incentive travel singapore

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Incentive Travel

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Let us add a little excitement to your itinerary. From dim-sum cooking classes to walking above the treetops at MacRitchie Reservoir, our team brings plenty of ideas for networking and team-building activities.

Bright, spacious and bathed in natural light, our 255 rooms and suites tie in the organic beauty of the nearby Singapore Botanic Gardens with modern, high-tech conveniences. A mural wall composed of Peranakan tiles nods to our multicultural heritage, while large picture windows invite your guests to take it all in.

Treat your group to sky-high luxury on our 20th floor. Gather in one of our two elegant function rooms next to floor-to-ceiling city views, or plan a party around our rooftop pool, complete with a poolside bar and panoramic vistas.

Your all-star performers deserve a little indulgence. Leave some room on the schedule for a rejuvenating treatment at our award-winning Spa, a tranquil haven set just steps away from the busy city streets.

Full or Half-Day Meeting Package with Lunch

Valid for selected dates between.

• May 31 2024 – Jul 31 2024

Full-Day Package (SGD 140 per person, per day) Book 20 to 50 guests, choose two add-ons Book 51 to 140 guests, choose three add-ons Book 141 guests or more, choose four add-ons:

• 10% off meeting package rate
• 10% off self parking coupons
• Two additional snack items
• Unlimited soft drinks during lunch
• One VIP parking lot
• Two additional handheld microphones (applicable to ballroom events only)
• One Internet LAN line
• Printing of up to 50 tent cards
• Four hours usage in one of our Temasek meeting rooms on event day (up to 10 guests, applicable to events of 50 guests or more, subject to availability)
• Upgrade of function space (applicable to events of 50 guests or more, subject to availability)

Half-Day Package (SGD 120 per person, per day) Book 20 to 50 guests, choose two add-ons Book 51 to 140 guests, choose three add-ons Book 141 guests or more, choose four add-ons:

• One additional snack item
• Printing of up to 30 tent cards
• Two hours usage in one of our Temasek meeting rooms on event day (up to 10 guests, applicable to events of 50 guests or more, subject to availability)

Meet at Four Seasons

Special starting rate:.

• Apr 16 2024 – Jul 31 2024
• Additional welcome break for meetings of 100 people or more
• Group rates starting from SGD 420 per room, per night for 20 to 40 guest rooms

Lunch at Four Seasons

• Use of one Temasek meeting room as a holding room for up to 10 guests (subject to availability)
• Unlimited juice for all guests (for bookings of 100 guests or more)

Dinner at Four Seasons

• One bottle of house wine per 10 paying guests

Celebrating the success of a team is an uplifting display of togetherness that inspires and encourages not just those on the team, but also those around it. I enjoy being a part of creating these memorable events, weaving together various experiences at the Hotel that perfectly celebrate the human grit and spirit. Firdaus Rahim Director of Banquet Operations

EXCLUSIVES AND BUYOUTS

Four Seasons Hotel Singapore can be all yours when you take over the entire property. Your group will enjoy complete privacy, total access to amenities and services, and unlimited opportunities to wow your guests.

Your #FSEVENTS in Singapore

Incentive Travel Singapore: Sustainable tours, travel and stays

Singapore is a world-renowned destination for incentive group travel, offering the perfect blend of cultural richness, authentic experiences, and safe, sustainable travel .

With its diverse cultural influences, bold architecture and fascinating history, Singapore is a must-visit destination for organisations looking to motivate and inspire their team with an unforgettable incentive tour.

Our 3-day sample Singapore incentive trip program will take your team on a journey that combines luxury, sustainable travel and meaningful CSR initiatives, all while enjoying Singapore’s vibrant culture and local experiences.

Morning: Arrive in Singapore and check into the iconic Marina Bay Sands – a luxury hotel in Singapore CBD leading the charge in sustainable stays . After a refreshing welcome drink (or authentic Singapore sling!), you’ll be taken to the historic Chinatown district for an immersive cultural experience. Explore bustling markets, visit the iconic Buddha Tooth Relic Temple, and sample some of Singapore’s famous street food.

Afternoon: Next, enjoy an exclusive guided tour of Gardens by the Bay led by an expert horticulturist. Take in breathtaking views of the supertrees and Marina Bay skyline from the OCBC 128-meter long aerial skyway. Gain fascinating insights into the Gardens’ history, architecture, flora and fauna and sustainable practices.

Evening: As the sun sets, raise a toast together to your first evening in Singapore with a cocktail event at the Ce La Vi rooftop bar. Located atop the Marina Bay Sands Hotel, the bar offers breathtaking views of the city skyline and serves delicious cocktails and canapes – the perfect spot for your team to network and bond while enjoying the best views of Singapore.

Morning: Kick start day 2 with a unique Singaporean CSR initiative that will connect your team and make a positive environmental impact. Visit the Pasir Ris Mangrove Boardwalk, where you’ll work together as a team to help clean up the mangrove forest and preserve the local ecosystem. This purposeful initiative not only gives back to the community but fosters teamwork and meaningful connection.

Afternoon: Next, take to Singapore’s beautiful coastline for the afternoon and enjoy the exclusivity of a private yacht cruise. Explore the nearby islands of Singapore, such as Lazarus, St. John’s and Kusu Island, offering beautiful beaches, clear waters, and plenty of opportunities for water activities. Enjoy locally sourced freshly grilled seafood, meat, and vegetables on-board and bond over fun team building activities hosted at sea.

Evening: Mark the end of an enriching day with a special gala dinner at the majestic Fort Canning Park. The park’s lush greenery and historic buildings provide the perfect backdrop for an unforgettable group dinner. Tuck into a delicious 3-course banquet featuring Singapore’s iconic dishes such as Satay, Nasi Lemak and Ice Kachang, accompanied by live entertainment to get the party started.

Morning: For the final day of your Singapore incentive trip program, start with a visit to the iconic Merlion Park where you can’t miss the opportunity to take a team photo with the iconic Merlion statue – one of Singapore’s most recognizable landmarks. Afterward, head to the Singapore Flyer, the world’s largest observation wheel, which offers stunning panoramic views of the city. As you soar above Singapore, you’ll get a bird’s-eye view of landmarks such as Marina Bay Sands, Gardens by the Bay, and the Singapore River.

Late Afternoon: Take your team on an unforgettable adventure at the Singapore Night Safari, the world’s first nocturnal wildlife park. Your team will get up close and personal with over 2,500 animals, including tigers, elephants, and leopards, in their natural habitat. Learn about the importance of animal conservation, and enjoy a unique dinner experience with “Evening in the Wild”..

Evening: Celebrate your final evening in Singapore with a signature cocktail event at Marina Bay Sands Skypark. Enjoy panoramic views of the city while enjoying delicious cocktails and canapes. Offering the perfect opportunity for your team to reflect on the trip’s experiences and bond over Singapore’s stunning skyline.

Our 3-day Singapore incentive trip program offers a unique blend of luxury, relaxation, and meaningful CSR initiatives that will leave your team feeling inspired and motivated.

Plan an incentive travel event your team will never forget

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“Thank you so much for delivering what everyone is saying is “the best gala awards night we’ve ever had”

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Safe2Travel Pte Ltd (S2T)  is one of Singapore’s most established homegrown travel and event management companies. Established in 1919, S2T has earned a reputation for its dedication, consistency and exceptional service in providing corporate, leisure and MICE travel management services. 

BUSINESS TRAVEL S2T Business Travel prides itself in being a cost effective one-stop travel management solution to its clients.

LEISURE TRAVEL S2T Leisure Travel offers a wide range of tailor-made products and services, ranging from group tours to free and easy packages.

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Six ways Singapore is reimagining the future of travel

Singapore has surged ahead on a journey to reimagine travel in a Covid-19 world. As part of SingapoReimagine, an initiative from the Singapore Tourism Board (STB), the destination is rethinking and redesigning tourism to provide safe and enriching experiences for all.

With meetings and incentive groups in mind, here are six ways the city-state island is transforming and restoring confidence for incentive travel.

#1 Making flying safer, cleaner and more comfortable

Singapore Airlines has introduced contactless initiatives using its app, too. Travellers can use the app on their own personal mobile device to control inflight entertainment, view their boarding pass and meal menus, and pre-order items in the airline’s shop.

#2 Face-to-face meetings – with a difference

Marina Bay Sands, one of the country’s leading meeting and convention space, has made meetings possible by building a hybrid event studio, which offers broadcast-quality live-streaming with holograms and mixed reality functions, and an immersive 3D backdrop for a variety of events. 

For the in-person element, Safe Management Measures are in place to protect the safety and wellbeing of attendees. Measures include ensuring a safe and clean environment, infection control at every stage of an attendee’s journey, social distancing and crowd density limits. 

Recent hybrid events include the PCMA’s Convening Leaders 2021 conference, Singapore International Energy Week, and Travel Revive, the first major physical international travel trade show to take place in Singapore since the Covid outbreak.

#3 Itineraries to protect and delight 

To reimagine incentive trips, Singapore devised Safe Itineraries, a prototype for small groups. This pilot welcomed international visitors who, divided into groups of four or five people, enjoyed customised itineraries tailored to their risk profiles. Itineraries have been designed to meet the evolving needs of planners and their visitors, while also ensuring that every aspect of the experience is safe, fun and meaningful. 

Private transport is provided for group sightseeing excursions to Kampong Gelam, Little India and Chinatown, and Trishaw Rides and Vespa tours are a unique way to get around town. Of course, virtual tours and experiences are available, too. For instance, planners can book a personalised interaction with animals and keepers at Singapore Wildlife Reserves. 

#4 Exclusive and safe dining experiences

For after-dinner drinks and entertaining, groups can head to The Ratio Cafe and Cocktail Lounge for a contact-free experience where robotic baristas and mixologists can serve up to 50 customisable cocktails and coffees for guests. For organisers looking for an entertaining, cultural and foodie experience virtually, inspiring Singaporean chefs can be booked to host live masterclasses.

#5 Reassurance on Covid safety and hygiene

Safe Management Measures have been rolled out to all tours, venues, hotels, attractions, and retail and food and beverage establishments to ensure they comply with the latest Covid regulations and to offer assurance to organisers and their guests. Singapore has also initiated SG Clean certification, a national quality mark awarded to businesses that adopt and maintain cleaning, sanitisation and hygiene standards, and commit to helping keep the destination clean and safe beyond the pandemic. 

#6 Experiences rooted in the outdoors and nature 

After prolonged lockdowns for many nations, there will be a growing trend for activities in nature and the great outdoors. Singapore has been developing a number of nature-based concepts, such as Jewel Changi Airport and Gardens By the Bay, as part of its ambitions to be the world’s most sustainable urban destination and also a ‘City In Nature’, where nature is further restored into the urban landscape. Upcoming projects include the reimagining of the Mandai Precinct as an eco-themed nature cluster with the introduction of wildlife attractions and eco-friendly accommodation.

Spectacular Singapore: experience the exceptional for your next event

In this destination guide to the unique city-state, we take you through the latest experiences, innovations and stunning event venues that Singapore has to offer.

Inspiring incentive travel ideas in Singapore

Singapore is renowned as a leading business events destination with world-class facilities and infrastructure. It also boasts a captivating incentives programme – ‘In Singapore Incentives & Rewards’, or INSPIRE for short – offering more than 60 culturally immersive activities. 

The post-pandemic playbook: safety, hybridisation and innovation

How technology is reawakening travel post-pandemic

Technology is playing a crucial role in reviving the MICE sector. Innovative uses of technology are helping to create Covid-safe experiences and travel but also opening a new horizon of possibilities and opportunities for event planners. 

Inside Singapore’s pilot trade show: Travel Revive

Marina Bay Sands’ new hybrid broadcast studio hosted Travel Revive in November, the first international travel trade show to take place physically in Asia Pacific during the Covid-19 pandemic. 

As part of Singapore’s roadmap for re-opening to the MICE market, the pilot exhibition tested the destination’s new hybrid prototype for safe business events. 

Five things not to miss at Singapore’s MICE Virtual Show

The pioneering MICE destination of Singapore will host SingapoReimagine MICE Virtual Show, an immersive and engaging virtual exhibition for event organisers to discover what the vibrant country has to offer. 

How a large-scale international hybrid event won

For the first time in 64 years PCMA’s Convening Leaders 2021 conference was held outside of North America at Marina Bay Sands, famed for its iconic rooftop infinity pool. 

Business Events with Peace of Mind

A slew of safety measures have been implemented to ensure that you enjoy business events in Singapore without compromising on the overall experience. 

Such measures include a contact tracing app, safe distancing queues, and controlled group sizes. 

For more information, please visit https://go.gov.sg/sgsafetravel1

Roadmap to recovery: the post-pandemic best practice guide for events

Uncertain times, in any sector, call for strong leadership and guidance. Singapore's Event Industry Resilience Roadmap shows the destination’s strategy for re-opening to the MICE market, but does it in such strong detail that the advice and standards set are relevant and applicable to anyone, anywhere. 

The world's best business city has reopened, here's what it looks like

Singapore is ready to welcome the world as the country reopens its borders to MICE events. Many new safety measures are already in place, so you and your delegates from all over the world can meet face to face in Singapore with absolute peace of mind.

Whether it’s safe distancing robots, hybrid event studios or bespoke itineraries, Singapore is constantly reimagining new ways to bring forth the future of business events. So you can stay safe in Singapore while enjoying an elevated MICE experience.

Take a glimpse of how Singapore reimagines the future of business events in this short video, and for more information, please visit https://go.gov.sg/cnit

Reimagine your business events in Singapore

This video is brought to you in partnership with Visit Singapore.

In Singapore, innovation is in everything we do, especially when it comes to planning your next business event. While we don’t actually offer robot site visits (yet), we’re happy to connect with you and bring your future events to life. 

For more information, please check out   https://go.gov.sg/mice-cit .

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Green shoots in Singapore outbound incentive travel

Improving travel freedom in popular tourist destinations, as well as relaxed restrictions for returning fully vaccinated Singapore residents, have nurtured green shoots in outbound incentive travel business.

Kuoni Tumlare saw an “immediate response” from major incentive organisers based in Singapore as soon as the Vaccinated Travel Lane (VTL) with Germany was announced in mid-August.

Reto Kaufmann, the company’s vice president – sales & operations South East & South Asia, told TTGmice : “Three out of 10 largest insurance companies in Singapore have also immediately started to look at projects into Germany, scheduled for travel around 4Q2021 or 1Q2022.”

“In short, there is a pent up demand for incentive travel,” Kaufmann remarked.

Also sharing optimistic news is Melvyn Nonis, director of Singapore-based incentive specialist M.I.C.E Matters. He told TTGmice that “some light at the end of the tunnel” was finally coming through, with corporate clients starting now to plan for incentive programmes happening as early as April 2022.

He revealed that Singapore-based corporates are keen on a variety of destinations, from Russia to Iceland on the other side of the globe, New Zealand and Australia, as well as Taiwan, South Korea and Japan which are closer to home.

Kaufmann noted that while Germany was seldom regarded as a premium incentive destination among Singapore companies pre-pandemic, the VTL has encouraged clients to take the option seriously now. “That is good because Germany has many nice incentive regions, such as Bavaria and The Black Forest,” he said.

New enquiries for Switzerland have emerged too, although most are for travel around 2023, shared Dominique Oi, MICE manager Southeast Asia with the Switzerland Convention & Incentive Bureau.

“At the moment, most Singapore companies are holding back and waiting for quarantine requirements to be lifted,” Oi explained.

While Switzerland offers a quarantine-free welcome to fully vaccinated Singapore travellers who test negative for Covid-19, a compulsory 14-day isolation awaits upon their return home. This regulation, however, was relaxed in August to allow travellers from certain countries, including Switzerland, to serve their quarantine at home , instead of a government facility.

Altered programmes Against a Covid-19 backdrop, post-lockdown incentive programmes are expected to look different.

Groups will have to travel in small batches and with staggered departures for better health and safety control. As a result, gala and farewell dinners will be “more intimate and lavish”, opined Nonis.

“Itinerary will be more organised, with fewer free days. Experiential programmes, including team bonding, (will be featured more prominently),” he said, adding that trips would likely be extended by a day to satiate pent-up travel desires and clients would consider booking out an entire hotel for private use.

Oi expects post-lockdown incentive trips to be packed out with more programmes – a mix of incentive and teambuilding elements – to maximise travellers’ time in the destination.

On the other hand, Kaufmann disagrees that programmes would be more packed out post-lockdown – only because Asian groups are already masters of time and are used to “being out from eight in the morning to 10 in the evening”.

In fact, Kaufmann encourages organisers to have fewer inclusions due to logistical situations and expected delays, and to provide more time buffers in between activities.

Meanwhile, the need for reduced trip disruptions due to sudden border closures will make mono destination programmes more popular than the traditional multi-country itineraries.

“Irrespective of the VTL, mono destinations will be the norm. I don’t see incentive groups moving cross-country until we have clear control over Covid-19,” Kaufmann explained, adding that this will benefit both the traveller and the destination, as programmes can now “deep dive into the beauty of the particular country” and showcase experiences in second- and third-tier cities.

Another travel preference identified by both Nonis and Kaufmann is the stronger desire for non-stop, direct flights. Nonis noted that the availability of such flights could elevate client’s travel confidence. However, his clients would stop short of chartering private jets due to cost concerns.

With safety concerns still top of mind and evolving border restrictions a reality, reliance on professional travel planners is ever stronger. To strengthen communications with incentive travel participants and sharpen group management, M.I.C.E Matters will be implementing digital solutions.

A costlier undertaking Incentive programmes post-lockdown will require a bigger budget to cover Covid-19 tests for travellers, more manpower to manage multiple batches of incentive qualifiers, higher ground expenses as well as increased management fees.

Nonis said clients should be prepared to pay 20 to 30 per cent more compared to pre-pandemic days. He intends to raise management fees to reflect additional work and preparations that come with overseas trips now. Although gaining clients’ acceptance would be “tricky”, Nonis said the fee increase was necessary.

Kaufmann agrees that pricier travel is the new reality. “Unfortunately, people have not really gotten a picture of the new travel cost structure, which is why many are having this wait-and-see attitude. They need time to rebuild their travel confidence,” he said.

However, companies looking to resume their incentive programmes on limited budget could benefit from an oversupply in tourism products, suggested Kaufmann.

“If you buy into hotel inventories at the right time, for instance, you could possibly make enough savings to mitigate the additional cost of travel. Kuoni Tumlare has the buying power to minimise the cost impact on clients. We understand that a lot of budget has already been set for incentive programmes, so we work with our teams and partners to bring down the cost as much as possible,” he added.

Green shoots in other Asian markets too Demand for longhaul incentive trips is also resurfacing elsewhere in South-east Asia, encouraged by the reopening of international travel borders in aspirational destinations.

The Switzerland Convention & Incentive Bureau is taking fresh enquiries from a number of markets here, such as Indonesia, Thailand and Malaysia, with most intending to travel after 2Q2022 or in 2023.

“I must say the appetite for incentive trips among South-east Asian corporates is still relatively good,” Oi remarked, adding that a 237-pax incentive group from Indonesia has just sent in their application for the Schengen visa to travel this December.

Revealing more details on this incentive group, Oi said the itinerary would span five nights and feature mountainous resorts and excursions around regions such as Valais, Lake Lucerne, Bernese Alps Oberland and Lake Geneva.

Departures will be staggered across three-day intervals, with 50 to 75 participants per batch.

To rebuild interest in Switzerland for corporate incentives, the bureau is kicking off early September its second virtual/hybrid networking event, Switzerland Travel Experience. This will bring more than 30 Swiss partners together with Asian buyers through face-to-face meetings.

Kuoni Tumlare is also witnessing good progress, particularly in Indonesia and Thailand, where requests for proposal are returning. Kaufmann revealed that his company is fielding “several nice requests” out of Indonesia for travel in the later part of this year, while interesting incentive concepts are emerging among his Thai clients.

“For example, we have a request to the US where the Thai organiser wants to get his staff vaccinated there. So, the programme combines an incentive award and a vaccination exercise,” he said.

Barring “any shocking developments”, Kaufmann expects incentive demand to continue to rise in South-east Asia, leading possibly to a “decent recovery in the fourth quarter”.

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Singapore: The Next Stop for Incentive Travel

Incentives are part of a $100+ billion industry, nearly half of which are made up of non-cash incentive programs. However, the days of only offering company golf outings are long gone. Employees, channel partners, and customers enjoy being rewarded for their hard work with fun, unique adventures. As a result, bigger and better experiential incentive programs are popping up left and right, as participants express a greater want for hands on experiences in the indigenous cultures of the destinations they visit.

Singapore is the latest to see the enormous value in cultural experience-based incentive programs. The Singapore Tourism Board , Singapore Airlines and the management of Changi Airport Singapore just announced a new program called “The In Singapore Incentives & Rewards” program, also known simply as INSPIRE.

Exceptional Experiences

As a whole, INSPIRE is able to offer attractive group travel packages that include everything from airfare to hotel to unique adventures. There are currently 12 exceptional experiences that have been curated from a “Makan Makan” (Let’s Eat) food tour to a “The Way We Live” public housing tour. Each option offers a peek into the Singaporean way of life that your guests may not get a chance to see otherwise.

New Destinations That Create Desire

As the industry begins to explode, budgets for incentive travel are increasing and companies are taking notice of the huge benefits of experiential programs, including increased ROI and brand loyalty. Singapore is certainly on our list for future programs.

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Make Your Next Travel Incentive Singapore

An Incentive Travel destination that will take your breath away!

Reward Choice, Travel, B2B Incentives, Incentive ROI, Reward ROI, travel incentives,

Continuing our incentive travel series – we take our showcase a little further and look international!

The interest of an international travel incentive for your B2B incentive program is now at an all-time high, but with budget constraints and unpredictable flight costs – finding a destination that offers bang for your buck is key, and what better place than Singapore? 

No longer just a stopover destination, Singapore boasts food, drink and culture that can stand with the best – make the destination of your next travel incentive Singapore!

Singapore – A Cultural Kaleidoscope

Singapore has quickly become a favourite of Asia’s ‘must see’ destinations due to its melting pot of cultures. Dining ranges from foodie-favourite Hawker street fare to Michelin-starred restaurants, with a wide range of activities on offer and a happening nightlife, both tourists and locals alike are eager to get out and experience it (and add it to their Instagram grid!).

Those of us with a penchant for green living who might be feeling anxious about being stuck in a bustling cityscape – have no fear! Singapore has recently unveiled its plan of a ‘City in a Garden’, meaning even the beautiful skyline of green skyscrapers feels more like thriving ecosystems than your local CBD. With so much to offer, Singapore is sure to capture the hearts and minds of any travel incentive group, leaving a lasting memory that won’t fade anytime soon.

Travel Incentive Singapore: Itinerary Example

• Suggested Duration: 3 nights, 4 days
• Group Size: 20 rooms (double share)
• Best Travel Month: Feb – Apr (a year-round destination)
• Weather: Highs of 31ﹾC, Lows of 25ﹾC

Some destinations to leave your group wanting more:

• Take a tuk tuk ride through Singapore’s renowned Hawker Markets , then finish with a Singapore Sling masterclass: There’s nothing wrong with indulging in the classics, and these are all classic parts of Singaporean culture. Dishes like char kway teow, laksa, nasi lamak or chilli crab will have your guests salivating. And what better way to rehydrate after a succulent hot meal than a delicious Singapore sling? Your guests will learn how to make one with guidance from some of Singapore’s expert bartenders at the Raffles Hotel – the birthplace of the drink.
• Test your skills by making your own gin from scratch at the Brass Lion Distillery: a true trendsetter in Singapore, Brass Lion’s creator Jamie Koh worked with gin distilleries around the world for years to get the know-how on how to distill her own – becoming the first distillery in Singapore in 2012. The care and consideration put into opening the business has allowed Brass Lion to withstand the test of time and is well on its way to worldwide expansion.
• Spark your creative side by designing your own custom pair of sneakers: Singapore was ahead of the curve when they thought of the Sneakers Art Jamming studio , a workshop where guests can create and customise their very own pair of sneakers in an experience that will stay with them – literally! The studio can supply its own self-manufactured shoes, meaning your guests don’t have to plan ahead.
• Escape the bright lights of the city to enjoy a 4-course dinner in a Tipi Tent at the world-famous Singapore Zoo: Get away from the city and back to nature with an evening in the wild at Singapore Zoo, which offers a Night Safari package , allowing your guests to get up-close and personal with many of the unique animals from the country. Set out beautifully with soft lighting and the backdrop of an authentic tipi tent, your incentive travel partners will be in awe of the food, wine, and animal friends – and will tell everyone they can once they get back home!
• Cruise on a bumboat along the Singapore River and let the mix of modern and past drift on by: Let your guests experience history before their eyes with a traditional bumboat (locally known as a tongkang, or sea-going barge) cruise down the Singapore River. Setting out in late afternoon or after dusk is recommended, so that they can catch the sunset over the river, or see the bright lights illuminate the beautiful urban nightscape.

Hotel of Choice – Swissotel The Stamford

Strategically located in the heart of Singapore’s shopping & entertainment districts, step into a world of comfort and experience the finest in Swiss hospitality at Swissotel The Stamford .

One of Southeast Asia’s tallest hotels, you’ll have panoramic views of Singapore and a voyage of epicurean and entertainment pleasures at your doorstep. This will provide a memorable experience to all your guests, allowing them opportunities to explore whatever they may want due to the train station and other transportation nodes at your doorstep, or providing easy access to a central hub for your curated day trips. The importance of organising specific experiences during your incentive program travel is to gain more chances to personalise the trip and create memorable experiences, cementing your future business relationships.

Contact us to elevate your Incentive Travel.

If this has got you wondering what you could do to energise your customer base, get in touch. We can help you plan a one-of-a-kind travel experience that will boost engagement with your business and empower your team and customers to connect with your brand above all others. Contact us today, and let’s work together to create a corporate travel adventure that will push your brand to the next level.

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The complete guide for incentive trips for employees

Top 7 incentive travel companies, what is an incentive travel company, benefits of using a travel incentive company, utilizing established supplier networks, expert destination knowledge, managing on-site logistics, cost optimization, risk management and mitigation, measuring and evaluating the trip’s success, 1. travelperk.

• Over 25,000 negotiated rates on hotels when booking with TravelPerk
• A concierge team to suggest once-in-a-lifetime activities and book pre-paid restaurants for your stay.
• Access to a 24-hour customer service line for all attendees, where a team of real people is on hand to answer any questions.
• VAT recovery reports can help you save up to 20% on incentive trip costs.
• Improved compliance with travel policies baked into the platform.
• The ability to pay, report, and invoice all company travel with just one account.

See how to save your company time and money on business travel

2. ita group.

• Expertise in destination management.
• Immersive brand experiences.
• Concierge air travel.
• Risk management and traveler safety services.
• Pre- and post-analytics for insights into the trip’s success.

3. Maritz Global Events

• Travel program design and campaign communications.
• Sourcing and contracting hotels and venues.
• Simplified registration and ticketing.
• On-site support and coordination.

4. Creative Group

• Customized group incentive travel programs tailored to a business’s specific goals, preferences, and budgets.
• Relationships with hotels, independent properties, destination management companies, airlines, and transportation companies.
• Mobile apps, interactive platforms, and digital tools provide attendees with real-time information, engagement opportunities, and personalized communication.

5. BI Worldwide

• An event management app that engages attendees before, during, and after trips.
• Destination selection and management.
• Planning unique excursions, team-building exercises, and exclusive events.
• On-site event management services.
• Data analytics and reporting tools to measure the performance and impact of group incentive travel programs.

6. Cadence Travel

• Customized incentive travel programs according to requirements and preferences.
• A dedicated trip planner that acts as a single point of contact for all trip-related operations.
• Hotel sourcing, negotiating, and contracting specialists.
• On-site staffing for logistical support.
• Attendee travel monitoring to ensure duty of care.

7. Brightspot

• Customized sales incentive programs to help drive performance improvement and sales engagement.
• Incentive trip planning.
• Integrated engagement campaigns.
• Incentive software platform to help companies manage their incentive travel programs.

Wrapping up

Make business travel simpler. Forever.

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DMC Singapore

Introduction.

DMC SINGAPORE, Singapore's leading DMC conference planner (organizer) and events specialist for incentive travel and conventions. A preferred destination management company and supplier used by international conference organisers worldwide.

Our experience helped us with developing strong relationships with key trade partners and authorities for the benefit of our clients. We provide added value through our ability to negotiate competitive rates and the best contract terms available, as well as exclusive access to otherwise inaccessible venues for spectacular events. We combine these benefits with a creative touch, for an exclusively unforgettable experience and the ultimate wow factor. We are structured to provide maximum flexibility for serving different needs with marketing offices in the USA, the UK, Australia/New Zealand and France to handle all types of client inquiries.

- Registration - Air ticket booking - Hotel sourcing - Venue sourcing - Airport arrival & departure transportation - Sightseeing tours - Team building - Special interest activities - Daily activity transportation - Meeting & Event management - On site staffing - Stage design and set up - AV production - Event decoration - Entertainment

Destinations we can help you with:

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Note: Incentive Travel has no affiliations to the insurers listed below and are unable to assist with any queries relating to product information or the application process. Should you require further assistance during the course of application,  please enquire directly with the  insurers . For more information on our third-party sites' policy, please click here .

All short-term visitors applying to enter Singapore via the  Vaccinated Travel Lane (Air)  will need to have travel insurance for their COVID-19-related medical treatment and hospitalization costs in Singapore, with a minimum coverage of S$30,000 (based on COVID-19 bill sizes at private hospitals). This is a requirement regardless of the traveller’s vaccination or recovery status, as there is still a risk that these travelers can get a COVID-19 infection and require medical attention.

The travel insurance will help with the costs of their medical treatment in Singapore. Please ensure sufficient coverage as travelers will have to pay for their own treatment costs beyond their insurance coverage. Visitors should purchase such travel insurance prior to traveling to Singapore, either from Singapore-based or overseas insurers.

We are suggesting the 3rd option listed with HL Assurance Pte. Ltd. as this is the base coverage that Sigler is going to add to your room folio credit. The coverage they offer meets the requirements and at a good rate. If you decide to purchase trip insurance from another company at a higher price, Sigler will only apply the base amount of $25.00 to your folio at Marina Bay Sands.

(Prices displayed at HL Assurance will be in SGD$)

Please use this link for more information on travel insurance requirements.

Trip Insurance

AIG Asia Pacific Insurance Pte. Ltd.

Website: Singapore Travel Assist

Chubb Insurance Singapore Limited

Website: SG Travel Insured

HL Assurance Pte. Ltd.

Website: ChangiAssure Covid Insurance

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About the Organisation

What industry does your organization fall within, what best describes the key intent of the project that your organisation is seeking funding for, is your organisation a singapore-registered legal entity, is your organisation an association, is the project able to achieve one or more of the following outcome.

• Increase no. of sailings to/from Singapore
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• Improve visitor satisfaction (especially foreign visitors)
• Increase footfall
• Increase revenue
• Significant branding and PR value

Is the project able to attract foreign visitors and contribute to foreign visitors' spend?

Who will be the main target audience of your project, is your project innovative and/or a new event in singapore with tourism potential, what best describes your project, does the event have proven track records in singapore or overseas, and/or growth in tourism value such as growing foreign visitorship, and/or enhancement of precinct vibrancy etc, does the project have a clear tourism focus (e.g. tourism-related trainings, tourism companies taking on capability development initiatives or technology companies creating technology products and services for the tourism businesses), what best describes your market feasibility study project.

Based on your selection, the following STB grant/s may be applicable for your project:

Please note that projects that have commenced prior to Singapore Tourism Board's offer may not be eligible for grant support. Examples where projects are deemed as having commenced include:

• Applicant has started work on the project e.g. tender has been called.
• Applicant has made payment(s) to any supplier, vendor or third party.
• Applicant has signed a contractual agreement with any supplier, vendor or third party.

Incentive Travel Is Growing in India as a Performance Booster

Peden Doma Bhutia , Skift

April 12th, 2024 at 11:00 PM EDT

If employees were given a choice between receiving a gift voucher or a "Well done!" from their bosses during an incentive trip, which do you think they'd pick?

Peden Doma Bhutia

Incentive trips are making a comeback, according to FCM Meetings & Events India. The corporate travel firm noted a 30% jump in requests for them in the first quarter from a year earlier.

They’re also known as employee reward programs, and they’re big in India: Top-performing staffers get to go to a new destination, and the companies get a way to foster teams and motivate younger and mid-career employees. It’s business, but still a perk.

Manpreet Bindra, FCM Meetings & Events Leader, Asia, said both employers and employees prefer incentive trips to vouchers or cash-in-kind.

“The Indian business travel market has surpassed pre-pandemic levels and we do expect this segment to continue growing,” Bindra told Skift.

Business Travel Spending in India

The Global Business Travel Association projects that India will experience an 18% growth in business travel spending in 2024 , reaching $38 billion. It also anticipates a full recovery to pre-2019 spending levels by 2025.

India is the ninth-largest market globally for business travel expenditure and the fourth-largest in the Asia Pacific region, representing 5.7% of business travel spending.

The global incentive travel market is expected to reach $217 billion by 2031, according to a report by Allied Market Research.

The rate of growth during this period is expected to be highest in the Asia Pacific.

South African Tourism during its recent roadshow in India spoke about how Indian corporates are one of the largest contributors to incentive travel in the country.

South African Tourism has kickstarted the third edition of its incentive travel initiative – Corporate Think Tank in India.

Nearly half of arrivals to India from South Africa were for meetings, incentives, conferences and exhibitions. Around a quarter of those MICE arrivals were for incentive trips.

When to Book and Where to Go?

FCM has managed incentive trips for Indian startups to large-scale enterprises in not just popular destinations like Thailand and Indonesia, but also emerging destinations like Vietnam.

“Companies are looking at destinations with both hotel and air seat capacity as well as the ease of visa procedures for incentive travel,” Bindra said. “The most popular destinations in Asia are Bangkok and Pattaya, Singapore, Ho Chi Minh, Kuala Lumpur, and Colombo although Hong Kong and Macau are starting to gain traction again due to the increased air seat capacity as well as tourism marketing initiatives.”

One of the biggest impediments to recovery of business travel has been a lack of airline capacity and competition, FCM Consulting had noted in its November trend report.

Bindra also highlighted the advantage of a larger booking window. “If companies can confirm their group movements before 6 months of travel, they stand to save more than 20% in airfare,” he said.

FCM also advises its clients to book group movements 9 months prior as then fares for full-cost carriers would be about the same as low-cost carriers, Bindra noted.

The global average ticket price of flights booked for business travel have been witnessing a significant increase post Covid.

FCM noted in February that the Mumbai to London economy fare saw a 25% hike , while business class fares on the route went up by 13%.

Have a confidential tip for Skift? Get in touch

Tags: asia monthly , business travel , business travel habits , corporate travel , economic development , fcm , incentive travel , india outbound , mice , south africa

Photo credit: Incentive trips in the first quarter of 2024 went up for Indian companies. Getty Images

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Follow our news, recent searches, new registry for singapore businesses to track and report carbon emissions launched, advertisement.

The Emission Factors Registry is meant to help businesses meet their climate reporting needs.

A cluster of factories at an industrial park in Singapore. (Photo: Reuters)

This audio is AI-generated.

Koh Wan Ting

SINGAPORE: The Singapore Business Federation (SBF) launched a registry on Monday (Apr 15) to help local businesses track and report their carbon emissions more easily and accurately. 

The Emission Factors Registry is meant to help businesses meet their climate reporting needs, said Minister for Sustainability and the Environment Grace Fu, who announced the registry's launch at the opening of Ecosperity Week 2024. 

The annual sustainability conference by Temasek, which runs until Wednesday, brings together private and public sector leaders, academics and other parties to further the agenda on sustainable development.

The Emission Factors Registry is a joint effort between the SBF, Agency for Science, Technology and Research (A*STAR), PricewaterhouseCoopers (PwC) and Singtel, and supported by the Ministry of Trade and Industry and the Ministry of Sustainability and the Environment.

"The idea of the registry emerged from a Forward SG conversation in 2022, where companies highlighted the difficulties presented in reporting scope 3 emissions," Ms Fu, who is also Minister-in-charge of Trade Relations, noted in her keynote address.

Scope 3 emissions typically refer to indirect emissions from entities up and down a company’s value chain, such as business travel, commuting, waste disposal and water consumption.

The registry works by capturing a database of emission factors developed based on Singapore’s context. These emission factors will convert operational data from business activities into corresponding greenhouse gas emissions. 

In a separate press release, the SBF said that the registry supports existing reporting tools and solutions that help enterprises automate their sustainability reporting process.

It added that most Singapore businesses currently use emission factors from international sources for sustainability and carbon emissions reporting, especially for scope 3 emissions. 

"The Singapore Emission Factors Registry which contains localised emission factors will help Singapore-based businesses to track and report their emissions more accurately, and in turn, empower businesses to make informed decisions on how to reduce their carbon footprint based on their environmental impact," the federation said. 

The emission factors will be developed in phases. An initial baseload with data collected and consolidated from government agencies will be ready by the end of this year.

These include emission factors related to transportation, water, general waste, and energy. Emission factors for new categories and activities will be developed and released based on industry consultations and demand.

The registry comes ahead of Singapore's requirement for all listed companies to make climate-related disclosures from financial year (FY) 2025. Large non-listed companies will be required to do so from FY2027. 

Disclosures will need to be aligned with the standards set out by the International Sustainability Standards Board, a global accounting standards body.

"It is important to help our businesses to understand and measure their carbon footprint, and integrate sustainability into their management frameworks systematically," said Ms Fu.

Climate reporting, including disclosure of companies' climate-related data, such as carbon emissions, will enable consumers, investors and financiers to make more informed choices in their purchases and investments. They will be able to direct their finances to businesses with strong sustainability practices.

Commentary: For everyone’s sake, companies must stop manipulating their emission reports

Companies must seize opportunities to go green and stay competitive, or risk losing out: Grace Fu

More Singapore businesses will have to report sustainability information, starting with listed firms in 2025

Training workers in 'green skills'.

Ms Fu also spoke of the importance of training workers to have the relevant skills to support the country's climate action.

The Green Skills Committee, convened last year, is focusing on areas where green skills are in high demand and will remain so in the immediate and near term. Examples include clean energy and sustainability reporting and assurance. 

"We have witnessed initiatives by private companies, trade associations and institutes of higher learning, who have rolled out several programmes and courses in collaboration with government agencies," Ms Fu said. 

The Energy Market Authority, for example, has been working with training providers to launch programmes that can address clean energy skills gaps identified by the industry, such as the safe handling of energy storage systems.

While government policies and incentives were crucial catalysts for decarbonisation, Singapore also needs a vibrant marketplace of ideas, robust financing mechanisms, and strong international partnerships, Ms Fu said. 

"We need everyone ... governments, businesses, and civil society, to embrace a culture of sustainability, hold each other accountable for progress, and propel us on to a green and prosperous future," she added. 

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How Malaysia’s IOI Properties Quietly Became One Of Singapore’s Biggest Landlords

This story appears in the Apr/May 2024 issue of Forbes Asia. Subscribe to Forbes Asia

This story is part of Forbes’ coverage of Malaysia’s Richest 2024. See the full list here .

Company—owned by billionaire brothers Lee Yeow Chor and Lee Yeow Seng —has built its presence in the Lion City, where it now has properties valued at about $5 billion.

T he IOI group in Malaysia has long focused on two businesses: palm oil and property. Of the two, palm oil, held under listed IOI Corp., is the larger, with a market cap of 25 billion ringgit ($5.3 billion), compared to just 12 billion ringgit valuation for the also public IOI Properties Group. While the group’s late founder, Lee Shin Cheng , established the property business first in 1975, a string of strategic acquisitions in the 1980s through the 1990s helped Lee transform IOI Corp., into the third-biggest palm oil producer by revenue in Malaysia.

The two businesses are split along familial lines as well. Yeow Chor, the elder son of the late IOI founder, has run the palm oil side for the last decade, while younger brother Yeow Seng looks after the real estate portfolio.

“Our father had the passion for both businesses,” Yeow Chor, 57, says in a phone interview. “The cycle of property returns is much faster compared to plantation, which has a longer gestation period. It will take 5 to 6 years for the plantation to make good profits.” Lee Shin Cheng ran both businesses until he relinquished his CEO roles in IOI Corp. and IOI Properties in 2014 and appointed his two sons to lead each company. The founder remained executive chairman of both until his death in 2019.

In 2014, IOI group founder, the late Lee Shin Cheng (middle), appointed younger son Yeow Seng (left) to lead IOI Properties, and older son Yeow Chor (right) to head the plantation business.

The division of labor a decade ago was meant to allow the two brothers to each have a chance to grow their own companies by themselves. “Our father wanted to give his two sons room to develop their own businesses,” Yeow Chor says.

The palm oil business still accounts for the bulk of the Lee family’s $5.35 billion net worth. Yet the property side is growing in importance as a counterbalance to the volatile palm oil business. IOI Corp.’s revenue slumped 26% to 11.6 billion ringgit in the year ended June 2023 as crude palm oil prices retreated from historic highs in the previous year. In contrast, IOI Properties’s revenue was steady at 2.6 billion ringgit in the same period, bolstered by robust contributions from office buildings, shopping malls and hotels.

IOI Properties currently owns 36.1 billion ringgit of assets across China, Malaysia and Singapore, with the Lion City accounting for about 64% of the properties by market value.

“We’re very bullish on the Singapore economy,” Lee Yeow Seng, 45, CEO of IOI Properties, says in an interview at IOI City Resort in Putrajaya, the Malaysian government’s administrative capital 25 kilometers south of Kuala Lumpur. Built on the site of Dunlop Estates’ plantations, the office building serves as the headquarters of the Lee family’s IOI business empire.

Lee’s bet on Central Boulevard Towers looks promising, as about 50% of office space is already leased.

The IOI name, however, may soon be better known as the company is set to open its flagship development and its biggest Singapore project— IOI Central Boulevard Towers —across the street from the iconic Lau Pa Sat hawker center in the middle of the financial district. The project was a long time coming, when in 2016 IOI Properties stunned seasoned developers such as Mapletree Investments (owned by Temasek) and a joint venture of Hongkong Land and billionaire Li Ka-shing’s Cheung Kong Holdings to outbid them with a S$2.6 billion offer that landed the prime site. The office complex, costing about S$4 billion (including the land cost), comprises about 1.3 million square feet of net leasable space spread across a seven-story podium, a 16-story tower and a 48-story skyscraper.

Lee’s bet on Central Boulevard looks promising, as about 50% of office space is already leased, including tenants such as Amazon and Morgan Stanley at rents above S$11 a square foot a month, at the upper end of prevailing financial district rents. Once fully tenanted, he estimates the property would contribute at least S$180 million in annual rental income, that would have made up about 20% of the group’s revenue in the year ended June 2023. “Singapore’s appeal to the international business community has remained intact as multinational corporations continued to locate their regional headquarters to the city-state, with many citing the wide pool of talent, tax incentives, a diversified economy and modern infrastructure,” Calvin Yeo, managing director at property consultant Knight Frank, says by email. Occupancy levels at prime office buildings in the CBD stood at about 95% as of March.

Buiding Legacy

OI Properties’ history of investing in Singapore stretches back to 1996 when it purchased a commercial building in the Bugis area on the edge of the central business district. IOI then invested in Sentosa in 2007, 11 years after its first foray in Singapore, in a residential venture with Singapore billionaire Chua Tian Poh's Ho Bee Land. In recent years, Lee has doubled down on Singapore, jacking up investments with partners and doing solo developments. Lee explains that Singapore’s allure is in its evolution from a local to regional and now global city. “Singapore has positioned itself not just as a pure financial center,” he says. “It has evolved into a private banking center of the world, with a lot of family offices relocating in the city. It’s a well-planned and livable global city.” All those family offices need…well, offices, and typically willing to pay top dollar for premium addresses that befit their client’s wealthy image.

In 2011, IOI Properties invested in South Beach—a hotel, office and residential complex jointly developed and owned with billionaire Kwek Leng Beng’s City Developments. It is continuing to expand its Singapore footprint. Last November, Lee through his private company, Shenton 101, submitted the top bid for Shenton House —one of the oldest office buildings in the Raffles Place on the edge of Marina Bay—for S$538 million. The property will eventually be injected into IOI Properties and redeveloped into an office and service apartment complex with a combined net leasable space of about 500,000 square feet, Lee says, adding that the entire project would entail investment of as much as S$2 billion. “You can’t go wrong with Marina Bay,” Lee says. “There’s not much land available in the area. There’s pent-up demand and shortage of supply going forward.”

Of course, developers take on debt for a project like the Marina Bay ones, and loan repayments are increased by higher interest rates. At the end of December, IOI Properties’ debt level was 18 billion ringgit, 20% more than six months earlier, and the highest among listed Malaysian developers, according to Bloomberg. But Lee isn’t worried. He says the high gearing is temporary as he plans to sell some of its office and hotel assets into real estate investment trusts to be listed on the Singapore Exchange in two to three years.

s IOI Properties completes its flagship office building, it is gearing up to market the nearby Marina View Residences, which when completed in 2028 would house the 350-room W Hotel and the 683-unit W Residences. “It’s almost time to reap the benefits of these investments, with IOI Central Boulevard expected to start contributing to income in 2025 and Marina View in 2026,” says Hong Leong Investment Bank analyst Tan Kai Shuen by email.

Despite the softening demand for luxury properties due to cooling measures the government took last year, Tan believes W Residences will sell well due to the scarcity of such projects in the CBD. “Even an incremental sale will make a large and lumpy contribution to the group’s financials,” he says.

“You can’t go wrong with Marina Bay.”

IOI Properties’ net profit tumbled 72% to 296 million ringgit in the six months ended December 2023 from the previous year, while revenue slipped 8% to 1.25 billion ringgit, due to weaker contributions from its property projects in China and Malaysia. Despite those results, the share price has surged; on April 2, it was nearly double a year earlier, at about 2.16 ringgit. And analyst Tan sees more upside, maintaining a buy rating and a price target of 2.95 ringgit.

While IOI Properties has been building up in Singapore, it hasn’t stopped expanding at home. In recent years, IOI Properties has been converting vast tracts of agricultural land amassed by IOI Corp. into townships. Its crown jewel, the IOI Resort City in Putrajaya, comprises two 31-story towers (one of which houses the group’s headquarters), IOI Square (home to several government offices), four hotels, an 18-hole golf course, residential condominiums and IOI City Mall, the largest shopping complex in Malaysia with a gross floor area of 2.5 million square feet. According to Lee Yeow Seng, the company is spending 1 billion ringgit to add 1 million square feet to the complex, which attracts about 30 million visitors a year.

Forbes Asia

he company is also bullish on its residential and hotel project in Singapore. Behind Shenton House, IOI Properties is developing Marina View Residences which is rising on a 7,817-square-meter site it bought from the government in 2021 at the height of the Covid-19 pandemic. It paid S$1.5 billion for the land and will spend another S$1 billion to build the luxury hotel and apartment tower. “It’s a rare piece of land,” Lee says. “The government hardly sells hotel plots in Marina Bay.”

While demand for luxury residential properties in Singapore has softened since the government imposed a hefty 60% tax on foreign buyers last year to temper housing prices, Lee is confident there will be strong buying interest for W Residences when IOI Properties starts marketing the project by the mid-2024. “There are quite a number of Singaporeans who can afford to invest in this project,” Lee says, adding he hopes to sell the apartments at between S$5,000 to S$6,000 a square foot with the smallest one-bedroom units selling at S$3 million. The entire project is expected to generate sales of 8.6 billion ringgit.

Despite high interest rates and the property curbs, the prospects of Singapore’s property market remain promising due to the city’s position as a business and entertainment hub, hosting marquee events such as Taylor Swift concerts. “Supported by resilient local demand and upgrading aspirations, private residential prices are still expected to trend higher in 2024,” says Xian Yang Wong, head of property research at consultancy Cushman & Wakefield.

IOI Central Boulevard Towers in Singapore.

The W Marina Bay project excites Lee as hotel revenues in Singapore have recovered to pre-pandemic levels, with average room rates rising to all-time highs during the Formula One Grand Prix in September 2023. Overall revenue of the hospitality sector should climb to a record $1.5 billion in 2028, up 40% from last year’s level, according to Statista estimates. By the time W Hotel opens in Marina Bay, Lee says he expects rooms to be S$800 per night. With all the events held in Singapore, Lee says, “there’s been an upward structural change in the room rates for Singapore hotels.”

IOI Properties has also aggressively expanded its hotel footprint in Malaysia to tap the post-pandemic travel boom. In December, it bought the 150-room W Hotel in Kuala Lumpur for 270 million ringgit from Malaysian real estate tycoon Danny Tan’s Tropicana Corp. The following month, it acquired Tropicana’s 199-room Courtyard by Marriott in Penang for 165 million ringgit, expanding its Malaysia portfolio to seven hotels with more than 2,000 rooms.

Lee says IOI Properties is investing 500 million ringgit to build a resort across 12 hectares of beachfront property in Malaysia’s Langkawi Island. When completed in about four years, it will have a 200-room W Hotel, a convention center and a shopping mall. The company also plans to invest another 300 million ringgit to build another Penang hotel.

IOI Properties is also tapping the convention market for the 380-room Sheraton Grand Hotel in Xiamen in southeastern China. The property, slated to open this year, can accommodate 1,500 people in its ballroom. The company is also completing this year its office and shopping mall in Xiamen. “The contributions from these investment properties in China will be quite significant,” Lee says.

The IOI founder’s two sons are on the board of the other one’s company. Lee Yeow Chor, the CEO of the palm oil business, says that among the lessons the two sons learned from their father were to be “very hands-on” and visit their company workplaces—plantations or construction sites—often. “Our vision is we want to be a leading player in both palm oil and property,” the older son says. “There’s room to grow in both.”

NATURAL ENTREPRENEUR

Lee Shin Cheng was raised on a Malaysian rubber estate, and he spoke Tamil, the language of many rubber-tappers. At age 11, he quit school for a time to sell ice cream from a bicycle to help support his family. At 17, he became a supervisor of a rubber estate and, before turning 30, estate manager. The IOI founder was a natural entrepreneur. In 1975, at age 36, he started a housing project south of Kuala Lumpur and seven years later he went into palm oil, with the acquisition of Industrial Oxygen Inc, which was later renamed as IOI Corp. In 1990, Lee bought Dunlop Estates, a major palm oil producer, for 500 million ringgit (about $185 million at the time) and used it as a springboard to transform IOI into a major palm oil player with more than 200,000 hectares of plantations in Indonesia and Malaysia, along with refineries, and specialty oil and oleochemical manufacturing facilities across Asia, Europe and the U.S.

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