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Seven Companies Receive Inaugural Regional Headquarters Award |
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02 Nov 2004
Regional Headquarters Award recipients comprise foreign and local players looking to grow from and out of Singapore into the region
- The inaugural Regional Headquarters (RHQ) award was presented by Mr Heng Chee How, Minister of State for Trade and Industry to seven (7) local and foreign companies today at a combined HQ ceremony. The RHQ, administered by the Singapore Economic Development Board (EDB), will complement the existing International Headquarters Award (IHQ) which is for companies with more substantial and extensive operations managed out of Singapore.
- The seven companies are:
- atea Environmental Technology Pte Ltd
- Convergys Employee Care Singapore Pte Ltd,
- CSG Systems Singapore Pte Ltd,
- Distribution Management Solutions Pte Ltd,
- Kadence Asia Pacific Pte Ltd,
- Kawiseraya Corporation Pte Ltd
- Oakwell Engineering Limited
(See Annex B for company details).
- The RHQ award was introduced with a two-pronged objective in mind. The first is to allow international companies to conduct forays into the Asia Pacific using Singapore as a base. The RHQ award also caters to smaller niche companies that are new to Singapore and the Asia Pacific. The second objective is to encourage local companies that have reached a certain stage of development to internationalise as their next stage of growth.
- Of the seven awardees today, four are international companies from the different regions of US, Europe and Asia. Local companies constitute three of the RHQ awardees. They come from a diverse range of industries - from environmental and engineering services companies to logistics to education.
- Commented Mr Teo Ming Kian, Chairman of EDB, "The healthy take up of the RHQ award from both local and foreign companies in a wide range of industries is encouraging. It shows that Singapore remains attractive for companies to launch their forays into region. In turn the presence of these companies of various sizes, industries and geographies adds to the vibrancy of Singapore as a HQ hub."
Singapore as Springboard to the Fast-Growing Region
- Singapore is the ideal location for companies to springboard into the region and to experiment their products or service offerings for the regional markets. By locating their RHQs here, companies can effectively leverage on Singapore's strategic location and excellent physical connectivity to reach the fast-growing economies of Asia. The presence of these international companies here and the diversity of investments from both our traditional and new geographies clearly demonstrate the attractiveness of Singapore as a HQ hub.
Encouraging Local Companies onto Next Stage of Growth
- One key enhancement made to the RHQ programme was to broaden the eligibility of the programme to include all companies operating in Singapore. Local companies are encouraged to leverage on Singapore's value propositions which also include our technological capabilities and skilled workforce to build a strong base to expand their business activities into the fast-growing Asia region and beyond.
- EDB aims to nurture a HQ hub where a network of company HQs of various sizes, engaging in different activities in Singapore, mutually supporting each other and thereby generating more business, jobs and growth opportunities can be developed. These HQs will collectively build up new depth, diversity, breadth and create a buzz of economic activities in Singapore.
For media enquiries, please call Ms Tracy Won, Marketing Communications at Tel: 6832 6890 (DID) 9856 9719 (HP) or email: tracy_won@edb.gov.sg.
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