SINGAPORE, 20 May 2011: The Singapore Business Federation (SBF) and Singapore Institute of Manufacturing Technology (SIMTech), a research institute of the Agency for Science, Technology and Research (A*STAR), today signed a memorandum of understanding (MOU) to assist local manufacturing and services companies develop R&D capabilities and foster stronger research collaboration with SIMTech.
The SBF-SIMTech MOU marks the strong partnership between the two organisations and calls for both parties to jointly promote the transfer of knowledge and expertise, organise initiatives and programmes, and identify gaps for technological enhancement to increase the competitiveness of Singapore’s manufacturing and services industries. Leveraging on SBF’s extensive network and logistic support capabilities, SIMTech will be able to build closer links with SBF member companies who are seeking advanced and cost-effective manufacturing technologies to raise their competitiveness and venture into emerging markets. The MOU will pave the way for SBF members to tap on SIMTech’s high value manufacturing technologies, training and membership programmes and obtain market insights to address the business challenges they face.
Signing on behalf of SBF, Chief Operating Officer Mr Victor Tay said, “The MOU will bridge member companies of SBF to a scientific hub where they are able to access breakthrough research findings, catalyse technology innovation projects and test their ideas. Manufacturing and services companies will now have access to first-hand knowledge on acquiring the latest technologies to undertake higher precision and higher value manufacturing activities to meet stringent performance requirements of this high growth region and gain competitive advantages over their competitors.”
Speaking at the signing ceremony, SIMTech Executive Director Dr Lim Ser Yong said, “More Singapore-based companies are keen to explore new grounds and invest in new technologies and markets but lack the expertise on licensing, intellectual property, technological and operational know-how. Through our partnership with SBF, SIMTech will be able to reach out to more companies that are interested in exploring R&D and technology licensing for growth.”
The MOU will pave the way for increased tie-ups between enterprises and SIMTech. Together with SBF, SIMTech will facilitate joint seminars, workshops and training courses such as manufacturing excellence and productivity programmes to keep SBF members abreast of best practices and sieve out suitable tools from the multitude of advanced manufacturing technologies available. Overseas study missions in the area of technology sourcing and productivity are also some of the business exchange platforms that SIMTech can organise for SBF companies to boost productivity.
Manufacturing is a key driver of the Singapore economy accounting 25 per cent of the nation’s GDP. Based on recent data released by the Economic Development Board, Singapore’s manufacturing output increased by 22 per cent in March 2011 compared to the previous year. The precision engineering output grew by 8.6 per cent year-on-year due to strong demand for semiconductor-related equipment, refrigerating and air-conditioning products and machine tool and accessories [Monthly Manufacturing Performance March 2011, EDB].
About Singapore Business Federation (SBF)
The Singapore Business Federation is the apex business chamber that champions the interests of the Singapore business community in trade, investment and industrial relations. It represents more than 17,000 companies as well as the local and foreign business chambers and key national and industry associations from business sectors that contribute significantly to the Singapore economy.
Please see the link below for more information.
About the Singapore Institute of Manufacturing Technology (SIMTech)
The Singapore Institute of Manufacturing Technology (SIMTech) is a research institute of the Science and Engineering Research Council (SERC) of the Agency for Science, Technology and Research (A*STAR). SIMTech develops high value manufacturing technology and human capital to contribute to the competitiveness of the Singapore industry. It collaborates with multinational and local companies in the precision engineering, electronics, semiconductor, medical technology, aerospace, automotive, marine, logistics and other sectors.
Please see the link below for more information.
Media Enquiries:
Singapore Business Federation
Mr Gerald De Cotta
Corporate Communications
Tel: 6827 6896
gerald(at)sbf.org.sg
Singapore Institute of Manufacturing Technology (SIMTech)
Ms Melissa Loh
Corporate Communications
Tel: 6793 8276
lohsm(at)scei.a-star.edu.sg
