Mr Lim Hng Kiang at the SATS Brand Launch, 7 June 2011

SPEECH BY MR LIM HNG KIANG, MINISTER FOR TRADE AND INDUSTRY AT SATS BRAND LAUNCH ON TUESDAY 7 JUNE 2011 AT RED DOT MUSEUM

Good afternoon

Mr Edmund Cheng, Chairman of SATS

Mr Clement Woon, President & CEO of SATS

Ladies and gentlemen,

I am pleased to join you this afternoon to witness the launch of the new brand identity for SATS.I am sure we all recognise that a strong brand is essential for greater mindshare and competitive differentiation, especially in an increasingly competitive marketplace like Asia.Establishing a strong brand is considered an important strategy for businesses, especially to those seeking to expand globally or regionally.

Asia on the Rise

We are seeing the emergence of Asia as a major global economic engine.This strong growth is driven by key factors such as buoyant domestic demand and continued performance by Asia’s emerging markets.Asian companies are also recognised for their innovativeness, their size and global reach.Bain, a business consultancy, estimates that by 2015, one-third of the Financial Times Global 500 will come from emerging countries.With Asia on the rise, the competition for business in the region will only intensify, and trade in goods and services between Asia and the world will continue to increase.

Singapore’s Role in the Asian Growth Phenomenon

Singapore is in a good position to harness the increased trade flows with its extensive connections throughout Asia.We can be the leading Global-Asia Financial and Business Hub, if we continue to build upon four services-related pillars. These are, strengthening our position as a trade and transport hub; growing Singapore as an international financial centre; growing modern business services; and enhancing the capability and vibrancy of the ICT sector.Even as foreign businesses establish their regional bases in Singapore, our companies must also take advantage of our strengths to grow their presence in the region too.

I am therefore pleased to note that SATS, a home-grown brand, is making its mark in the global arena in both gateway services and food solutions.SATS has helped put Singapore on the global map as a country that not only adds value to MNCs wanting to expand into Asia, but also as one that is able to export its expertise and capabilities overseas.

Helping Singapore companies in brand-building

Increasingly, many companies consider branding a crucial part of their strategy to successfully venture into and effectively compete in the global marketplace.Today’s increasingly sophisticated consumer demands products with a distinctive brand and unique value proposition. A strong brand will enhance and build purposefully-crafted perceptions in the mind of its stakeholders, thereby increasing mindshare, and eventually market share.

Our SMEs have started to see that branding is one of the critical factors for a successful overseas operation.And to help these companies in their brand-building efforts, IE Singapore and SPRING Singapore have in place comprehensive schemes. This includes the BrandPact programme, which helps businesses build outstanding brands as part of their core capabilities. First initiated in 2005, the programme also helps companies defray the costs of engaging third party consultants and trainers, market intelligence reports, in-house manpower needs as well as intellectual property protection. Since BrandPact’s launch, SPRING and IE have reached out to about 10,000 companies through branding seminars, workshops and clinics, and supported some 500 companies in strengthening their brands.

The Government also identifies opportunities on the industry level, to help raise the profile of local sectors that have done well and are able to export their goods and services abroad. For example, IE Singapore developed the industry brand “Tasty Singapore” in 2004, to offer a single platform to present the varied offerings of Singapore food manufacturing and services companies. The brand has now become synonymous with high food quality, safety and authentic tastes from Singapore’s rich Asian cultural heritage. Tasty Singapore brand ambassadors, which includes companies like Asia Pacific Breweries (Singapore), Prima Taste and Super Coffee Corporation have gone on to different markets including the US, Europe, the Middle East and China to promote their products under this marque. I encourage more Singapore companies to take full advantage of the resources available to invest in branding as a key growth strategy for their business.

Conclusion

The new SATS brand identity is a good reflection of how Singaporean companies have begun to develop strong expertise and capabilities, and are ready to internationalise.I look forward to seeing the new SATS brand become a successful and iconic brand overseas in due course.Let me conclude by extending my warmest congratulations to the management and staff of SATS on the launch of your new brand identity. I wish you every success.