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SPEECH BY MRS. LIM HWEE HUA,
MINISTER, PRIME MINISTER’S OFFICE AND
SECOND MINISTER FOR FINANCE & TRANSPORT
OPENING CEREMONY OF NEW FACILITY EXTENSION OF
SINGAPORE AERO ENGINE SERVICES
PTE LTD (SAESL)
TUESDAY 2 FEBRUARY 2010, 5:30PM
Mr
Gary Nutter,
Chief Executive Officer of
Singapore Aero Engine Services Pte Ltd
Mr Mike Terrett,
Chief Operating Officer of
Rolls-Royce PLC
Mr Stephen Lee,
Chairman of SIA
Distinguished Guests
Ladies and Gentlemen
Introduction
1.
I am extremely delighted to join you today for the opening ceremony of
Singapore Aero Engine Services Pte Ltd’s (SAESL) expanded facility in Singapore.
SAESL- A Key
Player in Singapore
Aerospace Industry
2.
SAESL has come a long way since they began operations in Singapore in 2001. Established as the Trent Centre of
Excellence providing MRO services to Rolls-Royce
Trent engine operators in Asia, SAESL has aggressively sought to expand
and upgrade its capabilities in Singapore over the last nine years. Not surprisingly, it has become the fastest
growing Trent Centre of Excellence with an impressive international portfolio
covering engine overhaul for 18 airlines around the world. Its growing
clientele includes Singapore Airlines, Emirates, Air Canada and Qatar Airways. Singapore is extremely proud to be
a partner of SAESL.
3.
As an integral part of the Rolls-Royce's aftermarket services with the
capability to support the full series of Trent Family engines globally,
including the new Trent 900 engines that power
the Airbus 380, SAESL is obviously a key player in Singapore's aerospace industry. Today’s
opening marks yet another milestone in the growing partnership between SAESL
and Singapore. Coupled with the recent announcement by Rolls-Royce
to set up an Aero-Engine Assembly and Test Facility in the Seletar Aerospace Park, SAESL’s
expansion further testifies to Singapore’s competitiveness
in the aerospace industry.
4.
The expansion of the SAESL facility adds to Singapore’s value proposition
as the MRO hub in Asia-Pacific as we constantly strive to
be a preferred base for MRO companies. Today, Singapore is recognised as having
one of the most established bases of MRO companies in Asia for engine
overhaul. This sub-cluster, including
both engine overhaul and engine component repair, accounted for about half of
our aerospace MRO output in 2008. SAESL, as one of two engine overhaul players
in Singapore, reported revenues of
US$856 million in 2008, accounting for almost one-fifth of our total
aerospace output.
“Home for Business, Home for
Talent” for aerospace companies
5.
Indeed, Singapore’s vibrant MRO sector is the result of
the industry’s hard work, the commitment of agencies like the EDB and
CAAS towards their valued partners worldwide, and the strong partnership with
key stakeholders. Today, SAESL’s
expansion in capacity and capabilities will not only generate significant
spinoffs to our local component repair shops but also contribute to Singapore's position as a
comprehensive MRO hub with nose-to-tail
repair capabilities.
6.
To support the demanding technical know-how required for engine
overhaul and repairs, Singapore has invested
significant resources in technical education. Over the last few years, our
Institutes of Higher Learning and Institutes of Technical Education have
launched aerospace courses or final year specialization with an aerospace
focus. In 2009, we graduated some 1000 aerospace-trained students, and we are
heartened by the good feedback from industry about the relevance of the
programs and the quality of the graduates.
I am also delighted to learn that a high proportion of SAESL employees
are local, skilled workers as it bears testimony to the competitiveness of
the Singapore’s technical
workforce.
7.
The aviation sector is important to Singapore. To further generate opportunities
for companies and individuals, CAAS has recently announced that they will be
setting up an Aviation Development Fund with a budget of $100 million over
the next five years. This fund will support
the industry development goals through a set of incentives aimed at enabling
enterprise, ideas and people. CAAS will be announcing details of the schemes in April this year.
8.
Maintaining a first-class business environment and infrastructure, and
nurturing a skilled and flexible workforce are part and parcel of our key
initiatives to make Singapore an essential home for
talents and businesses of aerospace companies in Asia. I would like to assure you that the Singapore government remains
committed to building Singapore as an aerospace centre
of choice.
conclusion
9.
In conclusion, I would like to thank our
partners, like SAESL for your trust and confidence in Singapore. We have been able to come so
far because of the strong support that we have been receiving and will
continue to receive from you. Let me
congratulate the management and staff of SAESL on the success of your
operations in Singapore. I am confident that this expansion project will create even greater
opportunities and set the stage for realising your expansion plans into the
future. Thank you.
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