Mr Tang Kin Fei, Group President & CEO, Sembcorp Industries

Your Excellencies,

Distinguished guests,

Ladies and gentlemen,

Good Morning.

Introduction

1                I am happy to join you at the official launch of the Sembcorp Global Asset Management System.  Much progress has been made since the opening of Sembcorp’s cogeneration plant and Technology & Innovation Centre three years ago, and today’s launch represents a new milestone in Sembcorp’s adoption of digital innovative technologies.

Partnering companies on digital transformation

2                Digital transformation is already taking place globally, and will only become more pervasive.  Hence, a key recommendation from the Committee on the Future Economy (CFE) is for our companies to embrace digital technology and strengthen their competitive advantage, be it through the development of new products, services and business models, or optimising their processes.  We are committed to support and partner our companies on their digital transformation journey. National-level movements such as the Smart Nation initiative and National Trade Platform, as well as the SMEs Go Digital programme announced at this year’s Budget are some of the key programmes we have established.

3                In addition, the Singapore Economic Development Board (EDB) has been growing the base of solution providers in Singapore who can work with lead adopters on new applications and solutions.  For instance, last year, Siemens opened its Digital Factory Manufacturing Design Consultancy in Singapore to help companies in structuring roadmaps to digitalise their factories. TÜV SÜD, a leading testing, inspection and certification provider, also started its Digital Service Centre of Excellence in Singapore.

4                While the Government can put in place the supporting initiatives and measures, companies that prepare themselves and build up the required capabilities to adopt digital technology will stand to benefit and be well positioned for the near future. For instance, there are many opportunities for our companies in the manufacturing and infrastructure sectors to increase operational efficiency, raise labour productivity and strengthen their overall competitiveness through digital transformation.

5                The Global Asset Management System is a good example of how Sembcorp is capturing the opportunities for digital transformation. Through this system, Sembcorp can now obtain consolidated real-time information on the status, performance and health of its utility assets across the world.  From a central location in Singapore, Sembcorp can apply advanced data analytics to the information collected to enable process optimisation, troubleshooting and predictive maintenance of its utility assets worldwide. 

6                We would like to encourage more companies to leverage digital technology and transform their operations.  Harnessing digital opportunities will not only improve our companies’ competitiveness, it will also create good job opportunities for Singaporeans working as system architects, data analysts and project engineers.  One example is Ms Koh Shin Nuo, who joined Sembcorp as an engineer in 2006 in charge of power and utility operations. Since then, Ms Koh has been involved in various digital-related projects, from modelling to the digitalisation of Sembcorp’s business performance management system. She is also part of the successful launch of the Global Asset Management System today, playing a role in its conceptualisation, sourcing, and implementation.

Collaborating with Sembcorp to develop our power utilities sector

 7                I would also like to take this opportunity to highlight the progress of Sembcorp’s collaboration with the Energy Market Authority (EMA) to enhance talent and R&D initiatives for our power utilities sector.  Sembcorp and EMA launched the Sembcorp-EMA Energy Challenge (SEEC) and the Sembcorp-EMA Energy Technology Partnership (SEETP) at the opening of Sembcorp’s cogeneration plant and Technology & Innovation Centre in 2014.

8                The SEEC aims to inspire more Singaporeans to join the power utilities sector.  Since its inception, it has organised experiential learning journeys, internships and competitions. For instance, Sembcorp’s cogeneration plant is one of SEEC’s “Powering Lives Trails” sites, where participants get to see exclusive behind-the-scenes energy facilities that are not usually open to the public. Since the launch of Powering Lives Trails in 2016, the sites have welcomed over 800 students and teachers. In addition, Sembcorp has reached out to 200 students from various IHLs through the “Power Quest” competition. The contest tested the students’ skills in solving real-world challenges faced by professionals in the sector. Winners of the competition are given cash prizes and awarded internship opportunities in Sembcorp. One of the winners is third year NTU student, Dylan Tan who has gained a valuable understanding of the operations and commercial aspects of the power business.

9                We are also moving ahead in the area of R&D. Under the SEETP, Sembcorp and EMA jointly launched two competitive R&D grant calls in May 2015 and in Feb this year.  These grant calls, which are open to our IHLs and companies, aim to support the development and commercialisation of solutions that will improve the productivity and efficiency of our power utilities sector.[1]  R&D areas include (i) the use of advanced sensors, robotics and automation for pipeline monitoring, as well as (ii) the recovery of waste heat from their plants.  Winning bids will have the chance of having their ideas further developed and test-bedded in Sembcorp’s facilities. We are looking forward to the exciting solutions that can come out of this!

Conclusion

10             Let me conclude by congratulating the Sembcorp team on the launch of the Global Asset Management System.  This system is a good example of how companies can respond to the opportunities in digital transformation. You are a shining example of how our Singapore companies can successfully leverage digital technology in their operations.  We look forward to deepening our partnership with Sembcorp.  Thank you.