OCBC Group will become the largest sponsorship partner of the Singapore Sports Hub, with OCBC Bank being named the exclusive Premier Founding Partner. OCBC Bank and its private banking subsidiary, Bank of Singapore, will have naming rights to the OCBC Arena, OCBC Aquatic Centre, OCBC Lounge (National Stadium Club Lounge at the North Wing), Bank of Singapore Lounge (National Stadium Club Lounge at the South Wing) and OCBC Premier Suite (VIP Lounge at Singapore Indoor Stadium).
At the press conference OCBC Bank signed the 15-year agreement with the Singapore Sports Hub as the Premier Founding Partner. Bank of Singapore is part of the OCBC Bank’s 15-year agreement. An in-principle agreement for a significant partnership has also been reached with OCBC Bank’s insurance subsidiary, Great Eastern Holdings.
Philippe Collin Delavaud, CEO, Singapore Sports Hub, said:
We are delighted today to welcome OCBC Bank on board as our Premier Founding Partner. This is a local Singaporean bank who has a long established record of giving back to the community, and we are proud to have them join us to help make this state-of-the-art sports, entertainment and lifestyle hub a success in the eyes of Singaporeans. OCBC’s continuous contribution will benefit the entire Singapore Sports Hub infrastructure, including helping to sustain community facilities and programming. The overall success of this innovative project will rely on both community and corporate engagement, together with national pride.
OCBC Bank Chairman, Dr Cheong Choong Kong, said:
As with other successful companies, our CSR programme is one of giving back to society. Our involvement with the Singapore Sports Hub is part of this programme, but it would be disingenuous of me to claim that CSR is the sole motivator. We cannot deny the immense commercial value of the naming rights and the prominent presence of OCBC in the iconic Sports Hub. When events of international standing are held at and televised from the Sports Hub, as they inevitably will be, the name of OCBC will be visible. This should keep our shareholders happy.
Our sponsorship money will be primarily channelled to fund activities that the community can participate in, activities that are typically not commercially viable for operators to organise. This our partner has readily agreed to. Our money will help our partner put together a variety of grassroots activities and events that could range from learn-to-play programmes and clinics for communities to try out new sports, to a simple game of football or basketball for neighbourhood children.
In anticipation of the official opening of the Singapore Sports Hub in 2014, OCBC Bank Group CEO, Samuel Tsien, who was also present at today’s media conference, said:
I am pleased that the OCBC Group has the opportunity to support one of the most iconic projects in Singapore, the Singapore Sports Hub, with OCBC Bank being recognised as the Premier Founding Partner. It is not the brick and mortar of what will be the OCBC Arena or the OCBC Aquatic Centre or any of our other named facilities that excites me. Instead, I am most excited about what the funding from the OCBC Group can do for the Singapore community: Helping the Singapore Sports Hub put together a broad spectrum of grassroots activities as well as international events that could appeal to our citizens and international visitors alike. I am excited that OCBC can play a small part in reinforcing social cohesion: Strengthening the Singapore community that we want to give back to. On the personal front, I am looking forward to being part of the Kallang Wave, which is a unique experience at sports events and concerts in Singapore. And I would like to see the Kallang Wave come to life not just at the new National Stadium, but also at the OCBC Arena and the OCBC Aquatic Centre.
Great Eastern Holdings’ Group Chief Executive Officer, Chris Wei, said:
We launched our unique Live Great Programme in May 2012 to help our customers live healthier, better and longer. Our Programme centres on actively helping our customers live a healthy lifestyle. Its wide-ranging activities and benefits, tips and information have gained tremendous traction. The world-class Singapore Sports Hub will add an exhilarating new dimension to our Live Great offerings and is an excellent platform for us to further promote the important message of active, healthy living to all Singaporeans from every walk of life. I am excited by the great synergy between OCBC Group and the Sports Hub and I am confident that the community will benefit immensely from this strategic partnership.
This is the first Founding Partnership to be officially announced by the Singapore Sports Hub, which was facilitated by World Sport Group – Singapore Sports Hub’s exclusive Commercial Rights partner.
Main picture (L-R) Adrian Staiti, SVP, Global Partnerships, WSG; Andrew Georgiou, CEO, WSG; Samuel Tsien, Group CEO, OCBC Bank; Dr Cheong Choong Kong, Group Chairman, OCBC Bank; Philippe Collin Delavaud, CEO, SportsHub Pte Ltd; Mark Collins, Managing Director, Sports Hub; Toh Boon Yi, Chief, Strategic Development & Marketing Group, Singapore Sports Council