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OCBC, Bank of Singapore Enters Premiere Partnership With Singapore Sports Hub

Vanessa Doctor Asia Correspondent 12 November 2013

OCBC, Bank of Singapore Enters Premiere Partnership With Singapore Sports Hub

OCBC, the Singapore financial services group, has been named as one of the major sponsors of the Singapore Sports Hub, Singapore's premiere sports, entertainment and lifestyle community located in Kallang. 

OCBC takes the exclusive title as "premiere founding partner" in what the bank calls is the first sports venue sponsorship for the sports and entertainment industry, OCBC and its private banking subsidiary, Bank of Singapore

This 15-year agreement effectively gives the bank naming rights to key facilities, including the OCBC Arena (sports hall), Bank of Singapore Lounge (National Stadium Club lounge) and OCBC Premiere Suite (VIP lounge at Singapore indoor stadium). An in-principle deal for a significant partnership has also been reached with Great Eastern Holdings, OCBC's insurance subsidiary.

The development is a further sign of how wealth management firms have sought to use sports sponsorship and support, in some cases, to build brand awareness, as UBS has done for example with Formula One motor racing, or Falcon Private Bank with the Toro Rosso racing team.

"Our CSR programme is one of giving back to society, but it would disingenuous of me to claim that CSR is the sole motivator. We cannot deny the immense commercial value of the naming rights and the prominent presence of OCBC in the iconic hub," said Dr Cheong Choong Kong, chairman of OCBC Bank.

The Singapore Sports Hub will be officially opened in 2014 and will feature a 55,000-capacity National Stadium, a 6,000-capacity indoor Aquatic Centre and a 41,000 square metre retail space, among others. 

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