The recipient of Singapore's highest corporate award has demonstrated strong industry leadership and exemplary contributions to Singapore's efforts to becoming a global hub in the chemical industry.

 

When one of Japan's leading chemical companies decided to establish a presence in Singapore, the industry took notice. That was in 1966 and Singapore, just a year after independence, was laying the foundations of its economy. Over the next 42 years, Mitsui Chemicals, Inc. and Singapore have together forged a deep relationship and grown in tandem. In the process, the company also became instrumental in the development of the nation's chemical industry.

For its outstanding contributions, Mitsui Chemicals was presented the Distinguished Partner in Progress Award (DPIP) on 14 August in a ceremony graced by guest-of-honour, Professor S Jayakumar, Singapore's Deputy Prime Minister and Co-ordinating Minister for National Security.

The DPIP is the most prestigious corporate award presented by the Singapore government to companies for being one of the city-state's key development partners in its economic, social and community arenas. Since its inauguration in 1991, 24 foreign corporations, such as Motorola Singapore and Toshiba Corporation, have been recipients.

Today, Singapore is Mitsui Chemicals' headquarters for the Asia-Pacific region including the Middle East. The company has since expanded and diversified its operations, which encompass sectors comprising of basic chemicals, advanced chemicals and performance materials. It continues to be a major player in the Singapore's chemical industry and contributes actively to industry integration as well as diversification of new products and production processes.

"Singapore is committed to growing the chemicals industry as a key pillar of our economy and this would not have been possible without support from our investors," says Professor Jayakumar. "Mitsui Chemicals' vision to be a 'Chemistry, Innovation, Dreams' company resonates closely with Singapore which aims to add value to the chemical industry through research and development activities."

"Apart from having excellent infrastructure and facilities, Singapore offers many competitive advantages in terms of talent capacity, a business-friendly government and attractive intellectual property protection." - Kenji Fujiyoshi, President and CEO, Mitsui Chemicals

Partnership For Growth And Success

When Singapore decided to transform Jurong Island into the centrepiece of its chemical industry, Mitsui Chemicals had been one of the first global corporations to buy into this vision. To date, the company has invested over S$1 billion (US$73 million) in manufacturing projects, sowing the seeds for a phenolic chemistry chain on Jurong Island - the hub of energy and chemical activities in Singapore for almost 100 international companies.

Recently, Mitsui Chemicals broke ground for the construction of its second production plant for TAFMER™, a high-end engineering polymer used in a wide range of applications, from automotive to electronics and packaging materials. With the completion of the new plant in December 2009, Mitsui Elastomers Singapore will boost its TAFMER™ production capacity to 200 kt/y, double its existing capacity.

These efforts are not only in line with the Republic's objectives to attract high value, complex manufacturing, but more importantly, have strengthened Singapore's reputation as one of the world's top petrochemicals hub.

"Singapore is a choice location for Mitsui to grow and expand its business operations, especially as a springboard to the surrounding region. Apart from having excellent infrastructure and facilities, Singapore offers many competitive advantages in terms of talent capacity, a business-friendly government and attractive intellectual property protection," says Kenji Fujiyoshi, President and CEO, Mitsui Chemicals.

Beyond manufacturing investments, the company also plays an important role in showcasing and developing Singapore's research and innovation capabilities. In 2006, Mitsui Chemicals became the first leading Japanese chemical company to set up a research & development (R&D) centre in Singapore focusing on catalysis and advanced materials. With its leading position in catalysis, the company's R&D activities have helped to increase the mindshare of Singapore as a suitable R&D location among other Japanese chemical companies.

Mitsui Chemicals also worked with the Singapore Economic Development Board (EDB) and the Agency for Science, Technology and Research (A*STAR) to jointly organise Singapore International Symposium 2006, the first world class research symposium led by a top multinational company in Singapore. This has helped enhance Singapore's brand name for chemicals R&D, and set the momentum for subsequent symposiums by other companies.

Good Corporate Citizen

On the community front, Mitsui Chemicals has been actively involved in various corporate social responsibility initiatives. In 2007, it sponsored students from the National University of Singapore to attend its third Mitsui Chemicals International Symposium on Catalysis Science in Japan. The company has also taken a proactive role in environmental conservation by contributing to the Garden City Fund, initiated by the Singapore Environment Council, and participating in the "Plant-A-Tree" Programme.

Lim Siong Guan, Chairman, EDB, aptly sums it up, "Mitsui Chemicals and Singapore have enjoyed a fruitful partnership for many years. Its strong investment interests in Singapore have helped the nation stay at the forefront of developments in the chemical industry as well as enhance our reputation as a world-class petrochemicals hub."