March 26, 2012

Tata Capital and EDB sign an MoU to promote investment in Singapore

Singapore: Tata Capital Pte Limited (TCPL) and the Economic Development Board (EDB) of Singapore signed a memorandum of understanding (MoU) to leverage each other’s strengths, reach out to companies in various countries, specifically India, and explore business opportunities in Singapore. Present on the occasion were Lee Eng Keat, director, Singapore Welcome Centre for Corporates, and international director, Asia Pacific, and Praveen Kadle, managing director and CEO, Tata Capital.

TCPL, a wholly-owned subsidiary of Tata Capital and part of the Tata group, the largest business group in India, is fully committed to long-term growth in Singapore, and considers it to be a key destination for its operations. Earlier last year, Tata Capital upgraded its Singapore division to be its international headquarters.

The MoU is in recognition of Tata Capital’s extensive relationships with small, medium and large companies in India. It aims to bolster investments in Singapore by supporting the efforts of Indian companies looking to expand their operations overseas. Under the MoU, TCPL will facilitate collaboration and information exchange between companies and EDB, and offer relevant strategic advice and financial solutions.

Speaking on the occasion, Mr Kadle said, “More and more Indian companies are today looking for growth opportunities in Asia. Tata Capital, with its strong corporate customer base and wide range of financial advisory services, is well positioned to help these companies with their international ambitions. By working with EDB of Singapore, we will be in the best position to help such companies leverage Singapore’s regional and international influence and outreach and in return, contribute to Singapore’s long-term prosperity.”