Global rubber think-tank to leave London for Singapore
A leading think-tank and data publisher on the global rubber industry is moving its headquarters to Singapore from London next year.
The move by the International Rubber Study Group (IRSG) will add vibrancy to the industry and spur more events, such as industry conventions, say industry watchers.With links to its earlier trading days, Singapore trades nearly half of the world's rubber and is close to three key rubber producers: Malaysia, Thailand and Indonesia. The government's trade-promotion arm, IE Singapore, led the lobbying effort to attract the IRSG by presenting a proposal to the organisation in London last December. The IRSG, which is due to move its international headquarters here by June 2008, is a global intergovernmental think-tank. It publishes data on rubber production, consumption, trade and prices and prepares forecasts of rubber usage and output. It also publishes economic studies. For instance, last year it did studies on the prospects for India and China's rubber industries by 2020. In an e-mail to The Straits Times, IRSG secretary-general Hidde Smit called Singapore a natural choice "in view of the proximity of many important players and institutions". Singapore handles more than half of the world's rubber trade. The Singapore Commodity Exchange said 4.6 million tonnes of rubber valued at US$9 billion (Bt315 billion) were traded here last year. Some major rubber players based here include Bridgestone, Goodyear, Amtel and the Tat Lee Group. IE Singapore corporate group director Kathy Lai said the IRSG would have a large impact on rubber companies here. "The IRSG is a welcome addition to the rubber industry's value chain in Singapore, which comprises buyers, sellers, traders and companies in supporting industries. "The rubber community here can access IRSG studies that are most pertinent to the current needs of the industry." Rubber companies agree. Bridgestone Singapore managing director Tod Knopp said: "This is an opportunity for the rubber industry to leverage on its resources." The Rubber Trade Association of Singapore also backed the move. Chairman Ling Lee Hua said: "The relocation of the IRSG here will ensure that the interests of all sectors, from producers to consumers, will be well represented and looked after." Singapore International Chamber of Commerce Rubber Association chairman Christian Tollkuehn said: "The relocation will spur research through exchange studies with Singapore Management University and the National University of Singapore."
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