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2004
> Six companies awarded EDB's International HQ Status give strong boost to Singapore's engineering and environmental services industry
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Six companies awarded EDB's International HQ Status give strong boost to Singapore's engineering and environmental services industry |
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14 Dec 2004
Greater diversity and vibrancy added to Singapore's attractiveness as headquarters hub.
- Six Engineering and Environmental Services (EES) companies received the International Headquarters Award (IHQ) from Minister for the Environment and Water Resources, Dr Yaacob Ibrahim, this morning at a combined HQ ceremony. The six companies are:
- Beca Asia Holdings Pte Ltd
- Flowserve Pte Ltd
- Kellogg Brown & Root Asia Pacific Pte Ltd
- Otto Holdings Asia Pacific Pte Ltd
- SembCorp Environmental Management Pte Ltd
- Sinomem Technology Limited
(See Annex B for company details.)
Together, these companies will generate an additional total business spending (TBS) of $67 million annually and employ some 200 skilled and professional workers when their business projects are fully implemented.
- EDB's goal is for Singapore to become a global EES hub. The EES industry comprises three main segments: Environmental Technology, Engineering Services, and Process Control and Instrumentation, and EDB envisions excellence in all three segments for Singapore. This industry is projected to grow at 5 to 10 per cent annually for the next 10 years.
- Commented Mr Teo Ming Kian, Chairman, EDB, "That we are able to hold a dedicated EES HQ ceremony today demonstrates the rapid growth of this industry in Singapore as well as in the region. The EES industry is attractive for Singapore because the capabilities and competencies that had been built here for our own needs could be showcased and exported to the region."
- He added, "As more EES companies continue to base their strategic activities here, I am confident that they will be able to help us to position Singapore as the global nerve centre for this industry. We also welcome our first New Zealand and Chinese companies under our IHQ programme. Their presence will add to the richness, and diversity of Singapore as a vibrant HQ Hub."
Global Hub for Environmental Excellence
- Singapore is well-positioned to be the Global Hub for Environmental Excellence and to take advantage of the rapidly growing global environmental technology market estimated at US$600 billion today. There is already a vibrant environmental industry in Singapore, comprising local and international firms in water treatment, waste management, pollution control and energy services. We are strategically located to serve the Asia environmental market which is expected to be the fastest-growing due to swift urbanisation and industrialization.
Houston + + of the East
- Houston is the global leader in Engineering Services with trademark strengths in oil and gas, and petrochemicals. Singapore aims to grow our Engineering Services industry over and above Houston's, by becoming a comprehensive one-stop engineering solutions hub for diverse industries such as pharmaceuticals, electronics and infrastructure. Currently, 24 of the top 40 engineering design companies worldwide already have presence in Singapore.
Process Control & Instrumentation Hub
- Singapore is already the largest process control hub in Asia with nine of the top 10 global process control firms here with significant operations. We aim to maintain this position and to expand our market share.
- The EES industry is an important supporting industry to Singapore's major manufacturing clusters such as Electronics, Chemicals and Biomedical Sciences, and is often viewed as a vital bridge linking manufacturing and services.
For media enquiries, please contact:
Ms Tracy Won
Marketing Communications
Tel: 6832 6890 (DID) 9856 9719 (HP)
email: tracy_won@edb.gov.sg.
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