Tracesafe Inc (CSE:TSF) said it has recognized by Singapore's deputy prime minister and finance minister, Heng Swee Keat while he presented the City state's national budget for the financial year April 2021 to March 2022.
The company, a global leader in wearable safety tech and connected workforce solutions, including large-scale venue management and asset tracking, noted that, according to Singapore's deputy prime minister, the new national budget is structured to equip Singapore workers with deep and future-ready capabilities.
As part of the budget, he said the "Open Innovation Platform facilitates the matching of problems faced by companies and public agencies with solution providers, and co-funds prototyping and deployment." Through the Open Innovation Platform, Singapore's Building and Construction Authority was matched with TraceSafe, "to develop solutions for safe reopening of worksites."
"The firms developed real-time systems that helped construction site owners conduct contact tracing and health monitoring of their workers," the deputy prime sinister said in Singapore's parliament on Tuesday, February 16.
READ: TraceSafe deploys 10,000 wearable units to a government-affiliated organization in Malaysia
In a statement, Wayne Lloyd, TraceSafe CEO commented: "We're proud to work alongside the Singaporean government and enterprise partners, as well as Deloitte, to support real-time systems for a connected worker ecosystem."
"By expanding our operations in Singapore we're strategically positioned to assist enterprises and the government to build solutions that prioritize worker safety," he added.
In addition to Singapore, TraceSafe's wearable safety technology is trusted by government agencies and enterprise partners worldwide, including Canada, Hong Kong, Brunei, and the Cayman Islands.
On Monday, Tracesafe had announced the immediate deployment of 10,000 wearable units to a government-affiliated organization in Malaysia.
The company said it continues to grow momentum in Southeast Asia following a recently successful multi-country deployment of 60,000 wearables for a tier-1 semiconductor company, which included 3,000 units for their employees at a manufacturing facility in Malaysia.
Monday’s announcement is part of TraceSafe's strategic focus on enterprises with over 1,000 employees, which are actively implementing safety protocols in the region. According to S&P Capital IQ, there are over 700 companies in Malaysia that employ over 1,000 workers, totaling a potential market of 3.3 million employees.
Contact the author at jon.hopkins@proactiveinvestors.com