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Speech by Mr Lim Siong Guan, Chairman Economic Development Board, at the IHQ award ceremony for Worleyparsons on Monday, 30 October 2006 at 2pm at Singapore Power Building
Mr Mark Trueman, Regional Power Director, WorleyParsons
Mr Greg Conlon, General Manager, WorleyParsons Singapore,
Ladies and Gentlemen,
Introduction
1. The “Australian Made” green and gold kangaroo trademark is one the global market recognizes to represent integrity and distinction. Australians and Australian companies are proud to be associated with it. Today, I am pleased to be here at one of Australia’s largest engineering services companies to commemorate your transition from being not just “Australian Made”, but also “Made in Singapore”.
Singapore – A launch pad for Australian companies into Asia and beyond
2. The “Made in Singapore” mark represents three key attributes - quality, reliability and value. By choosing Singapore as the base for its Asian headquarters, WorleyParsons is presenting a unique value proposition to its clients by combining the positive traits of being made in both Australia and Singapore.
3. Singapore has years of close economic cooperation with Australia. WorleyParsons joins a growing group of Australian companies such as BHP Billiton, Amcor and United Group with regional, if not international, headquarters in Singapore, to manage and expand their operations in the region. There are now more than 1000 Australian companies active in Singapore. We hope that more will follow WorleyParsons’ example in successfully straddling the “Australian Made” and “Made in Singapore” labels. .
Ideal Headquarters Location
4. We are happy to welcome WorleyParsons’ affirmation of Singapore as a key business hub for companies. WorleyParsons is effectively leveraging Singapore’s advantages to grow its business in all aspects. Its Asia-Pacific engineering centre cum headquarters in Singapore is set to grow to 650-strong by 2010. With our strategic location, good infrastructure, pro-business environment and conducive tax regime, Singapore is now a magnet for multinational companies from all geographies looking to use Singapore as a launch-pad into the region.
Skilled Manpower
5. WorleyParsons has established a number of global Centres of Competence here, in the areas of subsea and pipeline design, advanced energy solutions and manpower resource management. This has been possible because of the local skilled workforce and easy access to global talent in Singapore. Companies can follow the WorleyParsons example by tapping on this diverse pool of talent to develop new niche capabilities.
Effective hub to build capabilities and ride on regional boom
6. With Singapore’s pledge to strenuously sustain the manufacturing industry here, we have been seeing an influx of key manufacturing investments. These investments reflect the robust growth projected for the region and beyond. The economic boom is taking place in a large swathe of the Asia-Pacific, including China, India and the Middle-East. Companies like WorleyParsons can leverage on the capabilities from the Singapore base-load of business, and export them to the region. Already, this attractive business model has attracted more than half of the global top 40 engineering services companies to establish their bases in Singapore.
Conclusion
7. We clearly have a win-win situation between Singapore and WorleyParsons. We look forward to growing this “Made in Australia and Made in Singapore” business together with you. Congratulations again to the management and staff of WorleyParsons, with very best wishes for continuing great success in the years to come. Thank you.
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