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SMU students head for the Middle East to study business opportunities
- United Arab Emirates: Monday, May 14 - 2007 at 09:28
- PRESS RELEASE
The Singapore Management University (SMU) is organizing the university's first Business Study Mission to the Middle East this month.
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 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) 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.
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Notes and media contacts
For media queries, please contact:Mr Chan Jingzhong
Singapore Management University
Mr. Mohammad Dzarrin
Singapore Management University
About Singapore Management University
Incorporated on 12 January 2000, Singapore Management University (SMU) aims to groom outstanding business leaders and creative entrepreneurs capable of excelling in a rapidly changing and dynamic world. Today, SMU is home to over 4,700 students and comprises six schools: Lee Kong Chian School of Business, School of Accountancy, School of Economics, School of Social Sciences, School of Information Systems and School of Law. SMU offers bachelor's, master's and PhD degree programmes in business and management-related areas, ranging from Accountancy, Economics, Finance, Wealth Management, Law, Information Systems and Social Science. It also has a dedicated Office of Research, a number of centres of excellence, and provides public and customised programmes through Executive Education. Collaborations with leading institutions, including the Wharton School, Carnegie Mellon, the University of Pennsylvania and the University of Chicago, allow SMU to draw on academic and research strengths across all major disciplines. The SMU campus is a state-of-the art facility located right in the heart of Singapore's civic and business district.
Annex
BUSINESS STUDY MISSION TO THE MIDDLE EAST
ITINERARY
United Arab Emirates
• International Enterprise Singapore (in Dubai)
• Department of Planning and Economy (Abu Dhabi)
• Abu Dhabi Tourism Authority
• Dubai Chamber of Commerce and Industry
• Visits to real estate companies:
- ALDAR Properties
- Al Qudra Holdings
- Emaar Properties
- The Ascott Group
- Nakheel Properties
- Akar Properties
• Site visits to two of the world's largest developments:
- Dubailand
- Dubai Logistics City
• Networking dinners with:
- Singapore's Consul-General Mr Dileep Nair
- Ministry of Federal National Council
- Akar Properties
- Various other Singapore/Arab companies
• Leisure activities:
- Ski Dubai
- Desert Safari Tour
- Meals at the grand Emirates Palace Hotel, the Burj Al Arab
- Dhow cruise in Dubai
Qatar
• Qatar Tourism Authority (Doha)
GUEST LECTURERS
Guest speakers who were invited to conduct classroom lectures for the Business Study Mission include:
• Mr Asim Mirza Alrahmah
Minister Plenipotentiary
UAE Embassy in Singapore
• Dr Anwar Gargash
UAE Minister of State for Federal National Council Affairs
• Mr Nima Alboiz
Development Director of Special Projects
Tourism Development and Investment Company, Abu Dhabi
• Mr Tan Hung Seng
Director
Middle East, North Africa and Central Asia Directorate
Ministry of Foreign Affairs
• Mr Terence Seow
Assistant Director
Middle East & Africa Division
International Enterprise Singapore
• Mr Stephen Ho
Vice President
Surbana International Consultants Pte Ltd
• Mr Paul Chong
Vice President, Business Development
Banyan Tree Holdings
• Ms Marlene Lee
Director
Dubai Representative Office in Far East
Government of Dubai Department of Tourism and Commerce Marketing
• Shafri Mohamad
Executive Chairperson
Astana International
FACT SHEET
Biographies
1) Mr Lee Yi Shyan
Singapore Minister of State for Trade and Industry
Mr Lee Yi Shyan was born in 1962. In 1986, he graduated from the National University
of Singapore in Chemical Engineering. In 1997, he completed an executive management
programme at the Harvard Business School.
Mr Lee began his career at the Economic Development Board, where he held senior
positions in human resources, services development, China operations and industry
development for the chemical sector. He was posted to Washington DC and Chicago
from 1993 to 1997, as well as Suzhou in China from 1997 to 1998. Mr Lee was appointed
Deputy Chief Executive of the Singapore Productivity and Standards Board in 2000.
In 2001, Mr Lee was appointed Chief Executive Officer of International Enterprise
Singapore. In his 4½ years with IE Singapore, he led the successful transformation of the
former Singapore Trade Development Board to IE Singapore. He steered the statutory
board to focus on its new mission to help Singapore-based companies grow and
internationalise successfully.
Mr Lee served on a number of boards including that of International Enterprise Singapore, IE Holdings and Maritime and Port Authority of Singapore. He was also the International Economic Advisor to the Shaanxi Provincial Government and Shanghai WTO Affairs Committee.
Mr Lee was elected as one of five Members of Parliament for the East Coast Group
Representation Constituency in the June 2006 General Election. He was appointed
Minister of State for Trade and Industry on 30 May 2006 and was also designated as
"Minister-in-charge of Entrepreneurship".
Mr Lee is married and has two children. For recreation, Mr Lee enjoys reading and
listening to music. He also jogs and plays golf.
FACT SHEET
2) Mr. Fazlur Rahman Bin Kamsani
Executive Director
Middle East & Islamic Finance
Cross-Border Investments
Chesterton International Property Consultants
Fazlur Rahman Bin Kamsani is an Executive Director with Chesterton International, a leading global real estate services group. Over the last five years, he specialises on the Middle East market by bringing in Arab investors into Asia Pacific and vice-versa. Related to this business includes value-added service in real estate financing and indirect investment vehicles such as Property Fund and REITs; both conventional and Shariah-compliant. He is a member of Middle East Expert Panel under International Enterprise Singapore (IES), the government agency under Ministry of Trade and Industry, to promote more business engagement between Singapore and the Middle East.
Prior to joining Chesterton, Fazlur was with DTZ from 2000 to 2005. Amongst his main task was to advise the Islamic Religious Council of Singapore (MUIS) in rejuvenating its portfolio of 'Waqf' (endowment) assets. Fazlur was also part of the team that advised MUIS in the issuance of the first Islamic Bond in Singapore through the Musharakah and Ijarah structure for investment acquisition of an office building, 11 Beach Road and subsequently, the development of Bencoolen mixed-use project. He was also advising OCBC Bank, one of the three largest local banks in managing the portfolio of non-performing loans in real estate.
Fazlur started his career with Jurong Town Corporation (now known as JTC Corp), a statutory board under the Ministry of Trade and Industry, which spearheads the industrialisation initiatives in Singapore. He started off as a property valuer from 1993 to 1996 and subsequently was given the responsibility to develop, market and manage two Business Parks in Singapore; starting with the International Business Park and later the Changi Business Park. He pioneered the Build and Lease scheme to attract MNCs such as IBM, Honeywell and Ivensys to locate their Regional HQ in Changi Business Park. He was also part of the team, which introduced the first District Cooling System (DCS) in Singapore at Changi Business Park.
Fazlur was educated in Raffles Institution and Raffles Junior College. He graduated in Estate Management with Honours from the National University of Singapore in 1993. Besides juggling between career and family, he is also actively serving in several government committees and the local Muslim community.
FACT SHEET
3) Mr. Bambang Sugeng
Managing Director
Capitaland Amanah Pte Ltd, a member of the CapitaLand Group.
Prior to joining the CapitaLand, Bambang was the Deputy Director, Americas Directorate, at the Singapore Ministry of Foreign Affairs, from March 2005 to July 2006. This was his second stint at the Ministry of Foreign Affairs. He had first joined the Singapore Foreign Service in 1989. After representing Singapore at the 46th session of the United Nations General Assembly in New York in 1991, he joined Hotel Properties Limited (HPL) as the Executive Assistant to the Managing Director, Mr. Ong Beng Seng, in July 1992. In July 1995, he was appointed Director of HPL (UK) Ltd in the United Kingdom, where he was charged with developing and managing the investment portfolio of the HPL Group in the UK and Europe, including the Canary Riverside Project, Sailmakers Court and Virgin Entertainment Group Limited. In July 1998, Bambang returned to Singapore to manage his family's investment holding company, which was involved in Islamic private equity and the sales representation of Gulfstream Aerospace Corporation in the region.
Bambang Sugeng graduated from the National University of Singapore with a 2nd Class Upper Honours Degree in Political Science in 1989.
FACT SHEET
• We would like to make special mention of the following sponsors:
- "Platinum" Sponsors
- D&D Financial Services Pte. Ltd.
o $8000 course fees sponsorship
o $10,000 competition prize money
o Providing possible internship positions in Dubai
- Akar Properties
o Sponsoring dinner at Dubai
o Sponsoring skiing activity in Ski Dubai (housed in Mall of emirates)
o Providing 3 internship positions
- "Gold" Sponsors
- UAE Ministry of Federal National Council and Dubai Chamber of Commerce and Industry
o sponsoring of dinner in Dubai
- UAE Embassy (Singapore)
o provided 40 copies of CDs and books related to the UAE
- Banyan Tree Holdings
o providing corporate gifts for all the companies to be visited during trip
o providing internship positions
• For media interview with Mr. Peter Tan (D&D Financial Services Pte Ltd)
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