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Singapore-based companies spread their wings internationally with EDB's Regional Headquarters Award
- Five companies received the Singapore Economic Development Board's (EDB) Regional Headquarters Award at a lunch hosted by Mr Teo Ming Kian, the Chairman for EDB today. The companies hail from a variety of industries, from a Human Resource service provider to an IT media company. The five companies are The GMP Group (Singapore), Hardware Zone Pte Ltd (Singapore), iNETest Resources Pte Ltd (Singapore), LAI Games International Pte Ltd (Australia) and Ntegrator Pte Ltd (Singapore).
- Singapore's unique value propositions have attracted over 350 companies to the HQ programme since it was launched ten years ago. Besides anchoring the regional activities of MNCs here, the programme has also helped smaller companies build a strong Singapore base to expand their business activities into the fast-growing Asia region and beyond. Oft-cited advantages are our strategic location within this region, our physical and IT connectivity and our eco-system of enterprises which allows companies to work with and feed off each other.
Local Companies Leverage on Singapore's Value Propositions
- One objective of the RHQ award is to encourage local companies that have reached a certain stage of development to internationalise as their next stage of growth. Local companies make up the majority of today's award recipients. Using Singapore as their base, they have already expanded overseas into markets as far as India and the Philippines.
- The GMP Group is using Singapore effectively as a springboard to expand its regional presence into key markets such as China, Thailand and the Middle East. With Singapore's open policy towards foreign talent as well as high-caliber workforce, Singapore is the key location from which to anchor this staffing and HR service provider. Ntegrator Pte Ltd, which specializes in network and voice communications systems, is also reaching out from Singapore to new markets such as Vietnam and Myanmar, benefiting from our ease of connectivity to these locations.
- Singapore's eco-system of enterprises has also attracted iNETest Resources Pte Ltd to site its headquarters here. A test and engineering solutions provider for the electronics industry, iNETest now has offices across the region. With the presence of major electronics players in Singapore such as Flextronics, Solectron and Venture, iNETest has found an extensive customer base to build on. From this eco-system, iNETest has also forged strategic alliances with key players such as Agilent Technologies, National Instruments and Derby Associates.
Exploring New Areas of Growth Through Singapore
- Singapore is also ideal as a location for the anchoring of new businesses. The RHQ programme was created to cater to smaller niche companies looking to expand. Hardware Zone Pte Ltd, a local IT media company, and LAI Games International Pte Ltd which operates the Timezone family entertainment centres, have chosen Singapore as their base to locate their headquarters. With Singapore's increasing emphasis on the digital media and gaming sectors, these companies are poised for growth as we continue to develop this new industry. Hardware Zone will be developing new genres of internet and physical media in Singapore and also launch new franchises in Indonesia, China and India and manage them from Singapore.
- LAI Games from Australia has expanded its office here to include marketing, sales, product development, franchising and HR activities for its international offices. Their development is timely as Singapore is now hosting the grand finals of the World Cyber Games 2005. Renowned names in the industry such as Koei from Japan and Lucasfilm have also made established an office in Singapore to take advantage of this growth area.
- 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. 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) or email: tracy_won@edb.gov.sg.
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