Mr. Kevin Westley,

Chairman of the Board, Interpharma Investments Ltd;

Mr. Eric von Zwisler,

Chief Executive Officer, Zuellig Pharma Asia Pacific;

Distinguished guests;

Ladies and gentlemen;

A very good morning.

1. I would like to congratulate Zuellig Pharma on the official opening of your Distribution Centre at the Changi International LogisPark.I am told that this GMP-certified 30,000 sqm facility will not only house the local subsidiary, but will also be the premises for the regional HQ of the new Specialty Solutions Group.

2. Today’s opening marks yet another milestone in the growing partnership between Zuellig Pharma and Singapore that dates back to 1939.Over the last 70 years of successful operations, Zuellig Pharma has developed into the largest distributor in the pharmaceutical and healthcare sectors in Singapore. Zuellig’s distribution network spans 15 countries throughout the region. This new facility is also testament to Zuellig Pharma’s strong vote of confidence in Singapore’s competitiveness as an excellent and trusted supply chain hub for its regional customers.

3. This S$40 million state-of-art facility is equipped with warehousing, cold room and order fulfillment systems. Zuellig Pharma’s principals and customers will, therefore, stand to benefit from a higher standard of pharmaceutical distribution. Singapore’s healthcare supply chains will be enhanced through Zuellig Pharma’s innovative services such as those supporting complex clinical trial research, as well as anti-counterfeiting efforts for pharmaceutical products. It will consolidate and augment Zuellig’s position of strength in the industry, having recorded sales close to S$600 million in 2008, representing over 65% of the total pharmaceutical market share.

4. Currently, 11 of the world’s leading biopharmaceutical companies have invested in over 25 commercial-scale manufacturing facilities in Singapore. Over the next three years, seven plants are expected to come on stream. In R&D, more than 50 companies are carrying out activities that include drug discovery, translational and clinical research, regional clinical trial coordination and medical technology innovation. Against this backdrop, specialised logistics players such as Zuellig Pharma now play an increasingly important role in supporting the growing biomedical sciences industry.By offering a suite of high value added services, Zuellig is able to meet its customers’ increasingly complex global supply chain needs.

5. We welcome biomedical sciences companies to continue to leverageSingapore’s world-class infrastructure, excellent connectivity and the presence of leading players such as Zuellig Pharma, to gain a competitive advantage in the global industry landscape.

6. Against the current economic backdrop, the government has introduced various initiatives to assist companies to navigate this downturn and emerge stronger.There is a broad-based Jobs Credit scheme that provides employers with a cash grant to reduce the cost of wages and save jobs. In addition, the government has launched training schemes such as SPUR[1] and EDB’s PREP-UP initiatives that offer training programmes specific to sectors such as manufacturing and international logistics.

7. These training programmes will help companies to retain their talent base and enhance the skills of engineers, technicians and professionals.I urge all companies to ensure they and their employees benefit fully from these training initiatives so as to be well-positioned in terms of competitive capacity and capability when growth returns.

8. l also applaud the management and staff of Zuellig Pharma on your commitment to grow and broaden your repertoire of value-added services from Singapore.Thank you for your continued trust and confidence and we look forward to a long and cIose collaboration between Zuellig Pharma and Singapore. On that note, it is my pleasure to declare this Distribution Centre open. We wish you every success and the very best.