February 24, 2004
NTUC Income & Yeo Hiap Seng have confirmed their joint sponsorship of the S-league 2004
NTUC Income had been sole title sponsors of the S-League for the last 3 years & had pumped in $3.5 million during that period.
This season though NTUC Income & Yeo Hiap Seng will contribute a total of $1 million in the 1st co-title sponsorship in the S-League's history.
When asked why Yeo Hiap Seng was sponsoring th eS-league when the company had just reported a nett loss of $7.9 million in 2003 from $2.9 million previously &revenue was down to $326.3 million from $364.2 million.
Anthony Chia, executive vice-president of Yeo's, stated the decision was made because the S-League is a national institution in the making & the main loss is provision for properties arm of the company.
Anthony Chia stated the food and beverage side is making money, and coming into the S-League will be their 1st major branding exercise for the year. Fans will get free drinks during matches & for a twist, they will even try out new drinks before official launching them.
A feedback will also be carried out to find out the drinks the publics want so that they could produce those drinks