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Jul 9, 2010
Global 'master developer'
<!-- by line -->By Jessica Cheam
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Chairman Lim Chee Onn (left) said the strategic direction of the new unit was borne out of the observation of two major global trends: Urbanisation and the 'tremendous interest in the environment'. -- ST PHOTO: DESMOND FOO
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TEMASEK Holdings unit Singbridge International Singapore on Thursday unveiled its vision to be a global 'master developer' of cities that are not only sustainable but also economically viable.
This will create a new growth platform for Singapore firms who can export their urban solutions to other cities ar ound the world, even while providing a return of investment to the Republic's state investment company.
Speaking at Singbridge's first press briefing at Raffles City, chairman Lim Chee Onn said the strategic direction of the new unit was borne out of the observation of two major global trends: Urbanisation and the 'tremendous interest in the environment'.
Singapore can draw on its development experience of the past four decades and 'aggregate the experience... to help strengthen capabities and capacity in order to generate business opportunities', said Mr Lim, who was a former Cabinet minister and the former Keppel chairman.
The firm has taken on the mission of investing and developing sustainable and economic cities internationally, although its initial focus will be on China. The firm recently signed an agreement with the Guangzhou Municipality to jointly develop the123 sq km Sino-Singapore Guangzhou Knowledge City in Guangzhou, China, which will require an estimated RMB2 billion (S$411 million) investment for its 50 per cent stake.
In May, Singbridge agreed to a feasibility study with the Jilin Municipal Government to assess the commercial feasibility of jointly developing a 1,450 sq km modern agricultural and food zone in Jilin City in China. It has also acquired a 10 per cent stake in the Singapore consortium which holds a 50 per cent stake in the Tianjin Eco-city project.
Read the full report in Friday's edition of The Straits Times.
Global 'master developer'
<!-- by line -->By Jessica Cheam
<!-- end by line -->
<!-- end left side bar -->
<!-- story content : start -->
TEMASEK Holdings unit Singbridge International Singapore on Thursday unveiled its vision to be a global 'master developer' of cities that are not only sustainable but also economically viable.
This will create a new growth platform for Singapore firms who can export their urban solutions to other cities ar ound the world, even while providing a return of investment to the Republic's state investment company.
Speaking at Singbridge's first press briefing at Raffles City, chairman Lim Chee Onn said the strategic direction of the new unit was borne out of the observation of two major global trends: Urbanisation and the 'tremendous interest in the environment'.
Singapore can draw on its development experience of the past four decades and 'aggregate the experience... to help strengthen capabities and capacity in order to generate business opportunities', said Mr Lim, who was a former Cabinet minister and the former Keppel chairman.
The firm has taken on the mission of investing and developing sustainable and economic cities internationally, although its initial focus will be on China. The firm recently signed an agreement with the Guangzhou Municipality to jointly develop the123 sq km Sino-Singapore Guangzhou Knowledge City in Guangzhou, China, which will require an estimated RMB2 billion (S$411 million) investment for its 50 per cent stake.
In May, Singbridge agreed to a feasibility study with the Jilin Municipal Government to assess the commercial feasibility of jointly developing a 1,450 sq km modern agricultural and food zone in Jilin City in China. It has also acquired a 10 per cent stake in the Singapore consortium which holds a 50 per cent stake in the Tianjin Eco-city project.
Read the full report in Friday's edition of The Straits Times.
