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Singapore Corporations Go Transnational

Published online by Cambridge University Press:  24 August 2009

Lim Mah Hui  and
Teoh Kit Fong
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Extract

The title of this paper is influenced by that of Lee Soo Ann's book, Singapore Goes Transnational. However, the subject matter of this paper though related, is quite different. By Singapore “going transnational”, Lee was referring to how Singapore's economy became dominated by foreign transnational corporations (TNCs). During that process and period, local Singaporean companies declined in importance. This paper deals with the resurgence of Singaporean companies to the extent that some have spread their operations to other countries and have attained the status of TNCs.

Type
Articles
Information
Journal of Southeast Asian Studies , Volume 17 , Issue 2 , September 1986 , pp. 336 - 365
Copyright
Copyright © The National University of Singapore 1986

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References

1 Ann, Lee Soo, Singapore Goes Transnational (Singapore: Eastern Universities Press, 1977)Google Scholar.

2 The definitions of foreign and local (Singapore) firms follow that of the Singapore Statistics Department. Foreign-controlled firms are those where 50 per cent or more of equity is owned by foreigners and local-controlled firms are those where 50 per cent or more of equity is owned by Singaporeans.

3 Yoshihara, Kunio, Foreign Investment and Domestic Response (Singapore: Eastern Universities Press, 1976)Google Scholar; Lee Soo Ann, Singapore Goes Transnational.

4 These statistics are based on the Report of Census of Industrial Production published by the Singapore Statistics Department. The Census covers only manufacturing establishments which employ 10 or more workers. Yoshihara, , Foreign Investment and Domestic Response, p. 180Google Scholar.

5 Of the 435 foreign-controlled firms, half had Singapore equity participation. Yoshihara, , Foreign Investment and Domestic Response, p. 148Google Scholar.

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25 Malaysia, Federal Industrial Development Authority (FIDA), Annual Reports, 1974, 1978, and 1981. FIDA was later renamed MIDA — Malaysian Industrial Development Authority.

26 The value of Singapore's investments in Table 4 refers only to investments made through the Board of Investment of the respective countries. This often applies only to protected industries. However this could be substantially less than the total investments in the receiving country, accounting for the differences in some of the figures cited.

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28 It should be noted that investments reported by the Board of Investment represents only the pioneer industries and forms a small portion of the total industry.

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