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A*STAR, SMBC back Japanese R&D projects in Singapore

Posted: 25 Aug 2014     Print Version  Bookmark and Share

Keywords:R&D  MOU  engineering  biomedical 

Japan's Sumitomo Mitsui Banking Corporation (SMBC) has tapped the Agency for Science, Technology and Research (A*STAR) to reinforce SMBC's value proposition to its Japanese clients who are looking to globalise their business through scientific and technological research activities in Singapore.

"Singapore is a choice location for companies aspiring to develop and optimise their products to cater to the unique characteristics of the expanding markets in Southeast Asia, India and Oceania," said SMBC's Masayuki Shimura, Managing Director and Head of Asia Pacific Division.

A*STAR, SMBC back Japanese R&D projects in Singapore

A*STAR and SMBC representatives inked a memorandum of understanding earlier this week.

EE Times Asia reached out to A*STAR to find out what specific types of R&D activities they will be supporting in this partnership with SMBC. We were told that there are no specific sectors to be targeted so it can span from engineering to biomedical sciences.

"There has been growing interest from Japanese companies on R&D activities in Asia and to further develop products for the Asian markets, following the set-up of regional headquarters or subsidiaries in Singapore. This prompted the MOU between A*STAR and SMBC, to leverage on each other's strengths to help these companies globalise from Singapore. With the MOU, A*STAR will be jointly organising seminars, study tours and networking sessions with SMBC for its customers, enabling them to obtain timely information on R&D activities in Singapore," an A*STAR spokesperson explained.

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