Whither HSBC golf event?

Whither HSBC golf event? 01 February 12 The Straits Times by Jonathan Wong

A CLOUD of uncertainty hangs over the future of the HSBC Women's Champions, the only LPGA-sanctioned golf tournament in Singapore.

This year's edition is the final leg of a three-year contract with the bank. The British financial giant had renewed its initial two-year deal in 2009.

The US$1.4 million (S$1.75 million) event will be hosted again at the Tanah Merah Country Club in three weeks but plans for an extension are still undecided, said HSBC Singapore's head of marketing Darren Friedlander yesterday.

'We've been doing this for five years and we're passionately involved and we love it,' he said on the sidelines of yesterday's press conference for the local qualifying event.

'But what's important to understand is sponsorship is a business-driven decision. So we need to evaluate this particular tournament on a purely business-driven objective basis.'

The inaugural edition in 2008 drew some 20,000 spectators over four days, but the tournament, which attracts many of the top-20 players, has grown in popularity. Last year, nearly 28,000 fans filled the grounds at TMCC's Garden Course.

Its popularity has also been felt inside the ropes, with many players referring to the tournament as 'Asia's Major'.

Before last year's edition, Giles Morgan, HSBC Group's head of sponsorship, had told The Straits Times that 'Singapore feels like the right place to be'.

Yet all this may not be enough to sway HSBC.

Said Friedlander: 'If you look at the first four years, it's been fantastic. But we have a fifth year to go and the business evolves as well and its objectives evolve too. What was fantastic three or four years ago, is a little bit different to how things are today.'

Part of the bank's consideration is the current global economic climate. Last year, it announced massive cost-cutting measures, including plans to save up to US$3.5 billion by 2013 and to axe 30,000 jobs globally.

Even when HSBC renewed its sponsorship in 2009 during the economic downturn, it lowered the prize purse of US$2million for the first two editions to US$1.3 million for the 2010 edition.

Noted Friedlander: 'Every organisation, now or any other time, is very conscious of its bottom line, and putting on a big tournament like this is not cheap. But we are very committed to golf.'

And to women's golf, he stressed.

'We're very committed to Asia and Singapore is a critical market for us, so it makes a lot of sense to have a big presence here,' he added.

Members of the local women's golf fraternity are hoping that the tournament remains in Singapore.

Koh Sock Hwee, 22, who will represent the Republic at the Feb 23-26 event, said: 'For the local girls, trying to qualify for this tournament is what we spend the whole year working towards. It's a rare opportunity for us.'

The junior golf clinics conducted by LPGA stars during the tournament have been a source of inspiration for aspiring players here, added Singapore Ladies Golf Association president Lam Lian Suan.

'There's much excitement when the girls get to meet their heroes and learn from them,' she said. 'The HSBC Women's Champions has left a positive impact and I hope it will return next year.'

'Every organisation... is very conscious of its bottom line, and putting on a big tournament like this is not cheap.'

DARREN FRIEDLANDER, HSBC S'pore's head of marketing, on the impact the current global economic climate may have on the local golf event



RDG Editor's notes :- We hope that ladies Golf will return to TMCC again and maybe another bank will take over....than again if another Bank took over, will things to the same? With budget cut etc, who knows we may have only one polo and cap. Every teebox only water and no sport drinks. Only thing that is certain, if HSBC Ladies Open is back in 2013, you be sure to find RDG TEAM there !