[12 July 2006]
SMU offers new international trading track - A first for Singapore tertiary education

Top international traders commit over $800,000 in support of the programme

Singapore, 12 July 2006 - The Singapore Management University (SMU) has launched a new International Trading track under its Bachelor of Business Management (Finance major) degree programme. Supported by International Enterprise (IE) Singapore, the agency under the Ministry of Trade and Industry which attracts top oil and international traders to use Singapore as a hub for their regional operations, the new specialisation is a first in Singapore tertiary education. It will equip SMU undergraduates with a strong foundation in international trading for a career in the fast growing and competitive trading sector. Talent development has been identified as key to Singapore's progress towards becoming an international trading hub where companies base their offshore trading operations in Singapore.

Nine top international trading firms (please see Annex) have committed a total of S$810,000 to mark their strong support for the programme as industry partners. BP Singapore, Concordia Agritrading Pte Ltd, Emirates National Oil Company (Singapore) Pte Ltd, Koch Refining International Pte Ltd, Lee Foundation (Regional Rubber Trading), Noble Group, Stemcor (S.E.A.) Pte Ltd, Swiss Singapore Overseas Enterprises Pte Ltd and Toepfer International - Asia Pte. Ltd. have each pledged S$30,000 annually over three years as sponsor organisations to provide scholarships, internships, industry collaboration, CEO seminar series, networking visits, research expertise and resources. Under the industry partnership, students will be given local and overseas internship opportunities with established trading firms to learn practical skills from industry experts and practitioners. SMU and IE Singapore will be exploring collaborations with established foreign specialised institutes with a strong reputation in international trading to develop and organise additional workshops for students.

SMU undergraduates who choose to pursue the specialisation in International Trading will be required to complete a suite of courses such as Principles of Trade Financing, Analysis of Derivatives Securities, Risk Management, International Shipping & Logistics, Shipping Economics, Corporate Governance, International Economics, and International Law. The specially structured curriculum will provide academic instruction on the principles and fundamentals of international trading. Students enrolled in the Bachelor of Business Management degree programme can fulfil the International Trading coursework requirements as part of the Finance major. Students from other degree programmes in SMU such as Accountancy, Economics, Social Science or Information Systems Management can also opt for this specialisation in International Trading as a second major in Finance. A recent survey of SMU students indicated that as many as 70% had an interest in this track.

Students pursuing the International Trading track will be given the opportunity to gain practical orientation to the environment and workings of the trading industry in the form of a two-week Business Study Mission to leading trading centres in Asia and Europe. The overseas study mission will take students to key trade and financial centres of the world such as London and Tokyo as well as to major ports, plantations, mines, refineries, processing plants, manufacturing facilities and warehouses in Asia and Europe. The visits will expose students to a broad spectrum of industries including oil, agri-commodities, metals, industrials and electronics as well as deepen their understanding of the entire value chain beyond textbook knowledge.

Said Mr Chong Lit Cheong, Chief Executive Officer of IE Singapore, the agency that administers the Global Trader Programme (GTP) to anchor top international traders here: "The development of trading talent is key to Singapore's progress as an International Trading Hub. This collaboration between the SMU and Industry Partners is a very good first step towards making Singapore a centre for thought leadership in the international trading sector."

"The backbone of any international business is trading. The skills of a professional trader are therefore highly sought after. He or she has to be highly numerate and possess the sharp ability to discern the market and develop strategies for trading. SMU recognizes the demand for such individuals with specialised trading skills. Together with our industry partners, SMU is well-positioned to groom the next generation of professional traders with our strong grounding in finance and business," said Professor Howard Hunter, President, Singapore Management University.

About International Enterprise Singapore

International Enterprise (IE) Singapore is an agency under the Ministry of Trade and Industry spearheading Singapore's efforts to develop its external economic wing. We were formerly known as the Singapore Trade Development Board.

Our mission is to help Singapore-based companies grow and internationalise successfully. We offer a wide range of services in over 35 locations worldwide by using a "3C" framework of assistance - Competency, Connections and Capital. We provide market information and assist enterprises to export, develop their business capabilities, and find overseas partners. At the same time, IE Singapore works to position Singapore as a base for foreign businesses to expand into the region in partnership with Singapore-based companies.

Please visit www.iesingapore.com for more information.