From beer to banks, Singapore Inc makes its mark

SINGAPORE: Next time you stay in a luxury resort, buy a loaf of bread, open a bank account, sit on a massage chair, grab a sushi or sip a beer anywhere in Asia, check the company���s country of origin. Chances are you are dealing with a brand based in Singapore, the affluent city-state that has broken beyond its compact size to become a regional economic powerhouse.

With the global economy apparently on the mend, Singapore is all set to reap the benefits of stepped-up spending by Asia���s middle and upper classes in the coming years. Singapore Airlines has long been an iconic brand, but newer names like resort and spa operator Banyan Tree have established themselves as top-tier players in the region, and their ambitions go even further.

���From the very beginning when we created Banyan Tree, we said that we needed to be a global company,��� the firm���s founder and executive chairman Ho Kwon Ping said. ���If you don���t globalise... you eventually stagnate,��� he added. Over the next 12 months, the chain expects to open resorts in the United Arab Emirates as well as Acapulco, Mexico.

Other Singaporean companies are enjoying similar success throughout the Asian region. OSIM, a maker of electronic massage chairs and other lifestyle products like air purifiers, has over 1,100 outlets spread across 28 countries concentrated mainly in the region. OSIM founder and chief executive Ron Sim said: ���We believe that India, Korea and Japan are markets we are looking forward to.���

Budget carrier Tiger Airways is also becoming a mainstay in the travel industry, having established a wide network across the Asia-Pacific region with flights to 19 destinations from Singapore. It is not to be mistaken for Tiger Beer, now one of the most popular beverages in Southeast Asia.

Bakery chain BreadTalk, which gained instant success at home with its freshly baked buns, has moved on to build a loyal base of customers in Indonesia, the Philippines, China and Hong Kong. Singapore���s three local banks ��� DBS Group Holdings, Oversea-Chinese Banking and United Overseas Bank ��� are also well established with branches and affiliates spread across Asia.