FM Global breaks ground on new $55M Singapore facility

THIS $55 MILLION, 125,000-square-foot, six-story building will feature the FM Global Asia SimZone, which will offer hands-on education to clients, partners, industry and government officials in Asia. FM Global said ground was broken on the project last week in Singapore. / COURTESY FM GLOBAL
THIS $55 MILLION, 125,000-square-foot, six-story building will feature the FM Global Asia SimZone, which will offer hands-on education to clients, partners, industry and government officials in Asia. FM Global said ground was broken on the project last week in Singapore. / COURTESY FM GLOBAL

JOHNSTON – FM Global said ground was broken last week on an approximately $55 million loss prevention training and operations center in Singapore, which represents additional expansion in Asia for the commercial and industrial property insurer.
FM Global spokesman Steven Zenofsky said that Singapore was a natural choice for the facility as the company has had “a long-established track record operating in Asia.”
“As our mutual policyholder/owners have expanded their operations in Asia, we have worked locally with them for decades to help them protect their property in the region. The establishment of this new loss preventing training and operations center represents a huge investment in the region and our ongoing commitment to serve our clients, as they continue to expand throughout Asia,” he wrote in an email.
The six-story, 125,000-square-foot building will feature the FM Global Asia SimZone, which offers hands-on education to clients, partners, industry and government officials in Asia. FM Global said it will be the first hands-on training facility of its kind in Asia. The center is expected to be operational in early 2019.
Said FM Global’s President and CEO Thomas Lawson, “The facility will leverage our nearly two centuries of loss prevention engineering and client experience, and expand our insurance and engineering operations in Singapore into full-fledged education.”
Through the center, FM Global will continue to work with companies to help them become more resilient by educating them about the property hazards that can affect their business. The company expects to deliver loss prevention advice based on scientific research and engineering for businesses, instead of solely relying on insurance for protection.
The center will feature interactive laboratories and learning areas to allow the safe simulation of property risks, such as natural hazards, fire, ignitable liquid, construction, electrical hazards and industrial equipment malfunction, in a protected environment to help visitors better understand how local hazards can be mitigated.

Stefano Tranquillo, senior vice president of FM Global’s Asia-Pacific division, said Asia is prone to “frequent and severe natural hazards, such as windstorms, floods and earthquakes.”
“Given that sound loss prevention practices in this part of the world are hard to come by, businesses are not always operating at the highest possible standards of risk management. As such, we are looking forward to forging mutually beneficial collaborations, including partnerships with institutes and governments through the establishment of this center, which will ultimately benefit Asia and its trading partners across the globe,” Tranquillo said.
The building is being constructed by Ascendas-Singbridge, a provider of business space solutions in Asia.

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