{"id":7896,"date":"2021-08-31T07:45:00","date_gmt":"2021-08-30T23:45:00","guid":{"rendered":"https:\/\/dollarsandsense.sg\/business\/?p=7896"},"modified":"2021-08-30T18:24:20","modified_gmt":"2021-08-30T10:24:20","slug":"companies-pm-lee-mentioned-in-his-national-day-rally-2021","status":"publish","type":"post","link":"https:\/\/dollarsandsense.sg\/business\/companies-pm-lee-mentioned-in-his-national-day-rally-2021\/","title":{"rendered":"11 Companies PM Lee Mentioned In His National Day Rally 2021"},"content":{"rendered":"\n

In his National Day Rally address, Prime Minister Lee Hsien Loong spoke about the recovery of the local as well as global economy. Despite having to restrict re-opening measures between May to August 2021, the Singapore has raised its growth forecast for this year to 6-7%<\/a>.<\/p>\n\n\n\n

As Singapore has vaccinated more than 80% of the population, PM Lee went on to mention that \u201cnow we must change gears\u201d. He also talked about the three things we must do to sustain longer term growth: (1) Preserve our status as a business hub; (2) Attract more foreign investments; (3) And grow Singapore companies and entrepreneurs.  <\/p>\n\n\n\n

He also reserved special praise for several companies \u2013 11 in total \u2013 during this year\u2019s National Day Rally speech.<\/p>\n\n\n\n

#1 Pfizer<\/strong><\/h3>\n\n\n\n
\"Pfizer
Source: Pfizer Singapore<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Pfizer, \u201cthe company that makes the vaccine\u201d as PM Lee said has been in Singapore for a long time. According to Pfizer, its\u00a02021 sales of the vaccines will top $33.5 billion<\/a>, and it shows no signs of slowing down \u2014 the company is currently\u00a0seeking US authorisation\u00a0for a booster dose of the vaccine.<\/p>\n\n\n\n

In Singapore, Pfizer has a 960,000 manufacturing facility in Tuas since 2003 hiring nearly 400 employees. It also operates a \u201cManufacturing Technology and Development Centre\u201d on Jurong Island since 2016. In Singapore, Pfizer also runs its lab services, which it states \u201cprovides reference standards to Pfizer\u2019s global network and our partners\u201d. <\/p>\n\n\n\n

Pfizer co-developed the Pfizer-BioNTech COVID-19 Vaccine used here in Singapore. <\/p>\n\n\n\n

Read Also: <\/em><\/strong>8 Business Owners Who Received The Singapore National Day Award In 2021<\/em><\/strong><\/a><\/u><\/em><\/strong><\/p>\n\n\n\n

#2 BioNTech SE<\/strong><\/h3>\n\n\n\n
\"BioNTech
Source:\u00a0BioNTech<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

PM Lee mentioned that BioNTech, the vaccine partner of Pfizer, \u201cwill also be setting up shop here\u201d.  BioNTech is a German biotechnology\/immunotherapy firm pioneering therapies for cancer and other serious diseases. <\/p>\n\n\n\n

It will set up its first Southeast Asia headquarters, and a fully integrated mRNA manufacturing facility, in Singapore. The hub will produce mRNA vaccines and act as\u00a0“a rapid response production capability for Southeast Asia to address potential pandemic threats\u201d<\/a>. BioNTech estimates that the hub will be operational as early as 2023 and will\u00a0create up to 80 jobs\u00a0in Singapore.<\/p>\n\n\n\n

#3 GlobalFoundries<\/strong><\/h3>\n\n\n\n
\"GlobalFoundries\"
Source:\u00a0GlobalFoundries<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

GlobalFoundries, a global leader in semiconductor manufacturing, already has 5 wafer fabs in Singapore and \u201cis building its sixth one\u201d. GlobalFoundries will be spending more than $5 billion to set up this\u00a0sixth wafer fab<\/a>\u00a0to meet growing demand, especially in the automotive, 5G mobility and secure devices segments.\u00a0<\/p>\n\n\n\n

When completed, the facility \u201cwill be the most advanced semi manufacturing facility in Singapore\u201d. The new fabrication facility is planned to open in 2023 and will create 1,000 new high-value jobs such as technicians and engineers, and more.<\/p>\n\n\n\n

#4 Zoom Video Communication<\/strong><\/h3>\n\n\n\n
\"Zoom
Source:\u00a0Economic Development Board<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

\u201cTwo years ago, I did not know what Zoom was.\u201d Most of us didn\u2019t know about Zoom before the pandemic, but now, it\u2019s difficult to think of a world without it. This pandemic not only transformed our understanding of Zoom, but also the way we adopt platforms like Zoom to continue with our business as well as social interactions.<\/p>\n\n\n\n

This is also why it\u2019s a proud achievement that Zoom has\u00a0opened a new\u00a0R&D centre in Singapore<\/a>, \u201ctheir first in South East Asia\u201d. This centre will supplement Zoom\u2019s existing R&D centres in the United States, India and China.<\/p>\n\n\n\n

The new R&D centre will hire hundreds of staff in key engineering roles. The company mentioned that it had selected Singapore for its exceptional engineering talent.<\/p>\n\n\n\n

#5 Carro<\/strong><\/h3>\n\n\n\n
\"Carro\"
Source:\u00a0Carro<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Carro was mentioned as one of the Singapore companies that \u201chave become global names\u201d. Carro is an AI-driven used car auction marketplace with more than 1,000 dealers, and Southeast Asia\u2019s largest automotive marketplace. Cars undergo a rigorous sanitation and 150-point inspection before being listed on Carro.<\/p>\n\n\n\n

Carro has free 24\/7 contactless car viewings at the carparks of Tiong Bahru Plaza and Midview City. How it works is that potential buyers unlock the car they want to view (by scanning the QR Code on the car bonnet) with the Carro app, then enter the car to get an inside-out feel for the vehicle. Carro\u00a0sold its first car<\/a>\u00a0in this way during the 2020 11.11 Singles\u2019 Day sale.\u00a0<\/p>\n\n\n\n

Prices on the platform are non-negotiable, but have no hidden fees.<\/p>\n\n\n\n

#6 SecretLab<\/strong><\/h3>\n\n\n\n
\"SecretLab\"
Source:\u00a0SecretLab<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

SecretLab, another Singapore company mentioned during the National Day Rally, is a local gaming chair designer\/manufacturer. They also sell fabric\/leather cleaners, pillows and metal desks.\u00a0<\/p>\n\n\n\n

Given how work-from-home has propelled the need to create a home office \u2013 and thus purchase a comfortable and ergonomic chair, it\u2019s not surprise that Secretlab made it into PM Lee\u2019s speech.<\/p>\n\n\n\n

Earlier in the year, SecretLab also made it into the news when ones of its co-founders bought a\u00a0Good Class Bungalow<\/a>\u00a0and a penthouse unit for $51 million.<\/p>\n\n\n\n

Read Also: Work-From-Home (Again): 5 Best Office Chairs From $149.90 To Improve Your Posture<\/a><\/em><\/strong><\/p>\n\n\n\n

#7 Carousell<\/strong><\/h3>\n\n\n\n
\"Carousell\"
Source:\u00a0Carousell<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Carousell\u00a0was mentioned together with Carro and SecretLab \u2013 as local companies waving the Singapore flag overseas. It is\u00a0backed by the likes of Naspers, Sequoia India, Rakuten Ventures and Telenor Group<\/a>, and has traction across eight markets in Southeast Asia and Taiwan and Hong Kong.<\/p>\n\n\n\n

According to its LinkedIn page, Carousell has over 580 employees. Forbes also states that, as of July 2020, Carousell has had\u00a0tens of millions of signups and upward of 250 million listings<\/a>\u00a0since its founding in 2012.<\/p>\n\n\n\n

#8 Hegen<\/strong><\/h3>\n\n\n\n
\"Hegen\"
Source:\u00a0Hegen<\/a><\/figcaption><\/figure>\n\n\n\n

Hegen, whose founder and CEO Yvon Bock featured in PM Lee\u2019s speech, \u201cexpanded into other markets\u201d from the start. It is one of the examples of Singapore companies that has gone \u201cout into the world, seize new opportunities, and grow their businesses\u201d. <\/p>\n\n\n\n

Hegen sells baby-feeding bottles and equipment and is an \u201caward-winning brand founded in 2015 to enhance the breastfeeding journey for parents all over the world\u201d. PM Lee also threw in a joke that the business has to be tough here as \u201cSingaporeans are making too few babies\u201d.<\/p>\n\n\n\n

During the pandemic, Yvon pivoted the company toward digital marketing, even conducting multilingual live streams. Now, Hegen\u2019s\u00a0main engine of growth is online sales<\/a>. PM Lee noted that Hegen has expanded internationally and gained a foothold in markets like Korea, China and even Israel.<\/p>\n\n\n\n

Read Also: <\/em><\/strong>What Does The Small Business Model Of The Future Look Like?<\/em><\/strong><\/a><\/u><\/em><\/strong><\/p>\n\n\n\n

#9, 10 and 11 Food Panda \/ Grab \/ Deliveroo<\/strong><\/h3>\n\n\n\n
\"Grab,
Source: Grab, foodpanda, Deliveroo<\/figcaption><\/figure><\/div>\n\n\n\n

PM Lee cited these three companies as examples of online platforms that hire delivery workers in Singapore. Delivery workers have become a common sight in Singapore. During the height of the pandemic, especially in the Circuit Breaker period in 2020, they also played a vital role in getting food and supplies to home.<\/p>\n\n\n\n

However, PM Lee mentioned that they do not have employment contracts, and therefore do not have access to workplace injury compensation, union representation, nor are paid CPF. However, he says that \u201cdelivery workers, are for all intents and purposes, just like employees\u201d. <\/p>\n\n\n\n

These companies may need to start treating their delivery- and driver- partners as employees.<\/p>\n\n\n\n

Read Also: Singapore Employment Act: 10 Statutory Requirements To Pay Employees<\/a><\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"A conducive place for local and global companies.\n","protected":false},"author":23,"featured_media":7898,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[364],"tags":[1162,1165,1164,1167,1168,1163,966,1166,1158,1161,623,1009,241],"yoast_head":"\n11 Companies PM Lee Mentioned In His National Day Rally 2021 | DollarsAndSense Business<\/title>\n<meta name=\"description\" content=\"During PM Lee's National Day Rally 2021, he mentioned 11 companies in Singapore - we look at all of them.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dollarsandsense.sg\/business\/companies-pm-lee-mentioned-in-his-national-day-rally-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"11 Companies PM Lee Mentioned In His National Day Rally 2021 | DollarsAndSense Business\" \/>\n<meta property=\"og:description\" content=\"During PM Lee's National Day Rally 2021, he mentioned 11 companies in Singapore - 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