IT LIUP Conference & Exhibition '99

Mr Michael Yap, Chief Executive National Computer Board Opening Address - IT LIUP Conference & Exhibition '99

Mr Michael Yap, Chief Executive
National Computer Board
Opening Address - IT LIUP Conference & Exhibition '99
Singapore, 18 May 1999

Mr David Lim, Minister of State for Defence, and Chairman NCB, Distinguished guests, Ladies and Gentlemen

1. Good morning and welcome to the first-ever IT LIUP Conference & Exhibition.

2. The Internet has brought on dramatic changes in the way businesses operate and compete. It goes beyond extending market reach and lowering operating cost; it is causing a fundamental shift in the way businesses are conducted. The global playing field is becoming more even and the barriers to entry are coming down. Small players can now plug into the global market place, along with the big names. Whole new industries and businesses have been spawn. For example, many of the top e-companies, such as Amazon, e*Trade, eBay, and Yahoo!, did not even exist five years ago. Many of these have market capitalisations that are even larger than all our local banks combined.

3. As a result of this paradigm shift, business relationships are now becoming even more complex and fast changing. The rules of competition are being transformed. Businesses must come together actively to learn from each other and develop new partnerships dynamically. In the same breath, they will be competing, and yet collaborating.

4. The Net has made for greater parity in relationship. Small companies which are able to tap niche opportunities can have major impact on MNCs. It is a fact that many MNCs are looking to partner with the nimbler small companies, for that extra competitive edge in the new Net-centric world.

5. As such, IT LIUP is not just about transferring knowledge from one organisation to another. It is about sharing, learning and developing new business opportunities together. It is about building win-win relationships. I am indeed encouraged by the level of enthusiasm shown by both the MNCs and local partners. I am looking forward to seeing globally competitive products and services borne out of this win-win relationship.

6. Coming back to today's event. The theme is "Success through IT LIUP". We have brought together eight MNCs and 60 local companies to share their partnership experiences. While we are proud of the achievements of LIUP today, what is more important going forward is how we can work together to bring about the "buzz" of activity that is so necessary for the IT Industry to thrive. I hope the exchanges and interaction today will contribute to your future success.

7. On behalf of NCB, I would like to thank the 8 IT MNCs, and their 40 local partners, for putting in the tremendous effort to make this conference and exhibition possible.

8. I wish all of you an interesting and fruitful day ahead. It is now my pleasure to invite Mr David Lim, Minister of State for Defence and Chairman, NCB to deliver the keynote address.