Five leading entrepreneurs named winners of the EY Entrepreneur Of The Year™ 2018 Singapore awards

Singapore, 10 September 2018

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  • Dr. Stephen Riady of OUE Limited honored for entrepreneurial excellence in Asean
  • Honorary family business award for Sing Lun Holdings Pte Ltd

Professional services organization EY today announced the five recipients of its 17th EY Entrepreneur Of The Year (EOY) 2018 Singapore awards:

EY Von Lee Yong Miang   EY Entrepreneur Of The Year – Engineering and Construction
Mr. Von Lee Yong Miang, Chairman, Expand Construction Pte Ltd

EY Jeffrey Tiong   EY Entrepreneur Of The Year – Analytics Intelligence
Mr. Jeffrey Tiong, CEO, Patsnap

EY Cheong Chia Chou   EY Entrepreneur Of The Year – Media and Lifestyle
Mr. Cheong Chia Chou, Managing Director, Pictureworks Pte Ltd

Christopher Ng   EY Entrepreneur Of The Year – Sustainable Bathroom Solutions
Mr. Christopher Ng, Group CEO, Rigel Technology (S) Pte Ltd

EY Laurent Junique   EY Entrepreneur Of The Year – Outsourced Solutions
Mr. Laurent Junique, CEO, Teledirect Pte Ltd

Please refer to Fact sheet A for profiles of the winners and their companies.

Fact sheet A: EY Entrepreneur Of The Year winner and company profiles
(Information provided by winners’ companies)

a) EY Entrepreneur Of The Year – Engineering and Construction
Mr. Von Lee Yong Miang, Chairman
Expand Construction Pte Ltd

Quote on receiving the category award::
“It is our great honor to be recognized as the winner of the engineering and construction category. The honor belongs to the entire Expand family. We are one step closer to be the world class builders, world class professional.”

About Mr. Von Lee
Mr. Von Lee Yong Miang graduated from Nanyang Technological University (NTU) School of Civil Engineering in 1995. He joined the Housing & Development Board (HDB) as a project manager after graduation and left to join his brother in his signage business in 1998.

In 2000, he founded Expand Construction Pte Ltd. Expand Construction started at C3, the lowest rank, to reach A1, the highest rank for a company registered with the Building Construction Authority (BCA) in a span of 10 years. The company’s landmark projects include the Supertrees at Gardens by the Bay, Marina Bay Promenade and the upgrading of Orchard Road pedestrian mall. Major development projects include the Amber Residences, One Dusun Mixed Development, Macpherson Mall, Hotel IBIS @ Macpherson and Hotel Alessandra in Houston, Texas.

Mr. Lee received the Pingat Bakti Masyarakat (PBM) award in 2014 and Bintang Bakti Masyarakat (BBM) award in 2018 for his public service work, and the Nanyang Awards 2016 for his contribution to the University. He was also the overall winner of the Entrepreneur of the Year 2016, organized by Association of Small & Medium Enterprises (ASME).

Mr. Lee is 48 years old.

About Expand Construction
Expand Construction Pte Ltd is registered with the BCA as an A1 contractor in the General Building Works category and A2 contractor in the Civil Engineering Works category.

To date, Expand Construction has undertaken about S$1.5b worth of contracts both in the public and private sectors. It is building close to 5,000 units of BTO flats for the Housing and Development Board (HDB). Its portfolio also includes private condominiums, industrial buildings and warehouses and Design and Build Home Improvement Program projects.

Expand Construction’s landmark projects include the Supertrees at Gardens by the Bay, Marina Bay Promenade and Lee Kong Chian National History Museum.

The company achieved third position and sixth position in the Enterprise 50 Awards in 2017 and 2016 respectively. They were also ranked in the SME500 and Singapore 1000 companies from 2007 to 2017 and received the Green and Gracious Builder (Star) Award from BCA.

b) EY Entrepreneur Of The Year – Analytics Intelligence
Mr. Jeffrey Tiong, CEO
Patsnap

Quote on receiving the category award:
“It is a great honor to win this award this year. This would not be possible without the support of all the people around me - my family and my team.”

About Mr. Jeffrey Tiong
Mr. Jeffrey Tiong is the CEO of PatSnap, a global software company used by the world’s leading innovators such as NASA, China Mobile, and A*Star in Singapore.

Mr. Tiong founded PatSnap upon graduation in 2007 with just S$55,000 from the Media Development Authority’s students’ start-up grant. Today, PatSnap is the leading software provider of intellectual property analytics to over 3,000 organizations spanning 28 countries. He has grown PatSnap into a multinational entity with a global headcount of about 800 staff, spread across six offices in China, the UK, US and Singapore.

His passion for innovation and his continuous strive to be a better leader has helped Patsnap to secure consecutive Series A, B, C and D funding from Vertex Ventures, Summit Partners and Sequoia Capital respectively.

Jeffrey graduated with a BSc in Biomedical Engineering from the National University of Singapore. He is a father of two and divides his time between the UK, US, Singapore and China.

Mr. Tiong is 35 years old.

About Patsnap
PatSnap has brought together the world's most comprehensive R&D dataset in one easy-to-use platform to help innovation leaders analyze technology trends, assess new opportunities, conduct competitor intelligence and maximize return on IP assets. By combining millions of data points from patents, licensing, litigation and company information with non-patent literature, PatSnap provides the world's most innovative organizations with a new intuitive source of information to accelerate their R&D.

c) EY Entrepreneur Of The Year – Media and Lifestyle
Mr. Cheong Chia Chou, Managing Director
Pictureworks Pte Ltd

Quote on receiving the category award:
“Thank you EY for the award. This is indeed a significant milestone of my career. Special thanks to my family, business partners and colleagues who have supported me selflessly. This is for you!”

About Mr. Cheong Chia Chou
An entrepreneur at heart, Mr. Cheong Chia Chou co-founded GeoFoto Pte Ltd in 1999. As the Chief Architect, he developed system architecture and marketed imaging technology in collaboration with his alma mater, the National University of Singapore. As an extension of his line of work, he subsequently designed a state-of-the-art online photo printing system, which was sold to Fujifilm in 2001.

His passion for this industry led him to become the Founder and Managing Director of Pictureworks Pte Ltd, whereby his strategic direction has propelled the company to become a regional leader in digital imaging. Under Mr. Cheong’s helm, the company launched the world’s first photo printing kiosk for smartphones. It now has operations in more than seven countries, capturing more than 100m smiles annually.

Mr. Cheong is 43 years old.

About Pictureworks
Headquartered in Singapore, Pictureworks Pte Ltd is part of Pictureworks Holdings Sdn Bhd (PW Group). PW Group provides imagery capture and distribution platforms through its proprietary technology, PictureAir™ for theme parks, leisure and entertainment industries. PW Group is principally engaged in the provision of digital imaging, content solutions, software consultancy services, photographic services, trading in photographic and other automated kiosks and accessories, and licensing of imagery systems. The PW Group is the official imaging service provider and the licensor of imagery systems for more than 30 attractions across Asia-Pacific, Middle East, the UK and US, including major international theme parks such as LEGOLAND® Malaysia and KidZania in various parts of the world. In early 2018, PW Group expanded its footprint into the theme and amusement parks in Hong Kong and Shanghai.
 

d) EY Entrepreneur Of The Year – Sustainable Bathroom Solutions
Mr. Christopher Ng, Group CEO
Rigel Technology (S) Pte Ltd

Quote on receiving the category award:
“I am deeply honored to be selected as the winner for the sustainable bathroom solutions category. This is a great recognition for our hard work and definitely a strong endorsement for what we are doing. As an innovation-driven organization, we strongly believe that in business, we have to be proactive in adapting to changes to keep up with the times and ensure sustainability in our success. We will continue our innovation journey and endeavor to live up to our vision as a ‘World Renowned Sanitary Brand powered by Smart Technologies’.”

About Mr. Christopher Ng

Mr. Christopher Ng graduated with a Degree in Computer Science from the University of Alberta in Canada in 1985 and worked in an American MNC before embarking on his entrepreneurial journey, founding Rigel Technology in 1991.

Rigel was born out of a then-novel concept – an auto-flushing system for bathrooms, which was in line with campaigns at that time by the Singapore government to promote cleanliness and hygiene.

As Group CEO, Mr. Ng is no stranger to new ventures. He is well-known for championing the importance of an eco-friendly lifestyle through Rigel’s product lines, prior to the green-movement taking off globally. He also invested astutely by setting up two wholly owned China plants, which tested his perseverance and his vision for Rigel’s future. Since then, Mr. Ng has further expanded on his dream, establishing Rigel’s Global Headquarters & Innovation Centre at Singapore Changi Business Park as well as adding four subsidiaries throughout Asia to the Rigel brand.

Mr. Ng is 56 years old.

About Rigel

Rigel has been pioneering water-saving and energy-efficient bathroom technologies since 1991 by developing innovative and eco-friendly bathroom solutions. Their emphasis on progressive R&D has built up a portfolio of globally acclaimed bathroom products.

Rigel’s business activities spans the full spectrum of design, manufacturing, marketing as well as supply of bathroom products, encompassing their core product proposition of green innovation, intelligent technology and clean comfort. 

They have established their brand presence through an extensive sales and distribution network in more than 35 countries around the world, with registered offices setup in Malaysia, Indonesia, Vietnam and China. They also wholly own two factories in China that ensure their manufacturing capabilities.

To date, Rigel has completed numerous prominent projects including locally, Singapore Changi Airport Terminals 1 to 4, Marina Bay Sands, National Art Gallery, Singapore Sports Hub, as well as internationally, Pavilion Mall in Kuala Lumpur, Malaysia; Tianjin Eco-city in China and Mall Plaza Egana in Chile.

EY Entrepreneur Of The Year – Outsourced Solutions 
Mr. Laurent Junique, CEO
Teledirect Pte Ltd

Quote on receiving the category award:

"I am extremely proud to receive this award on behalf of everyone at Teledirect. We’ve designed an organization that is flexible and agile so that it can respond quickly to even the highest demands our multinational clients place on us. Teledirect is my baby but I want to celebrate this moment with my team whose incredible commitment, passion and perseverance amazes me every day. We employ incredible talented people who are bright and courageous. I trust them for their innovation and initiative as a team and the exceptional work they deliver.”

About Mr. Laurent Junique

Mr. Laurent Junique is the CEO of Teledirect, one of the leading business process services groups and trusted customer experience partner to some of the world’s most valuable brands.

Seeing the burgeoning promise and potential of the industry, Mr. Junique worked tirelessly to overcome many challenges to become one of the region’s pioneers by establishing and instilling at the core of Teledirect, a solemn promise to deliver innovative solutions that have a profound impact on today’s biggest brands. Mr. Junique built Teledirect from the ground-up from humble beginnings, and his hands-on entrepreneurial drive that shapes Teledirect, originates from those early days.

As a devoted husband and father of three, Mr. Junique enjoys spending time with his family in Singapore. He frequently travels between Teledirect’s locations around the world to meet what he considers to be his extended family – the employees that make Teledirect what it is today.

About Teledirect
Teledirect is a leading partner in outsourced business process services to multinational organizations around the globe and they are backed by a proven track record of success in the airline, luxury, insurance, banking and technology sectors.

Founded in 1995 and headquartered in Singapore, Teledirect has grown and its strategic offices across key Asia-Pacific economies and Europe include Hong Kong, Malaysia, Thailand, Philippines, China, Japan and Spain. Their 5,000 employees support insights-driven customer engagement centers that improve clients’ brand experience, increase customer satisfaction and generate revenue.

As a testament to their commitment to be the preferred augmented engine powering digital interactions of the future, they have been named one of the top 100 outsourced service providers in the world three times by the Global Services 100 and awarded over 150 industry awards for solutions delivered to the world’s most innovative and valuable brands.

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One of the winners will be named the EY Entrepreneur Of The Year 2018 Singapore, and represent Singapore at the annual EY World Entrepreneur Of The Year™ (WEOY) award in Monte Carlo in 2019 to compete with contenders from over 50 countries.

Singapore’s representative to the WEOY award will be announced at the EY EOY Awards Gala, to be held on 26 October 2018 at The Ritz-Carlton, Millenia Singapore. The gala will be officiated by Guest-of-Honor, Minister for Manpower and Second Minister for Home Affairs, Mrs. Josephine Teo.

The winners were selected from over 40 nominations by an independent judging panel, based on their merits in fulfilling the six global judging criteria, namely entrepreneurial spirit, financial performance/value creation, strategic direction, national and global impact, innovation and personal integrity/purpose-driven leadership.

Please refer to Fact sheet B for members of the judging panel and details of the judging criteria.

Fact sheet B: EY Entrepreneur Of The Year judging panel and criteria

Judging panel

Dr. Robert Yap (Chair)
Executive Chairman
YCH Group Pte Ltd
EY Entrepreneur Of The Year 2007

Susan Chong
CEO
Greenpac (S) Pte Ltd
EY Entrepreneur Of The Year 2014 – Sustainable Packaging Solutions

Dr. Ivan Lee
Vice President, Industry and Community
Singapore Institute of Technology

Lawrence Leow
Chairman and CEO
Crescendas Group
EY Entrepreneur Of The Year 2016 – Diversified Industries

Png Cheong Boon
CEO
Enterprise Singapore

Tan Chin Hwee
CEO, Asia-Pacific
Trafigura Pte Ltd

Keith Tan
Founding and Managing Partner
Dymon Asia Capital

Judging criteria

The following six judging criteria sets the global standard adhered to by each and every country participating in the EY Entrepreneur Of The Year awards.

  • Entrepreneurial spirit
    The individual is a risk-taker who sets very high standards and demonstrates an unflinching desire and determination to succeed despite significant obstacles.
  • Financial performance/ Value creation
    The business has demonstrated strong financial performance and maintains a good track record in raising finance. Coupled with quality investments and its focus on the development of human capital, the business has the potential for long-term sustainability.
  • Strategic direction
    The individual not only creates and turns business visions into realities, but also builds strategic alliances and empowers talents to achieve common goals.
  • National and global impact
    The business has displayed a high degree of potential for growth and expansion into international markets that has made national and global impact in terms of job creation and improved living economics.
  • Innovation
    The individual has pioneered a new approach or technology, embraces changes and continuously innovates.
  • Personal integrity/ Purpose-driven leadership
    The individual earns great respect and is able to communicate ideas and influence the wider community. The individual’s enforcement of socially responsible practices seeks to improve the quality of life. The individual demonstrates a commitment to the highest ethical and quality standards in business activities and operations.

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Chairman of the judging panel, Dr. Robert Yap, also Executive Chairman of YCH Group, comments on the winners this year:

“This year’s award winners stand out in their boldness to introduce new concepts, explore new technologies and challenge industry norms. Paired with their visionary foresight, these entrepreneurs identified the burgeoning demand for sustainable and digital solutions way ahead of their peers. This lent a focus to their innovation efforts, to develop products, services and ways of working that were aligned to emerging market needs, which contributed to the speed and scale of their business growth.”

Mr. Max Loh, EY Asean and Singapore Managing Partner, Ernst & Young LLP, explains how the winning entrepreneurs embody the award’s theme of “Embracing transformation, driving innovation”. He says:

“Our winning entrepreneurs stand up to disruption as an opportunity to innovate and grow even as they, like most other businesses, are confronted with many uncertainties and changes that come with a fast-evolving business landscape.  

“Von is exemplary of a leader who drives and thrives on change. Under his leadership, the business metamorphosed from a two-man signage outfit, to a certified construction firm, and to a diversified business with a property investment and development arm.

“When Jeffrey experienced difficulties in carrying out intellectual property (IP) due diligence, he saw an opportunity instead of a problem. His creativity and problem-solving abilities enabled him to overcome the odds as a fresh graduate to develop the world’s first automated IP landscaping tool.

“Chia Chou did not settle on his early success after selling his first online photo printing company to Fujifilm. He capitalized on digital innovation, and continued to develop new and patented imaging solutions, which enabled him to penetrate the highly competitive theme parks, leisure and entertainment industry.

“Christopher showed foresight in developing sustainable products to differentiate his company from competitors. While there were risks in concentrating on the nascent area of water conservation sensor technology, his vision paid off with continued public concerns on water scarcity.

“Laurent has successfully combined his people-centric approach with the adoption of new technological solutions, such as acquiring an integrated digital platform that simultaneously helps to train employees while providing a more consistent level of service to clients.”

Recognizing Stephen Riady’s entrepreneurial and civic leadership in Asean
Dr. Stephen Riady, Executive Chairman of OUE Limited has been named the winner of this year’s EY Asean Entrepreneurial Excellence award.

Mr. Loh says: “Stephen demonstrates responsive leadership in creating a property development business that seeks to positively transform the way buildings, places and communities are used. His impact on the society extends beyond the sphere of his business to his civic engagements, particularly in the area of education where the Stephen Riady Group of Foundations was set up to improve lives through education, empowerment and engagement.”

The EY Asean Entrepreneurial Excellence award is an honorary award that is presented on board the EOY platform (the award recipient does not compete for the EOY Singapore 2018 title). This award recognizes successful Southeast Asian businesses that contribute to the economy and community in the region.

Please refer to Fact sheet C for winner profile

Factsheet C: EY Asean Entrepreneurial Excellence Award winner profile
(Information provided by winners’ companies)

EY Asean Entrepreneurial Excellence Award
Dr. Stephen Riady, Executive Chairman
OUE Limited

Tolaram Group

About Dr. Stephen Riady 

Dr. Stephen Riady is the Executive Chairman of OUE Limited. He also serves as Executive Director of Auric Pacific Group Limited, Chairman and Executive Director of Lippo Limited, Lippo China Resources Limited and Hongkong Chinese Limited.

Dr. Riady holds various roles, including Founding Honorary Advisor of the University of Hong Kong Foundation for Education Development and Research, Patron of the Singapore Badminton Association and Fellow of the Duke of Edinburgh’s Award World Fellowship. He sits on the advisory board of the Sloan School of Management, Massachusetts Institute of Technology, is a committee member to promote economic cooperation between Fujian and Hong Kong, and is an Honorary Citizen of Shenzhen, China.

In 2010, the Stephen Riady Group of Foundations was established to grant scholarships and bursaries, and funded academic forums and conferences.

Dr. Riady was conferred the Chevalier de L’Ordre des Arts et des Lettres by the French government and awarded EY’s Strategic Investment Entrepreneur Of The Year in 2007.

Dr. Riady graduated from University of Southern California and holds a Master of Business Administration from Golden Gate University. He was conferred an Honorary Degree of Doctor of Business Administration from Edinburgh Napier University, and is one of the first Honorary University Fellows installed by the Hong Kong Baptist University.

About OUE Limited

OUE Limited (SGX-ST: OUE) is a diversified real estate owner, developer and operator with a real estate portfolio located in prime locations in Asia and the US. OUE consistently grows its business by leveraging its brands and proven expertise in developing and managing landmark assets across the commercial, hospitality, retail and residential sectors primarily in Singapore. With its core strategy of investing in and enhancing a stable of distinctive properties, OUE is committed to developing a portfolio that has a strong recurrent income base, balanced with development profits, to enhance long-term shareholder value. OUE is the sponsor of OUE Hospitality Trust and OUE Commercial Real Estate Investment Trust.


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Honoring the legacy of Sing Lun Holdings
Sing Lun Holdings Pte Ltd has been awarded the EY-Standard Chartered Family Business Award of Excellence, another honorary award that is presented on board the EOY platform.

Mark Lee Kean Phi, CEO, Sing Lun Holdings Pte Ltd says: :
“We are humbled and honored to be conferred the award. The family believes that the journey is just the beginning. As the baton is passed from the second generation to the third, Sing Lun still has a long journey to go. However, the family believes that by upholding the spirit of entrepreneurship that our forefathers have taught us, adopting the strong work ethics that was passed down, the willingness to make necessary changes to adapt to the new environment and adhering unfailingly to the family values that have tied us together, Sing Lun will continue to thrive and prosper for more generations to come. We shall never forget our roots, but we will let our branches reach new heights.”

Please refer to Fact sheet D for winner profile, eligibility and selection criteria.

Factsheet D: EY-Standard Chartered Family Business Award of Excellence Winner profile, eligibility and selection criteria
(Information provided by winners’ companies)

EY-Standard Chartered Family Business Award of Excellence
Sing Lun Holdings Pte Ltd

About Sing Lun Holdings:

The Sing Lun Group is a diversified company with three core pillars:

  1. Sing Lun Industrial – this pillar holds investments in manufacturing related businesses, including SL Global (the direct subsidiary of Sing Lun prior to the merger), its investments in services maintenance for the major oil companies, as well as various businesses that relates to the company’s core competency in manufacturing.
  2. Sing Lun Investments – this pillar holds investments in private equity and financial assets. This pillar manages its long-term capital by investing in a globally managed portfolio of equities and fixed interest securities.
  3. Sing Lun Real Estate – this pillar holds real estate development and investments projects that the family invests in for the long-term.

Eligibility:

  • Leadership of the company includes family member(s) from second or subsequent generations, or has multiple branches of a family involved in leadership. (i.e., one individual and first generation would not qualify for the award).
  • The family still has a significant ownership and voting stake and is primarily responsible for setting the strategic direction and values for the firm.
  • The legal form of the company or group of companies is not relevant.
  • Companies may be private or publicly traded.
  • If the shares and voting rights have been transferred to a trust, it will remain to be considered as family business if the family has dominant influence on the trust in a way described above.
  • The business or headquarter of the business is located in Singapore.

Judging criteria:

  • Company shows evidence of a successful, sustainable and long term-oriented strategy.
  • Company has adopted an effective and transparent corporate governance approach, enabling the execution of the desired strategy and living out of family values.
  • Company governance enables unity among the ownership family (i.e., little evidence of significant family disputes impacting the business).
  • Demonstrated the ability of the family to preserve company culture, tradition and values and maintain the entrepreneurial spirit and continued innovation over generations.
  • Evidence shown of exceptional personnel management.
  • Commitment to philanthropic causes or corporate social responsibility.
  • Other exceptional achievements such as business awards, public service etc.

 

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Sponsors and supporters

Standard Chartered Bank continues to be a major sponsor of the EY EOY awards program, as well as the co-presenter of the EY-Standard Chartered Family Business Award of Excellence, for the second year running.

Mr. Patrick Lee, CEO Standard Chartered Bank, Singapore says:
“The Bank prides ourselves as a trusted partner to our family business clients, some for generations, supporting them through our private banking and corporate banking services. Successful family businesses often strive to achieve profitability and growth while preserving family values and ties. Their focus on building a legacy that benefits the community and many generations to come is truly inspiring and worth celebrating.

This year’s award winner, Sing Lun Holdings Pte Ltd, has continued to evolve over the past 60 years, embracing change, innovating and developing its capabilities and people. It has successfully established its reputation in the global supply chain by providing high-quality products to the world market.”

Other sponsors and supporters include official media partners The Business Times; The Edge Singapore; The Peak; data partner Merrill Corporation; Action Community for Entrepreneurship (ACE); Enterprise Singapore and Singapore Business Federation.

The EY EOY awards program was launched in Singapore in 2002 to honor entrepreneurs who have created and sustained successful business ventures, as well as to coincide with the government’s focus on fostering entrepreneurship and grooming local entrepreneurs. Now in its 17th year, the awards has evolved into a leading business award in Singapore with an international presence and footprint. For more information about the EY EOY program, please visit ey.com/sg/eoy.

- Ends -

About EY
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.

This news release has been issued by Ernst & Young Solutions LLP, a member of the global EY organization.

About EY Entrepreneur Of The Year™ 
EY Entrepreneur Of The Year™ is the world’s most prestigious business awards program for entrepreneurs. The program makes a difference through the way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global awards program of its kind, Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 145 cities in more than 60 countries. ey.com/eoy

About Standard Chartered
Standard Chartered Bank in Singapore is part of an international banking group with over 80,000 employees and a 150-year history in some of the world's most dynamic markets. The Bank has a history of 159 years in Singapore, with its first branch here opened in 1859. In October 1999, it was among the first international banks to receive a Qualifying Full Bank (QFB) license, an endorsement of the Group's long-standing commitment to its business in the country.

The Bank transferred its Singapore Retail and SME business to a locally-incorporated subsidiary, Standard Chartered Bank (Singapore) Limited ("SCBSL") on 7 October 2013. After the transfer, all banking services offered to retail and SME clients, particularly deposit taking, wealth management services, overdrafts, personal loans, credit cards, auto financing, and mortgages, have been offered by SCBSL. SCBSL is rated one of the highest banks globally: Aa3 by Moody’s and A by Fitch Ratings.

Standard Chartered offers corporate and institutional clients services in trade finance, cash management, lending, securities services, foreign exchange, debt capital markets and corporate finance. The Bank also provides private banking services through its private banking division.

The Bank employs more than 8,000 people in Singapore and has a network of 16 branches, 5 Priority Banking centers and 31 ATMs.