SATS
#3389
Rank
$3.21B
Marketcap
Singapore
Country
Mr. Tee Heong Mok (CEO, Pres, Member of Group Management Board & Exec. Director)
Mr. Chuan Lye Tan (Member of Group Management Board & Chairman of Food Solutions)
Mr. Kok Khong Seah (Member of Group Management Board & CFO)
Summary
History
Origin
The history of SATS can be traced back to the very beginning of commercial aviation in Singapore. In the early years, ground-handling services were provided by a department of Malayan Airways, which became Malaysia-Singapore Airlines in 1967. Five years later, MSA ceased operations and paved the way for two new entities — Singapore Airlines and Malaysian Airline System .
As SIA concentrated on its core business of running an airline, the establishment of SATS as a separate, yet wholly owned subsidiary company evolved naturally. On 15 December 1972, SATS was formally corporatised with 1,673 staff. By the end of the first year, staff numbers rose to 2,000 while gross revenue increased by 25 per cent.
Early history
In 1977, SATS opened an airfreight terminal at Paya Lebar Airport capable of handling 160,000 tonnes of cargo a year.
In 1980, SATS made the move to Singapore's new Changi Airport after investing S$147 million in a new headquarters building, a new inflight catering centre, which at that time was the largest single-building inflight kitchen in the world, and two new airfreight terminals.
By the mid-1980s, SATS was able to handle about 20,000 passengers a day at Changi Airport, a 60 per cent increase over the 12,700 passengers handled daily at Paya Lebar Airport in 1980. Cargo also registered double-digit growth rates.
In 1985, SATS was restructured into four companies so that it could better manage demand for its services. Singapore Airport Terminal Services became the parent company and subsidiaries were formed out of the four operating divisions: Apron Services, Cargo Services, Passenger Services and Catering.
In 1989, SATS added two new airfreight terminals and invested in new passenger handling equipment for Changi Airport's Terminal 2. This increased its passenger handling capacity to more than 20 million passengers a year.
1992-2009
In 1992, three companies within SATS — Apron, Cargo and Passenger Services — were merged to form a new company, SATS Airport Services . This consolidation was designed to improve co-ordination and communication, and strengthen the SATS Group's competitiveness.
Over the next four years, an express courier centre, capable of handling 40,000 tonnes of cargo a year, was opened along with the S$215 million Airfreight Terminal 5, the S$172 million Inflight Catering Centre 2 and a S$40 million SATS Maintenance Centre.
At the end of the 1999-2000 financial year, SATS owned and operated five airfreight terminals with a combined handling capacity of 1.3 million tonnes of cargo a year and two catering centres capable of producing 27 million meals a year.
A second Express Courier Centre for partner DHL Worldwide Express, costing S$30 million, was completed in December 2001.
In the first quarter of 2001, a sixth airfreight terminal costing S$270 million with a handling capacity of 800,000 tonnes of cargo per annum commenced operations.
2003 saw the launch of SATS' web-based system, CargoNet, to further complement its cargo tracking service. It also upgraded the materials handling system in Airfreight Terminals 1 to 4 to improve cargo handling efficiency and equipment serviceability.
In July 2005, SATS launched a range of new products and service upgrades.On 2 January 2008, SATS sold the Express Courier Centre Two to DHL Express.
1st re-branding exercise
SATS underwent a re-branding exercise in Apr 2007, adopting a completely new brand identity after bearing the SIA ‘bird' logo for many decades.
2010-present
In December 2010, SATS Ltd completed the acquisition of Japan Airlines International's entire stake of 50.7 per cent in TFK Corporation. The 7.8 billion yen purchase, was fully satisfied in cash and funded through debt through its wholly owned subsidiary SATS Investments Pte Ltd . Following the completion, SIPL now owns 504,195 shares in TFK and has voting rights of 53.8 per cent.
On 25 October 2011, SATS announced that it will be selling Daniels Group to Hain Celestial Group.On 23 December 2011, the SATS-Creuers consortium and Creuers del Port de Barcelona S.A. ) won the bid to manage the new Marina Bay Cruise Centre Singapore. SATS-Creuers beat out competition from the Singapore Cruise Centre , the incumbent cruise port operator in Singapore, which operates the existing facilities at HarbourFront and Jurong Port.
2nd re-branding exercise
SATS used to be part of the Singapore Airlines Group and was divested from SIA on 1 Sep 2009.On 08 January 2010, it unveiled a new uniform for its front-line staff at the Singapore Changi Airport. The uniform change is SATS’ eleventh since 1973.
The company also changed its name from "Singapore Airport Terminal Services Limited to "SATS Ltd". on 30 July 2010.
On 7 June 2011, SATS unveiled a new brand identity. The group was initially engaged in ground handling and airline catering in Singapore. It has since transformed itself into Asia's largest gateway services and aviation food services network and has operations at 60 locations in 14 countries.
Acquisition of Worldwide Flight Services
On 28 September 2022, SATS announced its acquisition of the world's largest air cargo handler Worldwide Flight Services for $1.64 billion.
Mission
Vision
Key Team
Mr. Chi Choy Cheah (Member of Group Management Board & CEO of Greater China)
Ms. Li Lian Tan (Member of Group Management Board & Chief Human Capital Officer)
Mr. Cheng Bock Chi (Sr. VP of Sales & Marketing and Member of Group Management Board)
Veronique Cremades-Mathis (Member of the Management Board)
Yuen Por Goh (Member of the Management Board)
Mr. Kin-Ming Low (Member of Group Mgmt Board, CEO of Consumer Services and Chief Strategy & Sustainability Officer)
Ms. Poh Lin Tan (Sr. VP of Technology)
Recognition and Awards
References
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Mr. Tee Heong Mok (CEO, Pres, Member of Group Management Board & Exec. Director)
Mr. Chuan Lye Tan (Member of Group Management Board & Chairman of Food Solutions)
Mr. Kok Khong Seah (Member of Group Management Board & CFO)