expanding your business?...[ keeping a pulse on healthcare ] ie singapore has supported us with...

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.

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“

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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.

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“

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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.

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“

”

(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

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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 ]

”

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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

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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 ]

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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

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[ 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


• 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


• 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)


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)


Kathleen HongRegional Director (Northern China)

Counsellor (Commercial)

Law Chung MingCentre Director

First Secretary (Commercial)

Gina KekCentre Director


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)


Yap Shih ChiaCentre Director

Vice-Consul (Commercial)

NEW DELHIAlan TanCentre Director


Left to Right

COLOMBOBodhiratne WanniarachchiCentre Director

DUBAIRaheed NargundArea Director

Consul (Commercial)

Keith KohCentre Director


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


MANILAJason LeongCentre Director

Second Secretary (Commercial)

PEKANBARUFlorence LohCentre Director


Left to Right

BANGKOKLena NgCentre Director


HO CHI MINH CITYLeslie ChongCentre Director

Consul (Commercial)

JAKARTALim Wei SiongCentre Director


YANGONSerge Pun (not pictured)


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)


Chung Tze KhinCentre Director


TAIPEIJoyce HsuCentre Secretary

SEOULChristopher ChenCentre Director


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)


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


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.


[ 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


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.


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.

AR_63

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.


[ 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


AR_66

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 ]

AR_67

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.



AR_69

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

AR_74

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 ]

AR_76

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 ]

AR_77

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 ]

AR_80

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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Meet our officers and the companies that have ventured abroad...

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[ 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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“

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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

Looking for a partner with a global vision who can help you grow and expand your business?

Visit us at www.iesingapore.com for more information.

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