SINGAPORE BUSINESS FEDERATION AND ITS SUBSIDIARIES BUSINESS FEDERATION AND ITS SUBSIDIARIES SINGAPORE BUSINESS FEDERATION ANNUAL REPORT 2017 Collaborating to shape the business future Collaborating to shape the business future

As the apex business chamber, the Singapore Business Federation (SBF) is a nexus of collaborations between companies, governments and trade associations. Tapping on SBF’s local and global network of opportunities, companies establish ties and form alliances with the right partners for their business. These key connections empower them to shape a future of unlocked potential, unrivalled growth and unlimited possibility. SINGAPORE BUSINESS FEDERATION AND ITS SUBSIDIARIES SINGAPORE BUSINESS FEDERATION AND ITS SUBSIDIARIES

1. Our Beginnings, Vision and Mission 2 contentS 2. Chairman’s Message 4 3. 2017 – Year in Review 6 3.1 Key Initiatives and Events 6 3.2 Key Figures/Statistics 8 3.3 An Advocate for Businesses 12 3.4 A Gateway to Opportunities 20 3.5 A Believer in Capabilities 30 3.6 An Avenue for CSR and Sustainability 36

4. Federation Profile 42 Board of Trustees 42 Council Members 43 SBF Committees and SME Committee 46 SBF Secretariat 48 SINGAPORE BUSINESS FEDERATION AND ITS SUBSIDIARIES SINGAPORE BUSINESS FEDERATION AND ITS SUBSIDIARIES

Our Beginnings, Vision and Mission The SBF story

The evolving global economic and business landscape of the late Our Vision 1990s prompted the Government to establish an entity that would better organise and represent Singapore’s The apex platform promoting business community. the growth and vibrancy of the Singapore business community. With the passing of the Singapore Business Federation (SBF) Act in July 2001, all Singapore-registered Our Mission companies with a paid-up share capital of $0.5 million and above became members of SBF. The We champion the interests of Federation was officially launched by our business community in then Prime Minister Singapore and internationally, on 11 April 2002. and act as the bridge between businesses and the Government. Today, SBF represents more than 25,800 Singapore companies and key local and foreign business chambers. SINGAPORE BUSINESS FEDERATION AND ITS SUBSIDIARIES SINGAPORE BUSINESS FEDERATION AND ITS SUBSIDIARIES

needs of the business community and the government’s CHAIRMAN’S middle- to long-term initiatives to sustain growth and MESSAGE future-readiness. On 1 January 2018, the Federation repositioned itself as a growth platform with the tagline ‘Collaborating to shape the business future’, prioritising issues faced by 2017 was a significant year for the businesses as well as deepening collaborations with niche strategies and potential opportunities arising Singapore Business Federation. We Trade Associations and Chambers (TACs). from disruption caused by the digital economy and undertook a strategic review of our e-commerce. role and focus, celebrated 15 years of We launched the 31-member TAC Alliance to facilitate championing the interests of the local pooling of expertise and joint outreach activities to The third edition of the Singapore Regional Business business community, and relocated to members, as well as advocating and providing feedback Forum (SRBF) focused on opportunities along the Belt our new and permanent premises at on policies that impact businesses. and Road, with the launch of BRI Connect as an enabler SBF Center. The new office provides to streamline the implementation of BRI projects in both a better space for our members to We also announced the formation of SBF Committees China and Singapore. network, hone their capabilities and to drive deep insights into issues and make appropriate grow. representations to Government. The SBF Digitalisation Graced by President Joko Widodo and Prime Minister Lee Committee, the first of several to be set up, will drive Hsien Loong, the Singapore-Indonesia Investment Forum Singapore’s economy grew by a digital adoption. examined how companies could best capitalise on growth better-than-expected 3.5% in 2017. opportunities in Indonesia’s tourism and infrastructure Business sentiments improved, with sectors. more companies reporting better Business advocacy and expansion conditions and setting their sights on Throughout the year, SBF received 53 visiting business delegations from Asia, the Middle East, Africa and Europe. a brighter outlook in 2018. We urge In 2017, SBF maintained its strong focus on business We led business missions to Bangladesh, China, Czech companies to ride on the positive expansion, advocacy and capability building. It organised Republic, Philippines, Poland and Russia. momentum to seize opportunities, a seminar on the Committee on the Future Economy’s transform and sustain their recommendations to share the key points of the report

competitive edge in the global arena. with businesses and obtain their feedback. It also A foundation for future-readiness organised a dialogue between TACs and Government on Budget 2017 to help them leverage the measures for Growth in membership and growth. Looking ahead, our focus remains centred on our engagement members. The Federation will continue to advocate the The inaugural Future Economy Conference and interests of business with an eye on future-readiness and From a numbers perspective, the Exhibition brought together over 1,000 participants from building on our cross-border capabilities and networks. past year saw a 6.6% growth in our the business community, government agencies and TACs We will endeavour to offer more services, provide insights corporate membership base from to take a closer look at adapting Industry Transformation into pressing business issues and work closely with TACs, 24,200 to 25,800. Participation at Maps to the needs of businesses. partners and the Government to chart the course for our 387 events and activities topped sustained growth and prosperity. 74,000 and members’ satisfaction SBF and the Info-communications Media Development level remains high. Authority also entered a partnership to drive digital I would like to express my appreciation for the hard work adoption and transformation, facilitated by the SBF of our Council, advisors and members, as well as the SBF Digitalisation Committee. Secretariat led by Mr Ho Meng Kit, who all play an integral A repositioned SBF: part in the success of our work. Collaborating to shape Businesses recognise the importance of increasing their the business future international footprint, with SBF’s National Business I am encouraged and motivated to have led the Federation Survey 2017/18 indicating that 83% of businesses are in another important year for businesses, and am grateful engaged in overseas dealings, up from about 56% in for your continuing support and commitment. Amid uncertain economic conditions, 2016. More than 70% of businesses operate in at least a changing business climate and one ASEAN country, highlighting the region’s growing technology disruption, SBF carried importance as a key economic partner. out a review of its role and focus in Mr SS Teo 2017 to be a better enabler for our As a prelude to Singapore’s chairmanship of ASEAN Chairman members and the wider business in 2018, the ASEAN Conference cast the spotlight Singapore Business Federation community. Our goal was to align the on the region’s strengths and diversity, as well as Federation’s efforts with the evolving

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YEAR IN REVIEW: KEY INITIATIVES 5 1 Singapore Regional Business Forum Themed Seizing Business Opportunities through Regional Strategic Review of SBF’s Role Cooperation, the third edition of the Singapore Regional and Focus Business Forum facilitated discussions between top 6 business leaders and senior government officials from 45 countries, regarding business opportunities related to Singapore-Indonesia Following a strategic review, SBF Belt & Road Initiative (BRI) projects in Singapore, China repositioned itself on 1 January and the region. The forum also saw the launch of BRI Investment Forum 2018 as a growth platform to sense, Official Opening of SBF and Connect, which aims to bring about better connections prioritise, analyse and help resolve 2 The Singapore-Indonesia SBF Foundation Offices and facilitate the implementation of BRI projects. burning issues facing significant Investment Forum provided segments of businesses. Prompted At the official opening of its new insights into Indonesia’s economic by a volatile global environment office at SBF Center, SBF elaborated development plans, especially and the need to assist businesses on plans to become a stronger, more regarding opportunities in tourism- transform following the Committee objective, and constructive voice related sectors. Prime Minister Lee on the Future Economy’s (CFE’s) for the growth and vibrancy of our Hsien Loong and President Jokowi Report, the repositioned SBF aims business community. The event was graced the milestone event, which to better serve its members and the graced by Prime Minister Lee Hsien Inaugural Future Economy also served to commemorate 50 wider business community. years of bilateral ties between Loong and prominent members of Conference and Exhibition Singapore and Indonesia. the business community. The inaugural Future Economy 7 Conference and Exhibition in November was attended by over 1,000 participants from the business 3 community who gained insights Formation of the TAC Alliance into strengthening their capabilities and becoming future-ready. SBF and IMDA signed a Memorandum 8 As part of its repositioning, SBF also unveiled the formation of the of Intent to facilitate and identify Networking Dinner and 4 15th Anniversary Gala Dinner Trade Association and Chamber initiatives to assist the SBF Dialogue with President (TAC) Alliance. The TAC Compact, Digitalisation Committee. Halimah signed by the alliance’s 31 founding To round off its 15th anniversary members, aims to unify Singapore- celebrations, SBF held a gala dinner SBF hosted a networking dinner and based TACs as strategic partners and at which Guest-of-Honour former dialogue on 3 November attended collaborators to further the interests President Dr called for by 400 business representatives and of members and the business more active collaboration among 25 local and foreign TACs, where community. business communities, particularly President Halimah Yacob shared from business leaders. A highlight of her views on the role of businesses the event was the SBF Appreciation in supporting social causes and Awards, which honoured individuals growing Singapore’s economy. for their sustained and exceptional service and contributions to SBF.

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KEY FIGURES AND STATISTICS Incoming Delegations

TA OT L NUMBER OF PARTICIPANTS ENGAGED 7 6 31 MIDDLE EAST asIa 73,093 eurOpe Egypt, Iran, Kuwait, Bangladesh, Cambodia, China, Albania, Estonia, France, Oman, Qatar, UAE Hong Kong, India, Indonesia, Japan, Hungary, Poland, Turkey, Korea, Malaysia, Mongolia, Myanmar, MEMBERSHIP United Kingdom 25,832 Philippines, Sri Lanka, Vietnam

25,322 with 510 Associate/ Constituent Members

TOTAL NUMBER OF PARTICIPANTS ENGAGED IN OUR NETWORKING, CAPACITY BUILDING AND OVERSEAS BUSINESS EXPANSION ACTIVITIES 23,393

TOTAL NUMBER OF PARTNERS, ASSOCIATES AND SPONSORS ENGAGED AND ASSISTED 373

TA OT L NUMBER OF ACTIVITIES 387

TA OT L NUMBER OF INCOMING DELEGATIONS 4 53 AMERICAS Argentina, Canada, TOTAL NUMBER OF Chile, Costa Rica OUTGOING MISSIONS 5 22 AFRICA Ethiopia, Guinea, Mauritius, Nigeria, Sudan

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MEMBERSHIP PROFILE

Share Capital of SBF Members Industry Profile of SBF Members by Singapore Standard Industrial Classification (SSIC)

$10m & above Logistics & 20.95% Banking & $5m to less than $10m Transportation 5,306 Insurance 1,412 2,156 1,298 Administrative and 5.58% 5.13% Support Service Activities IT & Related Services 1,155 4.56% 1,302 5.14% Retail Trade 878 Construction and 3.47% Civil Engineering Hotels, Restaurants Other Service Activities 2,137 & Accommodations 8.51% 41.36% 8.44% 629 347 2.48% 1.37%

Real Estate Activities

Professional 728 Services 2.87% Others: - Agriculture and Fishing 2,182 Health and - Mining and Quarrying 8.62% Social Services - Water Supply; sewerage, waste management 205 - Public Administration and Defence 0.81% - Arts, Entertainment and Recreation, etc 341 1.35% 29.17% $1m to less than $5m Manufacturing (e.g. Education 10,474 Food, Textiles, Paper products, Chemicals, 241 Metals, etc) 0.95% 3,268 12.91% Wholesale Trade

Other Financial and Insurance 5,584 Activities (e.g. holding/ 22.05% investment companies) $0.5m to less than $1m 3,615 7,386 14.28%

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AN ADVOCATE FOR BUSINESSES

With a renewed focus on promoting business growth and collaborating with trade associations and chambers to shape the future business landscape, SBF has put in place a broad range of initiatives to connect businesses with government agencies and cultivate a pro-business environment for sustainable growth. SINGAPORE BUSINESS FEDERATION AND ITS SUBSIDIARIES SINGAPORE BUSINESS FEDERATION AND ITS SUBSIDIARIES

A RENEWED SBF 15th Anniversary Gala Dinner

To round off its 15th anniversary celebrations, SBF held a gala dinner on 6 October at the Ritz-Carlton Millenia Singapore. Guest of Honour and former President of Singapore Tony Tan called for more collaboration among businesses and for business leaders to serve on SBF Committees to share ideas for Singapore’s economic future. SBF Appreciation Awards were presented to former Chairman Tony Chew and former Honorary Secretary Philip Ng for their service to SBF; while five individuals, two companies and two TACs received SBF Recognition Awards for their contributions and Former President Tony Tan at the Gala Dinner, support of SBF. Award recipients were the following: flanked by SBF Chairman SS Teo and former SBF Chairman Tony Chew. • Mr Gautam Banerjee, Vice Chairman (Since June 2011) • Mr Shabbir H. Hassanbhai, Vice Chairman (August 2003 – June 2004; June 2012 - June 2018) • Mr Lawrence Leow, Honorary Treasurer SBF’s Official Opening: Prime Minister , Minister for Trade (Since March 2014) and Industry (Industry), Mr S Iswaran, Minister in Prime Minister’s Office, Mr • Mr Bob Tan, Honorary Treasurer Chan Chun Sing, Senior Ministers of State for Trade and Industry, Ms Sim Ann and Dr Koh Poh Koon, and Senior Parliamentary Secretary, Ms Low (June 2008 – March 2014) Yen Ling, together with SBF’s Board of Trustees, Council, as well as SBF • Dr Robert Yap, Vice Chairman Foundation’s Board members and founding donors. Prime Minister Lee Hsien Loong at the Official Opening. (November 2011– June 2014) • DBS Bank Ltd • Olam International Ltd Strategic Review of SBF’s Official Opening of SBF Formation of the TAC Alliance • Singapore Hotel Association • Singapore Indian Chamber of Commerce and Industry Role and Focus and SBFF Offices Another milestone event that Amid a volatile economic Held in conjunction with its 15th coincided with the opening of SBF’s environment, disruption in business anniversary, the official opening of offices was the formation of the SBF CEO Ho Meng Kit addressing the audience. and markets, and the need to assist SBF’s new premises at SBF Center TAC Alliance. 31 TACs and business our businesses to transform, SBF on 5 September was graced by groups signed a Compact to form undertook a strategic review of Prime Minister Lee Hsien Loong the Alliance, which will facilitate its role and focus to better serve and Minister for Trade and Industry strategic partnerships and joint members and the wider business (Industry), Mr S Iswaran. Some outreach activities to members, community. Re-positioned on 1 150 guests – comprising business as well as advocate and provide January 2018 as a growth platform leaders, corporate members, feedback on policies that impact for businesses, SBF’s focus will be SBF’s Board of Trustees and SBF businesses. to prioritise and help companies Foundation board members – build sustainability and vibrancy. attended the event. The re-positioning is underpinned by two key themes – working more closely with Trade Associations and Chambers (TACs) as strategic partners to be a stronger enabler of the business community, and Commemorating 15 years of advocating the interests of the Singapore SBF Chairman SS Teo speaking at the 15th AGM. the importance of business leaders business community. coming forward to serve on SBF Annual General Meeting Committees to help resolve burning issues that impact significant Held for the first time at SBF’s new premises, the 15th Annual General Meeting on 28 June was segments of business. led by Chairman SS Teo and attended by 191 authorised representatives, including 13 council members. Members were updated on key highlights of the past year and received the 2016 Annual Report and Financial Report.

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BUDGET 2017 DIALOGUES

Dialogue with DPM Tharman Shanmugaratnam

In an informal closed-door session on 2 February, 38 key leaders of the business community SMEC Recommendations for engaged DPM Tharman Shanmugaratnam on social and economic issues, seeking his views on Budget 2017 matters such as manpower, innovation, SkillsFuture, free trade and economic transformation.

The SBF-led SME Committee (SMEC) submitted its recommendations for Singapore Budget 2017 to the Government on 30 December 2016. The recommendations focused on developing SMEs as Singapore’s third growth engine, as well as providing broad-based support to struggling SMEs due to the protracted period of low growth. Eight of the recommendations were referenced in the Budget Statement, including the setting up of the Global Innovation Alliance, easier access to technology and intellectual SBF CEO Ho Meng Kit fielding questions from participants. property (IP) for SMEs, and holding back the planned increase in foreign Briefing on Budget 2017 DPM Tharman Shanmugaratnam interacting with business leaders DPM Tharman and Chairman SS Teo engaging business leaders during over lunch. the dialogue session. worker levies in the Marine and for TACs Process sectors. Seminar and Dialogue on the Committee on the Following the release of the Future Economy’s (CFE’s) Recommendations Budget, some 140 management representatives from 50 TACs attended the SBF-organised briefing Shortly after the release of the Committee on the Future on 28 February to gain a clearer Economy’s (CFE) recommendations, a seminar was understanding of Budget measures organised to brief some 300 members of the business and examine implications for community on key points of the report. Participants businesses and TACs. SBF CEO Ho also engaged in a dialogue with Minister S Iswaran and Meng Kit chaired the briefing, while members of the CFE on the recommendations. Panellists fielded questions on venturing overseas, embracing representatives from MOF, MTI, Participants gained a better understanding IMDA and SPRING elaborated on key of Budget 2017 measures and implications innovation and disruption, collaboration between large initiatives and addressed industry for businesses. and small companies, and help for businesses to tide concerns during the Q&A session. over the challenges of economic restructuring and a Seminar on Budget 2017 for slowing global economy. Businesses

Media conference on SMEC Budget Recommendations on 4 January. Some 800 C-suite and finance professionals from the business community attended the seminar on 8 March for a better understanding of key Budget measures and Panellists fielding questions at the Seminar on CFE’s Recommendations. initiatives. The event featured a panel discussion – with representatives from EDB, IE Singapore, IMDA, SPRING, RSM and DBS – who shared insights into leveraging Budget 2017’s measures for growth.

The audience listening intently to the panel discussion.

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Offshore & Marine (O&M) Industry Roundtables Networking Dinner and Dialogue with President Halimah Yacob In response to the Offshore & Marine (O&M) sector’s downturn arising from persistently low oil prices and consequently low demand for services, SBF called for an industry roundtable in With the support of 400 business representatives and 25 September 2016 involving O&M companies, industry experts, TACs, banks, and government local and foreign TACs, SBF hosted a networking dinner agencies including MTI, MPA, EDB, IE Singapore and SPRING. Two more roundtables followed and dialogue on 3 November at which President Halimah in March and September 2017 with business leaders to raise concerns and suggestions, and Yacob shared her views on the role of businesses in give feedback on the situation. Both IE Singapore’s Internationalisation Finance Scheme and supporting social causes and growing Singapore’s SPRING’s Bridging Loan saw healthy interest. The roundtables also discussed equity financing economy. SBF Chairman SS Teo also reaffirmed the and government support for manpower issues. Following the roundtables, the Government support of the business community and wished the introduced specific schemes to assist the O&M sector. President a fruitful term in office.

Dialogue with Minister Lim Swee Say

Some 38 TACs and 1,000 CEOs and senior executives engaged Minister for Manpower Lim Swee Say in a dialogue on 15 March, organised by SBF and SNEF with the support of MOM and Workforce Singapore. Topics included the 2017 Budget and Committee of Supply debates in Parliament.

Some 1,000 participants from 38 TACs attended the event. President Halimah Yacob meeting with business leaders. Networking dinner with some 400 representatives from the Singapore business community.

President Halimah Yacob and Chairman SS Teo exchanging views at the Dialogue. Minister Lim Swee Say fielding questions from participants.

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A Gateway to Opportunities

SBF facilitates business networking and exchanges in pursuit of growth opportunities for local businesses to extend their global footprint. SINGAPORE BUSINESS FEDERATION AND ITS SUBSIDIARIES SINGAPORE BUSINESS FEDERATION AND ITS SUBSIDIARIES

AMERICAS, EUROPE, Singapore-Hungary Business Forum Jointly organised by SBF, the Hungarian National Trading House and IE Singapore, this forum MIDDLE EAST, AFRICA was held in conjunction with the visit of Prime Minister of Hungary Viktor Orban, along with a 100-strong delegation of representatives from industries spanning agriculture and food, AND SOUTH ASIA construction and engineering services, consultation and services, machinery and ICT. Four MOUs were inked at the Forum, which will avail platforms for bilateral trade, investment, and areas for collaboration between the two countries. Delegates with former President Tony Tan and Minister S Iswaran in Warsaw, Poland.

Singapore-Turkey Business Forum President Trump in Office: What Can Singapore SBF, IE Singapore and the Turkish Businesses Expect? Foreign Economic Relations Board organised the Singapore-Turkey Business Forum in conjunction with Organised by SBF and the MOU Signing Ceremony between Singapore’s the visit of Turkish Prime Minister American Chamber of Commerce Napier Healthcare and Czech wellness Binali Yıldırım. The forum provided in Singapore, the forum apprised organisation, Royal Spa, witnessed by S Iswaran, updates on the Turkish economy over 150 members of current Minister of Trade and Industry (Industry) of and examined emerging sectorial developments in the US and their Singapore, H.E. Pavel Bělobrádek, Deputy Prime opportunities. impact on businesses, including Minister for Science, Research and Innovation of the Czech Republic and H.E. Vladimír Bärtl, potential changes in US trade Deputy Minister of Industry and Trade of the The Turkey-Singapore FTA ratified policies and engagements with MOU Signing Ceremony between SBF and the Hungarian Chamber of MOU Signatories with Minister for Trade and Industry (Trade) Lim Hng Czech Republic. during the forum will reduce barriers Singapore. Held on the day Commerce and Industry witnessed by Minister for Trade and Industry Kiang and Prime Minister of Hungary H.E. Viktor Orban. to trade and investment, increasing of President Donald Trump’s Business Mission to Poland and (Trade) Lim Hng Kiang and Prime Minister of Hungary H.E. Viktor Orban. connectivity and opportunities for inauguration, the forum was Czech Republic Singapore companies to participate helmed by Ambassador-at-Large Business Mission to Russia in Turkey’s ‘Vision 2023’ projects in Tommy Koh and featured a panel In conjunction with President Tony the areas of aviation, finance, higher of expert speakers from the private Tan’s state visit, SBF and International SBF and IE Singapore led a business mission from 16 to 21 October to Moscow and St Petersburg. Graced by DPM education, ports, infrastructure, sector. President Trump’s new Enterprise (IE) Singapore jointly led Tharman Shanmugaratnam and First Deputy Prime Minister Igor Shuvalov, the Russia-Singapore Business Forum healthcare, urban solutions, tourism trade policies and engagement in a business mission to Poland and enabled the delegation to network with their Russian counterparts and identify potential customers and partners. and hospitality. Asia are highly significant to the the Czech Republic from 21 to 26 business community, the US being May, providing companies with a Singapore and the Eurasian Economic Union (EAEU) are completing a joint feasibility study to facilitate talks on a Free Singapore’s third-largest trading first-hand understanding of market Trade Agreement to boost connectivity and reduce barriers to trade and investment. The EAEU comprises Armenia, partner. dynamics and collaborative sectors. Belarus, Kazakhstan, Krygyzstan and Russia. SBF inked two Memorandums of Understanding (MOU) to promote business exchanges between the two countries.

President of Poland Andrzej Duda and President Tony Tan graced the Group photo with PM Yildirim and Minister Iswaran. Poland-Singapore Business Forum on 22 May, while Minister for Trade and Industry (Industry) S Iswaran and Vladimír Bärtl, Deputy Minister of Industry and Trade of the Czech Republic, attended the Czech- Singapore Trade and Investment Ambassador-at-Large Tommy Koh speaking Forum on 24 May. at the Forum. Delegation with Senior Minister of State (SMS) Koh Poh Koon in Moscow, DPM Tharman giving his opening address at the RSBF 2017. Russia. H.E. Binali Yıldırım, Prime Minister of the Republic of Turkey; Minister of Trade & Industry (Industry) S Iswaran, and SBF CEO Ho Meng Kit.

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Seminar on “Iran & the Trump Administration: What Does it Mean for Singapore Companies?” Business Mission to Bangladesh

Held at the height of Iran-US tensions following President Trump’s election, the SBF-organised seminar sought to give SBF’s inaugural business mission to Bangladesh was Singapore companies a better understanding of the developments and their corresponding impacts on industries, jointly organised with IE Singapore, the Singapore given the uncertainty in place. The seminar, which was attended by some 120 company representatives, also explored Indian Chamber of Commerce and Industry and how Singapore could best approach doing business with Iran. Bangladesh Business Chamber of Singapore, visiting the capital city of Dhaka, and port city Chittagong. NTU-SBF Centre for African Studies Qatar – Singapore The delegation comprised 38 delegates from 32 Economic Forum Singapore companies, hailing from the sectors of Into its second full year of operations, the NTU SBF energy; shipping and logistics; general trading; Centre for African Studies has made significant The Forum was jointly organised by SBF, manufacturing; infrastructure; building and progress in shaping the Singapore business the Qatar Embassy in Singapore, Qatar construction; ICT and professional services. community’s perceptions of Africa as an investment Chamber and the Qatar Ministry of destination. Economy and Commerce, in conjunction A Bangladesh – Singapore Business Forum was with the official visit of H.H. Sheikh organised during the visit, and graced by H.E. Amir Under its flagship African Angle Breakfast Series Tamin bin Hamad Al-Thani, Emir of the Hossain Amu, Minister for Industries. It was attended and Visiting Research Fellowship Series, the Centre State of Qatar. He was accompanied by by some 150 business representatives, who witnessed has actively engaged Singapore companies on both a high-level delegation of private and the signing of two MOUS: SBF and the Bangladesh sector-specific broader-based events and activities public sector representatives, including Investment Development Authority, and SBF and the this past year, providing them with targeted, on- Qatari Diar, Katara Hospitality and Qatar Federation of Bangladesh Chambers of Commerce the-ground insights across markets in the African Airways. and Industry, which will further facilitate the exchange continent. It launched its first ever workshop for of business and investments between the two Panellists (from left): Mattia Tomba of MEI, NUS; G. Jayakrishnan of Singapore companies on conducting due diligence in International Enterprise Singapore; H.E. Ong Keng Yong, Singapore’s The Forum received some 395 attendees, countries. the Sub-Saharan Africa markets and business models Ambassador to Iran; Shabbir Hassanbhai, Vice Chairman of SBF; H.E. the largest for the Middle East and North to tap. The Centre also helped strategically place the Javad Ansari, Iran’s Ambassador to Singapore; and Mohammad Reza Africa market in SBF’s 15-year history. spotlight on Africa in the wider context of China’s Belt Allahverdi of Elite Elements Pte Ltd Four MOUs were inked, of which one and Road Initiative, which has been closely watched was the renewal of ties between SBF by the Singapore business community. Business Mission to Nigeria and its counterpart, the Qatar Chamber, while the other three were commercial SBF and IE Singapore’s 4th business mission to Nigeria was organised in in nature. Attendees were updated conjunction with SMS for Trade and Industry Koh Poh Koon’s visit to the on Qatar’s economy and business country. The mission, which involved 19 participants from 15 Singapore conditions, as well as insights into companies, focused on three tracks – construction, materials, hospitality, new sectoral opportunities that have master planning; oil & gas and food. Attendees gained a better emerged as part of its drive towards understanding of the Nigerian market and walked away more optimistic greater economic diversification and self- and prepared for market challenges to come. sufficiency.

Several delegates arranged for follow-up visits post-mission, with Mr S.S.Teo, Chairman of SBF delivering the Opening Address at the S$150,000 worth of sales under negotiation and S$13.6 million in total Bangladesh-Singapore Business Forum in Dhaka. sales expected over the next 12 months.

Delegation members participating in a dialogue at the Chittagong Chamber of Commerce. Mission delegates with SMS Koh Poh Koon. Prior to the Forum, Singapore companies with interests in Qatar participated in a closed-door dialogue with H.E. Sheikh Ahmed bin Jassim bin Mohammed Al-Thani, Minister of Economy and Commerce, and Mr S. Iswaran, Minister of Trade and Industry.

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ASEAN

ASEAN Conference 2017 Singapore-Indonesia Overseas Market Workshop on Myanmar’s Investment Forum Construction Sector Themed ‘The Next Economic Force’, this conference examined In partnership with EDB, IE SBF collaborated with BCA to present insights into diversity and niche strategies for Singapore, Embassy of the Republic Myanmar’s construction sector. Participants from 38 the ASEAN region, and identified of Indonesia in Singapore, Badan companies attended the workshop in Myanmar, which potential opportunities in the digital Kooridnasi Penanaman Modal included a visit to Thilawa Special Economic Zone, economy and e-commerce. Over 480 (BKPM) and Kamar Dagang dan briefings by Shwe Taung Group and Keppel Land, participants, including government Industri (KADIN), the Forum aimed networking sessions and customised business matching officials and business leaders from to understand Indonesia’s vision sessions. Since 2012, SBF has organised several major top multinational brands and high to develop earmarked cities – market development activities in Myanmar, including five growth companies, gained insights Lake Toba, Tanjung Kelayang, business missions and four major industry trade shows, RISING50 Networking Dinner, which was held during the mission. into navigating the region and Tanjung Lesung, Kepulauan Seribu, to help Singapore companies seize growth opportunities Business Mission to Jakarta seizing opportunities in ASEAN. Borobudur, Bromo Tengger Semeru, there. Notable guests included Minister for Sharing by panellists at Digitize ASEAN. Mandalika, Labuan Bajo, Wakatobi Trade and Industry (Trade) Lim Hng and Morotai – into the next 10 Balis. SBF Chairman SS Teo helmed the mission from 24 to 28 Kiang, Philippines Trade Secretary Some 670 participants received July to BKPM, Jakpro, and the Ministry of State-owned Ramon Lopez and Deputy Chairman insights into Indonesia’s economic Enterprises in Jakarta. Apart from directly connecting for Investment Promotion at the development plans, especially Singapore companies to Indonesian government Indonesia Investment Coordinating regarding opportunities in the agencies and key property developers, the mission Board (BKPM) Himawan Hariyoga. tourism-related sectors. Prime aimed to gain insights into the business environment Minister Lee Hsien Loong and and investment opportunities in infrastructure projects. President Jokowi graced the event, Participants also visited key developers such as Keppel in commemoration of 50 years of Land, PT Acset Indonusa, Ascendas-Singbridge, CS bilateral ties between Singapore and Land and CFLD to understand ground sentiments and Indonesia. collaboration opportunities. Q&A session during the conference.

Digitize ASEAN Business Mission to Manila and Davao City

With ASEAN member states Participants attending the overseas market workshop. A key activity of the Philippines-Singapore Business pursuing their digital agendas, Council, the mission was organised from 1 to 4 July by Digitize ASEAN assembled key SBF, IE Singapore and the Philippine Trade & Investment players from the digital economy Centre in Singapore. Delegates received a better and government sectors to comment understanding of the latest policy developments in the on business trends and challenges, Philippines, as well as opportunities to network with (L – R): UOB Deputy Chairman and CEO, Wee government officials and business leaders. Ee Cheong, Former SBF Chairman Tony Chew, giving a broader perspective on the Minister Lim Hng Kiang, Philippines Trade evolving ASEAN digital landscape. Secretary Ramon Lopez and Robert Yap with Supported by the ASEAN Business conference delegates. Advisory Council and the ASEAN Studies Centre of the Institute Prime Minister Lee Hsien Loong and President of Southeast Asian Studies, the Jokowi graced the Forum, which examined conference examined digital giants opportunities in the tourism-related sectors. in ASEAN and featured the sharing of challenges and successes by e-commerce players. Mission delegates on site visit to Shwe Taung Group, among the largest Myanmar conglomerates. Courtesy call on the mayor’s office in Davao. Vietnam-Singapore Friendship Exchange, Trade and Investment Connection

Panel discussion with senior representatives from Baidu, Linkedin, Jing King, and Shiseido. On 10 March, some 140 participants received insights into investment and networking opportunities with high-level business delegates. The event was supported by the Vietnam Singapore Friendship Association, Vietnam Businessman Club, Vietnam Association of Small and Medium Enterprises, and the Vietnam Embassy in Singapore.

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CHINA AND NORTH ASIA 1st Singapore-China Business Council Meeting and Singapore-China Trade Investment Forum Singapore Regional Business Forum The first meeting between the Singapore-China The third edition of the Forum returned on 15 August Business Council (SCBC) and the Singapore-China Trade with the theme ‘Seizing Business Opportunities through Investment Forum (SCTIF) was held on 13 November, Regional Cooperation’. Some 600 top business leaders in conjunction with the incoming delegation of China and senior government officials from 45 countries and Council for the Promotion for International Trade regions came together to discuss business opportunities (CCPIT). The meeting marked a dynamic phase of closer Singapore and China collaboration to map strategies, The MOU renewal was signed between SBF and CCPIT to intensify co- related to Belt & Road Initiative (BRI) projects. Minister operation and partnership. for National Development & Second Minister for Finance, particularly in relation to working as catalysts and Mr Lawrence Wong graced the event as Guest-of- partners on the Belt and Road Initiative. Honour, emphasizing the importance of infrastructure 8th Asian Business Summit projects over the next decade, which will put Singapore’s The SCBC meeting enabled senior business leaders to Minister for National Development & Second Minister for Finance Mr economy on a much stronger footing. Special Guest discuss key issues and enhance cooperation between Lawrence Wong graced the event as Guest-of-Honour. Jointly organised by Keidanren and the Speaker and Secretary of Finance, Republic of the Singapore and China business communities of all fields, Federation of Korean Industries from 24 to Philippines, Carlos Dominguez III, urged SEA countries particularly BRI infrastructure development. Meanwhile, 25 July, this summit facilitated the extensive to strengthen business partnerships to enjoy the region’s SCTIF facilitated the sharing of insights into regional discussions on major economy challenges robust growth. Keynote speaker Justin Yifu , Former connectivity, infrastructure, investment, and financial between top business leaders from ten Asian Vice President and Chief Economist of World Bank, opportunities along the 21st Century Maritime Silk Road. economies. The talks concurred that greater Vice President of ACFIC, shared insights on the latest collaboration, integration and communication BRI developments and opportunities for the business between industries are imperative to more communities. competitiveness and innovation. Discussions also identified promising growth sectors to tap on. Highlights of the forum included the launch of the Belt & Road English Digital Portal and the release of the inaugural regional business survey on progress perceptions of the BRI. Participants also witnessed the launch of BRI Connect, which aims to connect parties interested in BRI projects and facilitate the implementation of BRI projects in Singapore, China and countries along the Belt and Road. SBF and SPH jointly launched the English version of the Belt & Road Digital Portal.

Business leaders from 10 Asian economies attended the 8th Senior Parliamentary Secretary, Ministry of Education and Ministry of Trade ABS, discussing major challenges faced by businesses. 14th China-ASEAN Expo (CAEXPO) and China-ASEAN Business and Investment Summit (CABIS) & Industry, Ms Low Yen Ling speaking at SCTIF.

Held from 12 to 15 September, the 14th CAEXPO promoted Singapore as a valuable connector in partnering Chinese enterprises to navigate ASEAN and international markets. Activities such as the Singapore National Pavilion, Commercial Pavilion and Singapore Day Seminar highlighted Singapore as a modern and livable city with expertise in various 2017 Korean Franchise Business Matching (K-Franchise Showcase) sectors. The Singapore-Guangxi Networking Dinner and site visit to Qinzhou enabled participants to network with local government officials and business leaders. The jointly organised SBF and the Korea Trade Investment Promotion Agency event on 5 July brought seven Korean franchise brands – from food and beverages, to kids’ products and aesthetics – to Singapore. The outcome was the arrangement of 70 business-matching sessions, with most of the Korean and Singaporean business representatives managing to find collaboration opportunities after the event.

The Singapore National Pavilion. SMS for National Development & Trade and Industry Koh Poh Koon touring the Singapore pavilions at CAEXPO. Business matching sessions conducted during the showcase.

29 A Believer in Capabilities and Services SBF hosts talks, conventions and exhibitions and works with partners to provide services to assist businesses big and small to keep up with the latest innovations and developments to boost their capabilities and gear up for the future economy. SINGAPORE BUSINESS FEDERATION AND ITS SUBSIDIARIES SINGAPORE BUSINESS FEDERATION AND ITS SUBSIDIARIES

CAPACITY BUILDING

ACTIVITIES Singapore Productivity Awards Gala Dinner Family Business Forum 2017 Future Economy Conference The 2017 edition honoured 10 companies from across and Exhibition 2017 six sectors – construction, F&B, hospitality, infocomm, The Forum, which focused on logistics and manufacturing – to recognise them for ‘Managing Change in Today’s On 1 and 2 November, SBF their exemplary efforts in achieving greater productivity. Uncertain Environment’, saw partnered government agencies – The recipients of the 2017 Singapore Productivity leaders of family businesses from MTI, IE, IMDA, SPRING, WSG – and Awards were Hua Siah Construction Pte Ltd, Teambuild diverse industries share various 24 TACs to organise the inaugural Engineering & Construction Pte Ltd, Dian Xiao Er, Marina challenges and strategies for staying Future Economy Conference and Bay Sands, Park Avenue Rochester Hotel & Suites, EGIS competitive and achieving success Exhibition at the Marina Bay Sands Healthcare Technologies Pte Ltd, Info-Tech Systems amid unpredictable economic Convention Centre. Through the Integrators Pte Ltd, Elite International Logistics Singapore Winners of Singapore Productivity Awards 2017. conditions. During the plenary event, companies gained insights Pte Ltd, LHT Holdings Limited and Micro-Mechanics. sessions, business leaders discussed on how to leverage the 23 Industry the importance of embracing change SMS Sim Ann (in green) with business panel Transformation Maps (ITMs) across while preserving family values, even members (from left) Ho Meng Kit, Audrey Yap, six sectors to strengthen their as the next generation of successors Lawrence Leow, Melvin Tan, Susan Chong, Kurt capabilities and become future- Wee and Lau Tai San. focus on the roles of technology ready. Consultation clinics allowed and innovation in helping their businesses to consult government SME Convention 2017 businesses transform. agencies and industry associations Mentorship for Accelerating Productivity (MAP) in detail on specific ITMs and Themed ‘Opportunities in 2018’, the support schemes available. Launched in 2015, Mentorship for Accelerating the SME Convention brought Attended by 1,924 participants, Productivity (MAP) is an ongoing programme which together 500 participants to the event witnessed the signing of imparts productivity concepts, tools and techniques in examine strategies for growth a Memorandum of Intent between order to build lean enterprises. With 70–90% of fees Minister for Manpower Lim Swee Say addressing the audience. through digitalisation and IMDA and SBF that will facilitate subsidised by WSG, companies are required to nominate internationalisation. IE Singapore the collaboration of both parties staff to be trained as Productivity Champions and presented its Tariff Finder platform, on strategic projects under the implement a productivity improvement project facilitated which compiles the tariff measures of newly formed SBF Digitalisation Government Procurement LEAD Project by a coach-mentor. Over 20 companies and projects Singapore’s 23 FTAs. The Convention Committee. have signed on to date. saw the release of the findings of With funding from SPRING’s Local Enterprise and Panel discussion on ‘Transformation for Growth’ at the Family Business Forum. an SBF-NUS Survey on Government Association Development (LEAD) programme, this Procurement, as well as the SBF- 27-month project involved surveys, focus groups, fairs, led SME Committee’s (SMEC’s) and the putting together of a best practice guide so ‘Government Procurement: A Best that SMEs can be in a better position to participate in Practices Guide’, which will help government procurement projects. Fairs and workshops SMEs better access government were organised to educate over 1,700 SME participants procurement projects. Guest-of- on the opportunities, processes and requirements in Honour and Senior Minister of State government procurement. for Trade and Industry, Ms Sim Ann participated in a panel discussion Discussion amongst participants during the two-day Champion Training which solicited and validated Guest of Honour and Minister for Finance, Mr course. feedback on SMEC’s Budget 2018 Heng Swee Keat presenting the Ministerial recommendations. Keynote Address.

The NUS research team with SBF SME Committee’s Government Procurement Working Group members.

Signing of the Memorandum of Intent between IMDA and SBF. 33 SINGAPORE BUSINESS FEDERATION AND ITS SUBSIDIARIES SINGAPORE BUSINESS FEDERATION AND ITS SUBSIDIARIES

Introduction to Singapore’s FTAs for the In Conversation & Leadership Roundtables Strengthening Enterprise Secretariats of Trade Associations & Chambers Capabilities Through (TACs) Some 150 companies attended and benefited from the In Conversation and Leadership Roundtable series Intellectual Property As part of SBF’s FTA education and outreach initiative, of talks held throughout the year. Prominent business this workshop aimed to raise awareness and promote leaders from across the business community were invited As a follow-up to the Community the utilisation of FTAs. Participants acquired basic to share on topics such as growth strategies, innovation on the Future Economy’s knowledge on Singapore’s FTA network and how it concepts, and driving corporate performance in a recommendations, SBF partnered benefits companies and overseas trade. manpower-lean landscape. the Intellectual Property Office of Singapore (IPOS) to help local enterprises create and use SBF-UPS Customs and Trade Facilitation Seminar Intellectual Property (IP) as a strategic advantage. This three-year Part of SBF’s FTA outreach initiative, this seminar was titled ‘Cross-Border Growth Opportunities for Small Businesses collaboration was formalised in the in Asia’ and focused on the trade facilitation provisions in Singapore’s FTAs. Guest speakers from UPS and EY offered signing of a MoU on World IP Day, tips to some 110 participants on improving processes and overcoming the challenges of cross-border trade. 26 April. The two organisations also organised a dialogue titled ‘Strengthening Enterprise Capabilities to Innovate and Scale ADVISORY COUNCIL ON Up Through IP’, where some 40 At the MoU signing for PCP SEA. SBF members benefited from the COMMUNITY RELATIONS IN sharing by CEOs of local and foreign National Security Conference Signing of MoU for companies on strategies for growth 2017 Professional Conversion DEFENCE (ACCORD) through the use of IP. Programme Southeast Asia A firm believer in contributing to Singapore’s national security, SBF works in partnership with ACCORD to engage The 11th edition of National Security Ready Talent employers, businesses, trade associations, educational institutions, the community and families in support of National Building a Data Protection Conference was graced by Mr Teo Service and the contributions of our NSmen. One of the initiatives to commemorate NS50 was for employers to Ecosystem Chee Hean, Deputy Prime Minister On 6 September, SBF and IE encourage their NSmen employees to wear their military uniforms to work on SAF Day on 30 June 2017. & Coordinating Minister for National Singapore signed a Memorandum In conjunction with Privacy Security, focusing on companies’ of Understanding (MoU) on SBF Chairman, Mr S.S. Teo and SBF Council Members Mr Douglas Foo, Mr Kurt Wee, Mr Shamir Rahim, Mr Dwight Awareness Week, SBF and preparedness against terror attacks collaboration for the Professional Hutchins, Mr Thomas Chua (alumni), Mr Loh Chin Hua (alumni), Mr Yeoh Oon Jin (alumni), and Mr Rolf Gerber the Personal Data Protection as a follow-up from the SG Secure Conversion Programme Southeast contribute to the ACCORD Committee’s work. Commission organised a breakfast launch in September 2016. The Asia Ready Talent (PCP SEA) talk on 4 May by Commissioner of Conference saw the launch of the witnessed by Mr S Iswaran, Minister Personal Data Protection Tan Kiat SGSecure Guide for Workplaces for Trade and Industry (Industry). How. Commissioner Tan shared with and was attended by some 520 The programme is supported INTERNATIONAL CHAMBER the audience of C-level executives participants. A conference highlight by IE Singapore and Workforce plans to construct a Data Protection featured an exhibition of security- Singapore, aiming to develop a core OF COMMERCE & DISPUTE Ecosystem in Singapore and train related solutions available for pool of Singaporeans or PRs with Data Protection Officers to adopt companies and Trade Associations market-ready skills for Southeast RESOLUTION responsible personal data measures and Chambers. Asian markets in the wholesale in their companies. trade sector. This MoU provides the framework for collaboration and International Chamber of Dispute Resolution establishes the scope of partnership Commerce (ICC) Building Manpower Capability to Enhance towards growing capabilities and The following dispute resolution services are available to members through employability in Southeast Asia. Business Competitiveness for the Wholesale SBF is the National Committee SBF: Trade Sector representative of ICC and ICC Court of Arbitration, Singapore International Arbitration Centre, supports its initiatives including Singapore International Mediation Centre and Singapore Mediation Centre. Held on 27 October at Suntec Singapore, this seminar the organization of local and was jointly organised by SBF, IE Singapore, WSG, SNEF regional workshops, seminars and SMU-ITI to address trends in the wholesale trade and conferences on key topics in sector and provide strategies for companies to stay cross-border trade and investment, competitive, including tapping on government schemes SBF Institute aims to help SBF members and the business finance and banking, the facilitation that support the recruitment, development and retention community build capabilities and achieve quality-driven of ICC arbitrations and the sale of of manpower. growth. ICC publications.

35 An Avenue for CSR and Sustainability

As a champion of corporate social responsibility and sustainable development, SBF forges valuable partnerships to bolster corporate giving and responsible business practices for an inclusive and sustainable Singapore. SINGAPORE BUSINESS FEDERATION AND ITS SUBSIDIARIES SINGAPORE BUSINESS FEDERATION AND ITS SUBSIDIARIES

SBF FOUNDATION

SBF Foundation has been envisioned to be a foundation for the business community for the community Chairman’s Foreword Inclusive Index and Trustmark of Singapore. It aims to help for PWDs Singapore’s business community give 2017 was an exciting year. Together with SBF, we moved to our new home at back to society by reaching out and SBF Center, right in the heart of Singapore’s business district. Working with SBF Foundation partnered with SG transforming the lives of Singapore’s our partners, we launched four programmes in 2017. Enable to develop this structured, less-privileged. The Foundation does holistic measurement of employers’ this by actively promoting corporate We look forward to working with SBF to champion and multiply the efforts efforts and readiness to hire and social responsibility focusing on of the business community in corporate social responsibility and corporate integrate persons with disabilities corporate giving, as well as providing giving. We also hope to promote the welfare and employability in the (PWDs), helping employers become advancement of employment workforce of the following disadvantaged persons: low wage workers, low more inclusive by identifying areas through partnerships with the income families, persons with disabilities and youths-at-risk. for improvement. business community and non-profits. We encourage members of the business community to work with us to find SBF Foundation and SG Enable ITE Nursing students in RIPAS Hospital, Brunei, solutions and opportunities for our beneficiaries. Feel free to reach out to any hope to develop the Inclusive 2017. of us on the SBF Foundation Board and Management to find out more about Trustmark with data gathered from the programmes which we support. Let us all work together to build a more the index. With 55 employers SBF Foundation–SUTD inclusive Singapore. participating since the index Scholarship launched in October, the three-year Mrs Theresa Foo programme seeks to develop more Established in 2015, the SBF Chairman, SBF Foundation sustainable employment for PWDs Foundation and Singapore University by raising capabilities of at least 300 of Technology and Design (SUTD) employers and developing 800 PWD Scholarship aims to contribute to employees. Singapore’s business community ITE Students in Denmark, 2017. Company of Good by supporting young engineering and architecture talent in their Collaboration with ITE The Company of Good programme education. The Scholarship eases was launched in 2016 by the the financial burden of tuition fees Since 2014, SBF Foundation has National Volunteer and Philanthropy for deserving students, seeking to collaborated with the Institute of Centre (NVPC) to promote corporate nurture them to becoming future Technical Education (ITE) to create giving in Singapore. Since December leaders and innovators in technology programmes that support students’ 2017, over 1,000 companies have and entrepreneurship. Scholars are learning and development. The signed on to the initiative, spurring also given internship and mentorship programmes hope to empower the continued collaboration between opportunities at SBF member students to become global leaders in SBF Foundation and NVPC to companies. Presently, 12 students their chosen fields by exposing them champion this cause. have received the Scholarship, with to global markets and international the first batch of 3 scholars set to business practices. On 7 November, the inaugural graduate by the end of 2018. Champions of Good Award SBF Foundation’s efforts are Ceremony awarded 45 enterprises estimated to have helped over 270 from large and small-medium size ITE students to date. Apart from companies for their contributions supporting 207 students in ITE’s to corporate giving and community Overseas Industrial Attachment development. Programme (OIAP), the SBFF Global The inaugural Champions of Good Awards Ceremony on 7 November. Education Programme Award also The 5-month Company of Good supported 28 students’ overseas Fellowship programme, which exchanges with nine institutes. Under involves 17 mentors from several the SBFF Training Award, 42 students companies, had two successful earned attachments to prestigious rounds in March and October French culinary school Institut Paul 2017, attracting 72 high potential Bocuse. corporate leaders who drive and influence strategic corporate giving in their organisations.

39 SINGAPORE BUSINESS FEDERATION AND ITS SUBSIDIARIES SINGAPORE BUSINESS FEDERATION AND ITS SUBSIDIARIES

GLOBAL COMPACT NETWORK SINGAPORE GCNS Summit From 29 to 30 August, 411 sustainability Global Compact aims to encourage collaboration practitioners convened at the annual GCNS between CSR stakeholders in businesses, government Summit – a conducive and collaborative and civil society to create long-lasting value for the environment for businesses to advocate, build community. Through various platforms for multi- capacity, network, and gain insights into the stakeholder engagement and collective action, the latest global corporate sustainability trends. national society aims to advance responsible business practices and Corporate Social Responsibility, supporting Singapore’s goal of becoming a sustainable nation.

Signing of an MOU for a national framework to guide companies GCNS Youth Forum 2017 on corporate sustainability and giving.

The GCNS Youth Forum, an initiative by youths and for youths, aims to promote better understanding of Singapore Apex Corporate Sustainability Awards SGX Sustainability Reporting corporate sustainability through direct involvement in Workshops planning and execution. From 21 to 23 April, youths The Singapore Apex Corporate Sustainability Awards accord aged 18 to 30 got to learn from industry experts through the most prestigious recognition to companies demonstrating GCNS organised 24 sustainability reporting dialogues, workshops, and company site visits to Hilton Sharing best practices on sustainability policies (from left): Assaad excellence in corporate sustainability, and the highest standards workshops from February to July to equip Razzouk, Group Chief Executive, Sindicatum Sustainable Resources; for companies aspiring to improve their sustainability practices. (SGX) companies Hotel, Asia Pacific Breweries, and APRIL Fine Paper Goh Swee Chen, President, GCNS and Chairman, Shell Companies in Trading. Singapore; Lim Boon Heng, Chairman, Temasek Holdings; Ho Meng Kit, A Gala Dinner was held on 8 November to acknowledge GCNS with the skills to meet SGX’s annual report Chief Executive Officer, SBF. partners and donors for their continued support towards requirements. A total of 409 participants from sustainability. 242 companies attended.

CEO Roundtable on Corporate Sustainability

Themed ‘Unlocking Business Opportunities with the SDGs’, the roundtable discussed strategies for business growth and longevity with C-suite local and regional MNCs and SMEs. Discussion topics included how to best embrace Sustainable Development Goals and capitalise on new market opportunities. SBF partnered Stewardship Asia Centre, Ecosperity and the Dutch Sustainable Growth Coalition for the event.

An initiative by youths and for youths to promote corporate sustainability. (from left): Goh Swee Chen, President, GCNS and Chairman, Shell Companies in Singapore; Wilson Ang, Executive Director, GCNS; Vivek Kumar, Assistant Director-General, NTUC; Heng Chee How, Deputy The Awards recognise organisations that have demonstrated excellence in sustainability. Secretary-General, NTUC.

GCNS–MPA Memorandum of Understanding

In support of the Maritime and Port Authority of Singapore’s (MPA) Green Initiative and Green Awareness Programme, GCNS and MPA signed a MOU at the Singapore Registry of Ships Forum to encourage the promotion of sustainable shipping in Singapore. MPA seeks to assist listed Singapore maritime companies in complying with the SGX mandatory sustainability reporting requirements through training.

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Council Members FEDERATION PROFILE *As at 31 December 2017

SBF leadership comprises a team of committed individuals coming together to serve the business community. The SBF Council manages all matters relating to SBF. The Council includes nominated, elected and co-opted representatives, with a minimum of 20 members and a maximum of 26.

Board of Trustees The three local ethnic chambers – Singapore Chinese *As at 31 December 2017 Chamber of Commerce and Industry, Singapore Indian Chamber of Commerce and Industry, and Singapore According to the SBF Act, the Board of Trustees is Malay Chamber of Commerce and Industry – have charged with ensuring that SBF fulfils its objectives and permanent representation. that its funds and assets are properly managed and safeguarded. It also ensures that Council members are fit for office.

The Ministry of Trade and Industry has appointed Fang Ai Lian as the Chairman. Theresa Foo and Tan Cheng Han are members of the Board.

Teo Siong Seng Gautam Banerjee Thomas Chua Chairman Vice Chairman Vice Chairman Managing Director, Pacific Chairman and Senior Immediate Past President, International Lines Pte Ltd Managing Director, Singapore Chinese Chamber Blackstone Singapore of Commerce & Industry

Fang Ai Lian Theresa Foo Tan Cheng Han Chairman Member Member Advisor, Far East Chairman, SBF Foundation Professor, Faculty of Law, Organization Group National University of Singapore

Shabbir H Hassanbhai Dr R Theyvendran Loh Boon Chye Vice Chairman Vice Chairman Honorary Secretary Director, Indo Straits Trading Chairman, Singapore Indian CEO, Singapore Exchange Co (Pte) Ltd & related Chamber of Commerce & companies Industry

43 SINGAPORE BUSINESS FEDERATION AND ITS SUBSIDIARIES SINGAPORE BUSINESS FEDERATION AND ITS SUBSIDIARIES

Olivia Lum Lawrence Leow Pek Lian Guan Dwight Hutchins Loh Chin Hua Meng Fanqiu Deputy Honorary Secretary Honorary Treasurer Deputy Honorary Treasurer Council Member Council Member Council Member Executive Chairman & Group Chairman & CEO, CEO, Tiong Seng Holdings Chairman, American CEO & Executive Director, President, China Enterprises CEO, Hyflux Ltd Crescendas Group Ltd Chamber of Commerce in Keppel Corporation Association (Singapore) Singapore

Achal Agarwal Janet Ang Rachel Eng Takuya Okada Stefano Poli Shamir Rahim Council Member Council Member Council Member Council Member Council Member Council Member President, Kimberly-Clark Vice President, Industry Deputy Chairman, Immediate Past President, President, European President, Singapore Malay Asia Pacific Solution Sales, IBM Asia Wong Partnership LLP Singapore Japanese Chamber of Commerce Chamber of Commerce & Pacific Chamber of Commerce & Industry Industry

Douglas Foo Gan Seow Kee Rolf Gerber Augustine Tan Andrew Tjioe Yeoh Oon Jin Council Member Council Member Council Member Council Member Council Member Council Member President, Singapore Chairman & Managing Immediate Past Chairman, President, Real Estate President Advisor, Restaurant Executive Chairman, Manufacturing Federation Director, ExxonMobil Asia Singapore International Developers’ Association of Association of Singapore PwC LLP Singapore Pacific Pte Ltd Chamber of Commerce Singapore

45 SINGAPORE BUSINESS FEDERATION AND ITS SUBSIDIARIES SINGAPORE BUSINESS FEDERATION AND ITS SUBSIDIARIES

SBF Committees SBF-led SME Committee

*As at 31 December 2017 *As at 31 December 2017

SBF COUNCIL 2016 – 2018 Advisors: Ms Sim Ann, Senior Minister of State, Ministry of Trade & Industry Committee Members Mr Teo Ser Luck, Minister of State, Ministry of Manpower Executive Committee Mr Teo Siong Seng (Chairman) Name Organisation Designation Mr Thomas Chua Chairman Ms Rachel Eng Lawrence Leow Crescendas Group Chairman & CEO Mr Shabbir Hassanbhai Vice Chairman Dr R Theyvendran Melvin Tan Cyclect Group Managing Director Members Audit Committee Mr Yeoh Oon Jin (Chairman) Teo Siong Seng Singapore Business Federation Chairman Ms Janet Ang Kurt Wee SMEC Cost of Doing Business Sub-committee Chairman Mr Gautam Banerjee Association of Small and Medium Enterprises President Mr Rolf Gerber Audrey Yap SMEC Innovation Sub-committee Chairman Yusarn Audrey Managing Partner Finance & Investment Committee Mr Lawrence Leow (Chairman) Lau Tai San SMEC Internationalisation Sub-committee Chairman Mr Achal Agarwal Singapore Chinese Chamber of Commerce and Industry Vice President Mr Loh Chin Hua Linus Goh SMEC Financing Sub-committee Chairman Mr Pek Lian Guan OCBC Bank Head, Global Commercial Mr Augustine Tan Banking Mr Andrew Tjioe Susan Chong SMEC Manpower & Productivity Sub-committee Chairman Greenpac (S) Pte Ltd CEO Member Relations Committee Ms Olivia Lum (Chairperson) Roderick Chia Singapore infocomm Technology Federation Member Mr Douglas Foo R. Dhinakaran Singapore Retailers Association President Mr Dwight Hutchins Dennis Foo Singapore Nightlife Business Association President Mr Meng Fanqiu Douglas Foo Singapore Manufacturing Federation President Mr Stefano Poli Singapore National Employers Federation Council Member Mr Shamir Rahim Casey Kesavan Singapore Indian Chamber of Commerce and Industry Council Member Mr Takuya Okada Ernie Koh Singapore Furniture Industries Council President Donna Lee Franchising and Licensing Association (Singapore) President Appointments & Remuneration Committee Mr Teo Siong Seng (Chairman) Stanley Lim Singapore Logistics Association Chairman Mr Gan Seow Kee Kenneth Loo Singapore Contractors Association Limited President Mr Loh Boon Chye Ooi Tiat Jin Singapore Chemical Industry Council Chairman, SME Committee Cynthia Phua Consultant - Nominations Committee Mr Teo Siong Seng (Chairman) Abdul Rohim Sarip Singapore Malay Chamber of Commerce and Industry Immediate Past President Mr Gautam Banerjee Saktiandi Supaat Maybank Group Executive Vice President / Mr Loh Boon Chye Regional Head of FX Research & Strategy, Global Markets, Global Banking Ricky Souw Singapore Precision Engineering and Technology Association Immediate Past Chairman Wong Sioe Hong Singapore Retailers Association Vice President

47 SINGAPORE BUSINESS FEDERATION AND ITS SUBSIDIARIES SINGAPORE BUSINESS FEDERATION AND ITS SUBSIDIARIES

SBF Secretariat GLOBAL BUSINESS China & North Asia GLOBAL BUSINESS Annie Wang Americas, Europe, Assistant Executive GLOBAL BUSINESS Middle East, Africa Director ASEAN & Global- SBF BUSINESS & South Asia Asia Hub INSTITUTE STRATEGY & DEVELOPMENT Cody Lee, Thian Tai Chew Mabel Tang Assistant Assistant Executive Director Joanne Guo, Executive Assistant Director Director Executive Director

HUMAN RESOURCE

Jessica Ng, Director

CEO OFFICE MEMBERSHIP & TAC ENGAGEMENT Ho Meng Kit CORPORATE Chief COMMUNICATIONS Chung Lai Thoe Executive CORPORATE Assistant Executive Officer Gerald De Cotta SERVICES Director Director Cheryl Kong, Assistant Executive Director

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