Page 16 - Demo

TIMESBUSINESSDIRECTORYOFSINGAPORE2025/2026RecognisingthisneedtheSingaporegovernmenthasprioritiseddigitisationintheWholesaleTradesectorTheInfocommMediaDevelopmentAuthority(IMDA)inpartnership withEnterpriseSingapore andindustrypartners developed the Wholesale TradeIndustryDigitalPlan(IDP)under theSMEsGoDigitalprogrammetohelpsmallandmediumenterprises(SMEs)adopttechnologywitheaseAttheWorkforceTransformationforWholesaleTradeSectoreventinAugust2024MinisterofStateforTradeandIndustryandCultureCommunityandYouthAlvinTanhighlightedthedigitalstridesmadebySiaHuatPteLtdafoodservicesupplieswholesalerfoundedin1959InhisspeechattheinauguralWorkforceTransformationforWholesaleTradeSectoreventinAugust2024MinisterofStateforTradeandIndustryandCultureCommunityandYouthMrAlvinTanhighlightedthedigitisationeffortsoflocalcrockerydistributorSiaHuatPteLtdafoodservicesupplieswholesaler foundedin1959ByimplementingdeliverymanagementsoftwareSiaHuatautomated threekeyprocesses–assigningdelivery jobscalculatingroutesandgeneratingreceiptsTheseimprovementseliminatedpaperworkandstreamlinedoperationsboostingefficiencyanddeliverycapacityBeyondprocessautomationdigitaltransformationisalsoreshapingworkforcerolesacrosstheWholesaleTradesectorEmployeesaredevelopingdigitalcompetencies that extendbeyond traditional job scopes taking on tasks such asrouteplanning order tracking andperformance analysis through advancedsoftwaresolutionsAdditionallydigitalcommunicationtoolshavebecomeintegraltologisticscoordinationreal-timedatamanagementandworkflowoptimisationThisshiftnotonlyenhancesoperationalefficiencybutalsofostersamoreagileandtech-savvyworkforce–positioningthesectorforlongtermsustainabilityinadigital-firsteconomyAnothercompanyembracingdigitaltransformationisLimSiangHuatPteLtdafood&beverageserviceswholesalerestablishedin1940Thecompanymodernisedits sales and accountsmanagementmoving away frommanual sales tactics to an automated customerrelationshipmanagement (CRM) systemByleveragingdataandanalyticsemployeescannowforecastsalesmoreaccuratelyandenhancecustomerengagementLikeSiaHuatLimSiangHuatsdigitaljourneyhascreatednewcareerpathwaysforitsemployeesWithtraininginbusinessintelligenceandworkflowautomationstaffmembershavebecomemoreefficientconfidentandtech-savvyallowingthemtoworksmarterinadigital-firstenvironmentThesecompaniesdemonstrateSingaporesadaptabilityinthedigitaleconomyByembracingtransformationandupskillingtheirworkforcetheyshowcasenotonly theorganisationalagilityneeded forchangebutalso theresilienceofSingapores Wholesale Tradesector–adefining traitof theSingaporebrandExpertiseandQualityHigh-ValueManufacturingCarvingOutNichesManufacturingisthenationssecond-largestsectorafterWholesaleTradeaccountingfor173%ofSingaporesGrossDomesticProduct(GDP)in2024DespitelimitedlandandnaturalresourcesSingaporehasbuiltagloballycompetitivemanufacturingindustrydemonstratingresilienceandadaptabilityOneofthemoststrikingachievementsisSingaporesroleasaleadingexporterofrefinedoilIn2023petroleumexportsexceededUS$57billion(S$76billion)rankingSingaporefourthgloballyThissuccessstemsfromanexport-ledeconomicstrategyinitiatedinthe1960sdesignedtoattractforeigninvestmentinlarge-scaleoilrefineriesandpetrochemicalindustriesThestrategywassupportedbyfiscalincentivesastronglogisticsandfinancialsectorandSingaporesstrategiclocationasagatewaytoAsiaThefirstmajorinvestmentcamefromBritish-DutchoilgiantShellwhichbuilta20000-barrelper-day(bpd)refineryTodaySingaporescrudeoilrefiningcapacitystandsat15millionbpdwithpetroleumproductscontributing19%oftotalexportsin2024Beyondoilhigh-techmanufacturingdominatesSingaporesexportsIn2024machineryandequipmentaccountedfor43%oftotalexportssurpassingpetroleumThisreflectsSingaporesstrengthinadvancedmanufacturingparticularlyinelectronicssemiconductorsprecisionengineeringandmedicaldevices14