2001 Press Release
Singapore, 25 June 2001 - Singapore Network Services Pte Ltd (SNS), a leading application service provider, received the Outstanding Supplier Award from the Inland Revenue Authority of Singapore (IRAS) for its E-Stamping system last Friday. This award highlights SNS' quality achievements in maintaining the E-Stamping Front End System.
The E-Stamping system electronically stamps documents that relate to the purchase, lease and mortgage of immovable property and the transfer of stocks and shares electronically. It then issues a stamp certificate that replaces the existing impressed or physical stamp on the document.
Mr Koh Cher Siang, Commissioner of IRAS, presented the award to Mr Michael Lie, vice president of SNS' e-Government and Healthcare sectors, at an award ceremony held on IRAS Quality Day at the Revenue House Auditorium. SNS is one of the six companies to receive the Outstanding Supplier Award from IRAS this year. This is the second year that IRAS is giving out such awards under its Excellent Partner Supplier Scheme. The scheme was introduced in recognition that suppliers are IRAS' valued partners in creating value added services to taxpayers.
"SNS is proud and happy to receive this award as it reflects our commitment to customer support. It also shows that we are able to respond to all types of incidents and rectify problems accurately and quickly. I believe our capabilities in providing such quality service have contributed to us in winning this award," said Mr Lie.
The E-Stamping application is designed to promote greater accessibility, convenience and cost savings as document submissions are processed in real-time via the Internet. The system is also fitted with a feature that automatically computes the payable stamp duty, and waits for the user's approval before the amount is deducted electronically through interbank GIRO.
Users of the E-Stamping application can be assured that information submitted is secure and protected from unauthorized users as only those with authorised IDs and passwords can gain access to the system.
Added Mr Lie, "SNS is continuously developing and exploiting new technologies for the benefit of our customers. We are quick to transform complex operations into smooth e-businesses using these technologies to enhance our clients' overall competitiveness. SNS will continue to support IRAS' vision to become the leading tax administration in the world."
The E-Stamping application was jointly developed by IRAS and SNS in 1999, and SNS has since hosted and managed the system.