As the apex business chamber, the Business Federation (SBF) champions the interests of the business community in Singapore in trade, investment and industrial relations.

To help companies lay building blocks for their future, SBF advocates key issues impacting the Singapore business community, encourages them to venture overseas and helps them enhance their capabilities and boost productivity. CHAIRMAN’S KEY INITIATIVES CONTENTS 02 THE SBF STORY 04 MESSAGE 06 & EVENTS

KEY FIGURES DIALOGUE FOR ENABLING & STATISTICS PROGRESS INTERNATIONAL 08 12 20 GROWTH

STAYING PAYING IT FEDERATION 32 RELEVANT 38 FORWARD 42 PROFILE THE SBF Our Vision - To act as the bridge between the Government and Singapore’s STORY business community in creating The evolving global economic and enhancing a conducive and business landscape of the late business environment. 1990s prompted the Government to establish an entity that would Our Mission - better organise and represent To serve as the apex business Singapore’s business community. chamber championing the interests of the business With the passing of the Singapore community in Singapore in Business Federation (SBF) Act in trade, investment and industrial July 2001, all Singapore-registered relations. SBF represents the companies with a paid-up capital business community in bilateral, of $0.5 million and above became regional and multilateral members of SBF. The Federation settings for the purpose of trade was officially launched by then expansion, investments and Prime Minister on networking. 11 April 2002.

Today, SBF represents more than 24,000 Singapore companies and key local and foreign business chambers.

www.sbf.org.sg

03 and the creation of an CHAIRMAN’S innovation-centric environment Building on the Future for SMEs. SMEC also embarked Economy on its third two-year term on 1 April 2016 with new initiatives SBF will continue to build on MESSAGE including the formation of its activities and achievements. a Government Procurement We are grateful to the 73,500 Working Group which submitted participants who attended our Amid a slowing global economy recommendations to boost SME 514 activities in 2016, many of and the uncertainty over Brexit participation in government whom indicated satisfaction and the US Presidential Election, procurement. with SBF’s support and services. the Singapore economy posted I am also pleased to report that better than forecasted growth of In September, SBF initiated a corporate membership increased 2% for 2016. However, business closed-door dialogue between by 7.5% to 24,206. performance was lacklustre and financial institutions, government varied across different sectors. agencies and representatives 2017 is a particularly special from the troubled offshore and year for SBF as it will celebrate marine sector. We are heartened its 15th anniversary. In February, that the Ministry of Trade & it relocated to new premises at Advocacy Industry announced in late SBF Center, gifted generously by November two schemes offering Under these trying circumstances, Far East Organization. At SBF’s funds and bridging loans to the centrally located downtown SBF released its Position sector. Paper for a Vibrant Singapore office, member companies enjoy which outlined the business access to facilities, including a community’s recommendations dedicated Members’ Corner, to on measures needed to support Business Networking and organised by SBF and Keidanren, engage and connect with one business and economic growth Facilitation where representatives from another. for the immediate- to long-term. 10 Asian economies called for The Paper, completed in late In 2016, helping businesses greater collaboration among As SBF reflects on its 15th 2015, was presented to Minister access opportunities overseas Asian economies for strong anniversary, it is also looking for Finance and Chairman of remained a priority of SBF. The regional growth. to re-organise itself to serve the Committee on the Future year saw the Federation welcome members and the wider Economy (CFE) 124 incoming delegations and In August, SBF also jointly business community better. in January 2016. I am pleased lead 29 outgoing missions organised the Singapore-Vietnam With the recommendations of that the recommendations in the around the world, from Southeast Business Forum with the Vietnam the Committee on the Future Paper provided useful inputs to Asia, China, India, Iran to Cuba. Chamber of Commerce and Economy as our guide, this the CFE for which I represented Industry (VCCI) and the Embassy is an opportune time for SBF SBF on the main committee. The second Singapore Regional of Vietnam in Singapore. This was to transform itself to help Business Forum focused on held in conjunction with Vietnam businesses change, innovate and SBF looks forward to working with regional cooperation and President Tran Dai Quan’s first thrive in the future economy. the Government to implement connectivity along the ‘21st official state visit to Singapore. A CFE’s recommendations as well Century Maritime Silk Road’. The Memorandum of Understanding as the Industry Transformation ‘One Belt, One Road’ portal, (MOU) was signed between SBF Maps to help businesses drive developed jointly with Lianhe and VCCI to boost trade and innovation and productivity. Zaobao, was also launched, to economic relations between our enhance Singapore companies’ countries. In light of the lacklustre economy understanding of this important and plight of businesses, the initiative by China and to present SBF-led SME Committee’s a Singaporean and Southeast Capability Building (SMEC) recommendations to the Asian perspective to a global Government for Budget 2016 audience. To help businesses become called for assistance to alleviate future-ready, SBF continued immediate growth challenges SBF co-organised the Singapore- to provide a broad spectrum Japan Business Forum with of programmes for member the Japan External Trade companies to scale up and Organization and Keidanren in build capabilities. In 2016, 4,600 July. This Forum, with the theme participants benefitted from ‘Partnership for Sustainable SBF’s capability building Mr S S Teo Growth in Asia and Beyond’, programmes, an increase of was held in conjunction with 57 per cent from 2015. The www.sbf.org.sg Chairman the 50th anniversary of bilateral Federation also organised Singapore Business relations between Singapore and the third edition of the Federation Japan. It was followed by the 7th Singapore Productivity Awards Asian Business Summit, jointly and Singapore Productivity Conference and Exhibition.

05 Singapore-Vietnam Business Forum

SBF partnered the Vietnam Chamber of Commerce and Industry (VCCI) to organise this forum in conjunction with Vietnamese President Tran Dai Quang’s state visit to Singapore. Singapore companies found out more about the new directions of the Vietnamese Government’s economic and investment policies. KEY SBF and VCCI also signed their first Memorandum of Business Mission to Iran and the Understanding to facilitate closer collaborations and Singapore-Iran Business Forum mutual support. SBF Position Paper for a Led by SBF Chairman Mr S S Teo INITIATIVES Vibrant Singapore and SBF Vice Chairman Mr Shabbir 1 4 7Hassanbhai, this largest business Released in January 2016, the mission to Iran comprised 48 & EVENTS SBF Position Paper for a Vibrant companies. Jointly organised with Singapore called for a deep IE Singapore, the mission explored review of Singapore’s existing opportunities in Iran, following economic strategies and for the its re-integration into the global Government to formulate new economy. The five-day mission responses to the challenges and included a visit to Tehran and opportunities in an increasingly the major shipping and regional transhipment hub of Bandar uncertain and global landscape. Abbas. The trip also involved A conference was held in the business matching and networking same month to facilitate further sessions for the companies. discussions on the Paper with the wider business community. Singapore Regional Business Singapore-Japan Business The Singapore-Iran Business Forum and Launch of Belt & Forum and 7th Asian Forum was later held in Singapore Road Digital Portal Business Summit to share the latest developments in 56 Iran and sectors of opportunities This Forum brought together Themed ‘Partnership for for Singapore companies. business leaders and industry Sustainable Growth in Asia and experts from the region to share Beyond’, the Forum discussed insights on regional connectivity, ideas and opportunities in the infrastructure, finance, ICT and areas of regional economic people-to-people linkages in the collaboration, Asia’s infrastructural A Partner to the Committee on the Future 21st century Maritime Silk Road. needs, and internationalisation Economy SBF member Pacific International through new technology and Lines (PIL) signed two Memoranda services, as well as the role that SBF served as a partner to the Committee on the of Understanding with China state- businesses can play in promoting Future Economy (CFE), with members of SBF’s owned enterprises resulting from sustainable growth in Asia and the leadership team serving on the main and sub- the ‘One Belt, One Road’ initiative. world. It was co-organised with the committees. SBF collaborated with CFE secretariat to Japan External Trade Organization organise a seminar to gather inputs from the business To connect Singapore businesses and Keidanren in conjunction with SBF Foundation’s Initiatives community. to the opportunities from the ‘One the 50th anniversary of bilateral Belt, One Road’ initiative, SBF and relations between Singapore and SBF Foundation partnered Lianhe Zaobao jointly launched Japan. the National Volunteer and a digital portal focusing on the Philanthropy Centre for the initiative. This portal is Southeast At the 7th Asian Business Summit Company of Good8 programme 2 Asia’s first comprehensive website attended by 11 business chambers launched on 2 June. This initiative focusing on ‘One Belt, One and organisations from 10 Asian helps businesses to give better Road’, featuring the latest economies, SBF called on trade and more holistically through SMEC’s New Term and Workplan developments, Singapore and associations and chambers in the a self-discovering journey of regional perspectives, and insights region to urge their respective understanding how they give, The SBF-led SME Committee (SMEC) formulated a on the opportunities and risks. governments to facilitate regional equipping them with the right tools, workplan featuring new initiatives and areas of focus integration for an open trade and and collaborating with like-minded for its third term beginning 1 April 2016. Advocacy investment environment. A joint partners to do good. Separately, continues to be a key priority, as SMEC works towards statement was issued, calling for the Foundation’s pilot project introducing more initiatives to address concerns increased collaboration among with SG Enable, Project IN, aimed raised by local enterprises. Asian economies for sustained and www.sbf.org.sg at enhancing the employability robust growth in the region. of young adults with intellectual disability and mild autism has been 3 successfully completed. 07 YEAR IN REVIEW YEAR IN REVIEW 3 9 7 76 NORTH AMERICA EUROPE MIDDLE EAST ASIA USA, Mexico & St Vincent Estonia, France, Lithuania, Norway, Oman, Kuwait, Iran, China, Taiwan, Korea, Japan, & the Grenadines Sweden, Switzerland & Russia UAE & Qatar Philippines, Malaysia, Indonesia, India, Sri Lanka, Vietnam & Laos KEY FIGURES & STATISTICS

1 3 AUSTRALIA SOUTH AMERICA Argentina, Brazil, Cuba and Mexico 25 AFRICA Benin, Botswana, Cape Verde, Equatorial Guinea, Ethiopia, Ghana, Ivory Coast, Madagascar, Mauritius, Mozambique, Nigeria, South Africa, Tanzania, Uganda, Egypt & Zimbabwe

TOTAL NUMBER OF TOTAL NUMBER OF TOTAL NUMBER OF TOTAL NUMBER OF PARTICIPANTS ENGAGED MEMBERSHIP ACTIVITIES INCOMING DELEGATIONS OUTGOING DELEGATIONS 73,458 24,206 514 124 29 Statutory members (23,756) & Associate members (450)

09 YEAR IN REVIEW YEAR IN REVIEW SHARE CAPITAL INDUSTRY PROFILE BREAKDOWN OF OF SBF MEMBERS

SBF MEMBERS WHOLESALE TRADE 22.5%

MANUFACTURING (e.g. Food,Textiles,Chemicals, 13.7% 41.7% Paper products,Metals etc)

OTHERS (e.g. holding/ investment 13.2% companies)

29.6% OTHER SERVICES (e.g. Education, Repair 9.5% & Servicing etc)

20.5% CONSTRUCTION & 8.4% CIVIL ENGINEERING

PROFESSIONAL 8.2% 8.3% SERVICES

LOGISTICS & 6.0% TRANSPORTATION

BANKING & 5.0% INSURANCE

IT & RELATED SERVICES 4.8%

RETAIL TRADE 3.5%

$0.5M TO LESS $1M TO LESS $5M TO LESS $10M & ABOVE REAL ESTATE 2.7% THAN $1M THAN $5M THAN $10M

HOTELS, RESTAURANTS 2.5% & ACCOMMODATIONS

11 INTERNATIONAL BUSINESSFORUMS. BUSINESS COMMUNITYINPROMINENT AND REPRESENTSTHESINGAPORE A PRO-BUSINESSENVIRONMENT AND THEGOVERNMENTTOFOSTER INITIATIVES, ITENGAGESBUSINESSES THROUGH ABROADRANGEOF LOCALLY ANDINTERNATIONALLY. THE SINGAPOREBUSINESSCOMMUNITY SBF ADVOCATES KEYISSUESIMPACTING BUSINESSES SPEAKING FOR

DIALOGUE FOR PROGRESS DIALOGUE FOR PROGRESS DIALOGUE FOR PROGRESS

SBF Position Paper for a Vibrant Singapore Formation of the Trade and Investment Group The SBF Position Paper for a Vibrant Singapore, released in January 2016, attracted wide interest within and beyond the Partner to the business community. It outlined the business community’s recommendations on the measures needed for sustainable Committee on the The Trade and Investment Group business and economic growth. A conference, attended by some 360 business leaders, was later held to discuss the Future Economy (TIBG) was established to step up SBF’s efforts in educating businesses recommendations. A highlight was the formal presentation of the Paper to Mr Heng Swee Keat, Minister for Finance and SBF Chairman Mr S S Teo served on Singapore’s free trade agreements Chairman of the Committee on the Future Economy. as a member of the Committee and gathering their feedback. It will on the Future Economy’s (CFE’s) Following the release of the Position Paper, SBF organised a series of well-received activities in support of the Paper’s also intensify advocacy on cross-border main committee and as the Co- recommendations. trade and investment issues, and serves Chair for the Sub-committee on as Singapore’s national secretariat for Future Corporate Capabilities the APEC Business Advisory Council, and Innovation. SBF Council SBF National Business International Chamber of Commerce member Ms Rachel Eng and Survey 2016/2017 and Business 20. SBF-led SME Committee mem- A key survey conducted annually, ber Ms Susan Chong were in In its first year, TIBG held SBF’s the SBF National Business Survey CFE’s main and sub-committees first major consultation session 2016/2017, offered comprehensive as well. A seminar organised by with our Ministry of Trade and insights into the Singapore business SBF and the CFE secretariat Industry on Singapore’s free trade community’s priorities, challenges was also held for the business agreements (FTAs). It was a closed- and future plans. More than 1,100 community to provide inputs door session on the Regional businesses across major industries to CFE. Comprehensive Economic Partnership. were polled for their views on key Mr S S Teo presenting the SBF Position Paper to Minister Heng Swee Keat TIBG also collaborated with UPS for a challenges, government policies, seminar to help businesses leverage Budget 2017, economic transformation Singapore’s FTAs to expand globally. and overseas expansion. The findings were shared with the Government for Budget 2017.

14th Annual General Meeting & Dialogue with Mr

The Meeting saw eight new members, comprising four elected members and four representatives of trade associations and chambers, appointed to the SBF Council for a two-year term from 2016 to 2018. Joining the SBF Council for the first time was China Enterprises Association (Singapore), demonstrating SBF’s commitment to facilitate business exchanges between Singapore and China, , and help our businesses tap opportunities in China.

Mr S S Teo with the members of the panel for the “Panel Discussion on the Recommendations of the SBF Position Paper” At the new Council’s first meeting, held immediately after the AGM, Mr S S Teo was elected SBF Chairman for a second consecutive two-year term. A post-AGM event also featured a ministerial dialogue with Mr Ong Ye Kung, Acting Minister Seminar on Moving from Value-adding to Value-creation for Education (Higher Education and Skills) and Senior Minister of State, Ministry of Defence. Moderated by new Council member and Executive Chairman of PwC LLP Singapore, Mr Yeoh Oon Jin, the dialogue discussed how SkillsFuture can To help companies stay relevant amid disruption, SBF teamed up with PwC for a Seminar on Collaborating assist employers in integrating education, training and career progression to best meet organisational and workforce seminar to offer insights into moving from value-adding to value-creation. At the with Large Companies needs, among other pertinent business issues. event, the book ‘Differentiation – How to Win in a Disruptive Market’ was launched. SBF partnered Temasek International to hold a seminar for 100 business leaders. The seminar presented valuable insights on how SMEs can work successfully with large companies, and provided opportunities for collaboration.

15 DIALOGUE FOR PROGRESS DIALOGUE FOR PROGRESS Budget 2016 Seminar on Budget 2016 for the Business Community The Ministry of Finance shared insights into Budget 2017’s key initiatives SME Committee’s as well as how businesses could leverage the measures for growth. SBF (SMEC’s) Briefing on Budget 2016 for Trade Associations & Chambers (TACs) member companies also benefitted from having representatives from the Recommendations for Ministry, IE Singapore, National Research Foundation, RSM and UOB address Budget 2016 Some 140 representatives from 43 TACs attended this briefing to better understand Budget 2016. The Ministry of Finance their questions. elaborated on key initiatives impacting businesses, and a panel of representatives from various government agencies addressed SMEC called on the Government to alleviate immediate growth queries and concerns during the Q&A session. challenges and create an innovation-centric environment for SMEs. Given the constraints and limitations of Singapore’s small domestic economy, the recommendations were geared towards helping SMEs pursue growth, emerge stronger from economic restructuring and trans- form into global players.

17 DIALOGUE FOR PROGRESS DIALOGUE FOR PROGRESS SME Convention 2016

An annual hallmark event of SMEC, SME Convention 2016 focused on how SMEs can grow through internationalisation, innovation, leadership and management. The 2016 edition, which attracted more than 500 participants, incorporated the inaugural Government Procurement Fair, presenting insights and expertise on leveraging government procurement opportunities for SMEs to build their track records for internationalisation and growth.

Briefing on National Wages Council’s Guidelines for 2016/2017

It marked the first time this briefing was held for members of 20 trade associations and chambers. Jointly organised by SBF and the Singapore National Employers Federation, the event enabled its 600 participants to better understand the National Wages Council’s latest guidelines, particularly for low-wage workers, and the Tripartite Guidelines on Managing Excess Manpower and Responsible Retrenchment.

Guest of Honour Dr , Minister of State for Trade & Industry, delivering the opening address

SME Committee’s 2016-2018 Workplan Offshore and Marine For its third term from 1 April 2016 till 31 March 2018, the SBF-led SME Committee Roundtable (SMEC) unveiled its workplan featuring new initiatives and areas of focus. Among SMEC’s key initiatives was the formation of a Government Procurement Given the offshore and marine Working Group, which submitted recommendations to boost SME participation sector’s turbulent times, in government procurement. representatives from trade associations and chambers, banks, businesses and the Government came together in September 2016 to discuss the industry’s challenges. The consensus was that for Singapore to maintain its world-class capabilities in this sector, close cooperation among industry players, financial institutions and the Government was crucial. In November 2016, the Government later re-introduced the Bridging Loan and an enhancement to the Internationalisation Financing Scheme to assist the sector to SMEC members engaging in dialogue tide through its difficulties.

19 GROWTH STRATEGIES. FOOTPRINT ANDDIVERSIFYTHEIR HELPING THEMEXPAND THEIRGLOBAL BUSINESSES TOVENTUREOVERSEAS, ANDPARTNERSHIPSOPPORTUNITIES FOR SBF IDENTIFIESANDSEEKSOUT OPPORTUNITIES SEEKING NEW

ENABLING INTERNATIONAL GROWTH ENABLING INTERNATIONAL GROWTH ENABLING INTERNATIONAL GROWTH

Business Mission to India

AMERICAS, In conjunction with Prime Minister ’s EUROPE, working visit to India, SBF jointly organised a business mission to Delhi and Mumbai with the MIDDLE Singapore Indian Chamber of Commerce and Industry, EAST, the Building and Construction Authority Singapore and IE Singapore from 2 to 8 October. AFRICA & This was the largest mission to MOU signing between Iran business mission participant TuffChem Environmental Services and India to date, with local SMEs Business panel on Forging Business Partnerships between India and Singapore at the India Singapore SOUTH ASIA TAPPICO (Tamin Petroleum and Petrochemical Investment Co) making up 80 per cent of the Business Forum in Delhi delegation. The delegation met key representatives of leading Business Mission to Iran government organisations and also discussed opportunities SBF and IE Singapore jointly for collaboration with senior organised the fifth business representatives from GMR mission to Iran, SBF’s largest Group, ONGC, Tata Group and mission to the country to date, Larsen & Toubro. comprising 57 participants from 48 Singapore organisations, from 26 February to 3 March. Leading the mission were SBF Chairman Q&A segment with high-level Iranian Minister S Iswaran with mission delegates Prime Minister Lee Hsien Loong met with MOU signing between SBF and the Mr S S Teo and Vice Chairman representatives at dinner representatives of AGC Asia Pacific, JVL Confederation of Indian Industry witnessed Mr Shabbir Hassanbhai. In Engineering, Worldgate Express Lines, Olam by Minister for Trade & Industry (Industry) S Tehran and Bandar Abbas, International and Agarwal (from left to right) Iswaran and India’s Minister for Railways Shri the delegation participated at a networking cocktail reception Suresh Prabhu in business matching and networking sessions, and meetings with important representatives from some of Iran’s leading business groups and state-linked companies. This was followed by a business forum and networking session held during a reciprocal visit by a high-level Iran government and business delegation to discuss financial and banking issues.

Delegates had the opportunity to present their businesses and explore opportunities for collaboration with Tata Consultancy Services

The Singapore business delegation with Minister S Iswaran, Ambassador Ong Keng Yong and Ambassador Javad Ansari at the dinner hosted by the Ministry of Trade and Industry, Singapore

23 ENABLING INTERNATIONAL GROWTH ENABLING INTERNATIONAL GROWTH

Business Mission to Cuba and Mexico

In conjunction with President ’s state visit to Mexico, SBF and IE Singapore jointly organised a business mission to Havana and Mexico City from 5 to 11 June. Fourteen companies made up the first ever Singapore business delegation to Havana, where the inaugural Cuba- Singapore Business Forum was held. A Memorandum of Signing ceremony between SBF and Chamber of Commerce of Cuba in Havana Understanding between SBF and the Chamber of Commerce of Cuba was signed to facilitate The Egypt delegation with President Tony Tan and Dr Koh Poh Koon the growth of mutually beneficial business relations. In Mexico City, 19 companies attended Business Mission the Mexico-Singapore Business to Egypt Forum, where Minister of Trade and Industry (Trade) Mr Lim Hng From 30 October to 4 November, Kiang and Mexican Secretary of SBF and IE Singapore led a Economy Mr Ildefonso Guajardo business mission to Egypt, in advocated stronger bilateral conjunction with President Tony economic relations and business Tan’s state visit. This visit came ties in their keynote addresses. closely after Egypt President Abdel Fattah el-Sisi’s visit to Singapore in 2015 and included Business delegation with President Tony Tan in Mexico City the Egypt-Singapore Business Forum. In Cairo, Minister of State for Trade and Industry Mr Koh Poh Koon and Egypt Minister Singapore-Madagascar Business Mission of Investment Dalia Khorshid Business Forum to Russia witnessed the opening of Pacific International Line’s first logistics In conjunction with the In conjunction with Prime Minister facility in Egypt and the Middle President of the Republic of Lee Hsien Loong’s working East. The delegation also visited Madagascar His Excellency Hery visit to Russia, SBF organised a the new Suez Canal economic Rajaonarimampianina’s state business mission comprising 13 zone project to understand more visit, SBF organised the inaugural companies to Moscow from 15 about its business opportunities. Singapore-Madagascar Business to 18 May. The mission was part Forum on 18 May. More than The delegation with PM Lee Hsien Loong in Signing ceremony between Federal of business efforts to support Mr delivering the welcome 150 participants gained insights Moscow government enterprise Russian State Circus the Eurasian Economic Union address into business opportunities in Company, under the Russian Ministry of (EAEU)-Singapore FTA and to Madagascar through presentations Culture, and Gribushin House Private Limited explore business opportunities by the Central Bank and and partnerships with EAEU Economic Development Board of member countries. SBF and Madagascar and a panel discussion. Delovaya Rossiya renewed a A Memorandum of Understanding Memorandum of Understanding was signed between the to reaffirm a commitment to Madagascar Government and strengthen business ties. Federal Singapore Cooperation Enterprise, government enterprise, Russian covering a wide range of areas State Circus Company, and such as e-government, planning of Gribushin House Private Limited special economic zones and SME also signed a Letter of Intent to development. bring tours of the Russian Circus MOU signed between the Government to Singapore and the region. of Madagascar and Singapore Cooperation Enterprise

25 ENABLING INTERNATIONAL GROWTH ENABLING INTERNATIONAL GROWTH

Singapore-Vietnam Business Forum

ASEAN In conjunction with Vietnamese President Tran Dai Quang’s state visit to Singapore, SBF jointly organised the Singapore-Vietnam Business Forum with the Vietnam Chamber of Commerce and Industry (VCCI) on 29 August. The high-level Vietnamese delegation comprising government and business leaders shared their perspectives on the new directions SBF Chairman Mr S S Teo and SBF CEO Mr Ho Meng Kit together with Philippine President MoU signing at the Forum of their government’s economic Rodrigo Duterte and Singapore business leaders at Shangri-la Hotel and investment policies. SBF and the VCCI signed their first Memorandum of Understanding to facilitate closer collaboration Business Mission and mutual support. to Myanmar

From 12 to 17 September, SBF led 44 delegates in the first Singapore business mission to Myanmar following the electoral victory of the Liberal Democratic Party. At Nay Pyi Taw, the delegation attended briefings by key ministries, the Myanmar Investment Commission and Q&A session with the Vietnamese leaders moderated by SBF CEO Mr Ho Meng Kit other economic development agencies. In Yangon and SBF Chairman Mr S S Teo in a handshake with Philippine President Mr Rodrigo Duterte Mandalay, the team participated International Business Business Mission to in networking sessions and Dialogue with Philippine Fellowship Executive Surabaya met members of the Singapore Programme on Cambodia Association of Myanmar. SBF President H.E. Mr Rodrigo To support SMEs, SBF and IE Chairman Mr S S Teo and senior Duterte SBF conducted the inaugural Singapore organised a business representatives from Keppel Land run of the International Business mission to Surabaya, Indonesia, and SembCorp made a courtesy SBF collaborated with the Embassy Fellowship Executive Programme from 25 to 28 May, in partnership call on Minister for Planning and of the Philippines in Singapore on Cambodia for 14 participants with the Association of Small Finance U Kyaw Win. and the Philippine Trade and from 22 to 27 August in Phnom and Medium Enterprises and Investment Centre to organise a the Singapore Malay Chamber Courtesy call on the Governor’s Office of East Penh. The programme offered an Indonesia Province meeting with Philippine President overview of business practices in of Commerce and Industry. SBF Chairman Mr S S Teo presenting a gift to Rodrigo Duterte for business Cambodia and highlighted retail Senior Minister of State, Ministry Minister U Kyaw Win leaders on 16 December. President and consumer services as sectors of Finance and Ministry of Duterte assured Singapore with the most promising growth Culture, Community and Youth, investors and businesses of his opportunities. Participants also Ms , led the mission administration’s commitment to benefitted from the networking of 20 business representatives eliminating corruption, and invited session with members of the from the environment, finance them to communicate directly with Singapore Club Cambodia. and manufacturing sectors. his office if they faced difficulties The delegation explored dealing with government potential areas of investment agencies. He noted the interest in Surabaya, where Singapore and developments of Keppel has consistently ranked among Corporation and Sunseap Group the top five foreign investors. A Delegates with senior officials of East Jawa in the Philippines, and spoke of his Memorandum of Understanding Province government’s focus on areas such was signed between YCH Welcome address by SBF Chairman Mr S S Networking session between SBF mission as business process outsourcing Group’s PT YCH Indonesia and Teo at the Business Dialogue & Networking delegates and members of the Singapore services, power and energy, and Sekar Group’s PT Pangan Lestari. Session hosted by UMFCCI in Yangon Association of Myanmar (SAM) in Yangon sustainable energy development.

27 ENABLING INTERNATIONAL GROWTH ENABLING INTERNATIONAL GROWTH

Business Mission to CHINA Chongqing SBF and IE Singapore jointly & organised a business mission to Chongqing in conjunction with Minister in the Prime Minister’s NORTH Office, Mr ’s official visit from 15 to 17 April. This was the first mission since the launch ASIA of the Chongqing Connectivity Initiative in November 2015. A Professor Tommy Koh, Ambassador-at-Large, Ministry of Foreign Affairs, Singapore, was the key highlight was the concurrent luncheon plenary speaker Moderator and panellists of the plenary session on regional connectivity split track meetings in the areas of finance, infrastructure, Singapore-Japan Business through new technology and logistics and aviation, ICT and Forum and Asian Business services. A highlight was the other services. Through the dialogue session with Deputy Singapore Regional Launch of “One meetings and networking, Summit Prime Minister and Coordinating participants learnt more about Minister for Economic and Business Forum Belt, One Road” SBF organised the Singapore-Japan the Chongqing Government’s Social Policies, Mr Tharman Business Forum together with Digital Portal interest in promoting investments Shanmugaratnam. Held on 16 August, the Forum Japan External Trade Organization focused on regional cooperation and collaboration. From 3 to 4 SBF and Lianhe Zaobao jointly and Keidanren on 15 July. The At the 7th Asian Business Summit and connectivity in the ‘21st September, SBF led a second developed the ‘One Belt, Forum marked the 50th anniversary held on 16 July, representatives Century Maritime Silk Road’ business mission to Chongqing One Road’ (OBOR) digital of bilateral relations between of 11 business chambers and initiative. More than 500 delegates in conjunction with Prime Minister Keynote speech by Mr Chan Chun Sing, portal, Southeast Asia’s first Singapore and Japan. Gracing the organisations from 10 Asian from 38 countries and regions, Lee Hsien Loong’s official visit. Minister, Prime Minister’s Office, Singapore comprehensive website on the event were Minister for Trade and economies discussed the major including government officials, OBOR initiative. Launched on 8 Industry (Trade), Mr challenges for Asia and the diplomats, business leaders and March, the portal helps foster a and Japan’s Parliamentary Vice- private sector’s role in supporting representatives from international better understanding of OBOR Minister of Economy, Trade and continued regional economic and regional organisations, as well as facilitates the exchange Industry, Mr Tsuyoshi Hoshino. The prosperity. The Summit concluded attended. Participants gained of ideas and networking with event discussed businesses’ role with a joint statement calling for valuable insights into the regional Chinese enterprises. Nine in enhancing regional economic more collaboration among Asian market conditions and potential months after its launch, the portal collaboration, Asia’s infrastructure economies. areas for development and received more than six million needs and internationalisation collaboration, particularly in page views. infrastructure, finance, ICT, tourism, hospitality and cultural exchange. featured 25 Singapore companies Through the business matching session, 13th China-ASEAN Keynote address by Mr Li Zhaoxing, and three China-Singapore delegates had opportunities to have President, China Public Diplomacy Expo and China-ASEAN face-to-face discussions with potential Government-to-Government Association, and Former Foreign Minister, Business and Investment business partners projects. The Commercial People’s Republic of China Summit Pavilion featured 11 companies and eight trade organisations SBF was appointed by the Ministry and chambers. The Singapore of Trade and Industry to lead the pavilions were honoured with the Singapore delegation for the 13th ‘13th China-ASEAN Expo Best China-ASEAN Expo and China- Exhibitor Organiser’ and ‘13th ASEAN Business and Investment China-ASEAN Expo Best City of Summit in Nanning, China from Charm Pavilion’ awards. 11 to 14 September. The events showcased Singapore’s strengths Delegates shared their views and concerns as a connectivity hub for investors with Minister Chan Chun Sing from China and the region, and enhanced bilateral cooperation among participants in the areas of trade, investment, tourism and cultural exchange.

Our National Pavilion ‘Singapore Dr Koh Poh Koon, Minister of State for – 21st Century Maritime Silk Road National Development & Trade and Industry, Minister Chan Chun Sing and leaders of SBF and Singapore Press Holdings launching the OBOR portal and Modern Connectivity Hub’ toured the Singapore pavilions

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GLOBAL ASIA HUB Singapore representatives at the Forum

Round table discussion with the Chengdu Singapore-Sichuan Collaboration Forum in Chengdu Business Federation

Business Outreach programme for 99 participants to Sichuan to Chengdu and Chongqing from 23 to 25 May. The Working with IE Singapore, delegation promoted Singapore Sichuan Investment Promotion professional services firms as Bureau, Chengdu Business internationalisation partners for Federation, Chengdu Association Chinese companies. of Building Economy Promotion and Chongqing Singapore Club, Round table discussion with the Chengdu SBF conducted an outreach Business Outreach to coordinated a business outreach Association of Building Economy Promotion Guangdong & Shenzhen programme to Guangzhou and (CABEP) Shenzhen to promote Singapore In collaboration with IE Singapore, as an intellectual property hub to the Intellectual Property of Chinese companies. The delegation of 110 participants was led by the Asset Mapping Project Singapore (IPOS), the Intellectual on Singapore Professional Property Office of Guangdong Chief Executive of IPOS, Mr Daren Province, Guangdong Intellectual Tang on 9 and 10 May. Services Property Society, and the Market and SBF collaborated with IE Singapore Quality Supervision Commission and SPRING Singapore to of Shenzhen Municipality, SBF promote Singapore’s professional services sector overseas through the AccessAsia@Singapore Kansai Business Seminar programme. An asset mapping project was conducted to identify Held on 1 June, the Seminar and profile the capabilities of encouraged medium-sized Singapore professional services Business Mission to Milan from SBF, Angeline Suparto Law Japanese companies to set firms. Some 350 firms participated, Corporation, Le Yu Corporate up business in Singapore enabling SBF and government This outreach programme on Advisory and Oriel Management as a springboard into agencies to use the insights 11 and 12 July was conducted Consulting spoke at the ASEAN. Representatives from gathered to enhance market in collaboration with ATAX Singapore Day Seminar on how Ascendas-Singbridge, RSM connections and better promote Associazione Professionale and Italian companies could access and FT Consulting met 70 Singapore businesses overseas. Epyon, and supported by the business opportunities in Asia representatives from over 60 Italian Chamber of Commerce and ASEAN through Singapore. Japanese companies. in Singapore. Representatives

31 GLOBAL ECONOMY. AND COMPETETOBEVIABLEINTHE ENABLING THEMTOADAPT, INNOVATE AMID ADYNAMICBUSINESSLANDSCAPE, SBF HELPSBUSINESSESSTAY RELEVANT SCALING UP INNOVATION, FOSTERING

STAYING RELEVANT STAYING RELEVANT STAYING RELEVANT

SBF CAPACITY BUSINESS BUILDING INSTITUTE ACTIVITIES

SME Business and Financial Management Programme

This five-month industry-led programme, jointly developed by SBF, Singapore Management University and the Singapore CFO Institute, helps SMEs enhance their business and Family Business Forum financial capabilities for growth and expansion. The April-August Themed ‘The Spirit of Family 2016 cohort had 14 graduates. Business: Built to Last’, the inaugural Family Business Forum featured distinguished panellists in plenary discussions to explore how family businesses, as drivers of economic development, can remain dynamic.

Over 160 participants attended the inaugural Family Business Forum

Ensuring Business Resilience in Unpredictable Times

Group photo of the 14 graduates of ‘Enabling Excellence in Your Value Chain’ learning trip to SBF’s annual business continuity Spain, with Minister Chan Chun Sing, Minister in Prime Minister’s Office and Secretary-General of management (BCM) conference the National Trades Union Congress (NTUC) was graced by Minister of State for Trade and Industry Dr Koh Poh Koon as Guest-of-Honour. Two “Enabling Excellence and the MIT Global Supply Chain graced by Mr Chan Chun Sing, new initiatives were launched – a in Your Value Chain” and Logistics Excellence (SCALE). Minister in Prime Minister’s Office Business Continuity Plan initiative, 18 SME leaders attended this trip and Secretary-General of the Learning Trip to Spain developed with the Government’s tailored for C-suite executives of National Trades Union Congress. support, to enable SMEs to the manufacturing and supply manage specific disruptions such This was a customised three- chain industry to learn about the phased programme made as pandemics, and a handbook latest developments and trends. produced for the cold chain, possible by SBF teaming up with One highlight was the graduation the Business Leaders Alumni Club warehousing and storage industry ceremony and dialogue session to help logistics companies raise their BCM-readiness.

35 STAYING RELEVANT STAYING RELEVANT

Singapore National Security Productivity Conference 2016: Conference and Fight the Dark Side Exhibition Into its 10th year, the 2016 The two-day conference covered conference attracted over the challenges companies face 500 participants to learn more in increasing productivity and about security strategies and strategies for transforming enhancing their business their companies into lean resilience. SBF introduced and profitable enterprises. In the cyber security readiness line with the national drive to checklist for companies to guard transform Singapore’s economy, against cyber security lapses. the conference focused on Mr , Minister for Manpower, delivered the ministerial keynote address Minister for Communications people development and skills and Information and Minister upgrading, technology and in charge of Cyber Security, Dr automation, partnership and launched SBF’s collaboration, and innovation Cybersecurity Capabilities Series management. 900 participants comprising workshops to help attended the event where Mr Lim companies improve their cyber Swee Say, Minister for Manpower, security capabilities. was the Guest-of-Honour.

Over 500 participants attended the Conference where Minister Yaacob Ibrahim (above) delivered the opening address

The two-day conference and exhibition attracted 900 participants Singapore Productivity Stay Prepared – Business Awards Psychological Resilience Programme The 2016 edition honoured 10 local enterprises across six sectors that demonstrated winning Temasek Cares, together with productivity strategies involving Changi General Hospital and people management, advocating SBF, launched the Stay Prepared – innovation, embracing technology Business Psychological Resilience and excellent customer service. Programme (B-PREP), Singapore’s The 10 winners were Koufu Pte Minister Shanmugam graced the launch of first psychological resilience B-PREP Ltd, Sushi Express Group Pte Ltd, programme for businesses. It Representatives of the winning companies with Guest-of-Honour Minister S Iswaran Amara Singapore, Village Hotel aims to help businesses prepare Bugis, Times Software Pte Ltd, employees for the psychological Aerolog Express Pte Ltd, Amos impact of emergencies, crises International (S) Pte Ltd, Aalst and threats. Chocolate Pte Ltd, Onn Wah Tech Pte Ltd, and Eu Yan Sang (Singapore) Pte Ltd.

Special Guest Ms Sim Ann, Senior Minister of State for Trade & Industry and Culture, Community & Youth, visiting one of the exhibition booths on 2 November 2016

37 SOCIAL RESPONSIBILITY. PHILANTHROPY ANDCORPORATE IN THEAREASOFCORPORATE MORE ACTIVEANDENGAGED ENCOURAGE COMPANIES TOBE CORPORATE GIVINGAND THE COMMUNITY. WEDRIVE PARTNERSHIPS THAT BENEFIT SBF CREATES MEANINGFUL COMMUNITY BACK TO GIVING

PAYING IT FORWARD PAY IT FORWARD PAY IT FORWARD

SBF Foundation has been envisioned to be a foundation of the business community for the society of Singapore. It aims to help Singapore’s business community give back to society by SG Enable Project IN reaching out and transforming the lives of Singapore’s less privileged. The Foundation does this by actively promoting corporate social responsibility and corporate philanthropy, as well A two-year pilot programme concluded in 2016, the SG Enable Project IN as by providing advancement of education through partnership with the business community. brought together businesses as well as the education and social service sectors to contribute towards an inclusive society. Young adults with intellectual dis- abilities and autism embarked on a nine-month long internship, with the work Bridging Businesses experience helping them transit from school to adult life. The programme had and the Institute of 36 beneficiaries and five employers. Technical Education

SBF Foundation facilitated partnerships between businesses and the Institute of Technical Education since 2015 to make available industrial attachment opportunities, mentoring and guidance to needy students. The programme, with support from 26 companies, has helped 44 students.

Launch of Company of Good

The National Volunteer and Philanthropy Centre (NVPC), in partnership with SBF Foundation, launched the Company of Good initiative, supported by the Ministry of Culture, Community and Youth (MCCY). The programme aims to enable businesses to understand their existing giving profiles, build their knowledge, expand their giving capabilities and partner like-minded businesses to exchange ideas.

The launch was officiated by Minister for Culture, Community and Youth, Ms , and attended by more than 200 Company of Good programme partners, founding members, business leaders and corporate giving practitioners from various industries. Over 240 companies have come onboard so far.

Ms Melissa Kwee, CEO of NVPC; Mr Eugene Seow, Vice Chairman of NVPC; Mrs Mildred Tan, Chairman of NVPC; Ms Grace Fu, Minister for MCCY; Ms Sim Ann, Senior Minister of State for MCCY and MTI; Mr S S Teo, SBF Chairman and Ms Lee Sze Yeng, Board Member of SBF Foundation, at the launch of Company of Good

41 FEDERATION PROFILE FEDERATION PROFILE

Council Members The SBF Council manages all matters relating to SBF. The Council includes nominated, elected and co-opted FEDERATION representatives, with a minimum of 20 members and a maximum PROFILE of 26. SBF LEADERSHIP COMPRISES A The three local ethnic chambers – Singapore Chinese Chamber of TEAM OF COMMITTED INDIVIDUALS Commerce & Industry, Singapore Indian Chamber of Commerce COMING TOGETHER TO SERVE THE & Industry and Singapore Malay Chamber of Commerce BUSINESS COMMUNITY. & Industry – have permanent TEO SIONG SENG GAUTAM BANERJEE representation. Chairman Vice Chairman Managing Director, Vice Chairman Board of Trustees Pacific International Lines Pte Ltd President, According to the SBF Act, the Board of Trustees is Blackstone Singapore charged with ensuring that SBF fulfils its objectives and that its funds and assets are properly managed and safeguarded. It also ensures that Council members are fit for office.

THOMAS CHUA SHABBIR H HASSANBHAI R THEYVENDRAN Vice Chairman Vice Chairman Vice Chairman President, Director, Chairman, Singapore Chinese Chamber of Indo Straits Trading Co Pte Ltd Singapore Indian Chamber of Commerce & Industry Commerce & Industry

FANG AI LIAN THERESA FOO LUCIEN WONG Chairman Member Member Advisor, Chairman, Chairman & Senior Partner, Far East Organization Group Gardens by the Bay Allen & Gledhill LLP and SBF Foundation

ZAHIDI ABDUL RAHMAN LOH BOON CHYE OLIVIA LUM Vice Chairman Honorary Secretary Deputy Honorary Secretary President, Chief Executive Officer, Executive Chairman and Group Singapore Malay Chamber Chief Executive Officer, of Commerce & Industry Hyflux Ltd

43 FEDERATION PROFILE FEDERATION PROFILE

LAWRENCE LEOW PEK LIAN GUAN ACHAL AGARWAL DWIGHT HUTCHINS LOH CHIN HUA MENG FANQIU Honorary Treasurer Deputy Honorary Treasurer Council Member Council Member Council Member Council Member Chairman & Chief Chief Executive Officer, President, Chairman, Chief Executive Officer President, Executive Officer, Tiong Seng Holdings Ltd Kimberly-Clark Asia Pacific American Chamber of and Executive Director, China Enterprises Crescendas Group Commerce in Singapore Keppel Corporation Association (Singapore)

JANET ANG JAN B BJERFDJERF RACHEL ANG TAKUYA OKADA AUGUSTINE TAN ANDREW TJIOE Council Member Council Member Council Member Council Member Council Member Council Member Vice-President, President, Deputy Chairman, President, President, Founder and Executive Industry Solutions Sales Team, EuroChamEuropean Chamber in Singapore of Wong Partnership LLP Singapore Japanese Chamber of Real Estate Developers’ Chairman, IBM Asia Pacific Commerce, Singapore Commerce and Industry Association of Singapore TungLok Group

DOUGLAS FOO GAN SEOW KEE ROLF GERBER YEOH OON JIN Council Member Council Member Council Member Council Member President, Chairman and Immediate Past Chairman, Executive Chairman, Singapore Manufacturing Managing Director, Singapore International PwC LLP Singapore Federation ExxonMobil Asia Pacific Pte Ltd Chamber of Commerce

45 FEDERATION PROFILE FEDERATION PROFILE SBF COUNCIL SBF – LED SME COMMITTEES COMMITTEE SBF COUNCIL 2016-2018

Executive Mr Teo Siong Seng (Chairman) Advisors Mr Thomas Chua Committee Ms Sim Ann Ministry of Trade & Industry Senior Minister of State Mr Shabbir Hassanbhai Mr Ministry of Manpower Minister of State Dr R Theyvendran Ms Rachel Eng Chairman Mr Lawrence Leow Crescendas Group Chairman & CEO Mr Yeoh Oon Jin (Chairman) Audit Mr Gautam Banerjee Committee Mr Rolf Gerber Vice-Chairman Ms Janet Ang Mr Melvin Tan Cyclect Group Managing Director

Mr Lawrence Leow (Chairman) Mr Teo Siong Seng Singapore Business Federation Chairman Finance & Mr Pek Lian Guan Mr Kurt Wee SMEC Cost of Doing Business Sub-committee Chairman Investment Mr Andrew Tjioe Association of Small and Medium Enterprises President Committee Ms Audrey Yap SMEC Innovation Sub-committee Chairman Mr Loh Chin Hua Yusarn Audrey Managing Partner Mr Augustine Tan Mr Lau Tai San SMEC Internationalisation Sub-committee Chairman Mr Achal Agarwal Singapore Chinese Chamber of Vice President Commerce and Industry Mr Linus Goh SMEC Financing Sub-committee Chairman Ms Olivia Lum (Chairperson) OCBC Bank Head, Global Commercial Banking Member Relations Ms Susan Chong SMEC Manpower & Productivity Sub-committee Chairman Mr Douglas Foo Committee Greenpac (S) Pte Ltd CEO Mr Zahidi Abdul Rahman Mr Abdul Rohim Sarip Singapore Malay Chamber of Commerce Immediate Past President Mr Jan B. Djerf and Industry Mr Dwight Hutchins Mr Casey Kesavan Singapore Indian Chamber of Commerce Council Member Mr Takuya Okada and Industry Mr Meng Fanqiu Mr Dennis Foo Singapore Nightlife Business Association President Ms Donna Lee Franchising and Licensing Association (Singapore) President Mr Douglas Foo Singapore Manufacturing Federation President Singapore National Employers Federation Council Member Appointments Mr Teo Siong Seng (Chairman) Mr Ernie Koh Singapore Furniture Industries Council President & Remuneration Mr Loh Boon Chye Mr Kenneth Loo Singapore Contractors Association Limited President Committee Mr Gan Seow Kee Mr R Dhinakaran Singapore Retailers Association President Dr Ricky Souw Singapore Precision Engineering and Immediate Past Chairman Technology Association Mr Roderick Chia Singapore infocomm Technology Federation Member Mr Teo Siong Seng (Chairman) Nominations Mr Stanley Lim Singapore Logistics Association Chairman Mr Gautam Banerjee Committee Mr Ooi Tiat Jin Singapore Chemical Industry Council Chairman, SME Committee Mr Loh Boon Chye Mrs Wong Sioe Hong Singapore Retailers Association Vice President Mdm Cynthia Phua Consultant Mr Saktiandi Supaat Maybank Group Executive Vice President

47 SBF SECRETARIAT

GLOBAL GLOBAL CORPORATE CAPACITY CEO OFFICE STRATEGY & MEMBER CORPORATE GLOBAL BUSINESS BUSINESS SERVICES BUILDING DEVELOPMENT RELATIONS & COMMUNICATIONS BUSINESS Americas, China & & SBF Ho Meng Kit SERVICES ASEAN and Europe, North Asia Esther Chong BUSINESS Chief Joanne Guo Gerald De Cotta Global-Asia Hub Executive Middle East, Assistant INSTITUTE Assistant Cheryl Kong Director Africa & South Annie Wang Executive Officer Executive Assistant Thian Tai Chew Asia Assistant Director Doris Chow Director Executive Assistant Executive Assistant Director Executive Martin Yuoon Director Executive Director Assistant Director Executive Director

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