Intraco Systems

In 1968, as Singapore was charting its path to industrialization, the government established the International Trading Company, or Intraco. It was a strategic move, born out of the Economic Development Board, to solve a critical problem: how to find global markets for locally made products and secure competitively priced raw materials for a budding nation. The government, along with private entities, jointly owned the company, with Sim Kee Boon appointed as its first chairman and managing director. The mission was clear and ambitious. Intraco quickly set up overseas offices in markets like Vietnam, Australia, Indonesia, and the Soviet Union to promote Singaporean goods. The strategy paid off. Within its first year, the company turned a profit and, by 1971, had a turnover exceeding S$50 million. A major milestone arrived in December 1972 when Intraco went public on the Singapore Stock Exchange. The IPO was a resounding success, with shares being oversubscribed more than 70 times, signaling strong public confidence in its role in the nation's economic strategy. Over the decades, Intraco evolved significantly from its original mandate. While its initial purpose was fulfilled as other institutions took over trade promotion, the company repositioned itself. Today, Intraco operates in diverse sectors including the trading of plastic resins and liquor, providing supply chain finance, and even delving into digital securities and assets.