Cherry Automotive, Siemens Medical Solutions (USA), Harvard Business
School Publishing, and CXO Media Inc – to give Singapore-based companies
potential contract opportunities worth over S$2 million.
At the same time, IE Singapore‘s US operations also moved towards
providing specific one-to-one assistance to our priority customers.
Singapore-based companies including Texline Associates, Singapore
Food Industries, Singapore Computer Systems, Ascendas and Greenearth
benefited from this initiative. We worked closely with these companies
in their North American expansion plans by providing relevant market
intelligence as well as linking them up with potential customers,
distributors and investors. This support successfully opened over
US$5 million worth of business opportunities and enabled Singapore-
based companies to jumpstart their businesses in the US.
On 8 August 2004, IE Singapore, together with Tiger Beer (USA), Singapore
Tourism Board and Singapore Food Industries, launched the Tiger Beer
Singapore Chili Crab Festival in Brooklyn, New York. The event was
launched as part of IE Singapore‘s strategy to raise awareness of Singapore‘s
food and beverage products among mainstream American consumers.
Over the course of the year, IE Singapore led missions targeting industries
in the textile and garment and transport and logistics sectors, and set
up national pavilions in the Fancy Food Summer Show and Consumer
Electronics Show. Five textile and manufacturing companies – Ocean
Sky, Pacific Garment, Sing Lun, Ponie International and Lee Yin –
participated in the Textile & Garment mission from 18 to 24 October
2004, accessing potential contracts valued at about S$6 million. For
the logistics sector, PSA Shipper, PIL Logistics, Speedmark and Pinnacle
Transport participated in a transport and logistics mission from 25 to
30 October 2004, accessing over S$2 million worth of potential business
contracts. Five food and beverage companies – Kwong Cheong Thye,
TG Kiat, Hua Khiang, Orient Foods and Wong Coco – exhibited at the
Fancy Food Summer Show from 27 to 29 June 2004. Technology
companies Akira International, Advent Electronics, Hexon Technology,
Kobian, MRD Technologies, Shiro Corporation, SMART ID and Sumitronics
participated in the National Pavilion at the Consumer Electronics Show
from 6 to 9 January 2005.
Back in Singapore, we successfully organised three main outreach seminars,
each targeting over 200 participants. These seminars were ‘Navigating
the UN: Procurement Opportunities for Singaporean businesses’, ’US
Government Procurement’, and ’Iraq Reconstruction Opportunities’.
Efforts were also undertaken to enhance our working relationship with
the US Foreign Commercial Services (FCS). To provide FCS officials with
a better understanding of Singapore and to make them our ambassadors
to US companies interested in doing business with Singapore, IE Singapore
collaborated with the Economic Development Board, the Ministry of
Trade and Industry and the Singapore Tourism Board to offer a one-week
programme for a team of FCS officials in Singapore, in conjunction with
a business seminar attended by 120 participants.
Latin America Seductions
The Latin American market had a very busy year too. A combination
of outgoing sector-specific missions organised to major markets such
as Mexico, Brazil, Panama and Chile, coupled with incoming delegation
visits from these same countries, resulted in the facilitation of business
deals worth approximately S$335 million for Singapore-based companies.
Negotiations on the Panama-Singapore Free Trade Agreements and
Peru-Singapore were also initiated, along with new rounds on the
Singapore-Chile-New Zealand-Brunei Trans-Pacific Strategic Economic
Partnership Agreement.
[ Operational Review – Americas ]
For the year in review, Singapore-based companies continued to make
headway in Mexico in new sectors. IE Singapore‘s promotional efforts
resulted in eSys, a Singapore-based IT entrepreneurial company, clinching
a US$30 million deal to supply 160,000 (first phase) personal computers
to Telmex, one of Mexico‘s largest telecommunications company. Other
high profile developments included Banyan Tree Hotels and Resorts‘ joint
ventures with Mexico‘s Grupo Mexicano de Desarrollo (GMD), S. A.
(GMD) and Spain‘s Obrascon Huarte Lain Group (OHL) to manage resorts
in Punta Diamante, Acapulco and Mayakoba, Riviera Maya, respectively.
Panama, a relatively new market for Singapore, offered some niche
business opportunities. IE Singapore hosted an official visit from Panama
in February 2004, which marked the launch of the Panama-Singapore
Free Trade Agreement negotiations. The visiting delegation invited
Singapore-based companies to participate in developmental projects
in Panama in the airport, maritime and logistics sectors. IE Singapore
subsequently led a mission to Panama in late March 2004, which resulted
in Inter-Roller Engineering Ltd winning an award to supply an airport
baggage handling system to Panama‘s Tocumen Airport.
Recognising the increasing importance of the Latin American markets,
IE Singapore organised and hosted the first Latin-Asia business conference
named ‘LatinAsia Business Forum’ in September 2004. Targeted at
building ties, creating awareness and promoting business collaborations
between the two continents, the forum was well attended with over
200 companies.
AR_49
CHARLESTONStephen Ward (not pictured)
Honorary Business Representative
WASHINGTONBalagopal NairDirector
Counsellor (Commercial)
NEW YORK & SAN FRANCISCOHoo Hoe KeatCentre Director
Left to Right
SANTIAGOPeter HillHonorary Business Representative
SAO PAULOTer Yeow MingArea Director
MEXICO CITYCynthia Haro (not pictured)
Centre Manager
NEW YORK
WASHINGTON
CHARLESTON
MEXICO CITY
SAN FRANCISCO
SAO PAULOSANTIAGO
AR_50
Europe Bursting with Opportunities
Europe continues to be an important market, with the European Union‘s
(EU) share of Singapore‘s international trade rising steadily over recent
years to peak at 13.2 per cent in 2004. This has pushed the EU as a
group of countries to be Singapore‘s second largest trading partner. In
May 2004, European integration gained further strength with its successful
enlargement and admission of 10 Central and Eastern European countries,
bringing the total membership to 25 states with over 450 million citizens.
The economic integration and EU‘s investment funding in infrastructure,
research, enterprise promotion, environmental protection, and tourism
and training, among others, hold great opportunities for Singapore-
based companies.
Beyond the EU, Russia and the Commonwealth of Independent States
(CIS) have also attracted businesses with their economic appeal. Since
1998, Russia has had six straight years of growth and averaged 6.5 per
cent annually. This impressive feat was matched by Kazakhstan, which
has posted annual growth of over 9 per cent since 2000. These countries
have embarked on industrial policies to modernise their manufacturing
sectors. The growing sophistication of the people and businesses is also
generating rising demand for electronic and consumer products, and
capabilities in IT and logistics services.
For the year in review, IE Singapore continued to support Singapore-
based companies to tap new opportunities opening up in Europe. This
was done through enhancing companies‘ knowledge of the European
markets, building connections between Singapore and European
businesses, and providing in-market support. In addition, IE Singapore
also engaged European firms looking at the Asian markets to work
with Singapore partners and to locate their regional operations here.
To help Singapore companies understand the business prospects in
Europe, various seminars were organised across the year such as on
Dortmund (Germany), the European Bank for Reconstruction and
Development (EBRD), Poland, Romania and Russia.
IE Singapore also hosted numerous European organisations‘ visits to
Singapore. Key representatives from Alfa Bank (Russia), Electrolux
(Sweden), Ericsson (Sweden), MG Rover (UK), Sainsbury‘s (UK), Smith
& Nephew (UK), Infast (UK), ElectroComponents (UK), Premier Farnell
(UK) and Continental Teves (Germany) visited and met Singapore-based
companies to explore business opportunities. In addition, IE Singapore
assisted Singapore-based manufacturers to increase their profiles to
automotive suppliers such as Bosch, Continental Teves, Brose, BOS,
Siemens Medical Solutions, Siemens VDO and Valeo and Phonak.
Networking sessions helped Singapore-based firms meet their counterparts
in Baden-Wurttemberg, Bavaria and North-Rhein Westphalia, Berlin-
Brandenburg (Germany), Lithuania, Poland and Russia. IE Singapore also
assisted in establishing the Brandenburg Centre in Singapore, enhancing
Germany-Singapore business collaborations in the region.
For the year in review, we went to several leading trade shows such as
SIAL, CeBIT, Compamed and Automechanika to showcase Singapore-
based companies‘ products and services. To leverage on Europe‘s
outsourcing trend in automotive, medical and consumer electronics
sectors, we customised sectoral business trips to the UK and Germany.
In addition, business missions were organised to the Czech Republic,
France, Hungary, Kazakhstan, Russia and Switzerland.
[ Operational Review – Europe ]
AR_51
MOSCOWRajinder SethiHonorary Business Representative
LONDONCarolyn NeoRegional Director
First Secretary (Commercial)
Left to Right
STOCKHOLMChrister RonnegardHonorary Business
Representative
FRANKFURTTimothy TohCentre Director
Kuok Oils & Grains is one of several Singapore-based companies that has
made investments in Europe, with a S$58-million joint investment to
build and operate a processing facility in Rotterdam in Netherlands.
In the UK, SurgiLance, the designer and manufacturer of safety medical
devices, won a tender contract by the National Health Service to supply
‘One-Step’ safety lancets. The contract is estimated to be worth S$7.5
million over three years from 1 April 2004. In addition, Sunningdale,
a precision plastic manufacturer, won a S$6 million contract to provide
contract manufacturing services of automotive parts to AB Automotive,
a key first tier automotive player in the UK. Other Singapore companies
like Amtek Engineering and First Engineering also won contracts with
Brose and Valeo respectively.
For 2004, other companies including Wearnes Precision, Univac, First
Engineering, Pokka, Tat Hui, FE Global and Enzer made progress in
supplying to buyers in Germany and the UK. In addition, Jurong
Consultants successfully secured a master-planning project in Almaty,
Kazakhstan while ST Engineering made inroads into Kazakhstan in a
joint-venture with Kazakhstan Engineering.
STOCKHOLM
FRANKFURT
LONDON
MOSCOW
Corporate Group • Enterprise Group • Capability Development Group...
helping your business to grow and internationalise.
Kisha Chantelle Krishna, International Operations
(Americas), IE Singapore
AR_54
IE Singapore has been actively helping Singapore-based companies
grow and expand in the region and beyond – primarily those in
the lifestyle business, international trading, transport and logistics,
business services, infrastructure services, electronics and precision
engineering and infocomm technology, among other sectors.
Besides assisting our companies through trade missions, seminars
and our extensive global connections, we are also helping them
build up soft skills in branding, design, intellectual property and
other tools to boost their international competitiveness.Ted Tan, Deputy Chief Executive Officer, IE Singapore
“
”
BACK ROW (from left to right): Kathy Lai, Director, Corporate Group, Angela Png, Deputy Director, Capability Development Group, Leong Peng Kiong, Director, Capital Enabling
Group, Andrew Khaw, Acting Director, Corporate Group and Aw Siew Juan, Director, Trade Promotion Group
FRONT ROW (from left to right): Thian Tai Chew, Director, Enterprise Group, Tan Li Lin, Director, Corporate Group and Ted Tan, Deputy Chief Executive Officer, Corporate Group
IE Singapore
[ Operational Review – Corporate Group ]
AR_56
Creating Fresh Flavours in Lifestyle Business
Food and Beverage Manufacturing
The year in review saw the birth of ‘Tasty Singapore’, a whole new
industry brand identity now used worldwide to market Singapore’s food
manufacturing industry. Given our companies’ relatively small size
compared to foreign players, banding them together offers added
advantage when profiling Singapore’s food manufacturing industry to
an international audience.
With this objective in mind, IE Singapore worked together with the
Singapore Manufacturers’ Federation and the Singapore Food
Manufacturers’ Association to develop ‘Tasty Singapore’.
Riding on the brand of ‘Tasty Singapore’, 19 Singapore-based companies
came together to participate in Foodex Japan 2005. This was the biggest
contingent to participate in a Japanese food trade show. Foodex
generated S$450,000 in confirmed sales, and over the next 12 months,
a total of S$3.6 million in sales is expected. Salon International
del’Alimentation (SIAL) in Paris also saw a record-high participation of
34 Singaporean companies.
Through a food and beverage mission to Melbourne and Sydney in
August 2004, we assisted five Singapore-based companies to meet key
packaged food retailers in Australia, namely Coles, Woolworths, ALDI
and 7-Eleven. In a mission to New Delhi in December 2004, we assisted
12 Singapore-based companies to meet some 28 potential importers
and distributors. Total increase in overseas sales from this mission is
estimated to be about S$260,000. In a UK food promotion at Oriental
City and Partridges in London, we also helped link 11 companies with
UK retailers. Some of these companies included Tai Hua, Singapore
Food Industries, Thong Siek, Eu Yan Sang and Amoy Canning.
IE Singapore, the Singapore Tourism Board (STB), Tiger Beer and
Singapore Food Industries came together to organise the first annual
Tiger Beer Singapore Chili Crab Festival in New York in August 2004
The street festival promoting local culinary delights such as chilli crab,
beef rendang, satay and Tiger Beer attracted over 4,000 New Yorkers
and the attention of potential distributors in the US.
Food Services
In 2004, Singapore’s food services companies continued with the push
to bring their special flavours across the globe. These efforts have paid
off, with our food services companies opening over 400 outlets overseas,
with a concentration mainly in the Asia Pacific region.
At the company level, IE Singapore helped Singapore food services
companies set up outlets in key Asian markets. Since June 2004, BreadTalk
has opened four outlets in Manila. Through our facilitation, Apex-Pal
has also opened its first Crepes and Cream outlet in Manila in March
2005. In Japan, fine-dining Chinese restaurants Tung Lok and Imperial
Treasure opened their first outlets in Ginza and Shiodome respectively.
Our mission to Indonesia gave us the opportunity to link 19 Singapore-
based companies with nine malls and potential partners.
AR_57
Even as they continue to deepen their presence in the traditionally
popular markets of China and Southeast Asia, Singapore food services
companies are also starting to embark to new and promising regions
such as the Middle East markets. Dubai, in particular, holds great
potential with its phenomenal tourism, infrastructural and retail
developments. IE Singapore led a mission to Dubai in December 2004,
where Singapore-based companies were introduced to mall operators
and potential partners.
Textile and Apparel Industry
With the phasing out of the textile quota under the WTO Agreement
on Textiles and Clothing in January 2005, the duty-free entry of Singapore-
originating textile and apparel products into the US will offer a competitive
price advantage of between 5 per cent and 15 per cent, compared to
similar dutiable products.
In anticipation of the potential opportunities created by the lifting of
quota restrictions, IE Singapore organised a major road show in October
2004 to the US and the UK. Working closely with Textile and Fashion
Federation Singapore (TAFF), we brought five major Singapore garment
companies to these countries to meet new buyers and market our
industry’s capabilities to global market players. The road show is estimated
to generate about US$3.6 million and US$1.14 million for the US and
the UK markets respectively over the year 2005.
At the company level, we supported our textile and apparel companies
in setting up overseas presence to be better connected with buyers.
We also helped companies to identify and build their competencies
through trends forecasting and design workshops. IE Singapore once
again came together with the industry association to make the annual
Singapore Fashion Week a success.
In April 2004, IE Singapore assisted TAFF in bringing seven fashion
companies to participate in Motexha Spring/Summer 2004 in Dubai,
a bi-annual textile and fashion show that attracts over 5,000 buyers,
retailers, dealers and distributors from over 20 countries. As a result of
the show, all seven companies either secured confirmed orders or had
potential business leads.
Furniture
The year in review saw a smooth roll out of the six strategic thrusts that
arose from the Furniture Industry Capability Upgrading Programme,
a three-year plan to upgrade the industry. IE Singapore worked closely
with the industry on initiatives such as growing and expanding the
furniture business globally, raising design standards, establishing a
furniture learning institute and creating an international furniture
trade centre.
In particular, the plan to make Singapore the furniture hub for the
region is well underway. Sungei Kadut, given its high concentration
of furniture companies, was earmarked as the ideal location to create
a furniture lifestyle enclave. The iconic international furniture centre
will be a permanent export showcase, with manufacturers from both
Singapore and overseas. The centre will also house a design village,
prototyping facilities and a furniture learning institute, among
other facilities.
We also continued working closely with the Singapore Furniture Industries
Council and the Singapore Furniture Association on various key initiatives,
including the 23rd International Furniture Fair Singapore. The IFFS 2004
attracted more than 17,000 trade professionals and 450 exhibitors. The
event saw an on-the-spot order of US$225 million, and an estimated
follow up sales of close to US$1.9 billion.
Continued on page 60
[ Branding for Food ]
IE Singapore provided us with the platform to participate in trade
shows and exhibitions under the IE pavilion in overseas markets.
Our market presence has widened rapidly through these
international trade shows. Under the support of IE Singapore,
we have also engaged a consultant to assist us in the brand
review, brand creation and brand development and packaging
of our products. It is also our honour that IE Singapore has
selected Unicurd as one of the inaugural Tasty Singapore
Brand Ambassadors.Francis Goh, Managing Director, Unicurd Food Company Pte Ltd
Established in the early 1980s, Unicurd Food Company has built up
a strong reputation for producing premium quality tofu products and
soymilk. Today, Unicurd exports its tofu products to countries like the
UK, France, Holland, Germany, Italy, Sweden, Switzerland, New Zealand,
Hong Kong, and the US, among others.
AR_58
“
”
Mark Loo, Account Manager, Enterprise Group, IE Singapore and Francis Goh, Managing Director, Unicurd Food Company Pte LtdUnicurd FoodCompany Pte Ltd
[ Operational Review – Corporate Group ]
AR_60
Helping Our Business Services Companies Grow
In 2004, IE Singapore continued to focus on helping Singapore-based
companies specialising in education, financial, healthcare and printing
services to reach new markets and seek out business opportunities.
Education Services
IE Singapore continued to work with our Singapore-based education
services companies to develop critical competencies for
internationalisation, and to promote the sector by leveraging on the
strong Singapore education brand. In 2004, our education services
companies showed an increased interest in both China and India. In
March 2004, we facilitated Eton House International School’s venture
into Dongguan, China. We were also instrumental in helping Raffles
Education Corporation to establish the Raffles Education Network
Representative Office and expand the Raffles Design Institute in Mumbai.
Financial Services
Through IE Singapore’s efforts, a total of 83 Chinese companies from
various industries have successfully listed in Singapore as of June 2005.
The financial services sector operates in a highly competitive environment
and IE Singapore has been taking steps to make it attractive for overseas
companies to list here. Our listing professionals have been able to make
headway into the China market by taking on a key advisory role in legal
and accounting-related activities for the Chinese companies.
In partnership with the Singapore Exchange (SGX), we have been actively
reaching out to companies via road shows and business missions to
Beijing, Chengdu, Guangdong, Liaoning, Fujian, Shandong and Zhejiang
in China. We have also started to work with SGX to link up with the
Indian community to promote the Singapore bourse.
On the fund and asset management sector, we conducted several
exploratory missions to China and Malaysia for Singapore-based
companies. The Middle Eastern market is also looking promising. Efforts
will be further strengthened as interest mounts among local players
looking for fresh funds to manage.
In 2004, we assisted Great Eastern Life in its application for a preparatory
Life Insurance Licence in Chongqing, which was successfully obtained
in August.
Healthcare Services
In 2004, we conducted various market feasibility studies and helped
several Singapore-based healthcare players to devise market entry
strategies. In addition, we facilitated many of their ventures into
upcoming markets such as China and India. These efforts resulted in
VisionHealthOne’s successful collaboration with renowned Fudan
University Hospital Group to set up the Fudan Vision Medical and
Healthcare Centre in Shanghai. The collaboration was spurred by our
earlier support for VisionHealthOne to set up a marketing office there.
Another player, Pacific Healthcare opened its Pacific Medical Centre in
Hyderabad in October last year with strong support from IE Singapore.
Apart from hospitals and medical centers, stem cell banking has also
made its way into new markets such as Hong Kong. We assisted CordLife
in its market strategy study on Hong Kong, following which the company
successfully established roots in the market in March 2005.
AR_61
Printing Services
Singapore’s printing sector, known for its reliability and quality, has
successfully carved a positive reputation for itself globally. Coupled with
Singapore’s excellent port facilities, efficient customs clearance and
strong Intellectual Property Protection environment, our printers are a
natural choice for many overseas publishers. The latest figures reveal
that in 2003, our print exports amounted to S$670 million. With over
900 establishments employing well over 19,000 workers, the total
printing industry sales reached S$2.6 billion or about 1 per cent of GDP
for 2003. The outlook remains positive over the next few years, with
Singapore well placed as an international printing centre serving the
global markets in countries like the US, the UK and Australia.
There has also been a growing opportunity for our companies to venture
into parts of Europe where German is the dominant language. In view
of this, IE Singapore organised an outreach seminar called ‘Voices of
Europe’s Publishers’ in September 2004. The seminar aimed to update
our printers on the demands and requirements of German-speaking
publishers. The following month, IE Singapore led a strategic business
mission to meet seven key German-speaking publishers in Germany
and Switzerland. As part of our international marketing efforts, we also
supported trade associations in organising the Singapore Pavilion at
the Frankfurt Book Fair in October 2004 and the London Book Fair
earlier in the year. Over 10 Singapore-based companies benefited from
the fairs.
Exhibition Management Services
The year in review saw industry players in the Singapore Exhibition
Services forming alliances to increase their competitiveness. IE Singapore
worked with key players to form a consortium when tapping regional
opportunities in the exhibition and convention sector. A consortium
was formed in January 2005 to manage the Binhai International
Convention and Exhibition Centre in Tianjin, China.
Revving Up the Transport and Logistics Sectors
The transport and logistics (T&L) sectors served by IE Singapore comprise
logistics and supply chain management, maritime and port, and aviation.
One of the highlights in 2004 was the Singapore Transport and Cluster
Logistics Showcase Mission to China in April, led by Minister of Transport
Yeo Cheow Tong. Twenty-three companies from the logistics, aviation
and e-logistics clusters came together to explore market opportunities
and profile their capabilities in Dalian, Shenyang and Beijing.
Two consortia were formed under the iPartners programme – Singapore
Airport Consortium (SAC) and Singapore e-Logistics Consortium (SeLC).
Made up of 12 airport and aviation-related services providers and led
by Changi Airport Managers & Partners, SAC set up a Beijing Office in
May 2004. The consortium organised several market development trips
to various China provinces and cities. SAC members have secured eight
projects in seven airports in China, with another 15 to 20 projects in
the pipeline. Besides China, SAC members have also explored aviation
opportunities in Indonesia and India. For the e-logistics sector, the SeLC
led by IPACS e-Solutions, offers an integrated suite of IT solutions
targeted at the logistics industry in China.
For the year in review, logistics services providers focused mainly on
expanding their logistics networks in Asia Pacific. Examples include Accord
Express, which set up operations in Shanghai; YCH Group, with a new
state-of-the-art distripark in Tianjin and a strategic alliance with United
Terminal Services Group in Philippines; and Sembcorp Logistics in a
Philippines joint-venture with MacroAsia Corporation and an Indonesian
joint-venture with PT Nikos Intertrade. Meanwhile, Freight Links Express
made a strategic investment in China GSD Logistics in Shenzhen.
IE Singapore also organised three logistics-focused missions to the
Philippines in September, the US in October and Western China in
November. We also embarked on our first-ever chemical logistics mission
to Eastern China in March 2005.
[ Operational Review – Corporate Group ]
AR_62
In another first, IE Singapore jointly organised with the Civil Aviation
Authority of Singapore the sea-air transhipment promotion mission to
Vietnam, Cambodia and Myanmar in July 2004 in anticipation of the
lifting of worldwide textile quotas. This mission saw participation from
over 20 freight forwarders and logistics companies. Two outreach
seminars were also conducted in February 2005 to highlight IE Singapore’s
internationalisation programmes for the members of the Singapore Air
Cargo Agent Association and the Singapore Logistics Association.
For our seaport and terminal handling players, our key Singapore port
operator PSA bought over Hong Kong’s Container Terminal No. 3 and
Container Terminal No. 8 West in a deal worth HK$3 billion in February
2005. In an earlier development, Portek – an operator of small and
medium-sized container terminals – expanded its port operations to
the Bejaia Mediterranean Terminal in Algeria in August 2004.
For the coming year, besides continuing with our existing strategies,
we will focus on developing a new cluster – Marine and Offshore
Logistics (MOL) – through consortia formation.
An International Trading City
IE Singapore works to position Singapore as the ideal launch pad for
foreign trading businesses to expand into the region and beyond. Over
the years, we have gained international recognition as a global trading
city. Today, over 170 international trading companies have chosen
Singapore as a base for their trading activities. In 2004, they generated
a total physical trade turnover of over US$175 billion and local business
spending of more than S$4 billion.
In 2004, several companies expanded their trading activities and renewed
their business commitment to base in Singapore over the long-term.
One of them, Shell Eastern Trading (Pte) Ltd, was conferred the Approved
Oil Trader status in 1989 and has since increased its turnover 18 times.
Shell expanded its trading portfolio and chose Singapore to locate its
key LNG trading hub, leveraging on its existing presence here and our
proximity between supplying regions in Australia, Indonesia, Malaysia
and consuming regions in China and India.
SABIC Asia Pacific is yet another example of a company that is committed
to growing its trading operations in Singapore. SABIC is among the
world’s fastest growing petrochemical companies and the Middle East’s
largest non-oil industrial company, contributing about 70 per cent of
Saudi Arabia’s non-oil exports.
As part of our efforts to internationalise local trading enterprises, the
International Trading Division has been working closely with players
from the agri-commodities, chemicals and energy clusters in 2004.
One of them is Ng Nam Bee Marketing Pte Ltd, a homegrown enterprise
trading in sugar, rice and related food products. The company has
aggressively expanded its operations into Southeast Asia, China and
Europe under various assistance programmes provided by IE Singapore.
Under the IE-Overseas Marketing Office scheme, the company established
its first marketing office in Beijing and is currently in the process of
setting up its second marketing office in Amsterdam, Netherlands. In
addition, with IE Singapore’s facilitation, the company has also successfully
secured tender projects for the supply of sugar to neighbouring countries.
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The company is also supported by IE Singapore under the Innovation
Development Scheme for its research and development in setting up
the first rice mill in Singapore.
To capitalise on the growing demand for commodities by the Chinese
market, we organised two agri-commodities mission to major Chinese
cities of Shanghai, Beijing, Chengdu and Kunming in May and September
2004. More than 40 companies benefited from these missions.
Electronics and Precision Engineering Sector Remains Strong
Singapore's Electronics and Precision Engineering (EPE) sector has a
strong history of supplying manufactured components and parts to
global buyers such as Hewlett Packard, Motorola, Philips, Seagate and
Siemens over the past 25 years.
Today, we continue to provide excellent value to the world's global
buyers as many of our suppliers have established a strong network of
marketing offices and manufacturing plants within and outside of
Singapore, especially in Asia. Our companies have also built up stronger
manufacturing supply chain capabilities and niche technologies that
will allow them to achieve greater growth in the years to come, given
the unabated trend for global buyers to source from this region.
In 2004, our EPE sector saw several achievements. For example, our
inaugural Singapore procurement event, Global Asia Trade Exchange
(GATE04), witnessed some 25 buyers and 65 suppliers attending the
event. Some of these global buyers included ASM, Cherry, Continental,
Denso, Edwards Lifesciences, Leica and Smith & Nephew. Together, the
sourcing amounted to an estimated US$2 billion. Outside of Singapore,
we have also facilitated more than 200 of our companies in their
internationalisation efforts by organising overseas trade missions to key
markets such as China, Germany, Japan and the US and through our
participation in major world exhibitions such as Automechanika in
Frankfurt and Consumer Electronics Show in Las Vegas.
Helping Infrastructure Services Expand
Over the years, Singapore-based companies in the infrastructure services
(IS) sector have gathered invaluable experience, expertise and knowledge
and are positioned to offer insights and solutions to infrastructure
projects overseas.
The companies in the IS sector can be broadly categorised into engineering
and construction, real estate and hospitality, offshore engineering and
marine, environmental and utilities, power, as well as professional
services. These cover the entire spectrum of infrastructure services
activities ranging from masterplanning, consultancy, engineering-
procurement-construction, facilities management to investment for real
estate, infrastructure and process plants.
These infrastructure companies have been the key contributors towards
Singapore’s development over the last 30 years in land transport systems,
environmental plants and township planning. Singapore has over the
years become a testbed to showcase these competencies.
Besides the hardware, companies in infrastructure services also need
expertise and management skills. In an ever changing business
environment, companies have to adopt a total solutions approach. To
promote the infrastructure sector, IE Singapore is proactively bringing
various Singapore-based companies under a consortium umbrella for
them to provide a more complete spectrum of turnkey services. The
combining of such competencies will benefit international clients who
aim to implement key infrastructure projects in the most optimum
configurations.
For the year in review, IE Singapore organised 15 missions with key
Singapore-based companies to explore potential markets in 11 countries.
These included new markets such as Sri Lanka, Kazakhstan and the
Middle East, as well as traditional markets like China, India and
Southeast Asia.
Continued on page 66
[ Solid Deals ]
IE Singapore has been helpful in a number of ways, with staff
visiting us to provide useful information and to exchange views
on a regular basis. IE Singapore has also organised seminars,
conferences and summits to enable us to explore new business
opportunities and gain new business contacts. The organisation
also helped us to finally get the Global Trader Programme status.Tian Jingqi, General Manager, Minmetals South East Asia Corporation Pte Ltd
The regional headquarters for China Minmetals Corp, Minmetals South
East Asia Corporation Pte Ltd was incorporated in Singapore in 1994.
The company’s activities include intra-regional and third country trade
and the import and export of iron and steel products, raw materials
and non-ferrous metals, among others.
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“
”
Jean Chia, IE Singapore, International Trading, Corporate Group and Tian Jingqi, General Manager, Minmetals South East Asia Corporation Pte LtdMinmetals South EastAsia Corporation Pte Ltd
[ Operational Review – Corporate Group ]
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To prepare our companies to undertake major projects overseas and
offer them insights to overseas opportunities, we also organised a series
of seminars that attracted very positive response from the industry.
These included the Project Financing Seminar, European Bank for
Reconstruction and Development Seminar, the UN Seminar and the Iraq
Reconstruction Seminar.
IE Singapore also worked with associations as multipliers to assist a
broader spectrum of companies. These included the Singapore
Contractors Associations Limited and Association of Singapore
Process Industry.
Showcasing Singapore Info Communications Technology
For the year in review, we focused on Singapore-based Info
Communications Technology (ICT) companies that have developed
replicable solutions which other countries and companies can adopt
easily in the areas of Intelligent Transport System (ITS), financial
technology and e-government. In total, we organised seven overseas
branding seminars, missions and exhibitions in key markets such as
China and Japan, and in emerging markets in Central Eastern Europe
and the Middle East.
To enable our players to compete more effectively in the global market,
IE Singapore supported the formation of an industry-led ITS consortium.
Comprising four companies and led by ST Electronics (Info-Comm
Systems) Pte Ltd, the consortium aims to provide integrated
communications systems for trains in China.
The year 2004 also marked Singapore’s first-ever presence at the ITS
World Congress in Japan. IE Singapore led a delegation of four leading
local ITS players, together with the Intelligent Transportation Society
(Singapore), to showcase their capabilities and to raise the international
profile of Singapore in this field.
In other areas, IE Singapore hosted a delegation of 27 representatives
from 15 international banks in our ‘One Day Exploration of Singapore’s
Global Banking Landscape’ event. Held in conjunction with The Asian
Banker Summit 2005, this was the first time a tour of Singapore’s
financial technology services had been organised for international
bankers. The group was shown the cutting edge financial technology
solutions which have earned Singapore the reputation of a regional
financial services hub.
In the area of e-government, IE Singapore partnered The Asian
Development Bank to host 29 senior customs officials from Central and
East Asia for a three-day forum on ‘Trade Facilitation and Customs
Modernisation in Singapore’. The forum showcased Singapore’s
experience in modernising customs and tax services and generated a
total project value of some US$24 million.
IE Singapore led 21 Singapore-based companies to the flagship CeBIT
2005 in Hannover, Germany in March with the theme ‘Ideas for a New
Generation’. The exhibition generated a total project value of at least
S$43 million.
[ Operational Review – Enterprise Group ]
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Customer Service Centre Excels in Role
The year 2004 saw IE Singapore’s Customer Service Centre (CSC)
clinching gold awards for the New Call Centre of the Year (Singapore)
in the 4th Annual Call Centre Awards and the Inaugural Regional Call
Centre Awards (Hong Kong, Malaysia and Singapore) in November. The
annual awards were organised by The Call Centre Council of Singapore.
For the same year, the centre handled a total of 31,492 inbound calls
and written enquiries.
In July, CSC, together with our Web Services Unit, launched the ‘Ask IE’
feature on the corporate website to assist companies with information
on internationalisation. With IE Singapore’s launch of the Customer
Relationship Management System in March 2005, CSC began to use
the ‘Service’ module to improve the recording and service-monitoring
of customers’ requests.
In a new attachment exercise, 10 staff from IE Singapore’s various
divisions spent two days at CSC to handle customers’ enquiries and to
get a better understanding of the products and services offered by
IE Singapore.
Enterprise Services Unit and Business Development
Complementing CSC, the Enterprise Services Unit (ESU) handles and
resolves our customers’ more complex enquiries. These include
internationalisation-related issues such as updates on market trends,
business practices, government regulations in various countries, ways
to identify the right partners and information on assistance schemes
for overseas expansion.
ESU launched the iAdvisory Service in March 2005 to further help
companies internationalise. Leveraging on the expertise of private-
sector practitioners and consultants, the programme consists of two
components – a bi-monthly seminar-cum-clinic session covering financial,
regulatory, legal and international trade topics, and a panel of pre-
qualified iAdvisors with whom companies can discuss their business
plans and seek preliminary assistance and recommendations.
Enhancing Web Services
IE Singapore relaunched its website in October 2003 and formed a
specialised Web Services Unit dedicated to providing information and
e-services for our customers through the online channel. In 2004, the
web services team was rewarded for their efforts in enhancing the
website when they bagged two awards – the ‘Best Website’ Usability
Award by the Ministry of Trade and Industry and the ‘Standard of
Excellence’ Award by the Web Marketing Association in the US. The
Unit achieved a 40 per cent increase in visits to the IE Singapore website
from its previous year, with a record of page views that exceeded six
million in 2004.
Moving forward, the Unit plans to further enhance IE Singapore’s
website with segmented and personalised content to fulfill the various
needs of our customers. It will look at marketing and promotion, new
web features and richer content. The web team will also incorporate
infrastructure upgrades and implement e-government initiatives in its
working year plan.
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Providing Vital Information Through Resource Centre
IE Singapore’s Resource Centre (RC) received and responded to more
than 15,000 enquiries from the business community in 2004. Apart
from that, RC continues to serve its customers and members by building
on its diverse range of internationalisation-related information through
its library services, trade statistics, business matching, publications
and events.
Library Services
More than 4,500 customers and members utilised the library’s
comprehensive resources in 2004. The library now stocks over 10,000
publications and provides access to 23 online databases. As part of the
ongoing improvement in services, the library developed new services
to deliver information to customer’s desktops. Customers can now
obtain news from ISI Emerging Markets, as well as corporate credit
reports from Credit Smart.
Trade Statistics
In 2004, more than 1000 mainly corporate customers utilised Trade
Statistics Unit’s services. To reach an even wider audience, the Unit
formed partnerships with data providers such as Bloomberg, Reuters,
Global Trade Information Services, CEIC Data, ISI Emerging Markets
and Global Insight Inc., and Norwegian Energy Limited. Demand also
rose for archival data, and the unit responded with a feature that allows
customers to request for Singapore trade figures dating back to 1986.
Publications
IE Singapore published a wide range of titles in 2004 to keep the
business community updated on opportunities and to help them grow
their capabilities for internationalisation. IE Singapore’s publications
have also gone global with a readership that extends from the US to
New Zealand and the Netherlands. Some of the titles published during
the year of review included:
• ‘Designed for Global Success’: A collection of 14 case stories that
highlights how Singapore-based companies leverage on design in
their corporate strategy for market expansion and growth.
• ‘Serving up Success’: Showcases 19 Singapore-based food service
players that have aggressively pursued expansion in international
markets.
• ‘Hot Ideas off the Belt’: Profiles 19 Singapore-based food and
beverage companies, their history, a look at how they have achieved
success and their range of innovative products.
• ‘The Nuts & Bolts of the United States – Singapore Free Trade
Agreement’: An IE Singapore guide written by the teams from Rajah
& Tann and the Singapore Business Federation, the publication provides
a simplified explanation of the trade agreement and presents practical
examples with scenarios of how the agreements have been used by
businesses, plus a section on FAQs and answers.
• ‘Financing Internationalisation – Growth Strategies of Successful
Companies’: Features various financing options available to Singapore-
based companies keen to internationalise their business.
Business Matching
In line with IE Singapore’s mission to help Singapore-based enterprises
grow and internationalise successfully, we have several business-matching
initiatives that assist local companies find and meet potential overseas
business partners.
IE Singapore organised four face-to-face business matching events in
2004. A total of 164 one-on-one meetings were set up between 33
overseas companies from Italy, Germany, Russia and Japan and 84
Singapore-based companies.
[ Operational Review – Enterprise Group ]
[ Operational Review – Enterprise Group ]
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More than 1,000 companies participated in IE Singapore’s organised
business matching events and services. We also have several other
initiatives to help Singapore-based companies find potential overseas
business partners. These include the International Business Opportunities
portal (www.businesscontact.gov.sg), the Singapore Products and
Services portal (www.iesingaporebiz.com) and the Top Singapore
Importers and Exporters Directory 2005.
Outreach Programme
As part of our outreach programme to help companies venture further
into new markets, we introduced a new seminar series called ‘Penetrating
World Markets’ which attracted more than 340 participants. The
Enterprise Group also participated in seminars organised by trade
associations to keep ourselves updated on the latest trends and
international business opportunities.
International Partnerships
With the launch of the International Enterprise (IE) Hub Initiative in
November 2003, IE Singapore boosted its efforts and commitment in
the year of review towards attracting foreign government and trade
and economic bodies to establish their regional centres in Singapore.
IE Singapore engages these long-term partners to attract companies
from their respective countries to Singapore, and match them with
Singapore-based companies to explore third markets. With their unique
networks, knowledge and expertise, many of our foreign partners
actively promote Singapore as a gateway to Asia to their own enterprises
seeking trade and investment opportunities in this region. A total of
11 centres have been set up under the IE Hub Initiative since November
2003, attracting a total of 97 foreign enterprises.
IE Singapore also oversees the administration of the Representative
Office (RO) Scheme which provides a useful platform for foreign
companies, government and trade bodies to set up a presence
in Singapore.
The year 2004 saw a total of 206 new foreign enterprises registered
under the RO scheme, with 52 graduating to become legal entities.
Foreign government and trade and economic bodies registered under
the RO scheme include Gyeonggi Provincial Government, Investment
and Trade Promotion Centre of Ho Chi Minh City, Suzhou Industrial
Park Administrative Committee and Australian Capital Tourism
Corporation. A project to enhance the current online Representative
Office Management System was undertaken in 2004. Launched in June
2005, the new system aims to improve turnaround time for all applications
and to raise online registrations from 60 to 80 per cent.
IE Singapore hosted and chaired the 18th Asian Trade Promotion Forum
(ATPF) on 24 February 2005, which brought together 17 out of the 21
member economies. The forum explored issues such as enhancing trade
in the region through information exchange, implementing cooperative
projects and strengthening networks among ATPF members.
[ Operational Review – Trade Promotion Group ]
[ Operational Review – Capability Development Group ]
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Business Capability to Enhance Competitiveness
IE Singapore’s efforts to develop critical, firm-level business competencies
within internationalising Singapore-based companies were well-received
by the business community. For the year in review, we stepped up our
initiatives in the area of alliance formation, branding, design and
intellectual property.
Alliance Formation
Since October 2003, the iPartners programme has supported the
formation of eight alliances, which will benefit 42 companies. Alliances
comprising Singapore-based companies were formed to target opportunities
in sectors of airport development, mass rapid transit systems, logistics,
food and beverage and exhibition management services.
Design
IE Singapore continued to promote the use of design in business for
the year in review. In the biennial Singapore Design Award (SDA) held
in October 2004, we introduced a new category – ‘Design for Business
Effectiveness’ – to illustrate design’s value-added contribution to the
bottom line and market growth of businesses. The new category
attracted 22 entries, with PSA Marine clinching the SDA 2004 ‘Certificate
of Distinction’ for its new Tug Boat range ‘Z-Tech’. We assisted over 20
companies in design projects while reaching over 500 companies through
customised design workshops.
Intellectual Property
In today’s knowledge-driven economy, intangible assets such as brands,
designs, technologies, franchises and licences can play a bigger role in
generating and sustaining the financial performance of businesses.
Recognising the importance of Intellectual Property (IP) in generating
and sustaining the financial performance of businesses, IE Singapore
launched its ‘IP for Internationalisation’ programme. Our aim is to help
more than 500 companies over the next three years to develop
IP strategies in line with their internationalisation roadmap.
Branding
Building on the success of the first Global Brand Forum in 2003,
IE Singapore once again backed this premier branding conference in
August 2004. The forum, which further reinforced Singapore’s
position as a global thought leader in branding, drew high calibre
speakers such as Minister Mentor Lee Kuan Yew, Rudy Giuliani, Francis
Ford Coppola, Chew Choon Seng, Warren Bennis, Al Ries, Dr Kiran
Bedi and Geoffrey Frost.
The year 2004 also saw the third run of the Singapore Brand Award,
which recognises the 15 most valuable Singapore brands. The total
value of these brands went up from S$8 billion in 2003 to S$8.13 billion
in 2004.
To help Singapore-based companies incorporate a branding strategy
into their business model, IE Singapore collaborated with SPRING
Singapore and the Cabability Development Group in the Ministry of
Trade and Industry to launch BrandPact. The initiative aims at meeting
the wide spectrum of brand development needs of local enterprises.
Incentives Management’s Schemes to Help Companies
Formed in October 2003 to serve customers better, the Incentive
Management Division (IMD) administers various incentive schemes
including the Double Tax Deduction for Market Development, the
Overseas Enterprise Incentive and the Regionalisation Finance Scheme.
These incentives have been instrumental in assisting internationalising
companies in their search for new markers or in consolidating existing
ones with new products or services offerings. The division works closely
with the account management teams in the Corporate and Enterprise
groups in IE Singapore to process incentive applications submitted by
companies and to ensure the incentives remain relevant to the business
community’s needs.
[ Operational Review – Capital Enabling Group ]
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Capital Enabling for Business Globalisation
Growth and international expansion can be costly. Firms who wish to
bring their businesses overseas need to understand their options on
accessing funds and to do this at the right cost and right time.
To assist Singapore-based companies seize global opportunities while
managing financial risks successfully, IE Singapore has developed a
series of initiatives and programmes to help them access capital, build
up their financial management capabilities and develop their international
financial strategies.
The initiatives and programmes are backed by our network of contacts
with financial institutions and investment communities, and various
platforms to meet and interact with financiers, industry experts and
professionals. IE Singapore also runs a series of seminars and workshops
to equip companies with the necessary skills to develop viable financial
strategies for their global expansion. Events organised during 2004
included ‘Mergers & Acquisitions in Indonesia’, ‘Credit Insurance and
Debt Recovery’, ‘Islamic Funding Instruments for Corporates’,
‘Government Assisted Financing Programmes’ and ‘Financing Tools for
Internationalisation’. A total of 650 companies attended and benefited
from these learning sessions.
In July 2004, IE Singapore launched a financing handbook entitled
‘Financing Internationalisation – Growth Strategies for Successful
Companies’ to introduce and explain to entrepreneurs the various types
of financing instruments available for overseas ventures. The publication
was well-received by the market, with positive feedback from
entrepreneurs. In order to reach out to a larger audience, IE Singapore
plans to produce an enhanced Chinese edition that will include new
and updated articles in the third quarter of 2005.
To provide companies with an alternative channel of financing through
the use of credit insurance, IE Singapore, together with SPRING Singapore
in August 2004, launched the second tranche of Loan Insurance Scheme
(LIS II). The scope of LIS II was enlarged to cater to the financing needs
of internationalising companies who experience difficulties in accessing
working capital financing for their overseas operations. LIS II will offer
at least S$400 million worth of loans to both SMEs and internationalising
Singapore-based companies.
In addition, IE Singapore also administers the Regionalisation Finance
Scheme (RFS), a fixed-cost financing programme that assists Singapore-
based enterprises in setting up operations overseas through the acquisition
of fixed assets. In September 2004, key features of RFS were enhanced
to allow financing of all kinds of fixed assets and the scheme was
opened to listed companies and Singapore-registered companies, both
foreign and locally-owned. IE Singapore has been working closely with
various financial institutions and associations to inform companies of
the scheme and its enhanced features. These efforts have resulted in
an increase in the take-up rate, with the amount of approved loans
almost doubling compared to 2003.
The SME ACCESS Loan was launched in April 2005 to further address
the difficulties faced by the SMEs, in particular those with limited track
record, little collateral and those seeking loans for internationalisation.
Jointly developed with SPRING Singapore, it is a new government-
backed financing scheme that provides companies access to financing
by raising funds from the debt capital market.
IE Singapore prides itself on having a passionate team of
professionals... these talented individuals are driven by the desire
to help Singapore realise a robust external economy.
Goh Hui Wan, Human Resource, IE Singapore
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Delicious Fond Flavours • Stunning Fashion • Top-notch Education
• Wordclass Healthcare • Quality Logistics Services... some of
the many areas IE Singapore has its eye on.
Being a professional service organisation, our core asset is talent.
Here at IE Singapore, we are proud to have a professional pool
of international employees who are driven by passion, knowledge,
experience and a strong desire to realise our vision of establishing
a robust external economy for Singapore.Nigel Phang, Director, Human Resource, IE Singapore
“
”
BACK ROW (from left to right): Ho Wai Yin, Director, Planning, Ong Siew Hwee, Assistant Director, Finance, Mark Hong, Acting Director, Corporate Events and Resources,
Lilian Choo, Assistant Director, Internal Audit and Fong Wai Leng, Assistant Director, Infocomm and Security Management
FRONT ROW (from left to right): Shona Tan, Deputy Director, Corporate Communications and Nigel Phang, Director, Human Resource
IE SingaporeCorporate Resources
[ Operational Review – Corporate Services Group ]
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Building Internal Strength Through Human Resource
Recruitment and Development of Talents
We have continued to recruit people with relevant market knowledge
and industry expertise to accelerate our efforts in helping Singapore-
based companies internationalise successfully. Currently, such experienced
hires make up about 40 per cent of our staff profile. We have embarked
on a multi-pronged approach to reach out to the best talents. Other
than the traditional source of advertising, we have received positive
response to our in-house staff referral scheme, which helped fill 15 per
cent of our current vacancies. We are also working actively with the
career development office of various universities to attract graduates
and mid-career MBA students.
To enable staff to deepen their industry knowledge, we provide regular
industry attachments with companies in the private sector. We have
also developed a structured induction programme to equip new staff
with basic product knowledge of IE Singapore.
Training and Talent Retention
In addressing the training and development needs of staff, we have
developed a structured training framework for staff who work closely
with private-sector companies. Three new modules of Account
Management and Value Creation training were held to equip officers
with skills to deepen their level of engagement with companies. We
have also developed an Online Training and Learning Management
System to facilitate a more effective and efficient learning needs analysis
and follow-through. The system enables staff to self-manage and have
greater accountability of their training and development journey. To
sustain our efforts in the retention of talents, we are also looking at
enhancing our performance appraisal system and career development
framework for staff.
Process Review and Improvement
For our staff in the overseas centres, we have streamlined and
standardised various work processes such as employment procedures,
leave administration and salary review system. We have also continued
to leverage on technology to improve work processes. During the year
in review, we launched the e-payslip system and enhanced our existing
e-leave system.
Other Retention Initiatives
In 2004, we worked towards creating a balanced and healthy work
environment for our staff. IE Singapore was awarded the Singapore
Health Award (Silver) by the Health Promotion Board and The Sporting
Singapore Inspiration Award by the Singapore Sports Council. To build
internal capability and pursue an ongoing journey to benchmark with
the industry standard, 81 per cent of IE Singapore’s staff participated
in an Organisation Climate Survey to determine our engagement level.
Our People Philosophy
As we deepen our transformation from the former Singapore Trade
Development Board to International Enterprise Singapore, our main
aim is to develop and empower our human assets. In support of our
vision to become an expert agency in firm-level growth, market
intelligence and internationalisation strategies, our Human Resource
(HR) mission is to enable IE Singapore to develop and retain competent
and passionate employees.
[ Operational Review – Corporate Events and Resources Group ]
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Providing Strong Support Through Events Management
During the year in review, IE Singapore organised more than 100
overseas missions, 28 foreign and local fairs, and 98 conferences and
seminars that reached out to over 7,000 companies.
As IE Singapore’s in-house event management arm, Events Management
Division (EMD) helped to organise some of the overseas trade shows
and ministerial missions, as well as local conferences. These ministerial
and business missions and fairs were to traditional markets such as
Northeast Asia, Southeast Asia, the Americas and Europe, and non-
traditional markets in South Asia and the Middle East.
Together with the Ministry of Trade and Industry, IE Singapore organised
the ASEAN Economic Ministers’ Meeting in April 2004 and the China-
ASEAN Expo in Nanning, China in November 2004, where Singapore
had the biggest National Pavilion among the ASEAN countries. EMD
also participated in key trade shows such as SIAL in France in October
2004 and the Consumer Electronics Show in Las Vegas in January 2005.
We held our flagship conference, the International Enterprise Forum,
in February 2005, focusing on value creation for firms with an
internationalisation outlook.
EMD worked closely with Singapore’s trade associations to assist SMEs
with their internationalisation efforts through the International Marketing
Assistance Programme (IMAP). In 2004, the trade associations made
use of the IMAP to carry out a record number of 100 international fairs
and missions. IMAP has also supported a number of National Pavilions
in shows held in Singapore, including the Food & Hotel Asia in April
CommunicAsia in June 2004.
[ Operational Review – Planning Group ]
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Knowledge Management to Create a Dynamic Organisation
The knowledge possessed by IE Singapore staff is an important tool in
assisting the effective internationalisation of Singapore-based companies.
To encourage expertise building and knowledge sharing, IE Singapore
has developed an in-house Knowledge Management (KM) system with
a dedicated portal to capture market and industry intelligence.
Through the efforts of our staff, more than 100 documents on various
markets, industries and capabilities have been created and captured in
the portal. Many of these documents contain officers’ in-depth ground-
level insights into international business environments.
To promote greater knowledge sharing, lunch sessions featuring
presentations of KM documents were introduced in the year of review.
These sessions provided staff with the opportunity to listen first-hand
to the authors’ experiences and accelerate knowledge acquisition in an
informal setting. Feedback has been very positive and these sessions
are now organised on a regular basis.
Teo Moh Gin, Managing Director and Francis Tay, Marketing Director, Global Business Insights Pte LtdGlobal BusinessInsights Pte Ltd
[ Global Business Insights Pte Ltd ]
Helping Companies Make In-roads to Global Markets
Global Business Insights Pte Ltd (GBI) provides end-to-end in-market
solutions for Singapore-based companies who are at various stages of
internationalisation. For companies at their initial stage of market
expansion, we offer temporary office space, business leads and marketing
support services. GBI’s in-depth market strategy services also help
companies make important decisions from market entry options to
partnership selection.
Over the years, GBI has facilitated the market entry needs of more
than 150 Singapore-based companies into China, India, Japan,
Southeast Asia, United Arab Emirates (UAE), US, Latin America
and Europe. We have a wide network of Business Support Offices
(BSOs) in China (Beijing, Shanghai, Guangzhou, Chengdu), Germany
(Frankfurt), the UK (London), Japan (Tokyo), India (Chennai), UAE
(Dubai), Vietnam (Ho Chi Minh City), US (New York) and Mexico
City. Many of these offices also provide business support
services that include ‘plug-and-play’ Internet access
and meeting rooms.
GBI plans to expand its network of BSOs to provide
Singapore-based companies with more access to
markets in Thailand, Qatar, Brazil and South Korea.
Through our services, our clients enjoy a reduction
in costs when expanding into a market, make new
business contacts and gain access to an increased
number of opportunities across a wide range of
industries. GBI has helped companies in sectors
such as electronics and precision engineering,
infocomms technology, infrastructure services,
hospitality, education, food, healthcare, distribution,
logistics and trading.
We have also introduced new initiatives such as our in-market marketing
support service to help bridge the language and distance gap faced by
many internationalising companies.
For more information, please visit www.gb-insights.com
[ Steering Committees ]
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Network China
ChairmanMr Ng Ser MiangChairmanTIBS International Pte Ltd
AdvisorDr John ChenChairmanMatex International Limited GroupMember of Parliament for Hong Kah GRC
AdvisorMr Lim Kee-MingChairmanLim Teck Lee Group of Companies
AdvisorMr Kwek Leng JooManaging DirectorCity Developments Limited
Vice-Chairman (Food & Beverage)Regional Representative (Fujian / Fuzhou)Mr Sam Goi S.H.Executive ChairmanTee Yih Jia Food Manufacturing Pte Ltd
Vice-Chairman (Investment Holding)Mr Phua Tin HowPresident & CEOTransil Corporation Pte Ltd
Vice-Chairman (Education)Mr Er Kwong WahExecutive DirectorEast Asia School of Business
Vice-Chairman (Retail)Mr Tan Kian ChewChief Executive OfficerNTUC Fairprice Co-operative Ltd
Member (Real Estate, Infrastructure, Engineering)Regional Representative (Shaanxi / Xi’an)Mr Khor Poh HwaSenior AdvisorCPG Corporation Pte Ltd
Member (Electronics, Industrial Machinery)Regional Representative (Jiangsu / Nantong)Mr Leslie K C LimChief Executive OfficerKinergy Pte Ltd
Member (Trading & Distribution)Regional Representative (Shandong)Mr Ee Tai TingChief Executive OfficerFHTK Holdings Ltd
Member (Real Estate, Infrastructure, Engineering)Regional Representative (Liaoning / Shenyang)Mr Koh Tiak ChyeGroup Managing Director & Chief Executive OfficerKoh Brothers Group Limited
Member (Real Estate, Infrastructure, Engineering)Regional Representative (Jiangsu / Nanjing)Mr Zhong Sheng JianPresident & Chief Executive OfficerYanlord Investment Pte Ltd
Member (Investment Holding & Trading)Regional Representative (Chongqing)Mr Ng Kar CheongChairmanSino Agri-Trade Pte Ltd
Alternate by:
Mr Clement TangDirectorSino Agri-Trade Pte Ltd
Member (Food & Beverage)Regional Representative (Jiangsu / Changzhou)Mr David TeoChairman & Managing DirectorSuper Coffeemix Manufacturing Ltd
Member (Textile)Regional Representative (Guangdong)Mr Patrick K.K. LeeExecutive ChairmanSing Lun Holdings Limited
Member (Logistics)Regional Representative (Tianjin)Mr Robert YapChairman & Chief Executive OfficerYCH Group
Member (Food & Beverage)Mr Chew Kah ChuanManaging DirectorKhong Guan Biscuit Factory (S) Pte Ltd
Member (Education)Dr Hong HaiDeanNanyang Business SchoolNanyang Technological University
Member (Education)Mr Lai Seck KhuiPresident & Chief Executive OfficerTimes Publishing Ltd
Member (Media)Mr Lim Jim KoonEditorLianhe Zaobao
Member (Trading & Distribution)Mr Lim Fang CheeChairman & Managing DirectorNison Industrial and Commercial Pte Ltd
Member (Professional Services)Mr Quek Cher TeckExecutive Vice PresidentGreater China, InternationalUnited Overseas Bank Group
Member (Real Estate, Infrastructure, Engineering)Col (Ret) Tan Hong HuatSenior Vice President & Project Director (China)SembCorp Industries Ltd
Member (Info Comms Technology)Mr Wong Sing LamChairman & Chief Executive OfficerIPACS Asia Pte Ltd
Member (Multi-Industry)Mr Tang Kin FeiGroup President & Chief Executive OfficerSembCorp Industries Ltd
Member (Professional Services)Mr David TanHead (Listings) & Senior Vice PresidentSingapore Exchange Ltd
Member (Chambers / Associations)Mr Koh Juan KiatExecutive Director
IE Singapore is proudto partner many keyindividuals from both theprivate and public sectors.To all of you, our sincerestappreciation for yourvaluable contributions.
MemberMs Quek Bee LanSpecial Assistant to Chief ExecutiveHead (International Relations)Singapore Tourism Board
MemberMr Chua Thai KeongDirectorNortheast Asia DirectorateMinistry of Foreign Affairs
MemberMr Alphonsus ChiaSenior DirectorInternational Business DevelopmentMinistry of Trade & Industry
MemberMr Wong Peng WaiDirectorInternational Operations (Asia Pacific)Economic Development Board
MemberMr Tham Poh CheongDirectorChina Strategic RelationsInternational Enterprise Singapore
Network India
ChairmanMr Sat Pal KhattarConsultantKhattar Holdings Pte Ltd
MemberMr Vijay IyengarManaging DirectorAgrocorp International Pte Ltd
MemberMs Chong Siak ChingPresident & Chief Executive OfficerAscendas Pte Ltd
MemberMr Anil ChawlaChief Executive Officer (India & SEA)GE (India)
MemberMs Kay Kuok Oon KwongDirectorKuok (Singapore) Limited
MemberMr S Chandra DasManaging directorNur Investments & Trading Pte Ltd
MemberDr William ChongManaging DirectorPacific Healthcare Holdings
MemberMr Gopinath PillaiExecutive ChairmanSavant Infocomm Pte Ltd
MemberMr Govindasamy SupramaniamManaging DirectorS.E.A. Hydropower Pte Ltd
MemberMr Karmjit SinghChief Operating OfficerSingapore Airport Terminal Services Ltd
MemberMr Koh Juan KiatExecutive DirectorSingapore Business Federation
MemberMr M RajaramChairmanSingapore Indian Chamber of Commerce & Industry
MemberMr Seah Moon MingPresidentSingapore Technologies Electronics Limited
MemberMr Lee Boon HuatHead, Global Markets (South East Asia)Standard Chartered Bank
MemberMr Girija PandeHead & Regional Director (Asia Pacific)Tata Consultancy Services Asia Pacific Pte Ltd
MemberMr Karan Singh ThakralExecutive DirectorThakral Group of Companies
MemberMr Lim Ban HoeRegional Director (South Asia, Middle East & Africa)International Enterprise Singapore
Network Indonesia
ChairmanMr Tony ChewExecutive ChairmanAsia Resource Corporation Pte Ltd
Vice ChairmanMr Lee Theng KiatPresident & Chief Executive OfficerSingapore Technologies Telemedia Pte Ltd
Vice ChairmanMr Philip EngDeputy ChairmanMCL Land Ltd
MemberMr Barry DeskerHonorary Adviser to Minister for Trade& Industry
MemberMs Low Sin LengExecutive ChairmanSembCorp Parks Management Pte Ltd
MemberMr Peter TanChief Executive OfficerSembawang Kimtrans Ltd
MemberMr Wong Fong FuiChairman & Chief Executive OfficerBoustead Singapore Ltd
MemberMs Angeline SupartoPartnerAngeline Suparto & Company
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MemberMr Zulkifli BaharudinManaging DirectorGlobal Business Integrators Pte Ltd
MemberMr Charles WongManaging DirectorCharles & Keith (Singapore)
MemberMs June RusdonChief Financial OfficerLearning Vision International Pte Ltd
MemberMr Kankipati Rajan RajuManaging Director & Head of South & Southeast AsiaDBS Bank
MemberMr Larry LamChairmanPortek International Ltd
MemberMr A ShekharSenior Managing Director & Board MemberOlam International Ltd
MemberMr George HuangChairmanSingapore Food Industries
MemberMr Robert YapChairman & Chief Executive OfficerYCH Group Pte Ltd
MemberMr Leslie CheongDirector, Food Supply & Technology DepartmentAgri-Food and Veterinary Authority (AVA)
MemberDr Leo SuryadinataSenior Research FellowInstitute of Southeast Asian Studies (ISEAS)
MemberMr Lam Kwok ChongChief Executive OfficerKeppel Telecommunications & Transportation Ltd
MemberMr Seah Kian PengDeputy Chief Executive Officer & Chief Operating OfficerNTUC Fairprice Co-operative Ltd
MemberMr Ashish MittalHead of Sales (South East Asia)Standard Chartered Bank
MemberMr Kevin LeongActing Assistant Chief Executive, International GroupSingapore Tourism Board
MemberMs Thong Pao-YiDirector (International Policies)Economic Development Board
MemberMr Yew Sung PeiRegional Director, International Operations(Southeast Asia)International Enterprise Singapore
Singapore Education InternationalExco Members
PresidentDr Chin Kon YuenChairman & Chief Executive OfficerTMC International Holdings Ltd
Vice-PresidentMr Hee Joh LiangExecutive DirectorPopular Holdings LimitedChief Executive OfficerPopular e-Learning Holdings Pte Ltd
Immediate Past PresidentMr Er Kwong WahExecutive DirectorEast Asia School of Business
Honorary SecretaryMr Lemmy TeoExecutive Director / PrincipalKLC School of EducationAssistant SecretaryMr J Anton RavindranGroup Chief Executive Officer and Co-FounderGenovate Pte Ltd
TreasurerMr James TanExecutive DirectorSingapore Training and Development Association
Assistant TreasurerMr Tan Cheng HuaManaging DirectoriT21 (International)
Honorary AuditorDr Ng Cheng SiongChief Executive OfficerSingapore Polytechnic International
Honorary AuditorDr Ng Kim SoonChief Executive OfficerChung Sing Jituan Mgt Services Pte LtdWashington Group of Schools
MemberDr Michael TengChief Executive OfficerInformatics Holdings Ltd
MemberDr Michael CopeDeputy, Chief Learning OfficerSingapore Institute of Commerce
MemberMrs Ng Gim ChooManaging DirectorEton House International School Pte Ltd
MemberAssoc Professor Chan Yoke KaiPresident & Chief Operating OfficerAEC Education Group Pte Ltd
MemberMr Neil MaynardPro-Vice-President – InternationalLASALLE-SIA College of the Arts
[ Steering Committees ]
[ Success Stories ]
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d Bangkok • Beijing • Charleston • Chengdu • ChennaiChongqing • Colombo • Dalian • Doha • Dubai • FrankfurtGuangzhou • Ho Chi Minh City • Hong Kong • JakartaKuala Lumpur • London • Manila • Mexico City • MoscowMumbai • New Delhi • New York • Pekanbaru • QingdaoSan Francisco • Santiago • Sao Paulo • Seoul • ShanghaiSingapore • Stockholm • Sydney • Taipei • Tokyo • Xi’anWashington DC • Yangon • Bangkok • Beijing • CharlestonChengdu • Chennai • Chongqing • Colombo DalianDoha • Dubai • Frankfurt • Guangzhou • Ho Chi Minh CityHong Kong • Jakarta • Kuala Lumpur • London • ManilaMexico City • Moscow • Mumbai • New Delhi • New YorkPekanbaru • Qingdao • San Francisco • SantiagoSao Paulo • Seoul • Shanghai • Singapore • StockholmSydney • Taipei • Tokyo • Xi’an • Washington DC • Yangon
Meet our officers and the companies that have ventured abroad...
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d Bangkok • Beijing • Charleston • Chengdu • ChennaiChongqing • Colombo • Dalian • Doha • Dubai • FrankfurtGuangzhou • Ho Chi Minh City • Hong Kong • JakartaKuala Lumpur • London • Manila • Mexico City • MoscowMumbai • New Delhi • New York • Pekanbaru • QingdaoSan Francisco • Santiago • Sao Paulo • Seoul • ShanghaiSingapore • Stockholm • Sydney • Taipei • Tokyo • Xi’anWashington DC • Yangon • Bangkok • Beijing • CharlestonChengdu • Chennai • Chongqing • Colombo DalianDoha • Dubai • Frankfurt • Guangzhou • Ho Chi Minh CityHong Kong • Jakarta • Kuala Lumpur • London • ManilaMexico City • Moscow • Mumbai • New Delhi • New YorkPekanbaru • Qingdao • San Francisco • SantiagoSao Paulo • Seoul • Shanghai • Singapore • StockholmSydney • Taipei • Tokyo • Xi’an • Washington DC • Yangon
[ Food for Medicine ]
Cassia Foods Pte Ltd is a Singapore food company that started operations
in 2002 with the aim to specialise in R&D and the manufacture of
medical foods with specific dietary functions. The company has produced
two innovative products that qualify as “world’s-firsts” The “diabetic”
noodle Diabetrim has been clinically tested in Changi General Hospital
to show significantly reduced glycemic effects on diabetes patients
while the Cassia Diet Plan is marketed as a revolutionary weight
management dietary plan that is all food and no drugs.
Dr Lim Heok Seng, Senior Consultant and Director, Diabetes Centre,
and Dr Praveen Shankar, Registrar, Department of Medicine, at Changi
General Hospital studied the effect of the Diabetrim noodle on 30
diabetic patients, and found that it resulted in “after-meal” blood sugar
levels that were lower than when regular instant noodles were consumed.
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Since our exploration of the overseas markets, we have been
very grateful for the support IE Singapore has extended to us.
As a small and new company, it is critical for us to have access
to IE Singapore’s resources for information on foreign trade
and markets, statistics and contact opportunities with
foreign businesses.Dr Choy Mei Yee, Director, Cassia Foods Pte Ltd
(from left to right): Tee Horng Yun, Account Manager, Enterprise Services Unit, IE Singapore, Dr Lim Heok Seng, Senior Consultant and Director, Diabetes Centre, Changi General
Hospital and Dr Choy Mei Yee, Director, Cassia Foods Pte LtdCassia Foods Pte Ltd
[ Connecting with the World ]
By leveraging on IE Singapore’s network, we are able to shorten
our learning curve, especially in countries or regions where we
may not have strong in-roads yet. We certainly look forward to
more collaborative schemes and plans from IE Singapore as both
organisations seek to establish Singapore’s presence worldwide.Lau Thiam Beng, President, ST Electronics (Info-Comm Systems) Pte Ltd
Singapore Technologies Electronics Limited specialises in the design,
development and integration of advanced electronics systems. Its
subsidiary, ST Electronics (Info-Comm Systems) Pte Ltd, formerly known
as CET Technologies, works from Asia right across to the United States,
with a wide network of strategic partners to deliver the best solutions
and services to its customers worldwide.
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Lau Thiam Beng, President, ST Electronics (Info-Comm Systems) and Lisa Ng, Account Manager, Corporate Group, IE SingaporeST Electronics(Info-Comm Systems)
Pte Ltd
[ Taking Off to New Challenges ]
The Singapore Airport Consortium (SAC), formed through the
initiative of IE Singapore under its iPartners programme, brings
together 14 local-based companies to forge a formidable alliance
of businesses involved in every aspect of airport investment and
airport-related products and services. Such an alliance helps SAC
member companies compete for overseas contracts more
effectively compared to individual efforts. We at CHAMPS are
proud to be the anchor company in this alliance.James Yip, General Manager, Changi Airport Managers & Partners (Singapore) Pte Ltd (CHAMPS)
The Singapore Airport Consortium was formed with the aim to combine
their experiences and expertise to jointly offer complete suites of
products, services and solutions to airports beyond Singapore.
Anchor company:
Changi Airport Managers & Partners Pte Ltd.
Members:
CNA Group Ltd, CPG Consultants Pte Ltd, Inter-Roller Engineering
Limited, Jurong Consultants Pte Ltd, Keppel FMO Pte Ltd, NCS Pte Ltd,
SembCorp Engineers & Constructors Pte Ltd, ST Electronics (Info-
Software Systems) Pte Ltd, Singapore Airport Terminal Services Limited
(SATS), ST-Airport Services Pte Ltd, WEC Engineers and Constructors
Pte Ltd, SIA Engineering Company Limited and Singapore Technologies
Engineering Ltd.
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Trina Wong, Account Manager, Corporate Group, IE Singapore and James Yip, General Manager, Changi Airport Managers & Partners (Singapore) Pte Ltd (CHAMPS)Singapore AirportConsortium
[ Reaching New Heights ]
IE Singapore has been a close business and strategic partner in
our internationalisation journey. During the initial stage of setting
up our rice mill facility in Singapore, IE Singapore supported our
development efforts under the Innovation Development Scheme.
In order to tap the growing opportunities in China, our company
established the first marketing office in Beijing with support from
IE Singapore and now, we are currently in the process of setting
up our second marketing office in Amsterdam, Netherlands.
Over the years, we have also benefitted from the relevant business
leads referral and facilitation work from IE Singapore which has
resulted in increase overseas sales for our company.Ng Leong Thiam, Chairman and Managing Director, Ng Nam Bee Marketing Pte Ltd
A homegrown enterprise trading in sugar, rice and related food products,
Ng Nam Bee Marketing Pte Ltd has aggressively expanded its operations
into Southeast Asia, China and Europe under various assistance
programmes provided by IE Singapore.
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Ng Leong Thiam, Chairman and Managing Director, Ng Nam Bee Group and Kenneth Teo, Account Manager, Corporate Group, IE SingaporeNg Nam BeeMarketing Pte Ltd
For a downlodable version of our Annual Report 2004 / 05, go towww.iesingapore.com
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