MEDIA RELEASE
Tech companies come on board IE Singapore’s
YTP Scholarship Programme to groom talent for
internationalisation
MR No.: 038/16
Singapore, Tuesday, 23 August 2016
1. As part of International Enterprise (IE) Singapore’s continuous efforts to build a pipeline
of global-ready talent, a total of 13 IE Singapore Young Talent Programme (YTP) and
Undergraduate Scholarships were awarded today. This included eight YTP
Scholarships and five IE Singapore Undergraduate Scholarships. The YTP Scholarship,
a mid-term undergraduate scholarship offered jointly by IE Singapore and Singapore
companies, saw six new partners come on board, with half from the technology sector.
2. Ms Low Yen Ling, Parliamentary Secretary from the Ministry of Education and Ministry
of Trade and Industry, was the Guest-of-Honour at the IE Global Scholarship Awards
ceremony. In her keynote address, Ms Low stressed the importance of building a
pipeline of global-ready Singaporeans for Singapore’s future economy.
3. Overseas expansion drives the growth of many Singapore companies, with talent at its
core. The scholarships aim to groom the next generation of talent with the right aptitude
to take on an international portfolio.
4. Mr Lee Ark Boon, Chief Executive Officer, IE Singapore said, “Singapore companies
cited manpower as a top concern when going overseas. The YTP Scholarship is an
initiative to get them started on a structured approach to develop business leaders for
their overseas operations. This year, six new companies joined us on the YTP
Scholarship programme. We hope to see more.”
International Enterprise Singapore is the government agency promoting international trade and partnering
Singapore companies in going global.
IE Singapore Media Release
23 August 2016
5. Launched in 2013, the YTP Scholarship Programme has a total of 16 industry partners.
As technology disrupts how businesses operate at home and globally, it is increasingly
important to develop talent with ready digital skills and capabilities. The new technology
companies coming on board corresponds to the growing demand for talents in the
digital services and solutions, data analysis, security and software development sectors.
Industry partners from other sectors include hospitality, infrastructure, transport and
logistics, and precision engineering. This year, the YTP Scholarship received 232
eligible applications, the highest since its launch.
6. Said Mr Jeremy Mun, Senior Vice President of Aztech Group Ltd, a new industry
partner in this programme, “As technology evolves and advances rapidly, there is a
need to ensure our industry’s viability and relevance by investing in and growing a pool
of globally competent manpower in Singapore. Being a product organisation with strong
Research and Development (R&D) capabilities, we believe strongly in nurturing young
talent and aim to provide participants with realistic industry and international exposure
to challenge them to achieve their fullest potential. The scholarship adds to our current
HR initiative on overseas internships for students and our way of contributing back to
society and making engineering an interesting career option.” With support from IE
Singapore’s YTP Market Immersion programme, Aztech also provides opportunities for
students to embark on an overseas internship attachment to its office in Dongguan,
Guangdong province in China.
7. Keppel Logistics Pte Ltd’s scholar, who was awarded in 2013, started work in June
2015. Mr Huo Jiongrui graduated from NTU with a Bachelor of Engineering (Materials
Engineering). He went on an eight-month overseas internship to Indonesia as part of
the Scholarship programme, and will be posted to Indonesia in 3Q this year to work on
operational improvement projects. As a Logistics Executive, he is currently looking at
work process improvement projects to increase productivity. This includes designing
operation processes, customer management and driving compliance to operation
processes. Although a young graduate, he was given the opportunity to manage a team
of 14 as part of the leadership development plan.
8. Said Mr Huo, “My time as an intern in Indonesia has given me deep insight into the
intricacies of developing a business, be it on local or foreign soil. As a Logistics
Executive in our Operations department, my knowledge was solidified, my resilience
tempered, and my attitude humbled as the team faced down numerous challenges. I
look forward to yet another trailblazing adventure when I return to Indonesia, in full
confidence that my experiences will guide me well.”
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IE Singapore Media Release
23 August 2016
9. To date, a total of 35 and 115 students have been awarded the YTP and IE Singapore
Scholarships respectively.
Annex: Speech by Mr Lee Ark Boon, CEO, IE Singapore
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_______________________________________________________________________
About International Enterprise Singapore
International Enterprise (IE) Singapore is the government agency promoting international
trade and partnering Singapore companies in going global. Our vision is a thriving business
hub in Singapore with Globally Competitive Companies and leading international traders.
IE Singapore attracts global commodities traders to establish their global or Asian home
base in Singapore. Today, Singapore is a thriving trading hub with a complete ecosystem
for the energy, agri-commodities and metals & minerals trading clusters.
Through our Global Company Partnership and Market Readiness Assistance, we also work
with Singapore-based companies in their various stages of growth towards being globally
competitive.
Our global network of overseas centres in over 35 locations provides the necessary
connections in many developed and emerging markets. Visit www.iesingapore.gov.sg for
more information.
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IE Singapore Media Release
23 August 2016
Annex
SPEECH BY MR LEE ARK BOON,
CHIEF EXECUTIVE OFFICER, INTERNATIONAL ENTERPRISE SINGAPORE,
IE SINGAPORE GLOBAL SCHOLARSHIP AWARDS CEREMONY
23 AUGUST 2016, 3:50PM,
IE SINGAPORE PREMISES
Parliamentary Secretary Ms Low Yen Ling,
Distinguished guests, parents, scholarship recipients,
Ladies and Gentlemen,
1. We are deeply saddened by the passing of former President S R Nathan. During the
National Day Rally, we were also reminded of the fragilities of the human body – not
just of PM taking ill during his speech, but also of Minister Heng Swee Keat’s earlier
stroke.
2. However, through all these, we also witness the indomitable and fighting spirits of our
leaders and their dedication to Singapore.
3. We too see young shoots of such spirit in you, our new scholars. And through the
scholarships, our hope is that we can nurture and grow not just your knowledge, but
more importantly your leadership, your values and your dedication to Singapore.
4. Today, we are presenting 2 scholarship awards – The Young Talent Programme (YTP)
Scholarship and the IE Singapore Undergraduate Scholarship.
5. Recipients of the IE Singapore Undergraduate Scholarship will return to serve in IE to
support trade promotion and the internationalisation of Singapore companies.
6. As the YTP Scholarship is a joint programme between IE and leading local companies,
recipients will be groomed for international careers in our Singapore companies.
7. But one thing is for sure, it is about Singapore and for Singapore, whether you are
serving in the public service or in the private sector.
Talents are at the Core of Companies’ Internationalisation
8. In IE, we have awarded more than 110 scholarships since 1995 to young
Singaporeans. Among the current 37 in-service scholars, the majority are working in
the frontline. They work directly with companies in their global expansion and develop
programmes and initiatives to grow Singapore’s trade and internationalisation. 30% of
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IE Singapore Media Release
23 August 2016
them are now serving as overseas centre directors in all parts of the world, and in
continents as far as Africa and South America.
Partnering Companies to Develop Global Talent
9. Similarly, through the YTP Scholarship which started in 2013, we have awarded 35
YTP scholars. This year, we received over 200 applications, the highest ever.
10. 6 new companies joined the programme this year, bringing the total participating
companies to 16. Among the new industry partners are DeClout Limited and V-Key Pte
Ltd in the technology field. This shows growing demand for talents in digital services,
solutions and security.
11. The YTP is an excellent example of public-private partnership. Together, we aim to
develop more business leaders with strong global perspectives, network and qualities.
We appreciate the YTP companies which share the same beliefs as IE.
Conclusion
12. I am glad that 13 young men and women will be receiving their scholarships today.
a. Upon graduation, 5 will serve in IE, while 8 will embark on international careers
with the YTP’s participating companies.
b. These companies are:
i. Advanced Holdings Ltd
ii. The Ascott Limited
iii. Aztech Technologies Pte Ltd
iv. DeClout Limited
v. V-Key Pte Ltd
13. To the scholarship recipients, I wish you the very best as you begin your journey.
14. I must also thank the parents, without whom we will not have these 13 highly motivated
and talented young men and women.
15. To the Singapore companies participating in the YTP, we look forward to your continual
support to groom global talents for Singapore. This is a partnership that IE Singapore
values deeply.
16. Before I conclude, let me quote some extremely valuable advice from former SR
Nathan. These points are from a 2008 speech he gave to scholarship recipients. “Hold
yourselves to the highest standard of integrity in all that you do, and remember your
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IE Singapore Media Release
23 August 2016
duty to serve the nation and your people…As leaders, remain humble and open to
views and ideas that are different from yours…Never be out of touch with the ground,
however far you may rise in your career…Continue to serve actively in your community
and to help the less privileged in our society.”
17. It is now my honour to invite Ms Low Yen Ling, Parliamentary Secretary, Ministry of
Education & Ministry of Trade and Industry on stage to deliver her keynote address. Ms
Low, please.
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