Advent of the Era of the AEC and Its Impact on Singapore and Indonesia(23)

Comparative Study on the Perception and Response of Singapore and Indonesia

As shortly mentioned at the introductory part, the ASEAN Studies Centre of the Institute of Southeast Asian Studies in Singapore came up with a book titled 'Achieving the ASEAN Economic Community 2015: Challenges for Member Countries & Businesses' in 2012.

According to the foreword of the book, papers compiled in the volume were presented during the ASEAN Roundtable on 29 April 2010 and a brainstorming session on 23 September 2010. The book basically looks over the prospects for achieving an ASEAN Economic Community by 2015 and the obstacles in the way of its achievement from the aspects of each of the member states of ASEAN.

Advent of the Era of the AEC and Its Impact on Singapore and Indonesia(22)

Comparative Study on the Perception and Response of Singapore and Indonesia

Founded as an electrical supplies and water pipe fitter in 1960, WIKA in Indonesia has been transformed into a holding company in construction, engineering procurement construction and investment, with 10 subsidiaries. WIKA has moved into distinct sectors, among them industry, infrastructure and building, energy and industrial plant construction, realty and property, as well as investment. 

After successfully participating in the development of infrastructure and construction projects in Indonesia, WIKA is expecting to expand in ASEAN and beyond. WIKA has expanded into Sarawak in Malaysia and East Timor. As a state owned company, WIKA is a keen supporter of the AEC.

Advent of the Era of the AEC and Its Impact on Singapore and Indonesia(21)

Comparative Study on the Perception and Response of Singapore and Indonesia

Its product portfolio continues to evolve, tracing ASEAN economic development and consumer trends through years. 

Currently, Super Group has 15 manufacturing facilities, with manufacturing and packaging plants in Singapore, Malaysia, Thailand and Vietnam, as well as in China and puts out more than 300 products across categories. Super Group aims to forge ahead with its regional expansion.

Advent of the Era of the AEC and Its Impact on Singapore and Indonesia(20)

Comparative Study on the Perception and Response of Singapore and Indonesia

They are Singapore's Super Group for brand reach and Indonesia's WIKA for corporate transformation. Business outlines of the two examples incubating the potential of the AEC go like this. 

Super Group in Singapore has been progressively attempting to reach consumers in Southeast Asia with its instant food and beverage products since 1987. Super Group has begun to roll off its manufacturing lines for newer products as its consumer base has become increasingly affluent. 

Advent of the Era of the AEC and Its Impact on Singapore and Indonesia(19)

Comparative Study on the Perception and Response of Singapore and Indonesia

As a result, Singapore and Indonesia has enjoyed the benefits of the ASEAN economic integration over the years. Singapore has been actively expanding its business domain all over the region with its service-oriented policy initiatives. 

For Indonesia, fruits of strategic focuses on economy of scale have been harvested across the secondary industry. The ASEAN Secretariat report cited above illustrates two cases as evidences of commercial viability in the age of the AEC.