WE SPEAK FOR OUR WE MEMBERS ARE SBF WE CHAMPION ENTERPRISE WE ENGAGE THE ANNUAL REPORT 2013 COMMUNITY WE LINK WE SERVE BUSINESSES WE CARE FOR AND SUPPORT SOCIETY Mission Act as the bridge between the government and businesses in Singapore to create and enhance a conducive business environment. SBF represents the business community in bilateral, regional, multilateral fora for the purpose of promoting trade expansion and business networking. Vision Apex business chamber championing the interests of the business community in Singapore in trade, investment and industrial relations. Contents ABOUT US FEDERATION PROFILE Our Beginnings, Our Objectives 01 Board of Trustees 42 2013 Facts & Figures 04 Council Members (2012-2014) 43 Chairman’s Message 06 SBF Committees 51 SBF-led SME Committee 52 YEAR IN REVIEW SBF Secretariat – Management Team 53 2013 Milestones 10 Singapore Business Federation Partners 56 Voice Representation 14 List of Activites 2013 59 Business Networking & Facilitation 21 Capacity Building 32 SBF Milestones (2002-2013) 38 ABOUT US Our Beginnings Our Objectives • In the late 1990s, amid the rapidly changing global • To enhance the organisation of the business community economic and business landscape, the government, in in Singapore. consultation and with the support of business leaders, called for a more comprehensive organisation and • To represent, advance, promote and protect, in representation of the Singapore business community. Singapore and abroad, the major business interests (such as investment, trade opportunities and labour • With the passing of the SBF Act by Parliament in July management issues) of business entities carrying on 2001, all Singapore-registered companies with a paid-up commerce and industry in Singapore. share capital of $0.5 million and above became members of the SBF. Local chambers of commerce and industry which represent the interests and welfare of any local or foreign business group(s) join as Constituent Members. • SBF was established on 1 April 2002 and officially launched by then Prime Minister Goh Chok Tong on 11 April 2002. UILDI Y B NG IT G C R A O IONS & S P U AT ER A P V C L SUPPORT BUSINESS E I C R E COMPETITIVENESS R BUILD RELATIONS S THROUGH CAPACITY E G BETWEEN BUSINESS B BUILDING R AND GOVERNMENT M O E TO ENHANCE A PRO- U P M ENTERPRISE BUSINESS ENVIRONMENT SIN BU ESS AL G B R O O L U G P ASSIST STRATEGIC STRUCTURE COMPANIES TO FOCUS TO SUPPORT ACCESS GLOBAL MISSION OPPORTUNITIES SINGAPORE BUSINESS FEDERATION Annual Report 2013 1 WE CARE FOR SOCIETY WE CHAMPION ENTERPRISE WE SERVE AND SUPPORT 2 SINGAPORE BUSINESS FEDERATION Annual Report 2013 WE ENGAGE WE THE COMMUNITY CHAMPION ENTERPRISE WE LINK BUSINESSES WE SPEAK FOR OUR MEMBERS SINGAPORE BUSINESS FEDERATION Annual Report 2013 3 2013 Facts & Figures Total number 550 of activities Total number of participants engaged74,500 Total number of in-coming 102 delegations Total number of out-going 39 missions 4 SINGAPORE BUSINESS FEDERATION Annual Report 2013 2013 Facts & Figures As of 31 December 2013, the Federation had 20,919 corporate members. $10m & above 15.12% $5m to less than $10m SHARE CAPITAL 7.00% OF SBF $1m to less than $5m MEMBERS $0.5m to less than $1m 40.56% 37.32% Oil & Gas 0.18% Hotels, Restaurants & Accommodations 2.37% Real Estate Activities 3.06% Wholesale Trade Retail Trade INDUSTRY 23.41% 3.52% PROFILE OF Manufacturing IT & Related Services SBF MEMBERS 14.97% 4.21% Others (e.g. holding/ Banking & Insurance investment companies) 4.51% 12.74% Logistics & Transportation Services 5.72% 9.60% Professional Services 6.95% Construction and Civil Engineering 8.76% SINGAPORE BUSINESS FEDERATION Annual Report 2013 5 Chairman’s Message “SBF CONTINUED TO PROACTIVELY SUPPORT MEMBERS’ EFFORTS TO INTERNATIONALISE THEIR BUSINESSES. SBF LED 39 OVERSEAS BUSINESS MISSIONS TO ASIA, AFRICA AND CENTRAL AND EASTERN EUROPE IN RESPONSE TO MEMBERS’ STRONG INTEREST TO EXPLORE THESE MARKETS.” 6 SINGAPORE BUSINESS FEDERATION Annual Report 2013 2013 was an eventful year for the Singapore Business Facilitation Agreement by WTO Members at its Ministerial Federation. Meetingn i Bali in December. We look forward to the speedy implementation of this Agreement which will increase We launched the SBF Foundation, established the NTU-SBF global trade and create more jobs benefitting businesses, Centre for African Studies and inaugurated the SBF Business governments and workers. At ASEAN and APEC, we continued Institute.e W became a more effective advocate of business. to advocate for greater regional integration of our economies to allow our Members better access to a larger and more The Federation engaged some 74,500 participants in 550 efficient market. events and activities organised and supported by SBF. These included incoming and outgoing business missions, seminars, Ast par of our efforts to help Members build capability, the SBF policy briefings, workshops and surveys. Mentorship Programme facilitated dialogue sessions between SME bosses and experienced Captains of Industries, allowing SBF continued to proactively support Members’ efforts to the sharing of valuable experience and tips for success. SBF internationalise their business. We led 39 overseas business also collaborated with partners to launch the Young Business missions to Asia, Africa and Central and Eastern Europe in Leaders Alliance to support young entrepreneurs and responseo t Members’ interests in these markets. We also business leaders. received 102 in-coming delegations from some 40 countries. These enabled our Members to make valuable contacts, The launch of the SBF Foundation by the Prime Minister in access information and help forge strong links with their November is a new milestone for SBF. It provides a platform for overseas partners. businesses to do their part in inclusive growth by promoting corporate social responsibility and corporate philanthropy. There was heightened interest in Africa, with four outgoing Many Founding Donors have contributed generously to the missions covering seven African countries and 19 incoming Foundation. I thank them again for their donations and their African missions during the year. Our market activities for Africa belief in the good works that the Foundation will do. were capped by the inaugural Africa Asia Oil & Gas Summit whiche w organised. At this Summit, the NTU-SBF Centre for Another milestone will be the opening of the permanent African Studies was inaugurated. I am very thankful to the five headquarters for SBF in late 2016. It will be located in a prime SBF Members who have donated $1 million each to help fund downtown development named the “SBF CENTER”. We are this Centre. grateful to Far East Organization, led by Mr Philip Ng, for this landmark contribution. SBF also led a business delegation to Hungary, Czech Republic and Slovak Republic in conjunction with President Tony Tan SBF has made steady progress since its founding in 2002. Keng Yam’s State visits. Another SBF mission accompanied The Federation rests on a firm footing to serve the varied needs Prime Minister Lee Hsien Loong on his official visit to France and aspirations of its 21,000 Members. I am heartened that the and Poland. level of our activities and Members’ participation have grown steadily over the years. Importantly, we are receiving more During the year, SBF made further progress as a voice of positive feedback from our Members of the benefits they have business.n I 2011, we formed the SBF-led SME Committee received. SBF is playing a more important role for Singapore to provide our SME Members with a more coordinated voice businesses, and I encourage Members to continue to support to Government. Through this Committee, the Federation the activities of the Federation to build a vibrant and resilient continued to engage Government Agencies on issues business community. relating to business costs, manpower crunch, financing and productivity. Io wish t express my deep appreciation to the Board of Trustees, my fellow Council Members, the SBF Secretariat, business Wee ar heartened that a significant proportion of the partners and you, our Members, for your commitment and 33 recommendations to the Minister for Finance by the dedication over this past year. I hope that you will continue to SBF-led SME Committee were included in Singapore support and shape the SBF in the years ahead. Budget 2013. The Singapore Government has recognised our constructive role, wide representations, good data research and careful deliberations. Internationally, SBF actively pushed for further trade and investment liberalisation. We were delighted that our Tony Chew Leong-Chee collective efforts with the international business community Chairman played a role in the successful conclusion of the Trade Singapore Business Federation SINGAPORE BUSINESS FEDERATION Annual Report 2013 7 YEAR IN REVIEW 2013 Milestones Launch of SBF Foundation Prime Minister Lee Hsien Loong launched the SBF Foundation (SBFF) on 12 November 2013. SBFF aspires to encourage a compassionate and pro-active business community, playing its part to build an inclusive Singapore. Its mission is to encourage, enable and enhance the contributions of the business community to the social, vocational and educational upliftment of all in Singapore. The Foundation was incorporated on 20 June 2013, and received its Institutions of a Public Character (IPC) status on 15 July 2013. In 2013, SBFF received $18m in donations and pledges from 24 founding donors. The SBF Foundation is governed by an independent Board of Directors chaired by Mrs Theresa Foo-Yo Mie Yoen, who is a Member of the SBF Board of Trustees and Chairman of The Esplanade Co Ltd and Gardens by the Bay. The other The Foundation, which was mooted by Mr Tony Chew, Board of Directors includes: Chairman, Singapore Business Federation, hopes to encourage businesses to become more actively involved in • Mr Peter Chay Fook Yuen, Deputy Managing Partner, community development. As the apex business chamber, KPMG LLP SBF believes it has a role to play in encouraging businesses • Mr Cheng Wai Keung, Chairman, Wing Tai Holdings to become more involved in contributing to the well-being • Ms Foo Mee Har, Member of Parliament of the Republic of society.