Tan Sri Frank Tsao Wen-King, Founder and Senior Chairman of the IMC Group, received Singapore's Honorary Citizen Award 2007 from President S R Nathan at The Istana today. Tan Sri Tsao is the first maritime luminary to receive this highest form of recognition given by the Singapore Government for outstanding contributions of foreigners to the country's growth and development.

"I am very pleased and honored to receive this highly prestigious award.Singapore has become a very important maritime hub and IMC, over the past 17 years, has grown along with it. The conducive environment in Singapore has enabled IMC's businesses to thrive. I am glad to play my part in the development of Singapore's prominent position on the global maritime map. This would not have been possible without the strong support of the Singapore Government, industry players and other institutions, and I share this award with them," said Tan Sri Tsao.

Born in Shanghai in 1925 and a graduate of St John's University, Tan Sri Tsao founded International Maritime Carriers Ltd (IMC) in Hong Kong in 1966. Under his directions, IMC moved its operational headquarters and bulk shipping operations to Singapore in the early nineties. Throughout his career, Tan Sri Tsao has played a pivotal role in shaping the growth of the maritime industry and in promoting maritime education and research. In particular, Tan Sri Tsao has been a strong advocate for Singapore, championing its development as an international maritime centre.

In 1991, Tan Sri Tsao provided valuable feedback to the conceptualization of Singapore's Approved International Shipping Enterprise Scheme which has since successfully attracted over 100 international shipping groups. The Maritime and Port Authority of Singapore (MPA) is the administrator of this scheme.

Another of Tan Sri Tsao's prime contribution was the set up of the permanent secretariat of the Asian Shipowners' Forum (ASF) last year in Singapore. Tan Sri Tsao was active in garnering the support of several Asian shipping associations. Having a permanent secretariat for ASF is a major step forward as it provides continuity and a channel for an Asian shipowners' voice on the many issues discussed with international shipping bodies.

On the recognition of a maritime luminary, BG(NS) Tay Lim Heng, Chief Executive of the MPA, said, "We are delighted as Tan Sri Frank Tsao has been a staunch advocate of our efforts to build an international maritime centre in Singapore. The award is an endorsement of his unstinting support for and extensive contributions to an important part of the Singapore economy - our thriving maritime sector." With about seven per cent direct value add to Singapore's gross domestic product (GDP), the maritime industry provides jobs for some 108,000 workers. The maritime workforce grew by an impressive 12 percent over the past year.

Tan Sri Tsao has also been passionate about the maritime educational landscape in Singapore, complementing MPA's efforts in developing maritime manpower - an important pillar of Singapore's status as an international maritime centre. In 2005, Tan Sri Tsao drove the establishment of the NUS Centre for Maritime Studies at the National University of Singapore. As its Chairman, Tan Sri Tsao oversees the Centre's advancement. The Centre functions much like a maritime "think tank" and its role is to meet information and research needs and accelerate Singapore's transformation into an international maritime hub.

A thought leader known for his business acumen in steering IMC through the major shipping downturn in the early eighties, Tan Sri Tsao also contributes actively outside the maritime arena. These include: leading a consortium to develop Singapore's Suntec City Convention Centre, the country's first convention centre, in the mid eighties; serving as advisor to the Economic Development Board (EDB) from 1991-93; and current Co-Chairman of the Singapore-Zhejiang Economic and Trade Council (SZETC).Above these, Tan Sri Tsao and his family had also set up the non-profit Tsao Foundation devoted to promoting successful ageing, including a range of health and social services through the Hua Mei Clinical Services and pioneering new approaches in ageing and eldercare in Singapore and the region.He too is an ardent supporter of the Friends of Admiral Zheng He Society that promotes the appreciation of Singapore's maritime culture.

For his efforts, Tan Sri Tsao has earned numerous accolades, including: Lifetime Achievement Award from Seatrade Asia in 2008; Honorary Citizen Award from Dalian Provincial Government in 2007; Silver Bauhinia Star from the Hong Kong SAR Government in 2006; Commodore Award (Lifetime Award) by the Connecticut Maritime Association of the US in 2002; and Personality of the Year by Lloyds Maritime Asia in 1999.

End of release

About the Maritime and Port Authority of Singapore (MPA)
The Maritime and Port Authority of Singapore (MPA) was established on 2 February 1996, with the mission to develop Singapore as a premier global hub port and international maritime centre, and to advance and safeguard Singapore's strategic maritime interests. The MPA is the driving force behind Singapore's port and maritime development, taking on the roles of Port Authority, Port Regulator, Port Planner, International Maritime Centre Champion, and National Maritime Representative. The MPA partners the industry and other agencies to enhance safety, security and environmental protection in our port waters, facilitate port operations and growth, expand the cluster of maritime ancillary services, and promote maritime R&D and manpower development.

About the IMC Group (IMC)
IMC Group (IMC) is a leading Asia-focused diversified group with business interests in maritime shipping, logistics, oil & gas assets and services, lifestyle/real estate and fund management. IMC is committed to providing innovative and customized industrial and lifestyle solutions through its strategic investments and network in Asia. Headquartered in Singapore, IMC employs more than 6,800 people representing 18 nationalities in 15 countries. For more information, please visit www.imcgroup.info.