Singapore Inc.: A Century of Business Success in Global Markets Strategies, Innovations, and Insights from Singapore's Top Corporations

Preface

Acknowledgements

Introduction to the book

Part I: Business strategy and transformation

1 Singapore Airlines’ response to increased competition in the airline industry

DAVID BELL

2 Singapore Post’s response to declining mail volumes

IAN JAMIESON

3 Temasek Holdings’ investment strategy

KATALIN ILLES

4 SGX- listed companies navigate corporate governance and regulatory challenges

MANJU SHREE RAMAN

5 Quest Global attracting and retaining top engineering and technical talent in a competitive market

LIM KEAI

6 How Keppel Corporation adapted to the changing global energy landscape

GEMINI V. JOY

7 TANGS catering to changing consumer preferences

JONNY MUNBY

8 Osim International evolving customer preferences

DIMITRIOS N. KOUFOPOULOS

9 How Mapletree Investments diversified its portfolio and expanded globally

KRISHNAMOORTHY RENGANATHAN

10 ComfortDelGro’s response to the rise of ride-hailing apps

R. AMUDHA

11 Creative Technology’s response to the decline of PC audio

SUBHASIS CHATTERJEE

12 MyRepublic international expansion

CHERYL YU

13 F J Benjamin challenges of being a fashion retailer

GEORGE KAPAYA

14 Neptune Orient Line (NOL) complying with the complex and stringent regulatory requirements of the shipping and logistics industry

IAN JAMIESON

15 Singapore Airlines’ response to the SARS outbreak in 2003

LEON CHOONG

16 AIBI International operates in a highly competitive market with numerous players and established brands

SUBHASIS CHATTERJEE

17 Genting Singapore’s response to increased competition in the casino industry

DIMITRIOS N. KOUFOPOULOS

Part II: Diversification and expansion

1 DBS Bank’s transformation from a local player to a global bank

LEON CHOONG

2 Sheng Siong Group’s focus on value-for-money grocery retailing

EASWARAMOORTHY RANGASWAMY

3 Sustainability initiatives and outcomes of Mapletree Commercial Trust

IAN JAMIESON

4 Fraser and Neave’s diversification into food and beverage

MELVIN GOH KIM HO

5 CapitaLand’s expansion into China

LIM KEAI

6 Hutchison Port Holdings’ expansion into new markets

CHERYL YU

7 Mapletree Investments’ diversification into logistics and data centres

NISHAD NAWAZ

8 Ascendas- Singbridge’s diversification into logistics and industrial real estate

GEORGE KAPAYA

9 ARA Asset Management’s diversification into real estate funds

DESTI KANNAIAH

10 Charles & Keith’s adaptation to the rise of e-commerce and the emergence of new digital platforms

KRISHNAMOORTHY RENGANATHAN

11 ComfortDelGro’s expansion into new markets through partnerships and acquisitions

KATALIN ILLES

12 How Fullerton Health expanded its network of clinics across Asia

GEMINI V. JOY

13 How BreadTalk grew from a single bakery to a global brand

KATALIN ILLES

14 Food Empire Holdings expanding its business to new markets

MELVIN GOH KIM HO

15 Singapore Technologies Electronics’ diversification into defence technology

LEON CHOONG

16 ST Engineering’s expansion into defence technology

DAVID BELL

17 Global expansion and service diversification: a case study of SIA Engineering Company

MATTHEW SULLIVAN

Part III: Sustainability

1 Banyan Tree Holdings challenges on being a global leader in sustainable tourism

EASWARAMOORTHY RANGASWAMY

2 Mapletree Commercial Trust’s focus on sustainable office buildings

GEMINI V. JOY

3 Sembcorp Industries’ focus on sustainable energy solutions

LIM CHIN GUAN

4 City Developments Limited’s focus on sustainable urban development

LIM KEAI

5 Wilmar International’s focus on sustainable palm oil production

JAKIA RAJOANA

6 Suntec Real Estate Investment Trust’s focus on sustainable buildings

DAVID BELL

7 Ascendas Real Estate Investment Trust’s focus on sustainable business parks

AMIN HOSSEINIAN FAR

8 Ascott Residence Trust’s focus on sustainable serviced apartments

JONNY MUNBY

9 SPH REIT’s focus on sustainable shopping malls

LIM CHIN GUAN

10 CapitaLand Mall Trust’s focus on sustainable retail operations

PREETHI THANKAPPAN NAIR

11 Keppel DC REIT commits to sustainable data centres

R. AMUDHA

12 Hyflux becoming a global leader in desalination and water treatment

CHOY MURPHY

13 PEC Ltd adaptation to the changing dynamics of the oil and gas industry

DESTI KANNAIAH

14 Frasers Centrepoint Trust

LIM CHIN GUAN

15 WOHA Architects designed sustainable and iconic buildings in Singapore and beyond

VIJAYAKUMAR GAJENDERAN

16 Golden Agri- Resources’ focus on sustainable palm oil production

AMIN HOSSEINIAN FAR

Part IV: Innovation and technology

1 Grab overcoming global adversities to become Southeast Asia’s leading ride- hailing and delivery company

TEOH TEIK TOE

2 OCBC Bank’s focus on digital banking services

AMIN HOSSEINIAN FAR

3 ST Engineering’s diversification into cybersecurity

LEON CHOONG

4 ST Kinetics’ diversification into robotics and autonomous systems

SAIKAT GOCHHAIT

5 SATS innovates in-flight logistics with new technology

LO WAI MENG SALLY

6 NetLink NBN Trust’s response to changing telecommunications market conditions

SENTHIL KUMAR NATARAJAN

7 Sembcorp Marine’s innovation in offshore and marine engineering

CHOY MURPHY

8 BreadTalk’s innovation in the bakery industry

SUBHASIS CHATTERJEE

9 SISTIC adaptation to the digitalisation of the entertainment industry

LIM KEAI

10 SingPost’s focus on e-commerce logistics solutions

TEOH TEIK TOE

11 Yangzijiang Shipbuilding’s focus on innovation and automation

SAMSON TAN

12 DSO National Laboratories developed advanced defence technologies for Singapore

JAKIA RAJOANA

13 StarHub’s focus on mobile and broadband services

PREETHI THANKAPPAN NAIR

14 CPG Corporation becoming one of Asia’s leading engineering and development firms

GEORGE KAPAYA

15 ComfortDelGro’s transformation journey in the face of disruptive innovation

NISHAD NAWAZ

16 ST Engineering’s focus on autonomous vehicles and drones

SENTHIL KUMAR NATARAJAN

17 Koufu maintaining quality and consistency

SAIKAT GOCHHAIT

Part V: Financial performance and risk management

1 SMRT’s response to increased competition in the public transport sector

NADEEM AFTAB

2 Dairy Farm International’s expansion into e-commerce

GUO YONGSHENG

3 Vicom overcoming the challenges of the automotive testing industry

EASWARAMOORTHY RANGASWAMY

4 United Overseas Bank’s response to the global financial crisis

R. AMUDHA

5 Jardine Matheson Holdings’ response to changing market conditions

KRISHNAMOORTHY RENGANATHAN

6 Parkway Pantai’s challenges and opportunities of being a healthcare provider

JAKIA RAJOANA

7 The UOL Group’s case study challenges of being a real estate developer

GUO YONGSHENG

8 GlobalRoam maintaining its financial sustainability and profitability

JONNY MUNBY

9 Great Eastern Life faced challenges in attracting and retaining talent

HALA MANSOUR

10 Dairy Farm Group’s focus on retail and hospitality operations

PREETHI THANKAPPAN NAIR

11 Certis CISCO faced a shrinking market in the security industry, which was increasingly commoditised and faced downward price pressures

DESTI KANNAIAH

12 HRnetGroup overcoming challenges in the human resources industry

NADEEM AFTAB

13 Manulife Singapore challenges of being a financial services provider

TEOH TEIK TOE

14 Prabal Gurung challenges of being a fashion designer

CHOY MURPHY

15 SGAG monetisation and revenue generation

NADEEM AFTAB

16 Pacific Century Regional Developments Limited: the dot-com crash

NISHAD NAWAZ

17 Scoot faced challenges in building brand awareness and loyalty

MATTHEW SULLIVAN

Part IV: Industry- specific challenges and opportunities

1 SMU challenges of being an education provider

JONNY MUNBY

2 YCH Group challenges and opportunities of being a logistics provider

SAMSON TAN

3 PSA Corporation managed the growth of Singapore’s port to become a global hub

EASWARAMOORTHY RANGASWAMY

4 Jurong Shipyard overcame the challenges of the oil and gas industry

MATTHEW SULLIVAN

5 Razer’s transition from gaming peripherals to mobile gaming

CHOY MURPHY

6 City Energy adapted to the liberalisation of Singapore’s gas market

SAMSON TAN

7 NTUC FairPrice’s challenges to becoming Singapore’s largest supermarket chain

MELVIN GOH KIM HO

8 Changi Airport Group’s challenges in managing the growth of Singapore’s award-winning airport

MATTHEW SULLIVAN

9 Singapore Tourism Board promoting Singapore as a global tourist destination

GUO YONGSHENG

10 Best World International overcoming regulatory challenges in the direct selling industry

DIMITRIOS N. KOUFOPOULOS

11 TOYOGO overcoming increasing competitions, societal expectations shift, and rising cost

CHERYL YU

12 Carousell expanding in new markets outside of Singapore

SAIKAT GOCHHAIT

13 Singapore Press Holdings’ response to declining print media revenue

NISHAD NAWAZ

14 SATS’ expansion into airport management and catering services

HALA MANSOUR

15 The challenges and opportunities of being a REIT: the Ascott Limited

KATALIN ILLES

16 Far East Hospitality’s challenges and opportunities of being a hospitality provider

LO WAI MENG SALLY

Index

Biography

Leon Choong, Amity’s Regional CEO, is a dynamic advocate for educational innovation and access to quality education. Adept at establishing successful institutions, supporting healthcare initiatives, and raising substantial funds for universities, he is dedicated to making a positive impact in the field of education.

Easwaramoorthy Rangaswamy, Principal and Provost at Amity Global Institute, Singapore, is an esteemed management professional. He has taught for University of Northampton, Anglia Ruskin University, University of London, London School of Economics, and Victoria University. His research focus includes management, skills, and workforce development.

Ian Jamieson, Director of Global Business Development at University of London, spearheaded transformative restructuring and expansion as Group MD at GHC Genetics Group. With a venture capital background, he excels in commercialising university ventures, exploiting IP, and established a lucrative multi-million-pound genetics testing business.

Anne-Marie Kilday, Vice Chancellor of University of Northampton, is a renowned expert in criminal history. She held leadership positions at prestigious universities and publishes extensively on violent behaviour and gendered criminality. Her expertise spans centuries and continents, making her a sought-after doctoral research supervisor.

"Short and powerful, these concise case studies provide quick yet impactful lessons on successful business strategies in Singapore."
Kirpal Singh, Colombo Plan Scholar, Singapore Management University, Nanyang Technological University

"Gain a unique perspective on the dynamic Singaporean business landscape and learn from the triumphs and failures of renowned companies."
Claudius Ng, Senior Industry Transformation Advisor to Singapore Business Federation; Past President, Singapore Chamber of E-Commerce

"Uncover the strategies behind Singapore's success as a global business hub through illuminating case studies and in-depth analysis."
Dennis Yeo, Head of Investor Services and Logistics & Industrial, Asia Pacific at Cushman & Wakefield