Why Do It In Singapore?
06.10.2014 / Robert Liu, founder, Transerve for EnergyBoardroom.com
Robert Liu, the founder of Transerve, weighs up the pros and cons of basing his company in Singapore, when so many of his customers are based in neighboring Southeast Asian countries.
Transerve Pte Ltd is a specialist manufacturer of deployable modular structures. The company is based in Singapore and over the past 40 years, has seen the island republic move upmarket into more value-added products and services. Many regional asset owners in the marine and offshore industry had to move out into neighboring areas in search of land and cheaper labor to allow them to offer more competitive costs.
But in spite of these higher costs, last year the local shipbuilding industry secured USD 12.5 billion in sales. These involved 5,000 local companies employing a workforce of 110,000 men. Singapore thus became the major player, securing about 70 percent of the worldwide FPSO & jack-up rig market.
When an FPSO owner was asked “Why Do It In Singapore?” The answer given was “Singapore has become a one-stop center for the marine and offshore industry. Owners have come to depend on its capability and prompt response to their needs.”
As the founder of Transerve, the writer has had on many occasions wondered if it would have been better to have up-rooted its office and manufacturing elsewhere to nearby Malaysia, Indonesia or even to Thailand, where its customers are based. This could enable Transerve to secure more orders and larger projects at more competitive prices.
So really, what are the factors that matter in the long run? Well, there are various items to be considered and we thought it would be interesting to see these conditions from a project manager’s point of view. The following list covers many items that we should consider besides a competitive price!
In all cases, especially for very large projects, quality, safety, on time and on budget deliveries are just as important. So lets have a good look at what we are really paying for!
This list is by no means complete on its own and given more thought other intangibles like project shareholder confidence and bank funding as a result of lower risk, at competitive interest rates, also bear weight. Anyway, we thought it would make interesting reading and a point we can discuss later after work down at the pub!
Transerve Pte Ltd
|39 Pandan Road Jurong, Singapore 609281|
|Telephone||:||+65 6268 3069|
|Mobile No||:||+65 9109 3201|
|Fax||:||+65 6266 2324 / +65 6265 7111|