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A*STAR And Sumitomo Mitsui Banking Corporation Ink MOU To Support Japanese R&D Collaborations With Singapore


8/19/2014 8:52:50 AM

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Partnership will enable SMBC customers to tap on A*STAR’s R&D infrastructure and expertise, as Japanese companies turn to Singapore to build capabilities for globalisation

Singapore—The Agency for Science, Technology and Research (A*STAR) and Sumitomo Mitsui Banking Corporation (SMBC) inked a memorandum of understanding (MOU) yesterday, with the aim of supporting Japanese R&D activities in Singapore for the next three years. The partnership will not only promote scientific and technological research activities in Singapore, but will also strengthen SMBC’s value proposition to its Japanese customers who are looking to globalise their business.

Mr. Masayuki Shimura, Managing Director and Head of Asia Pacific Division, SMBC said, “Singapore is a choice location for companies aspiring to develop and optimize their products to cater to the unique characteristics of the expanding markets in Southeast Asia, India and Oceania. A*STAR as Singapore’s lead R&D agency has established a wide spectrum of world-class research capabilities and a strong base of talent. Its open innovation framework that actively supports its industry partners both locally and overseas is an ideal platform for our customers who wish to expand their interactions with the region.”

"SMBC hopes to contribute further as a strategic bridge between Japan and the Asia Pacific region, including Singapore. With the partnership, SMBC continues its strong support to customers on their global strategic efforts through the organising of seminars and the provision of timely information on R&D activities in Singapore,” he said.

“Japanese companies are known to be among the most innovative in the world. This collaboration with SMBC is testament to the key role that A*STAR plays in Singapore’s innovation ecosystem where R&D is mission oriented for industry and economic impact. We look forward to continuing the momentum of impactful collaborations with our Japan counterparts and helping them globalise” said Prof. Raj. Thampuran, Managing Director, A*STAR.

A*STAR provides a unique infrastructure which is conducive to interactions and collaborations across institutes and disciplines through its activities centred in Biopolis and Fusionoplis, Singapore’s twin research hubs for biomedical and engineering research. By providing intellectual, human, and industrial capital to its partners in industry, A*STAR supports Singapore's key economic clusters. It also engages in collaborations with academia and industry to support a vibrant system of generating new ideas and innovations.

For media queries and interviews, please contact:

Angeline Ng Assistant Manager, Corporate Communications, Agency for Science, Technology and Research Tel: +65 6419 1149 Email: angeline-ng@scei.a-star.edu.sg

Elizabeth Tan Senior Executive Assistant, Corporate Communications, Agency for Science, Technology and Research Tel: +65 6419 6624 Email: tansiy@scei.a-star.edu.sg

Note to Editors: please email our media contacts for high-resolution photos for publication.

About the Agency for Science, Technology and Research (A*STAR)

The Agency for Science, Technology and Research (A*STAR) is Singapore's lead public sector agency that fosters world-class scientific research and talent to drive economic growth and transform Singapore into a vibrant knowledge-based and innovation driven economy.

In line with its mission-oriented mandate, A*STAR spearheads research and development in fields that are essential to growing Singapore’s manufacturing sector and catalysing new growth industries. A*STAR supports these economic clusters by providing intellectual, human and industrial capital to its partners in industry.

A*STAR oversees 18 biomedical sciences and physical sciences and engineering research entities, located in Biopolis and Fusionopolis, as well as their vicinity. These two R&D hubs house a bustling and diverse community of local and international research scientists and engineers from A*STAR’s research entities as well as a growing number of corporate laboratories.

For more information on A*STAR, please visit www.a-star.edu.sg.

About Sumitomo Mitsui Banking Corporation (SMBC)

Under Sumitomo Mitsui Financial Group (SMFG/http://www.smfg.co.jp/english/aboutus/profile/),Sumitomo Mitsui Banking Corporation (SMBC /http://www.smbc.co.jp/global/index.html) and its group companies offer a broad range of financial services centred on banking: leasing, securities, credit card, investment, mortgage securitization, venture capital and other credit related business.

SMBC offers wide range of financial products and services, especially for companies that aim to increase global presence by expanding their businesses overseas. To serve clients globally with regional expertise, SMBC established its RHQ function for the Asia Pacific Region in Singapore in 2008 beginning with credit, research and global advisory departments which further expanded to the set up of product teams for trade, property, maritime and aircraft finance.

SMBC has enriched and diversified its services to further support clients’ market entry and overseas investments by providing business & investment related information and seminars, and cross-border banking solutions. Marking its 50th anniversary in 2013 in Singapore, SMBC plans to further expand its presence in the region together with the strong economic growth of the Asia Pacific region.

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