contents · 2 contents 01 ie x 2015/2016 04 chairman & ceo’s message 06 ie x trade with the...

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CONTENTS

01 IE x 2015/2016 04 CHAIRMAN & CEO’S MESSAGE 06 IE x TRADE WITH THE WORLD 10 IE x ASSISTANCE FOR COMPANIES 14 IE x GOING GLOBAL 25 IE x GROOMING GLOBAL TALENT 32 IE x THE WORLD 40 IE x CORPORATE SOCIAL RESPONSIBILITY 42 IE x TEAM

THE MULTIPLIER EFFECT // IE SINGAPORE ANNUAL REPORT 2015/2016 // 1

IE

2015/2016

2

S$884.1BTOTAL MERCHANDISE TRADE FOR 2015:

S$48.8B DIRECT INVESTMENT ABROAD:

S$970BTOTAL OFFSHORE TRADE VALUE FOR 2015:

IE

2015/2016

01: ECONOMIC INDICATORS

02: IE ASSISTED 34,000 COMPANIES THIS YEAR

S$58.6MIN GRANTS

>80%ARE SMEs

S$769MIN TRADE AND FINANCING LOANS SECURED THROUGH OUR RISK SHARING SCHEMES

S$3.59BINSURED THROUGH OUR SCHEMES

03: BUILDING A PIPELINE OF GLOBAL-READY PROFESSIONALS

2,500 LOCAL UNDERGRADS

GROOMING YOUNG TALENT FOR GLOBAL ROLES:

TO DATE HAVE GAINED GLOBAL EXPOSURE THROUGH OUR ACADEMIC PROGRAMMES AND SCHOLARSHIPS

525 MIDDLE AND SENIOR EXECUTIVES

PREPARING PMEs FOR GLOBAL ROLES:

TO DATE HAVE GAINED MARKET KNOWLEDGE AND INTERNATIONAL MANAGEMENT COMPETENCIES THROUGH OUR PROGRAMMES

15,200 EMPLOYED

CREATING JOBS:

UNDER THE TRADE SECTOR IN SINGAPORE


DEVELOPING SINGAPORE AS A GLOBAL TRADING HUB

Trade is the lifeblood of our economy. IE continues to develop Singapore as an attractive place for trade, and as the leading hub for global commodities trading in Asia.

01:

GROWING OUR COMPANIES OVERSEAS

Companies that expand to new markets overseas bring revenue back to our economy through overseas sales and investments, and create good jobs for our people.

02:

GO GLOBAL WITH IE

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CHAIRMAN & CEO’S MESSAGE


2015 was a challenging year for the global economy, with global growth slowing to 2.4%. As a result of sluggish global oil prices exacerbated by slow economic growth, total merchandise trade for Singapore also decreased by 9.5% in 2015, reaching S$884.1 billion in 2015.

The low oil prices in 2015 led to a nominal 33.4% year-on-year decline in oil exports. However, in terms of volume, overall exports are still on an upward trend with shipments of oil products increasing by 6.2%. Non-oil exports also expanded by 1.0% in 2015.

Amid the challenges posed by today’s uncertain economic climate, it is crucial for Singapore companies to ensure the sustainability of their businesses through internationalisation. By going overseas, companies can tap new opportunities, access new resources, and enjoy greater economies of scale.

IE Singapore continues to build the resilience of Singapore’s external economy by acting as an overseas multiplier for Singapore companies,

and enhancing Singapore’s status as a global trading hub. In 2015, we helped 34,000 companies through our Market Readiness Assistance and Global Company Partnership programmes, a 21% increase from 2014.

The future in front of us still looks uncertain. With rapid flux in the global environment, technological change, and slowing growth of our labour force, we are facing many challenges and opportunities ahead. The Committee on the Future Economy (CFE) seeks to address these challenges by developing economic strategies to position Singapore well for the future. IE is playing a proactive role in these strategies on the internationalisation front, ensuring that we seize opportunities in key growth sectors, deepen our presence in familiar markets, capture value from developed ones, and develop a first-mover advantage in emerging markets. IE will help start-ups internationalise in a more structured and efficient

way, keeping in mind sustainability and holistic development. We will also accelerate their overseas growth by using our market knowledge and connections to help them navigate new and challenging markets, and create meaningful relationships with local partners who can mentor and guide them.

To facilitate the creation of good jobs for Singaporeans overseas, we will work closely with companies expanding overseas. This will ensure that experienced Singaporean Professionals, Managers and Executives (PMEs) who are receptive to overseas postings will be matched to good positions abroad. We are working with MOM and WDA on measures to support this effort.

By supporting and growing an economy of value, Singapore can ensure our economic resilience in the face of current global challenges. n

IE SINGAPORE IS THE GOVERNMENT AGENCY THAT DRIVES SINGAPORE’S EXTERNAL ECONOMY, WITH THE VISION OF CREATING A THRIVING BUSINESS HUB IN SINGAPORE WITH OUR VERY OWN HIGH GROWTH COMPANIES AND GLOBAL TRADERS.

SEAH MOON MING CHAIRMAN

LEE ARK BOON CHIEF EXECUTIVE OFFICER

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SINGAPORE’S TRADE WITH THE REST OF THE WORLD HAS ALWAYS BEEN THE BACKBONE OF OUR ECONOMY. TODAY, TRADE ACCOUNTS FOR 320% OF OUR NATION’S GDP.

IE

TRADE WITH THE WORLD


Figures in USD

2005 $715.7B

2006 $810.5B

2010 $902.1B

2007 $846.6B

2011 $974.4B

2008 $927.7B

2012 $984.9B

2013 $980.2B

2014 $982.7B

2009 $747.4B

2015 $884.1B

TOTAL MERCHANDISE TRADE

2005 $382.5B

2006 $431.6B

2010 $478.8B

2007 $450.6B

2011 $514.7B

2008 $476.8B

2012 $510.3B

2013 $513.4B

2014 $518.9B

2009 $391.1B

2015 $476.3B

TOTAL EXPORT OF GOODS

TOTAL OFFSHORE TRADE VALUE

2005 $315.6B

2006 $398.1B

2010 $701.5B

2007 $485.6B

2011 $1,037B

2008 $672.9B

2012 $1,175.5B

2013 $1,338.7B

2014 $1,357B

2009 $483.6B

2015 $970B

Figures in SGD

Figures in SGD

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IE

TRADE WITH THE WORLD

2005 $77.3B

2006 $94.1B

2010 $137.5B

2007 $111.8B

2011 $149.1B

2008 $126.9B

2012 $159.1B

2013 $171.8B

2014 $177.9B

2009 $119B

2015 $191.9B

EXPORT OF SERVICES

2004 $179.5B

2005 $200.4B

2009 $370B

2006 $245.3B

2010 $425.2B

2007 $316.1B

2011 $446.7B

2012 $493.1B

2013 $531.7B

2008 $311.3B

2014 $580.5B

DIRECT INVESTMENT BOARD (DIA)

Figures in SGD

Figures in SGD


SINGAPORE AS A GLOBAL TRADING HUBIE continues to deepen Singapore’s status as a global trading hub, while continuing to work closely with the trading community in Singapore.

406 GLOBAL TRADING COMPANIESWITH SIGNIFICANT PRESENCE IN SINGAPORE

S$13.18BTOTAL LOCAL BUSINESS SPENDING BY GLOBAL TRADING FIRMS

4,444 TRADE PROFESSIONALSIN SINGAPORE

15,200EMPLOYED UNDER THE TRADE SECTOR IN 393 SINGAPORE COMPANIES

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IE

ASSISTANCE FOR SINGAPORE COMPANIES


WWW.IESINGAPORE.GOV.SG/BUDGET2015

BUDGET 2015 ENHANCEMENTS TO IE ASSISTANCE PROGRAMMES

01: MORE HELP FOR SMEs TO GO OVERSEAS

ENHANCEDGLOBAL COMPANY PARTNERSHIP (GCP) GRANT

ENHANCEDMARKET READINESS ASSISTANCE (MRA) GRANT

02: ADDRESS MANPOWER NEEDS OF SINGAPORE COMPANIES AS THEY INTERNATIONALISE

ENHANCEDYOUNG TALENT PROGRAMME (YTP) MARKET IMMERSION

ENHANCEDDOUBLE TAX DEDUCTION (DTD) FOR INTERNATIONALISATION

03: ACCELERATE OVERSEAS GROWTH OF SINGAPORE COMPANIES

ENHANCEDINTERNATIONALISATION FINANCE SCHEME (IFS)

70%

INCREASED FUNDING SUPPORT BY UP TO

EXTENDED TO STUDENTS FROMPOLYTECHNICS AND INSTITUTES OF TECHNICAL EDUCATION

EXTENDED TO FINANCE

MERGERS & ACQUISITIONS (M&A)

NEWINTERNATIONAL GROWTH SCHEME (IGS)

70%

INCREASED FUNDING SUPPORT > UP TO

200TAX DEDUCTION ON QUALIFYING MANPOWER EXPENSES

%

10%

CONCESSIONARY TAX RATE OF

2015 IN A NUTSHELL

34,000 COMPANIESASSISTED

INCREASE OF 21%FROM PREVIOUS YEAR

FACILITATED 419 PROJECTS

GENERATED S$13.6BIN OVERSEAS SALES

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IE

ASSISTANCE FOR SINGAPORE COMPANIES

MAKE YOUR FIRST MOVE

31,000 COMPANIESASSISTED THROUGH MARKET READINESS ASSISTANCE

Sometimes all we need is a little nudge. So many companies have the potential to succeed globally, but just don’t know where to begin. That’s where IE’s MRA comes in – to help companies take their first steps overseas.

01: MARKET READINESS ASSISTANCE (MRA)

01// KNOWLEDGE RESOURCESKnowledge gets you in the door. Get all the information you need from our range of insights papers, market guides and online databases.

02// LEARNING AND NETWORKING Get tips you can actually use by listening to experts and companies who have already experienced it for themselves, through our many seminars, clinics, and workshops.

03// FINANCIAL ASSISTANCEPut your plans into motion with financial assistance.

FIND OUT MORE ABOUT MARKET READINESS ASSISTANCE HERE


DIG IN DEEPER

3,800 COMPANIESASSISTED THROUGH THE GLOBAL COMPANY PARTNERSHIP

Already overseas with your business? There’s still room to raise the bar. IE supports Singapore-based companies by understanding your strategies, products and services, and helping you plan your overseas growth by assessing your international potential. We then provide customised solutions for your company in the areas of capability building, market access, manpower development, and access to financing.

02: GLOBAL COMPANY PARTNERSHIP (GCP)

01// CAPABILITY BUILDING Prepare yourself with crucial business capabilities when venturing into new markets.

02// MARKET ACCESS With over 35 overseas centres, IE can give you access to the right partners and resources for both new market entry and strengthening market position.

03// MANPOWER DEVELOPMENT Equip your business with the strongest team possible for overseas expansion.

FIND OUT MORE ABOUT GLOBAL COMPANY PARTNERSHIP HERE

04// ACCESS TO LOANS AND CAPITAL Access to capital is crucial for your business to go global. IE’s credit enhancement schemes aim to set you up for overseas growth.

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WE WALK THE WALK. IE’S SUBSTANTIAL ASSISTANCE TO SINGAPORE COMPANIES HAS HELPED THEM REALISE THEIR INTERNATIONALISATION EXPANSION PLANS.

IE

GOING GLOBAL

THE MULTIPLIER EFFECT // IE SINGAPORE ANNUAL REPORT 2015/2016 // 15THE MULTIPLIER EFFECT // IE SINGAPORE ANNUAL REPORT 2015/2016 // 15

GRYPHON TEAFINDING NEW CUSTOMERS OVERSEASWITH E-COMMERCE

However, by 2012, their steady growth of 50 per cent in each of its first five years were at risk of stalling. With the limited Singapore market, there was little hope of further expansion.

That’s when Mr Lim decided to embark on an e-commerce strategy to reach overseas customers in Asia. By selling their product online, Gryphon would not only avoid the need for local distribution agents overseas, but could sell directly to Singapore consumers online, bypassing high local distribution costs.

The idea in theory was simple and clever, but execution proved a lot trickier. A major challenge Gryphon faced when embarking on its new e-commerce transformation was getting used to e-commerce operations, which were completely new to them.

Their new website also faced


Gryphon Tea was founded in 2006 by Lim Tian Wee to develop and manufacture premium gourmet tea. His wide variety of tea was quickly embraced by the Singapore market, landing on tables of high-end restaurants and hotels, as well as supermarket shelves.

CASE STUDY #01:

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IE

GOING GLOBAL

By selling their product online, Gryphon would not only avoid the need for local distribution agents overseas, but could sell directly to Singapore consumers online, bypassing high local distribution costs.

CASE STUDY #01: GRYPHON TEA

Their new website also faced many teething issues, one of which being that Gryphon had to constantly coordinate between two separate web contractors which was a “disastrous” arrangement, according to Mr Lim.

Mr Lim regards IE’s role in executing their new e-commerce strategy as invaluable.

For instance, IE invited Gryphon to a forum to learn from other more experienced e-commerce players, including fashion retailer Love Bonito and e-commerce marketplace Qoo10.

IE also provided assistance to Gryphon to build its new website, and offered in-market advice on trusted vendors and partners in overseas markets. This led to successful joint marketing campaigns to promote and sell the teas in markets such as China, Philippines and Korea.

Mr Lim remains adamant that companies need to go online to sustain their business and promote growth, especially with today’s consumers expecting online storefronts for consumer products. n


TEE International began as an electrical contractor in the 1980s, and steadily expanded to become an integrated solutions provider specialising in mechanical and electrical engineering and mission-critical building and construction.

TEE INTERNATIONAL BUILDING BRIDGES IN ASIA

CASE STUDY #02:

However, in the increasingly competitive engineering industry, deputy managing director Eric Phua was looking for more stable growth for a sustainable future. In 2008, armed with a strong portfolio of projects and a focus on engineering, TEE ventured into the world of real estate development.

TEE was then able to succeed in not just Singapore, but also Thailand, Malaysia, the Philippines, Hong Kong, Australia and New Zealand.

Their plans didn’t stop there. Mr Phua, who is also the managing director of engineering, felt that a move into owning infrastructure assets would be the best strategy for the group. Not only would this present a stable source of revenue, but it would also be aligned with the engineering division’s expertise in water treatment and power plants.

In addition, the move would allow for synergy across the group’s respective businesses. In the long run, all three businesses could work together on larger-scale projects such as township developments.

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CASE STUDY #02: TEE INTERNATIONAL

In partnership with IE, TEE entered into a joint-venture project with a 49 per cent stake in Global Environmental Technology Corporation, a wastewater treatment plant in Thailand.

The Philippines - with its developing market and a government that recognises the need to privatise utilities - was also high on TEE’s list of ideal countries. But entering that market turned out to be far more challenging.

“Without IE Singapore, honestly, it would not have happened,” Mr Phua said.

He recounted how his team tried for many months to secure the necessary building licence to start a power plant.

Unfamiliarity with local regulations proved to be a stumbling block, and the team considered giving up - until IE Singapore came through with

“Without IE Singapore, honestly, it would not have happened,”Eric Phua // Deputy Managing DirectorTEE International

a proposal: to partner the existing PowerSource Philippines Energy Incorporated (PSPEI).

PSPEI would give TEE International the market opening it needed. With its strong track record in the country, it could also potentially help generate leads.

This opportunity reignited Mr Phua’s interest in the Philippines. Within a year, TEE had invested in PSPEI with a 21.05 per cent stake, a milestone that marked both TEE’s foray into the country as well as its debut in constructing and owning a power plant.

TEE is now working to grow its reach within Thailand and the Philippines, while simultaneously exploring the potential of expanding its asset-ownership model to countries such as Malaysia. n

IE

GOING GLOBAL


SKY URBAN SOLUTIONSSKY FARMS TAKE ROOT ALL OVER THE WORLD

In 2011, after two years of R&D, a prototype of Mr Ng’s sky farm was launched with an investment of $1 million. Tall aluminium frames carried racks of planting troughs rotated by a water-pulley system. The rotation made sure the vegetables got an adequate and a uniform amount of sunlight.

Dr Ngiam Tong Tau, chairman of Sky Urban Solutions (which runs Sky Greens), adds: “Jack’s system consumes very little energy and

water. It also makes use of available sunlight. On top of that, productivity is increased by up to 10 times, which means we only need 1ha of land to produce the same quantity of vegetables on 10ha of land for Singapore.”

After news of Mr Ng’s technology broke, the company was inundated with queries from research institutes, investors and NGOs from different overseas markets.

Sometimes having an innovative idea isn’t enough to guarantee success. When Sky Urban had the solution to farming without having to worry about arable land, space or weather conditions, they knew they had something that would solve problems around the world. IE was there to help get their foot in the door.

CASE STUDY #03:

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CASE STUDY #03: SKY URBAN SOLUTIONS

So began the globalisation process. All the buzz around Sky Greens’ creation naturally directed Mr Ng to prioritise IP protection. IE Singapore closely guided Sky Greens in trademarking.

“Another area which IE really helped us a lot in was the partial funding of our marketing person in charge of Europe and the US, who has linked us with relevant parties,” says Dr Ngiam, revealing: “We are in advanced talks with New York now. One fine day, you’ll find our Sky Greens in the city.”

Sky Greens also found it tough to sieve out the genuine explorations from amid the flood of interest, so the government agency’s ability to provide thorough company checks was a massive relief.

Earlier this year in June, Sky Greens officially partnered with China’s Hainan Lingshui Runda Modern Agricultural Science and Technology, in a deal worth a few millions. Elsewhere in China, such as Beijing, Fujian, Xi’an and the Sino-Singapore Tianjin Eco-city, discussions are also underway. n

“We are in advanced talks with New York now. One fine day, you’ll find our Sky Greens in the city.”Dr Ngiam Tong Tau // Chairman Sky Urban Solutions

IE

GOING GLOBAL


It’s not every day that Silicon Valley, which sees millions of new ideas every year, will recognise a new technology in the market, but Singapore’s own Crayon Data has managed to gain that recognition.

CRAYON DATAVENTURE CAPITALIST FAVOURITE BLOWS SILICON VALLEY AWAY

The winner of TiE Silicon Valley’s 2014 Global Hot Technology Start-up Watch List earned its place by addressing a fast-growing issue in today’s giant consumer market – choice. SimplerChoices, Crayon Data’s proprietary platform harnesses the power of big data to allow businesses to deliver highly personalised choices to consumers. With such a universal product, Crayon Data knew that going global was on the cards from Day 1. Under

IE’s Global Company Partnership (GCP) programme, Crayon Data was able to enter the US market with relative ease.

When asked about his proudest moment in venturing into the US, co-founder and chief executive officer Suresh Shankar says the time when he met the management of some of the largest venture capital funds in the US, and they were “blown away” by his products.

CASE STUDY #04:

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CASE STUDY #04: CRAYON DATA

“My experience was that the US is a very welcoming market. If the technology looks cool and works, people are willing to try it.”Suresh Shankar // Co-founder and Chief Executive Officer Crayon Data

Currently, the three year old company’s clients span sectors such as hospitality, retail, banking, telecommunication and media and advertising sectors in the United States, Europe, Middle East and Asia-Pacific.

Apart from winning numerous prestigious industry awards over the years, Crayon Data has also received funds from Mitsui & Co and Ratan Tata in March 2016. These undisclosed investments come in addition to the $10 million in Seed and Series-A funding from angel institution investors such as Jungle Ventures and Spring Seeds earlier.

“My experience was that the US is a very welcoming market. If the technology looks cool and works, people are willing to try it.” n

IE

GOING GLOBAL


INDOGUNASERVING UP SINGAPORE STYLE DIMSUM TO THE MIDDLE EAST

Says their MD Helene Raudaschl, “Just like sushi, which has taken the world by storm, I believed dimsum could be another ‘storm’.”

They made a clever choice in deciding on Dubai. Asian tourism – particularly the Chinese – in Dubai is on the upswing. Chinese visitor numbers are predicted to hit 545,000, a surge of 98 per cent through 2023, according to a recent report by Oxford Economics and the InterContinental Hotels Group.

For Indoguna, this was a perfect time to invest. However, Dubai as a market was extremely foreign to them. And that’s where IE came in to lend a helping hand.

Ms Raudaschl discloses that the factory opening would have been delayed by nine to 12 months without IE’s assistance.

CASE STUDY #05:

Singapore-branded dimsum has made its way to the Middle East, thanks to premium food supplier Indoguna. It has set up a 6,000sqm factory costing $8 million in the middle of the desert, churning out a formidable range of Halal-certified dimsum.

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CASE STUDY #05: INDOGUNA

“With IE introducing us to the necessary contacts, there was a higher level of trust and confidence that the contact they gave us is legitimate – and the right one.”Helene Raudaschl // Managing Director Indoguna

She sums up: “The amount of obstacles could send you packing to go home because it’s just too frustrating.”

She recalls, “When we went to Dubai in 2011 to look for property to build the factory site, IE connected us to the local authorities and relevant contacts. The site where our factory is located – Jebel Ali Free Zone – was also recommended by IE.”

She stresses: “IE saved us a lot of time and trouble. Even if we find things ourselves, there’s always a level of doubt as to whether the person or authority you’ve found is the right contact. Responses from the government were also faster.

“With IE introducing us to the necessary contacts, there was a higher level of trust and confidence that the contact they gave us is legitimate – and the right one. I felt much more comfortable with IE’s advice in Dubai than to hear it from someone else, like an agent.” n

IE

GOING GLOBAL


PEOPLE ARE AN ESSENTIAL PART OF ANY COMPANY. IE CONTINUES TO BUILD A PIPELINE OF GLOBAL-READY SINGAPOREANS FOR INTERNATIONAL ROLES BY DEVELOPING MARKET KNOWLEDGE AND RELEVANT SKILLS FOR OVERSEAS ROLES.

IE

GROOMING GLOBAL TALENT

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IE


01: GROOMING STUDENTS

The Young Talent Programme (YTP) is aimed at supporting students for future global careers

Since 2013, YTP has helped 1,988 students gain skills and experience for future global roles

Comprises YTP Scholarship and YTP Market Immersion programmes

THE MULTIPLIER EFFECT // IE SINGAPORE ANNUAL REPORT 2015/2016 // 27THE MULTIPLIER EFFECT // IE SINGAPORE ANNUAL REPORT 2015/2016 // 27THE MULTIPLIER EFFECT // IE SINGAPORE ANNUAL REPORT 2015/2016 // 27

YTP SCHOLARSHIP

The YTP Scholarship is a mid-term undergraduate scholarship jointly offered by internationalising Singapore companies in collaboration with IE. To meet the growing demand for talents with skills in infrastructure project structuring and financing, IE awarded the first batch of YTP Infrastructure Development Scholarship recipient in 2015 with DBS Bank and Hyflux. This is part of the efforts to groom future home-grown infrastructure development talent as Singapore strives towards becoming a global infrastructure hub.

YTP MARKET IMMERSION

Through IE’s partnership with the local universities and polytechnics, students get to experience the world from overseas exchanges and internships. Having first-hand global experience gives them a head-start in their future careers. In 2015, IE extended the YTP Market Immersion to the five Polytechnics and within 6 months, the programme has benefitted over 200 Polytechnic students.

The diverse internship experiences offered by the programme have so far included hospitality roles in Ascott and a cross-country market research project with Procter & Gamble. Since 2013, IE has supported 1,961 students in experiencing living and working overseas.

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Helping PMEs future-proof their career by acquiring deeper knowledge of overseas markets, gaining overseas work experience, and developing specialised skills to undertake global roles

To date, IE has supported over 700 PMEs in various market immersion programmes

INTERNATIONAL BUSINESS

FELLOWSHIP - EXECUTIVE

PROGRAMME (IBF-EP)

In partnership with SBF and SCCCI, the iBF-EP equips middle and senior management with first hand market knowledge and the chance to build business networks in markets all over the globe. These 5-day intensive programmes conducted overseas focus on emerging business trends and opportunities. Past programme themes include e-Commerce development, the Internet of Things in China, and entering the emerging Myanmar market.

SKILLSFUTURE

STUDY AWARD FOR

INTERNATIONALISATION

The SkillsFuture Study Award in Internationalisation helps Singaporean PMEs better navigate and overcome the complexity of overseas markets. To date, 15 courses have been approved by IE for the Study Award. Most recipients come from SMEs looking to gain new knowledge on managing and leading international teams and projects as they expand overseas. IE will offer a total of 170 Study Awards to Singaporean PMEs by FY2016.

IE


02: PREPARING PROFESSIONALS, MANAGERS AND EXECUTIVES (PMEs)


03: PARTNERSHIP WITH SINGAPORE COMPANIES

IE also supports building global-ready Singaporeans through overseas market attachments

// Practice-based assignments give individuals the chance to work and learn in overseas markets for up to 6 months, guided by company-appointed mentors and coaches

IE partners Singapore companies to support HR projects for internationalisation

// Projects range from alignment of talent and performance management practices, to recruitment of experienced talent for key global roles

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04: NURTURING TRADE PROFESSIONALS

CENTRE OF EXCELLENCE IN

INTERNATIONAL TRADING@

NANYANG TECHNOLOGICAL

UNIVERSITY (CEIT@NTU)

// The International Trading Programme (ITP) is a collaboration between IE Singapore, NTU and industry partners.

// To date, 11 industry partners have participated in the ITP

// The CEIT aims to develop a pipeline of talent for the trading sector, particularly the energy and chemicals, agri-commodities, as well as metals and mining industries

// The ITP will be offered to Engineering, Business and Maritime Studies students in NTU. First batch of talents are expected to graduate in 2018

INTERNATIONAL

TRADING INSTITUTE @

SINGAPORE MANAGEMENT

UNIVERSITY (ITI@SMU)

// The ITI is a collaboration between IE Singapore, SMU and global trading industry players. A trading concentration is offered to the Finance Majors in the SMU Business School

// Since 2007, 29 key players in the trading industry have signed up as industry partners for ITI. Their support includes providing internships, hosting overseas study trips of students, participating in events/talks, conducting admissions interviews, providing advice on the curriculum to students

// SMU also has a collaboration with SUTD, whereby SUTD students can take certain courses offered at the ITI

As the leading hub for global commodities trading in Asia, Singapore needs to stay competitive by adapting constantly to evolving market dynamics. It is important that our trading firms here have a ready pool of talent – both global and local – with highly specialised skills to ensure the vibrancy of our trading sector.

IE works with institutions of higher learning to a build talent pool in Singapore that will meet the demands of this rapidly evolving sector.

IE

GROOMING TALENT


INTERNATIONAL TRADE

ASSOCIATE PROGRAMME

(ITAP)

// Launched by IE in November 2015

// Supported by the International Chamber of Commerce (ICC) Academy, four polytechnics (Nanyang Polytechnic, Ngee Ann Polytechnic, Singapore Polytechnic and Temasek Polytechnic) and 22 industry players from the trading and trade finance sectors

// Comprises the Global Trade Certificate (GTC) programme conducted by the ICC Academy, with practical experience provided by industry through internships. To date, there are 78 internships available for the students.

// GTC offers as a certification to polytechnics students overlaying on their existing diploma studies. Leveraging the GTC developed by the ICC Academy, the students will receive industry accredited certification which enhances their employability and productivity in trade function roles. The industry partners will offer 3-6 months internships during or after that. Thereafter, there will be opportunities for full-time employment with the same companies. n

ICC ACADEMY@

INTERNATIONAL CHAMBER

OF COMMERCE

// Launched by IE and the International Chamber of Commerce (ICC) on 18 March 2015

// Taking full advantage of ICC’s extensive global network, the ICC Academy promotes the highest standards of excellence in global professional education. The courses are designed and taught by ICC’s roster of experts and practitioners, incorporating insights from external senior business leaders and policymakers

// The Academy has started with a faculty in banking and trade finance shaped by over 600 banking experts from 110 countries. The faculty features around 70 online courses and two global certificates (Global Trade Certificate and Certified Trade Finance Professional) in trade finance. Following this initial trade finance focus, the ICC Academy will broaden its scope – introducing new curricula, spanning all ICC competences from international law to anti-corruption.

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IE

THE WORLD


01: PROJECTS FACILITATED

// IE entered a partnership with Foodhall, one of Indonesia’s largest gourmet supermarkets, to open a Singapore Food Aisle under the Tasty Singapore brand

// First of its kind initiative // Brought together 14 food companies for greater

market reach and awareness // Concept has been replicated in City Mart in

Yankin, Myanmar

CLUSTERING SMES UNDER THE TASTY SINGAPORE BRAND

$13.6B GENERATED

IN OVERSEAS SALES AND $4.5B IN OVERSEAS INVESTMENTS

419 PROJECTSFACILITATED

// e-Commerce is a strategic tool to help companies expand globally

// IE partnered the Singapore Food Manufacturers’ Association to develop a Singapore pavilion on Tmall

// Since Aug 2015, 40 companies have come on board, including first timers such as Sun Lim Garden (Kangeroo products) and Goh Joo Hin (New Moon products)

// IE’s partnership with Google on the “Go Global with Google” programme helps retailers build digital teams in-house, as well as provides free consultations and workshops on digital analytics to Singapore companies

// IE partnered YCH and SingPost on the e-fulfilment front, helping to seal partnerships with e-marketplaces such as Snapdeal and major retailers such as ASOS and Payeasy

CAPTURING VALUE FROM THE ENTIRE E-COMMERCE ECOSYSTEM

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IE

THE WORLD

01: PROJECTS FACILITATED

// IE facilitated Surbana Jurong in capturing opportunities from the Master Planning phase in Andhra Pradesh; nominated Ascendas-Singbridge and Sembcorp as developers for the seed area of the capital city

// IE’s state level engagements with the Government of Andhra Pradesh will create downstream opportunities in infrastructure, connectivity, logistics, and service

// The Chongqing Connectivity Initiative also allows Singapore companies to ride the growth of modern services such as aviation, finance, logistics, and ICT services in Western China.

// The Guangzhou IP hub is a one-stop show for all IP-related matters: Patent and trademark registration, search and examination, IP court, and working space

// SMEs stand to benefit most from this arrangement

// Singapore Centre by Ascendas offers fast-track business registration (5 vs 20 working days), provide physical working space, and possible first-year rental waiver

// IE’s partnership with IPOS to provide IP systems and processes in a safe and familiar environment for SMEs

// Companies can register and list in Guangzhou, then expand to other parts of China

GENERATING DOWNSTREAM OPPORTUNITIES FOR COMPANIES WITH PLATFORM PROJECTS

SMOOTHEN ENTRY INTO CHINA WITH IP HUB ECOSYSTEM IN GUANGZHOU CITY

// IE’s partnered the Asian Development Bank to create the Asian Infrastructure centre of excellence

// $10m facility aims to structure and prepare projects, and increase bankable projects in the region

// Partners: Canada, Asian Development Bank // IE also partnered the World Bank in support of the Global

Infrastructure Facility // $100m facility helps prioritise projects, and prepare bankable

and well-structured projects to financial close // Partners: Australia, Canada, China, Japan and World Bank

CREATING IMMEDIATE OPPORTUNITIES FOR PROFESSIONAL SERVICE FIRMS THROUGH PARTNERSHIPS WITH MULTILATERAL DEVELOPMENT BANKS (MDBS)

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THE WORLD


GLOBAL TRADER SUMMIT // 12 MAY 2015

02: THOUGHT LEADERSHIP AND NETWORKING

Over 300 trading professionals participated in the Global Trader Dialogue

Memorandum of Agreement signed between NTU and 5 trading Industry Partners to develop a pipeline of talent for the trading sector

50 global executives from top commodities trading firms gathered at the Global Trader Dialogue

Discussing major trends and debating issues that shape the future of global trading systems and markets since 2013

Theme for 2015: “Under the Gaze: The New Stage of Global Trading”

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THE WORLD

LATIN ASIA BUSINESS FORUM // 16 OCT 2015

“In the midst of disorder in the public scene, you find real strengths, people true to their mission expanding overseas.” Tharman Shanmugaratnam // Deputy Prime Minister & Coordinating Minister for Economic and Social Policies

379 delegates from 200 organisations across 21 countries attended the Latin Asia Business Forum 2015

Exploring partnership opportunities between Latin America and Asia

Over 50% of delegates were C-suite and senior management executives

121 successful business matches made during the event

Find out more about the Latin Asia Business Forum on our blog


LATIN ASIA BUSINESS FORUM // 16 OCT 2015

ASIA-SINGAPORE INFRASTRUCTURE ROUNDTABLE // 15 APR & 21 OCT 2015

Find out more about Asia’s infrastructure scene on our blog

Bringing together government leaders and the region’s leading infrastructure players across the entire value chain to developpartnerships for Asian infrastructure projects

66% of attendees were C-Suite, MD and Director level

405 delegates across the entire infrastructure value chain attended the Asia Singapore Infrastructure Roundtable 2015

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INDIA SINGAPORE ECONOMIC CONVENTION // 24 NOV 2015

IE

THE WORLD

510 participants attended the India Singapore Economic Convention 2015

Welcoming HE Shri Narendra Modi, Hon’ble Prime Minister of India to explore Singapore-India cooperation

#ModiInSingapore and #SgIndia clocked 1,948 tweets in total

Find out how to make use of opportunities in India’s key sectors on our blog

“I am here to invite you to India in a bigger way. I have also come to assure you that I am here to carefully hold your hands.” Narendra Damodardas Modi // Prime Minister of India


CHINA-SINGAPORE DIGITAL ECONOMY FORUM // 19 JAN 2016

Live stream watched by 6,398 viewers

Find out more about China-Singapore collaboration in the digital economy on our blog

> 270 delegates across the digital economy value chain attended the inaugural China-Singapore Digital Economy Forum 2016

Bringing together key players in the China digital landscape to explore Singapore-China digital collaboration

17 companies participated in the forum – including Alibaba, Starhub, Xiaomi, Ctrip, Tencent, SPH and NETS

“By tapping each country’s strengths, Singapore and China can together become the leaders in the Internet industry.” Ren Xianliang // Vice Minister, China Cyberspace Adminstration

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A RECORD OF

IE

CORPORATE SOCIAL RESPONSIBILITY$48,639RAISEDFOR CSR INITIATIVES IN 2015


01: CSR IN VIETNAM (IN PARTNERSHIP WITH THE HUMANITARIAN SERVICES FOR CHILDREN OF VIETNAM)

S$6,780 RAISED

AN ADDITIONAL

RAISED FOR 48 SCHOLARSHIPS

S$27,057 RAISEDFOR THE PURCHASE AND MAINTAINING OF COWS FOR NEEDY FAMILIES

THE BREEDING AND SALE OF COWS WILL PROVIDE FAMILIES WITH A SUSTAINABLE SOURCE OF INCOME

17 COWSGIVEN TO 17 NEEDY FAMILIES

15 IE OFFICERSWENT TO VIETNAM TO BUILD COW SHEDS AND VISIT FAMILIES AND SCHOOLS

204 IE STAFFSUPPORTED CSR IN VIETNAM IN 2015

S$24,554 RAISED

TOTAL OF

FOR THE LIGHTHOUSE SCHOOL’S HOLISTIC CURRICULUM NEEDS

02: CSR BACK HOME

S$12,277 RAISEDRAISED BY IE

DOLLAR FOR DOLLAR MATCHING OF DONATIONS BY THE COMMUNITY CHEST

50 BENEFICIARIESFROM 7 – 14 YEARS OLD

45 IE VOLUNTEERSAT THE LIGHTHOUSE SCHOOL

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TEAM


BOARD MEMBERSCHAIRMAN

SEAH MOON MING

Group Chief Executive Officer Pavilion Energy Pte Ltd

DR ROBERT YAP

Executive Chairman YCH Group

DEPUTY CHAIRMAN

MEMBERS

GAN SEOW KEE

Chairman and Managing Director ExxonMobil Asia Pacific Pte Ltd

LAU PEET MENG

Deputy Commissioner (Operations) & concurrent Director (Operations) Singapore Police Force Ministry of Home Affairs

BG LIM TUANG LIANG

Chief of Staff, Air Staff Republic of Singapore Air Force Ministry of Defence

OLIVIA LUM

Executive Chairman and Group Chief Executive Officer Hyflux Ltd

ONG PENG TSIN

Managing Director Monk’s Hill Ventures

VISWANATHAN SHANKAR

Group Chief Executive Officer Gateway Partners

TAN CHONG MENG

Group Chief Executive Officer PSA International Pte Ltd

EUGENE WONG

Founder and Managing Director Sirius Venture Capital Pte Ltd

YEOH KEAT CHUAN

Managing Director Economic Development Board

CHIEF EXECUTIVE OFFICER

LEE ARK BOON

Chief Executive Officer International Enterprise Singapore

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GROUP DIRECTORS

SENIOR MANAGEMENT TEAM

CEO

LEE ARK BOON

DEPUTY CEO

CHUA TAIK HIM

ASSISTANT CEOs

SATVINDER SINGH TAN SOON KIM YEW SUNG PEI

INTERNATIONAL OPERATIONS

EAST & WEST CHINA Ho Chee Hin NORTH & SOUTH CHINA Liane Ong

EMERGING EUROPE, LATIN AMERICA & THE CARRIBEAN (EELAC) Mike Ng

MIDDLE EAST & AFRICA Jayakrishnan Gopalakrishnan

NORTH AMERICA & EUROPE Natalie Choo NORTH ASIA & PACIFIC Benjamin Yap

SOUTHEAST ASIA Ivan Tan

SOUTH ASIA Benjamin Yap

CORPORATE FUNCTIONS

GROUP FINANCE & ADMIN Ong Siew Hwee

HUMAN RESOURCE Clarence Hoe

INFORMATION MANAGEMENT Fong Wai Leng

INTERNAL AUDIT Sandy Loke

PLANNING Jacelyn Teo

BROAD-BASED SERVICES & COMMUNICATIONS

CORPORATE COMMUNICATIONS Caroline Wong

CUSTOMER SERVICES Tan Li Lin

INDUSTRY SECTORS

ENVIRONMENT & INFRASTRUCTURE SOLUTIONS Kow Juan Tiang

LIFESTYLE BUSINESS Lee Yee Fung

TECHNOLOGY BUSINESS Foong Kah Keong

TRANSPORT & LOGISTICS Law Chung Ming WHOLESALE TRADE

TRADE PROMOTION

Amreeta Eng

POLICY DESIGN & DEVELOPMENT

CAPABILITY DEVELOPMENT Angeline Chan ECOSYSTEM DEVELOPMENT Gina Lim

contents · 2 contents 01 ie x 2015/2016 04 chairman & ceo’s message 06 ie x trade with the...

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