StanChart here 'has strong Singaporean core': Lim Swee Say

Standard Chartered Bank office building at Marina Bay Financial Centre.
Standard Chartered Bank office building at Marina Bay Financial Centre. ST PHOTO: JAMIE KOH

SINGAPORE - Standard Chartered Bank on Friday (May 27) opened its second building in Changi Business Park, purchased at S$45 million.

The new five-storey building has a floor space of 202,890 square feet, and will support the bank's plan to consolidate its property portfolio into "more efficient premises", the bank said.

Standard Chartered already owns its first six-storey building at Changi Business Park, and remains an anchor tenant at Marina Bay Financial Centre.

Manpower Minister Lim Swee Say, who attended the opening ceremony, said that Standard Chartered has served Singapore well, as its local arm, Standard Chartered Bank (Singapore), employs a total of 1,400 PMET (professional, managerial, executive and technical) workers, of which more than 90 per cent of the jobs go to local PMETs.

"Foreign PMETs or employment pass holders account for only 7 per cent of the PMET employees," he added.

"It is also worth noting that the regional and international arm actually employs more local PMETs than the local arm, over 3,500 local PMETs in the international arm versus over 1,000 local PMETs in the local arm."

Standard Chartered Bank group chief executive Bill Winters was also in town for the opening.

marilee@sph.com.sg