Mrs Tan Ching Yee, Chief Executive Officer, Infocomm Development Authority of Singapore - Opening Address Launch of Singapore Pitstop Centre, Blk 19 Kallang Avenue, ECS Holdings ...
Mrs Tan Ching Yee, Chief Executive Officer, Infocomm Development Authority of Singapore - Opening Address
Launch of Singapore Pitstop Centre, Blk 19 Kallang Avenue, ECS Holdings
Singapore, 23 September 2003
Good morning,
Mr Tan Choon Seng, Vice President and Managing Director, Southeast Asia, Hewlett-Packard,
Mr Keith Budge, Regional Managing Director, South Asia Region, Oracle Corporation,
Mr Tay Eng Hoe, Group Chief Executive Officer, ECS Holdings Limited,
Ladies and Gentlemen.
I am delighted to be here this morning at the launch of the Singapore PITSTOP Centre, the first of 5 regional PITSTOP centers to open within the next few weeks. PITSTOP stands for "Partners Innovative Technology and Solutions Centres".
The link to Formula One racing is deliberate. Competing in the Infocomm industry is like being in a Formula One race. Each F1 Circuit is different and presents a different set of challenges. Today you can be the champion but tomorrow your competitor may emerge the winner. The only way to increase the odds of winning is to ensure a perfect match between man and machine. This in turn involves many parties, from the designer of the car through the mechanics and the skills and psychological preparedness of the driver. Returning to the infocomm and business worlds, what we need to win is a winning combination of partners.
Through its infocomm Local Industry Upgrading Programme (iLIUP), IDA has been match-making MNCs with local infocomm companies. The partners have gained much from such match-making. MNCs get access to innovative products and ideas. The local companies gain exposure to cutting edge technologies and tap on MNC partners' established networks of technical and marketing expertise. Winning combinations of iLIUP partners have opened many new business opportunities.
Today, two of our iLIUP MNC partners, HP and Oracle, are joining hands to invest US$10 million, with a further investment of US$2 million from their partners around South East Asia, to provide a regional support infrastructure for Independent Software Vendors (ISVs). Five PITSTOP centers will be set up in the region to help Independent Software Vendors develop technology capability, showcase their solutions and gain access to overseas markets. Among these vendors will be HP's and Oracle's iLIUP partners from Singapore.
The Singapore PITSTOP Centre will be managed by AStar Technology, a wholly owned subsidiary of ECS Holdings Ltd.
The PITSTOP regional initiative is projected to generate up to US$100 million for HP's and Oracle's partners over the next five years, of which up to US$27 million export revenues will be achieved through 50 iLIUP partners. This supports IDA's goal of doubling export revenue of Singapore-based infocomm companies within a decade. The five regional centres will facilitate localised product development and testing, faster time-to-market and co-branding activities with the iLIUP partners.
IDA is encouraged to see key technology partners like HP and Oracle collaborate to help our local Infocomm companies develop capability and gain access to regional markets through the PITSTOP initiative. We encourage more companies to come on board to invest in partnerships in order to create greater business value. And remember, even the best Formula One driver and car in the world need to make pitstops.
On this note, I wish HP and Oracle every success in your regional roll-out of the PITSTOP initiative. For our iLIUP partners, I hope your visits to the pitstops will prepare you to go for that chequered flag!
Thank you.
.webp)