ID :
15985
Fri, 08/15/2008 - 14:31
Auther :
Shortlink :
https://www.oananews.org//node/15985
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INDIA'S SPICE OPENS GLOBAL OFFICE IN SINGAPORE
SINGAPORE, Aug 15 (Bernama) - After scouring the world, Spice Global, an Indian telecommunication and entertainment conglomerate, has picked Singapore for its global office, the company announced Thursday.
Spice Global Chairman Dr B.K. Modi said the city-state was chosen for itsstrategic location as a launching pad for its global business.
The company had set aside US$200 million for its operations here, he told apress conference.
Modi said the right place to do business now was in Asia as it had the world's fastest growing mobile society and was becoming a lucrative market and Singapore had all the world-class facilities and services plus the highlyskilled and knowledge-based workers it needed.
The Spice Group, with businesses ranging from telecommunications, information technology, finance, entertainment and retail valued at about US$1.5 billion, have offices in London, New York, Beverly Hills, Shenzhen, Dubai andNew Delhi.
Modi said Spice would be relocating the film-making and entertainment businesses in Los Angeles and the financial services operation in Dubai to the Singapore office soon as the potential for the businesses to expand here wasgreater.
He, however, said the initial business venture in Singapore would be in the telecommunications and mobile phone industry as Spice had already been long involved and successful in the sectors in India and was not a stranger to themain players such as Starhub and Singtel in the local industry for any tie-ups.
Spice, short for Synchronised Performance in Innovation in Communication and Entertainment, has its own line of mobile phones branded under the companyname "SPICE" and are mainly sold in India.
Spice Global Chairman Dr B.K. Modi said the city-state was chosen for itsstrategic location as a launching pad for its global business.
The company had set aside US$200 million for its operations here, he told apress conference.
Modi said the right place to do business now was in Asia as it had the world's fastest growing mobile society and was becoming a lucrative market and Singapore had all the world-class facilities and services plus the highlyskilled and knowledge-based workers it needed.
The Spice Group, with businesses ranging from telecommunications, information technology, finance, entertainment and retail valued at about US$1.5 billion, have offices in London, New York, Beverly Hills, Shenzhen, Dubai andNew Delhi.
Modi said Spice would be relocating the film-making and entertainment businesses in Los Angeles and the financial services operation in Dubai to the Singapore office soon as the potential for the businesses to expand here wasgreater.
He, however, said the initial business venture in Singapore would be in the telecommunications and mobile phone industry as Spice had already been long involved and successful in the sectors in India and was not a stranger to themain players such as Starhub and Singtel in the local industry for any tie-ups.
Spice, short for Synchronised Performance in Innovation in Communication and Entertainment, has its own line of mobile phones branded under the companyname "SPICE" and are mainly sold in India.
