Members of Karnataka Legislative Assemby, Mr. N. Nagaraju and Mr Krishnappa;

Chairman of Whitefield Shelters Private Limited, Mr. K. Sitaram Reddy;

President of CPG Corp, Mr. Pang Toh Kang;

MD of Singapore Piling and Civil Engineering Private Limited, Mr. Teng Boon Kwee;

Senior Vice President of Larsen & Toubro Limited (L&T), Mr. K. V. Rangaswamy;

Distinguished guests,

Ladies and gentlemen.

Introduction

1 It is with much delight that I participate in this morning’s ceremony to lay the foundation stone for the Whitefield Singa Gardens project.

Bangalore’s Housing Demands and the Whitefield Singa Gardens

2 This is my first visit to Karnataka and I am very impressed with the economic growth, particularly in the IT and biotechnology sectors, and with the many developments sprouting up in Bangalore. Bangalore is indeed one of the fastest growing cities in India and an exciting one to be in. As the city grows, the growing affluence of the Indian professionals will definitely spur demand for good quality housing.

3 I am pleased that Whitefield Shelters Private Limited has entrusted its first residential apartment project, the 1,680-unit Whitefield Singa Gardens, to a Singapore-based Design & Build team for the design and construction phase. This is a vote of confidence the developer has of the Singapore brand, which we have built up over the years and which has come to stand for quality.

A Collaborative Effort

4 The bilateral relationship between India and Singapore has been warm and is growing stronger, with ever-increasingly bilateral trade, frequent visits between our Ministers, and the impending conclusion of the Comprehensive Economic Cooperation Agreement. This strong relationship, I am sure, will provide the foundation for the establishments of more synergistic business partnerships in the private sector.

5 I am therefore very happy to know that the Whitefield Singa Gardens project is a collaborative effort between Indian and Singaporean firms. I am confident that the consortium, made up of Singapore’s CPG Consultants and Singapore Piling & Civil Engineering, as well as India’s Larsen & Tuobro Limited, would be able to work in synergy to deliver the project.

6 Singapore Piling, a wholly owned subsidiary of the public listed BBR Holdings Limited, is a grade A1 company in Singapore, the highest grade that can be accorded in BCA’s Contractors’ Registry. Since its founding in 1970, Singapore Piling has completed more than S$2 billion worth of projects in various types of buildings and infrastructures. Drawing upon the experience and expertise of its 400 staff, the company has begun to venture overseas in the recent years, to Sri Lanka and India.

7 CPG Consultants is no newcomer in the India market. Having ventured into India since 2002, CPG’s accumulated knowledge on local norms and practices has given the company a good foundation towards establishing a presence here.

8 Larsen & Tuobro, India’s largest civil engineering contracting company, is the local partner for Singapore Piling. Its long history of quality construction and vast local networks complement Singapore Piling’s strength in project management. Together, they will be able to deliver the high quality standard that their client expects for the Whitefield Singa Gardens project.

9 On this note, I commend Singapore Piling’s approach for venturing into the Indian market. Singapore Piling has shortened its learning curve by forming a strategic alliance with knowledgeable partners - CPG and Larsen & Tuobro - for this Whitefield Singa Gardens project, its first in India. This is a good approach which I would highly recommend to those Singapore firms who are considering to venture overseas.

Conclusion

10 This project is an excellent example of how both Singapore and Indian companies can work together to share experiences, to tap on each other’s strengths, and to grow together from strength to strength.

11 And to Whitefield Shelters, the developer of Whitefield Singa Gardens, I applaud them for making the efforts to visit Singapore repeatedly. It has worked closely and patiently with the team of experts in Singapore with the aim of producing a quality residential estate here in Bangalore. I am sure that the consortium is up to the task and would deliver a quality housing project for the benefit of the residents of Bangalore.

12 I congratulate the developer and the consortium members of Whitefield Singa Gardens, and I wish them every success for the project and for their future business endeavours.

13 Thank you.

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