M E D I A RELEASE

EZ-Link Pte Ltd introduces world’s first dual currency transit card at 5th Singapore- Collaboration Council meeting

The council to explore business opportunities in three pilot zones in Guangdong province – , Nansha and Qianhai

MR No.: 025/13 Singapore, Wednesday, 21 August 2013

1. As one of the earliest Chinese provinces to embrace reforms, Guangdong has been driving changes in the country. This effort is showing results with Guangdong leading China’s provinces in GDP growth for 24 consecutive years. In yet another first established by Guangdong, together with Singapore, Singapore’s EZ-Link Pte Ltd and Guangdong Lingnan Pass have jointly developed a dual currency transit card that can be used across international borders. A first-of-its-kind in the world, the card is called the SINO Visitor Pass. It made its debut at the fifth Singapore-Guangdong Collaboration Council (SGCC) meeting held in today.

2. Minister for Transport Lui Tuck Yew and Guangdong Vice Governor Zhao Yufang, Co- Chairmen of the SGCC, applauded this effort at the meeting. The Council’s secretariats are International Enterprise (IE) Singapore and Guangdong Foreign Affairs Office. Both leaders recognised the good progress SGCC has made, reaffirming Sino-Singapore Guangzhou Knowledge City as a catalyst to Guangdong’s economic restructuring and stressed the need to explore new ways of collaboration in Guangdong.

3. Said Minister Lui, “We have a strong and mutually beneficial partnership with Guangdong. As Singapore companies contribute to Guangdong’s economic transformation, Singapore is also seeing strong number of Guangdong tourists and businesses here. Last year, we received 266,000 Guangdong tourists; this is about

International Enterprise Singapore is the government agency driving Singapore’s external economy. IE Media Release 21 Aug 13

15% of total Chinese visitors to Singapore. In the same year, 12 Guangdong companies with a combined investment of US$240 million set up presence here. We are pleased with these positive developments and hope to do more with Guangdong.” (Please refer to Annex 1 for Minister Lui’s closing speech at the SGCC meeting)

4. Following the meeting, Minister Lui and Vice Governor Zhao witnessed eight project signings involving Singapore-based companies and organisations. (Please refer to Annex 2 for projects’ information)

World’s first transit card that crosses international borders

5. A business partnership supported by the SGCC, the SINO Visitor Pass developed by EZ-Link and Guangdong Lingnan Pass aims to enhance connectivity. To be issued by both companies in Singapore and Guangdong, the card will carry two currencies – Singapore dollar and RMB – and can be used at all points that accept either EZ-Link cards or Lingnan Pass. Businessmen and tourists that shuttle between Singapore and Guangdong can look forward to greater convenience as they make payments at over 100,000 retail and transit points with just one card. These include payments for public transportation and at convenience stores. Currently under pilot testing, the companies expect to officially launch the transit card in both markets in the first half of 2014.

6. In the second phase of development, EZ-Link and Guangdong Lingnan Pass intend to extend usage of the card to payment for a wider range of items, including goods, services and tickets of tourist attractions and performances. There are also plans to widen the card usage to other parts of China.

Exploring opportunities in pilot zones

7. In its latest push to upgrade its economy, Guangdong is focusing on three special economic development zones – Hengqin in Zhuhai; Nansha in Guangzhou; and Qianhai in Shenzhen. Tasked to experiment, innovate and bring about reforms in Guangdong and China, the three zones enjoy strong support from the Central Government in terms of preferential policies and incentives. Singapore companies offering high value-add services or innovative solutions in the services sector (including financial, education, healthcare, ICT and tourism etc) can contribute to the zones’ development.

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a. Hengqin in Zhuhai – The Hengqin Island has been designated as a free trade area and is being developed as a tourism and recreation base. b. Nansha in Guangzhou – The Nansha Development Zone was approved as China’s sixth National-level New Area 1 by the Central Government in September 2012. It is slated to be a key driver to broaden Guangdong’s economic and social development with new initiatives. c. Qianhai in Shenzhen - Qianhai will pilot initiatives to support China’s on-going financial reforms, including the internationalisation of the yuan.

8. Minister Lui is currently in Guangdong on a business mission in conjunction with the SGCC meeting. Taking place from 20 to 24 August, the mission is organised by IE Singapore and comprises of 67 business delegates from 40 companies. During the trip, Minister Lui will call on Guangdong Party Secretary Hu Chunhua, Guangzhou Party Secretary Wan Qingliang, Zhuhai Party Secretary Li Jia and Shenzhen Party Secretary Wang Rong. He will also witness the groundbreaking ceremony of the mixed development project by Yanlord and Ho Bee – Yanlord Marina Peninsula in Tang Jia Wan district, Zhuhai. (Please see Annex 3 for Singapore-Guangdong trade and investment statistics, and Annex 4 for Chinese terms)

Annex 1: Closing speech by Minister Lui Tuck Yew Annex 2: Information on Project signings Annex 3: Bilateral trade and investment figures between Singapore and Guangdong Annex 4: Pictures of SINO Visitor Pass and Yanlord Marina Peninsula Annex 5: Chinese terms ---End---

Note to Editor Please use ‘IE Singapore’ or ‘IE’ if an acronym for ‘International Enterprise Singapore’ is required. In addition, unless otherwise stated, the use of statistics cited in our media releases, website or Statlink, should be attributed to IE Singapore.

Issued by IE Singapore on behalf of SGCC.

For media enquiries, please contact: Ms Xiuxing AW Corporate Communications Group

1 The other five New Districts are: Shanghai Pudong New Area, Tianjin Binhai New Area, Chongqing Liangjiang New Area, Zhoushan Archipelago New Area and Lanzhou New Area.

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DID : + 65 6433 4722 Hp : + 65 9155 0433 Email : [email protected]

About International Enterprise Singapore International Enterprise (IE) Singapore is the government agency driving Singapore’s external economy. For the past 30 years, we have been spearheading the overseas growth of Singapore-based companies and promoting international trade. Our vision is a thriving business hub in Singapore with Globally Competitive Companies (GCCs) and leading international traders.

IE Singapore attracts global commodities traders to establish their home base in Singapore. Today, Singapore is a thriving trading hub for the energy, agri-commodities and metals & minerals trading clusters.

Through our Global Company Partnership, we work with Singapore-based companies to customise total solutions in capability building, market access and financing for their internationalisation.

Our global network of overseas centres in over 35 locations provides the necessary connections in many developed and emerging markets.

Visit www.iesingapore.com for more information.

Singapore-Guangdong Collaboration Council

The Singapore-Guangdong Collaboration Council (SGCC) was established on 24 March 2009, with the objective of promoting broader exchanges and cooperation between the business communities of Singapore and Guangdong. The launch of the SGCC was witnessed by then-Singapore Senior Minister Goh Chok Tong and then-Guangdong Party Secretary Wang Yang. Minister for Transport, Mr Lui Tuck Yew and Guangdong Vice Governor Mdm Zhao Yufang are the Co-chairmen of the Council.

Comprising leaders, government officials and private sector representatives from Singapore and Guangdong, the SGCC aims to promote cooperation between Singapore and Guangdong beyond economic areas, including training, tourism and education exchanges.

The council shall endeavour to achieve its objectives through the following means: a) Serve as a bridge between the economic and commercial entities and communities of Singapore and Guangdong; b) Exchange economic data and information to promote and guide bilateral trade and investment; c) Organise regular exchange activities between Singapore and Guangdong to expand cooperation in various areas / sectors; d) Resolve difficulties encountered in collaborative projects, establishing an excellent cooperation mechanism and an environment conducive for cooperation; e) Other forms of work that both parties think are beneficial for economic and social development

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ANNEX 1

CLOSING SPEECH BY MR LUI TUCK YEW, MINISTER FOR TRANSPORT & CO-CHAIRMAN OF THE SINGAPORE-GUANGDONG COLLABORATION COUNCIL (SGCC) AT THE 5th SGCC MEETING, 21 AUGUST 2013, GUANGZHOU

Your Excellency, Guangdong Vice Governor Zhao Yufang, Distinguished Council Members, Ladies and Gentlemen,

Good Morning.

Introduction 1. It is good to be back in Guangdong again. This is my 6th visit to Guangdong since 2009 and it is always a pleasure to meet with old friends. On behalf of the Singapore delegation and our Council members, I would like to thank Vice Governor Zhao as well as the Guangdong provincial and municipal leaders for your gracious hospitality.

2. 2013 marks Singapore-Guangdong Collaboration Council’s (SGCC) fifth year of formation. Compared to our first meeting in 2009, I can see more exchanges between both sides. This shows that Guangdong and Singapore are facing common challenges in the areas of transportation, sustainable economic development, healthcare, income distribution and urban renewal of old cities. We should discuss collaboration in these areas. It is also important to bear in mind that we need to engage the population when implementing such changes.

Singapore- Guangdong bilateral relationship 3. Guangdong is China’s largest province by economic size and at the forefront of the many changes taking place in the country. It continues to be Singapore’s top trading provincial partner in China, recording an impressive US$17.3 billion in 2012. If Guangdong were a country, it would be Singapore’s 12th largest trade partner2. In the same year, Singapore’s actual investments into Guangdong amounted to US$1.2 billion. This accounted for a good 19% of our total investments into China3.

2 Germany was Singapore’s 12th largest trade partner in 2012, with trade volume recorded at US$20.6 billion 3 Source: China Embassy in Singapore

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4. Relations between Singapore and Guangdong have grown from strength to strength, particularly since the formation of the Council. Notably, the collaboration between Singapore and Guangdong does not only focus on economics, but spreads across social and cultural fronts as well. It also allows for more comprehensive engagement.

5. One key project under the Council is the Guangzhou Knowledge City or GKC in short. Positioned as a vibrant and sustainable city for knowledge-based industries, GKC will catalyse Guangdong’s integration into the global economy. We have attracted global businesses and talents to the province. These include international brand names such as INDEX, a Danish organisation that designs sustainable solutions to manage global challenges; SIEMENS, a world leading healthcare solutions provider; HITACHI, a leading Japanese social infrastructure conglomerate; and HUHU, a New Zealand company contributing to the creation of groundbreaking content and high-calibre computer-generated animation.

6. I know from yesterday’s visit that a comprehensive programme to construct major roads within the Southern start-up area is likely to be completed by the end of this year. I am pleased with the good progress of the GKC, and confident that the GKC can achieve its vision of becoming an economic growth model and contribute to Guangdong’s economic transformation.

7. Apart from the GKC, various Singapore companies have also collaborated with Guangdong to set up world-class facilities that bring in international players. A good example would be ST Aerospace. Being the world’s leading aircraft MRO provider, ST Aerospace will attract airlines into Guangzhou for MRO services once the hangar at Baiyun Airport is completed.

8. CapitaLand is working closely with the government to redevelop the Datansha Island. Besides building new infrastructure, CapitaLand will help to facilitate the transfer of international experience in waste management, community management, vocational education and medical services onto the island. This will sustain and strengthen social cohesion on Datansha Island, balancing its economic development while addressing its social needs. The SGCC is observing this project with interest. It would be more challenging to transform something that is pre-existing as compared to building from a clean sheet.

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9. Skilled manpower is an essential plank of Guangdong’s ongoing economic transformation. Singapore has relevant experience to share in this area. NTUC Learninghub is exploring a partnership with the Guangdong Occupational Skills Testing Authority to enhance the existing skills testing and definition framework in Guangdong. The project will start with a training programme to meet the rapidly changing needs of the logistics industry. The polytechnics and universities have long standing collaborations with Guangdong too.

10. We have built up good momentum in our collaboration over the last four years. I think it is appropriate to express my appreciation to Guangdong Party Secretary Hu Chunhua and former Guangdong Party Secretary and current Vice Premier Wang Yang for their unwavering support, which is the bedrock of this bilateral relationship. They have given us their leadership and shared with us their vision.

Exploring new cooperation areas 11. Guangdong is pushing ahead with very meaningful initiatives in global integration and economic liberalisation to drive growth. Some of these will be implemented in the pilot zones of Nansha, Hengqin and Qianhai. I am going to visit these places and we will see many opportunities for collaboration here.

12. Qianhai will pilot initiatives to support China’s on-going financial reforms; Hengqin will provide many possibilities in tourism and healthcare; and Nansha will nurture new drivers to broaden Guangdong’s economic and social development.

13. We are also constantly looking for fresh ways to deepen our partnership. Singapore’s EZ-Link and Guangdong Lingnan Pass have jointly developed a common transit card that enhances business and tourism connectivity between Guangdong and Singapore. This is a world’s first dual currency transit card on a single smartchip that can be used across international borders.

14. In another example, China’s largest developer Vanke (万科企业股份有限公司) and Singapore’s Keppel Land recently entered into a strategic partnership to jointly develop properties in both Singapore and China. The companies will start with a residential development in Singapore. This partnership will enable both parties to learn from each other’s best practices and build new capabilities to compete more favorably in the regional arena.

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Internationalisation of Guangdong enterprises 15. We welcome Guangdong enterprises to partner our companies to address opportunities within China and internationally, especially in the fast-growing ASEAN countries. Some like Beijing Genomics Institute (华大基因研究院), Huawei (华为技术有限公 司), Midea Group (美的集团), Tencent Holdings (腾讯控股有限公司) and ZTE Corporation ( 中兴通讯股份有限公司) are already in Singapore. Our understanding of and networks in the region and expertise in legal, financial and advisory services will be a useful resource for firms looking to venture not only into Singapore but ASEAN and beyond. Last year, another 12 Guangdong enterprises set up in Singapore, investing a total of US$240 million.

Closing 16. Since the start of this Council, I have forged many great friendships. I would like to express my sincere appreciation to Vice Governor Zhao and the Guangdong government for your strong support. Thank you to all Council members and the Secretariats for your active participation and contributions too. This year’s discussion is especially active. I look forward to more years of great collaboration.

17. Thank you.

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ANNEX 2

PROJECT SIGNINGS AT THE 5TH SGCC MEETING, 21 AUGUST 2013

1) Project signing between EZ-Link Pte Ltd and Guangdong Lingnan Pass EZ-Link Pte Ltd and Guangdong Lingnan Pass agree to co-develop the first transnational global smartcard that incorporates dual electronic purses on a single smart chip; and to work together to promote the usage of SINO Visitor Pass in the public transport and tourism sectors

2) Project signing between Exklusive International Pte Ltd and Guangdong Foshan Jia Bang Real Estate Co., Ltd Jia Bang Real Estate Co., Ltd is engaging Exklusive International Pte Ltd to provide construction drawing and implement landscape contract for Phase One of its integrated office and retail project in Nansha district of Foshan.

3) Project signing between Sembcorp and Maoming Hi-Tech Industrial Development Zone Administration Committee Sembcorp signs a concession agreement to develop a 12,000 cubic metres/day industrial wastewater treatment plant. Phase one of project involves investment of 100 million yuan and is expected to operate in 2014.

4) Project signing between CPG Consultants Pte Ltd and Foshan Southern Packaging Co., Ltd CPG Consultants will provide master planning and architectural consultancy services for an industrial park located in Guangfo Economic Centre. The park will be situated in office buildings, with supporting commercial and entertainment facilities.

5) Sino-Singapore Guangzhou Knowledge City project signings by:

Sino-Singapore Guangzhou Knowledge City Investment and Development Co., Ltd (GKC Co.) with: i. Singapore Nanyang Technological University, South China University of Technology and Technical University of Munich to form an international tripartite collaboration in graduate research and education in the Guangzhou Knowledge City.

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ii. Singapore ITE Education Services to develop training and exchange programs for school management, teachers, students and workers, for Hi-Skilled Technicians Public Training Center and other vocational institutions. iii. Golden Verde Investment Ltd to establish a high-tech agriculture R&D centre in the Guangzhou Knowledge City, with initial registered capital of US$11 million. iv. Paradox Engineering to establish R&D centre for smart technology and a China headquarters in the Guangzhou Knowledge City.

The Administrative Committee of Sino Singapore Guangzhou Knowledge City with: v. Guangzhou Power Supply Bureau to cooperate in green power grid construction, integrated energy management and utilisation, smart communication, renewable energy development and utilisation, electric vehicles, etc.

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ANNEX 3

Singapore and Guangdong bilateral trade and investment figures

Trade  In 2012, bilateral trade between Singapore and Guangdong amounted to US$17.3 billion.  In the first six months of 2013, bilateral trade reached US$8.4 billion.  Guangdong remains Singapore’s top trading partner among provinces in China.  Singapore was Guangdong’s third largest trading partner in ASEAN, after Malaysia and Thailand in 2012.

Investments  In 2012, Singapore’s investments into Guangdong reached US$1.2 billion.  In the first six months of 2013, Singapore’s investments into Guangdong amounted to US$277 million.  As of end June 2013, Singapore’s cumulative investments into Guangdong reached US$8.2 billion with 2,257 projects.

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ANNEX 4 Pictures No. Picture Caption

1. Prototype of SINO Visitor Pass

2.

Artist’s impression of Yanlord Marina Peninsula 3.

Please contact Aw Xiuxing ([email protected]) for hi-res photos.

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ANNEX 5

Chinese terms

International Enterprise (IE) Singapore 新加坡国际企业发展局（企发局）

Singapore-Guangdong Collaboration 新加坡-广东合作理事会 Council (SGCC)

Mr Lui Tuck Yew 吕德耀先生 Minister for Transport 新加坡交通部长

Co-Chairman Singapore-Guangdong Collaboration 联合主席 Council 新加坡-广东合作理事会 Ms Zhao Yufang 招玉芳女士 Guangdong Vice Governor 广东省副省长 People’s Republic of China

Co-Chairman 联合主席 Singapore-Guangdong Collaboration 新加坡-广东合作理事会 Council

Mr Hu Chunhua 胡春华先生 Secretary of the Guangdong CPC 中共广东省委书记 Committee

Mr Wan Qingliang 万庆良先生 Guangzhou Party Secretary 广州市委书记

Mr Wang Rong 王荣先生 Shenzhen Party Secretary 深圳市委书记

Mr Li Jia 李家先生 Zhuhai Party Secretary 珠海市委书记

EZ-Link Pte Ltd 易通私人有限公司

Guangdong Lingnan Pass 广东岭南通股份有限公司

SINO Visitor Pass 一通粤新

Yanlord Marina Peninsula 仁恒滨海半岛项目

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