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Source:
www.gov.sg |
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SPEECH BY MR RAYMOND LIM, MINISTER FOR
TRANSPORT, AT THE OBSERVATION OF CHANGI AIRPORT TERMINAL 3 TRIAL,
30 AUGUST 2007, 4.00 PM |
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An Excerpt |
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Hitherto CAAS has been performing two
distinct roles under one organisation -- one as a regulator of civil
aviation matters and another as an airport operator. |
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After careful consideration, the government
believes that it is necessary to corporatise Changi Airport and to
re-structure CAAS’ existing regulatory and strategic functions under a
new regulatory body. |
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There has been a paradigm shift in the
airport sector. Airports are increasingly seen more as a business rather
than basic transport infrastructure. |
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Corporatisation will enhance Changi
Airport’s ability to compete in this changed landscape. In being more
nimble the new entity will further strengthen Changi’s position as a
premier air hub. |
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Currently, CAAS has a dedicated subsidiary
for overseas ventures but more can be done to market Changi’s expertise
as a global airport operator overseas. |
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Just as Schiphol and Fraport Airport Groups
have developed global brand names through their airport management and
consultancy expertise, we will leverage on Changi Airport’s reputation
to develop an international presence. |
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Further, CAAS’ most valuable asset is
its pool of experienced and dedicated officers. This limited pool
of talent is highly valued and is sometimes pursued by the
competitors of Changi. |
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Through this corporatisation exercise,
Changi Airport will have greater flexibility to attract and retain
top talent to compete with global airport operators. More career
options would be made available. |
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While some may choose to focus on
regulatory work, those who want overseas stints will have more
opportunities as the new corporatised entity ventures overseas. |
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Corporatisation is a complex process.
We will plan carefully and explore all possible options. The
entire process is expected to take 18 to 24 months. |
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We will be appointing a consultant to
assist in the corporatisation of Changi Airport and to help the
regulatory body design a new regulatory regime. |
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We will consult widely. A series of
feedback sessions has been planned for CAAS staff and stakeholders
in the aviation industry throughout the process. |
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We firmly believe that to be
successful, we need to work together with our staff and customers,
to ensure the best possible operating structure for Changi
ahead... |
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Full Text of Speech |
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Source:
www.gov.sg Media Release 30 Aug 2007 |
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Changi Airport to be corporatised