Singapore’s first Prime Minister, Lee Kuan Yew passed away on March 23, 2015. We are deeply saddened by the news and on behalf of the management and staff of Cargill, we extend our heartfelt condolences to Prime Minister Lee Hsien Loong and his family, the Singapore government and to all Singaporeans.
Mr Lee is a legendary figure who is well respected and will be deeply missed. With his vision, dedication and leadership, he has led Singapore through the early years of nationhood, through independence in 1965 and to what it is today, one of the most developed and well regarded countries in the world.
Cargill is privileged to have enjoyed a strong and mutually respectful relationship with Singapore since the early 1970s where we also operate our regional headquarters. Till this day, Cargill continues to benefit from Singapore’s strong infrastructure, governance, judiciary and multi-national and harmonious society. We attribute all this to Mr Lee Kuan Yew, and his strong leadership team, and thank him for all that he has done.
Singapore is the regional hub of Cargill in Asia-Pacific. We established our Singapore office in 1981 and today our team in Singapore comprises about 500 employees. Four of Cargill’s business units are headquartered in Singapore alongside a number of regional and global trading desks.
Cargill’s business activities conducted from Singapore comprise:
- Animal Nutrition: Cargill's Premix & Nutrition businesses has its regional headquarters in Singapore. It offers a range of products and services to feed manufacturers, animal producers and feed retailers. The business was formed after Cargill acquired Provimi, a world leader in premix and animal nutrition services in 2011.
- Energy, Transportation and Metals (ETM): We transparently manage global commodity supply chains for our customers and offer a unique combination of physical and financial expertise to develop physical and financial solutions in the natural gas, power, petroleum, petrochemicals, ferrous and ocean freight markets.
As both a consumer and a supplier, Cargill’s Energy, Transportation and Metals business combines practical experience and in-depth analysis of global commodity markets to generate and apply the insights which benefit its customers. By acting responsibly and thinking innovatively, Cargill helps its customers to focus on core activities and meet their growth objectives.
Headquartered in Geneva, Cargill’s Energy, Transportation and Metals division brings together over 1,000 specialists. We operate regional hubs in the Americas (Calgary, Houston, Minneapolis, New Jersey, Lima, Sao Paulo), Asia (Beijing, Gurgaon, Mumbai, Shanghai, Singapore, Tokyo), Europe (Amsterdam, Geneva, London, Mechelen, Varna), and the Middle East (Dubai).
We also operate 8 steel service centers across the United States (East Chicago, Granite City, Houston, Loudon, Nashville, Panama, Tulsa, and Windsor).
Cargill’s Energy, Transportation and Metals business in India has grown rapidly in the past five years, based on its customer offerings in ocean freight, coal, iron ore and steel. By working closely with our customers and understanding their needs, we have developed a range of physical and financial solutions that help them optimize the efficiency of their supply chains.
Cargill ETM in Singapore: Our activities in Singapore include petrochemicals and transportation fuels. We also offer global ocean transportation solutions across all dry market commodity segments as well as tankers. Singapore is also the global headquarters of our metals activities.
To learn more about our offering in the Energy, Transportation and Metals space, please visit www.cargill-etm.com.
- Food Ingredients: We market a variety of food ingredients and systems to customers across the region. These include starches and sweeteners, cocoa and chocolate, and specialty ingredients like texturizers and health promoting ingredients. Cargill Toshoku’s team of experienced, knowledgeable food professionals provides global food solutions to its Japanese and Sotheast Asian partners. Toshoku's trading office in Singapore sources processed food, food ingredients, food chemicals and packaging materials for its customers in Japan and other parts of the world.
- Grain and Oilseeds: We trade and market wheat, soybeans, corn, soybean meal and other minor feed ingredient, providing cost effective access to Asian markets for Cargill products originated around the world. We also lead the development and execution of distinctive business solutions for grain and oilseeds customers in Asia. Singapore is the headquarters of Cargill’s Grain and Oilseeds Asia business, enabling us to capture emerging opportunities in intra-Asia trade flows.
- Palm Oil: Cargill’s Tropical Oils Asia business is also headquartered in Singapore. We own and operate oil palm plantations and mills in Indonesia’s South Sumatra and West Kalimantan provinces that cover close to 55,000 hectares and employ about 10,000 people. We sustainably produce high quality crude palm oil and palm kernel from fresh fruit bunches grown on our own plantations and sourced from local smallholders. The Singapore headquarters provides functional and operational guidance to our Indonesian palm operations.
- Risk Management: We are a dedicated provider of agricultural and energy risk management solutions. We also develop over-the-counter risk management products tailored to the individual customer’s risk profile.
- Trade & Structured Finance: Headquartered in Singapore, we work with customers and Cargill’s commercial business units to provide financial solutions. Our structuring expertise aids in mitigating documentary, cross-border and credit risks associated with trade finance. In addition to meeting Cargill’s own trade finance and trade related funding needs, we optimize Cargill’s physical trade flows to generate trade finance derived liquidity in emerging markets for customers. We also engage in risk management involving foreign exchange, credit and money markets.
- World Trading Unit: The palm and laurics trading team is based in Singapore and handles the palm origination, logistics and palm market trading. We serve customers such as private and public companies and government agencies around the world.
Our independently managed subsidiaries Black River Asset Management and CarVal Investors also have a presence in Singapore:
- Black River Asset Management is a global asset management company that provides qualified investors with alternative investment strategies across a wide range of developed and emerging markets.
- CarVal Investors is a leading global alternative investment fund manager focused on distressed and credit-intensive assets and market inefficiencies.
We are a good corporate citizen of Singapore, and focus on implementing programs to support education and nutrition.
- Apex Club Bukit Timah: We sponsor, distribute and deliver food rations to low income elderly individuals and families. This partnership, established in 2003, is one of Cargill’s longest partnerships in Singapore.
- Breadline Group: We donate to the Breadline Group and pay monthly visits to families receiving assistance from them.
- Care Corner Educational Therapy Service: We provide monetary support to children with special learning needs for tailored tuition programs.
- Enactus (former Students in Free Enterprise): We support Enactus, an international non-profit organization, which mobilizes local university students to become responsible business leaders. We were a silver level sponsor in 2009 and 2010 and a gold level sponsor in 2011 and 2012.
- Grace Orchard School: We organize workshops and activities for children with mild intellectual disabilities and mild autism spectrum disorders. We also provide monetary assistance to support the on-going activities at the school.
- Junior Achievement Award Singapore: We provide monetary support to the Junior Achievement Awards organization that aims to inspire and prepare young people with vital life skills including work readiness, entrepreneurship and financial literacy.
- Nanyang Technological University (NTU): We donated S$2.5 million to NTU to establish the ‘Cargill China Leadership Endowment Fund’. Valued at S$5 million after the Singapore government matched our contribution, the fund will provide in perpetuity, NTU scholarships and executive training to government officials from China to enhance their knowledge and expertise.
- Pertapis Children’s Home: We provide financial support to the home, enabling abused and neglected children to have access to tutors.
- Rainbow Centre: We support the Rainbow Centre for children with special needs. In 2012, we raised S$35,000 for the centre’s Early Intervention Program for Infants and Young Children, and participated in their 20th anniversary charity walk.
Key awards and achievements
- Singapore Health Award: We received the biannual Singapore Health Award in 2008 and 2010 from the Health Promotion Board to recognize efforts in maintaining workplace health.
- Total Defence Award: This award is given by the Ministry of Defence to recognize efforts in contributing to Singapore’s national defence. We received the Meritorious Defence Partner Award in 2006 and 2007 and the Distinguished Defence Partner Award yearly from 2008 to 2011. In 2012, we were awarded the Minister for Defence Award. This award is the highest accolade conferred on organisations that have shown exemplary support for Total Defence.
- Work-Life Excellence Award: We received the biannual Work-Life Excellence Award in 2008 and 2010 given by the Ministry of Manpower to recognize work-life balance initiatives.