Chairman and MD of Magnolia Builders & Developers Private Limited, Mr. Raghavendra Naik;

CEO of CPG Corp, Mr. Pang Toh Kang;

Members of the construction industry fraternity from India and Singapore;

Distinguished guests,

Ladies and gentlemen.

Introduction

1 I am happy to be here to commemorate the opening of CPG Consultants (India) Private Limited’s new office premises at Mahatma Gandhi Road, and to witness CPG’s contract signing with Magnolia Builders & Developers Private Limited.

Construction Sector in India

2 I am heartened to know that CPG Corp, a Singapore-based company, has established a strong presence in South East Asia, China and now India.

3 India is a strategic destination where demand for industrial, commercial and residential properties will rise as the local economy booms. There is a huge potential for cooperation between Singapore’s infrastructure service providers and our Indian counterparts to serve the needs for real estate and construction services, and a greater role for Singapore companies to contribute to the development needs of India. Singapore has accumulated experience in township, residential and commercial infrastructural development as part of our nation building, and we are more than happy to share our experiences with India, particularly in Bangalore.

CPG Corp’s Presence in India

4 It is very apt that CPG Corp has chosen Bangalore as their first operation centre in India. Being the capital city of Karnataka, Bangalore has established itself as the global IT city, and is developing rapidly into one of the most progressive and exciting cities in India.

5 I am confident that CPG’s experiences in master-planning, architectural and engineering design, and project management would be in great demand as the Indian economy prospers and infrastructural developments grow in tandem. CPG’s capability to provide one-stop services would also be valued here.

6 For Singapore companies venturing overseas, having a local presence is important. I am sure that this has helped CPG Corp to better understand the market, including the business culture and practices, as well as to respond more swiftly to business opportunities. Both its clients and business partners would also be more reassured. I am told that CPG Corp has built up a strong reputation and good brand name in India because of its professionalism and quality of its services. This will provide a strong foundation for the company to grow in India.

Contract Signing

7 It is also with great pleasure that I witness the contract signing between CPG and Magnolia Developers for the development of a 1,000-unit housing project on 18 acre of land at Honsur Road. This represents an auspicious beginning to CPG’s new office premises in India.

8 I commend Mr. Pang and his team for their efforts in establishing a foothold in India. I wish both CPG and Magnolia Builders & Developers every success for this project and for all future ventures.

9 Thank you.

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