Kingsmen: $32m (5 years) to build suites, outfit clubs and supply 20,000 seats
Hetat: $18m (5 years) to manufacture, install and maintain steel debris fences
CAA Technologies: $3.5m to produce 4m-long reinforced concrete barricades
THE race has not even started, but some local firms have already found themselves at the head of the grid when it comes to cashing in on the SingTel Singapore Grand Prix.
At least 12 companies - including many small and medium-sized enterprises (SME) - have snagged lucrative contracts to help race organisers make this weekend's mega-event a success.
One of the first was communications firm Fulford Public Relations.
The company was appointed last September to help drum up publicity, create awareness of the event and drive ticket sales.
Managing director Linda Fulford said the firm's strong heritage in motor sports gave it a distinct edge over its bigger international rivals.
"We went to some of the motor races and worked across the region...which is why we're very comfortable in the motor-sports arena, so in that sense we were unique," said Fulford, a Briton who has lived here for 11 years.
She declined to reveal the value of the account, preferring instead to look at the contract as a significant profile-booster for her business.
"It was a very prestigious win for us because it was certainly one of the most coveted businesses," she added.
While Fulford's deal required the firm to spread the word of the race overseas, specialist contractors CAA Technologies and Hetat operated here.
Both firms were signed up to ensure the safety of spectators.
Officials from the companies told The Straits Times that they had to produce about 2,800 pieces of concrete barricades and steel fencing in less than nine months.
The job was made all the more challenging by rising steel costs and the stringent requirements of the International Automobile Federation (FIA) - Formula One's governing body.
"When the contract was awarded on Jan 4, it amounted to only $2.9 million," said Tony Chi, chairman of CAA, the firm which made the four-metre-long reinforced concrete barricades.
"But, because of some modifications required by Singapore GP and steel prices rising almost 150 per cent, the contract went up to $3.5 million."
Chi said the lucrative contract would contribute an additional 25 per cent to the firm's revenue this year.
"This is a very significant event for Singapore and my staff and I are very pleased to be involved in a small part," he added. "I bought tickets even though I am not an F1 fan."
Hetat founder and director Henry Ng will not be at the race as a spectator.
His company's deal with the Singapore GP - worth $18 million over five years - requires it to manufacture, install and maintain debris fences during the entire event.
"I'll be on stand-by at the circuit on race day, just in case any of the fences need to be attended to by my team," said Ng.
"But that's not a problem; this is a Singapore grand prix and it should have Singapore companies running the event.
"It also gives us a chance to demonstrate our capabilities with the whole world watching."
The executive chairman of events specialist Kingsmen Creative, Benedict Soh, agreed that the race gives Singapore firms an international stage on which to showcase their skills.
Under a deal worth $32 million over five years, Kingsmen will build corporate and grandstand suites, outfit the paddock clubs and supply and install about 20,000 gallery seats around the circuit.
Kingsmen landed the deal last December and tapped on its Australian counterparts to help design the gallery seats.
"We actually invested over $10 million of our own funds into this project because we believe the event will be immortalised," said Soh.
STRONG HERITAGE
"We went to some of the motor races and worked across the region...which is why we're very comfortable in the motor-sports arena, so... we were unique."
Linda, MD of Fulford Public Relations
SIGNIFICANT EVENT
"My staff and I are very pleased to be involved in a small part. I bought tickets even though I am not an F1 fan."
DR TONY CHEW, CAA chairman, whose firm made the reinforced concrete barricades BELIEF
"We invested over $10m into this project... because we believe the event will be immortalised." BENEDICT SOH (above), executive chairman of events specialist Kingsmen Creative
This article was first published in The Straits Times on Sept 23, 2008.
