16/02/2012 (Borneo Post) - Industrial Development Minister Datuk Raymond Tan visited the Singapore Business Federation (SBF) when he was in Singapore recently.

Tan was welcomed by SBF chief executive officer Ho Meng Kit who gave an introduction of the organisation and the mission of SBF.

The CEO told the minister that SBF acts as the bridge between the government and businesses in Singapore to create and enhance a pro-business environment.

Internationally, SBF represents the business community in promoting trade expansion and business networking.

SBF was formed on April 1, 2002 via the SBF Act which was passed by Parliament requiring all Singapore-registered companies with a paid-up capital of S$0.5 million and above to become members of the SBF.

Its formation was to foster a more comprehensive organisation and representation of the Singapore business community’s interests at home and abroad.

Tan promoted the latest industrial development in Sabah.

He mentioned about the palm oil sector in Sabah, especially the development in POIC Lahad Datu and the potential of the palm oil industry.

He also introduced the new born wealth of Sabah, oil and gas, which could create a lot of business opportunities.

“Petronas is investing RM4.65 billion on an urea and ammonia plant in Sipitang and it is the biggest in Malaysia,” he added.