Mallinckrodt gains tax incentives in Singapore

The office of Mallinckrodt’s regional Asia/Pacific headquarters in Singapore has been awarded “business headquarters” status by the Singapore Economic Development Board.

Mallinckrodt’s business tax rate will be reduced to 13% from 25% for the five years of the status, said Robert Martsching, Mallinckrodt investor spokesman. The business development designation was awarded in recognition of the pharmaceutical and medical imaging company’s commitment to regional business growth.

Singapore business development officials say they hope to establish Mallinckrodt as one of the most dynamic and fastest growing healthcare companies in the Asia/Pacific region. Mallinckrodt’s regional headquarters in Singapore has 34 employees and is headed by Kin Chua, president of Mallinckrodt Asia/Pacific.

Staff members provide marketing, technical, financial, and administrative support to Mallinckrodt offices and employees throughout the Pacific Rim, including Australia, China, Hong Kong, India, Korea, Japan, and Taiwan. Mallinckrodt’s Singapore office has established a clinical education center to enhance the technical skills of providers, distributors, and employees.