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STEP into the seven-storey building of home-grown pharmaceutical manufacturing firm Borden Company at Jalan Kilang, and you will be greeted by a pleasant scent.
The sweet smell is that of the company's flagship product, the Eagle brand medicated oil, which is affectionately known as the 'Green Oil' among its loyal users.
The Eagle brand medicated oil has a long history dating back to 1935, when German chemist Wilhelm Hauffmann created the winning formula for J Lea & Co, a trading house owned by the late Tan Jim Lay, a direct descendant of Tan Quee Lan.
In the post-war period, the Eagle brand medicated oil flourished and dominated the domestic market.
In 1960, Mr Tan Jim Lay and his business associates incorporated Borden Co to take over the business of J Lea & Co.
'Today, six million bottles of the Eagle brand medicated oil are produced every year and account for around 80 per cent of Borden's annual turnover,' says Mr Christopher Yeo, Borden's managing director.
The Eagle brand medicated oil is especially popular among the Vietnamese community, which has been using it as a common household remedy since the 1960s.
Borden even had plans to start a manufacturing facility in Vietnam, but it was aborted due to the Vietnam War.
However, the natural course of events spelled new opportunities for Borden. The new enclaves of Vietnamese immigrants in North America, Europe and Australia continued to sought the 'Green Oil', driving sales growth in these new shores.
Today, Borden's largest market is in the United States at 29 per cent, followed by Vietnam at 19 per cent.
International sales in over 20 countries account for 90 per cent, and domestic sales in Singapore make up the balance of 10 per cent.
Eagle brand medicated oil is positioned as a premium-grade medicated oil, and its identity is enhanced by its uniquely shaped Parisian triangular ascending glass bottle.
The brand is so popular that unscrupulous companies have produced counterfeits to pass off as the genuine product.
To safeguard the Eagle brand medicated oil, the packaging was improved to incorporate 3-D holograms with security features.
While Borden produced only the Eagle brand medicated oil from 1960 to 2002, an extended range of pharmaceutical products has been created under Mr Yeo's leadership.
During the 2003 Sars crisis, Borden introduced the Eagle brand eucalyptus disinfectant spray and swipes.
The positive market response was encouragement for the company to introduce more new products such as medicated balms, muscle rubs and plasters.
Borden has been unfazed by the economic downturn. 'Our industry is recession-proof. When you are sick, you will still need medication,' explains Mr Yeo.
The company can also minimise the inventory cost of raw materials and finished products. 'We are able to tailor production to demand. Our distributors let us know their orders six months to a year in advance, so there is no need to over-produce,' says Mr Yeo.
Moving forward, the company aims to increase uptake of its product range of balms, rubs and plasters among young and active consumers.
The company has also set its sights on new international markets such as Russia and other parts of Eastern Europe.
Borden actively participates in overseas trade missions, fairs and exhibitions to promote its products to potential customers, and garner awareness and business opportunities from interested agents.
'When we go to a new country, we position ourselves as a Singapore home-grown brand. Being made in Singapore is a form of quality assurance,' says Mr Yeo.
'Our vision is to be a globally recognised pharmaceutical brand known for the premium quality of its products,' he adds.
This article was first published in The Straits Times.
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