Companies Show Keen interest in Hinterland Strategy
SiTF’s Singapore Enterprise Chapter (SEC) Chairman, Mr Jeremy Tan, giving the welcome address
As part of the regionalisation plan for companies in Singapore, SiTF’s Singapore Enterprise Chapter (SEC), held an “Invest in Penang” seminar on 27 January, 2016. The two-hour session was well attended by more than 20 companies, who were keen to explore the idea of setting up business operations in Penang. The seminar was co-organized by InvestPenang.
The programme started with a welcome address from SEC Chairman Mr Jeremy Tan, followed by presentations by InvestPenang head Dato’ Lee Kah Choon and Mr Michael Warren Malaysia’s Multimedia Development Corporation’s (MDec) Vice-President of Global Business Services.
InvestPenang Dato’ Lee Kah Choon presenting “Discovering Investment Opportunities for Global Business Services & Information in Penang”
Dato’ Lee shared the overall outlook on Penang, such as the creation of high income jobs in R&D, engineering and product design, market research and analysis. He identified the key areas that differentiate Penang from other Malaysian states:
- Availability of talent: there is critical mass of multi-lingual, multi-cultural and experienced talent
- Competitive cost of living and doing business: there is relatively low staff turnover, office rental, salary and living cost
- Conducive business environment: there is a blend of cultural and modern living with good connectivity and infrastructure support.
Mr Warren emphasized that the shared services and outsourcing landscape in Penang is cost effective and culturally appealing. There are value added services available which can help companies grow their businesses easily.
Vice President Michael Warren presenting “The Malaysian Shared Services & Outsourcing (SSO) industry”
At the end of the programme, Mr Tan thanked InvestPenang and MDec for their support.
“Faced with higher operating, manpower and talent costs in Singapore, companies would need to re-strategise their location in order to support big projects while maintaining their base here in Singapore”, said Mr Tan.
During the Q&A session, guests raised questions on manpower, talent scouting and ease of doing business in Penang.
Guests networking after the session
For more information on this session, or on SiTF membership, please email Alicia at email@example.com