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New Machinery and Timber Hub to Help SMEs Cut Operating Cost

One of the novelties of the Singapore government for 2018 is supporting small and medium-sized enterprises (SMEs) in the metal, timber and machinery sectors which will be able to lower their operating costs through a new facility which will be created in the near future. This will be a joint project between several associations and institutions in Singapore.

Our Singapore company formation consultants can assist foreign investors who want to set up companies in the timber and metal industries in the city-state.

The new facilities will help Singapore SMEs to work together

The six-storey building which will host various spaces for both timber and metal-producing companies in Singapore will provide solutions which will cater to the common needs of such businesses and will help them reduce operating costs by at least 20%.

The project will be carried out to term by the Singapore Cranes Association, the Singapore Timber Association and JTC Corporation and will imply the following:

  • – chemical treatment, sawmilling and warehousing services offered by the Singapore Timber Association which will help companies save up to 30% of the operating costs;
  • – yard support, load-testing areas for cranes and assembly services offered by the Singapore Crane Association for metal and machinery producers.

Savings will also be possible by using the workforce which will be trained to offer services to both types of companies operating here.

If you want to set up a company in Singapore and need assistance, our experts in company formation in Singapore can advise and guide you through the registration process.

The real estate industry to benefit from the new project

Not only companies in the timber and metal industries will have multiple benefits from the creation of the new facility, as the institutions will also need assistance from Singapore realtors to complete the work in a manner which helps companies reduce operating costs and optimize the work space.

The lease contracts will be drafted for a minimum period of 3 years and will be renewable, so that the number of companies taking advantage of the development is large.

Foreign investors who want to invest in the city-state are invited to contact our company formation specialists in Singapore for information on the facilities and incentives available.