Excel 2007 : Nested IF Statements and string text

I am trying to write a formula to search through text of world regions in column A and write an abbreviation of the regions in column B. I have two problems. The first is there are 8 regions and nested IF statements will only work for 7 statements. The second is that even though I have written a formula for 7, it will only work for the first 3. The rest of returned with #NAME? I have been struggling for over an hour. Any suggestions?

Below is an example of what I am getting, followed by the formula I am using:

Column A -----> Column B

1EET883A - SINGAPORE PRODUCTION -----> SGP
3345DDAI - US GENERAL -------> US
IVSX225200B - THAILAND GENERAL -----> #NAME?

=IF(ISNUMBER(SEARCH("SINGAPORE",A2)),"SGP",IF(ISNUMBER(SEARCH("US",A2)),"US",IF(ISNUMBER(SEARCH("JAPAN",A2)),"JP",IF(ISNUMBR(SEARCH("CHINA",A2)),"CHINA",IF(ISNUMBER(SEARCH("THAILAND",A2)),"THAI",IF(ISNUMBER(SEARCH("MALAYSIA",A2)),"MAL",IF(ISNUMBER(SEARCH("PHILIPPINES",A2)),"PHIL", "")))))))