• OVER 260 BUSINESS LEADERS FROM THESEMICONDUCTOR INDUSTRY SHARED INSIGHTS ON AUTOMOTIVE, A KEY SECTOR THAT WILLDRIVE THE INDUSTRY IN SINGAPORE IN THE NEXT 2 TO 3 YEARS.
• PARADIGM SHIFT IN QUALITY MINDSET WILL BE ESSENTIAL FOR THEAUTOMOTIVE BUSINESS TRANSFORMATION

SINGAPORE- Media OutReach - 10October 2019 - The semiconductorindustry has contributed 7.8% of Singapore's GDP and supported 35% of themanufacturing workforce. Despite the industry facing a slowdown made worse byprolonged trade tension between US and China, the automotive semiconductormarket is going to be a key driver for the semiconductor industry - expected toexpand from US$37.4 billion (S$51.5 billion) in 2017 to over US$58.5 billion in2023. This growth is fuelled by advancement in technologies such as 5G,artificial intelligence, electric vehicles and automobiles.

"Embracingthe Mobility Transformation" was the theme of the Singapore SemiconductorIndustry Association (SSIA) Summit 2019, where 9 speakers from differentcompanies and agencies including National Research Foundation, Micron, InfineonTechnologies, Soitec, Xilinx, A*STAR's Institute of Microelectronics,Singapore-MIT Alliance for Research and Technology, National Instruments andInstitute of Materials Research and Engineering, shared insights on themobility trends, and the paradigm shift in quality mindset required for themobility business transformation. There was also a panel discussion on "Technologiesthat will shape the future of mobility" where representatives from SSIA, CapitaLand,Asia Mobility Industries, TPG Telecom Pte Ltd and Soitec discussed on howdifferent technologies like AI and 5G will enable fully autonomous vehicles inSingapore and the region.

Over450 delegates from over 70 companies attended the annual flagship SSIA Summitand Dinner. Mr. Ang Wee Seng, Executive Director, SSIA, said in his openingspeech, "Getting into the automotive semiconductor business isn't as easy asone might imagine. Zero Defects, the comprehensive automotivequality control, can't be achieved by simply setting up a system or solution inthe company. It can only be achieved by a paradigm shift in quality mindset andneeds to be built into the core values of the business and starts with thecompany's leadership."

Theevent ended with a gala dinner, the Semiconductor Dinner, with Mr Damian Chan,Assistant Managing Director of EDB, as the Guest of Honour. This year's Dinner carriedthe theme "Fostering Talents for Tomorrow" to reinforce the importanceof talent development amidst different economic challenges. SSIA has also signedan MOU with NTUC LearningHub to collaborate on initiatives to upskill andupgrade the workforce for future industry needs.

SSIAhas been working closely with different agencies such as WSG and e2i to helpcompanies in talent recruitment, development and retention. Mr Andrew Chong,Chairman of SSIA, said in his speech at the Dinner, "Having the right businessstrategy or investment cannot make a business successful without the rightpeople to execute. It's now a challenging time for the industry, but it is alsothe right time to invest in our workforce and keep our talents."

Speakers and presentationtopics at the Summit:

About Singapore Semiconductor Industry Association

Singapore Semiconductor IndustryAssociation (SSIA) has more than 160 members today including companies andorganisations throughout all parts of the complex and comprehensive value chain- IC design companies, Manufacturers, Fabless companies, Equipment suppliers,Photovoltaic companies, EDA and material suppliers, Training and serviceproviders, IP companies, research institutes and Academia, as well asindividual members. Since 2013, SME membership has grown exponentially and SMEsnow account for close to half of SSIA's membership. For more information aboutSSIA, please visit: https://ssia.org.sg/