Appliance Repair Services: More Than 50 Logistics Companies Benefit From Government's S$42m Scheme

Sunday, December 16, 2012

More Than 50 Logistics Companies Benefit From Government's S$42m Scheme

More than 50 logistics companies benefit from government's S$42m scheme
By Brandon Tanoto Posted: 12 December 2012 2316 hrs

SINGAPORE: More than 50 logistics companies to-date have benefited from the government's S$42 million scheme to help the logistics sector improve its competitiveness.

Senior Minister of State for Trade and Industry Lee Yi Shyan revealed this at the opening of home-grown logistics provider Yang Kee Group's chemical logistics hub on Wednesday.

In March 2012, the Economic Development Board (EDB) and SPRING Singapore introduced a S$42 million five-year productivity roadmap for the logistics and transportation industry.

The roadmap contains a suite of capability building initiatives to help companies boost productivity and innovation.

The logistics and transportation sector makes up about 8 per cent of Singapore's GDP and employs more than 200,000 workers. Local SMEs account for 80 per cent of companies and employ 40 per cent of the sector's workforce.

Mr Lee said Yang Kee is a good example of a logistics company which has strengthened its operations by tapping into SPRING's schemes.

Over time, the company has expanded its services to include international freight forwarding, warehousing and project management for its customers.

It has also broadened its scope to serve the oil and gas, and chemical sectors.

The company opened its S$120 million chemical logistics facility at Jurong Pier Road on Wednesday.

The hub has specialised chemical storage capabilities and new technologies which improve productivity and reduce the firm's carbon footprint.

With its new facilities, the company said that it has reduced costs by S$2.7 million a year and achieved a 20 per cent gain in productivity.

- CNA/jc

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