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The port serves as a gateway for over 400 shipping lines to get goods to and from more than 130 countries worldwide. At any given time, Singapore is home to about 1,000 ships. It is the number one bunkering port in the world and the number two container port. In fact, it has been named the “Best Seaport in Asia” by Cargonews Asia for 15 years running. Not surprisingly, a host of local and multinational shipping and logistics companies have chosen to set up shop in Singapore in order to maximize all its strategic advantages. Becoming even more global Singapore’s strategic centralized position in Southeast Asia, excellent infrastructure and logistic capabilities are the major reasons why NYK Lines Asia, one of the largest shipping companies with regional headquarters based in Singapore, decided to launch its new company – NYK Logistics Asia – in July of this year. “With the launching of NYK Logistics Asia this year, our company now has a centralized headquarters in Southeast Asia for shipping and logistics services. This will ensure that the company’s operations will be smoother, quicker, more efficient and independent. We plan to use this position to further strengthen and develop our regional branch offices through organization and investments,” says Takamitsu Wakita, chairman & managing director of NYK Line Asia. In 2005, NYK Line Corporation based in Tokyo will celebrate its 120th anniversary. It recently launched a medium to long-term management vision plan dubbed “Forward 120” with the target of achieving a total revenue of around $12.25 billion by the fiscal year ending in March 2005, its 120th year of operations. This growth strategy is focused on “becoming even more global” and “seeking even more on-site activity.” In the past, the company’s headquarters in Tokyo was responsible for its entire global activities. Today, NYK Line’s operations are spread out around the world to achieve its full potential as globalization increases in the marketplace.
Diverse multinational activities in Asia To compete in the small, limited market in Singapore, many corporations must have a diverse range of activities yet remain focused on their core strengths at the same time. One example of a company that has made a substantial name for itself in this market is Pan-United Corporation. The company has had operations spanning the Asia-Pacific region since it was founded in 1958. Today, this publicly listed company with more than 700 employees has four integrated core business groups: Marine & Engineering, Port Operation, Shipping, and Industrial Trading. Pan-United Corporation aims to become an Asian multinational corporation by the year 2008 through its focused strategy of expansion, diversification and regionalization. In 2002, the company achieved a turnover of around $290 million and it is continuing to grow. “We are a growing company constantly improving on our core strengths and divisions to take advantage of every opportunity that lies ahead. These are our engines of growth. Our ultimate goal is to reach a market capitalization of $1 billion. Pan-United will continue its expansion in Asia and we want to bury our roots and be associated as a local company wherever we operate,” explains Henry Ng, deputy chairman and CEO of Pan United Corporation. The company expects tremendous growth over the next few years due to its port activities, which are growing at 70 percent a year. Its port located in Changshu in Jiangsu Province near Shanghai, is currently the seventh busiest port in China. Its position in this competitive market is climbing since the completion of its Phase 2 facility. This doubled its capacity to 4.5 million tons when completed in the first quarter of this year. The port is focused on the niche market of handling sensitive, high-value materials such as paper and steel products, which yield a higher return. Phase 3 of the port will be underway in 2004, guaranteeing further growth and success in the future. Almost one-third of Pan-United Corporation’s current turnover comes from its marine and engineering division. The company operates two world class shipyards located in Singapore and Batam, Indonesia. The company has earned a prestigious international reputation for its competencies in ship repair, ship conversion and ship building. The company also caters to the growing market for offshore vessels and activities. Pan-United’s shipping activities are concentrated in Southeast Asia, where it is the specialist for transporting bulk building materials. It handles products such as coal, gypsum, and aggregates. It is also involved in the management and operation of tug ships, barges and the chartering of its fleet of container vessels to some of the major shipping lines. The industrial trading arm of Pan-United is focused on transporting building materials to the Singapore market. It is involved with the mining of aggregates, trading refined petroleum products, importing cement from Japan and operating a cement terminal for distributing cement mix and producing ready-mix cement used in major infrastructure projects in Singapore. Pan-United is well positioned for further success through its determination to grow and its ability to evolve to meet changing market demands. “We are a medium sized company, which gives us an advantage in the market. We are nimble and able to respond to constantly changing market demands. We are prepared to take decisive actions to shift our strengths and sales mix. We must be adaptable to provide our customers with high-quality, fast service at competitive prices,” says Senior General Manager May Ng.
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Takamitsu Wakita, chairman and managing director of NYK Line Asia
Henry Ng, deputy chairman and CEO of Pan-United Corporation