Moscow, 19 September 2018 – Sistema PJSFC (hereinafter "Sistema" or "the Corporation") (LSE: SSA, MOEX: AFKS), a publicly traded diversified holding company operating primarily in Russia and the CIS, announces that its wholly owned subsidiary Sistema Asia Pte. Ltd established to manage the Corporation's investments in India, Singapore and SE Asia, Russian Export Centre, Skolkovo Foundation and Enterprise Singapore signed a Memorandum of Understanding to facilitate an Information Communication & Technology Innovation Hub (hereinafter, "ICT-Hub") in Singapore and Russia on the basis of the Sistema Asia platform in Singapore and Skolkovo Innovation Centre in Moscow. The ICT-Hub is expected to be leveraged as a “landing pad” for the Russian and Singaporean companies seeking to expand in Singapore / SE Asia and Russia respectively.
The agreement was signed by Sergey Savchenko, CEO of Sistema Asia Pte. Ltd, Anna Belyaeva, Managing Director for International Business Development at Russian Export Centre, Kirill Kaem, Senior Vice President for Innovations at Skolkovo Foundation, and G. Jayakrishnan, Global Markets Director, CEELAC, Enterprise Singapore in the frame of ninth session of the high-level Russia-Singapore inter-governmental commission and Russian Deputy Prime Minister Maxim Akimov’s visit to Singapore.
The agreement will promote strategic collaboration between the Russian Federation and the Republic of Singapore, including the growth of export revenues of Russian and Singaporean companies through the promotion of ICT products and services in the markets of Russia and Singapore, the establishment of mutually beneficial business cooperation, the expansion of the exchange of information and ideas between the countries, as well as the creation of new joint ventures (JVs) between the countries' enterprise ecosystems and the support for the JV efforts to export their joint products and grow revenue outside of their home markets.
The ICT-Hub is expected to start operations in 2019.
"Introduction of advanced technologies and support of innovations are among Sistema's top priorities. The Corporation's investment portfolio includes a number of hi-tech companies, including in the areas of telecommunications, microelectronics, airspace technologies and satellite systems. Our venture arm Sistema Asia Fund has been operating in Singapore and India for several years. It focuses on investments in hi-tech businesses in India and Southeast Asia. We will be glad to use our vast experience in the Asian markets and our accumulated hi-tech competences for development of the ICT markets", says Vsevolod Rosanov, Managing Partner of Sistema.
Sistema PJSFC is a publicly-traded diversified Russian holding company serving over 150 million customers in the sectors of telecommunications, high technology, banking, retail, timber processing, agriculture, real estate, tourism and healthcare services. The company was founded in 1993. Its revenue in 2017 reached RUB 704.6bn; its total assets equalled RUB 1.1tn as of 31 December 2017. Sistema's global depositary receipts are listed under the “SSA” ticker on the London Stock Exchange. Sistema’s ordinary shares are listed under the “AFKS” ticker on the Moscow Exchange. Further information is available at www.sistema.com.
Sistema Asia Pte. Ltd is a wholly-owned subsidiary of Sistema PJSFC in Singapore established to manage the Corporation's investments in India, Singapore and SE Asia. It is an investment holding comprised of Sistema Asia Capital, a management company for direct and venture investments, Sistema Asia Fund, a VC fund focused on investment in high-tech companies in India and SE Asia, and Sistema Business Scalerator, a management consulting and operational platform that helps “growth” stage companies scale up, enter new markets and develop business in Singapore, India and SE Asià.
Russian Export Center JSC (REC) is a State-owned development institute established by the Government to support the development of the non-commodity exports industry/sector. REC offers a wide range of financial and non-financial support tools to benefit the Russian exporters explore the foreign markets and build capacity in the global trade. REC also acts as a focal point for interaction with the relevant domestic ministries and agencies and cooperates with key industries and business players in Russia to improve the export conditions in Russia and help bypass trade barriers.
The Russian Export Center Group incorporates the Russian Agency for Export Credit and Investment Insurance (EXIAR JSC) and Eximbank of Russia JSC aiming to offer comprehensive integrated services to the export-oriented companies.
The Skolkovo Foundation is a non-profit organization founded in September 2010 with the objective of accelerating Russia’s transformation from a resource-intensive to an innovation-based economy. To achieve this objective, the Foundation is overseeing the creation of the Skolkovo Innovation Center, composed of more than 1,800 high-tech startups, Skolkovo Technopark, the Skolkovo Institute of Technology (Skoltech) - a new graduate research University established in collaboration with the Massachusetts Institute of Technology - and Skolkovo city, located near Moscow. Together, these entities establish a vibrant ecosystem of technology innovation and entrepreneurship. The cumulative revenue of Skolkovo’s startups reached $2,5 billion. They brought in more than $186 million in investment, creating 27,000 jobs and filing over 1,100 patent applications along the way. By 2020 over 2 million square meters of residential and office space will be built in Skolkovo with 35,000 people working daily in the Innovation Center. For more information: www.sk.ru/en.
Enterprise Singapore is the Singapore government agency championing enterprise development. It also supports the growth of Singapore as a hub for global trading and startups.The agency attracts global commodities traders to establish their global or Asian home base in Singapore. Today, Singapore is a leading global trading hub with a complete ecosystem for the energy, agri-commodities and metals & minerals trading clusters. Singapore is also home to many global enterprises, startups and investors that operate in its robust pro-enterprise environment.
As the national standards and accreditation body, Enterprise Singapore builds trust in Singapore’s products and services through quality and standards. Renowned for their dedication to quality and innovation, Singapore companies make ideal business partners. With Enterprise Singapore’s global network in over 35 locations spanning many developed and emerging markets, it connects businesses with relevant Singapore companies for their business expansion. Visit www.enterprisesg.gov.sg for more information
For further information, please visit www.sistema.com or contact:
Tel.: +7 (495) 730 66 00
Tel.: +7 (495) 228 15 32