Novartis, STATS ChipPAC recognised for contribution to S'pore economy
- POSTED: 28 Apr 2014 18:52
- UPDATED: 28 Apr 2014 23:47
Novartis International and STATS ChipPAC on Monday received the Distinguished Partner in Progress Award for their contribution to Singapore's economic growth.
SINGAPORE: Two companies have been recognised for their contribution to Singapore's economic growth, particularly through their investments and introduction of leading industry technologies as well as job creation.
Pharmaceuticals manufacturer, Novartis International, and local semiconductor company, STATS ChipPAC, received the Distinguished Partner in Progress (DPIP) Award on Monday from Deputy Prime Minister Teo Chee Hean.
The DPIP Award is a prestigious corporate award administered by the Economic Development Board.
Twenty-nine companies have received the award since its inauguration in 1991, having been identified for bringing significant value through a variety of activities such as manufacturing and research and development.
Novartis has invested more than S$1.5 billion in Singapore over the past 13 years, making it one of the top three investors in the biomedical sciences industry in the city-state.
Recently, it invested some S$600 million in building its first Asian biologics manufacturing facility in Singapore.
The global drug giant plans to leverage its location here to expand into the region.
On its part, STATS ChipPAC has invested almost S$2.4 billion over the last two decades.
It is now one of the top four outsourced semiconductor assembly and test companies globally.
Both firms have also developed manpower programmes to help Singaporeans prepare for jobs of the future.
They said innovation is important amid a tight labour market.
Christopher Snook, head of group country management at Novartis International, said: "We're developing new programmes which are unique to Singapore, designed to expose the talents that we are able to attract to Novartis to the different manufacturing environments, and equip them uniquely in what's becoming an increasingly competitive environment for talent."
Tan Lay Koon, president and chief executive officer of STATS ChipPAC, said: "One of the things we do is to change the kind of products that we do, one that's more capital intensive, less labour intensive.
“I talk about wafer level -- that's an area we're investing in Singapore. We don't do a lot of legacy stuff in Singapore; wafer level is one that's relatively more capital intensive in historical semiconductor assembly and test operations."