Source : The Straits Times, Nov 15, 2007
A GROUP of Chinese investors has collectively spent $300 million to buy commercial properties along Bukit Batok Crescent to house their businesses.
These companies - with interests in health care, education, technology and other businesses - plan to use Singapore as a launch pad for their regional expansion plans.
They bought part of the new 61-storey WCEGA Tower, as well as a neighbouring 500-unit commercial building, to hold their offices.
Another 29 top mainland companies will set up a giant showcase for their signature cooked fare and China-made food products at nearby WCEGA Plaza.
All these Chinese companies are members of four major trade organisations that represent health care, technology and other business interests, as well as enterprises from Guangdong province.
More than 30 executives of these firms attended yesterday's official launch of WCEGA Plaza and WCEGA Tower along Bukit Batok Crescent.
The guests of honour at the event included Mr Xue Yun Gang, a representative of the Chinese embassy; Mr Chen Bo Jian, a representative of China's World Trade Organisation delegation; and, Mr Wang Zhao Lin, chairman of the Guangdong Association of Enterprises.
'Many Chinese companies appreciate the advantages of using Singapore as a platform to expand worldwide and to raise public funds from initial public offerings here,' said Mr Chen.
Local developer Sin Soon Lee Group is currently building the WCEGA Tower and WCEGA Plaza, as well as the neighbouring 500-unit building . Construction is expected to be finished by May 31, 2009.
The World Chinese Entrepreneurs General Association (WCEGA) is expected to be the co-manager of these properties. The entire second floor of the WCEGA Plaza will be devoted to 29 companies chosen from China's 100 most famous restaurants, including the Xiao Fei Yang, or 'Little Fat Sheep', which sells Tianjin province's famous 'Gou Bu Li' meat dumplings.
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