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FINANCIAL SERVICES | Tony Chua, Singapore

StanChart reinforces commitment to Singapore with Changi property purchase

Targets increasing headcount in Singapore by 2,000 between 2010 and 2012 to meet expanding business requirements.

Standard Chartered on Friday announced its planned purchase of Standard Chartered @ Changi, subject to approval from JTC Corporation and Ascendas, at the building’s official opening, which was graced by Guest-of-Honour, Minister for Finance, Tharman Shanmugaratnam. This reinforces the Bank's commitment to Singapore, and is in support of the government's initiatives to provide alternatives for affordable business space, according to a Standard Chartered report.

In February 2008, the Bank announced its S$206 million investment in the construction and lease of the six-storey, purpose-built office building at Changi.

Standard Chartered's strong business growth despite challenging market conditions is driving expansion plans in Singapore. Standard Chartered @ Changi currently houses about 2,000 employees out of a total of approximately 6,000 employees in Singapore. The Bank targets to increase its headcount by around 2,000 between 2010 and 2012, resulting in a total projected headcount for Singapore of around 8,000 by 2012.

The current 225,000 square feet Standard Chartered @ Changi houses non front-line employees in human resources, technology and trade operations. The Bank is also considering taking up more space in Changi Business Park.

To contribute to the economic stability of its markets, Standard Chartered recognises that it has a responsibility to reduce the impact of its operations on the environment. Globally, the Bank manages resource consumption across its operations, and raises staff awareness about the importance of environmental stewardship. In 2009, the Bank reduced its m2 energy consumption by 15 percent.

In 2009, Standard Chartered @ Changi was awarded the Platinum Green Mark Certification by Singapore's Building and Construction Authority. The Award is the highest environmental award in Singapore recognising projects that demonstrate a minimum of 30 percent energy and water savings as well as environmentally sustainable building practices and innovative green features.

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