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A GROUP of 21 senior management executives from 14 Singapore's SMEs in the marine and offshore industry are heading to a power-packed overseas mission to Houston, Texas, to scout for business opportunities.
The five-day trip, organised jointly by Spring Singapore and and International Enterprise (IE) Singapore and supported by the US Commerce Service, Economic Development Board and Association of Singapore Marine Industries (ASMI), will also explore technology transfer with the Americans.
'The mission provides a good platform for these SMEs who have not penetrated the US market,' said a joint statement from Spring Singapore and IE Singapore on Monday.
'Currently, SMEs would usually secure orders via the local bases which are set up by multinational companies (MNCs) in Singapore. Now, they have the opportunity of meeting these MNCs and having direct one-to-one contact with the respective US headquarters global procurement staff.'
The SME delegation, which left on Sunday, will also be meeting established trade associations such as Petroleum Equipment Suppliers Association which is dedicated exclusively to the US oilfield service and supply sector and with first & second tier offshore equipment suppliers, research institutes and certification bodies.
In addition, the delegation will be attending the Offshore Technology Conference (OTC) in Houston - the world's foremost event for the development of oil and gas industry.
This will be the largest Singapore delegation attending the event, which ranks among the 10 largest trade shows in US (in terms of attendance), with participation from more than 110 countries.
Spearheaded by ASMI, Singapore will have its own 2,400-square feet pavilion booth at the OTC showcasing 12 companies in the Marine and Offshore industries. The Pavilion is supported by IE Singapore.
Singapore's Marine and Offshore industry has experienced rapid growth in recent years. In 2006, the local marine and offshore industry achieved a total of S$9.8 billion - up 32 per cent from S$7.4 billion in 2005.
Mr Chow Tat Kong, Group Director of Industry Development, SPRING, who is leading the 30-strong delegation said: 'Singapore has become an Asian Headquarters and manufacturing base for many leading oil and gas service MNCs. The sustained high oil prices continue to spur the demand for oil exploration and production activities in this region. This is an opportune time for our SMEs to gain first-hand insight into the market opportunities and technology developments available in the US and the world.'
Mr Tham Poh Cheong, Director for Corporate Group (Infrastructure and Environmental Services), IE Singapore added on, 'Besides facilitating large Singapore-based companies to internationalise, IE Singapore works closely with SPRING Singapore to help local SMEs expand and explore business opportunities in the key overseas markets. In addition to our broad-based services, overseas missions such as this help Singapore companies link up with relevant and potential business partners and allow them to learn about the market opportunities first-hand. We look forward to our offshore and marine companies securing successful tie-ups during this visit to Houston.'
Mr Dan Thompson, Commerce Counsellor, US Commerce Service said: 'This trade mission to the US is a win-win for both Singaporean and American companies. It opens more doors for collaborative projects and business opportunities. We hope to continue working closely with Singapore and leveraging on each other's strengths.'
One of the participating delegates, Mr Ho Gim Eng, Managing Director of Pamarine Pte Ltd, a supplier of marine safety and life-saving gears, said he hopes the mission will help expedite his expansion plans overseas.
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