SMU students head for the Middle East to study business opportunities

The university's first Business Study Mission to the Middle East takes 32 undergraduates to the United Arab Emirates and Qatar

Singapore, 14 May 2007 – The Singapore Management University (SMU) is organizing the university's first Business Study Mission to the Middle East this month. A group of 32 SMU undergraduates from across various degree programmes will embark on a one-week study trip to the United Arab Emirates (UAE) and Qatar from 20 to 27 May 2007 to study the business environment in the Gulf region. The field trip is the overseas component of their “Business Study Mission” module which also comprises a series of intensive lectures and workshops leading up to the study mission. This is the first time in Singapore that undergraduates are visiting the Middle East as part of their university curriculum.

The seven-day itinerary, put together by the SMU students themselves with facilitation from the industry and government agencies, includes meetings and networking dinners with UAE government officials and diplomats; visits to established real estate firms such as Akar Properties and the Nakheel Properties; and site visits major developments such as Dubailand and Dubai Logistics City. The students will also get the chance to interact with Singaporean entrepreneurs with businesses in the Middle East as well as business leaders of Arab companies. Please see Annex 1 for the itinerary.

Preparatory coursework for the trip
In preparation for the trip, students are required to attend a series of core lectures over four weeks which introduce the theoretical contexts and frameworks applicable to the UAE and Qatar to accelerate understanding of the factors behind the region's development. Different speakers (please see Annex 2) from the industry as well as government agencies are invited to conduct special guest lectures on the various aspects of and experiences with doing business in the Middle East. The objective is to provide students with a more real and practical aspect to the course. Topics covered during the lectures include international business trends, business environment and making strategic business decisions in the Gulf region.

As part of the course requirement, students are required to complete and submit three group projects covering various subject matters of the UAE and Qatar . The first is a general overview study on the social, geographical and historical aspects of the region to acquire fundamental knowledge about the region. The second project is an in-depth study of companies present in or intending to internationalize into the UAE or Qatar . Students are required to approach a company of their choice, examine its strategy and provide an analysis and recommendation in a written report and presentation. The third and final project focuses on the booming real estate sector in the UAE, requiring students to produce a sector analysis of various aspects of the property market there. This last project comes with a S$10,000 cash prize for the top team made possible by the generous sponsorship of Mr Peter Tan, Founder and Director of D&D Financial Services Pte Ltd. The winning project will be presented as a consultation paper for Mr Tan who will consider the recommendations in deciding his company's investment stratagem in the UAE. Mr Peter Tan presently has property investments in Dubai worth $10,000,000 AED.

Industry support by offering internships
In addition to Mr Tan's generous support, which also includes a separate cash sponsorship of S$8,000 for the trip and possible internship openings in D&D Financial Services Pte Ltd, other organizations have also extended their support to the Business Study Mission. Akar Properties LLD, Surbana Corporation Ltd, and Banyan Tree Holdings, among others, have all made available opportunities for internships in Singapore and the Middle East. The industry support especially in providing internship placements for students will complement and further enhance the Middle East experience by giving them practical, hands-on industry exposure.

Panel discussion with Minister of State Mr Lee Yi Shyan
This morning's panel discussion on the topic, “The Middle East: More than just Black Gold” brings together Minister of State for Trade and Industry, Mr Lee Yi Shyan with two other prominent business leaders – Mr Bambang Sugeng, Managing Director of Capitaland Amanah Pte Ltd and Mr Fazlur Rahman, Executive Director (Middle East & Islamic Finance/Cross-Border Investments of Chesterton International Property Consultants Pte Ltd. It generated a very information and spirited discussion on opportunities in the Middle East. The dialogue serves as the penultimate event to the Business Study Mission as well as a flagging off gathering and tea reception for the students.

“I am proud to lead a team of 32 SMU students on the university's first study mission to the Middle East. What sets this Business Study Mission from others is the extent to which it is very much student-driven and student-initiated. From collating the course materials, sorting out the travel itinerary, negotiating for sponsorships and internships to liaising for guest speakers, these are all carried out by the students with minimal guidance. I believe they are enjoying every bit of the pre-departure planning and are looking forward to a very rewarding trip. For the benefit of the wider student body, all lectures preceding and during the course were thrown open to the entire university to allow all students, whether they are enrolled for the trip or not, to also gain insights on the fascinating world of the Middle East,” said Associate Professor Caroline Yeoh, Business Study Mission Course Instructor, Lee Kong Chian School of Business, SMU.

IE Singapore, who promotes the overseas growth of Singapore-based companies and international trade, welcomes the launch of the Business Study Mission programme. Said its Assistant Director for South Asia, the Middle East & Africa, Mr Terence Seow, “IE Singapore is pleased to support this first ever initiative to broaden the exposure of our students to current business trends and developments in the Middle East. The Business Study Mission programme cultivates a talent pool of young professionals who understand the way business is done in the Middle East. Through the learning experience of these students, we hope to grow the capabilities of Singapore companies in the area of manpower development for the purpose of overseas expansion.”

“I feel that the Business Study Mission is an eye-opening opportunity for students to discover more about businesses in the Middle East. The guest lectures and networking sessions enhance the experience because it allows us to interact with managers of various companies based both locally and in the Middle East. From the experience of previous study missions to other countries, students always return with an enriched experience of seeing how businesses are done in a different country with a totally different socio-political environment,” said Mr Muhamad Farhan Bin Mohammed Yusoff, second-year SMU business management undergraduate who is joining the overseas trip.

About the Business Study Mission
Using a country-specific study as its base, the Business Study Mission course examines the rapidly developing business environment of and the available opportunities in the Gulf Region, with particular emphasis on the socio-political, cultural, legal environments, and the influence they exert on business practices. Through case studies, student projects and guest lectures, the course aims to present students with real-life environmental influences and challenges that impact businesses in the Gulf Region. The course culminates in a trip to the location itself, where through a host of site visits, networking sessions, and presentations by prominent individuals in the region from both private and public sectors, it aims to facilitate the development of a greater understanding of the region. Participating students will return with an enriched knowledge not just of its business developments and the lessons that can be drawn from them, but also of the rich culture and history of the area. Both of the above, too, will aid participating students in extending their personal networks to the region. This Business Study Mission to the Middle East is one in a long list of study missions that SMU regularly sends its students every semester to key business hubs such as Argentina, Chile, China, New York, Spain, Germany, Thailand and India. Following the Middle East trip will be another one to Silicon Valley and New York in the second half of 2007.