2006 Press Release
Singapore, 14 September 2006 - Leading IT solutions provider CrimsonLogic Pte Ltd has embarked upon an Affiliation Agreement with the City of Knowledge, making it the first Singapore-based company to be admitted into this prestigious technology park in Panama.
Alongside local partner dChain, CrimsonLogic will embark on software development work in the City of Knowledge, starting with the localization of its suite of products and services. The total size of the combined space with dChain is approximately 300 square metres. Over the five-year lease period, CrimsonLogic and dChain will actively engage in the transfer of project management skills, software development and implementation skills. CrimsonLogic has had a presence in Panama since 2004.
“We are delighted to welcome CrimsonLogic into the City of Knowledge,” said Jorge Arosemena, Executive Director, City of Knowledge. “The vision for this complex is to promote education, research, and innovation on a global scale, and facilitate synergies between universities, scientific research centers, businesses, and international organizations. We look forward to working with the team at CrimsonLogic to help us achieve this vision.”
Said Mr. Leong Peng Kiong, Chief Executive Officer of CrimsonLogic, “Winning the project with the Panama Canal Authority in 2004 gave us the platform to establish a presence in Panama. Its ideal location, political stability, infrastructure and government commitment to technology make it a good launchpad for CrimsonLogic to explore business opportunities in Central and Latin America. In addition, Singapore’s Free Trade Agreement with Panama augments the need for us to extend our presence to this fastgrowing region.”
CrimsonLogic was able to meet the City of Knowledge’s stringent admission requirements, including technological, financial and environmental practices. The agreement paves the way for CrimsonLogic to set up operations in the City of Knowledge and provides a platform for its contribution towards the growth of the technology park.