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U.S. Department of State
Singapore Country Commercial Guide
Office of the Coordinator for Business Affairs


This Country Commercial Guide (CCG) presents a comprehensive look at 
Singapore's commercial environment through economic, political and 
market analysis.

The CCGs were established by recommendation of the Trade Promotion 
Coordinating Committee (TPCC), a multi-agency task force, to consolidate 
various reporting documents prepared for the U.S. business community.  
Country Commercial Guides are prepared annually at U.S. Embassies 
through the combined efforts of several U.S. government agencies.


Chapter I     Executive Summary

Chapter II    Economic Trends and Outlook

--Country Overview
--Economic Summary
--High Growth, Low Inflation
--Growth Sectors
--Trade Continues to Expand
--Singapore's "External Wing":  Investing Abroad
--Balance of Payments Surplus
--The 1995 Budget
--Prospects for 1995:  Growth Moderating But Still Strong

Chapter III   Political Environment

Chapter IV    Marketing U.S. Products and Services

--Distribution and Sales Channels
--Use of Agents and Distributors:  Finding A Partner
--Direct Marketing
--Joint Ventures/Licensing
--Steps to Establishing An Office
--Advertising and Sales Promotion
--Pricing Product
--Sales Service/Customer Support
--Selling to the Government
--Need For A Local Attorney
--Agricultural Products

Chapter V     Leading Sectors for U.S. Exports and Investment

--Best Prospects for Non-Agricultural Goods and Services
    Consumer Goods
    Defense Trade
    Singapore As A Regional Distribution Center
    20 Best Prospect Sector Profiles
--Best Prospects for Agricultural Goods and Services
    5 Best Prospect Sector Profiles
--Significant Investment Opportunities

Chapter VI    Trade Regulations and Standards

--Trade Barriers
--Customs Valuations
--Import Licenses
--Export Controls
--Import/Export Documentation
--Temporary Entry
--Labeling, Marking Requirements
--Prohibited Imports
--Free Trade Zones/Warehouses
--Special Import Provisions
--Membership in Free Trade Arrangements

Chapter VII   Investment Climate

--Investment Policy
--Openness to Foreign Investment
--Taxes and Duties
--Conversion and Transfer Policies
--Performance Requirements/Incentives
--Rights of Ownership and Establishment
--Regulatory System
--Labor Conditions
--Efficient Capital Markets and Portfolio Investment
--Capital Outflow Policy
--Expropriation and Compensation/Dispute Settlement
--Acquisitions, Mergers and Takeovers
--Investment Incentives
--Incentives for Local Companies
--Protection of Property Rights
--Political Violence
--Bilateral Investment Agreements
--OPIC and Other Investment Insurance Programs
--Foreign Investment Statistics

Chapter VIII  Trade and Project Financing

--Brief Description of Banking System
--Foreign Exchange Controls Affecting Trading
--Sources of Financing
--U.S. Banks in Singapore

Chapter IX    Business Travel

--Business Customs
--Travel Advisory and Visas
--Business Hours
--Communications and Power
--Money and Currency
--Visas and Travel Documents
--Holiday Schedule

Chapter X    Appendices

Appendix A:  Country Data
Appendix B:  Domestic Economy
Appendix C:  Trade
Appendix D:  Investment Statistics
Appendix E:  U.S. and Country Contacts
Appendix F:  Market Research
Appendix G:  FY 1996 Trade Event Schedule
Appendix H:  Intellectual Property Laws
Appendix I:  Singapore Investment Incentives

Chapter I.  Executive Summary

Singapore was the United States' tenth largest export market in 1994; a 
bigger customer than better known markets such as Hong Kong, Indonesia, 
Italy or Spain.  Singapore boasts one of the most developed industrial, 
commercial, financial and consumer economies in the world and is an 
excellent market for U.S. products.  Singapore's role as the gateway to 
Southeast Asia means that almost any American product can find an 
interested buyer here, either for Singapore itself or for one of 
Singapore's own trading partners in the booming Southeast Asian region. 
Shipments from the U.S. accounted for about $15.9 billion or 15.2 
percent of Singapore's total imports in 1994, consisting largely of data 
processing machines, electronic components, chemicals, and aircraft and 

Singapore is overwhelmingly dependent on foreign trade, which totaled 
about three times the country's GDP in 1994.  Singapore maintains very 
few import duties or non-tariff barriers to trade.  The country's role 
as a regional commercial hub is underscored by the fact that about 37 
percent of Singapore's total imports are re-exported.  Singapore's major 
exports are refined petroleum products, electronics and disk drives.  
Singapore's major imports consist of crude oil, petroleum products, 
electrical machinery, telecommunications equipment, office and data 
processing machines, general industrial machinery, transport equipment, 
and food.  Total trade in 1994 reached US$198.8 billion, of which 
US$102.4 billion were imports and US$96.4 billion were exports.  

Singapore buys an incredible variety of U.S. goods both for internal 
consumption and for reexport.  Many American companies use Singapore as 
their distribution center for Asia, or rely on Singapore companies to 
market their products in neighboring countries such as Malaysia, 
Indonesia, Thailand, Vietnam and the Philippines.  Singapore is a major 
entrepot and a natural gateway to Asia for American firms.  Major U.S. 
exports to Singapore include electronics, aircraft, chemicals and 
computers, but almost any U.S. product can find a buyer here.  A large 
portion of Singapore's exports to the U.S. are manufactured by U.S. 
multinational corporations (MNCs) and consist of components or semi-
finished products destined for further assembly in the United States.  

Singapore's economy, which experienced robust, double-digit real GDP 
growth in 1993 and 1994, moderated somewhat to a still impressive 7.2 
percent in the first quarter of 1995.  Continued strong demand in key 
export markets, as well as rapid growth in neighboring countries, should 
continue to fuel a sustained expansion of 7 to 8 percent per annum.  
Inflation remains low with an appreciating Singapore dollar controlling 
price increases of imported inputs.  New investment reached a record 
$3.8 billion in 1994.  Rising business costs and maintaining Singapore's 
competitive position are concerns for Singapore businesses and 
policymakers alike.  Singapore's fiscal position remains very strong 
with huge balance of payments and budget surpluses recorded each year.  
Its regional economic role is also growing as the size, diversity and 
number of its external investments expands. 

Singapore government policies and the country's excellent infrastructure 
have attracted investment from over 3,000 multinational corporations.  
Approximately 1000 U.S. companies have operations in Singapore.  Foreign 
investment accounted for about 74 percent of total investment in 
Singapore in 1994, amounting to an estimated $2.9 billion.  Singapore's 
Economic Development Board reports that U.S. investment in Singapore 
accounted for about 55 percent of total foreign investment commitments 
in 1994.
Singapore encourages investment in high value-added industries  in an 
effort to overcome Singapore's chronically tight labor market and 
maintain the Republic's competitive edge over its neighbors.  The 
Government also encourages local firms to invest abroad in the emerging 
economies of east and south Asia, in the hope that they will eventually 
become multinational corporations in their own right.  The Government is 
taking the lead by developing industrial parks in China, India and 
Indonesia.  It courts Western and Japanese business to invest in these 
parks, often as partners with local companies, and to use Singapore as a 
base for regional operations.

Country Commercial Guides are available on the National Trade Data Bank 
on CD-ROM or through the Internet.  Please contact STAT-USA or 1-800-
STAT-USA for more information.  To locate Country Commercial Guides via 
the Internet, please use the following World Wide Web address:  
WWW.STAT-USA.GOV  CCGs can also be ordered in hard copy or on diskette 
from the National Technical Information Service (NTIS) at 1-800-553-

Chapter II.  Economic Trends and Outlook

Country Overview

Singapore is a small, prosperous city-state sitting astride one of the 
world's busiest sea lanes.  Its population of 3 million has seen living 
standards rise steadily, guided by the Government's very successful 
export-driven economic strategy.  Per capita GDP reached US$16,700 in 
1994 and quality of life in the Republic has attained developed country 
standards.  The Port of Singapore - the world's second busiest in terms 
of cargo tonnage - is the key to its growing prosperity and continued 
economic health.  Because of its port, Singapore acts both as the 
trading and distribution hub for the fast-expanding economies of 
Southeast Asia, as well as the major transhipment point linking the 
region to the rest of the world.  In addition to trade, Singapore has 
established itself as an important manufacturing base, specializing in 
higher value-added production, as well as a financial center for the 
region as a whole.

Economic Summary

Singapore's economy experienced robust 10 percent real GDP growth in 
1993 and 1994.  First quarter 1995 growth moderated somewhat to a still 
impressive 7.2 percent.  Continued strong demand in key export markets, 
as well as rapid growth in neighboring countries, should continue to 
fuel a sustained expansion of 7 to 8 percent per annum.  Inflation 
remains low with an appreciating Singapore dollar controlling price 
increases of imported inputs.  New investment reached a record S$5.8 
billion (US$3.8 billion) in 1994, although rising business costs, and 
maintaining Singapore's competitive position are a concern for Singapore 
business and policymakers alike.  Singapore's fiscal position remains 
very strong with huge balance of payments and budget surpluses recorded 
each year.  Its regional economic role is also growing as the size, 
diversity and number of its external investments expands. 

High Growth, Low Inflation

Singapore, riding the crest of rapid growth in regional economies and 
sustained recoveries in key export markets, recorded 10.1 percent real 
GDP growth in 1994.  This marked the second year in a row that the city-
state's growth rate reached double-digit levels.  First quarter 1995 
growth slowed to a still impressive 7.2 percent.  This "slowdown" 
generally has been welcomed by analysts as a rate more in line with 
longterm growth projections and a sign the economy is not overheating.  
The Embassy predicts the real GDP growth rate will remain in the 8 
percent range for the remainder of 1995.
Although Singapore has seen two years of exceptional economic expansion, 
inflation has remained low.  In 1994, inflation rose slightly, from 2.4 
percent in 1993 to 3.1 percent, partly as a result of the 3 percent 
Goods and Services Tax (GST) introduced in April 1994.  The first 
quarter of 1995 saw inflation drop back to 2.5 percent and the 
expectation for the remainder of 1995 is that the rate will stay close 
to this level.  The steady appreciation of the Singapore dollar, which 
has kept the price of imports low, has been Singapore's main tool for 
controlling inflation, though there are fears it is hurting Singapore's 
export competitiveness.  The average prime lending rate rose from 5.61 
percent in 1994 to 6.49 percent at the end of March 1995.  Analysts 
expect lending rates to trend upward slowly for the remainder of the 

Growth Sectors

Manufacturing and financial/business services continue to be the most 
important sectors of the Singapore economy, making up 26.9 percent and 
29.5 percent of GDP respectively.  The construction sector - benefiting 
from a sharp rise in private sector demand - registered the fastest 
sectoral growth (15.7 percent) for 1994. 

The electronics industry remains the manufacturing sector's star 
performer, responsible for 41.9 percent of value-added in manufacturing 
and approximately 12 percent of Singapore's GDP overall.  Electronics 
output grew 21.7 percent in 1994 over 1993 and another 16.7 percent in 
the first quarter of 1995 over the same period a year earlier.  
Singapore manufactures roughly half of the world's supply of computer 
disk drives, and exports significant volumes of other computer 
peripherals, all of which have enjoyed burgeoning global demand. 

The financial services sector, which has expanded rapidly in recent 
years, grew 9 percent in 1994, down slightly from 13 percent a year 
earlier.  This scaled-back growth is attributed to a decline in stock 
market turnover in 1994.  The domestic and offshore banking, foreign 
exchange, financial futures and insurance industries, however, all 
posted strong growth in 1994. 

The first quarter of 1995 saw investment commitments in the 
manufacturing sector reach S$1 billion (US$705 million).  Two thirds of 
these commitments came from foreign companies, with the U.S. the largest 
investor at S$350 million (US$247 million).  The U.S. stock of foreign 
investment in 1993 (the most current year for complete data) is 
estimated to be US$8.8 billion, with concentrations largest in the 
petroleum, chemical and electronics industries. 

Trade Continues to Expand

Trade, historically Singapore's economic lifeline, has grown rapidly in 
recent years.  Except for the very occasional slowdown, annual levels of 
trade have regularly recorded double-digit expansion, equalling 
approximately three times GDP.  1994 was no exception as total trade 
grew 21 percent by volume and 18 percent by value to total S$303.7 
billion (US$198.8 billion).  The Port of Singapore, the Republic's 
outlet to the rest of the world, recorded over 100,000 ship arrivals and 
departures in 1994 and handled a total of 10.4 million TEUs (Twenty-Foot 
Equivalents) during the year. 

Both imports and exports expanded strongly in 1994.  Exports rose by 23 
percent to S$147.3 billion (US$96.4 billion) while imports grew 14 
percent to S$156.4 billion (US$102.4 billion).  In 1994, Malaysia 
displaced the U.S. as Singapore's largest export market, accounting for 
19.9 percent of exports, compared to 18.9 percent for the U.S.  Once 
again, Japan was the largest source of Singapore's imports, accounting 
for 22.1 percent, while the U.S. was third (behind Japan and Malaysia) 
at 15.3 percent.  Singapore's trade surplus with the U.S. in 1994 nearly 
doubled from that of a year earlier, reaching S$3.74 billion (US$2.45 

Rapid expansion continued into the first quarter of 1995, as exports and 
imports grew 26.0 percent and 13.9 percent respectively.  Non-oil 
exports, a key indicator of Singapore's economic resilience, increased 
by an impressive 24.1 percent during the first quarter of 1995, 
totalling S$19.8 billion (US$13.9 billion).  Growth was largely in 
exports of integrated circuits, microcomputers, computer parts and 
peripherals.  Oil exports for the first quarter totalled S$3.4 billion 
(US$2.4 billion), an expansion of 8.8 percent and sharply higher than 
the 3.9 percent contraction recorded in 1994.   
Staying Competitive in the Face of Rising Business Costs

One area of concern for both corporate executives and government 
policymakers has been the increasing cost of doing business in 
Singapore.  Rising wages, rents, government fees and an appreciating 
Singapore dollar - up 10 percent in 1994 against the U.S. dollar and 
another 2.9 percent in the first quarter of 1995 - have all cut into 
corporate profits.  Unit Business Costs for manufacturing (an index 
which includes wages, rents, services, and government fees) rose 5.6 
percent in the first quarter of 1995, the largest quarterly increase 
since 1991.  These increases, combined with a slower rate of 
productivity growth (2.8 percent for first quarter 1995 versus 5.3 
percent in 1994 as a whole), resulted in an erosion of Singapore's cost-
competitive position at the beginning of 1995.  Singapore has a 
chronically tight labor market which fuels rising labor costs.  The 
unemployment rate in March 1995 was 1.7 percent, down from 2.2 percent 
in December 1994, and essentially unchanged from the 1.6 percent of 
March 1994.  Real wages rose 5.2 percent in 1994, more than double the 
2.4 percent increase seen in 1993.  To meet labor demand, approximately 
18 percent of Singapore's workforce is imported from neighboring 

Singapore's strategy to address the competitive challenge is 
multifaceted: increase productivity, upgrade skills, improve its already 
first-rate infrastructure capabilities and offer a wide array of 
incentives to attract higher value-added industries.  These are all seen 
as ingredients necessary to ensure Singapore's continued economic 
prosperity in the face of stiff competition from its fast-growing, 
lower-wage neighbors. Various government bodies, including the Economic 
Development Board (EDB), the Trade Development Board (TDB) and National 
Science and Technology Board (NSTB) work closely with the private sector 
to attract new industry to Singapore and to encourage expansion by those 
that are already operating here. 

Singapore's "External Wing": Investing Abroad

Recognizing that future growth will depend on overcoming resource 
limitations and a small domestic market, the Singapore government has 
vigorously encouraged local firms to regionalize their operations and 
invest abroad.  The political leadership, including Prime Minister Goh 
Chok Tong, Senior Minister Lee Kuan Yew and Deputy Prime Minister BG Lee 
Hsien Loong, have all strongly supported these efforts and have 
personally led Singaporean business delegations to a wide range of 
countries promoting outward investment.  Although the Government 
continues to encourage Singaporean companies to invest in industrialized 
economies as a means of boosting Singapore's technological capabilities, 
the fast-growing markets of Asia have been given a higher public profile 
in recent years. 

Singapore's total direct investment abroad grew to S$28.2 billion 
(US$17.5 billion) by the end of 1993.  This was an increase of 25.5 
percent over 1992.  Manufacturing companies (S$6.7 billion, US$4.1 
billion) and financial companies (S$8.9 billion, US$5.5 billion), were 
the largest overseas investors, accounting for 73.9 percent of the 
total.  As a sign of its growing preference to invest in Asia, by the 
end of 1993 54 percent of Singapore's direct equity investments abroad 
were in Asia, compared to 49-52 percent between 1990-1992.  More than a 
quarter of Singapore's total direct equity investments abroad were in 
ASEAN members, with Malaysia as Singapore's number one investment 
destination at S$4.7 billion (US$2.9 billion), 21.9 percent of the 
total.  Hong Kong was second with S$4.0 billion (US$2.5 billion) or 19.0 
percent, followed by the Netherlands Antilles, S$2.8 billion (US$1.7 
billion), and the U.S., S$1.8 billion (US$1.1 billion).
Through many of its "government-linked companies" (companies in which 
the Government has an equity stake) as well as private local companies, 
the Government has given special attention to a series of high profile 
joint venture projects in a variety of Asian countries including 
Indonesia, India, and, most prominently, China.  All of these projects 
draw on Singapore's strengths in logistics, planning and management.  
The largest of these projects is the 70 sq. km. industrial township 
currently being built by a joint Singapore-China consortium near Suzhou, 
China.  Other large projects include the Batam Industrial Park and 
Bintan Industrial Estate in Indonesia, the Bangalore Information 
Technology Park in India, the Wuxi-Singapore Industrial Park in China 
and a host of port and airport expansion projects throughout the region. 

Balance of Payments Surplus

Singapore's balance of payments (BOP) surplus - which reached a record 
S$12.2 billion (US$7.6 billion) in 1993 - fell to S$7.3 billion (US$4.8 
billion) in 1994, mainly due to a drop in the capital account surplus 
reflecting reduced monetary inflows and accelerated outflows of 
Singapore investments abroad, and an increase in unidentified outflows.  
Singapore's current account surplus increased from S$8.4 billion (US$5.2 
billion) in 1993 to S$18.3 billion (US$12.0 billion) in 1994 mainly due 
to a 23 percent increase in non-oil exports, particularly electronics 
exports, and moderation of non-oil imports.  Total official reserves 
grew to S$85.2 billion (US$58.2 billion) at the end of 1994, equal to 
6.5 months of imports.  

The first quarter 1995 BOP surplus increased to S$2 billion (US$1.4 
billion), up from S$1.2 billion (US$816 million) during the last quarter 
of 1994, reflecting a sharp turnaround in the monetary capital account.  
The current account surplus grew to S$6.1 billion (US$4.3 billion) for 
the first quarter of 1995, more than triple the level of a year earlier.  
The capital account balance switched from a net outflow of S$2.4 billion 
(US$1.6 billion) in the fourth quarter of 1994 to a net inflow of S$3.8 
billion (US$2.7 billion) in the first quarter of 1995 as banks reduced 
their foreign lending in the face of turmoil in international foreign 
exchange markets.  

The 1995 Budget

The FY 1995 budget increased government spending for development 
(education, public housing, infrastructure, hospitals and defense) by 46 
percent to S$6.7 billion (US$4.7 billion), while returning S$1 billion 
(US$705 million) of FY 1994's S$7 billion (US$4.6 billion) budget 
surplus to Singaporeans in the form of personal income tax rebates and 
government contributions to housing and retirement schemes.  With two 
years of double-digit GDP growth just completed and business expansion 
still strong, the Government decided to postpone any new corporate or 
personal income tax cuts, saying they were unnecessary in the current 
business environment.  The new budget also contains a number of new 
incentives aimed at expanding the fast-growing financial sector, as well 
as several additional provisions to encourage Singaporean companies to 
venture abroad. 

The Government's operating revenue is expected to rise 8.6 percent to 
S$24.2 billion (US$17.3 billion), or about 21.3 percent of GDP.  With 
total expenditure estimated to increase 21.1 percent to S$18.5 billion 
(US$13.3 billion), or 16.3 percent of GDP, the Government will have an 
operating budget surplus of S$5.7 billion (US$4.1 billion).  The overall 
budget surplus, however, is projected to be much larger - approximately 
S$9.3 billion (US$6.7 billion) - after the Government adds investment 
income and capital receipts to its coffers. 

Prospects for 1995: Growth Moderating But Still Strong

The Embassy expects Singapore's GDP to expand in real terms between 7 
and 8 percent in 1995.  Official pronouncements by the Singapore 
government have strongly hinted that the double digit growth experienced 
in 1993 and 1994 can no longer be sustained nor is desirable.  Business 
expectations, nevertheless, remain very optimistic.  In a survey of 
business expectations conducted by the Ministry of Trade and Industry, 
all industries polled, with the exception of the chemical and textile 
industries, expect strong growth in the months ahead. 

Singapore, more than any other country, relies on external demand to 
power its economic expansion.  In the first quarter of 1995, external 
demand accounted for 98 percent of total demand growth.  As long as the 
world economy continues on its current expansionary track, its Asian 
neighbors continue to grow, and Singapore contains upward cost 
pressures, the prospects for the next several years will remain bright.

Chapter III.  Political Environment

Singapore is a parliamentary republic that prides itself on political 
stability and the predictability this offers to foreign investors and 
traders.  Following independence in 1965, the country's basic economic 
strategy was molded by former Prime Minister Lee Kuan Yew, who stepped 
aside in November 1990 after 24 years on the job.  The political 
succession was achieved with what some observers called "clockwork-like" 

Mr. Lee's policies have changed little under his successor, 54-year-old 
Goh Chok Tong.  Moreover, Lee Kuan Yew continues to exercise 
considerable influence as head of the dominant People's Action Party 
(PAP) and as Senior Minister, a Cabinet position created expressly for 
him.  Thus, Singapore's political leadership remains dedicated to free-
market principles and to maintaining a first-rate infrastructure and 
labor force.

The PAP's dominance was confirmed by results of the most recent General 
Election, held in August 1991, in which it secured 77 out of 81 seats in 
Singapore's single chamber Parliament.  However, the opposition emerged 
with an unprecedented net gain of three parliamentary seats, which 
jolted the country's leadership out of its complacency.  A by-election 
held December 29, 1992 and a Presidential Election in August 1993 
confirmed the popular support for the PAP establishment.  The opposition 
is not expected to upset the PAP's dominance at any time in the 
foreseeable future.

Chapter IV.  Marketing U.S. Products and Services

Distribution and Sales Channels
Singapore's distribution and sales channels are simple and direct.  Most 
consumer goods are imported by stocking distributors who resell to 
retailers.  Some goods are imported directly for sale in the importer's 
own retail outlets.  Depending on the type of product, importer markups 
range from 20-40 percent, while retail markups are often more than 100 
percent.  Industrial goods are brought in by stocking distributors, who 
add on at least 20 percent before sale to end-users, or by agents, whose 
commissions generally run about 7-10 percent.  These markups are very 
approximate, and will vary widely, depending on the product and the 
contractual relationship in question.  

Use of Agents and Distributors:  Finding a Partner
Many American exporters use agents or distributors to serve the 
Singapore market and other markets in the rest of Southeast Asia.  
Finding prospective partners is easy.  Singapore firms are aggressive 
when it comes to representing new products and usually respond 
enthusiastically to new opportunities.  Most American companies that use 
U.S. & Foreign Commercial Service (USFCS) business programs in Singapore 
find several interested agents or distributors.  USFCS Singapore offers 
a wide range of business programs and has an excellent record of success 
in introducing U.S. firms to the market.

Franchising is growing in popularity.  Many cash-rich Singapore firms 
are looking for new growth opportunities and are interested in American 
franchise concepts.  Franchisees in Singapore are often private 
individuals or family operations who buy franchises that are related to 
their current business.  Franchisees usually buy franchise licenses for 
the Southeast Asia region and not just for Singapore alone.  Most 
franchisees finance their purchases of franchises through personal 
savings, bank loans or pooling resources from family members.  See the 
Best Prospects section in Chapter V for details on the franchising 
sector in Singapore.

Direct Marketing
The direct marketing industry in Singapore began about 10 years ago and 
now includes direct mail, telemarketing and television sales.  Direct 
marketing through television began two years ago but is growing very 
fast.  There are approximately 20 creative consultants in Singapore, 
each employing 10-20 employees, who provide advice, market research, 
mailing lists, printing and mailing services.  Five companies provide 
telemarketing services and five others are involved in direct marketing 
through television.  There are numerous computer companies, including 
IBM and Tandem and some local companies, that provide software to aid in 
direct marketing.  Typical products sold through direct marketing in 
Singapore include consumer goods such as gifts, stationery, fitness 
equipment, household appliances, bags and accessories.  Items that cost 
less than US$50 are popular and prices rarely exceed US$200 per item.  

Joint Ventures/Licensing
Most Singapore companies are open to joint venture proposals, and many 
are interested in manufacturing under license.  USFCS Singapore is 
active in matching American and Singapore firms for joint ventures not 
only in Singapore but also in the rest of Southeast Asia.

Steps to Establishing an Office
The Singapore Registry of Companies and Businesses publishes an 
excellent guide that walks the first time registrant through the process 
of establishing an office.  The process takes about one day for a sole 
proprietorship, while more complex business entities can take up to six 
weeks and will require the assistance of lawyers and accountants to help 
with incorporation documents.  One point to bear in mind is that 
registration of a company does not automatically mean that expatriate 
staff can be assigned to Singapore.  Foreign staff will need to obtain 
an employment pass from the Immigration Department.  

Selling Factors and Techniques
Price, quality and service are the main selling factors in Singapore.  
Prospective exporters to Singapore should be aware that competition is 
fierce and that buyers expect good after-sales service.  Selling 
techniques vary according to the industry or product involved, but are 
comparable to the techniques used in any other sophisticated market.

Advertising and Trade Promotion
There are many specialized trade magazines in Singapore and scores of 
trade fairs that can be used to promote U.S. goods and services.  The 
major English-language daily newspapers are the Straits Times and the 
Business Times.  The leading business magazine is Singapore Business.  
The major Chinese daily is Lian He Zao Bao.  Contact USFCS Singapore for 
a list of specialized trade magazines and trade fairs.

Pricing Product
Pricing is very competitive and bargaining is tough.  Major department 
stores and retail chains offer fixed-price merchandise, while the 
smaller shops expect buyers to bargain.  Hard bargaining is common in 
the commercial and industrial sectors as well, where buyers usually want 
a discount and vendors inflate their initial offers accordingly.  Credit 
terms of 30-60-90 days are common.  Buyers will often retain 10 percent 
of the sales price for major electronic equipment purchases until the 
vendor has installed the machine and it is performing according to 

Sales Service/Customer Support
Good sales and customer support are vital in Singapore.  The market is 
so price competitive that good sales support or customer service can 
make all the difference.  Unfortunately, U.S. companies have a 
reputation for not supporting their distributors adequately in 
Singapore.  Newcomers to the Singapore market should bear this in mind 
and plan accordingly.  

Selling to the Government
U.S. firms generally find Singapore to be a receptive, open, and 
lucrative market.  The Singaporean government procurement system is 
considered by most American firms to be fair and transparent.  Bidders 
must meet the specifications set out in the tender and offer the lowest 
price in order to be successful.  Government procurement regulations are 
contained in Instruction Manual 3, available from the Ministry of 
Finance or through USFCS Singapore. 

Need for a Local Attorney
U.S. and other foreign law firms are not allowed to practice law in 
Singapore.  Legal matters involving Singapore law must be handled by a 
local attorney.  A list of local law firms is available through USFCS 

Agricultural Products
Processed and pre-packaged food products are imported by more than 300 
large and small trading firms, of which about 80 are known to handle 
U.S. foods.  Imported product is brought in by importers cum agents cum 
distributors.  There are not many firms that act solely as agents or 
importers.  U.S. exporters can contact the U.S. Agricultural Trade 
Office in Singapore for lists of major importers.

A significant portion of fruit imports are overseen by the Singapore 
Fruit Exchange, which is an agglomeration of hundreds of small and large 
fruit handlers who control well over 50 percent of the market.  The 
remaining fruits are brought in by supermarkets.  Importers of fruit, 
meat and poultry also act as agents and distributors, and often assist 
end-users by helping to finance marketing efforts.  Most fruits and 
meats are sold at area hawker (food stall) centers which, because of 
their low overhead, allow Singaporeans to purchase these products at 
very reasonable prices.  Higher end products, such as U.S. frozen beef, 
are sold through supermarkets and restaurant outlets.

The Singapore retail sector is well developed and, in many ways, similar 
to that of the U.S.  Different retail chains attempt to exploit 
different market niches.  Retailers and supermarkets generally charge 
slotting or listing fees for shelf space.  The supplier may be expected 
to pay an extra discount in relation to the amount of chiller, freezer, 
or dry shelf-space needed.  An administrative fee of S$660 may also be 

Suppliers must also negotiate with the retailer on the retail sales 
price.  As a general rule, retail price margins range from 15-20 percent 
for dry product and 25-35 for frozen product.  The retailer will usually 
ask for volume discounts.  Retailers will also require that the supplier 
pay promotional fees.  The normal charge is S$330.  The supplier is 
expected to absorb a price reduction of 10-20 percent off the retail 
sales price.

Doing business with Singaporean importers is open and straightforward.  
Product quality is important but prices must be competitive.  U.S. 
exporters should remember that the size of the market dictates that most 
importers cannot handle single product containers and must depend on 
consolidators in the U.S.  Advertising is an important element of 
marketing in Singapore and publications such as Asian Retailer, Retail 
Asia and the Straits Times, one of Singapore's daily newspapers, are 
commonly used by the food trade to promote branded products.

Chapter V.  Leading Sectors for U.S. Exports and Investment

Best Prospects for Non-Agricultural Goods and Services

Singapore is continually upgrading its already excellent infrastructure.  
Current projects include a 4800 mw power plant at Tuas, a third terminal 
at Changi International Airport, a major new container port, extension 
of the subway, two light rail transit pilot projects and an additional 
cellular telephone service provider by 1997.  Major Singapore firms 
actively and successfully pursue infrastructure projects throughout the 
region and are receptive to the idea of partnerships with American 

The electronics industry's huge presence in Singapore offers an 
excellent opportunity for U.S. electronics suppliers to follow their 
domestic customers overseas.  Almost all of the major U.S. players have 
facilities here, and they are natural customers for U.S. suppliers 
willing to pursue their business.

Consumer Goods
Singapore's per capita income is about US$16,000 and its three million 
residents are an excellent market for consumer goods.  Singapore hosts 
more than six million visitors each year, and its impact on the consumer 
goods market extends far beyond its boundaries, both in terms of actual 
sales and as a role model for the region.   

Defense Trade
U.S. exporters should not overlook Singapore's Ministry of Defense 
(MinDef) as a potential customer.  MinDef purchases military hardware 
and non-military goods and services to support one of Asia's best 
equipped armed forces.  MinDef's budget for FY 94 is estimated at US$4 

Singapore As A Regional Distribution Center
Small and medium-sized U.S. manufacturers can take advantage of 
Singapore's many trading companies to penetrate the growing economies in 
this region.  Singapore is home to hundreds of trading companies that 
have extensive family and business connections throughout Southeast 
Asia.  These trading companies handle a wide variety of products and can 
introduce American goods throughout Southeast Asia.  Some 3600 U.S. 
companies already have representatives in Singapore, many of whom have a 
regional focus.

(Exchange rates are S$ per US$1.)

1 - Electronic Components (ELC)

Electronics is a major industry in Singapore, accounting for 45.4  
percent (or S$26.5 billion) of manufacturing output and 33.1 percent of 
its employment.  Investments by foreign multinational corporations in 
Singapore's electronics industry amounted to S$1 billion in 1994. The 
Singapore Government expects the electronics industry to continue to 
post strong growth in 1995 and this should generate a high demand for 
U.S. components.  The major U.S. competitors are foreign suppliers from 
Japan, Malaysia, Taiwan and Hong Kong.  Singapore's imports exceed total 
market size, reflecting Singapore's important role as an entrepot.  Most 
promising subsectors include integrated circuits, memory chips, ASICs, 
DRAMs, disk drives, wafers, diodes, and transistors.
                              1994        1995       1996

A. Total Market Size         16490       19787      23744
B. Total Local Production    16334       19600      23520
C. Total Exports             16468       19761      23713
D. Total Imports             16624       19948      23937
E. Imports from the U.S.      3008        3609       4330
F. Exchange Rate               1.5         1.4        1.4

The above statistics are unofficial estimates. 

2 - Aircraft and Parts (AIR)

Singapore's aerospace industry, comprising primarily repair and overhaul 
operations, continued to remain competitive in 1994, enabling it to gain 
ground in the growing Asia-Pacific civil aviation market. 

The output of Singapore's aerospace industry rose 4.8 percent to US$893 
million in 1994.  Repair and overhaul accounted for 89 percent of total 
output. Manufacturing operations made up the remaining 11 percent, 
including areas like constant speed drives, engine and aircraft 
structural components, and avionics equipment.  Aerospace is one of the 
high value-added industries targeted by the Singapore Government in its 
"National Technology Plan" for development.  Singapore is evolving into 
a world class aero-component manufacturing and overhaul center for the 
world market.  The aircraft component overhaul and manufacturing 
industry has grown steadily at 10 percent annually over the last five 
years, and is expected to continue growing at an accelerated pace well 
into the 21st century.  Including its SilkAir subsidiary, Singapore 
Airlines currently has a fleet of 74 aircraft and it expects to continue 
expanding to meet growing passenger demand in the Asia-Pacific region 
and beyond.  SIA plans to almost double its aircraft fleet by 2003.  
Most promising subsectors are airplanes and aircraft components.

                              1994      1995       1996

A. Total Market Size          1514      1666       1833
B. Total Local Production       98       108        119
C. Total Exports               236       259        285
D. Total Imports              1652      1817       1999
E. Total Imports from U.S.    1404      1544       1698
F. Exchange Rate               1.5       1.4        1.4

The above statistics are unofficial estimates. 

3 - Industrial Process Control (PCI)

Optimism in this sector is due to buoyant growth of 13 percent in the 
manufacturing industry in 1994.  Growth in industries such as petroleum 
refineries and petroleum products, cement, concrete products, plastics, 
and electronic components has been at double digit levels for the past 
three years.  Process control equipment for these industries have good 
sales prospects.  Receptivity to U.S. equipment is very good as the 
United States is perceived as the leader in this field.  However, U.S. 
companies are thought to lag behind in marketing support when compared 
to major competitors like Japan and Germany.

                                1993      1994      1995

A. Total Market Size            1248       1435       1650
B. Total Local Production        543        597        660
C. Total Exports                1112       1252       1410
D. Total Imports                1817       2090       2400
E. Total Imp. from U.S.          759        835        915
F. Exchange Rate                 1.5        1.4        1.4

The above statistics are unofficial estimates.

4  - Oil/Gas Field Machinery (OGM)

Singapore's oil and gas industry has seen major investments in the 
downstream sector with the development of a second petrochemical complex 
estimated to cost US$2.1 billion. Other investments include a US$120 
million fuel oil refinery, a US$900 million aromatics complex, a US$1.3 
billion catalytic cracker and US$250 million worth of facilities 
upgrading.  With such heavy investments, the oil and gas sector will 
continue to provide a steady demand for material supply and engineering 
services. Since the recent appreciation of the Japanese yen, U.S. 
products in the oil and gas sector have become more competitive.  Most 
promising subsectors:  Pumps, Valves, Instrumentation, Piping and 
Fittings and Engineering Services         

                               1994       1995       1996

A. Total Market Size            490        539        593
B. Total Local Production        98        108        119
C. Total Exports                588        647        712
D. Total Imports                980       1078       1186
E. Total Imports from U.S.      426        468        515
F. Exchange Rate                1.5        1.4        1.4

The above statistics are unofficial figures.

5 - Electronics Industry Production/Testing Equipment (EIP)

Singapore is an excellent market for U.S. suppliers of production and 
testing equipment for the electronics industry.  It is the world's 
largest manufacturer of disk drives and is a major producer of computers 
and consumer electronics.  There are more than 257 firms in Singapore's 
electronics industry, with multinational corporations playing an 
integral role.  With a thriving electronics industry in Singapore and 
growing electronics manufacturing centers in the region, there are 
excellent opportunities for U.S. firms to sell their products to 
Singapore and through Singapore to the surrounding region.  Major 
equipment suppliers include those from the U.S., Japan, and Europe.  
Most promising subsectors include semiconductor fabrication/testing 
equipment, disk drive fabrication/testing, and PCBA fabrication/testing 

                                 1994       1995       1996

A. Total Market Size            1436       1580       1737
B. Total Local Production        430        473        520
C. Total Exports                 729        801        882
D. Total Imports                1734       1908       2099
E. Imports from the U.S.         412        453        498
F. Exchange Rate                 1.5        1.4        1.4

The above statistics are unofficial estimates.

6 - Construction Equipment (CON)

The construction sector was a major contributor to the strength of the 
Singapore economy in 1994.  Construction demand for 1994, in terms of 
contracts awarded, was US$7.53 billion.  This is a 7 percent increase 
over 1993's US$7.06 billion.  The outlook for the industry in 1995 is 
promising, pointing to a full-year figure of US$8.64 billion in value of 
construction projects.  The Singapore Government is the main force 
behind this healthy construction climate, with commitments to major 
projects such as the mammoth ten-year US$9.4 billion public housing 
upgrading and retrofitting program, and several major infrastructure 
projects including hospitals, schools, business parks, as well as the 
construction and upgrading of roads, development of the airport, 
upgrading of the public utilities distribution network and reclamation 
projects.  This means that there is a tremendous scope for the supply of 
construction and earthmoving equipment to the local construction 
industry.  This is particularly so because there is no domestic 
production of construction equipment and minimal local assembly, so the 
market is dominated by imports. Most promising products are bulldozers, 
shovels/excavators and road rollers.

                                1994       1995       1996

A. Total Market Size             420        461        507
B. Total Local Production        271        298        328
C. Total Exports                 805        886        975
D. Total Imports                 954       1049       1154
E. Total Imports from U.S.       369        406        447
F. Exchange Rate                 1.5        1.4        1.4

The above statistics are unofficial estimates.

7 - Laboratory & Scientific Instruments (LAB)

The Singapore government is actively supporting the manufacturing 
industry to upgrade and introduce new technologies.  Government spending 
in research and development in 1992 reached US$583 million.  Under the 
National Technology Plan, the Singapore Government aims to increase 
spending to 2 percent of 1995 GDP, which is projected to reach more than 
US$50 billion.  The Singapore Government has created awareness within 
the industry of the need to obtain certification under the ISO 9000 
program.  This has boosted demand for analysis and test equipment.  The 
United States is the dominant supplier, followed by Japan and Germany.  
Demand for analyzers of chemical and physical properties, and gas 
chromatographs is expected to remain buoyant.

                                1994       1995       1996

A. Total Market Size             862        990       1140
B. Total Local Production        380        445        525
C. Total Exports                 766        890       1035
D. Total Imports                1248       1435       1650
E. Total Imp. from U.S.          512        560        600
F. Exchange Rate                 1.5        1.4        1.4

The above statistics are unofficial estimates.

8 - Franchising (FRA)

Franchising remains a popular business concept in Singapore, especially 
in established areas such as food, health and recreational services, and 
new fields such as interior decoration.  Several new townships, 
including three regional centers in the outskirts, are in development 
and will increase demand for franchise food and recreational services.  
Moreover, there has been a buoyant supply of and demand for private 
condominiums as Singaporeans upgrade their apartments, resulting in new 
demand for fitness and recreation services.  Total sales in 1994 were 
approximately US$725 million, an increase of 12 percent over 1993's 
estimated sales of US$650 million.  Singapore's Trade Development Board 
has been promoting the franchise concept and has helped launch 35 
franchises covering 21 business sectors.  In a survey of 62 franchisees, 
more than 90 percent agreed that joining a franchise had helped them and 
93 percent reported improvements in sales.  Most promising subsectors 
for 1996 include food, health and recreation, and apparel franchises. 

                                1994       1995     1996

A. Total Sales                   725       830       887
B. Sales by Local Firms           56        64        68
C. For. Sales by Local Firms      12        14        16
D. Sales by For.-Owned Firms     681       780       835
E. Sales by U.S. Firms           502       575       615
F. Exchange Rate                 1.5       1.4       1.4

The above statistics are unofficial estimates.

9 - Computer Hardware and Peripherals (CPT)

The Singapore information technology market is driven by the 
Government's plan to make the country into an "intelligent island" by 
the year 2000.  Plans are set for an information infrastructure that 
will link every home, office, factory, and school.  U.S. vendors are 
looked upon as market leaders in Singapore and will maintain their edge 
as long as they continue to introduce state-of-the-art technologies and 
products.  Singapore is not only a good market for computers and 
peripherals, but is also a major producer of such products.  Most 
promising subsectors include client-server systems and equipment, 
desktop microcomputers, disk drives, terminals, and printers.

                                1994       1995       1996

A. Total Market Size             693        833       1000
B. Total Local Production       4645       5574       6689
C. Total Exports                6154       7384       8860
D. Total Imports                2203       2643       3171
E. Imports from the U.S.         591        626        663
F. Exchange Rate                 1.5        1.4        1.4

The above statistics are unofficial estimates. 

10 - Medical Equipment (MED)

The market for medical equipment is expected to be buoyant for the next 
two years, when the Singapore Government's hospital rebuilding projects 
are scheduled for completion.  To maintain Singapore's high standard of 
healthcare, the Singapore Government has invested US$1.5 billion to 
improve hospital facilities and programs.  Private hospitals are also 
gearing up their facilities to match the Government's.  The market for 
hospital fixtures and fittings offers good potential because of the 
hospital rebuilding projects.  Demand for surgical equipment used in 
minimally invasive surgery (MIS) and day-surgery equipment should be 
strong because of the Singapore Government's emphasis on capping 
healthcare costs.  High-technology equipment also has good potential but 
it must already be proven in the medical field.  Except for syringes, 
surgical gloves, caps, gowns, and lower end products, other categories 
of medical consumables are in good demand thanks to a higher awareness 
of the need to contain infectious diseases.  Competition from Japanese 
and German manufacturers is keen.  Receptivity to U.S. equipment is high 
as the U.S. is considered to be in the forefront of medical technology.

                               1994       1995       1996

A. Total Market Size            176       210       252
B. Total Local Production       376       414       455
C. Total Exports                513       564       620
D. Total Imports                313       360       417
E. Total Imp. from U.S.         142       170       205
F. Exchange Rate                1.5       1.4       1.4

The above statistics are unofficial estimates.

11 - Telecommunications Equipment (TEL)

Singapore's continued high economic growth is linked to the quality of 
its infrastructure.  Its very survival depends on trade and links with 
the rest of the world.  The presence of over 3,000 multinational 
companies alone represents a huge demand for sophisticated 
telecommunications services.  Recognizing the critical importance of a 
high quality telecommunications network, Singapore Telecom (ST) has 
invested very heavily to ensure Singapore's telecommunications 
preeminence in the region.  ST invested US$370 million in 1994 to 
enhance and upgrade its infrastructure and services.  The result of this 
heavy investment is a telecommunications infrastructure equal to or 
better than any in the world.  Singapore's telecommunications 
infrastructure will be enhanced by additional investments from the newly 
licensed cellular mobile phone and radio paging operators.  This will 
create more opportunities for the supply of telecommunications equipment 
to Singapore, particularly in areas related to Intelligent Network 
Systems, Broadband ISDN Network as well as transmitters & transmitter-
receivers and telephone sets.  

                               1994       1995       1996

A. Total Market Size            3761       4081       4425
B. Total Local Production       4880       5368       5905
C. Total Exports                6174       7100       8165
D. Total Imports                5055       5813       6685
E. Total Imports from U.S.       320        352        387
F. Exchange Rate                 1.5        1.4        1.4

The above statistics are unofficial estimates.

12  -  Pumps, Valves/Compressors (PVC)

This sector is expected to grow about five percent over the next year.  
Strong demand for pumps, valves and compressors is expected to come from 
the chemical process, oil and gas, power generation and environmental 
sectors.  The Singapore market is small compared to that of the region.  
From the trade statistics it can be seen that total exports represent 
approximately seventy percent of total imports in this sector.  Re-
exports are expected to grow substantially in the medium to long term as 
the regional economies continue to industrialize.  Most promising 
subsectors include:  Centrifugal Pumps, Compressors for Refrigerating 
Equipment, Pressure Reducing Valves, and Safety Valves.

                                1994       1995       1996

A. Total Market Size             941        988       1037
B. Total Local Production        475        499        524
C. Total Exports                1062       1115       1171
D. Total Imports                1528       1604       1684
E. Total Imports from U.S.       378        396        416
F. Exchange Rate                 1.5        1.4        1.4

The above statistics are unofficial figures.

13  - Pollution Control Equipment (POL)

Industry analysts estimate that the Ministry of Environment (ENV) will 
spend approximately US$2 billion on infrastructure projects by the end 
of the decade. Projects will include the fourth incinerator, the 
existing works on sewage tank covers and a landfill project on a nearby 
island.  Other potential projects will include measures to provide 
filtered air in buildings and better technologies in treating solid 
wastes.  In the private sector companies such as Shell, Dupont and GE 
Plastic are investing in technologies to control pollution in their 
plants. ENV also has a private arm called SEMES involved in 
environmental projects in the region.  Most promising subsectors: 
Instrumentation and Monitoring Equipment, Filtering and Purifying 
Equipment, Fan Blowers, Environmental Engineering Services, and Waste 
Treatment Facilities.

                                1994       1995       1996
A. Total Market Size            500       540       583
B. Total Local Production        96       104       112
C. Total Exports                224       242       261
D. Total Imports                628       678       732
E. Total Imports from U.S.      200       216       233
F. Exchange Rate                1.5       1.4       1.4

The above statistics are unofficial estimates.

14  - Electrical Power Systems (ELP)

With the award of the first phase of development in the Tuas Power 
Plant, the Public Utilities Board (PUB) is progressing on schedule to 
complete the project by year 2005.  Implementation of this 4,800 mw 
power plant will require a steady stream of products and services for 
the electric power sector for the next ten years.  Co-generation plants 
are also envisaged for the oil and gas industry with Shell recently 
completing a US$36 million plant.  PUB estimates that Singapore needs an 
additional 250 mw capacity each year to maintain its growing industries.  
PUB is expected to be corporatized this year and will seek to gain a 
foothold in Asia's expanding power generation market.  Most promising 
subsectors include: Electric Plant and Parts, Power Generators, 
Switchgears, Cables and Accessories, and Generating Sets.

                               1994       1995       1996

A. Total Market Size             886        930        976
B. Total Local Production        428        449        471
C. Total Exports                 931        977       1026
D. Total Imports                1389       1458       1531
E. Total Imports from U.S.       196        206        216
F. Exchange Rate                 1.5        1.4        1.4

The above statistics are unofficial estimates.

15 - Cosmetics & Toiletries (COS)

Demand is expected to grow by a healthy 10 percent from 1995 to 1996 due 
to increasing affluence and a greater awareness among Singaporeans of 
the benefits of maintaining a good appearance.  The strong tourist 
market, as well as re-export business, has also boosted demand.  
Prospects for perfumes, cosmetics, and skincare products remain 
promising because nearly every working woman in Singapore adopts a 
skincare and makeup routine once she enters the workforce.  Statistics 
from the Ministry of Labor show that in 1993 there were about 550,000 
economically active women.  A 1992 survey by the Labour Ministry, the 
National Productivity Board and the National Trade Union Congress 
revealed that 78 percent of the 300,000 women who did not work would be 
returning to the workforce within the next two to three years.  The 
market for male products is growing thanks to persuasive promotion and 
advertising.  Upmarket American products are still favored by consumers 
although mid-range products are slowly gaining acceptance among budget-
conscious consumers.

                                1994       1995       1996

A. Total Market Size            168       185       205
B. Total Local Production        30        31        33
C. Total Exports                278       324       378
D. Total Imports                416       478       550
E. Total Imp. from U.S.          64        75        85
F. Exchange Rate                1.5       1.4       1.4

The above statistics are unofficial estimates.

16 - Household Consumer Goods (HCG)

Singapore is a nation of homeowners.  There are 750,000 households in 
Singapore, with an average of 4 members per household.  26,000 to 30,000 
new households are formed annually.  Today, 81 percent of the population 
own the residences they live in.  164,000 new apartments and 50,000 
residential units will be built between 1995 and 2000.  With a per 
capita income of more than US$16,000 and easy access to financing, 
homeowners have money readily available to spend on household consumer 
goods.  The total market size in 1994 was US$667 million, an increase of 
6 percent over 1993's US$629 million.  Imports exceed total market due 
to substantial volume of reexports to Malaysia, Hong Kong and Thailand.  
Most promising subsectors for 1996 include household appliances, 
housewares (inclusive of cooking utensils) and floor coverings.

                               1994       1995       1996

A. Total Market Size             667        767        828
B. Total Local Production        501        576        622
C. Total Exports                 660        759        820
D. Total Imports                 826        950       1026
E. Imports from U.S.             108        124        134
F. Exchange Rate                 1.5        1.4        1.4

The above statistics are unofficial estimates.

17 - Building Products (BLD)

Singapore's construction industry is expected to do well again in 1995 
and 1996, expanding by 7 to 8 percent annually.  The construction 
industry is expected to record some US$8.64 billion worth of projects in 
1995 with the public sector expected to invest US$5.36 billion in 
infrastructure improvements.  The bulk of the public contracts will go 
to construction and retrofitting of Housing Board flats, building of 
educational and health institutions, and industrial parks.  For civil 
engineering work, the main projects are expected to be the construction 
and upgrading of roads, more development at the airport, upgrading of 
the public utilities distribution network, and land reclamation 
projects.  Although private residential contracts are expected to 
decline (due to an increasing supply), demand for commercial and 
industrial construction should remain strong.  It is projected that 
private residential contracts for 1995 will be worth some US$1.36 
billion and private commercial and industrial development will reach 
US$679 million and US$1 billion respectively.  These developments will 
provide great opportunities for U.S. firms to supply building materials 
to the Singapore construction industry, especially state-of-the-art 
building products.  

                                 1994       1995       1996

A) Total Market Size            2528       2780       3058
B) Total Local Production        635        698        768
C) Total Exports                1097       1207       1328
D) Total Imports                2990       3289       3618
E) Total Imports from U.S.        77         85         94
F) Exchange Rate                 1.5        1.4        1.4

The above statistics are unofficial estimates.       

18 - Computer Software (CSF)

The Government of Singapore has identified software development as a key 
element in its IT-2000 strategy to leapfrog into the 21st century.  
Foreign suppliers dominate the market as there are very few indigenous 
software developers in Singapore.  With the Government's push to make 
Singapore into an intelligent island by the year 2000, demand for 
computer software will continue to grow strongly.  U.S. firms, being 
industry leaders, will continue to capture the lion's share of this 
market.  Most promising subsectors include business/technical 
application software, office automation software, 
game/entertainment/educational software, and services.       

                               1994       1995       1996

A. Total Market Size            107       117       128
B. Total Local Production       298       327       359
C. Total Exports                352       387       425
D. Total Imports                161       177       194
E. Imports from the U.S.         80        88        97
F. Exchange Rate                1.5       1.4       1.4

The above statistics are unofficial estimates.

19 - Sporting Goods/Recreation Equipment (SPT)

Sports and fitness are an integral part of Singapore's lifestyle.  
Increased awareness of fitness is evident across virtually all age 
groups.  More people have the income and leisure time to participate in 
sports contests.  The Singapore Government is increasing expenditures on 
sports and recreation, such as the US$7 million Sports Excellence 2000 
scheme to help sportsmen and sportswomen achieve success in the Asian 
and Olympic games.  It is also encouraging people to give up habits that 
are detrimental to health by reducing military service requirements for 
fit male citizens and improving sports lessons taught in schools.  
Popular sports include soccer, golf, aerobics, fishing, tennis, swimming 
and boating.  Over the past year, there has been an increase in demand 
for amusement games and many amusement arcades were built.  The total 
market size in 1994 was US$186 million, an increase of 8 percent over 
1993's US$172 million.  Imports exceed total market due to the 
substantial volume of re-exports to Malaysia, Japan, Hong Kong and 
Brunei. Most promising subsectors for 1996 include golf clubs, equipment 
and balls, fishing and hunting equipment, and coin-operated amusement 

                                 1994       1995       1996

A. Total Market Size             186        216        233
B. Total Local Production         55         64         69
C. Total Exports                 136        158        171 
D. Total Imports                 267        310        335
E. Total Imp. from U.S.           70         81         87
F. Exchange Rate                 1.5        1.4        1.4

The above statistics are unofficial estimates. 

20 - Hotel and Restaurant Equipment (HTL)

Tourism is a major industry in Singapore accounting for S$6 billion or 
19.3 percent of the country's total service exports. Visitor arrivals in 
1994 rose by 7.4 percent to 6.9 million. There are currently 74 hotels 
in Singapore and according to official estimate, the number will rise to 
113 by 1998.  With new hotels coming on stream in the next few years, 
many of the older hotels are refurbishing and renovating their premises 
to meet the competition.  There are already more than 1,500 restaurants 
in Singapore.  Their rapid growth, together with growth in the hotel 
industry will result in good export potential for U.S. suppliers of 
hotel and restaurant equipment and supplies.  Many Singapore firms are 
building hotels in other countries, including China, Thailand, Vietnam, 
Indonesia, and Cambodia.  Singapore's trade data also reflect the 
country's importance as a regional distribution center.  Most promising 
subsectors include glassware, refrigerators/freezers/cold rooms, and 
labor-saving equipment.

                                1994       1995       1996

A. Total Market Size             262        275        289
B. Total Local Production        160        168        176
C. Total Exports                 325        341        358
D. Total Imports                 427        448        470
E. Imports from the U.S.          79         83         87
F. Exchange Rate                 1.5        1.4        1.4

The above statistics are unofficial estimates.        

Best Prospects for Agricultural Goods and Services

Several factors make Singapore an excellent market for consumer-oriented 
food products -- the need to import most of its food, a high per capita 
income, and a willingness to purchase imported goods.  American 
products, including major food brands, are popular among mid to upper 
income consumers.  Much of Singapore's food imports are intended for 
transshipment to other Asian markets and the Middle East.  Therefore, 
demand for food products is determined by regional as well as national 
growth.  Major import competition for consumer-oriented products comes 
from other ASEAN countries, the European Union, Australia, New Zealand, 
and China.  There are no duties on food products.

1 - Fruits & Nuts Fresh Dried (PS&D Code:  057)

Singapore is a thriving market for temperate climatic fruit.  Due to 
differences in harvesting seasons, the United States and Australia take 
turns to dominate the Singapore market for temperate climatic fruit.  
The U.S. is a major supplier of apples, oranges, grapes, plums and 
grapefruit.  With growing affluence more and more Singaporeans are 
consuming airflown perishable fruit like cherries, strawberries and 
nectarines.  Over the last five years there has been an increasing 
demand for pistachios and macadamia nuts.  Most of the imported nuts are 
repacked locally.

                                 1994       1995       1996

A. Total Market Size             215        251        292
B. Total Local Production          0          0          0
C. Total Exports                 142        149        156
D. Total Imports                 357        400        448
E. Total Imports from U.S.        82         95         109
F. Exchange Rate                 1.5        1.4        1.4

The above statistics are unofficial estimates.

2 - Cereals & Flour Preps (PS&D Code:  048)

Products for which the U.S. has good market prospects include breakfast 
cereals, biscuits, and snacks like corn chips, potato chips and extruded 
cheese products.  U.S. snack foods are perceived as being of high 
quality and therefore are able to command a premium.  The only 
competition to U.S. breakfast cereals comes from Australia.

                             1994       1995       1996

A. Total Market Size          207       225       244
B. Total Local Prod.          192       202       212
C. Total Exports              129       135       142
D. Total Imports              144       158       174
E. Total Imp. from U.S.        21        23        25
F. Exchange Rate              1.5       1.4       1.4

The above statistics are unofficial estimates.

3 - Fruit Preserved & Preps (PS&D Code:  058)

Within this category, the U.S. is a significant supplier of peanut 
butter, jams and jellies, prepared and preserved nuts, canned peaches 
and fruit cocktail.  U.S. brands in the canned fruit cocktail and 
peaches sector are recognized market leaders and are able to command 
premium prices.

                           1994       1995       1996

A. Total Market Size        36        41        47
B. Total Local Prod.         0         0         0
C. Total Exports            69        74        80
D. Total Imports           105       115       127 
E. Total Imp.from U.S.      22        25        29
F. Exchange Rate           1.5       1.4       1.4

The above statistics are unofficial estimates.

4 - Fruit & Vegetable Juices (PS&D Code:  059)

As Singapore does not produce any fruit commercially, beverage 
manufacturers import juice concentrates for local bottling and packing.  
However, local manufacturers do not retail 100% juices. Practically all 
local manufacturers market beverages that contain about 40% - 60% juice.  
Competition for U.S. juices comes from EU countries and Australia.  The 
U.S. has a good market share in orange and grapefruit juice 

                           1994       1995       1996

A. Total Market Size        19        21        24
B. Total Local Prod.         0         0         0
C. Total Exports            12        13        14
D. Total Imports            31        34        38
E. Total Imp.from U.S.       7         8         9
F. Exchange Rate           1.5       1.4       1.4

The above statistics are unofficial estimates.

5 - Sugar Confectionery (PS&D Code:  062)

Products in this category include fruit, nuts, and fruit peel products 
sweetened with sugar as well as medicated sweets and other sugar 
confectionery.  U.S. products have good prospects in the sugar 
confectionery segment because of their high quality.  Competition for 
U.S. products comes from similar products imported from the Netherlands, 
United Kingdom, Germany, Japan and Australia.

                           1994       1995       1996

A. Total Market Size        20        22        25
B. Total Local Prod.         0         0          0
C. Total Exports            26        28        30
D. Total Imports            46        50        55
E. Total Imp. from U.S.      4         5         6
F. Exchange Rate           1.5       1.4       1.4

The above statistics are unofficial estimates.

Significant Investment Opportunities

The Government of the United States acknowledges the contribution that 
foreign direct investment makes to the U.S. economy.  U.S. foreign 
direct investment is increasingly viewed as a complement or even a 
necessary component of foreign trade.  For example, roughly 60 percent 
of U.S. exports are sold by American firms that have operations abroad.  
Recognizing the benefits that U.S. outward investment brings to the U.S. 
economy, the Government of the United States undertakes initiatives, 
such as Overseas Private Investment Corporation (OPIC) programs, 
investment treaty negotiations and business facilitation programs, that 
support U.S. investors.

Foreign investment continues to pour into Singapore, much of it targeted 
on both Singapore and the other booming economies of Southeast Asia.  
Petroleum, electronics and computer manufacturing, aerospace equipment 
and services, telecommunications and financial services head the list, 
but opportunities abound as well in shipping, pharmaceuticals, 
franchising, and regional distribution of food and consumer goods.  
Singapore's own firms are aggressively pursuing regional opportunities 
in hotel and property development, light manufacturing, air 
transportation and telecommunications.  They are usually very receptive 
to joint venture proposals from American firms and, especially in the 
case of the government-linked companies, are good business partners who 
can offer excellent regional contacts and access to capital.  American 
companies considering an investment in Singapore or the region should 
contact USFCS Singapore for advice and assistance.

Chapter VI.  Trade Regulations and Standards

Trade Barriers
Singapore maintains very few trade barriers.  There are restrictions in 
a few sectors, including legal services, banking services, some 
telecommunications services, professional engineering services and trade 
in tobacco products.  However, the Government is slowly allowing more 
freedom for market forces in the economy, as can be seen in its plan to 
privatize the telecommunications and public utilities industries.  It 
has also announced that it will relax its regulations on professional 
engineering services.  In the area of intellectual property rights, the 
Singapore Government does have laws to protect against piracy and 
copyright infringement, but it relies on the private sector to take the 
lead against transgressors.  In general, Singapore maintains one of the 
most liberal trading regimes in the world. 

Customs Valuations
In Singapore, valuation for Customs purposes is based on the Brussels 
Definition of Value (BDV).  The basic principle of the BDV is that 
dutiable value is the normal price or import price of goods at the port 
or place of importation.  It pre-supposes that the sale has taken place 
in the open market between an independent buyer and seller.

Where goods are dutiable, ad valorem or specific rates may be applied.  
An ad valorem rate, which is the most commonly applied, is a percentage 
of the assessed value of the imported goods.  A specific rate is a 
particular amount per unit of weight or other quantity.

Cost, insurance, freight, handling charges and all other charges 
incidental to the sale and delivery of the goods are taken into account 
when duty is assessed. 

Exporters are required to ensure that the declared values of goods for 
Customs purposes are correct.  If the goods have been undervalued, the 
Customs and Excise Department will increase the values declared.  Severe 
penalties may be imposed on traders attempting to evade duty.

Import Licenses
Companies must make an inward declaration for all goods imported into 
Singapore.  Most goods can be imported freely without licenses. The 
import of a few items such as lighters in the shape of pistols or 
revolvers, toy currency notes, toy coins and fire crackers is also 
prohibited.  Generally, the import of goods which pose a threat to 
health, security, safety and social  decency is controlled.  Import 
licenses are required for pharmaceuticals, hazardous chemicals, films, 
arms and ammunition.  Companies that want to import controlled items 
into Singapore must apply for licenses from the appropriate government 

Export Controls
Companies must make an outward declaration to export or re-export their 
goods out of Singapore. Except for selected items, there are very few 
controls on exports of goods from Singapore. Quantitative restrictions 
exist for certain textiles and garment to Canada, EU countries and the 
US.  Items such as rubber, timber, sand, granite and chlorofluorocarbons 
are subject to export control and licensing.  Items under export control 
must be endorsed or licensed by the appropriate government agencies 
before they can be exported.

Import/Export Documentation
When goods enter or leave Singapore, companies must submit their inward 
or outward declarations to the Controller of Imports & Exports.  
Singapore introduced an electronic trade documentation system called 
Tradenet to facilitate import/export documentation. The system ensures 
that goods moving into and out of Singapore are processed with minimum 
delay.  Through Tradenet, subscribers can have their import and export 
declarations processed electronically with government agencies and local 
as well as overseas trading partners.  Companies importing and exporting 
goods in Singapore need to contact the Trade Development Board for a 
Central Registration Number.  Items under import/export control may 
either require endorsement or license before they can be processed.  
Companies should not enter into any financial or contractual obligation 
before the necessary licenses or approvals are obtained.

Temporary Entry
For goods entering Singapore on a temporary basis, companies can apply 
for an ATA Carnet with the Singapore International Chamber of Commerce.  
The ATA Carnet serves as a guarantee against payment of import 
duties/taxes should the temporary admission period be exceeded.  Goods 
imported under a carnet may not be sold and must be re-exported within 
the temporary admission period.  If the items to be imported are subject 
to controls, companies must obtain endorsement/approvals from the 
relevant government agencies before importing the goods into Singapore.

Labeling, Marking Requirements
Labels are required on imported food, drugs, liquors, paints and 
solvents and must specify the country of origin.  Repackaged foods must 
be labeled to show (in English) the appropriate designation of the food 
content printed in capital letters at least 1/16 inch high; whether 
foods are compounded, mixed or blended; the minimum quantity stated in 
metric net weight or measure; the name and address of the manufacturer 
or seller; and the country of origin. 

A description (in English) of the contents of the package may be added 
to the face of the label provided the additional language is not 
contrary to, or a modification of, any statement on the label.  
Pictorial illustrations must not mislead about the true nature or origin 
of the food.  Foods having defined standards must be labeled to conform 
to those standards and be free from added foreign substances.  Packages 
of food described as "enriched," "fortified," "vitaminized" or in any 
other way which implies that the article contains added vitamins or 
minerals must show the quantity of vitamins or minerals added per metric 

Special labels are required for certain foods, medicines and goods such 
as edible and nonedible animal fats as well as paints and solvents.  
Processed foods and pharmaceuticals must be inspected and approved by 
the Ministry of Health.  Electrical goods must be checked by the Public 
Utilities Board before they can be installed, while paints and solvents 
are the responsibility of the Chief Inspector of Factories, Ministry of 

Prohibited Imports
Imports and exports from or to Iraq and Yugoslavia (Serbia and 
Montenegro) are prohibited.  In addition, Singapore prohibits the import 
of chewing gum, firecrackers, horns, sirens, silencers, toy coins and 
currencies.  A full list of prohibited products can be obtained from the 
Trade Development Board. 

Singapore uses the metric system.  While industrial standards applied in 
the engineering and construction fields are basically those used by 
other developed countries, the Singapore Institute of Standards and 
Industrial Research (SISIR) has developed standards for certain 
electrical, sanitary and building products. SISIR is the national 
standards and certification authority.

SISIR also administers the Good Manufacturing Practice Scheme and the 
SISIR Certification Mark Scheme.  They are awarded to manufacturers 
whose quality assurance systems and products comply with the ISO 9000 
series of quality systems or the relevant Singapore standards.

Under the Consumer Protection (Safety Requirements) Regulations 1991, 17 
products (LPG systems, cooking ranges, electric irons, gas cookers, hair 
dryers, microwave ovens, televisions, video display units, video 
cassette recorders, table fans, high-fidelity equipment, immersion water 
heaters, kettles, refrigerators, rice cookers, room air-conditioners, 
vacuum cleaners and washing machines) which are potentially hazardous to 
consumers must be registered and declared safe before they can be sold 
in Singapore.  The Consumer Protection Act (CPA) mark is a compulsory 
stamp of approval given by SISIR to ensure that consumers are safe from 
hazards such as fire, explosion and electrical shock when using these 
appliances.  However, test reports issued by accredited testing 
laboratories and national certification bodies are recognized by SISIR.  
A list of accredited laboratories and national certification bodies is 
available from SISIR.  U.S. suppliers of these products planning to 
expand sales into Singapore should check with the Consumer Protection 
Agency and SISIR before exporting.

Similarly, telecommunications equipment imported for use in Singapore is 
subject to "Type-Approval" by the Telecommunication Authority of 

For the construction industry, the Construction Industry Development 
Board (CIDB) has introduced the Construction Quality Assessment System 
(CONQUAS).  CONQUAS is an objective method of rating building works.  
The system examines the contractor's work in three areas: structural (40 
points), architectural (50 points) and external works (10 points) based 
on a 100-point score.  The system measures the extent to which a 
building conforms with the contract specifications.  Contractors with 
high CONQUAS scores are given preferential margins when they tender for 
public contracts.

Free Trade Zones/Warehouses
Singapore has seven Free Trade Zones (FTZ), six for seaborne cargo and 
one for air cargo (Singapore Changi Airport), within which a wide range 
of facilities and services are provided for storage and re-export of 
dutiable and controlled goods.  Goods can be stored within the zones 
without any customs documentation until they are released in the market.  
They can also be processed and re-exported with minimum customs 

The FTZ's at the port facilitate entrepot trade and promote the handling 
of transhipment cargo.  They offer free 72-hour storage for 
import/export of conventional and containerized cargo and 14-day free 
storage for transhipment/re-export cargo.

Within the FTZ, the Port of Singapore Authority (PSA) provides more than 
two million square meters of covered and open storage space.  Outside 
the FTZ, PSA has 420,000 square meters of covered warehouse space.  The 
PSA operates the Pasir Panjang Distripark, Alexandra Distripark and 
Keppel Distripark.

Special Import Provisions
Dutiable goods are allowed to be imported for repair without payment of 
duty on condition that they are re-exported within three months from the 
date of importation.  If the goods are not re-exported after the expiry 
of the given period, duty will become payable.  This facility is also 
extended to dutiable goods which are imported for trade exhibitions, 
fashion shows and displays.

Bona fide trade samples may be imported without payment of duty if they 
are imported solely:

(A) for the purpose of soliciting orders for goods to be supplied from 
abroad; or

(B) for demonstration in Singapore to enable manufacturers in Singapore 
to produce such articles to fulfil orders from abroad; or

(C) by a manufacturer for the purpose of copying, testing or 
experimenting before he produces such articles in Singapore.

Membership in Free Trade Arrangements
Singapore is a party to the World Trade Organization (WTO), formerly 
known as the General Agreement on Tariffs and Trade (GATT).

Since January 1993, Singapore has participated in the ASEAN Common 
Effective Preferential Tariff (CEPT) Scheme for the ASEAN Free Trade 
Area (AFTA).  The Scheme involves the application of preferential 
tariffs to goods of ASEAN origin as defined under the Rules of Origin 
for CEPT.  Under the rules, a product is of ASEAN origin if it is wholly 
produced or obtained in an ASEAN country.  The product can also be 
deemed to originate from ASEAN Member States if at least 40 percent of 
its content originates from any member states.  The 40 percent local 
content requirement refers to both single country and cumulative ASEAN 

Chapter VII.  Investment Climate

Investment Policy
Singapore has one of the world's most open investment regimes, through 
which it seeks to overcome land, resource and labor limitations, and 
launch itself into the league of developed countries by attracting firms 
that can build up the country's technological base and improve its labor 
force.  Singapore encourages foreign investment, particularly in 
leading-edge technologies.  Foreign investment accounted for about 74 
percent of total investment in 1994, amounting to an estimated US$2.9 
billion.  U.S. investment in Singapore accounted for 55 percent of total 
foreign investment commitments in 1994, concentrated in the petroleum, 
chemical and electronics industries.

The Economic Development Board (EDB) is the primary agency entrusted 
with the role of promoting foreign investment and operates as the 
"business architect" of Singapore.  It identifies sectors with high 
potential to contribute to the economy, and draws up a variety of tax 
and fiscal incentives to encourage foreign investment in these sectors.  
It also assists foreign and locally-owned firms to invest in new 
technology, automation, training and product development activities 
through a variety of incentives. 

Openness to Foreign Investment
Singapore's economy is based on free enterprise with strong government 
participation and guidance.  Investment policies are transparent and the 
bureaucracy is not oppressive.  There are no taxes on capital gains and 
no restrictions on foreign ownership of businesses.  Foreign investors 
are not required to take on private or official joint ventures or cede 
management control to local interests.  Government policies encourage 
local firms to form strategic partnerships with multinational 
corporations (MNC's), especially in high technology activities.  MNC's 
value Singapore's manufacturing and support facilities, and consider 
Singapore as the gateway to the fast expanding South and East Asian 

Singapore maintains restrictions on investment in a limited number of 
sectors.  Armament manufacturing is strictly closed to foreign 
investment.  Other sectors where foreign investments are limited include 
news media, telecommunications, broadcasting,  property ownership and 
domestic banks.  The telecommunications sector has been steadily 
liberalized since 1989.  Singapore Telecom's 15-year monopoly to provide 
basic telecommunication services that include domestic and international 
telephone services, telex and telegram services, leased circuits and 
videotext services will end in 2007.  

Except in the few areas discussed above, the Singapore Government does 
not restrict or discourage investment to protect local industries or for 
any other reason.  The EDB does screen foreign firms for their 
eligibility for various incentive schemes, to determine the relevance of 
the investment and to provide assistance.  Though screened-out 
investments are not prohibited, they are not given incentives.  The EDB 
provides a one-stop service for foreign investors, helping them avoid 
red tape, and has a reputation for being responsive to changing business 

Taxes and Duties
The Singapore Government uses tax policy to enhance its international 
competitive position.  The Government does not impose taxes on capital 
gains, turnover, or development.  Foreign firms are taxed on the same 
basis as local companies; the corporate tax rate was lowered from 31 to 
27 percent in 1993.  The Government has indicated it will lower the tax 
rate further to 25 percent over the next few years, though it deferred 
any reductions in 1995.  There is no withholding tax on the remittance 
of profits.  Singapore does not have a bilateral tax treaty with the 
United States, although discussions concerning such a treaty have been 
held periodically since the mid-1970's.  Singapore has agreements with 
30 countries to provide relief from double taxation.

The Government introduced a consumption-based tax, the Goods and 
Services Tax (GST), on April 1, 1994, as part of its long-term move to 
reduce taxes on earnings.  The GST of 3 percent (fixed for 5 years) is 
levied on all domestic consumption of goods and services, with certain 
exceptions, and on imports of goods into Singapore.  GST, however, is 
not levied on exports of goods and services, or goods imported and 
stored in the free trade zones.  GST-registered businesses that export 
51 percent or more of their output qualify for the Major Exporters 
Scheme, which allows them to defer the GST payable at the point of 

Tariffs are minimal; 96 percent of goods enter Singapore duty-free.  
Singapore still maintains significant tariffs on cigarettes, alcoholic 
beverages, automobiles and gasoline to discourage their use.  On 
property, a concessionary tax rate of 12 percent for a period of 20 
years is applicable to premises erected in areas designated for urban 
redevelopment.  Also, on completion, the owner can apply for a refund of 
property tax paid for the period of six months from the date of the 
project's approval plus an additional one month for every floor built.

Conversion and Transfer Policies
Singapore lifted all restrictions on foreign exchange transactions and 
capital movements in 1978 and places no restrictions on reinvestment or 
repatriation of earnings and capital.  However, the Government limits 
the use of the Singapore dollar overseas in order to prevent 
internationalization of the Singapore dollar and control imported 
inflation.  The Singapore dollar has appreciated steadily against the 
U.S. dollar over the past decade;  some analysts expect the Singapore 
dollar to reach a new high of S$1.36 to US$1.00 by the end of 1995. 

Performance Requirements/Incentives
Singapore does not impose performance requirements on foreign investors 
as a condition for establishment.  However, if investment incentives are 
requested, a company's track record, amount of investment, and its 
contribution to improving Singapore's high technology manufacturing and 
knowledge-intensive services are important in the selection process.  
The Government does not require investors to purchase from local sources 
or specify a percentage of output for export, nor does it limit access 
to foreign exchange or require local equity ownership in the investment.  
The Companies Act requires that every company must have at least two 
directors of which one must be resident in Singapore.  Foreign investors 
face no requirement to reduce equity over time and are free to obtain 
their necessary financing from any source.  Employment of host country 
nationals is not directly required, but the Government prefers to 
decrease dependence on unskilled foreign labor.  To achieve this, 
industries are encouraged to automate and move into high technology 
production.  An average levy of S$350 (US$221) per worker per month is 
payable to the Government for employing foreign labor.
There are no rules on the level and period for investors to
effect transfer of technology.  The symbiotic relationship between 
foreign investors and the Government has made it possible for foreign 
investors to deepen and diversify their operations into activities such 
as product engineering, design and research, regional marketing, 
technical services, and fund management, while Singapore gains a pool of 
specialized technologists.

Rights of Ownership and Establishment
Foreign and local entities may freely establish and operate their own 
enterprises in Singapore.  Except for representative offices, in which 
foreign firms maintain a local representative but do not conduct 
commercial transactions with Singapore, there are no restrictions on 
carrying out remunerative activities.  

Restrictions exist on foreign entities' participation in the Mass Rapid 
Transit Corporation, the Public Utilities Board, Singapore Broadcasting 
Corporation, Singapore Airlines and most of Singapore's public 
companies.   All businesses in Singapore must be registered with the 
Registry of Companies and Businesses.  Foreign investors can operate 
their businesses in one of the following forms:

--   Sole Proprietorship: an individual operating as a sole trader; 
regulated under the Business Registration Act;

--   Partnership: two to 20 persons; regulated under the Business 
Registration Act;

--   Incorporated Company: comprising at least 20 owners and operating 
as a company limited by share, guarantee or as an unlimited company; 
regulated by the provisions of the Companies Act (Cap. 50); 

--   Foreign Company: registered as a branch of the parent company under 
the Companies Act but not incorporated as a Singapore company; or,

--   Representative Office: offices of foreign corporations, which 
undertake promotional and liaison activities on their parents' behalf.  
They must not engage in business, conclude contracts, provide 
consultancy for a fee, undertake transshipment of goods or open or 
negotiate any letters of credit directly or on behalf of their parent 
companies.  Approval is given by the Trade Development Board. 

Regulatory System
Singapore's regulatory environment is characterized by clarity, fair 
competition and sound business practice.  Prior to implementing any law 
or regulation, the Government usually consults relevant bodies and 
agencies, companies and the public.  Tax, labor, banking and finance, 
industrial health and safety, arbitration, wage and training rules and 
regulations are formulated and reviewed with the interests of foreign 
investors and local enterprises in mind.  However, local laws give 
regulatory bodies wide discretion to modify regulations and impose new 
conditions, and such changes are not necessarily made public.  This 
enables the Government to negotiate the way it provides incentives or 
other services to foreign companies on a case-by-case basis.

Labor Conditions
Singapore's labor market is characterized by a small, comparatively well 
disciplined indigenous labor force of 1.64 million, a considerable pool 
of 360,000 foreign, mostly unskilled, workers from the region, and a 
shortage of local skilled professionals.  This shortage influences the 
type of industries and businesses the Government promotes.  High 
technology investments are encouraged, and companies are given 
incentives to automate.  Companies are also encouraged to re-site some 
labor-intensive operations in neighboring countries while retaining 
headquarters activities in Singapore.

To reduce industries' dependence on foreign labor, the Government places 
a ceiling on the percentage of foreign workers various industries may 
employ, and charges a monthly levy for each foreign worker.  Foreign 
workers who earn S$1,500 (US$980) or lower per month are given two-year 
work permits, usually renewable for another two years.  Those certified 
as skilled receive three-year work permits, which are also renewable.

Local labor laws allow for relatively free hiring and firing practices.  
Retrenchment benefits must be paid to workers with 3 or more years of 
service.  The cash benefit paid out is negotiated between employers and 
the retrenched workers.  The Employment Act regulates the working 
conditions of workers with monthly wages equal or less than S$1,500 
(US$1075).  Those earning above this amount are outside the protection 
of this Act.  Their working hours, paid annual leave and overtime 
salaries are usually determined by general prevailing practices.  
Retirement age was recently raised from 55 to 60 years.

Wages in Singapore are higher than in most developing and newly 
industrializing countries in East Asia.  According to the National 
Trades Union Congress, Singapore's starting monthly salary of about 
S$1,000 (US$717) is nearly 2.5 times that of its closest regional 
competitor: Penang, Malaysia.  In addition to the basic wage rate, 
employers and employees are each required by law to contribute an amount 
equivalent to 20 percent of an employee's salary to the Central 
Provident Fund, except for foreign workers.  Firms also pay a levy of 
one percent of the wages paid to employees drawing less than S$750 per 
month (US$538) to the Skills Development Fund (SDF).  The National Wages 
Council (NWC), comprising representatives from the unions, employer 
groups and the Government, and headed by an academic, sets non-binding 
but influential guidelines for orderly wage adjustments.  There is no 
minimum wage law in Singapore.

Labor-management relations in Singapore are excellent.  There has been 
only one strike since 1978, and it resulted in the loss of only 122 
worker-days.  Though workers other than those in essential services have 
the legal right to strike, the chances of strikes taking place are 
minimal given the dispute settlement process.  Industrial disputes are 
usually settled through mediation by the Government.  When this fails, 
the matter is decided by the Industrial Arbitration Court (IAC), whose 
rulings are binding.  Once the IAC recognizes a dispute, strikes or 
lock-outs are prohibited under the Trade Disputes Act.  About 15 percent 
of the work force is unionized.  The vast majority of unions are 
affiliated with the National Trades Union Congress (NTUC).  The NTUC is 
headed by a cabinet minister who has no government portfolio, and is 
staffed by a variety of government officials, including Members of 
Parliament from the ruling political party.

Efficient Capital Markets and Portfolio Investment
The development of Singapore as an international financial center is a 
major objective of the Government.  Singapore liberalized exchange 
controls in 1978, removing restrictions on the movement of funds.  In a 
regional context, Singapore's policies are relatively efficient in 
facilitating the flow of financial resources to support the product and 
factor markets, though its capital markets are not yet as developed as 
OECD countries.  The Singapore Government has adopted a policy to 
strictly separate the domestic capital market from the offshore market 
in order to maintain control on developments in the domestic market, 
administer tax concessions, and prevent the internationalization of the 
Singapore dollar.

Credit is allocated on market terms.  Foreign investors are able to get 
Singapore dollar credit in the local market, but banks are required to 
notify MAS if the credit exceeds S$5 million for non-residents, or by 
residents for use outside Singapore.  This restriction is in line with 
the policy to separate the domestic market from the offshore market and 
the decision not to internationalize the Singapore dollar.  A variety of 
credit instruments are accessible to the private sector.

There are systems in place to encourage portfolio investment, but 
Singapore's small economy limits the scope for development.  
Concessionary taxes have attracted international securities firms, fund 
managers and treasury operations of MNC's to Singapore.  The Stock 
Exchange of Singapore (SES) has allowed foreign broking firms to enter 
the market but with some restrictions.  The SES has also drawn up 
guidelines to encourage MNC's and their Singapore subsidiaries 
conducting treasury operations to list shares on the Exchange in any 
internationally acceptable currency.  Singapore's laws do not 
distinguish between foreign and domestic companies in the banking 
industry.  The only legal distinction that exists is between the 
offshore and domestic units, and in the type of license held.  Laws and 
regulations governing the banking industry are publicly available, and 
the Monetary Authority of Singapore provides a guidebook on regulations 
to banks to assist them with regulatory questions.

Capital Outflow Policy
The Government imposes no restrictions on international capital flows 
into or out of Singapore.  Recognizing the inherent internal limits to 
growth, the Government has embarked on a massive regionalization drive 
to create an "external wing" for the Singapore economy.  The Economic 
Development Board set up the International Business Development Division 
in 1992 to promote and facilitate foreign investment by local companies 
with the long-term objective of developing a new source of growth for 
Singapore.  Strong emphasis is given through the Regionalization Program 
to Asian economies.  Prime Minister Goh Chok Tong has stated that the 
Government is ready to invest up to 30 percent of its roughly US$50 
billion foreign reserves in projects in regional emerging economies.  
The Government continues to promote investment in industrialized 
countries primarily to spin off high technology to boost Singapore's 
technological capability.

Expropriation and Compensation/Dispute Settlement
Singapore has investment promotion and protection agreements with 21 
countries, including the United States.  These agreements mutually 
protect nationals or companies of either country for a specific period 
(usually 15 years) against war and non-commercial risks of 
expropriation.  In the event of expropriation, Singapore will compensate 
the foreign investor either directly or through its government.  
Generally, the compensation will be based on the market value of the 
property destroyed or confiscated.  To date, there have been no 
significant disputes between the Government and foreign investors.  The 
risk of expropriation or nationalization of foreign investments in 
Singapore is virtually nil.  Political risk insurance is available from 
the U.S. Overseas Private Investment Corporation (OPIC).  Investment 
disputes come under civil court jurisdiction.

Acquisitions, Mergers and Takeovers
The Code on Takeovers and Mergers supplements the statutory provisions 
in the Companies Act.  The aim is to mandate good business principles 
and sound practices regarding takeovers and mergers.  Investments by way 
of takeovers or mergers of companies listed on the Stock Exchange of 
Singapore (SES) are not unusual, but they must comply with the 
provisions laid down in the listing manual of the SES.  Final approval 
comes from the Securities Industry Council, which together with the MAS, 
regulates the industry.

Investment Incentives
The EDB, along with the Trade Development Board (TDB), the Monetary 
Authority of Singapore (MAS), and the National Science and Technology 
Board (NSTB) offers a broad range of incentives to attract specific 
types of investments to Singapore.  Under the Economic Expansion 
Incentives (Relief from Income Tax) Act, these agencies have great 
leeway in administering the incentives.  An overview of investment 
incentives can be found at Appendix F. 

Incentives for Local Companies
The Government of Singapore has also developed twelve incentives 
specifically tailored to help small- and medium-sized local companies 
adopt or implement new technology or skills, introduce and apply 
automation, or perform design and new product development activities.  
Companies that have at least 30 percent local equity and "active" local 
owners are defined by EDB as local companies.  The Trade Development 
Board operates five incentives to help manufacturers and exporters 
increase their  exports.  Export financing assistance is provided by the 
MAS.  ECICS Credit Insurance, a government-controlled company, provides 
insurance to exporters to cover against non-payment.

Protection of Property Rights
Common law protects and facilitates the acquisition and disposition of 
all property.  There are some restrictions on foreigners owning real 
estate in Singapore; individuals may hold freehold title to condominiums 
but not unattached homes, for example.  Foreign investors are only 
allowed to own industrial real estate through joint ventures with local 

Regarding intellectual property, Singapore enacted strict copyright 
protection legislation in 1987, strengthened its trademark law in 1991, 
and passed a new patent law in 1994. Enforcement of relevant laws is 
generally adequate.  Singapore has convened an interagency task force to 
oversee the drafting of amendments to make its IPR laws conform with the 
WTO TRIPs agreement.  Its patent law will be amended by January 1, 1996, 
while its other laws will be amended later.  Singapore is a signatory to 
the Paris Convention for the Protection of Industrial Property as well 
as to the Patent Cooperation Treaty, but not to the Berne Convention for 
the Protection of Literary and Artistic Works or the Geneva Phonogram 
Convention.  An overview of Singapore's intellectual property laws is in 
Appendix H.

Political Violence
There has been no politically motivated violence in Singapore for the 
past 24 years.  Tough internal security laws give the Government wide-
ranging powers to keep in check any instability or civil disturbance.  
Political parties espousing communist ideology are outlawed.  Existing 
opposition parties do not espouse ideology that varies substantially 
from the ruling party, and they collectively control only 4 out of 81 
seats in parliament.  Singapore has cordial relations with its neighbors 
and cooperates with them either on a bilateral basis or under the ASEAN 
framework.  Singapore conducts frequent military exercises with its 
ASEAN neighbors, and annually with Britain, Australia, New Zealand and 
Malaysia under the Five-Power Defense Arrangement.  There are no U.S. 
military bases in Singapore, but the U.S. Navy and Air Force do maintain 
small logistics, support and training facilities.  Risk evaluation 
agencies almost always rate Singapore as free of political risk. 

Bilateral Investment Agreements
Singapore has signed general investment guarantee agreements (IGA's) 
with the following countries:  Belgium, Brunei, Canada, China, France, 
Germany, Indonesia, Luxembourg, Malaysia, Netherlands, Philippines, 
Poland, Sri Lanka, Switzerland, Taiwan, Thailand, United Kingdom, the 
United States and Vietnam.  The U.S. and Singapore signed a Trade and 
Investment Framework Agreement in October 1991.

OPIC and Other Investment Insurance Programs
Under the 1966 Investment Guarantee Agreement with Singapore, the U.S. 
Overseas Private Investment Corporation (OPIC) offers insurance to U.S. 
investors in Singapore against currency inconvertibility, expropriation 
and losses arising from war.  

Foreign Investment Statistics
Foreign companies committed a record S$4.3 billion (US$2.8 billion) in 
new investments in Singapore's manufacturing sector in 1994.  This was 
36 percent more than the level in 1993.  U.S. companies, accounting for 
57 percent of the investment commitments, were once again the republic's 
leading group of investors.  Current surveys estimate that the roughly 
1000 American firms in Singapore had cumulative total assets worth over 
US$8 billion.  Singapore Government figures reveal great dependence on 
foreign investments.  Foreign firms, led by those from the U.S., Europe 
and Japan, accounted for 73 percent of cumulative gross fixed assets in 
the manufacturing sector.  Partially to offset the extensive dependence 
on foreign MNC's, the Government is actively nurturing the large, 
Government-linked companies to become regional MNCs, and assisting local 
small- and medium-sized enterprises to upgrade.

Statistics on foreign investment in Singapore by country of origin and 
industry sector are contained in Appendix A-D.

Chapter VIII.  Trade and Project Financing

Brief Description of Banking System
As a result of the Government's decision in the late 1960s to open 
Singapore to foreign banks, the banking sector has been a major growth 
sector for the Singapore economy.  Financial activities have become an 
important adjunct to Singapore's export-oriented industries and 
development as a manufacturing center.  The Monetary Authority of 
Singapore (MAS) performs all the functions of a central bank except 
currency issue, which remains in the domain of the Board of 
Commissioners of Currency.  The unit of legal tender is the Singapore 
dollar.  The MAS is a wholly-owned and controlled statutory board under 
the Ministry of Finance, and is responsible for all matters relating to 
banks and other financial institutions.  It licenses and supervises 
banks, merchant banks, finance companies, insurance companies, money 
changers, securities dealers, investment advisers, futures companies, 
and other financial institutions.  The MAS also formulates and 
implements Singapore's monetary and exchange rate policies.

Foreign Exchange Controls Affecting Trading
There is free movement of capital and profits in Singapore.  Banks are 
required to consult the Monetary Authority of Singapore before 
considering Singapore dollar credit facilities exceeding S$5 million to 
any non-resident, or to a resident where the Singapore dollars are to be 
used outside Singapore.

Sources of Financing
Three types of commercial banks operate in Singapore, depending on the 
type of license they possess.  As of May 26, 1994, there were 136 
commercial banks in Singapore, comprising 35 full license banks (of 
which 13 were locally incorporated), 14 commercial banks with restricted 
licenses, and 87 with offshore licenses.  Three U.S. banks operate full 
licensed branches in Singapore.  Several large commercial banks offer a 
variety of banking services to manufacturing firms and other clients.  
Most banks extend credit for five to ten years at competitive interest 
rates covering up to 50 percent of plant and machinery costs and up to 
65 percent of the value of factory buildings.  Higher percentages are 
available for particularly desirable projects and for expansion loans.  
Many larger Singapore banks have subsidiaries that carry out merchant 
banking, insurance, property development, securities trading as members 
of the stock exchange, and underwriting issues of government bonds.  
Seventy-seven merchant banks provide a wide range of services not 
covered by some commercial banks, including investment portfolio 
management, investment advisory services, advice on corporate 
restructuring, mergers and acquisitions, financing, lending or 
participating in syndicated loans, capital equipment leasing, and 
underwriting and floating bond and stock issues.

MAS engages in limited money market operations to influence interest 
rates and ensure adequate liquidity in the banking system.  The 
Government does not set targets for monetary aggregates.  Money supply 
and domestic interest rates are primarily determined by international, 
rather than local conditions.  The exchange rate is the MAS's most 
important tool for controlling inflation.


American Express Bank Ltd.
16 Collyer Quay
Hitachi Tower 
Singapore 0104
Tel: 538-4833
Fax: 534-3022

Bank of America NT & SA
78 Shenton Way
Singapore 0207
Tel: 223-6688
Fax: 320-3068

Bank of Hawaii
4 Shenton Way #19-01
Shing Kwan House
Singapore 0106
Tel: 221-0500
Fax: 224-1144

The Bank of New York
10 Collyer Quay #14-02/03
Ocean Building
Singapore 0104
Tel: 535-4522
Fax: 534-4208

Bankers Trust Company
5 Temasek Boulevard
#08-00 Suntec City Tower
Singapore 0103
Tel: 336-2838
Fax: 331-4868

The Chase Manhattan Bank N.A.
Raffles Place #01-01
Shell Tower
Singapore 0104
Tel: 530-4111
Fax: 224-7950

Chemical Bank
150 Beach Road #23-00
Gateway West
Singapore 0718
Tel: 291-1298
Fax: 290-1756

Citibank N.A.
5 Shenton Way #06-00
UIC Building
Singapore 0106
Tel: 224-2611
Fax: 224-9844

The First National Bank of Boston
150 Beach Road #07-00
Gateway West
Singapore 0718
Tel: 296-2366
Fax: 296-0998

Marine Midland Bank N.A.
21 Collyer Quay
#19-01 Hongkong Bank Building
Singapore 0104
Tel: 225-7282
Fax: 225-1519

Morgan Guaranty Trust Co. of New York
6 Shenton Way #32-08
DBS Building Tower 2
Singapore 0106
Tel: 220-8144
Fax: 326-9981

Nations Bank of Texas, N.A.
5 Shenton Way #11-01
UIC Building
Singapore 0106
Tel: 220-5755
Fax: 225-7513

Norwest Bank Minnesota N.A.
100 Cecil Street
#14-02 Globe Building
Singapore 0106
Tel: 226-0809
Fax: 226-0874

The Philadelphia National Bank
6 Battery Road #13=03
Standard Chartered Building
Singapore 0104
Tel: 224-6177
Fax: 224-6170

Republic National Bank of New York
143 Cecil Street #01-00
GB Building
Singapore 0106
Tel: 2245-0077
Fax: 225-5769

Chapter IX.  Business Travel

Business Customs
Business discussions are straightforward and no-nonsense.  English is 
widely spoken and most business people are skilled and technically 
knowledgeable.  Most agents/distributors have visited the United States 
and often handle several U.S. product lines. Corruption is virtually 
Many Singapore business people are ethnic Chinese, and many of them will 
have "Christian" first names (e.g., Albert Lim, Sally Lee).  Those who 
do not will have only their Chinese name on their business card, in 
which case the family name is listed first.  Mr. Lim Siew Fook would be 
addressed as "Mr. Lim" and Mrs. Tan Lee Yik as "Mrs. Tan."  For the sake 
of politeness and respect, it is wise to address a business person by 
the last name rather than the first name - unless an immediate rapport 
is developed.
Business cards are a must as they are immediately exchanged during 
business and social meetings.  The Chinese practice is to present a 
business card with both hands.  There is no need to have special 
business cards printed in Chinese.

Travel Advisory and Visas
Singapore's laws are strict and are rigidly enforced.  Short stay visas 
are available at the airport on arrival.  Travellers should check with 
their travel agent or the Singapore Embassy in Washington for the latest 

Business Hours
Singapore is 12 hours ahead of Eastern Standard Time. Business hours 
normally are 8:30 am - 5:30 pm, Monday-Friday and 
8:30 am - 1 pm, Saturday.  Shops are open from
10 am - 7 pm.

Located close to the Equator, Singapore has a constant tropical climate 
year-round.  Daytime temperatures average between 85 and 90 degrees 
Fahrenheit.  Humidity is very high and rainshowers are frequent.  
Temperatures at night average between 76 and 80 degrees.  All public 
buildings, indoor restaurants and taxis are air-conditioned.       

Summer-weight suits/dresses, several dress-shirts, an umbrella and 
swimsuit are recommended.  Singapore business dress is shirt and tie for 
men, although one will not be out of place wearing a jacket.  Business 
women wear conservative, light-weight attire.  Evening dinner-dress is a 
shirt and tie for men, dress for women.

Communications and Power
In addition to having one the world's best airports, and container 
ports, Singapore features an exceptionally modern telecommunication 
system.  Electrical current is 220V, 50HZ.

Money and Currency     
Singapore's unit of currency is the Singapore dollar.  Travelers' checks 
and currency may be exchanged in the baggage claim area at Changi 
Airport (at a very good rate) or at any hotel (at a less favorable 
rate).  Singapore features dozens of Government-authorized "money 
changers," located in major shopping centers, who offer competitive 
rates and will usually accept U.S. travelers' checks as well as major 
currencies.  U.S. credit cards are widely accepted in hotels, 
restaurants and retail shops.

Tipping is not customary in Singapore.  Restaurants automatically add a 
10 percent service charge.

Taxis are abundant, metered, inexpensive and air-conditioned, and most 
drivers speak English.  Give drivers place names for the destination, as 
these are often more familiar than street names.  Traffic flow is 
impressively good.  The Singapore Government limits the total number of 
cars on the road and imposes a S$3 surcharge on vehicles entering the 
Central Business District during much of the day.  In addition, an 
exceptionally clean, efficient subway system links the major 
business/shopping areas.

Visas and Travel documents       
A valid U.S. passport is required for tourist and business travel to 
Singapore.  No visa is necessary for U.S. citizens visiting Singapore.  
To facilitate regional travel, replace any passport with less than six 
months validity.  

Holiday Schedule       
The American Embassy closes on American and local holidays. The dates on 
which holidays are observed in 1996 are listed below:

January 1, Monday              New Year's Day
January 15, Monday             Martin Luther King, Jr. Birthday
February 19, Monday            Chinese New Year       
and February 20, Tuesday                     
February 19, Monday            Washington's Birthday
February 20, Tuesday           Hari Raya Puasa
February 21, Wednesday         Public Holiday Declared by President
April 5, Friday                Good Friday
April 29, Monday               Hari Raya Haji
May 1, Wednesday               Labor Day (Singaporean)       
May 27, Monday                 Memorial Day
May 31, Friday                 Vesak Day
July 4, Thursday               Independence Day
August 9, Friday               Singapore National Day
September 2, Monday            Labor Day (American)
October 14, Monday             Columbus Day
November 11, Monday            Veterans' Day and Deepavali
November 28, Thursday          Thanksgiving
December 25, Wednesday         Christmas

Chapter X.  Appendices

(U.S. Dollars Unless Otherwise Indicated)

                                  1993       1994        1995
 1.  PROFILE                     
      Population, including non-
      residents (million)           3.26       3.34       3.43
      Population growth (percent)    2.5        2.4        2.6
      Major religions Christianity, Taoism, Buddhism, Islam, Hinduism
      Government System Unicameral parliament, universal suffrage with
      elections held every 4 years
      Official languages (in order of usage) English, Mandarin, Malay 
      and Tamil
      Work Week 5 and 1/2 days (44 hours) 

                                1st Qtr.
                                 1993           1994       1995
GDP (US$ b, at 1985 prices)          44.3       51.6       14.0
GDP Growth Rate (percent)             9.9       10.1        7.2
GDP Per Capita                     16,200       16,700      n/a
Government Spending (pct of GDP)       14       13          n/a
Inflation (pct change in CPI)         2.4       3.6         2.5
Unemployment Rate (percent)           2.7       2.6         1.7
Foreign Exchange Reserves (US$ m)  48,190       55,758   61,412
Foreign Debt (US$ m)                  7.2       3.1         n/a
Debt:Service Ratio                    0.1           0.1     n/a
U.S. Economic/Military Assistance    none       none       none


(1)  All dollar figures were originally denominated in Singapore 
dollars.  They were converted to U.S. dollars using exchange rates 
(averaged over each year) provided by the Monetary Authority of 


                                1993             1994
                                 US$             US$

Total Exports                   73,396.5       95,914.0
Total Imports                   84,878.7      102,095.1
Imports from US                 13,838.3       15,648.8
     as pct. of total imports       10.1           10.0
Exports to US                   15,034.0       18,094.1
     as pct. of total exports       12.7           12.4
Trade Balance with US            1,195.7        2,445.3
Trade Balance with Malaysia     -3,545.0        2,284.3
Trade Balance with Japan       -13,114.2      -15,764.7
Trade Balance with Hong Kong     3,728.8        4,929.3
Top 5 U.S. Exports to Singapore:              
ELECTRICAL MACHINERY             2,417.5        3,243.9
OFFICE & DATA MACHINES           1,611.3        2,011.1
TRANSPORT EQUIPMENT              1,303.0        1,404.3
POWER GENERATING MACHINERY       1,089.6          885.8
GENERAL INDUSTRIAL MACHINERY       687.4          790.1
Top 5 U.S. Imports from Singapore:              
OFFICE & DATA MACHINES           7,587.1        9,497.6
ELECTRICAL MACHINERY             2,015.5        2,904.1
TELECOMMUNICATIONS APPARATUS     1,703.7        2,012.1
CLOTHING                           818.4          841.8
ORGANIC CHEMICALS                  468.9          406.0


Total:          US$5,223 million
From the U.S.:  US  $399 million
U.S. Share:     8 percent

Agricultural Trade Balance with the U.S.:  US$145 million in favor of 
the U.S.

(1)  All data reflect merchandise trade only; services are excluded.




(Measured by Gross Fixed Assets)

COUNTRY       1988       1989     1990       1991       1992
(US$ Billions)

U.S.            3,152    3,683    4,434     4,957       5,941
Japan           2,562    3,384    4,163     4,784       5,582
Europe          2,704    3,375    3,951     4,432       5,114
 EC             2,522    3,165    3,686     4,134       4,791
  UK            1,057    1,240    1,425     1,563       1,756
  Netherlands     956    1,324    1,555     1,741       2,067
  Germany         206      235      269       333         409
  France          173      213      267       302         346
  Other EC
   Countries      131      152      170       194         215
 Sweden            77       85       99        57          62
 Switzerland       62       74       91       152         160
  European         43       51       74        89         101

TOTAL           9,010   11,036   13,315    14,952      17,535

Source:  1994 Economic Development Board Yearbook



COUNTRY       1990       1991       1992       1993       1994
(US$ Millions)

U.S.           582       561         738       899       1,605
Japan          391       413         527       482         598
Europe         240       396         380       546         594
 EU            222       361         341       499         585
  UK            50       108         188       221         344
  Netherlands   40       125          26         5         115
  Germany       91        35          65       127          60
  France        33        44          21        77          35
  Italy          0        41          16        27          25
  Other EU
   Countries     4         8          13       39            5
 Other European  0        28           0        6            2
Other Countries 11        55          34       39           36

TOTAL        1,224      1,425       1,678    1,966       2,833

Source:   Economic Survey of Singapore, First Quarter 1995       



(Measured by Gross Fixed Assets)

INDUSTRY GROUP       1988       1989       1990       1991       1992

(US$ Millions)

Food & Beverages       750       894     1,020     1,173       1,279
Textiles                94       102       120       137         142
Wearing Apparel        211       238       302       328         331
Leather & Rubber        54       57         73        92         102
Wood Products          210      224        217       222         247
Paper Products                                    
 & Printing            589      682        854     1,028       1,225
Chemicals            1,171    1,461      1,688     1,935       2,097
Other Chemical                                    
 Products              279      325        447       462         533
Petroleum            2,483    2,793      3,267     3,678       4,425
Plastic Products       319      383        471       570         665
 Mineral Products      278      403        421       467         546
Basic Metals          189       223        271       291         339
Transport Eq.         957     1,092      1,285     1,480       1,716
 Metal Products       875     1,018      1,232     1,475       1,730
 electrical)          800       918      1,070     1,224       1,460
 & Appliances       3,114     3,914      4,799     5,479       6,515
 Equipment            179       212        337       381         450
Other Light                                   
 Industries         1,171     1,461      1,688     1,935       2,097
TOTAL INVESTMENT                                   
  AND LOCAL)       12,711    15,116     18,105    20,647       24,044

Source:  1994 Economic Development Board Yearbook              



INDUSTRY GROUP       1990       1991       1992       1993       1994
(US$ Millions)
Food & Beverages       24        23         47         57         24
Textiles                2         6          3        n/a        n/a
Wearing Apparel       n/a         3          6          1        n/a
Leather & Rubber        6         3          2          1          2
Wood Products           5         2          3         15        n/a
Paper Products                                    
 & Printing            42        63         55         57        176
 Chemicals            147       186        181        485        781
Other Chemical                                   
 Products              19       141        152        211         75
Petroleum             210        58        279         52        773
Plastic Products        5        50         68         30         18
 Mineral Products       5        28         39         78       135
Basic Metals          n/a         2         21         43         4
 Metal Products        57        74         94         92       212
 (except electrical)  103       218        211        205       181
Electrical Machinery   54        10         11         58        19
Electric Products                                   
  & Components        606       720        772        760       991
Transport Equipment    63        72        103        211       364
Precision Equipment    12        20         85         70        13
Other Products        n/a        21          6          1         8
Servicing/Engineering  13       n/a        n/a        n/a       n/a
TOTAL FOREIGN                                    
   INVESTMENT       1,224     1,425       1,678      1,966     2,833
TOTAL INVESTMENT                                   
  (FOREIGN & LOCAL) 1,372     1,698       2,137      2,428     3,774

Source:  Economic Survey of Singapore, First Quarter 1995       

                                    TABLE E

                      BY COUNTRY OF DESTINATION, 1989-1991

COUNTRY          1989          1990            1991
                       Pct.          Pct.           Pct.
                       of            of             of
                US$ M  GDP    US$ M  GDP      US$ M GDP
  Brunei         34.5  0.1    27.4   0.1     30.9    0.1
  Indonesia      41.8  0.1    78.1   0.2    101.1    0.3
  Malaysia      730.1  2.5   994.9   2.8  1,132.8    2.8
  Philippines    27.3  0.1    39.4   0.1     35.3    0.1
  Thailand       73.5  0.3   122.8   0.4    164.6    0.4
Total ASEAN     907.2  3.1 1,262.7   3.6  1,464.8    3.6
OTHER ASIA                                          
  Hong Kong     428.1  1.5   517.2   1.5    611.5    1.5
  Japan          14.8  0.1    25.8   0.1     44.9    0.1
  China          56.0  0.2    90.2   0.3     88.4    0.2
  South Korea       n/a          n/a              n/a       
  Taiwan         75.7  0.3   125.3   0.4    128.4    0.3
  Others         63.4  0.2    96.6   0.3    146.9    0.4
Total ASIA    1,545.2  5.3 2,118.0   6.1  2,484.8    6.2
  U.K.           58.3  0.2   107.1   0.3    113.7    0.3
  Netherlands   -46.2 -0.2   353.3   1.0    305.2    0.8
  Germany       n/a            n/a           n/a
  Others        144.7  0.5    57.3   0.2     67.9    0.2
Total EUROPE    156.4  0.5   517.7   1.5    486.8    1.2
Australia      169.5   0.6   226.3   0.6    250.6    0.6
USA            150.4   0.5   209.7   0.6    239.3    0.6
Other Countries690.0   2.4 1,223.1   3.5  1,487.9    3.7
TOTAL         2,711.5  9.3 4,294.8  12.3  4,949.5   12.3

Source:  1994 Economic Development Board Yearbook

                                    TABLE F


                                UNITED STATES
                                            TOTAL       TOTAL
J.P. Morgan           Stockbroker       18,190,507          124,418
Mobil Oil             Petroleum          2,061,095        1,980,774
Hewlett-Packard       Computers          1,672,270        1,608,568
Caltex Trading        Petroleum          1,493,429       16,449,991
Conner Peripherals    Computer Disk              
                       Drives              875,544        1,511,909
Motorola Electronics  Electronic              
                       Products            728,961        1,355,633
Maxtor Peripherals    Computer Disk              
                       Drives              719,348        1,504,790
DuPont                Chemicals            676,388          378,600
Texas Instruments     Electronic              
                       Components          640,094        1,417,622
G.E. Pacific          Diversified/              
                       Holding             576,292          368,322
G.M. Singapore        Automotive           569,992          532,910
Compaq Asia           Computers            518,631          947,133
Baxter Healthcare     Pharmaceuticals      486,380          193,029
Archive               Computers            310,869          142,528
AT & T Consumer                     
 Products             Communications       306,340          260,911
National              Electronics              
 Semiconductor        Components           279,898        1,110,912


                                            TOTAL       TOTAL
Asia Matsushita       Electronic              
 Electric              Components        1,101,037       4,028,224
Daiwa Ltd.            Stockbroker        1,002,173          68,838
Itochu Asia           General Trading      842,631       1,087,483
Kajima Overseas Asia  Construction         643,693         137,382
Idemitsu Inter-                     
 national (Asia)      Petroleum            618,892       1,493,938
Japan Fleet Service   Aerospace            485,351          94,547
Polyolefin Company    Petrochemicals       474,861         421,406
Cosmo Oil                     
 International       Petroleum             449,090       3,597,607
Hitachi Asia         General Trading       429,974       1,881,441
Nissho Iwai                     
 International       Petroleum             427,157       1,123,799
 Industries          Electrical            416,113         382,293
Toshiba Electronics  Electronic              
 Asia                 Components           391,077       1,419,562
Tomen Petroleum      Petroleum             370,416         542,270
Aiwa                  Electronic              
                      Products             353,684         878,904
NLI International    Financial              
                      Services             339,370          13,768

                                 TYPE OF         TOTAL        TOTAL
COMPANY NAME       COUNTRY       BUSINESS       ASSETS       SALES                            
                                                   (S$ Millions)
Glaxochem          U.K.       Pharmaceuticals    2,198.7      216.7
Glaxo Far East     U.K.       Pharmaceuticals    2,134.2    1,150.1
A.P. Moller       Switzerland Shipping           1,136.2      265.1
Glaxo             U.K.        Pharmaceuticals    1,121.4    1,074.8
BP Singapore      U.K.        Petroleum          1,014.0    2,596.5
Thomson Consumer                            
 Electronics      France      Electronic              
 Asia                          Products            777.9    1,873.3
Inchcape Bhd      U.K.        Diversified/              
                               Holding             766.2    1,080.7
Philips           Netherlands Electronic              
                               Products            647.6    1,603.3
Moet-Hennessy     France      Beverages            637.8      365.6
SGS-Thomson       Netherlands Electronic              
 Microelectronics              Components          539.5    1,334.8
Probo Pacific     Sweden      Leasing              448.0       30.6
Morgan Grenfell                            
 Asia Holdings    Germany     Stockbroker          410.2       40.4
Carnaud Metal                            
 Box Asia         France      Packaging            370.4      322.9
 Finance          U.K.        Finance              291.9       16.6
Siemens           Germany     Electronics              
 Components                    Components          248.9      532.6


                                             TOTAL       TOTAL
COMPANY NAME         TYPE OF BUSINESS        ASSETS        SALES                             
Sime Ltd.             Diversified/              
                       Holding              439,847       498,229
Maybank Finance Ltd.  Finance               390,807        28,715
Low Keng Huat Ltd.    Construction          160,443       135,279
UMBC Finance Ltd.     Finance               153,054         9,786
Promet                Marine                101,593        30,110
Ipco International                     
 Ltd.                 Marine                 98,029       202,770
Pan-Malaysia Cement                     
 Works                Cement                 75,896       125,491
Johan Investment      Diversified/              
                       Holding               68,878        50,590
Diners Club           Credit Card            56,359        35,838
Jacks International   Diversified/              
                       Holding               49,805       119,866

                                   HONG KONG

                                              TOTAL       TOTAL
COMPANY NAME          TYPE OF BUSINESS        ASSETS      SALES                             
Wing Tai Holdings Ltd. Diversified/
                        Holding             1,156,366       165,243
Marco Polo                     
 Developments Ltd.     Hotels                 725,381        41,599
Wayfoong Mortgage                     
 & Finance Ltd.        Finance                388,089        26,781
Hind Hotels Int'l                     
 Ltd.                  Hotels                 276,426        27,528
GP Batteries                     
 International Ltd.    Batteries              246,856       201,209
Clipsal Industries                     
 Holdings Ltd.         Electrical             123,802       110,006
Richvein               Hotels                 122,173        35,464
Panwell                Electrical             117,491       100,595
Lion Holdings          General Trading        107,242       119,318
Avant Hotels           Hotels                 105,212        30,206


a.  The total assets and sales are for 1992/1993.
b.  The 1992 and 1993 exchange rates were S$1.629 and S$1.616
    per US$1 respectively.

Source:  "The Singapore 1000 Service" and "The Singapore 1000           
Industrial," Datapool (S) Pte. Ltd. 1994 ed.

                                  TABLE G



Chemicals       Shell (Netherlands) & Sumitomo Chemical (Japan)
                Key participants in a S$3.4 billion project to  
                build a second petrochemical complex, which will
                include a second naphtha cracker and a styrene 
                monomer/propylene oxide plant.  Project involves 
                significant equity participation by EDB.

                Esso Singapore (U.S.)
                S$380 million for a new hydroprocessing unit (for  
                petroleum industry)

               Haarmann & Reimer (Germany), Bush Boake Allen   
               (U.S.), and Givaudan-Roure (France) Implemented new 
               facilities for manufacture of flavors and   

               Zeneca (U.K.)
               Significant investment for manufacture of water-   
               borne urethane and acrylic emulsions

Electronics    Brooktree Corporation (U.S.)
               S$50 million expansion of operations in Singapore,
               its new headquarters for Asia

               Compaq Computer Corporation (U.S.)
               S$150 million expansion of Singapore operations in a move 
               towards its goal of becoming the world's top PC 
               manufacturer by 1996

               Western Digital (U.S.)
               S$104 million investment, including a S$3.6 million 
               design center for disk drive components and engineering 
               process software

               Murata Electronics (Japan)
               S$81 million expansion to raise its manufacturing 
               capacity to 1.4 billion ceramic chip capacitors per month

               Siemens Components (Germany)
               Will establish a design center for integrated circuits in 

               Apple Computer (U.S.)
               Established a new design center for Macintosh computer 

Precision      Murata Machinery (Japan)
Engineering    Opened S$8 million technical center for textile 
               machinery, the first of its kind.

               Seiko Instruments (Japan)
               S$43 million to upgrade its core capabilities in 
               precision watch making

               Minebea Group (Japan)
               S$75 million investment over next several years

               Makino (Japan)
               S$33 million for expansion and upgrade of its
               machine-tool plant

               WMF (Germany)
               S$15 million for expansion and upgrade of its
               cutlery manufacturing facilities

Heavy          Yokogawa (Japan)
Engineering    S$1.7 million for manufacture of a new distributed 
               control system

               Mannesmann Center (Germany)
               S$4.2 million for new building at Yishun which houses 6 
               of its companies

               Fisher-Rosemount (U.S.)
               S$17 million plant expansion

Source:  1994 Economic Development Board Yearbook


U.S. Government Contacts

Ambassador Timothy Chorba
U.S. Embassy
PSC 470
FPO AP 96534
tel:  65/338-0251
fax:  65/338-4550

Stephen Craven
Commercial Counselor
U.S. Embassy
FPO AP 96534
tel:  65/338-9722
fax:  65/338-5010

Robert Fondahn
Agricultural Trade Officer
U.S. Embassy 
FPO AP 96534
tel:  65/737-1233
fax:  65/732-8307

Lt. Col. Wayne Drake
Security Assistance Office
U.S. Embassy
FPO AP 96534
tel:  65/338-0251 ext. 320
fax:  65/338-5789

Singapore Government Agencies

Central Provident Fund Board
CPF Building, 79 Robinson Road (0106)
Tel: 220-2422; Fax: 565-5301
Chairman: Dr. Andrew Chew

Civil Aviation Authority of Singapore
Singapore Changi Airport, P.O. Box 1 (9181)
Tel: 542-1122; Fax: 542-1231
Director-General: Mr. Wong Woon Liong
Develop and promote Singapore into one of the world's premier airports 
for passenger and airfreight through the continual expansion and 
upgrading of airport facilities.

Communications (Ministry of)  
460 Alexandra Rd., #39-00 PSA Bldg. (0511)
Tel: 270-7988; Fax: 279-9734
Minister: Mr. Mah Bow Tan
Policy planning in the areas of transport and communications. Develop 
and promote Singapore as a modern and major communications center.

Customs and Excise Department
1 Maritime Sq., #03-01/#10-01 World Trade Centre (0409)
Tel: 272-8222; Fax: 277-9090
Director-General: Mr. Koh Chong Hwa
Assess and collect import and excise, entertainment and film hire 
duties, license fees and government taxes.

Defence (Ministry of)
Gombak Dr., MINDEF Bldg. (2366)
Tel: 760-8828; Fax: 762-0112
Minister: Dr. Tony Tan (w.e.f. August 1, 1995)
Enhance Singapore's security with modern and well-equipped armed forces.

Economic Development Board
250 North Bridge Rd., #24-00 Raffles City Tower (0617)
Tel: 336-2288; Fax: 339-6077
Chairman: Mr. Philip Yeo
Promote foreign investment to Singapore and Singapore investment 

Education (Ministry of)
Kay Siang Rd. (1024)
Tel: 473-9111; Fax: 475-6128
Minister: Mr. Lee Yock Suan
Develop, implement and manage a flexible education system that will 
maximize Singapore's human resources.

Environment (Ministry of the) 
Environment Bldg., 40 Scotts Rd. (0922)
Tel: 732-7733; Fax: 731-9456
Acting Minister: Rear-Adm (NS) Teo Chee Hean
Responsible for all environmental issues.

Finance (Ministry of) 
8 Shenton Way, Treasury Bldg. (0106)
Tel: 225-9911; Fax: 320-9435
Minister: Dr. Richard Hu Tsu Tau
Policy planning in areas of government personnel and national taxes and 

Health (Ministry of)
16 College Rd., College of Medicine Bldg., (0316)
Tel: 223-7777; Fax: 224-1677
Minister: B.G. (NS) George Yeo
Provide a comprehensive, modern and effective health care service.

Immigration Department
95 South Bridge Rd., 7th/8th Storeys Pidemco Centre (0105)
Tel: 530-1801; Fax: 530-1840
Controller: Mr. Tan Tee How
Control the movements of persons in and out of Singapore and regulate 
the stay of foreigners.

Information and the Arts (Ministry of)
460 Alexandra Rd., #37-00 PSA Bldg. (0511)
Tel: 270-7988; Fax: 375-7860
Minister: BG (NS) George Yeo
Inform, educate and entertain to make Singapore a hub city for a 
culturally vibrant society.

Institute of Technical Education
460 Alexandra Rd. #28-00 PSA Bldg. (0511)
Tel: 775-7800; Fax: 273-1372
Director: Dr. Law Song Seng
Provide industrial training at artisan, trade and industrial technician 

Inland Revenue Authority of Singapore
Fullerton Bldg. (0104)
Tel: 535-4244; Fax: 535-5393
Commissioner: Mr. Koh Yong Guan
Assess and collect taxes levied.

Jurong Town Corporation
301 Jurong Town Hall Road (2260)
Tel: 560-0056; Fax: 565-5301
Chairman: Mr. Wong Hung Khim

Labour (Ministry of) 
18 Havelock Rd. #07-01 (0105)
Tel: 534-1511; Fax: 534-4840
Minister: Dr. Lee Boon Yang
Promote peaceful industrial relations, ensure balanced labor market and 
safeguard working conditions.

Law (Ministry of)
250 North Bridge Rd., #21-00 Raffles City Tower (0617)
Tel: 336-1177; Fax: 330-5887
Minister: Prof. S. Jayakumar
Advise the Government on legislation, manage state land and provide 
legal aid to needy persons.

Mass Rapid Transit (MRT) Corporation
251 North Bridge Rd. (0617)
Tel: 339-0955; Fax: 339-6918
Executive Director: Mr. Low Tien Sio
Regulate and implement MRT policies.

Nanyang Technological University
Nanyang Ave. (2263)
Tel: 791-1744; Fax: 791-9516
President: Dr. Cham Tao Soon
Provide practice-oriented engineering and business-oriented graduate 

National Computer Board
71 Science Pk. Dr. (0511)
Tel: 778-2211; Fax: 778-9641
Chief Executive (designate): Mr. Stephen Yeo
Implement the Civil Service Computerization Program, promote the 
development and encourage the use of information technology in 

National Development (Ministry of)
5 Maxwell Rd. #22-00 Tower Block MND Complex (0106)
Tel: 222-1211; Fax: 325-7254
Minister: Mr. Lim Hng Kiang
Facilitate the physical development of Singapore through rational, far-
sighted planning.

National Institute of Education
469 Bt. Timah Rd. (1025)
Tel: 469-5151; Fax: 469-5968
Director: Prof. Leo Tan
Training and further education of teachers and for education research.

National Productivity Board
2 Bt. Merah Central, NPB Bldg. (0315)
Tel: 278-6666; Fax: 278-6667
Executive Director: Mr. Lee Suan Hiang
Develop a world-class quality work force.

National Science and Technology Board
16 Science Pk. Dr. #01-03, The Pasteur
Singapore Science Park (0511)
Tel: 779-7066; Fax: 777-1711
Executive Director: Mr. Vijay Mehta
Develop Singapore into a center of excellence in selected fields of 
science and technology.

National University of Singapore
10 Kent Ridge Cres. (0511)
Tel: 775-6666; Fax: 779-5481
Vice-Chancellor: Prof. Lim Pin
Provide graduate and postgraduate education and research.

Ngee Ann Polytechnic
535 Clementi Rd. (2159)
Tel: 466-6555; Fax: 468-7326, 468-7962 
Principal: Mr. Khoo Chin Hean
Provide technical and commercial pre-tertiary education and training.

Port of Singapore Authority
460 Alexandra Rd., PSA Bldg. (0511)
Tel: 274-7111; Fax: 274-4677
Chief Executive Officer: Mr. David Lim
Maintain Singapore's position as one of the major ports in the world and 
promote safety of ship and cargo.

Public Utilities Board
111 Somerset Rd., #16-05 PUB Bldg. (0923)
Tel: 235-8888; Fax: 731-3020
Chief Executive Officer: BG (NS) Boey Tap Hap
Ensure efficient and sufficient supply of gas, water and electricity to 
all households and industrial users.

Public Works Department
5 Maxwell Rd. #19-00 & #20-00, Tower Block
MND Complex (0106)
Tel: 325-8833; Fax: 325-8848
Director-General: Dr. Tan Swan Beng
To provide and maintain a good network of roads, bridges, pedestrian 
walkways and car-park facilities.

Registry of Companies and Businesses
18 Anson Rd., #05-01/15 International Plaza (0207)
Tel: 227-8551; Fax: 225-1676
Registrar: Ms. Jocelyn Ong
Ensure companies and businesses comply with the Companies Act and 
Business Registration Act.

Registry of Trade Marks and Patents
51 Bras Basah Rd., #04-01 Plaza by the Park (0718)
Tel: 330-2700; Fax: 339-0252
Registrar: Ms. Liew Woon Yin
Regulate the use of trade marks to ensure orderly marketing of products 
and services and to safeguard interests of patent holders.

Singapore CableVision Pte. Ltd.
2D Ayer Rajah Crescent 
A.O.S. Building (0513)
Tel: 773-5088
Fax: 870-1690
President: Mr. Randall Coleman
Vice President: Dr. Daniel Goh
This is a joint venture between Singapore International Media (31%), 
Singapore Technologies Venture (24%), Singapore Press Holdings (20%) and 
Continental CableVision of U.S. (25%).

Singapore Environmental Management & Engineering Services Pte. Ltd. 
40 Scotts Road
#06-00 Environmental Building (0923)
Tel: 738-9720; Fax: 738-9719
General Manager: Mr. Donald Goh
Private company owned by ENV Corporation and Singapore Technologies 
Industrial Corporation.  ENV is set up by the Ministry of Environment.

Singapore Institute of Standards and Industrial Research
1 Science Pk. Dr. (0511)
Tel: 778-7777; Fax: 778-0086
Chief Executive Officer: Mr. Khoo Lee Meng
Act as the national standards body.

Singapore Polytechnic
500 Dover Rd. (0513)
Tel: 775-1133; Fax: 772-1971
Principal: Mr. Khoo Kay Chai
Provide technical and commercial pre-tertiary education and training.

Singapore Science Centre
Science Centre Rd. (2260)
Tel: 560-3316; Fax: 565-9533
Ag Director: Dr. Cheong Kim Thow
Promote science and technology and conduct of science education 

Singapore Sports Council
National Stadium, Kallang
Singapore 1439
Tel: 340-9570; Fax: 340-9537
Executive Director: Col (NS) Kwan Yue Yeong

Singapore Tourist Promotion Board
250 North Bridge Rd. #36-04 Raffles City Tower (0617)
Tel: 339-6622; Fax: 339-9423
Executive Director: Mr. Tan Chin Nam
Promote Singapore as a tourist attraction.

Singapore Trade Development Board
230 Victoria Street #07-00
Bugis Junction Office Tower (0718)
Tel: 337-6628; Fax: 337-6838, 337-6898
Chief Executive Officer: Mr. Barry Desker
Promote and enhance Singapore's exports to overseas markets.

Television Corporation of Singapore
Caldecott Hill
Andrew Road (1129)
Tel: 256-0401; Fax: 253-8119
Chief Executive (Channels 5 & 8): Mr. Lee Cheok Yew
Chief Executive (Channel 12): Ms. Sandra Buenaventura
Provide a radio and television service to inform, educate and entertain 
the public.

Trade and Industry (Ministry of)
8 Shenton Way, #48-01 Treasury Bldg. (0106)
Tel: 225-9911; Fax: 320-9260
Minister: Mr. Yeo Cheow Tong
Maintain Singapore's economic stability and promote economic growth.

Urban Redevelopment Authority
45 Maxwell Rd., URA Bldg. (0106)
P.O. Box 1393, Robinson Rd. (0106)
Tel: 221-6666; Fax: 224-8752
Chief Executive Officer & Chief Planner: Mr. Khoo Teng Chye
To resettle persons affected by public development projects, undertake 
land reclamation and to provide infrastructure for future development; 
to manage and maintain state property.

Trade Associations/Chambers of Commerce in Singapore

Singapore Chinese Chamber of Commerce and Industry
47 Hill St. #09-00 (0617)
Tel: 337-8381; Fax: 339-0605
President: Mr. Kwek Leng Joo
Promote, foster and protect the interests of Chinese corporations and 
Chinese carrying on commerce and industry in Singapore.

Singapore Federation of Chambers of Commerce and Industry
47 Hill St. #03-01 Chinese Chamber of Commerce Bldg. (0617)
Tel: 338-9761/2; Fax: 339-5630
President: Mr. Boon Yoon Chiang
Promote, foster and protect the interests of corporations and persons 
carrying on commerce and industry in Singapore.

Singapore Indian Chamber of Commerce and Industry
101 Cecil St. #23-01 Tong Eng Bldg. (0106)
Tel. 222-2855, 222-2505; Fax: 223-1707
Chairman: Mr. M.K. Chanrai
Promote, foster and protect the interests of Indian corporations and 
Indians carrying on commerce and industry in Singapore.

Singapore International Chamber of Commerce
6 Raffles Quay #10-01 John Hancock Tower (0104)
Tel: 224-1255; Fax: 224-2785
Chairman: Mr. Keith Tay
Promote, foster and protect the interests of international corporations 
and foreign nationals carrying on commerce and industry in Singapore.

Singapore Malay Chamber of Commerce
10 Anson Rd. #24-07 International Plaza (0207)
Tel: 221-1066; Fax: 223-5811
President: Mr. Haj Jalil Haron
Promote, foster and protect the interests of Malay corporations and 
Malays carrying on commerce and industry in Singapore.

Singapore Manufacturers' Association
(The Singapore Export Centre)
20 Orchard Rd., SMA Hse. (0923)
Tel: 338-8787; Fax: 336-5385
President: Mr. Robert Chua
Promote Singapore's manufactured products and develop the country's 
industrial base.

Association of Small and Medium Enterprises  
Blk. 139, Kim Tian Rd., #02-00 (0316)
Tel: 271-2566; Fax: 271-1257
President: Mr. George Gaspar
Promote and enhance the growth of small and medium-sized enterprises in 

Singapore Retailers Association
2 Bukit Merah Central, #15-03 NPB Bldg. (0315)
Tel: 272-3160; Fax: 271-3091
Chairman: Mr. Teh Ban Lian
Promote the interest of retailers.

Singapore Contacts Listed by Industry


Singapore Aerospace Ltd.
540 Airport Rd., Paya Lebar (1953)
Tel: 287-1111; Fax: 280-9713
President: Mr. Boon Swan Foo


Automation Application Center
61-A Blk., 1 Science Pk. Dr. (0511)
Tel: 779-7311; Fax: 779-5129
Director: James Ling
Promote automation in Singapore.

Singapore Industrial Automation Association
151 Chin Swee Rd., #03-13 Manhattan House (0316)
Tel: 734-6911; Fax: 235-5721
Executive Director: Mr. Stephen Teng
Promote the interests of industrial automation users.


Singapore Cycle & Motor Traders' Association
Blk. 261 Waterloo Centre, #03-09 Waterloo St. (0718)
Tel: 339-7648; Fax: 336-6181
Executive Secretary: Mr. Boo Yeow Phong
Association of vehicle traders.

Singapore Motor Cycle Trade Association
40 Sam Leong Rd. (0820)
Tel: 297-1991/297-1313
Admin. Officer: Mr. J. A. Dawes
Association of motor cycle traders.


Banks in Singapore (The Association of) 
10 Shenton Way #12-08 MAS Bldg. (0207)
Tel: 224-4300; Fax: 224-1785
Director: Mrs. Ong-Ang Ai Boon
Foster the growth of the banking industry in Singapore.

General Insurance Association of Singapore
1 Shenton Way, #14-01 Robina House (0106)
Tel: 221-8788; Fax: 227-2051
President: Mr. David Chan
Promote and safeguard the interests of the general insurance industry in 

Life Insurance Association
1 Selegie Rd., #06-17A (0718)
Tel: 338-3340; Fax: 336-0654
President: Mr. Law Song Keng
Promote and safeguard the interests of the life insurance industry in 

Monetary Authority of Singapore
10 Shenton Way, MAS Bldg. (0207)
Tel: 225-5577; Fax: 229-9491
Managing Director: Mr. Lee Ek Tieng
Act as the central bank of Singapore

Stock Exchange of Singapore Ltd.
20 Cecil Street, #26-01/08 The Exchange (0104)
Tel: 535-3788; Fax: 535-6994
President: Mr. Lim Choo Peng


Information Technology Institute
11 Science Park Drive, Singapore Science Park II (0511)
Tel: 778-9374; Fax: 777-3043
Director: Mr. Lim Joo Hong
The applied R & D arm of the National Computer Board.

Institute of System Science
National University of Singapore, Heng Mui Keng Terrace,
Kent Ridge (0511)
Tel: 775-6666; Fax: 778-2571
Director: Dr. Juzat Motiwalla
Formed primarily as a teaching institute but has evolved to include R & 
D programs with the broad goal of advancing state-of-the-art information 

Microcomputer Trade Association of Singapore
203 Henderson Road, #03-08 Henderson Industrial Park (0315)
Tel: 278-2855; Fax: 270-8128
Chairman: Mr. Tan Chin Ngiap 
The association was established in 1987 to promote computer trade.

National Computer Board
71 Science Park Drive (0511)
Tel: 778-2211; Fax: 778-9641
Chief Executive Officer: Stephen Yeo
Government agency responsible for promoting information technology in 

Singapore Computer Society
NCB Building, 71 Science Park Drive (0511)
Tel: 778-3901; Fax: 778-8221
President: Dr. Juzar Motiwalla
National Information Technology society for IT professionals in 

Singapore Federation of Computer Industry
NCB Building, 71 Science Park Drive (0511)
Tel: 775-1927; Fax: 778-4968
Chairman: Mr. Tay Siew Choon
Represents more than 100 of the most successful computer firms in 

GINTIC Institute of CIM
Nanyang Technological University
Nanyang Avenue (2263)
Tel: 791-1744; Fax: 791-1859
Director: Associate Professor Ho Nai Choon


Construction Industry Development Board
9 Maxwell Rd., #03-00 National Development Bldg., Annex A (0106)
Tel: 225-6711; Fax: 225-7301
Chief Executive Officer: Mr. Lam Siew Wah
Promote quality and productivity in the construction industry.

Association of Consulting Engineers, Singapore 
5001 Beach Road, #04-22, Golden Mile Complex (0719)
Tel: 292-4660; Fax: 292-4628
President: Mr. Goh Keng Yan
The Association is made up of professionally registered engineers in 
Singapore.  Ensure standards and look after interests of practicing 
consulting engineers.

Institution of Engineers Singapore
70 Bukit Tinggi Rd. (1128)
Tel: 469-5000; Fax: 467-1108
President: Dr. Su Guaning
Provide information on new technologies.  Promote and advance the 
science, art and profession of engineering in any or all its branches 
and facilitate the exchange of information and ideas related to 

Real Estate Developers' Association of Singapore
190 Clemenceau Ave., #07-01 Singapore Shopping Centre (0923)
Tel: 336-6655; Fax: 337-2217
President: Mr. Heng Chiang Meng
Promote the development of the real estate industry in Singapore.

Singapore Contractors Association Ltd. (SCAL)
Construction House, 1 Bukit Merah Lane 2 (0315)
Tel: 278-9577; Fax: 273-3977
President: Mr. Chuang Shaw Peng
Offer a venue and focus point for contractors to meet and discuss 
industrial matters, business cooperation and work toward the betterment 
of contractors.

Singapore Institute of Architects
20 Orchard Road., #02-00 SMA Hse. (0923)
Tel: 338-8977; Fax: 336-8708
President: Mr. Goh Chong Chia
Ensure a high standard of practice among practicing architects.

Singapore Institute of Landscape Architects (SILA)
617 Bukit Timah (1026)
Tel: 466-9211; Fax: 467-5915
President: Mr. Peter Scotts
Advance the art of landscape architecture and civic design in the 
Singapore environment.

Singapore Institute of Planners
23 Duxton Hill (0208)
Tel: 225-0322; Fax: 225-0366
President: Mr. Tan Kah Hoe
Advance the study of town planning, civic design and related arts and 

Singapore Institute of Surveyors & Valuers
20 Maxwell Rd., #10-09B Maxwell House (0106)
Tel: 222-3030; Fax: 225-2453
President: Mr. Tang Tuck Kim
Secretariat for quantity surveyors, valuers and land surveyors.


GINTIC Institute of Manufacturing Technology
Nanyang Technological University
Nanyang Avenue (2263)
Tel: 791-1744; Fax: 791-1859
Director: Dr. Frans M. A. Carpay

Institute of Microelectronics
11 Science Park Road, Science Park II (0511)
Tel: 779-7522; Fax: 778-7816
Director: Dr. Bill Chen

National Science and Technology Board
16 Science Park Drive (0511)
Tel: 779-7066; Fax: 775-5163
Director, Development Division: Mrs. Adams-Yau Lee Ying

Singapore Economic Development Board
#24-00 Raffles City Tower, North Bridge Rd. (0617)
Tel: 336-2288; Fax: 339-6077
Asst. Senior Industry Officer: Mr.Quek Swee Kuan

Singapore Industrial Automation Association
151 Chin Swee Rd., #03-13 Manhattan House (0316)
Tel: 734-6911; Fax: 235-5721
Executive Director: Mr. Stephen Teng

Singapore Institute of Standards and Industrial Research
1 Science Park Drive (0511)
Tel: 778-7777; Fax: 778-0672
Chief Executive Officer: Mr. Khoo Lee Meng

Singapore Trade Development Board
230 Victoria Street #07-00
Bugis Junction Office Tower (0718)
Tel: 337-6628; Fax: 337-6898
Manager: Mr. Thian Tai Chew

The Association of Electronic Industries in Singapore
6001 Beach Rd., #18-01 Golden Mile Towers (0719)
Tel: 294-0489; Fax: 298-4104
President: Mr. Hwang Koh Chee


Singapore Environmental Management & Engineering Services Pte. Ltd.
40 Scotts Road, Environment Building
Singapore 0922
Tel: 738-9720
Fax: 738-9719
General Manager: Mr. Donald Goh
A private company owned by ENV Corporation and Singapore Technologies 
Industrial Corporation.  ENV is set up by the Ministry of Environment.


Music Publishers Singapore Ltd.
9 Penang Rd., #10-01 Park Mall (0923)
Tel: 339-0884; Fax: 338-1878
Admin. Officer: Mr. Meric Yeo
An association of music publishers.

Rediffusion (Singapore) Pte. Ltd.
6 Harper Road, #04-01/08 Leong Huat Building (1336)
Tel: 383-2633; Fax: 383-2622
Managing Director: Mr. Wong Ban Kuan
Only private establishment that runs a cable broadcasting station in 

Singapore CableVision Pte. Ltd.
20 Ayer Rajah Crescent, A.O.S. Building (0513)
Tel: 733-5088; Fax: 870-1690
President: Mr. Randall Coleman
Vice President: Dr. Daniel Goh
Only supplier of pay TV in Singapore.

International Federation of the Phonographic Industry
1 Marine Parade Central #12-01 Parkway Builders' Centre (1544)
Tel: 346-5001; Fax: 346-5004
Regional Director: Mr. J. C. Giouw
Promote the phonographic industry in Singapore.

Singapore Film Society
Robinson Rd., P.O. Box 3714 (9057)
Tel: 235-2088; Fax: 732-2088
Contact: Kenneth Tan
Promote "artistic" movies and films in Singapore.

Singapore Phonogram & Videogram Association
1 Marine Parade Central #12-01 Parkway Builders' Centre (1544)
Tel: 346-1210; Fax: 346-5004
Admin. Executive: Ms. Laraine Soh
Promote the interests of the recording and video industry in Singapore.


Singapore Association of Food Equipment
Manufacturers & Suppliers
c/o Focus Management Pte Ltd
#06-03 Maxwell House
20 Maxwell Road
Singapore 0106
Tel: 222-8291
Fax: 222-3703


Diamond Exchange of Singapore
95 South Bridge Rd., #06-15 Pidemco Centre (0105)
Tel: 532-6565; Fax: 533-2165
President: Mr. F.J. Kahfi
Association of diamond traders.  Trade in loose diamonds.

Singapore Jewelers Association
38C North Canal Rd. (0105)
Tel: 535-2989; Fax: 533-0867
President: Mr. Wan Shung Ming
Association of jewelry manufacturers.


Association of Singapore Marine Industries
World Trade Center, 1 Maritime Square
Singapore 0409
Tel: 270-7883
Fax: 273-1867
President: Mr. C. H. Tong
Promotes the interests of members including shipyards, classification 
societies, marine suppliers and services.

Singapore National Shipping Association 
456 Alexandra Road
#09-02 NOL Building
Singapore 0511
Tel: 278-3464; Fax: 274-5079
President: Mr. Lua Cheng Eng


Academy of Medicine, Singapore
College of Medicine Bldg., 16 College Rd. #01-00 (0316)
Tel: 223-8968; Fax: 225-5155, 224-7827
Master of the Academy: Dr. Chao Tzee Cheng

Burn Injuries, Association of
(address same as Academy of Medicine)

Infectious Disease (Society of)
c/o Communications Consultants
336 Smith St. #06-302 (0105)
Tel: 227-9811; Fax: 227-0257
Director: Ms. Nina Sharma

Obstetrics & Gynecological Society of Singapore
c/o Department of Obstetrics & Gynecology
Kandang Kerbau Hospital, No. 1 Hampshire Road (0821)
Tel: 295-1383; Fax: 299-1969
Honorary Secretary: Dr. Tham Kok Fun

Pharmaceutical Industry (Singapore Association of)
151 Chin Swee Rd., #02-13A, 14 Manhattan House (0316)
Tel: 738-0966; Fax: 738-0977
President: Mr. Tan Chwee Choon
Plastic Surgeons (Singapore Association of)
(address same as Academy of Medicine)

Singapore Medical Association
(address same as Academy of Medicine)

Singapore Society of Ophthalmology
c/o Singapore National Eye Centre, 11 Third Hospital Ave. (0316)
Tel: 227-7255; Fax: 227-7290
Medical Director: Professor Arthur Lim

Singapore Society of Radiographers
c/o Department of Diagnostic Imaging
National University Hospital, Lower Kent Ridge Rd. (0511)
Tel: 772-5272; Fax: 772-5219

Society for Laser Medicine & Surgery
c/o Conference and Exhibition Management Services Pte. Ltd.
1 Maritime Sq., #09-43 World Trade Centre (0409)
Tel: 278-8666. FAX: 278-4077
Managing Director: Mr. Edward Liu


Packaging Industry Council of Singapore
c/o Singapore Manufacturers Association
20 Orchard Rd., SMA House (0923)
Tel: 338-8787; Fax: 338-3358
Chairman: Mr. C.S. Wong
Objectives include keeping members in the industry abreast of the latest 
development in packaging methods.


Straits Times Press (1975) Ltd.
Times House, 390 Kim Seng Rd. (0923)
Tel: 737-0011; Fax: 732-0131
Editor: Mr. Leslie Fong
Publishers of the Straits Times, Business Times and The New Paper.


Chartered Industries of Singapore Pte. Ltd.
249 Jalan Boon Lay (2261)
Tel: 265-1066; Fax: 261-6932
President: Mr. Lye Fei
Singapore Government-linked company involved in manufacturing and 
trading of armaments.

Commercial and Industrial Security Corporation
CISCO Center, 20 Jalan Afifi (1440)
Tel: 747-2888; Fax: 747-2275
General Manager/CEO: Mr. Chan Boon Kiong
Established under the Ministry of Home Affairs to provide security 
services.  Represents foreign security products.

Defence Materials Organization
50 Leo Bldg., Paya Lebar Airport, Airport Rd. (1953)
Tel: 380-2208; Fax: 380-2873
Director: Mr. Quek Tong Boon
Defense sourcing agency for the Singapore Armed Forces, particularly 
interested in high technology defence systems and armaments.

Defence Science Organization
20 Science Pk. Dr. (0511)
Tel: 772-7011; Fax: 775-9011
Director: Prof. Su Guaning
R & D arm of the Ministry of Defence.  Interests encompass technology-
based areas including hardware and software.

Ministry of Defence, Defence Procurement Division
1st/3rd Level, Leo Bldg., Paya Lebar Airport, Blk. 50,
Airport Rd. (1953)
Tel: 380-2700; Fax: 287-3052
Assistant Director: Mr. Eng Poh Tian
Defence procurement agency for the Army, Navy and Air Force.

Systems and Computer Organization
Blk. 8D Dempsey Rd., Tanglin (1024)
Tel: 470-7200; Fax: 473-8459
Directors: Mr. Goh Chin Hoe
A division of the Ministry of Defence to computerize various services of 
the Armed Forces.


Telecommunication Authority of Singapore
35 Robinson Road, TAS Building (0106)
Tel: 323-3888; Fax: 323-0964
Director-General: Mr. Lim Chuan Poh
Regulate and implement telecommunications policies.

Telecommunications Equipment Suppliers (Association of)
293 Onan Road, #02-02 (1542)
Tel: 447-4267; Fax: 344-3206
President: Mr. Ronnie Sim
Promote the interests of telecommunications equipment suppliers in 

Singapore Telecommunications Ltd
31 Exeter Road
Comcentre (0923)
Tel: 730-8833; Fax: 737-3691
Chief Executive Officer/President: BG (NS) Lee Hsien Yang
Provide all basic telecommunications services and mobile cellular phone, 
radio paging and satellite communications services.

MobileOne (Asia) Pte. Ltd.
10 Hoe Chiang Road
#05-03 Keppel Towers (0208)
Project Director: Mr. Jim Pitchford
Will provide mobile cellular phone and radio paging services in April 

Intraco Ltd
456 Alexandra Road, #14-00 NOL Building (0511)
Tel: 278-0011
Fax: 278-9938
Chief Executive Officer: Mr. Bernard Chen
Will provide radio paging service in April 1997.

ST Telecommunications Pte. Ltd.
3 Lim Teck Kim Road
#10-02 Singapore Technologies Building
Singapore 0208
Tel: 325-1600; Fax: 222-1020
VP/General Manager: Lee Theng Kiat
Will provide radio paging service in April 1997.


Singapore Master Tailors' Association
3E Lor 12 Geylang (1438)
Tel: 748-3878
President: Ms. Tham Siew Leng
Promote the interests of tailors.

Singapore Textiles & General Merchants Association
148 Neil Rd. (0208)
Tel: 223-8061; Fax: 222-3501
President: Mr. Kwong Chi Khiong
Promote the interests of textile merchants.

Textile and Garment Manufacturers'
Association of Singapore
60 Martin Road #07-16, TradeMart Singapore (0923)
Tel: 735-8390
Fax: 735-8409
President: Mr. Patrick Lee
Promotes the manufacture of textile and garments in Singapore. 
Represents and safeguards the interest of manufacturers.

Sewing Machine Traders Association
135 Middle Road #03-02
Bylands Building (0718)
Tel: 338-2256
Fax: 339-4976
Secretary: Mr. Steven Wong
Promotes the interests of sewing machine traders. 


Singapore Timber Exporters' Association
2 Finlayson Green, #07-01 (0104)
Tel: 224-2437; Fax: 225-7987
President: Mr. Anthony K. Y. Lo
Association of timber exporters.

Singapore Timber Manufacturers' Association
341B Beach Rd. (0718)
Tel: 298-0709; Fax: 291-9844
President: Mr. Chua Seng Chong
Association of timber millers.

Singapore Precision Engineering and Tooling Association
15 Kallang Junction (1233)
Tel: 291-6430; Fax: 292-4517
President: Dr. Ricky Souw
Promote the interest of tool and die manufacturers.

Singapore Furniture Industries Council
2 Jurong East St. 21, #02-110 IMM Bldg. (2260)
Tel: 568-2626; Fax: 568-2922
President: Mr. Choo Yong See
Association of furniture manufacturers.


Embassy of the Republic of Singapore-Washington
1824 R. St. N.W., Washington, D.C. 20009-1691
Tel: 202-667-7555; Fax: 202-265-7915
Ambassador: Mr. S. R. Nathan

Singapore Economic Development Board-Boston
8th Floor, One International Place, Boston, MA 02110
Tel: 617-261-9981; Fax: 617-261-9983
Centre Director: Ms. Loh Wai Kiew
Singapore Economic Development Board-Chicago
Two Prudential Plaza, 180 N. Stetson Ave., Suite 970
Chicago, IL 60601
Tel: 312-565-1100; Fax: 312-565-1994
Directors: Mr. Suresh Natarajan, Mr. James Ng

Singapore Economic Development Board-Los Angeles
2049 Century Park East, Suite 400, Los Angeles, CA 90067
Tel: 310-553-0199; Fax: 310-557-1044
Director: Mr. Tan Chek Ming

Singapore Economic Development Board-New York
55 East 59th St., New York, NY 10022
Tel: 212-421-2200; Fax: 212-421-2206
Regional Director: Mr. Goh Eng Ghee
Centre Director: Mr. Ng Nam Sin

Singapore Economic Development Board-San Francisco
210 Twin Dolphin Dr., Redwood City, CA 94065
Tel: 415-591-9102; Fax: 415-591-1328
Directors: Mr. Chong Lit Cheong, Ms. Adelaine Lim,
Mr. Pang Heng Soon

Singapore Economic Development Board-Washington
1350 Connecticut Ave. N.W., Suite 504, Washington, D.C. 20036-1701
Tel: 202-223-2570/2571; Fax: 202-223-2572
Director: Mr. Lee Yee Shyan

U.S.-ASEAN Council for Business & Technology, Inc.
1400 L St. N.W., Suite 375, Washington, D.C. 20005-3509
Tel: 202-289-1911; Fax: 202-289-0519
Executive Director: Mr. Ernest Bower

U.S. Chamber of Commerce
International Division
1615 H St. N.W., Washington, D.C. 20062
Tel: 202-463-5300
President: Mr. Richard L. Lesher

Other U.S. Agencies in Singapore

The American Chamber of Commerce in Singapore
1 Scotts Road #16-07 Shaw Centre (0922)
Tel: 235-0077; Fax: 732-5917
Executive Director: Ms. Donne Petito
Provide a platform for interaction among American business people in 

Asian Environmental Improvement Project (EIP)
20 Orchard Road, #02-00 SMA House (0922)
Tel: 334-3335; Fax: 334-5665
Consultant: Mr. William Hui

Port Authority of New York and New Jersey
CWT Distripark, 47 Jalan Buroh (2261)
Tel: 261-1061; Fax: 261-1659
Regional Director: Mr. Desmond Tamaki
Promote the use of New York/New Jersey region's port, airport and 
internodal facilities.

Private Investment and Trade Opportunities (PITO)/US-Asean Council for 
Business and Technology
One Colombo Court #07-08 (0718)
Tel: 338-8885; Fax: 339-1982
Regional Director: Joyce Rasmussen
They are also the ASEAN Liaison Office for the State of Indiana.

United States-Asia Environmental Partnership (USAEP)
One Colombo Court #04-07A (0617)
Tel: 334-3141; Fax: 334-1757
Representative: Mr. Sarath Kumar

Port of Seattle
Singapore Representative Office
60 Toh Guan Road, Level 3 Trident Districentre (2260)
Tel: 564-4866; Fax: 564-3415
Representative: Mr. Kirpa Ram Vij

State Of Oklahoma
Department Of Commerce
112-Killiney Road, Tai Wah Building (0923)
Tel: 733-5510; Fax: 733-5586
Representative: Tom Gibson


Industry Subsector Analyses from the U.S. & Foreign Commercial Service

FY 95 Reports Available Now

BLD - Building Retrofitting
BLD - Elevator/Escalator
BUS - Retailing Equipment (non-computer)
CPT - CAD/CAM Hardware
CPT - Printers
CSF - Entertainment/Educational/Game Software
DRG - Antibiotics
ELC - Semiconductor devices
GIE - Industrial Cleaning Equipment & Supplies
ICH - Industrial Chemicals
MED - Medical Disposables
MED - Optometric Products 
PLB - Pleasure Boats and Accessories
PME - Plastic Production Machinery
PRT - Port Facilities & Equipment
PRT - Shipbuilding and Repair
SPT - Bicycles
SEC - Alarms/Other Detection Equipment
TEL - Liberalization of Telecommunication
      Industry in Singapore

FY 96 Reports to be prepared

CON - Earth Moving Machinery and Parts
COS - Skin Care and Cosmetics
CSF - Applications Software
EIP - Disk Drive Production and Testing Equipment
FOD - Food and Beverages
FRA - Franchising:  Food Services/Restaurants
FRA - Franchising:  Health and Recreation Services
GCG - Home Furnishings, Carpets and Rugs
GCG - Household Kitchen Appliances
HCS - Health Care Services
LAB - Instrumentation and Monitoring Equipment
PCI - Flow Measuring Eq. for Process Control
POL - Air Pollution Control Equipment
PRT - Cranes
TEL - Data Communications Equipment

U.S. Department of Agriculture Commodity Reports and Market Briefs:

- Overview of the Foodstuffs Market
- Food Processing Industry
- Microwave Foods
- Health Foods
- Snack Foods
- Western Packaged Meals
- Processed Meats
- Juices
- Beer and Ale
- Fresh Vegetables
- Temperate Fresh Fruit
- Stone Fruits
- Apples
- Berries
- Grapes
- Pears
- Nuts
- Pistachios, Macadamias and Walnuts
- Peanuts
- Almonds


Singapore is a regional center for trade fair activity and hosts many 
events each year.  The following list is not exhaustive.  Contact FCS 
Singapore for additional information on trade fairs in Singapore.

Industrial Automation 1995
Venue: Singapore International Convention and Exhibition Center
Profile: Factory automation machinery, tools, robotics, materials
Date: October 4-7, 1995
Embassy contact: Leo Lee
Year of first show/frequency: 1989/Biennial
Net exhibition space (1995 estimate): 3900 sqm
Number of visitors (1995 estimate): 10,000
Number of foreign/local exhibitors (1995 estimate): 270/30
(USFCS Business Information Office)

Comdex at Singapore Informatics '95
Venue: Singapore International Convention and Exhibition Center
Profile: Computer hardware and software equipment and services
Date: October 26-28, 1995
USFCS contact: Chia Swee Hoon, (65) 338-9722
Year of first show/frequency: 1986/Annual
Net exhibition space (1994): 3,587 sqm
Number of foreign/local visitors (1994): 1,017/95,726
Number of foreign/local exhibitors (1994): 86/222
(USDOC Certified Trade Fair)

Sporting Goods Matchmaker Trade Mission
Profile: Sporting Goods
Date: November 2-3, 1995
USFCS contact: Seah Thiam Heng, (65) 338-9722
USDOC contact: Derek Parks, (202) 482-0287

Golf Asia '96
Venue: World Trade Center
Profile: Golf products and services, turf maintenance equipment, and 
design and architectural services
Date: March 28-31, 1996
USFCS contact: Seah Thiam Heng, (65) 338-9722
Year of first show/frequency: 1991/Annual
Net exhibition space (1995): 5,200 sqm
Number of visitors (1995): 7,130 (trade), 13,930 (public)       
Number of foreign/local exhibitors: 161/51
(USDOC Certified Trade Fair)

Environmental Technologies Matchmaker
Profile: Environmental products and services
Date: April 1996
USFCS contact: Leo Lee  (65) 338-9722

Food and Hotel Asia '96
Venue: Singapore International Convention and Exhibition Center
Profile: Food, hotel and restaurant equipment, supplies and services
Date: April 16-19, 1996
Embassy contact: Chia Swee Hoon, (65) 338-9722
Year of first show/frequency: 1986/Biennial
Net exhibition space (1994): 26,860 sqm
Number of foreign/local visitors (1994): 10,130/22,514
Number of foreign/local exhibitors (1994): 1224/261
(USDOC Certified Trade Fair)

Asian International Gift Fair '96
Venue: Singapore International Convention and Exhibition Center
Profile: Gifts, stationery and handicrafts
Date: April 23-26, 1996
Embassy contact: Tong Mee Mien (65) 338-9722
(USDOC Catalog Show)

International Spring Fair '96
Venue: Singapore International Convention and Exhibition Center
Profile: Consumer goods, household goods and general merchandise for 
personal use
Date: May 1996
USFCS contact: Seah Thiam Heng, (65) 338-9722
Year of first show/frequency: 1995/Annual
Net exhibition space (1995): 12,000 sqm
Number of visitors (1995): 5,906 (trade), 5,172 (public)       
Number of foreign/local exhibitors: 317
(USFCS Business Information Office) 

Medical Matchmaker Trade Mission
Profile: Medical equipment and health services
Date: June 1996
Embassy contact: Tong Mee Mien  (65) 338-0722

Computer Software Trade Mission
Profile: Computer Software 
Date: August 20-21, 1996 
USFCS Contact: Chia Swee Hoon, (65) 338-9722
USDOC Contact: Patricia A. Johnson, (202) 482-6157

Offshore Southeast Asia
Venue: World Trade Center
Profile: Oil and gas field equipment, services and parts
Date: September 24-27, 1996
Embassy contact: Leo Lee
Year of first show/frequency: 1976/Biennial
Net exhibition space (1994): 8719 sqm
Number of visitors (1994): 11,068
Number of foreign/local exhibitors (1994): 1012/355
(USFCS Business Information Office)

Venue: Singapore International Convention and Exhibition Center
Profile: Electronics manufacturing and testing equipment and components
Date: October 9-12, 1996 
USFCS contact: Chia Swee Hoon, (65) 338-9722
Year of first show/frequency: 1990/Biennial
Net exhibition space (1994): 26,700 sqm
Number of foreign/local visitors (1994): 7,288/20,743
Number of foreign/local exhibitors (1994): 163/321


Singapore's Parliament passed a new Patent Law at the end of 1994 which 
entered into force in February 1995.  The new law replaces the previous 
system whereby patent protection was accorded through registration in 
Great Britain.  It establishes patent registration in Singapore and 
provides product protection for a 20 year term.  While much of the new 
law is seen as an improvement over that which it replaced, certain 
provisions covering compulsory licensing and government use are 
inconsistent with the WTO TRIPs agreement, and in some respects, are 
inferior to the provisions in Singapore's previous patent law.  In 
particular, U.S. pharmaceutical companies have objected to provisions 
that allow very broad authority for general compulsory licenses, 
compulsory licensing provisions for food and medicines with no period of 
exclusivity for the patentee, very broad authority allowing government 
use of patents, and an overly broad application of the international 
patent exhaustion issue.  The Singapore Government has recognized the 
shortcomings of the new law and has given written assurances that the 
law will be amended by January 1, 1996 to make it consistent with TRIPs.

Singapore's Copyright Act came into effect in 1987 following intensive 
discussions with the United States.  Singapore recently became a member 
of the World Intellectual Property Organization (WIPO), but does not 
subscribe to any international agreement such as the Universal Copyright 
Convention (UCC) or the Berne Convention.  Generally, the Singapore 
Government has interpreted the Copyright Law in such a way as to place 
the onus of responsibility for enforcement on industry.  The Copyright 
Act covers (first level) musical, literary, dramatic and artistic 
property, and (second level) sound recording, films, broadcasting and 
published editions of works.

Computer programs and databases are also protected by the Copyright Act.  
Coverage is limited to reproduction protection and rights, with no 
coverage of rental protection and rights.  While Government enforcement 
efforts have increased, significant piracy still exists.  The Singapore 
Government has responded to long standing requests by the U.S. 
Government and industry for greater Government involvement in 
enforcement of laws against computer software piracy by prosecuting and 
jailing software pirates for the first time, pursuing an active public 
campaign in favor of IPR protection, publicizing the criminal 
prosecution of pirates, and in February 1995 creating a special IPR 
Warrant Unit of the police force, charged with executing search warrants 
for all IPR cases in Singapore.  The Business Software Alliance (BSA) 
estimates that 58 percent of computer programs used in Singapore are 
pirated and that losses to software developers due to piracy in 
Singapore amounted to US$33 million in 1994.
Piracy of imported videocassettes is low (about 4 percent) with 
estimated losses totalling US$1 million.  Progress has been made in 
stopping a significant number of imported works.  In particular, U.S. 
industry has worked closely with Singapore's Board of Film Censors (BOC) 
to develop a scheme to avoid BOC "approval" of pirated tapes, which 
gives them a false appearance of legitimacy.

Singapore's Trade Mark Act is administered by the Registry of Trade 
Marks and Patent.  The Registry maintains a list of trademarks 
registered as distinctive marks under the United Kingdom Trade Marks Act 
of 1938.  The Act was strengthened in March 1991 and now includes 
provisions for service marks in keeping with worldwide trends.

Trade Secrets
The Official Secrets Act and the Internal Security Act protect all 
Government trade secrets.  Investors' commercially valuable proprietary 
information is protected under common law by the Law of Confidence.

Semiconductor Chip Layout Design
Protection of semiconductor chip layout design is accorded under the 
Copyright Act and the Registered Design Act, to the extent of its 
registration, and the Patent Act to the extent that the layout design is 
an invention.


EDB Incentives
A summary of EDB-administered incentives follows:

--  Pioneer Status:  New manufacturing and service investments 
introducing high-tech skills can enjoy complete or partial exemption 
from the 27 percent corporate tax on profits for five to ten years.  The 
incentive may be extended.

--  Post-Pioneer Incentive:  Firms that make additional investments 
following the expiry of their pioneer or export incentives are eligible 
for a concessionary tax rate of 15 percent for up to 10 years.

--  Expansion Incentive:  Manufacturing and service companies that 
invest a minimum of S$10 million (US$6.5 million) in new production 
equipment and machinery can enjoy exemption from the 27 percent tax on 
profits in excess of the pre-expansion level for up to ten years.

--  Investment Allowance Incentive:  Companies, particularly those 
engaged in R&D activities, construction or projects to reduce 
consumption of potable water, are eligible for exemption of taxable 
income equal to a specified proportion (up to 50 percent) of new fixed 
investment.  The exempted firms must make the specified investments 
within five years.

--  Approved Foreign Loan Scheme:  A company that takes a minimum loan 
of S$200,000 (US$130,719) from a foreign lender for the purchase of 
productive equipment will be exempt from withholding tax on the interest 
payable to the lender if the tax relief does not result in an increase 
in tax liability in the foreign country.

--  Approved Royalties:  Full or partial exemption of withholding tax on 
royalties is given to eligible companies if the tax relief does not 
result in an increase in tax liability in the foreign country.

--  Venture Capital Incentive:  Companies with at least 50 percent local 
equity content, and incorporated in Singapore for tax purposes, that 
invest in approved new technology projects are eligible for this 
incentive.  Losses incurred from the sale of shares of up to 100 percent 
of equity invested overseas can be set off against the investor's other 
taxable income.

--  Overseas Investment Incentive:  Companies eligible for this 
incentive must be involved in investments in overseas projects.  The 
companies must be 50 percent owned by Singapore citizens or permanent 
residents, and must be incorporated and resident in Singapore for tax 
purposes.  These companies can offset losses incurred from the sale of 
shares or liquidation of up to 100 percent of equity invested overseas, 
against their other taxable income.

--  Export of Service Incentive:  Singapore-registered companies 
providing professional and other knowledge-intensive services to 
customers located outside Singapore are eligible for this incentive.  
These companies must derive a minimum of 20 percent of their revenues 
from offshore activities for the duration of the incentive.  Approved 
companies enjoy a tax exemption of 90 percent of the qualifying export 
income, i.e., only 10 percent of their qualifying export profit is taxed 
at the normal corporate rate of 27 percent.  The relief period is ten 
years with provision for extension.

--  Operational Headquarters (OHQ) Incentive:  Entities providing 
management and other approved headquarters-related services to 
subsidiary, associated, or related companies in other countries are 
taxed at the concessionary corporate rate of 10 percent.  The incentive 
is given for 10 years with provision for extension.

--  Accelerated Depreciation Allowances:  In lieu of the normal initial 
depreciation allowance of 20 percent and annual allowance of between 5 
to 20 percent on capital expenditure, companies can claim an annual 
depreciation allowance of 33 1/3 percent over three years for all plants 
and machinery.  They may also claim 100 percent in one year for 
computers, prescribed automation equipment, and robots.  Industrial 
building allowances may be depreciated over 25 years.

--  Overseas Enterprise Incentive:  Approved Overseas investments and 
projects.  Companies must be at least 50 percent owned by Singapore 
citizens or Singapore permanent residents, and incorporated and resident 
in Singapore for tax purposes.  Exemption of corporate tax on qualifying 
income.  Tax relief period is for up to ten years.

--  Warehousing and Servicing Incentive:  Regional warehousing and 
servicing activities.  Expenditure of not less than S$2 million in fixed 
capital investments.  One-half of qualifying export income is exempt 
from tax.  Tax relief period of up to ten years with provision for 

--  Business Headquarters (BHQ):  Eligible manufacturing and service 
activities.  Qualify for an incentive under the EEIA and provide 
business and professional expertise, business and management direction 
and key support services to companies in the region.  Incentives under 
the EEIA and tax exemption on dividend income received from offshore 
companies.  Tax relief period varies depending on the incentive granted.  

--  Double Deduction for R&D Expenses:  Eligible manufacturing and 
service activities.  Operating expenses (excluding depreciation) for R&D 
activities.  The R&D project must be carried out in Singapore.  Double 
deduction of qualifying R&D expenses against income. 

--  Double Deduction for Overseas Investment Development Expenditure:  
Eligible manufacturing and business activities.  Expenditure incurred in 
approved feasibility studies and overseas project offices.  Double 
deduction of qualifying expenditure against income. 

TDB Incentives
The TDB administers the following tax incentives, which are designed to 
enhance Singapore's status as a trading center for the Asia-Pacific 

--  Pioneer Status Scheme for Counter Trade:  Companies that engage 
solely in counter trade, doing at least one leg of each transaction 
through Singapore, can obtain pioneer status.  This status gives full 
exemption of income tax on profits arising from counter trade for a 
period of 5 years, and it may be extended.

--  Approved Oil Trader (AOT) Scheme:  Established oil traders who 
generate an annual turnover of US$100 million, spend at least S$500,000 
(roughly US$318,000) on business activities each year in Singapore, make 
extensive use of local financial institutions and trade infrastructure, 
and train local staff in trading expertise are eligible for this scheme.  
Approved oil traders will be taxed at a concessionary corporate tax rate 
of 10 percent on income derived from international trading activities in 
approved oil products.  The concession is for 5 years with a provision 
for renewal.

--  Approved International Trader (AIT) Scheme:  Conditions for the AIT 
scheme are the same as for AOT.  The one exception is that annual local 
business spending should be at least S$2 million (US$1.3 million).  
Under the AIT scheme, which is renewable every 5 years, a concessionary 
corporate tax of 10 percent will be levied on income earned from 
offshore international trading in approved commodities. 

--  Approved International Shipping Enterprise Scheme:  Large shipping 
companies with annual local business spending of at least S$4 million 
(US$2.6 million) and with at least 10 percent of their fleets (minimum 
one vessel) under the Singapore flag can enjoy tax exemption for an 
initial period of 10 years subject to a 5-yearly review.  The exempted 
income covers operations of non-Singapore-flag vessels outside Singapore 
and dividends from approved subsidiaries and associated companies.

--  Approved Aircraft Scheme:  The Approved Aircraft Leasing Incentive 
will take effect from the Year of Assessment 1996.  Under the scheme, 
approved aircraft operating lessors will enjoy a concessionary tax rate 
of 10 percent on income derived from offshore aircraft leasing 
operations.  To qualify for consideration, the company should:  use 
Singapore as an operations base; have directly attributable annual total 
business spending in Singapore of at least S$4 million by the second 
year of operation and S$10 million by the fifth year of operation; and 
employ at least three experienced marketing and technical staff.  Only 
income from qualifying aircraft leasing operations is eligible for tax 
concession.  The following constitute income from qualifying aircraft 
leasing operations:  income derived from offshore aircraft leasing 
operations; and dividends remitted from approved overseas subsidiaries 
and affiliated companies.  The incentive will be granted for a period of 
five years in the first instance, and may be extended thereafter.  

MAS Incentives
The MAS offers the following tax incentives to boost Singapore's 
position as the region's financial hub:

--  Finance and Treasury Center (FTC) Incentive:  To encourage MNC's to 
base their international or regional treasury and financing operations 
in Singapore, the MAS offers a concessionary corporate tax of 10 percent 
on income received by companies from the provision of such services to 
their subsidiaries and related companies.  Tax exemption is also given 
for all dividends received by companies with FTC status, including those 
repatriated to the parent company.

--  Tax Exemption for Syndicated Offshore Credit and Underwriting 
Facilities Scheme:  All income earned by the offshore units of financial 
institutions in Singapore from syndicated credit and underwriting 
facilities is exempt from corporate tax.  Two conditions apply:  a 
substantial portion of the syndication work must be done in Singapore, 
and the syndicate should involve three or more financial institutions. 

--  Tax Exemption Scheme for Offshore Fund Management:  This scheme 
exempts income earned by non-residents from local taxes if their funds 
are managed by fund managers approved under the scheme and invested in 
approved assets.  The management fees earned by these fund managers are 
taxed at a concessionary rate of 10 percent.

--  Financial Research and Development Scheme:  To encourage reputable 
financial institutions to conduct sophisticated, high value added 
financial activities, including derivatives trading and financial 
engineering, staff expenses incurred in the conduct of such activities 
are eligible for double deduction for tax.

--  Other incentives for financial sector:  Non-residents are exempted 
from tax on interest earned on deposits placed in approved banks in 
Singapore.  Income earned through offshore transactions and dividends 
distributed out of such profits are taxed at a concessionary rate of 10 
percent.  The concessionary tax rate of 10 percent is also given to 
income earned from offshore gold transactions by banks and members of 
the Singapore International Monetary Exchange (SIMEX).  Income derived 
by insurance companies from the business (other than life insurance) of 
insuring and reinsuring offshore risks is also taxed at the 
concessionary rate.

National Science and Technology Board Incentives
The NSTB administers the following incentives to encourage R&D 
activities in Singapore:

--  Research and Development Assistance Scheme:  Projects which raise 
Singapore's technological capability and have good commercial potential 
can obtain grants of up to 50 percent of total direct project costs.

--  Research Incentive Scheme for Companies:  Companies that develop or 
bring in specific R&D capabilities, and in the process train a 
significant number of research scientists and engineers, are eligible 
for grants to cover up to 50 percent of the incremental total research 
spending for a maximum of 5 years.

--  Patent Application Fund:  This fund provides financial assistance of 
up to S$30,000 (roughly US$19,000) to defray the costs of patent 
applications in Singapore, the United States, Britain or other 
countries.  To qualify, the research work leading to the patent must be 
conducted in Singapore, and the patent must belong to a Singaporean 
individual or company with at least 30 percent local equity.
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