ED 45

A PUBLICATION BY ASME 

William Wong 

Making a difference 

Cover Story | Pg 28 

The Entrepreneur of the 

Year 2012 ~ 

A Rotary-ASME Award 

Celebrating Entrepreneurial 

Excellence 

Special | Pg 13 

$6.90 (+GST) 

MICA (P)104/03/2012 

ISSN NO. 1793-0286 

SEP | OCT 2012 

Inter-Association 

Networking Night 2012 

Events | Pg 7 

SMEs and 

Business Ethics 

Commentary | Pg 26 

Focusing 

on Business 

Processes 

Top 5 | Pg 67 

ISSUE 45

p07 

p60 

p28 

p13 

p63 

SPECIAl 

13 | The enTrepreneur of The 

Year 2012 ~ a roTarY-aSMe award 

Into its 24th year, the oldest and most established business 

accolade for entrepreneurship has honoured 13 deserving 

individuals for excellence in their respective fields. Find out 

what it takes to be a 360 degree entrepreneur. 

CovER SToRY 

28 | MaKInG a dIfferenCe 

Fin out how Mr William Wong, managing director of 

top-notch real estate consultancy RealStar Premier has 

managed to successfully 

stand out from the crowd. 

IN ThIS ISSuE 

18 | whY we MuST all be enTrepreneurS now 

Read about this crucial undertaking and why it is so 

important in today’s trying business environment. 

23 | SInGapore’S populaTIon, SMeS’ fuTure 

A brief overview on the current trends within Singapore’s 

dynamic population. 

34 | GeTTInG Your eMploYeeS’ fInanCeS rIGhT 

Find out how to improve your employees’ financial literacy to 

improve productivity. 

45 | MaxIMISInG TalenT 

A new ASME initiative will help job-ready Singaporeans 

secure employments with SMEs. 

REgulARS 

3 | MeSSaGe froM ed 

4 | In The newS 

5 | evenTS 

11 | Calendar of evenTS 

36 | properTY 

57 | lIfeSTYle 

63 | GaSTronoMIa 

66 | ClaSSIfIedS 

67 | Top 5 

sE p | Oc t 2012 

En t r E p r E n E u r s’ Di g E s t 

September - October 2012 

1

As Singapore turns 47, it is both comforting and also humbling to 

see how far our tiny island nation has come. Allow me a brief trip 

down memory lane, where our ancestors and forefathers went 

about their everyday lives without the aid of advanced technology or social 

media. The small and medium enterprises of old had plenty to contend 

with, yet managed to successfully break through the mold and emerge 

as successful enterprises. Much like Singapore’s meteoric rise onto the 

world stage, our SMEs parallel this national achievement, expanding and 

improving with the entrepreneurs’ dedication and passion. 

It so happens that this is also the time when we recognise and honour the 

excellent entrepreneurial practices undertaken by our local businessmen. 

The Entrepreneur of the Year Award, annually co-organised by the 

Association of Small and Medium Enterprises with the Rotary Club of 

Singapore, is now into the 24th year of uncovering and showcasing our 

local entrepreneurial gems on the national stage. These Top Entrepreneurs 

have proven to be resilient, determined and above all, possess a burning 

spirit for enterprise that have enabled them to make a difference within 

their respective industries. Congratulations to all of our Top Entrepreneurs 

this year! 

As we celebrate these remarkable individuals, this issue of Entrepreneurs’ 

Digest will deal with issues concerning entrepreneurship, the ever-present 

onus on sound business ethics as well as the current trends observed in 

Singapore’s population. In fact, the issue on population will have potential 

ramifications for the nation’s workforce in the near future, so it warrants 

some thought. 

The Entrepreneur of the Year 2012 Winners’ Special bundled with this 

issue will also be a delightful and engaging read. Please enjoy it. 

Yours through service, 

Terence Wee 

Executive Director 

Association of Small and Medium Enterprises 

Message FroM 

The execuTive 

DirecTor 

CElEBRATINg 

AChIEvEMENTS 

A PUBLICATION BY ASME 

EDITORIAL TEAM 

Managing Editor 

Terence Wee 

Editor 

James Tan 

[corpcomms@asme.org.sg] 

Writers 

Eunice Choy 

Advertising 

Celine Sim 

Luann Leong 

[sales@asme.org.sg] 

Design 

Wen Ye 

SL Financial Press 

Publisher 

Association of Small and Medium Enterprises 

Advisor 

Thomas Fernandez 

Contributors 

Paul De Burger 

Lim Tzee 

Mark Dixon 

Herbert Vongpusanachai 

Robert Chew 

AsiaPay 

CommercialAsia 

Korean Ginseng Corporation 

MTI-PEP Secretariat 

Yusarn Audrey 

Disclaimer 

The comments and views expressed in Entrepreneur’s 

Digest do not necessarily reflect those of the publisher. 

This publication is intended to encourage, motivate 

and assist the readers in regards to entrepreneurship. 

It is however, not a substitute for and should not 

be relied on as if it were professional advice on 

entrepreneurship, law, accounting or any aspect of 

business. The Publisher expressly disclaims all liability 

for loss, damage or expense suffered or sustained by 

any person, body or corporation arising directly or 

indirectly from action as a result of the material in this 

publication. Any reliance on material therein shall be at 

the readers’ own risk. 

Copyright 

All rights reserved. No part of this publication may be 

reproduced, stored in a retrieval system, or transmitted, 

in any form or by any means, electronic, mechanical, 

photocopying, recording or otherwise, without prior 

permission of the copyright owner of publisher © 

Association of Small and Medium Enterprises, 167 

Jalan Bukit Merah, Tower 4, #03-13, Singapore 

150167. Tel: (65) 65130388 Fax: (65) 65130399. 

MICA (P) No 104/03/2012. ISSN: 1793-0286. Printed 

by SL Financial Press Pte Ltd. 

sE p | Oc t 2012 


3

in t h E n E w s 

A Singapore of hope, heart and home 

In his 130-minute National Day Rally on the evening of 26 

August 2012, Prime Minister Lee Hsien Loong stressed 

the importance of constant improvement, adaptation to 

changes and leveraging on new opportunities to grow 

and thrive in a rapidly-changing world. Speaking in Malay, 

Mandarin and English, PM Lee addressed pertinent issues 

such as Singapore’s declining birth rate and the relations 

between Singaporeans and non-Singaporeans. On the 

latter, PM Lee voiced concern on the seemingly doublestandards 

faced by foreigners in the country: when a 

foreigner does or says something wrong, the response 

is usually immense and poignant both online and offline. 

He added that such one-sided responses are a negative 

reflection on Singaporeans as a society, and that “we 

cannot be small-minded” even if the nation is but a small 

island. For the education sector, the Prime Minister also 

announced that 3000 more full-time university places a 

year will be added by 2020, increasing the graduation rate 

of each cohort from the current 27 per cent to 40 per 

cent. 

Enhanced iSPRINT for SMEs 

At the 15th Infocomm Commerce Conference (ICC) 

held on 24 August 2012, Dr Yaccob Ibrahim, Minister 

for Information, Communications and the Arts (MICA) 

announced that the Infocomm Development Authority’s 

(IDA) iSPRINT funding support be increased from the 

current 50 per cent to 70 per cent of qualifying costs 

for SMEs. The grant cap for Business Improvement and 

Packaged Solutions has also been raised from $10,000 to 

$20,000. Additionally, IDA has established two Infocomm 

Resource Centres (SIRCs) to provide low-cost, efficient 

advisory and consultancy services to SMEs, as well as 

equip them with the technical knowledge for IT projects 

with solution providers. 

u.K Investment Bankers Favour Singapore 

In recruitment firm Astbury Marsden’s annual “Preferred 

Location Survey”, Singapore was chosen by investment 

bankers in the United Kingdom as their most desired 

location to work in, ahead of nations like New York, 

London, Hong Kong and Dubai. A fast-growing, low-tax 

and bank-friendly environment in Singapore is preferred 

over the high-tax and anti-banker sentiments that pervade 

New York and London. The survey, which polled 462 

people in late July 2012, also found that 60 per cent of 

bankers are of the opinion that the Asia Pacific Region is 

expected to be the largest financial centre in 10 years. 

graduates Expect higher Salary and 

Fast Promotions 

The recent JobsCentral Employer of Choice Survey found 

that 64 per cent of recent graduates expect a monthly 

salary of at least $3000 for their first job, as compared 

to the 55 per cent statistic from the same survey 

conducted in 2011. In addition, 75.5 per cent of those 

surveyed expect their first promotion to happen within 

the first two years of their career, the lowest percentage 

within the sampled respondents since 2007 following a 

decline for the past two years. Further to that, 51 per cent 

of respondents in the annual survey indicated that they 

expect to be a manager within the first three years of their 

career. Google also displaced Apple as the top Employer 

of Choice amongst fresh graduates, clinching 38.1 per 

cent of the votes, with Singapore Airlines and then Apple 

ranked second and third respectively. 

Disclaimer: All information is accurate at time of print 

BRANDINg 

– YouR BEST 

STRATEgY 

An SPBA Branding Seminar provides valuable 

insight into the dynamic realm of branding 

on 5 July 2012, more than 200 

brand practitioners, small and 

medium enterprise (SME) owners 

and key decision makers attended a full 

day Branding Seminar held at the Ministry 

of National Development 

Auditorium. Organised by 

the Association of Small and 

Medium Enterprises and Lianhe 

Zaobao, the Seminar is part of 

the annual Singapore Prestige 

Brand Award, where excellent 

branding initiatives and practices 

are recognised and honoured. 

A stellar list of speakers 

graced the event, bestowing 

enlightening and practical 

branding knowledge carried 

through with concrete examples 

and practical case studies. 

Kicking off the Seminar was Mr 

Alfred Wong, managing director 

of premier gifts company Noel 

Gifts International, who shared 

with eager participants on 

how the firm managed to stay 

relevant while moving with the 

times. Examples from Noel’s 

past and present were used to illustrate the 

importance of constantly managing one’s 

brand to stay ahead of the game. 

Mr Geoff Tan, senior vice president and 

head of strategic marketing at Singapore 

Press Holdings, next shared with 

participants the utility of an integrated media 

strategy. Drawing references from modern 

instances and well-known personalities, 

Mr Tan enlivened the atmosphere with his 

anecdotes and sense of humour, instilling 

much interaction within the crowd. 

After a brief tea break, Ms Ng Beng Eng, 

Director of Strategy & Branding for Surbana 

International Consultants presented to the 

Seminar participants why the branding 

practitioner must enjoy building the brand, 

or others will be more than happy to build 

the brand for you. Following Ms Ng’s 

presentation, Mr Viktor Cheng, deputy Chief 

Executive from the Intellectual Property 

Office of Singapore (IPOS) discussed with 

participants the importance of securing 

intellectual property assets in order to fully 

unlock a brand’s true value. 

The presentations after lunch were more 

focused around businesses that have 

successfully made lucrative forays into the 

sE p | Oc t 2012 

sE p | Oc t 2012 

4 En t r E p r E n E u r s’ Di g E s t 


Ev E n t s 

domestic, regional and even international 

markets through excellent branding 

initiatives. Mr Low Cheong Kee, Managing 

Director of local hardware solutions 

chain Home-Fix D.I.Y., gave a warm and 

comprehensive overview of the forms 

of internal branding implemented 

by the company to give its own 

employees a reason to smile. 

Associate Professor Hooi Den Huan 

from the Nanyang Technopreneurship 

Center next gave an intriguing insight 

into brand breakthroughs for SMEs, 

what such smaller companies ought 

to do in order to cut through the 

clutter and achieve excellence. 

Lastly, to round up an already-fulfilling 

day, Mr Adrin Loi, the Executive 

Chairman of Ya Kun International 

illustrated the branding journey of 

the household brand name from its 

inception all the way to its popularity 

today, providing some nostalgic 

remembrance to the participants 

with photos of early Singapore. 

With the wealth of vital information 

garnered throughout the day, the Seminar 

participants went home with fresh 

perspectives and new ideas for their 

brands, perhaps fortifying their branding 

initiatives for the Singapore Prestige Brand 

Award. 

The Seminar was proudly sponsored by 

CIMB Bank and supported by IE Singapore, 

SPRING Singapore and IPOS. 

5

6 

Ev E n t s 

ASSOCIATION AND 

FEDERATION INK 

COLLABORATION 

AGREEMENT 

The Association of Small and Medium 

Enterprises (ASME) has signed a 

Memorandum of Understanding 

(MOU) with the Federation of Merchants’ 

Associations, Singapore (FMAS) to provide 

more value-added services and benefits to 

small and medium enterprises (SMEs) as 

well as to both of their members. 

Following ASME’s recent launch of EDC@ 

North East CDC and also to further extend 

its reach and services to more SMEs in 

the heartland, this MOU marks the start 

of a strategic partnership between both 

associations that will further assist in 

building cooperation that is more focused 

for the benefits of SMEs and merchants. 

Mr Chan Chong Beng, President of ASME, 

sE p | Oc t 2012 


stated, “Ever since we started the EDC at 

North East CDC, we also realised that there 

have been a lot of government schemes 

that are not in favour of those heartlanders. 

We’ll be making suggestions as we become 

more experienced by working with the 

FMAS to better help the SME community.” 

The MOU also lays out the principles of a 

Heartland Enterprise Award, an accolade 

which ASME will assist FMAS to set up 

and manage in the interim, which serves 

to encourage and honour micro and small 

enterprises that have sustained a successful 

and profitable business. 

The judging criteria for the Heartland 

Enterprise Award will be developed and 

structured in a manner that will serve as 

a platform to strengthen and grow SMEs. 

This will enable SME award recipients to 

upgrade and improve their businesses. 

“Whilst ASME can leverage on our vast 

network of merchants, FMAS at the same 

time can leverage on ASME’s experience 

and expertise in developing, planning 

and organising awards which they have 

successfully done so for The Entrepreneur 

of the Year Award as well as the Singapore 

Prestige Brand Award”, Mr Yeo Hiang 

Meng, President of FMAS commented. 

Both associations intend to achieve 

greater synergies through its members 

Heartland 

SMEs to tap 

on synergy 

through 

ASME’s 

and FMAS’ 

MIx, MEET AND MINglE 

Inter-Association Networking Night 2012 - Bringing people 

together to discover opportunities 

partnership 

and networks. FMAS represents about 

over 200 business luminaries 

from various industries 

let their hair down at the 

Inter-Association Networking 

Night 2012, organised 

Held within the premises of popular 

nightspot Zouk this year, this informal 

business networking session was 

honoured to have Mr Zaqy Mohamad, 

Member of Parliament for Choa Chu Kang 

Partnering Associations such as the 

Association of Electronic Industries in 

Singapore, Confederation of Indian 

Industry, Institute of Public Relations of 

Singapore, Social Enterprise Association, 

5,000 to 6,000 heartland shops all over 

annually by the Association of Small and Group Representative Constituency as Singapore Business Federation, Singapore 

the country which serve about 80 per cent 

Medium Enterprises (ASME). Back by the guest of honour. 

Institute of Building Limited, Singapore 

of the Singapore population, and is made 

up of over 30 merchant associations from 

various districts, and an extensive number 

of members and merchants. 

popular demand, this networking night 

received similarly overwhelming response 

when it was held last year. 

“I’d like to thank ASME for taking the 

initiative to bring the business associations 

together. This is certainly a great platform 

Indian Chamber of Commerce & Industry, 

Singapore Manufacturers’ Federation, 

and The Law Society of Singapore, gave 

great support to this event. 

Witnessing the MOU signing ceremony 

between ASME and FMAS, Mr Png 

Cheong Boon, Chief Executive of 

SPRING Singapore commented, “SPRING 

Singapore is pleased that ASME and FMAS 

are partnering together to reach out to 

the SME retailers in the heartlands. These 

SMEs would benefit from tapping business 

advice, networks and expertise of ASME to 

upgrade their capabilities.” 

Every year, this signature networking 

event aims to bring together a large 

variety of business professionals to 

network, expand their contacts, create 

business opportunities and develop 

lifelong friendships over an informal 

setting of dinner and drinks. 

“Networking is often an underutilised but 

essential and vital business opportunity. 

Hence, we want to create such 

for businesses to connect, and for 

associations to share ideas on bringing 

value to members especially in our everevolving 

global economy. Certainly, I’d 

also encourage businesses to proactively 

consider engaging in dialogue and 

develop propositions to the Government 

on improving our competitiveness, while 

building a sustainable and inclusive 

economy,” commented Mr Mohamad on 

the event. 

“I found the event successful, a good 

platform to know new friends and catch 

up with old pals,“ remarked Mr Jason 

Sim, Managing Director, Jason Parquet 

Specialist (S) Pte Ltd, one of the attendees 

that night. 

ASME will continue to create more 

of such networking opportunities as 

well as promote a conducive business 

Under the MOU, all FMAS members will be 

afforded free affiliated ASME membership, 

and in return, ASME will extend its 

networking events organised to FMAS’ 

members. Through this partnership, ASME 

and FMAS will also jointly organise events, 

and members of both associations are able 

to expand their network, to interact and 

explore business opportunities. 

opportunities for SMEs to gain more 

exposure, for them to mix and meet 

with other commerce and expand their 

network,” said Mr Justin Shen, Member 

Relations Manager from ASME. 

The main sponsor for the night, 

cxSurbana, together with co-sponsors, 

DBS, VISA as well as Starhub, helped 

made the eventful night an enormous 

success. 

environment for SMEs, bringing together 

business leaders from various associations 

and industries to interact, share ideas 

and exchange pointers with one another. 

Ev E n t s 

sE p | Oc t 2012 


7

8 

Ev E n t s 

ProPak Asia 2012, organised by Bangkok Exhibition 

Services (BES), was held at BITEC, Bangkok, Thailand 

from 13 – 16 June 2012. This year’s edition was ProPak 

Asia’s biggest ever and saw a 26 per cent increase in size from 

last year. The trade fair occupied over 30,000 square metres, 

or five halls of BITEC, and brought together 1,525 participants 

from 40 different countries and 12 national pavilions from 10 

REvAC, TENAgA 

& gREEN ENERgY 

ASIA 2012 

With over 500 exhibiting companies from 38 countries, 

many industry professionals from both the local and 

international markets were all geared up for Revac, 

Tenaga & Green Energy Asia 2012. Organised by United 

Business Media (M) Sdn Bhd, Revac, Tenaga & Green Energy 

Asia 2012 was part of the region’s largest mechanical and 

electrical engineering event – ASEAN M&E Show 2012. 

Held at the Kuala Lumpur Convention Centre from 26 - 28 

June 2012, the show attracted about 12,000 buyers including 

manufacturers, distributors, refrigeration consultants, developers 

and maintenance managers from around the region. Specifically 

designed as a purely business-to-business event, the show 

is held concurrently with the 4 th Regional Refrigeration, Air- 

Conditioning and Ventilation Technology Conference 2012 as 

well as the 2 nd Green Energy, Technology & Innovation Summit 

where industry professionals obtained updates on the latest 

trends and issues within the eco-system. 

This year, a total of 14 companies participated under the 

Singapore Pavilion, led by the Association of Small and 

sE p | Oc t 2012 


PRoPAK ASIA 2012 

countries/regional groups: Belgium, China, France, Germany, 

Korea, Japan, Singapore, Taiwan, UK and the USA. 

The Singapore Pavilion, led by the Association of Small and 

Medium Enterprises (ASME), comprised of 14 companies 

covering a total of 258 square metres. “This is the first time 

we are participating at this show, and we are very happy and 

satisfied with the outcome of this show. We have received 

several enquiries about our product”, said Ms Sandra Kuah, 

Accounts Manager of Motion Solution. Many of the exhibitors 

sold their products and equipment on site as well, and all 

exhibitors were impressed by the excellent turn-out at the 

event, and look forward to an even greater event next year. 

ProPak Asia serves as an important platform where ideas 

can be exchanged and knowledge shared, ensuring that the 

industry is updated with the latest technology and news. The 

show attracted 35,696 trade visitors from 63 countries, with a 

12 per cent increase of overseas attendees from last year. The 

show’s stellar results further confirm its position as Asia’s No. 1 

trade event for the food, drink, pharmaceutical processing and 

packaging industries. The next upcoming ProPak series will be 

held in Vietnam on March 2013. 

Enterprises (ASME), and they were generally satisfied with 

the show’s turn-out. Mr Sunny Chua, manager of Tech United 

Air-Conditioning and Electrical Contractors was especially 

impressed. “The target market was well met and the visitors are 

very specialised – project engineers, owners and developers,” 

he added. 

Trade visitors also shared the same sentiments. Mr Henry 

Trillanes from the Philippines said, “I was very satisfied with this 

show as it is a one-stop centre to purchase relevant products 

and obtain industry information.” Many visitors look forward to 

having an even larger scale event next year. 

Ev E n t s 

sE p | Oc t 2012 


9

EDc cO r n E r 

Despite the specter of economic 

uncertainty looming over the 

business environment, the spirit 

of enterprise is still well and alive in modern 

Singapore. According to the Global 

Entrepreneurship & Development Index 

(GEDI) 2012 listing by George Mason 

University’s Centre for Entrepreneurship 

and Public Policy, Singapore is ranked 

12 on an extensive list of 79 different 

nations, placing higher than countries 

such as Hong Kong, France and Japan 

in terms of the ease of doing business. 

However, starting a business is still not a 

walk in the park, and aspiring entrepreneurs 

can use all the help they can get. 

Mr Tan Jun Wei is a full-time undergraduate 

student at the National University of 

Singapore with a slight difference: he 

runs Fix Online, an online outfit selling 

nuts, bolts and any other items related 

to tooling. More than just a passing fad 

or hobby, Mr Tan has had his business 

registered with the Accounting and Corporate 

Regulatory Authority (ACRA) and 

GeBIZ, but is still confined to the online 

realm of Facebook (www.facebook.com/ 

fixonline) as his primary avenue and outlet 

of business. 

In addition to the limited visibility of his store, Mr Tan also has 

the problem of storage facilities for the variety of his thankfully 

non-perishable items. Customer demand for his products 

is also unpredictable, with many preferring to purchase their 

hardware from physical retail outlets for ease and convenience, 

even if he provides some level of advisory assistance. Mr Tan 

knows that in order to improve his business, he has to generate 

more awareness for his service in the general public, to educate 

his target market that he provides hardware advice along with 

sales of the actual product required. 

The EDC@ASME came to his aid after receiving an advisory 

request from Mr Tan. During the meeting with a business advisor, 

Mr Tan was first briefed on the many grants available for 

entrepreneurs like himself to tap on, and then narrowed down 

to the specific grants which will be most conducive to his business 

needs. The business advisor shared with him information 

The NuTs aNd 

BolTs of sTarTiNg 

a BusiNess 

Aspiring entrepreneurs can get a head start in their 

businesses, with valuable assistance from the EDC@ASME. 

on the recently revamped Innovation and Capability Voucher 

(ICV) which can be used to upgrade the service quality and 

management levels for his current platform of doing business. 

In addition, grants such as the Productivity & Innovation Credit 

(PIC) and iSPRINT were offered as long-term considerations 

in terms of staff upgrading or equipment purchases for a fullfledged 

shopfront in the future. 

In all, Mr Tan received comprehensive advice from the business 

advisor, who possessed excellent knowledge of the grants 

available to help entrepreneurs and also had the patience to 

both explain and clarify the many doubts he had. Down the 

road, Mr Tan hopes to make use of these government grants 

to eventually transform his online business to a physical shop 

space, fuelling the entrepreneurial spirit within him and pushing 

his business further. 

EDC@ASME 

Address: 167 Jalan Bukit Merah Tower 4 #03-13, Singapore 150167 

Operating Hours: Monday to Friday 9.00 AM to 6.00 PM 

Contact number: (65) 6513 0388 

Email: enquiries@edc-asme.sg 

ca l E n D a r Of Ev E n t s 

sE m i n a r s 

Building Your Business 

Fundamentals – An ASME 

Networking for 

Entrepreneurship Seminar 

26 September 2012 

The ASME Networking for 

Entrepreneurship Seminar aims to 

touch on the importance of building 

a strong foundation for a business, 

focusing on five fundamentals that 

make up the pillars of a business to 

ensure its sustainability and growth. 

Start-ups and entrepreneurs alike can 

learn about widening your network, 

finance/capital/cash flow, branding 

fundamentals, info-communications 

solutions for start-ups and intellectual 

property. 

FlexIgnition – learn about Flexible 

Work Arrangements and its 

Potential Benefits 

21 September 2012 

FlexIgnition – Possibilities Beyond 

Flexibility is a short course designed 

for HR Managers and Operations 

Managers/Supervisors who are 

considering Flexible Work Arrangements 

(FWAs) for their staff, the half-day 

programme will enable participants to 

evaluate the needs and readiness of 

the team for the implementation of a 

flexi-work arrangement. Participants 

can look forward to learning about 

designing FWAs that properly balance 

the work-life needs of the team while 

meeting vital business objectives. 

For event enquiries, please call +65 6513 0388. 

PS/ hvACR Asia 2012 

5 – 7 September 2012 

tr a D E fa i r s 

PS Asia 2012 in its 11 th staging is Asia’s most established premier 

international exhibition on Fluid, Air and Gas Handling Systems. This leading 

international event is set to take place at Marina Bay Sands, providing the 

most ideal marketplace for global manufacturers and suppliers to launch 

new products, reach out to buyers, appoint agents and distributors, build 

brand awareness and establish business networks in Asia. 

Automechanika Frankfurt 2012 

11 – 16 September 2012 

As the world’s largest trade fair for the automotive aftermarket, Automechanika 

spotlights innovations and solutions in the fields of parts, systems, tuning, 

workshop equipment, bodywork & paintwork, car wash, IT & management 

as well as the latest automobile services. The upcoming Automechanika 

series will be held from 11 to 16 September 2012 in Frankfurt, Germany. 

CAMhoTEl 2012 

10 – 12 october 2012 

The biggest names in Cambodia’s hospitality industry will once again 

gather at CAMHOTEL 2012 – Cambodia’s Largest International Hospitality 

Supplies Event when it opens at the Diamond Island Exhibition & Convention 

Centre in Phnom Penh. Hosted by the Cambodia Hotels Association and 

the Cambodia Restaurants Association with the support of the Ministry of 

Tourism, CAMHOTEL 2012 will be even bigger than the inaugural event 

in 2010 and is set to feature over 250 participating companies with an 

expected 12,000 trade visitors. 

vietBrew & vietDrink 2012 

10 – 12 october 2012 

VietBrew 2012 & VietDrink 2012 are some of the biggest expo and 

conference events for the fast-growing brewery and drink industry in 

Vietnam. It will be held at the Saigon Exhibition & Convention Centre in Ho 

Chi Minh City. Over 200 leading providers of brewery and drink technology 

& solutions from Germany, Europe, the US, Taiwan, China and Singapore 

will be exhibiting at this show. 

sE p | Oc t 2012 

sE p | Oc t 2012 



11

Celebrating 

Entrepreneurial 

Excellence 

The 24 th Entrepreneur of the Year ~ A Rotary- 

ASME Award has once again honoured 

outstanding forays into the dynamic realm of 

business 

A 

pinwheel is a simple contraption: 

a bladed wheel attached to a 

shaft via a pin in the hub, steadily 

spinning as the curved blades catch the 

wind, creating a beautiful and complete 

circle. For many, the pinwheel represents 

nostalgic memories from childhood. 

For the Entrepreneur of the Year ~ A 

Rotary-ASME Award 2012 (EYA 2012), 

the pinwheel is the personification of 

the 360 degree entrepreneur – versatile, 

passionate and multi-faceted. 

unearthing many entrepreneurial gems 

that might have otherwise remained 

hidden. Co-organised by the Association 

of Small and Medium Enterprises (ASME) 

and the Rotary Club of Singapore, the 

Award has over the years established 

itself as a prestigious business accolade 

that celebrates brilliant entrepreneurship 

on a national level. 

Coming in as the main sponsor for the 

11 th year running, OCBC Bank remains 

resolute in its commitment in aiding SMEs 

and entrepreneurs alike. The Award is 

also graciously supported by Infocomms 

Partner - Starhub, Official Cognac – 

Martell, Innovation Partner – Lexus 

and Strategic Partner – Noble Group. 

IE Singapore and SPRING Singapore 

have also continued to be supporting 

organisations for EYA 2012. 

This year, 13 remarkable individuals from 

12 companies have been accorded 

the title of Top Entrepreneur for EYA 

2012. They have proven themselves to 

be passionate about their businesses, 

dedicated to improving productivity 

sE p | Oc t 2012 

sE p | Oc t 2012 



A 

As the Award theme this year, the 

pinwheel is constituted of many tiny 

triangles, each playing its small yet 

important role in forming the overall shape 

of the pinwheel. These minute elements 

are akin to the qualities possessed by 

entrepreneurs: determination, passion, 

perseverance, etc., all harnessed to be 

able to continue spinning triumphantly in 

the winds of change that characterises 

the modern business environment. 

For the 24 th year running, EYA has 

consistently recognised and brought 

deserving entrepreneurs to the fore, 

sp E c i a l 

while still bearing in mind the importance 

of social contribution. They have also 

successfully integrated technology into 

current business processes as well 

as conducted extensive research and 

development in order to bring their 

businesses to the next level. A number 

of the Top Entrepreneurs this year are 

also 2 nd or even 3 rd generation business 

successors who have successfully 

steered their companies onto the most 

effective path for the future. Although 

the Top Entrepreneurs hail from different 

industries and market sectors, all of them 

are united by their spirit for enterprise. 

13

14 

sp E c i a l 

Top Entrepreneurs of EYA 2012 

Mr Benjamin ong Jin Kuan, 

Alliance 21 Pte Ltd 

• 

Mr Peter ong Chee Kian, 

Building Resources Industries Pte Ltd 

• 

Mr Francis Koh, 

Capita Pte Ltd 

• 

Mr Chia Chor Meng, 

CKL Holdings Pte Ltd 

• 

Mr lim Yew Soon, 

EL Development Pte Ltd 

• 

Ms Janna lam, 

IP Mirror Pte Ltd 

• 

Ms Tessa lam, 


• 

Mr Benjamin lim, 

iwa Design Pte Ltd 

• 

Mr vinod Menon, 

MindWave Solutions Pte Ltd 

• 

Mr Jovan Yap, 

Moh Seng Cranes Pte Ltd 

• 

Mr Neo Kah Kiat, 

Neo Group Pte Ltd 

• 

Mr Bon Ween Foong Thomas, 

OKH Holdings Pte Ltd 

• 

Mr Ronald h S lee, 

PrimeStaff Management Services Pte Ltd 

EYA 2012 overall Winner and 

Sub-Category Award Winners 

overall Winner of EYA 2012 



• 

Winner of EYA for Enterprise 

Mr Neo Kah Kiat, 

Neo Group Pte Ltd 

• 

Winner of EYA for Info- 

Communications Technology 

Ms Janna Lam & Ms Tessa Lam, 


• 

Winner of EYA for Innovation 

Mr Benjamin Lim, 

iwa Design Pte Ltd 

• 

Winner of EYA for Social Contribution 



• 

Winner of EYA for gen-Z 

Mr Lim Yew Soon, 

EL Development Pte Ltd 

sE p | Oc t 2012 


The Award Journey Begins 

Submissions for the EYA 2012 began 

in early April 2012, and a slew of 

companies put forth their proposals for 

consideration. Coming from a wide range 

of industrial backgrounds, the candidates 

submitted well thought-out proposals 

supported with clear examples of their 

business models and philosophies. The 

Award Secretariat had a hard time sieving 

through the veritable sea of proposals to 

determine the final shortlist for this year’s 

Top Entrepreneurs. 

Nonetheless, the submission proposals 

were only the start. Beginning right after 

the initial shortlisting of potential Top 

Entrepreneurs, the Award Organisers and 

Secretariat began to conduct interviews 

and site visits to the various candidates’ 

premises. Bringing with them rigorous 

questions which ran through every 

aspect of the candidate’s business, the 

Award Organisers who conducted the 

site interviews were from both ASME 

and the Rotary Club of Singapore, 

comprising SME owners, businessmen 

and key decision-makers who are able 

to best appreciate the rudiments of an 

enterprise. 

They listened intently to the candidates 

as they explained their business models, 

described their entrepreneurial journeys 

and elaborated on their future plans 

for their companies. At the end of all 

the interviews and visits, the Award 

Organisers convened, deliberated 

and finally determined the 13 Top 

Entrepreneurs for EYA 2012. 

unveiled for the First Time 

Hailing from their respective industries, 

these 13 remarkable individuals have 

demonstrated excellence in their chosen 

fields, placing emphasis on innovation 

to navigate through trying times, while 

remaining true to core entrepreneurial 

traits like hard work, resilience and social 

contribution. On 24 July 2012, the Top 

Entrepreneurs were revealed to the 

media and the public through an official 

press conference, where they were 

presented with a certificate to mark their 

achievement and finally got to meet with 

their fellow Top Entrepreneurs. 

However, their Award journey had not 

ended. On 1 August 2012, the Top 

Entrepreneurs were chauffeured in official 

cars generously provided by innovation 

partner Lexus, to the Final Judging held 

in the Boardroom of Marina Mandarin 

hotel. In front of a distinguished panel of 

judges which included top management 

from the sponsors, government agencies 

and educational institutions, the Top 

Entrepreneurs steeled themselves for 

an intensive interview session with the 

judges, who scoured through all aspects 

of the Entrepreneurs’ business models. At 

the end of the day, the EYA 2012 Overall 

Winner and winners for the five Sub- 

Category Awards have been decided. 

Culmination of Efforts 

After almost six months encompassing 

submission, interviews and the Final 

Judging, the Top Entrepreneurs were 

finally honoured and celebrated at the 

Award Presentation Ceremony held 

on 31 August 2012 at the Ritz Carlton 

Grand Ballroom. A formal black tie event, 

more than 500 business associates, 

partners and media personnel were 

present to collectively congratulate the 

Top Entrepreneurs as they received 

the distinctive Entrepreneur of the Year 

Award trophy from the evening’s guestof-honour 

Mr Lawrence Wong, Senior 

Minister of State for Education, and 

Information, Communication and the 

Arts. 

“More entrepreneurs are needed to tackle 

the challenges of rising costs, increasing 

worker productivity and finding new 

niches and markets to be in the forefront 

of business enterprise. Tonight, we are 

gathered to honour the companies and 

the individuals who have accepted the 

challenge and done exactly this,” said 

Mr Chan Chong Beng, President of the 

ASME, during the Award Presentation 

Ceremony on honouring excellent 

entrepreneurial practices. 

The night was also peppered with an 

electrifying performance from Japanese 

taiko drum group TENKO, a soothing 

medley of hits from homegrown jazz singer 

Dawn Ho as well as a humorous comedic 

routine from actress/director Michelle 

Chong, who spiced up the evening with 

her by-now-famous Barberella persona. 

However, the highlight of the evening 

had to be the unveiling of EYA 2012’s 

Overall Winner and Sub-Category Award 

Winners. As the host, Otelli Edwards 

prepared to announce the Overall 

Winner, the Top Entrepreneurs visibly 

braced themselves for the news, this 

final accolade another testament to their 

entrepreneurial prowess. After many 

tense seconds, Mr Chia Chor Meng, 

Chairman of CKL Holdings, was crowned 

Overall Winner of the Entrepreneur of the 

Year Award 2012, proudly receiving the 

trophy from the waiting hands of Senior 

Minister of State Mr Lawrence Wong. In 

addition, Mr Chia also bagged the EYA 

for Social Contribution Sub-Category 

Award, bringing home a total of two 

additional accolades to his title as Top 

Entrepreneur. 

With their respective wins, their Award 

journeys have come to a complete close. 

However, their renewed entrepreneurial 

journeys have just begun. 

Entrepreneurs’ Digest wishes all Top 

Entrepreneurs of EYA 2012 the very best 

in their future endeavours. 

sp E c i a l 

sE p | Oc t 2012 


15

New frontiers. 

Opening new markets. Driving innovation. Pushing boundaries. 

With the relentless spirit of pioneers. 

Noble Group Limited 

18th Floor, MassMutual Tower, 38 Gloucester Road, Hong Kong 

Tel +852 2861 3511 Fax +852 2527 0282 

www.thisisnoble.com

18 

cO m m E n ta r y 

WE All NEED To BE 

ENTREPRENEuRS NoW 

A key undertaking in these trying times 

It says a lot about the enhanced 

status of the entrepreneur that one of 

the best-selling books of 2011 was 

the biography of the recently deceased 

Steve Jobs. This success was, of course, 

partly due to the huge popularity of iPods, 

iPads, iPhones and other products made 

by Apple, the company Jobs came to 

embody. But it is also indicative of the 

increasing fascination with and glorification 

of “the entrepreneur”. Suddenly, it seems, 

everybody wants to be one. Moreover, 

commentators, policymakers and even 

politicians of all sorts hail entrepreneurs 

as the saviours of the world economy. 

So, how do you get to join this pantheon? 

The good news is that there is no set type. 

A new book entitled Growth in a Difficult 

Decade and based on interviews with 

sE p | Oc t 2012 


more than 60 successful entrepreneurs 

reveals that they come from all corners of 

the globe, from all kinds of backgrounds 

and are active in a wide variety of business 

sectors. However, it is true that they tend 

to share certain attributes. 

For example, entrepreneurs need to be 

dedicated and persistent. They also need 

to have a positive attitude and be prepared 

to take tough decisions. It almost goes 

without saying that entrepreneurs are 

self-confident. Successful ones are not 

arrogant. They listen to customers and to 

people who have done the sorts of things 

they are seeking to do – often through 

having mentors. They are also ready to 

hire people who are better at certain 

aspects of the business than they are. 

But if they have an idea they will not be 

easily dissuaded from pursuing it. 

Indeed, one of the most common pieces 

of advice offered by entrepreneurs 

to others thinking of following in their 

footsteps is not to hesitate about getting 

started. It might be valid to start a new 

business as a side-project to your day job 

just to test the idea. But generally running 

a business is so all-consuming and 

unpredictable in its time demands that it 

is best to devote yourself to it as soon as 

possible. After all, the chances are that if 

you have thought of an idea somebody 

else has or will as well. If you waste time 

pondering whether to give it a go they 

could beat you to market. Many more 

entrepreneurs regret not starting sooner 

than wish they had waited longer. 

One key reason for starting a 

business early is that when you 

are young you have less to lose in 

terms of a career, house, savings 

and the like. Moreover, with all 

the emphasis on encouraging 

enterprise, there is also a lot of 

support for young entrepreneurs. 

Many business schools have courses 

aimed specifically at would-be 

entrepreneurs, while even 

schools and universities are 

introducing students to the 

principles of enterprise. 

Nor should would-be 

entrepreneurs necessarily 

be put off starting out in 

the current economic 

climate. It is generally 

acknowledged that 

a business that can 

survive tough times 

should prosper when 

conditions improve. 

There is also likely to be 

less competition. 

Many people are worried 

about the technicalities and 

the financial aspects of running 

a business. But this need not 

be such a problem. Thanks to 

the internet, there are all sorts 

of cheap and scalable services 

that can help with everything 

from building a website and 

writing a business plan to setting 

marketing targets and organising 

the payroll. Moreover, because 

of the increasing willingness of 

individuals to invest in start-ups 

– whether through established 

funds or increasingly common 

“crowdfunding” models – 

entrepreneurs are no longer so 

reliant on banks for funding. 

Much is made of the importance 

of innovation. However, as Jim 

Clifton, chairman of the polling 

organisation Gallup, says in 

his book “The Coming Jobs 

War”, critical though innovation 

is, “it plays a supporting 


role to almighty entrepreneurship”. 

This is because – thanks to all the 

attention it has received – there is a 

“worldwide oversupply of innovation” but 

entrepreneurs are rare. 

Steve Jobs, it has often been pointed 

out, was not so much an inventor as an 

adapter of technology. His gift – like that 

of many successful entrepreneurs – was 

seeing a potential market for something 

before others. It is often said that 

businesses need to respond to customer 

needs and wants. And that is true. The 

business of business is to satisfy, even 

delight, customers. But the strength 

of Apple has been that it anticipates 

customer desires. 

The Steve Jobs-es of the future will take 

that lesson to heart. They will have the 

vision to see opportunities that others do 

not, the zeal to do what it takes to make 

that vision a reality and the determination 

to keep growing, even when lesser 

mortals might feel they had already 

achieved and accumulated enough. 

As Luke Johnson, the entrepreneur 

and investor, says in his Financial 

Times column offering advice to 

entrepreneurs: “Entrepreneurship is 

not a job, nor even a calling – but a 

hunger.” 

Mark Dixon 

CEo and Founder 

Regus 

sE p | Oc t 2012 


19

20 


SMAll BuSINESS EThICS 

The More Things 

Change, The More 

They stay The same 

The world of small business is constantly evolving. 

Technology has changed everything, turning local shop 

owners and service providers into global merchants, 

and a new focus on social responsibility means that if you own 

a business it is not enough to sell a product and make a profit. 

These days you need to do so in a way that improves – or at 

the very least does no harm to – the world around you. 

With these changes, ethics have come to the forefront of small 

business discourse in 2012. Integrity, honesty, empathy, trust 

and transparency were key traits for operating a business in the 

past, but in the new world of tech toys, climate change, and the 

fight for fair wages, do these ideals still hold up? The answer 

is yes, but many small business owners miss opportunities 

to engage these core principles in the face of rapid change. 

With this in mind, business owners can address three focused 

areas that pose ethical challenges in today’s world: 

• Social responsibility 

• Building a culture of service 

• Sourcing of ethical products 

Social Responsibility 

Excellence in business used to be defined by profit. These days 

success is measured by profit as well as quality of life for the 

business owners and staff, positive impact on the community, 

and positive impact on the environment. Any business that 

neglects these areas does so at their own peril, as buyers have 

a higher level of awareness than they have ever had in regards 

to social issues. 

Becoming socially aware as a company is a simple process. 

Find a local cause to support, one that is in alignment with your 

company’s mission. Evaluate your products and processes to 

sE p | Oc t 2012 


ensure that they are ethically compatible with 

your values; take a honest look at how you 

treat your staff, your customers, and your 

stakeholders – are you doing all you can to 

promote growth, development, and socially 

responsible values? If not, you’re missing an 

opportunity to make a positive impact while 

avoiding important ethical issues. 

A Culture of Service 

The need to treat customers well has always 

been imperative for entrepreneurs. This is 

hardly new, but with online sales and an 

increased distance from the customer, it’s 

easy for business owners to forget about 

the need for transparency and courtesy in 

service delivery. 

Some might ask, “Why should I bother to 

go out of my way for a customer when I’ll 

never see them face-to-face?” There are a 

number of answers to this question, not the 

least of which is that it is the right thing to do; 

people deserve to be respected and treated 

well. It is also critical to recognize that the 

internet increases competition dramatically. 

Neglect your customers and someone else 

will happily take care of them. 

Your ethical responsibility as a business 

owner to provide good service does not 

change just because your customer might 

be based in another region. In fact, in the 

online world, it is even more important 

to step up and truly “wow” your clients – 

perhaps stories of your exceptional service 

will go viral and bring you a flood of sales! 

This culture of service extends beyond the 

customer to staff, partners, and all interested 

stakeholders. Treat everyone in your sphere 

of influence well and you will reap the 

rewards through increased referrals, loyal 

staff, positive brand imaging, and a clear 

conscience. 

Sourcing of Ethical Products 

With every great deal comes the potential for 

an ethical dilemma. These days it is possible 

to source products and services from all 

over the world with nothing more than a 

laptop. In pursuit of the cheapest product, 

however, how do you know if that product 


meets the ethical standards of your business 

and your customers? Asking a few simple 

questions of your suppliers can give you all 

the information you need to follow your own 

ethical guidelines and please your buyers. 

If you sell a product, find out who makes 

it and how it is made. Your customers 

expect you to be an expert in your field of 

expertise, so do not be afraid to dig deep 

and understand where your products come 

from. If they are made in a country where 

workers are exploited, or if it’s made from 

materials you disapprove of, find another 

supplier. 

If you sell a service, look at the materials 

you use in the delivery of that service and 

evaluate if they meet your standards. 

For example, printing companies can use 

environmentally friendly materials, and a 

taxi service can carry only hybrid or electric 

automobiles. Just because your business 

might be service based, it does not mean 

you cannot use service providers who are in 

alignment with your ethical values. 

There is no question that the world moves at 

a remarkable pace. As a business owner, it 

is important to recognize that no matter how 

much things change, the pillars of ethical 

business ownership stay the same. Integrity, 

honesty, empathy, transparency, and trust 

matter as much now as they ever did. If you 

apply these traits to your online interactions, 

identify ways to build a socially responsible 

business, and focus on suppliers who can 

deliver fair trade products, it means that you 

will be serving your customers, staff, and 

suppliers well while maintaining a strong 

ethical foundation for your business. 

Paul de Burger 

Associate Consultant 

d’oz International 

d’oz International 

sE p | Oc t 2012 


21


SINgAPoRE’S 

PoPulATIoN, SMES’ FuTuRE 

The quality of the workforce lies in 

the people of the nation 

One of Singapore’s greatest 

challenges as a nation is its 

declining birth rates, its shrinking 

workforce, and its ageing population. In 

view of these, policies have constantly 

been revised and improved to keep up 

with the demographic and economic 

changes in Singapore. 

According to a recent Issues Paper 

published by the National Population and 

Talent Division, Prime Minister’s Office, 

foreigners in Singapore make up 43 per 

cent of the non-PMET (Professionals, 

Managers, Executives and Technicians) 

workforce. This group of workers 

comprise of low to semi-skilled workers. 

This group of workers is vital to many 

businesses across a spectrum of 

industries, and access to such workers 

has helped to keep business costs 

lower for many of the small and medium 

enterprises (SMEs), ensuring their 

competitiveness on the regional and 

global fronts. 

A Focus on Productivity 

Over the years, government policies 

implemented are in line with the call for 

local companies to improve productivity. 

With the announcement of Budget 2012 

and further adjustments to the foreign 

worker quota, it has become a pertinent 

issue amongst SMEs when it comes to 

labour matters, business sustainability 

and profitability. On top of that, with a 

shrinking and ageing population, the 

pool of local labour available to SMEs is 

limited. 

As the Paper highlights, productivity 

enhancements can reduce, but not 

completely eliminate, the need for foreign 

workers in sectors that are reliant on 

foreign labour. The shortage of these 

workers might inevitably cause costs to 

rise and service levels to suffer, which 

ultimately has negative impact on SMEs’ 

competitiveness. 

sE p | Oc t 2012 


23

24 


on local and Foreign Talent 

In addition, there have been several 

controversies regarding intense job 

competition amongst locals and 

foreigners. Foreigners today make up 

21 per cent of our PMET workforce and 

this group of them comprise of mid to 

higher-skilled workers, complementing 

Singaporean workers by bringing skills 

that help companies sustain and grow. 

Tighter restrictions have been placed 

since the rise of many concerns regarding 

this issue to ease the job competition. 

However, implementing overly restrictive 

foreign manpower policies could make 

it difficult for businesses to operate 

Beyond these, there are also many other 

government initiatives that have been 

rolled out to encourage more women 

and older workers to enter and stay 

in the workforce. To name a few, the 

Capability Development grant (CDG) 

was launched two years ago in 2010, an 

initiative by the Workforce Development 

Agency (WDA) and is administered by 

ASME, was specially designed for SMEs 

to help them put in place human resource 

(HR) systems to facilitate practices in 

preparation for the Re-employment 

Legislation. An S$10,000 grant will be 

given to participating companies in this 

assistance scheme, which will help 

defray some of the costs to implement 

this HR system. 

On a more recent note, in a bid to 

promote work-life balance for women and 

mothers per se, the labour movement, 

sE p | Oc t 2012 


here, which could impact the livelihoods 

and jobs of Singaporeans if companies 

choose to relocate to other countries, a 

point that the Paper also raised. 

Several SMEs have already raised such 

a concern over the past few months, 

some even indicating that they are 

considering the option of relocating 

their operations overseas, to countries 

where their overall operational cost is 

lower, while others have considered the 

possibility of shrinking their operations in 

order to sustain their businesses. 

Examining the seriousness of this 

“A shrinking and ageing citizen workforce affects our ability to seize growth 

opportunities. A multi-pronged approach is thus required to sustain the 

economic vibrancy necessary to generate good employment opportunities 

for Singaporeans. Strategies include helping businesses to restructure and 

workers to upskill to improve productivity, encouraging more economically 

inactive citizens to enter the workforce, and supplementing the resident 

workforce with foreign manpower.” 

Issues Paper July 2012, National Population and Talent Division, Prime Minister’s Office 

National Trade Union Congress (NTUC), 

recommended working mums to be 

given six months of paid maternity 

leave, with another optional six months 

of unpaid leave. In addition, the Ministry 

of Community Development, Youth and 

Sports (MCYS) announced that recent 

amendments to the reimbursement of 

claims for Government Paid Maternity 

Leave (GPML), making it more flexible for 

companies and self-employed women to 

make more timely claims. 

To narrow the gap between SMEs and 

PMEs, the Max Talent scheme that was 

launched in April this year is a doubleedged 

initiative, aimed on the one hand 

– to enhance SMEs HR capabilities, to 

retain and attract local talents and PMEs, 

a challenge that many SMEs have raised, 

while on the other hand – for PMEs to 

secure gainful employment. SMEs can 

population trend, which has far-reaching 

effects to the social and economic future of 

Singapore, it is thus important to develop 

and implement policies and programmes 

to address the consequences. 

An Integrated Approach 

As part of the government’s initiative to 

better implement more multi-pronged 

policies, a dedicated website was 

launched to discuss all things population 

related. This includes areas ranging from 

supporting marriage and parenthood and 

managing immigration, to encouraging 

integration and promoting productivity. 

offer many interesting and challenging 

career opportunities for PMEs, a fact that 

is often not known to some job seekers. 

The Max Talent scheme is another WDA 

initiative, administered by ASME. 

In Conclusion 

As we continue to face the challenges 

and effects of a shrinking and ageing 

population, it is highly important for SMEs 

to embrace these structural changes, 

adapt and seek information and help 

on what is best for their companies 

out there in the market. It is also good 

for SMEs to participate more actively in 

feedback channels and forums, to give 

their feedback and insights on challenges 

they have encountered to the various 

government agencies, and provide 

rational advice on how to better raise 

productivity and improve labour force 

participation in Singapore. 

For more information on Max Talent, please contact the Max Talent secretariat at sme.maxtalent@asme.org.sg 

For more information on the Capability Development Grant, please contact prepare@edc-asme.sg 

Composition of Foreign Manpower 

(Excluding Foreign Domestic Workers) by Sectors 

Construction 

30% 

(292,500) 

Services 

43% 

(427,000) 

Others 

0.4% 

(41,000) 

Manufacturing 

27% 

(268,000) 

Composition of Singapore’s Total Workforce 

As at December 2011, our total workforce was 3.02 million, excluding foreign domestic 

workers. Residents (i.e. SCs ard PRs) formed the majority of the workforce at 67%, with 

foreign workers making up the remaining 33%. 

More than half of the resident workforce were professionals, managers, executives and 

technicians [PMETs]. 

PMET 

Workforce 

Non-PMET 

Workforce 

Share of Foreign Workers in various sectors of 

Economy [Excluding Foreign Domestic Workers] 

( Dec 2011) 

Source: Ministry of Manpower 

Residents 

79% 

Residents 

57% 

Residents 

67% 

S Pass 

Holders 

4% 

EP 

Holders 

6% 

Work Permit Holders 

(Excluding Foreign 

Domestic Workers) 

23% 

Total Workforce (Dec 2011) : 3.02 million 

Source: Ministry of Manpower 

Non-Residents 

43% 

Non-Residents 

21% 

0% 20% 40% 60% 80% 100% 

Source: NPTD’s estimates using data from Ministry of Manpower; Non-residents and 

PMETs comprise EP and S pass holders.

26 


SMEs and BuSinESS 

EthicS – do thEy go 

hand in hand? 

There is no surefire way of doing business 

ethics, but it has to be done 

What is unethical may not 

necessarily be illegal and what 

is legal may not necessarily be 

ethical. Business ethics is not written in 

any code of law and is practised based 

on moral values and judgment. To sum 

it up, business ethics is “doing the right 

thing.” There is no formal reference for 

“doing the right thing” in business. 

Here are three tips to align your business: 

• Will your decision result in harm to 

your stakeholders? 

• Will your decision cause social 

disharmony? 

• Will your decision cause benefit at 

the expense of others? 

If the answer is yes to any of the above, 

think twice. 

Business ethics can come in the form 

of how a small and medium enterprise 

(SME) owner applies aspects of 

business conduct, such as how they 

treat employees and suppliers to sales 

techniques and accounting practices. 

Business ethics is relevant both to the 

conduct of individuals and to the conduct 

of the organisation as a whole. 

In embracing best practices where they 

make sense, SME owners and managers 

are able to distinguish their SME from the 

competition. They also have an incentive 

to adopt the discipline of responsible 

business conduct to create a wider 

commercial network. 

sE p | Oc t 2012 


Achieving a strong business ethics 

foundation 

The overall goal of business ethics is that 

it is practiced consistently by everyone in 

the company. How can your people act 

ethically? 

• Strong leadership – traditional SME 

owners want to do everything by 

themselves, from selling, accounting 

to advertising. Proper empowering 

of employees will lead to continuous 

improvement and overall increase in 

motivation when trust is put into action 

by the leader. 

• Proper bookkeeping – a “handson” 

approach to recordkeeping will 

remove doubt and questionable 

undertakings, plus it will demonstrate 

the level of company progression. 

• Fulfill customer requirements – 

having a powerful trust with all your 

customers will lead to a strong competitive 

advantage in your market 

and will filter a positive image within 

your staff. Many companies make the 

mistake of only confronting unethical 

conduct once a crisis has arisen. A 

reputation takes years to develop, 

but can be lost overnight following an 

ethical lapse. 

• Broadcast an ethical company 

image – evaluate all your current 

marketing materials to ensure they 

are professional, clear and do not 

misrepresent you. 

• get involved in the community – 

Larger companies call it Corporate 

Social Responsibility. For SMEs it 

means to embrace responsibility in 

the local community to encourage a 

positive impact through its activities 

to the public. 

Business ethics, key to business 

growth and sustainability 

SMEs must focus consistently on “doing 

the right thing.” It is good for staff morale 

to work in an open culture, with possible 

benefits of increased productivity and 

staff loyalty. These are vital in the current 

climate particularly in a high-pressure 

environment. 

An organisation known for fairness is 

likely to attract high quality employees. 

Good relationships with customers 

based on a commitment to honesty and 

transparency will enhance a company’s 

reputation and ensure the integrity of 

their supply chain. 

Staff need support to do the right thing. 

Continuously enforcing ethical practices 

by offering training in solving ethical 

issues can help. Not only by giving 

practical tools, but also in coaching staff 

to issues and integrity risks which may 

arise. Decisions made by line managers 

or SME owners may affect individuals or 

entire communities. 

Consumers today expect and demand 

integrity, honesty, and transparency 

at all levels of their environment. 

Understanding those expectations through training is 

critical to communicating core values and behavior not 

only to employees, but to society in general. This means 

by going above and beyond compliance so the outcome 

leads to a more positive reputation to enhance worth. 

Creating an ethical business framework 

The benefits in embarking on an ethics policy are 

increased productivity, higher staff motivation and a better 

level of service offering. Before embarking on a workplace 

ethics program, SME owners must identify what is to be 

accomplished from it and how well it will integrate into the 

organisation. 

An effective ethics policy will also be based on a set of 

values. In SMEs, these values will inevitably be influenced 

by the personal and professional values and principles of 

the owner. The points below identify how a SME owner 

can analyse a potentially unethical situation and turn it into 

a positive one. 

• Is the situation worthy of consideration? 

• Who, what and how must be engaged in the 

process? 

• How are ethical goals to be achieved - can specialised 

training be implemented or audit advice? 

• What are the short, medium and long term goals to 

reduce unethical behaviour and increase awareness? 

At various stages in the process, the SME owner will 

ask is the situation legal – does it violate any criminal 

laws, is it balanced - is this win-win situation for 

those directly involved? Is it right - most of us know 

the difference between right and wrong, but when 

the pressure is on, would you like others to know you 

made the decision you did? 

A well-defined ethics policy provides the framework 

for ethical and moral behavior within your company. All 

employees should be made aware of the policy with 

effective communication, such as the commitments the 

organisation has made and the ethical behaviors that are 

expected of them as members of the organisation and 

how they can get support. Recognising the significance of 

business ethics as a tool for achieving business aims and 

setting objectives is only the beginning. 

A small business that instills a culture of business ethics 

within its strategies and policies will be evident among 

customers. 

lim Meng Tzee 

Director, Business Consultancy Division 

loyal Reliance

28 

cO v E r st O r y 

sE p | Oc t 2012 


If there is a word that can sum up the local property market, it would have 

to be “cyclic”, since market trends go back and forth on a near-regular 

basis. Property prices may surge this quarter, but may also experience 

a stark decline in the coming one. Dealing in real estate is therefore an 

inexact science, a process which entails empirical grounding as well as 

a keen working sense of the industry at large to truly achieve excellence. 

Despite his stellar success now, Mr William Wong, managing director of RealStar 

Premier Group Pte Ltd, has had his fair share of trials and tribulations during 

the budding stages of his entrepreneurial journey. Before establishing his own 

company, William essentially held three jobs: as a full-time systems engineer 

with a Japanese firm, as a part-time lecturer and also as a part-time real estate 

agent. After realising that his own resources were being stretched too thin from 

his multiple commitments, William decided to focus only on one core profession: 

a fully-fledged real estate agent, since to him, the limit to his earning in this field 

was wholly dependent on how high he himself wanted to go. 

Alas, it was not a walk in the park. Within 

the span of nine months, William only 

managed to close two deals, a meager 

performance by any measure. With 

the encroachment of bank overdrafts 

and other miscellaneous fees, William 

strengthened his resolve and did what 

he feared the most: door-to-door cold 

calling, the bane of any nascent real 

estate agent. 

Eventually, William’s diligence and effort 

paid off. He became his realtor firm’s top 

performing agent, raking in $350,000 

to $500,000 a year. He moved on to 

become a manager, and began the 

practice that would follow him into the 

founding of his own company: selective 

recruitment, the meticulous selection of 

the right candidate for the job. Instead 

of hoarding a large number of mediocre 

agents, William carefully interviewed and 

profiled his candidates, and only selected 

individuals who were able to fit into the 

team’s culture and be successful. As 

a result, William’s team performance 

surpassed that of the entire branch, 

and that was when he decided to do 

something different from anything else in 

the market. 

RealStar Premier was established in 

2001, and like most other agencies at that 

time, the company dealt in the sales of 

private, public housing as well as landed 

property. The company possessed a 

key differentiator: William continued his 

practice of selecting only the crème de 

la crème for the company, subjecting 

potential candidates to rigorous 

interviews and even personality profiling, 

an exercise that was near-unheard of at 

that time within the industry. 

With such stringent selection criteria, 

it is only rational to suppose that only a 

handful of the very best in the business 

will be shortlisted by William’s eagle-eyed 

vision. The opposite turned out to be 

true: from a start-up staff strength of 26 

associates, RealStar Premier blossomed 

to a team of more than 750 associates 

within one and a half years, partly due to 

a need to play the numbers game in order 

to compete with other mass market real 

estate agencies. 

Even if the recruited agents were all 

of the highest caliber, the increase in 

the number of sales agents did not 

necessarily translate into increased 

sales for the company. By the third year, 

William started to experience losses 

when the costs of operations began to 

rise as the company grew bigger, along 

with an excessive loss of productive time 

spent on managing the sheer number of 

real estate agents. 

If anything, William was adaptable. In 

2005, William bit the bullet and completely 

revamped RealStar Premier’s business 

model. From a mass market approach, 

William scaled back to focus only on 

the landed property sectors, eventually 

culminating in the extremely niche market 

of bungalow sales. On the staff front, he 

downsized the entire company from over 

700 staff to an elite 30. This proved to be 

the company’s turning point as RealStar 

Premier soon became the leading market 

cO v E r st O r y 

MAKING 

A DIFFERENCE 

Mr William Wong, managing director of RealStar Premier Group Pte Ltd, 

shares the importance of being dissimilar in a sea of similarity 

By James Tan 

player in bungalow and landed property 

sales in the prime central and eastern 

districts of Singapore. The company 

also experienced a whopping tenfold 

increase in sales from 2005 onwards, 

an outstanding achievement no matter 

which way it is looked at. 

“You must have the willingness to change, 

as well as a good understanding of one’s 

strengths and weaknesses,” William said, 

on the reasons for his success. This rings 

especially true in the modern business 

environment, where industry trends come 

and go like capricious winds, and the 

entrepreneur or practicing businessman 

must be able to adapt to these changes 

swiftly and effectively. 

“Perseverance is important and if one 

cannot compete in size, the next logical 

thing is to create a niche for oneself, 

which in this case proves to be the 

Leading Bungalow Specialist,” William 

added. 

With the selection as a Top Entrepreneur 

at The Entrepreneur of the Year Award 

2011~ A Rotary - ASME Award and 

an earlier win as a Promising Brand at 

the Singapore Prestige Brand Award 

2009, William’s entrepreneurial journey 

has come full circle since 2001. He 

will not rest on his laurels however; 

as he believes that entrepreneurs and 

businessmen must constantly evolve to 

become the best, regardless of changing 

circumstances and challenges. Only then 

will they be true stars in their respective 

industries, making a difference in current 

industrial trends and processes. 

sE p | Oc t 2012 


29

32 

cO v E r fE at u r E 

sE p | Oc t 2012 


ThE REAl ST R 

IN PREMIuM 

PRoPERTY 

RealStar Premier’s focus on 

personalised service has led it 

to become one of the leading 

players in the competitive 

property market 

The property market in Singapore 

can be generally broken down 

into three categories: private 

housing, public housing and landed 

properties. Each division has their own 

sub-categories as well as the required 

expertise to successfully market each, 

with varying techniques and specifications 

to consider. Then of course, there is the 

price factor, with the highest-end good 

class bungalows (GCBs) commanding 

the most premium of prices. 

In land-scarce Singapore, GCBs are 

some of the most coveted and exclusive 

properties. To define one, a GCB has 

to be at least 1400 square meters in 

size, and are found in 39 gazetted areas 

around the country including Nassim, 

Dalvey and Tanglin. In terms of quantity, 

there are only about 2400 GCBs in 

Singapore, but that does not mean that 

demand for these premium homes are 

lacking. From the second quarter of 

2012, there is still a notable market for 

such properties, with 11 deals worth 

$234 million inked so far. Indeed, the 

market for GCBs looks set to be buoyant 

at least for the foreseeable quarter. 

Property speculators consider premium 

properties in Singapore to be sound 

investments: low volatility with high 

returns. Apart from the much touted 

“location, location, location” adage 

favoured by many a real estate agent, 

numerous hidden costs and miscellaneous 

unseen fees will decorate the eventual 

bill of the inexperienced property buyer. 

This is especially pertinent if the house 

in question is a top-of-the-line bungalow 

boasting hotel-like five-star facilities set in 

a picturesque backdrop. Potential buyers 

need to be informed of such pitfalls before 

signing the check or inking the deal, and 

this is usually accomplished with the 

assistance of the realtor brokering the 

deal. 

RealStar Premier Group Pte Ltd is a niche 

real estate consultancy that specialises 

in the brokering of such GCBs and other 

landed properties. Founded by Mr William 

Wong in 2001, the company started out 

as a real estate agency like many others 

in the market, however differentiated by 

Mr Wong’s onus on selecting only the 

best candidates for the job. In 2005, 

RealStar shifted its focus from mass 

market appeal housing deals to the very 

niche and exclusive area of bungalows 

in the central and eastern districts of 

Singapore, placing great emphasis on 

innovation, dedication and above all, 

service with unrivalled personalised 

attention. 

As recent as May and June this year, 

RealStar Premier has successfully 

brokered transactions for houses on 

Chatsworth Road and White House 

Road for $30 million and $24.6 million 

respectively, just to name a few. The 

scarcity of GCBs has led many ultrahigh 

net worth individuals to invest in 

these top-grade houses, fully prepared 

to commit the cash if the facilities and 

prices are right. However, when it comes 

to such huge sums of money, the service 

of the realtor brokering the transaction 

is very important, and this area is where 

RealStar Premier comes into its own. 

The clients of RealStar Premier are usually 

very successful and wealthy individuals, 

the ones with the required liquid capital 

to invest in property worth upwards of 

millions of dollars per transaction. It is 

thus paramount for all realtors under the 

RealStar Premier brand to be on the top 

of their games, to be well-versed in their 

technical expertise, to know their products 

like the backs of their hands and also 

keep in close touch with market trends 

in order for them to deliver consistent, 

reliable and high quality service to win the 

trust of their high net-worth clients. Past 

clients have cited RealStar realtors to be 

cO v E r fE at u r E 

prompt, driven, thoughtful and willing to 

go the extra mile, taking care of minute 

details that would not be apparent to a 

non-realtor, ensuring that every dollar 

sunk into a property is worthwhile and 

justified. 

With over a decade of experience in the 

property line, RealStar Premier is more 

than able to assist potential investors in 

making prudent, sound and well-informed 

decisions, whether it is in buying, selling 

or leasing. Besides the bread and butter 

realtors, RealStar Premier also has a 

Design and Build subsidiary. The purpose 

of this department is to provide valueadded 

services to the RealStar customer 

in either renovating or rebuilding the 

landed homes they have purchased. In 

fact, before the customers commit to 

any property, they have the option to ask 

for an architect or builder to give them 

relevant advice so as to ascertain that 

they have indeed made a right choice. 

The company’s market portfolio consists 

of a large number of bungalows and other 

landed properties, in fact, the highest in 

the market. In addition to their excellent 

service, a wide range of housing options 

from terrace houses to the highest-end 

GCBs, there is bound to be something 

for the potential real estate investor or 

home buyer. 

Buying or selling that multi-million dollar 

premium home can be a taxing affair, let 

RealStar Premier assist you in your next 

decision. 

sE p | Oc t 2012 


33

34 

mO n E ysm a r t 

sE p | Oc t 2012 


Sense 

Allow your employees to acquire knowledge and skills to manage their day-today 

finances, make prudent investments and plan for their longer-term needs 

Financial literacy is an important facet 

of any business, since monetary 

transactions are still a critical 

component within any enterprise. While it 

is paramount for the key decision-makers 

to have a good grasp of their financials, 

the employees within the organisation – 

especially small and medium enterprises 

(SMEs) – can also stand to benefit from 

enhanced pecuniary knowledge. 

Why is the need for employees to 

have financial literacy important to 

SMEs? 

Well, the first thing would be educated 

employees who know how to juggle 

their income and expenses. There has 

been an increase in demand for financial 

planning services among employers: 

this means that the employer will fully 

pay for the financial planning services 

and this service is offered as a benefit to 

employees. 

gETTINg 

YouR EMPloYEES’ 

FINANCES RIghT 

“Employees equipped with financial 

literacy – the skills to make sound financial 

decisions for themselves and their 

families – are less likely to be burdened or 

distracted by personal financial matters 

while at their workplaces. As a result, they 

will be able to contribute more effectively 

to the growth and success of the SME,” 

said Dr Alex Lum, Director of the Institute 

of Financial Literacy, MoneySENSE – 

Singapore Polytechnic. 

• Employees’ efficiency 

Through good financial planning, 

employees and their families will 

enjoy greater peace of mind. With 

that, your employees are able to 

devote full concentration on their job, 

are not distressed due to financial 

problems, and are able to work 

effectively and efficiently during 

working hours. Bear in mind that if 

your employees are obsessing over 

their finances, it is difficult for them to 

be productive at work. 

• Employee retention 

Of course, the benefit of incorporating 

financial planning as part of an 

organisational culture does not 

directly have an effect on retaining 

your employees. However, the 

heightened awareness of the value 

of the employee benefits will help 

retain a valued staff. Furthermore, 

instilling confidence in the value of 

staying with the same employer will 

make your staff less likely to spend 

time and attention scouting for other 

jobs. 

• Corporate goodwill 

It can also be part of your corporate 

goodwill when your company 

advocates financial planning as part 

of your staff benefits. The sheer 

knowledge that your company takes 

good care of its people will be well 

appreciated by the employees 

themselves as well as their families. 

With the recent constant cycle of financial tsunamis and crises, companies can 

do more by coming out in front of all these and help their employees better 

manage their finances through these tumultuous periods. 

As your company processes the bonuses and Annual Wage Supplements (AWS) 

for employees, it is perhaps a good time to also educate them on managing their 

income, spending and debt, as well as set aside certain amounts for savings and 

investments. 

A nationwide financial education programme called MoneySENSE was launched by 

then-Deputy Prime Mininster Mr. Lee Hsien Loong on 16 October 2003, who was 

also the Chairman of the Monetary Authority of Singapore at that time. The primary 

purpose of MoneySENSE is to bring together industry and public sector initiatives to 

enhance the basic financial literacy of Singaporeans. 

The MoneySENSE Core Financial Capabilities were laid out to help consumers work 

towards managing cash flow, buying a home within their means, providing for their 

healthcare needs and having sufficient income for life. 

Selecting financial 

products suitable for you 

Planning ahead 

Five Core Financial Capabilities 

Understanding Money 

Investment 

know-how 

Financial planning 

Basic money management 

Managing everyday 

money 

Understanding yourself, 

your rights and 

responsibilities 

• Understanding Money 

Having the numeracy skills to evaluate the costs and benefits of options available, it is 

also about understanding how economic conditions can affect consumers. 

• Understanding yourself, your rights, and responsibilities 

Knowing how personal circumstances, like how much a person earns, his or her age, 

the number of children he or she has, affect his or her financial decisions. It is also 

important to know your rights and responsibilities as a consumer. 

• Managing everyday money 

Being able to budget, to live within one’s means and to use credit facilities responsibly 

(e.g. for major items like buying a home). 

• Planning ahead 

Being able to put together a financial plan to help one manage resources (e.g. income, 

debt, savings and investments) prudently. 

mO n E ysm a r t 

• Selecting financial products 

Understanding the purpose, features, 

risks and costs of common financial 

products (e.g. debit and credit cards, 

loans, insurance, and investments), the 

key factors to consider and questions to 

ask before deciding whether to take up 

a product. 

These core financial capabilities build 

on and complement the three aims of 

MoneySENSE, which are – basic money 

management, financial planning and 

investment know-how. 

The MoneySENSE – Singapore Polytechnic 

(SP) Institute for Financial Literacy will 

deliver financial education to equip 

Singaporeans with the core financial 

capabilities as aforementioned, for FREE. 

In order to provide your employees with 

the opportunity to learn more about how 

to manage their own finances better, 

the Institute is able to provide financial 

education programmes in various modes 

to cater to the various companies and 

agencies, including: 

• Talks and workshops brought to 

workplaces (e.g. offices and factories) 

– making it convenient for working 

adults to learn more about money 

matters. 

• Public talks and workshops 

conducted at public locations (e.g. 

libraries and community centres), 

making financial education easily 

accessible to consumers from all 

walks of life. 

• e-learning modules to cater to your 

employees who may prefer to learn 

online. 

MoneySENSE has over the last nine years 

published over 253 educational articles 

in the media, organised talks, seminars 

and workshops that have attracted over 

93,000 participants as well as issued 20 

consumer guides with a total circulation 

exceeding 2.2 million. 

With this educational initiative, your 

employees can have improved financial 

literacy which will help boost workplace 

productivity. 

For more information, visit http://finlit.sg/ 

sE p | Oc t 2012 


35

36 

pr O p E r t y 

sE p | Oc t 2012 


COMMERCIAL REAL 

ESTATE: THE PROS 

AND THE CONS 

The things to know for commercial 

real estate 

Commercial real estate is a great way to round out 

an investment portfolio, especially for investors 

who have been dealing only in residential 

properties. This brief guide lists some important 

pros and cons to help you maximise on your 

commercial property investment. 

ThE PRoS oF CoMMERCIAl REAl ESTATE 

variety: Commercial property investors can often 

choose from a wide range of commercial real 

estate in which to invest. Options include various 

office and retail spaces, car parks and industrial 

properties like warehouses and factories. Because 

of the wider variety on offer, an investor may be 

able to find a commercial investment that requires 

lower capital then some residential ones. 

The more the merrier: The value of commercial 

property is tied to the amount of net lettable area 

(NLA) - a measure of its usable square footage. 

A higher NLA directly translates into higher 

rental income. This is not always the case with 

residential properties. 

No maintenance costs: Generally, commercial 

lease agreements mandate that lessees are 

responsible for any maintenance and necessary 

repair costs, so landlords gain a higher “net 

income”. However, this is not set in stone, 

so always check the leasing terms of your 

commercial property to be aware of any 

maintenance costs that may be needed. 

Diversification of risks: Commercial properties 

are likely to attract many leasing arrangements 

with multiple lessees. This means that should you 

lose just one of, let’s say, 10 tenants, your income 

would have gone down by only one-tenth. In 

comparison, if the family you are renting out your 

apartment to decides to move out, it means a 

100 per cent income loss for you. 

higher cash flow: Commercial real estate often 

generates greater cash flow than residential 

properties because of 1) higher yield per square 

foot and 2) multiple lessees which provide many 

sources of income. Also, commercial properties 

often give better initial returns than residential 

ones, helping investors to regenerate capital 

quicker. 

pr O p E r t y 

Longer leases: A lease for a commercial space 

tends to run for longer periods - from 12 months 

to several years - as when compared to one for 

a residential space, which can last mere months. 

A longer lease term means greater cash flow 

stability and is advantageous for certainty of 

income. Also, it is customary for commercial 

leases to undergo yearly reviews. 

ThE CoNS oF CoMMERCIAl REAl ESTATE 

higher down-payment: Banks value commercial 

properties differently than residential real estate, 

so not all banks can cater to a commercial real 

estate loan request. Also, a higher down-payment 

of around 30 per cent or more is generally 

required. 

gST applies: In many countries, Goods and 

Services Tax (GST) is applicable on transactions 

involving commercial properties, so investors 

have to factor in that extra capital outlay. Some 

countries, however, allow you to claim back the 

GST amount against the GST charged on rent 

collected. 

Not for all: Some highly specialised commercial 

properties only appeal to a certain sub-segment 

of lessees, so the owner of such properties may 

find difficulty in securing suitable tenants. To 

avoid such a situation from arising, an investor 

would do well to choose properties with a wider 

appeal. 

Dependent on location: Related to the 

point above, a commercial property’s location 

can determine the success or failure of the 

investment. Some properties, like retail malls 

or even car parks, need good customer flow to 

attract tenants. This is not as acute a factor for 

residential properties. 

higher risk: Investing in commercial real estate 

is usually regarded as “higher-risk”, and there can 

be a long wait for full occupancy, especially if the 

property is newly built. 

So now you have a better understanding of 

the key differences between commercial and 

residential real estate. 

CommercialAsia.com 

sE p | Oc t 2012 


37

©2012 SAP AG. SAP and the SAP logo are trademarks and registered 

trademarks of SAP AG in Germany and several other countries. 

RUN 

NIMBLER 

SMARTER 

FASTER 

BOLDER 

QUICKER 

BRAVER 

LEANER 

BETTER 

WITH 

SAP 

SAP HELPS SMALL AND MIDSIZE COMPANIES 

DO WHAT THEY DO BEST, EVEN BETTER 

No one does business like you. From making 

innovative products to delivering stellar 

service, your company is growing and you 

need software that will help you grow. 

SAP has solutions to help small businesses 

and midsize companies streamline 

operations, improve efficiency, and provide 

the information needed to make better 

decisions. So you can focus on your 

business, rather than your IT challenges. 

Learn how SAP and our experienced 

partners can help your business run better 

at www.sap.com.sg/sme or contact us 

at 6664 6727. 

The spacious expanse of the Padang 

was converted into a field of small 

standard futsal pitches on 25 August 

2012 as the Football With A Heart (FWAH) 

charity fundraiser kicked off activities. A 

sporting cum charity fundraising event, the 

one-day carnival and soccer tournament 

was co-organised by the Football 

Association of Singapore (FAS), Singapore 

Pools i-SHINE volunteers, the Singapore 

Recreation Club (SRC) and the Singapore 

Sports Council (SSC). 

The flagship event that lasted throughout the 

day was the 5-a-Side Soccer Tournament, 

where companies like OCBC Bank, Park 

Hotel Group and Starhub fielded teams 

comprised of their own staff to compete 

for a grand prize. Featuring group stages 

followed by the finals, the entire tournament 

stretched from 8.30AM in the morning all 

the way to 4.30PM in the afternoon. 

However, the main highlight for the day had 

to be the exhibition match between the 

Parliament Team (comprised of Members 

of Parliament) and CEOs United, a joint 

assembly of business owners and key 

decision makers from the Association of 

Small and Medium Enterprises (ASME), 

the Singapore Business Federation (SBF) 

and the Singapore International Chamber 

of Commerce (SICC). Maintaining an air of 

sportsmanship and spirit, the two teams 

went all out on the scaled-down soccer 

pitch, trading spectacular passes and 

complex dribbles to outscore the other. 

The parliamentarians showed amazing 

teamwork, deftly maneuvering the ball 

from player to player, while the CEO team 

responded in kind with tireless efficiency 

and almost boundless energy. At the end 

of the action-packed 10-minute match, 

both teams were evenly matched, finishing 

the exhibition with a tie and handshakes all 

around. 

“The Football With A Heart project is a 

very meaningful and purposeful one. It 

not only allows corporations to fulfill their 

CSR commitments but also encourages 

healthy living within their organisations, and 

individuals from the various organisations 

are given space for interaction and 

networking through football,” said Mr Eric 

Tan, one of the players on the CEO United 

team and also the CEO of GSK Global Pte 

Ltd. “In the process, it encourages better 

understanding and relationship building.” 

Alongside the tournament, fringe activities 

were also in full force to cater to the 

families of the soccer players who turned 

up to support. Shooting galleries with Nerf 

blasters appealed to the children while the 

adults engaged in conversation as they 

lounged in the shaded pavilions ringing the 

pitches. The weather held until the finals, 

where SembCorp emerged as the ultimate 

victor for the FWAH 5-a-Side tournament. 

ma r k E t in t E l l i gE n c E 

In the evening, a networking dinner was 

held in appreciation of the efforts of the 

sponsors, the players and all involved in 

the event. Graced by His Excellency Dr 

Tony Tan Keng Yam, the President of the 

Republic of Singapore, the dinner was held 

in a cosy setting in the marquee area of the 

Singapore Recreation Club, and cheques 

representing the dollars raised through the 

event were presented to the beneficiaries. 

The evening ended with the presenting 

of tokens of appreciation to the donors, 

bringing to a close an event that truly 

stemmed from the heart. 

The executive charity football fundraiser has scored a meaningful goal 

With A H art 

sE p | Oc t 2012 


39


MAKING thE Most out 

oF tEChNoloGy wIth 

loGIstICs INtEGRAtoRs 

USING TECHNOLOGy TO IMPROvE 

SUPPLy CHAIN MANAGEMENT 

The use of information technology 

(IT) has transformed the global 

business environment and 

e-commerce is one of the 

catalysts for change. While the smallmedium 

enterprise (SME) landscape 

in Singapore has evolved, SMEs are 

essentially concerned with the same 

challenges that are faced by multinational 

companies (MNCs); what keeps them 

up at night is growing competition, rising 

costs and business continuity. 

Faced with stiff competition both locally 

and overseas, companies - especially 

SMEs - need to innovate and adapt to 

the changing business environment to 

ensure long term sustainability. The latest 

survey results by local credit bureau DP 

Information Group showed that 56 per 

cent of local SMEs with overseas revenue 

achieved a turnover of over S$5 million, 

as compared to 36 per cent of SMEs in 

Singapore with no international revenue 

in 2011. 

Technology is an integral part to this 

equation, with e-commerce providing 

SMEs with an additional revenue channel 

by lowering barriers to entry into the 

marketplace while promoting business 

efficiencies and managing cost. Close 

to 80 per cent of Singaporean SME 

respondents in DP Information Group’s 

SME Development Survey 2011 enjoyed 

a positive material impact to their 

business when they adopted technology. 

Recognizing the significance of IT in 

business, SPRING Singapore recently 

announced that they are putting in an 

additional S$200 million for capability 

development programs targeted at 

helping the SMEs. The programs cover 

areas such as technology adoption, 

branding and productivity. 

Despite the business benefits 

brought about by technology, crossborder 

trade cannot happen without 

sound supply chain management. 

Logistics integrators in particular, 

need to provide these SMEs with 

one-stop solutions - to be the link to 

the end consumers, the channels of 

distribution, the production processes 

and procurement activity - through 

the effective use of technology. This 

not only gives SMEs the competitive 

advantage but also helps these 

companies drive operational efficiency 

while being cost effective. 

Merging innovative IT procedures in the 

logistics industry is a crucial medium 

which can string together the various 

processes by optimizing the value of 

each resource, thus improving overall 

efficiency. 

What lies Ahead? 

Effective use of technology in the 

company’s supply chain provides 

them with related information on the 

flow of goods and the status of orders 

which help the companies to conduct 

prompt delivery using the most reliable 

mode of distribution across varied 

distribution channels. 

Through leveraging on technology, 

logistics integrators can help SMEs 

meet their delivery commitments 

quickly and easily, thereby increasing 

efficiency, be more competitive and 

also drive customer demands in the 

long run. 

herbert vongpusanachai 

Managing Director 

Dhl Express (Singapore) 

sE p | Oc t 2012 


41

42 


The SenTimenTS from 

The Ground 

A snapshot of some of the business issues faced by local enterprises in 

these trying times. 

Rising costs, shortage of labour, 

insufficient cashflow are some of 

the recurrent and typical challenges 

that small and medium enterprises (SMEs) 

face in today’s capricious business 

environment. Faced with a shrinking 

and ageing population, the government 

has been advocating businesses to 

improve productivity. However, SMEs 

are finding it increasingly challenging and 

difficult to maintain the competitiveness 

and productivity of their businesses. 

The Association of Small and Medium 

Enterprises (ASME) recently commissioned 

a survey to establish the challenges faced 

by local SMEs in Singapore amidst the 

current business climate and prevailing 

government policies, as well as gather their 

feedback and business sentiments. 

Costs and Turnover 

Many SMEs have been facing and raising 

concerns as they see steady increases in 

labour, rental and operational costs. 79.6 

per cent of the SME respondents surveyed 

demonstrated that their current cost of 

operations have increased, with a majority 

of 40.1 per cent revealing that their current 

cost of operations have increased by over 

10 per cent, followed by the second highest 

poll of 28.2 per cent of them revealing 

that their current cost of operations have 

increased by over 20 per cent. 

has your current cost of operations: 

Decreased 6% 

Remained the same 14% 

Increased 80% 

sE p | Oc t 2012 


80% 

70% 

60% 

50% 

40% 

30% 

20% 

10% 

0% 

28.20% 

40.10% 

By less than 10% 

By more than 10% 

By over 20% 

11.30% 14.10% 3.50% 

2.80% 

Increase Remain the same Decrease 

75.6 per cent of the respondents are of 

the view that in the next three months 

ahead, they are estimating that their cost 

of operations will increase, and 76 per cent 

of SMEs whose current cost of operations 

have increased are still expecting their cost 

of operations to increase within the next 

three months. Only a mere 6.6 per cent 

of the respondents indicated that they 

are expecting their cost of operations to 

decrease. 

In the 3 months ahead do you see your cost of 

operations: 

80% 

70% 

60% 

50% 

40% 

30% 

20% 

10% 

0% 

20.70% 

31.90% 

23.00% 

17.80% 

Decreasing 7% 

Remained the 

same 18% 

Increasing 75% 



By over 20% 

0.70% 

Increase Remain the same 

4.40% 

Decrease 

1.50% 

39.3 per cent of the SMEs’ current turnover 

had increased whilst an almost equivalent 

35.3 per cent of them revealed that their 

current turnover had decreased. 

has your current turnover: 

Increased 80% 

40% 

35% 

30% 

25% 

20% 

15% 

10% 

5% 

0% 

11.30% 

14.00% 



By over 20% 

16.20% 

9.90% 

14.00% 25.40% 9.20% 

Increase Remain the same Decrease 

Decreased 6% 

Remained the same 14% 

Amongst all the respondents, the most 

number of SMEs indicated that their 

turnover remained the same, while 16.2 per 

cent of them, and also the second highest 

registered a decrease by over 20 per cent 

of its current turnover. 

When asked about SMEs’ short term view 

on their turnover, the majority of SMEs 

indicated that they are expecting to see an 

increase in their turnover in the three months 

ahead. However, a higher percentage of 

them expect turnover to remain the same 

as their current figures. 

Employment Plans 

Despite the uncertain economic outlook 

amidst the Eurozone Crisis, US’ and 

China’s economic slowdown, as well as 

a weakening job market, SMEs are still 

looking into hiring and increasing their staff 

strength. Interestingly, 48.1 per cent have 

revealed that they will be increasing their 

staff strength for the next six months, while 

40.7 per cent of them demonstrated no 

change to their staff strength within the next 

six months. 

SMEs' employment plans for the next 6 months: 

However, this trend also highlights the 

manpower shortage issues that SMEs 

are facing, which explains the reason 

why SMEs are looking into hiring. Given 

the fact that most SMEs are looking at 

increasing staff strength, and only 11.1 

per cent of them indicated that they have 

intentions to decrease staff strength, the 

paradox of having difficulty hiring locals 

becomes a pertinent issue. 

overseas Expansion and Relocation 

Plans 

62 per cent of the SME respondents 

indicated their intention to expand/relocate 

overseas. Of the SMEs intending to expand 

their businesses overseas, a majority of 

them are looking to expand to neighbouring 

countries in the Southeast Asian region. 

The top three countries within the region 

are Indonesia, Malaysia and Vietnam. This 

is perhaps due to the proximity and good 

network and connections in relation to 

these selected southeast Asian countries. 

Within Asia, China remains the popular 

choice for expansion, followed by India. 

Rising costs has inevitably drove SMEs 

to relocate to other regions where 

labour, land and raw materials are 

cheaper. Considering how Singapore’s 

neighbouring countries are actively 

opening up and developing, it is no 

surprise that SMEs will search for other 

cheaper alternatives to re-shift their 

business operations. 

It is also worthy to note that with the slew 

of new policies imposed, many SMEs 

are concerned how these regulations will 

negatively affect their industries. There 

Decrease staff strength 11% 

Increase staff strength 48% 

No change to staff strength 41% 

are still many jobs available out there for 

locals but many SMEs still have difficulty 

recruiting local manpower in the market 

and hence find it difficult to meet the 

foreign labour quota. With whatever little 

manpower that is left and are available 

to SMEs, many locals are not committed 

and are unwilling to work especially in 

the lower tiered jobs, such as drivers, 

waitresses, etc. 

Despite Singapore’s push to improve 

productivity, SMEs face the challenge of 

locals reluctant to increase productivity 

or are unwilling to work overtime even 

though their salary has been increased. 

Key Strategies 

Going forward, SMEs are looking towards 

expanding their existing range of products 

and services, and enhancing their branding 

and marketing presences. This includes 

offering new products and services or 

extending their existing products and 

service lines. 

Other than the aforementioned plans to 

expand/relocate to the overseas market, a 

majority of them are also looking to increase 

productivity through training as well as 

enhancing their existing capabilities in terms 

of innovation, R&D, technology, etc., which 


are in line with Singapore’s recent policies 

to improve productivity. 

Taking a closer examination on SMEs 

whose cost has increased and what their 

key strategies are for the next six months, 

the survey results found that out of the 79.6 

per cent whose current cost of operations 

had increased, more than half of them 

indicated that one of their key strategies is 

to expand their existing range of products 

and services, while 48 per cent indicated 

that they will enhance their branding and 

market presences. 

It is also noteworthy that many whose cost 

operations has increased are looking into 

taking steps to contain their costs such as 

relocating, expanding overseas as well as 

streamlining their operations. 

In Conclusion 

Looking ahead, SMEs are generally 

optimistic in terms of their turnover, with 

a slightly higher percentage of them 

expecting their turnover to increase in the 

short term. However, there are still SMEs 

who are tightening their business outlook 

with a higher percentage of them revealing 

that they expect their turnover for the next 

three months ahead to remain the same. 

The two most pertinent issues are rising 

costs and manpower shortages. Amidst 

these challenges faced, SMEs are taking 

strategic steps to differentiate themselves 

from their industry peers, as well as taking 

steps which will improve their productivity. 

SMEs are also looking at other alternatives 

to ensure the competitiveness, sustainability 

and profitability of their business, for e.g. 

relocating and expanding overseas. 

Many SME owners have raised their 

concerns over the recent policies 

aforementioned. With the government 

taking more initiative to gather feedback 

and ground sentiments to better implement 

multi-pronged policies, this survey will also 

serve as a platform to consolidate and 

highlight the challenges, feedback and 

solutions that SMEs have raised, to higher 

authority. 

sE p | Oc t 2012 


43

Organisers Principal Partners 

Supporting Partners 

PEOPLE STRATEGIES 

Harnessing Change, 

FOR ASIA - Managing Complexity 

Insights for tomorrow’s business challenges 

Corporate Partners 

Strategic Partners 

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The need for organisations to focus on leadership and human capital strategies is more vital than ever in these 

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Prof Dave Ulrich 

Ross School of 

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Ho Kwon Ping 

Banyan Tree Holdings, 

Executive Chairman 

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MORE THAN 40 SPEAKERS OVER 2 DAYS 

Harish Manwani 

Unilever, Chief 

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Mark Tucker 

AIA, Group Chief 

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Lieutenant General 

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United States 

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Mastercard, 

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Microsoft, President 

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Juliet Jiang 

Broad Group, 

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YCH Group . Laurence Lien, Lien Foundation . Aliza Knox, Google.Conrad Schmidt, CEB. Jonathan 

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Tenicela, IBM Global Business Services 

SUMMIT PROGRAMME 

DAY 1 — 19 SEPTEMBER 2012 

Session 1: From Asia to the World - Keynote Session 

Session 2: The Brave New World & Implications for Asia 

Session 3: Transforming Organisations for Growth 

Session 4: Creating a Culture of Innovation in Asia 

Session 5: Next-Generation Leadership 

Session 6: Leading in Uncertain Times 

DAY 2 — 20 SEPTEMBER 2012 

Session 1: Asian Human Capital Award 2012 Winners 

Session 2: Beyond CSR: Purpose-driven Organisations 

Session 3: Leading Across Borders & Global Mindset 

Session 4: Diversity in Asia • Accelerating Leadership Development 

• Managing Talent in SMEs & Family-Owned Corporations 

Session 5: Lessons from Chinese & Indian Corporations • Leadership 

in the Middle East • Developing Talent in South-East Asia 

Session 6: Leadership for the Future - Keynote Session 

WHO SHOULD ATTEND 

C-Level Executives and Senior Leaders responsible for business or 

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PRICES 

2-Day Summit Pass: S$2500. 

For attractive group discounts, email secretariat@singaporehcsummit.com. 

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Media Partner 

A new initiative to help Singaporean PMEs secure 

employment in SMEs 

The year started out with an air of uncertainty, with an 

unstable Euro Zone situation coupled with a general 

global recession that furrowed the brows of many 

employers and employees alike. If the big players and multinational 

corporations (MNCs) are reeling from the impacts, 

small and medium enterprises (SMEs) will no doubt feel the full 

force of a capricious market. 

In terms of resources 

and capability, SMEs will 

be hard-pressed when 

competing with MNCs 

for talent: for example, 

an IT professional would 

generally choose to work 

for an MNC with a more 

attractive pay package 

and a clearer career 

progression pathway. 

SMEs, being smaller 

outfits, may be unable to 

offer potential employees 

robust pay packages, 

at least not on the same 

level as their larger 

counterparts. 

However, like MNCs, SMEs can also offer professionals, 

managers and executives (PMEs) a lot in terms of job fulfillment 

and satisfaction. Due to their smaller and lesser-tiered corporate 

hierarchy, working in an SME usually means that decisions can 

be made at lower levels as compared to the MNC practice of 

going all the way up for approval and then coming back down. 

Things tend to be done faster, and ideas are usually translated 

into practice without heavy amendment. 

Many PMEs however, do not relish 

such an opportunity. Pay is ostensibly 

an issue, but many of them are also 

uncertain of the culture that permeates 

an SME working environment. SMEs in 

return are also hesitant of PMEs who 

used to work for the bigger companies, 

worried that they may completely alter 

the dynamics of the small enterprise 

with their brush strokes designed for 

major corporations, or that the PMEs 

may not stay on in the organisation for 

long. 

Enter: Max Talent. An initiative 

administered by the Association of Small 

and Medium Enterprises (ASME) and 

supported by the Singapore Workforce 

Development Agency (WDA), Max 

Talent is a place-and-train programme 

to help SMEs hire good PME talents 

and prepare them for careers in SMEs. 

A two-pronged approach, the Max Talent programme is geared 

towards placing PMEs with the relevant skillsets into SMEs in 

need of such skills. To this end, the placed PME will undergo 

a three-day Talent Workshop which will help them acquire six 

key management skills that will enable them to perform better 

at work. During the workshop, each PME will also complete a 

Talent Resource Kit with his SME employer, which will lay out 

the framework for the PME’s stint within the company, setting 

realistic goals and deliverables. 

Approach 

At the end of a six-month period, the PME will have completed 

the Talent Resource Kit while the SME will have submitted the 

Talent Resource Report. If the Report indicates that the PME 

has had at least a satisfactory level of performance within the 

SME, the company will receive a one-off $5,000* assistance 

grant to defray costs involved in adopting the Talent Resource 

Kit under Max Talent programme. 

* Terms and conditions apply. 

sE p | Oc t 2012 


45

46 


Throughout the programme, the only 

fees payable will be the course fees for 

the Talent Workshop, which will be borne 

by the SME hiring that particular PME. 

As part of the expanded assistance to 

SMEs, 90% of the course fees will be 

subsidised by the Singapore Workforce 

Development Agency (WDA), and the 

remaining sum is also eligible for tax 

or cash payout benefits under the 

Productivity and Innovation Credit (PIC) 

Scheme administered by the Inland 

Revenue Authority of Singapore (IRAS). 

Applications from both PMEs and SMEs 

have been received since the launch of 

the programme, and ASME has actively 

engaged in outreach efforts to spread the 

word about this place-and-train initiative. 

During the Inter-Association Networking 

Night organised by ASME on 25 July 

2012, information on the Max Talent 

programme was shared with the evening’s 

participants in an informal setting. To date, 

sE p | Oc t 2012 


a sizable number of SMEs have indicated 

interest to participate in Max Talent as 

they saw how the programme can help 

them in meeting their manpower needs, 

while enhancing their HR capabilities 

through the Talent Resource Kit. 

In addition, sharing sessions at WDA and 

other external venues were held, with 

the most recent one held at CaliberLink, 

a new one-stop service point for PMEs 

set up by the WDA. Playing host to more 

than 80 participants, the Max Talent 

Secretariat shared with the PMEs on 

the programme, the benefits and what it 

entails. They also took questions from the 

floor, setting ease to many of the PMEs’ 

concerns and issues. At the end of the 

session, many PMEs indicated their 

interest in the programme, and readily 

submitted their enrolment forms. 

Finally, during the recently-concluded 

STJobs Fair 2012, word of the Max Talent 

Flowchart of Activities 

programme was actively spread through 

an exclusive booth space occupied by 

ASME. Besides learning more about Max 

Talent from staff present, eligible PMEs 

also applied for the programme on-site. 

Mr Wong Hong Kuan, Chief Executive of 

WDA said, “The Max Talent programme 

by the Singapore Workforce Development 

Agency (WDA) and the Association of 

Small and Medium Enterprises (ASME) 

is an extension of efforts to help PMEs 

attain their career aspirations and be 

gainfully employed while meeting the 

manpower needs of the SMEs.” 

“The Place and Train element in the 

programme allows both groups to 

reap optimal benefits as it provides an 

opportunity for them to better understand 

and match their expectations and needs,” 

he added. “Through Max Talent, we 

look forward to more PMEs embracing 

employment opportunities in the SMEs.” 

For more information and application details, please contact the Max Talent Secretariat at 6513 0349/6513 0350 or 

email sme.maxtalent@asme.org.sg/pme.maxtalent@asme.org.sg.

48 


WHY SINGAPORE 

COMPANIES MUST 

MANAGE THEIR IP 

The importance of this intangible business asset. 

"Innovation is the specific tool of entrepreneurs, the means by which they exploit change as 

an opportunity for a different business or a different service. It is capable of being presented 

as a discipline, capable of being learned, capable of being practiced. Entrepreneurs need 

to search purposefully for the sources of innovation, the changes and their symptoms that 

indicate opportunities for successful innovation. And they need to know and to apply the 

principles of successful innovation." 

- Peter F. Drucker, "The Father of Modern Management" 

There are many reasons why 

intellectual property (IP) is important 

to Singapore, and why Singapore 

(and Singapore companies) needs to 

manage its IP. 

Firstly, our homegrown companies need 

to manage IP in order to survive and 

grow. Singapore, though boasting one 

of the highest per capita GDP in the 

world, has a small domestic market. 

Unlike companies in big economies, 

our Singapore companies do not have 

the luxury of growing their businesses 

to a substantial size just depending on 

the home market. At the same time, as 

Singapore is a developed economy with 

a high standard of living, our companies 

operate in a high-cost environment. 

Singapore enterprises that want to 

grow and succeed thus have two 

disadvantages – compared to our 

competitors, we have a smaller home 

market and face higher costs. In order to 

survive and grow, Singapore companies 

have to find ways to compete that 

negates reliance on low costs or scale. In 

order to compete, our companies must 

sE p | Oc t 2012 


offer something unique which cannot be 

easily replicated elsewhere in a low-cost 

country. 

Therefore, the only long-term competitive 

advantage that Singapore companies can 

count on is innovation. Only innovative 

companies can continue to come up with 

new products, value-added services, or 

even reinvent their business models to 

provide unique value to their customers. 

However, innovation can only provide a 

sustainable competitive advantage if we 

can stop our competitors from copying our 

successful ideas. Otherwise, our efforts 

to innovate only amounts to free market 

research for competitors. Therefore, to 

fully capitalise on innovation, we must be 

able to own our best ideas, and maximise 

our profit from them. Without ownership, 

innovators cannot survive. 

There is another reason why Singapore 

needs to manage its IP. There is a lot of 

talk about productivity growth and why it 

is important for Singapore to maintain its 

competitiveness, and to support higher 

wages for Singaporeans. Simply put, 

productivity is the ratio of production 

output to what it takes to produce it 

(input), therefore productivity growth 

simply means doing more (output) with 

less (input). 

In business terms, companies take various 

resources (input) such as labour, capital 

and raw materials and organise and use 

them to produce goods and services 

(output). More productive companies 

can produce more and more valuable 

goods and services with the same or 

less resources. From this formula, it can 

be seen that more productive companies 

are also likely to be more profitable. 

How then can Singapore companies 

sustain productivity growth over time? 

The only way is through innovation. If 

productivity growth is doing more with 

less, then innovation is simply finding 

new ways to do more with less. Unless 

we continuously innovate, and come up 

with better ways of creating more value 

from our resources, we will stagnate, 

our competitors will catch up, and our 

companies will see profitability go down, 

and eventually go out of business. 

Here, again, the issue of ownership of 

innovation arises. Unless we can own 

the innovations that allow us to leap 

forward in productivity, any productivity 

gain will not benefit us for long. Without 

ownership, competitors can take our 

best ideas and do it cheaper, better and 

faster elsewhere. 

The big question is therefore: how can we 

own innovation? There is only one way 

to do this, and that is with IP. Intellectual 

property protects our novel inventions, 

new designs, brands, original creative 

works and trade secrets – the intangible 

things that give us a competitive edge 

over our rivals. It gives us ownership 

rights, which enable us to stop others 

from stealing our IP. 

With ownership rights, we can also trade 

with our IP – e.g. licensing it to others in 

exchange for payment, especially in large 

overseas markets which can be daunting 

for a SME to venture into by itself. A good 

example of this is expanding into foreign 

markets through franchising. Innovative 

Singapore companies are also attracting 

global partners on the strength of their 

IP portfolio. With recognised ownership 

rights, companies can even raise money 

with IP, as more sophisticated investors 

and even banks are beginning to 

recognise the value of IP when financing 

the most innovative (and productive) 

companies. 

In other words, IP allows smaller, 

innovative companies to survive and 

thrive in the global marketplace, because 

IP provides the ability to take advantage 

of successful new ideas (which small 

innovative companies are traditionally 

good at creating) and to turn them into 

revenue and business opportunities. IP 

levels the playing field with bigger and 

cheaper competitors, by preserving the 

competitive advantage of innovators 

through the exclusive rights created by IP 

laws. Used and managed in this way, IP 

becomes a business asset that protects 

a company’s ability to compete in the 

marketplace. 

For companies to truly have IP as a 

business asset, IP needs to be put to 

work. It needs to add value to your 

business, earn more revenue, create 

more products, services and even entire 

new businesses, and be a magnet for 

partners and opportunities. In order to 

achieve these objectives, IP has to be 

managed strategically. 

Unfortunately, not many companies in 

Singapore, especially SMEs, are actively 

managing their intellectual property. 

Companies face many obstacles to 

realising the value of their innovations and 

IP. Many do not know what intellectual 

property they have. Companies may not 

know what IP they need. It is not always 

clear to businesses what IP can do for 

them. Most worryingly, many companies 

in Singapore, even listed companies, 


have no idea what IP risks they face. Very 

few companies know what to do with IP 

to create value for their business. 

So what do companies need to do in 

order to manage their IP as a business 

asset? The following points can serve as 

a checklist: 

• Know what IP you have that is used 

in your business 

• Know the gaps 

• Ensure ownership of strategically 

important IP 

• Understand and assess IP risks 

• Support innovation by identifying, 

evaluating, protecting, managing and 

commercialising IP 

• Use IP to generate additional revenue 

& strategic advantage 

The future of Singapore’s companies and 

Singapore’s continued prosperity lies in 

how well we harness IP as a business 

asset. That is why we need to manage 

IP strategically. 

What is your company doing to manage 

its IP? 

Chiew Yu Sarn 

Partner 

Yusarn Audrey 

Igniting Possibilities 

Lawyers • Patent Agents • IP Strategists 

Yusarn Audrey is a law firm specialising in 

the strategic management of IP. We help our 

clients take control of their IP assets and risks, 

and use IP to create opportunities and grow. 

sE p | Oc t 2012 


49

50 


Succeed in e-commerce wiTh 

a winninG ePaymenT STraTeGy 

and an exPerienced ParTner 

To wiN iN The e-CoMMerCe BaTTlefield, MerChaNTs 

should exploiT aN effeCTive Mix of sales, MarkeTiNg 

aNd epayMeNT sTraTegies 

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marketing, localised payment options, 

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succeed in attracting and retaining 

online customers. 

Latest market forecasts state that 

Singapore’s e-commerce market value 

will reach S$1.6 billion this year. From 

traditional brands to start-ups, merchants 

are running to expand into online sales. 

Despite the seemingly guaranteed profits 

that e-commerce offers, competition 

is incredibly fierce. With thousands of 

e-shops opening every month, how 

can an e-shop really stand out from the 

crowd? 

Attract shoppers with card discounts 

One of the most common strategies 

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discounts have been proven to be an 

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prepared campaign reports. PayDollar 

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rollout multiple and customisable card 

sE p | Oc t 2012 


promotion campaigns with multiple 

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Shopping with peace of mind and 

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A membership scheme is another 

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their online shopping and payment 

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data including delivery address and 

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Security remains the biggest challenge 

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their willingness to spend more online 

provided that better security measures are 

implemented on shopping websites. To 

earn buyers’ trust, online merchants must 

maintain professionalism with secure 

websites and sustain good reputation, 

especially within the realm of social 

media. Singaporean shoppers heavily 

rely on company and product reviews 

for making their purchase decisions, 

both online and offline. Merchants are 

recommended to provide information on 

buyer protection and security measures 

on their websites along with refund 

policy and customer service contacts 

to encourage hesitant buyers to make 

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Expand sales frontier with SoloMo 

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IT and ePayment tools. Recently, a local coffee shop in Asia 

succeeded in expanding its brand presence and customer 

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customers to pre-order coffee, locate the nearest shops, buy 

gift coupons and send the QR redemption code to their friends 

through Facebook. Small and medium enterprises (SMEs) 

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Reap immense profit potential from overseas markets 

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Singaporean online merchants are aiming for greater sales 

from lucrative foreign territories. Before stepping into a foreign 

market, merchants must consider how they should adjust 

their products and payment options to address and meet the 

shopping habits of local shoppers. 


While credit card is the dominant payment method in Singapore, 

debit payments and e-wallets are more commonly used by online 

shoppers in other major Asia markets such as China, India, 

Indonesia, etc. To avoid sales loss due to frustration during the 

check-out process, merchants should offer expanded payment 

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sE p | Oc t 2012 


51

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Singapore l China l Hong Kong l India l Indonesia l Macau l Malaysia l Philippines l Taiwan l Thailand l United Kingdom l Vietnam 

In the hustle and bustle of modern 

society, mental health is often 

overlooked and sometimes ignored, 

especially in the workplaces where 

speed and efficiency reign supreme. 

Yet, good mental health corresponds 

to increased productivity and efficiency, 

leading to more fulfilling workdays and 

lesser employee downtime. 

An online survey conducted by the Health 

Promotion Board (HPB) scored the mental 

well-being of working Singaporeans 

at 13 per cent lower than the general 

population, ratified by data from another 

HPB survey which found out that one in 

six working adults experiences a relatively 

high level of stress as compared to one 

in 10 non-working adults. Clearly, our 

workforce is under substantial amounts 

of mental pressure from the rigours of the 

working world. 

However, of the 1200 small and medium 

enterprises (SMEs) surveyed by the HPB, 

only 40 per cent indicated that they 

are willing to invest in their employees’ 

mental well-being but an encouraging 

75 per cent of all surveyed recognised 

AN INTEgRATED 

SoluTIoN To 

WoRKPlACE 

MENTAl hEAlTh 

A new initiative by the Health 

Promotion Board aims to 

improve the mental well-being 

of working Singaporeans 

the potential benefits of supporting and 

improving staff’s mental health. This 

divide could be due to a lack of resources 

or knowledge, or insufficient employee 

numbers to warrant conducting full-scale 

workshops or talks. 

To address this and to improve the 

mental well-being of employees, HPB has 

launched the Workplace Mental Health 

Solution, created as a one-stop centre 

that provides accessible and affordable 

tools, resources and guidance to both 

employers and employees to bolster 

mental health at the workplace. 

The new initiative provides solutions at 

three levels: 

• Employee: Healthy Mind Hub 

An online self-assessment tool 

measuring levels of mental wellbeing, 

resilience, stress, depression 

and anxiety while also offering postassessment 

self-help resources. All 

information collected here will remain 

confidential, and the aggregated 

data can help focus a company’s 

workplace health programmes. 

For more information, please visit www.hpb.gov.sg/healthymindhub 


• Management: Workplace Mental 

health Investment guide & 

Working Minds health Curriculum 

Resources to guide managers as well 

as industrial vendors on how to create 

effective, affordable and accessible 

mental health programmes. 

• Organisational: Workplace Health 

grant 

As part of the $15,000 Workplace 

Health Grant, $5000 is used 

exclusively for the promotion of 

mental health, allowing employers to 

plan and expand mental well-being 

programmes. 

“Nearly 70 per cent of our population 

are in the workforce, many of whom 

deal with stress every day as part of 

a typical fast-paced urban lifestyle,” 

said Dr Amy Khor, Minister of State for 

Health and Manpower, “ HPB’s Workplace 

Mental Health Solution offers a three-inone 

solution to help employees and 

employers boost mental health at the 

workplace through accessible and 

affordable tools and resources tailored 

separately for employees, managers and 

the organisation as a whole.” 

sE p | Oc t 2012 


53

54 


MORE TIMELY 

REIMBURSEMENT CLAIMS 

FOR GOVERNMENT 

PAID MATERNITY 

LEAVE 

From 2 August 2012, employers and self-employed 

women will be able to make monthly reimbursement 

claims for Government Paid Maternity Leave (GPML) 

sE p | Oc t 2012 


Under the GPML scheme, eligible 

employees are granted 16 weeks 

of maternity leave. Employers 

pay these employees the maternity 

leave benefits and subsequently 

seek reimbursement from Ministry of 

Community Development, Youth and 

Sports (MCYS) /Central Provident 

Fund Board for the Governmentpaid 

portion, which can range from 

8 to16 weeks, depending on the birth 

order of the child. 

Currently, employers can only make 

two GPML claims per employee within 

the first year from the child’s birth. The 

first claim can be made any time after 

the first eight weeks of maternity leave. 

The second claim can only be made 

after the mother has consumed her full 

entitlement. For mothers who choose to 

take the maternity leave flexibly, employers 

may have to wait up to the end of the 

12-month period to make the second 

claim for the remaining GPML portion. 

In November 2011, the Pro-Enterprise 

Panel (PEP) received a suggestion to allow 

employers to claim reimbursement for their 

employees’ maternity leave on a monthly 

basis. Having considered the suggestion, 

the PEP agreed that the reimbursement 

process for GPML could be more probusiness 

and pro-family at the same 

time. Also, in the current economic 

climate, with the increases in levies and 

other measures such as the phased 

tightening of levy tiers affecting many 

companies financially, especially SMEs, the 

PEP felt that it could be timely for MCYS to 

review the reimbursement process just as it 

did in 2009. 

In response to this suggestion submitted 

via the PEP, MCYS has revised the 

payment guidelines to allow monthly 

claims for GPML. For 1st and 2nd 

order births, employers can make 

monthly reimbursement claims from 

the Government after they have fulfilled 

their obligations for the first eight weeks 

of maternity leave. For the 3rd and 

subsequent child, where Government pays 

for the full 16 weeks leave, employers can 

submit monthly reimbursement claims for 

leave taken by the employee from the first 

month onwards. 

“We are aware that the government has 

established a channel, the PEP to deal 

with red tapes for business and that is 

the reason why we decided to write in 

our suggestion to the PEP. True enough, 

we received a prompt response and we 

really appreciate that the PEP took our 

suggestion seriously”, said Ms Lestari who 

had submitted the suggestion with her 

colleague Mr. Elango Subramanian, from 

Raffles Corporate Consultants Pte Ltd. 

We hope this success story will inspire you 

to send in your suggestions to the PEP! 

Have a good suggestion to cut business red 

tape? Write in to the PEP at mti_pepsec@ 

mti.gov.sg. The top 3 suggestions of the 

year will win a PEP Award and a cash prize 

of $1,000. 

Corporate social responsibility 

comes in many forms: from 

simple door-to-door donation 

drives to meticulously planned carnivals 

with glamorous performances. Beyond 

the multiple forms of execution lies the 

crux of the matter: giving back to the 

society in which the company operates 

in. Like part of a complex biological 

ecosystem, the community plays a major 

role in the company’s day-to-day running; 

therefore it is only logical and wise to 

implement a programme that best shows 

the company’s appreciation to society. 

Go M.A.D is Home-Fix DIY’s version 

of social responsibility. Contrary to the 

meanings associated with the word 

M.A.D, it is actually an acronym for 

Make A Difference, very apt for what the 

programme sets out to do. Each year, 10 

Go 

H me-Fix’s corporate social 

responsibility programme has made a difference 

needy Malay families will receive a minimakeover 

for their homes at absolutely 

no charge: these homes will receive 

a fresh new coat of paint, have their 

incandescent bulbs changed to energy 

saving bulbs, have water saving shower 

heads installed so that their utilities are 

cut down. Volunteers also give a thorough 

spring cleaning as well as any other tasks 

that are required to improve the overall 

condition of the selected flats. 

In partnership with the Tabung Amal 

Aidilfitiri (TAA), a non-profit organisation 

which takes care of needy Muslim 

families, 10 Malay homes are shortlisted 

for the noble project. Before the actual 

painting and cleaning, volunteers and 

Home-Fix staff alike are put through a 

briefing cum workshop, to learn more 

about the procedure and finer points 

of painting. Even if the programme is a 

mere act of charity, Home-Fix believes in 

getting the act right, to effect the change 

of paint in those homes as professionally 

as possible. During the workshop, 


volunteers and staff members receive 

training on the workings of painting, and 

get some hands-on practice before the 

actual day. 

Spread across three Saturdays, the 

volunteers and Home-Fix staff members 

proceed to make a difference in the lives 

of these 10 needy families. Taking into 

consideration their preferences for their 

wall colours, the Home-Fix staff make use 

of their retail skills to carefully manage the 

families’ expectations and fulfill them to 

the best of their abilities. They clean, they 

wash, they paint, giving these families a 

better living condition before they usher 

in their new year. 

First started in 2009, Go M.A.D initially 

only involved internal staff and volunteers 

M.A.D! 

from the Institute of Technical Education 

(ITE). While doing their part for society, the 

ITE students also received Community 

Involvement Points (CIP) for their efforts. 

As the project gained momentum, Home- 

Fix DIY roped in its customers in 2011, 

increasing the number of stakeholders in 

the project. Now in 2012, the programme 

has gone yet another step further to now 

involving its many business partners. 

It does not take much to make a difference, 

all it takes is a fresh coat of paint. 

sE p | Oc t 2012 


55

Kensington Ballroom 

Seating Capacity: 400 – 500 pax 

Beer Garden 


KTV Rooms 


Casuarina Room 

Seating Capacity: 50 pax 

Whether for 

Business or Pleasure, 

we have the 

Perfect Venues 

for you 

Serangoon Gardens Country Club offers clients a quiet refuge complete with 

a variety of function rooms that are perfectly suited for any corporate or 

private event. 

Conduct a workshop in our Casuarina Room, have a few drinks with your 

clients or colleagues in our Beer Garden or KTV Rooms or opt to have your 

company’s next dinner and dance in our Kensington Ballroom. From team 

building workshops to power lunches, whether for business or pleasure, we 

have the perfect venues for you. 

To book your next event, call or email us today! 

Tel: 6286 8888, 6398 5381, 6398 5365 

Email: banquetsales@sgcc.com.sg 

22 Kensington Park Rd Singapore 557271 

www.sgcc.com.sg 

li f E s t y l E 

TAKE CoNTRol oF YouR 

DATA SToRAgE 

Achieve unprecedented speed, convenience, 

reliability and security for your business 

Data control and storage can 

be massive headaches for 

businesses, especially small and 

medium enterprises (SMEs) who often 

lack the resources to populate and 

maintain a full-scale IT department. Yet, 

this aspect of a business is too important 

to overlook in this age of lightning-fast 

information access and cutting-edge 

technological advances. The challenge 

is to look for a secure and flexible data 

storage system that is both resilient and 

practical, yet does not cost the SME 

astronomical amounts of capital to set 

up and maintain. 

The TeraStation 5000 series (TS 5000) 

is Buffalo Technology’s latest entry into 

the network attached storage (NAS) 

market. Already a leading vendor in 

the worldwide consumer NAS market, 

Buffalo has outdone itself once again 

through the TS 5000 series of network 

storage solutions, a solid amalgamation 

of business features that will greatly aid 

the small and medium business. 

At first glance, the 6th generation 

TeraStation might come across as 

unimpressive: simply a small, ungainlylooking 

tower that resembles a scaleddown 

CPU. The TS 5000 series however, 

is built with SMEs in mind, incorporating 

features such as hot-swappable SATA 

hard drives (hard drives that can be 

replaced on the fly) to save downtime 

from failed hard disks; multiple LAN-ports 

and USB ports for greater ease in data 

transfer, including outlets for USB 3.0 

devices; a top-notch 1.86Ghz dual-core 

processor to facilitate a faster transfer of 

data, as well as a user interface that is not 

daunting to non-IT trained personnel. 

Indeed, the user interface is so 

streamlined and optimised for easy 

access that any member of the staff force 

can utilise the system without additional 

technical training. With two options 

– Easy or Advanced – 

users can decide what 

information they want 

displayed prominently and 

which details they want 

hidden, a feature that will 

both prevent clutter and 

information overload. 

Another interesting feature 

that is bundled with the TS 

5000 series is the ‘Failover’ 

function. Essentially a 

failsafe option between 

a pair of TeraStations, the Failover will 

automatically kick in once the backup 

TeraStation detects a failure in the main 

unit, transferring all data and user settings 

present on the failed drive to the backup 

one within 10 minutes. This means that 

in the event of a total systems failure, 

the business can still operate at tiptop 

efficiency while the failed drive is being 

replaced. 

The TS 5000 series of network accessed 

storage solutions boast simplicity 

and usability, and all of that at a very 

affordable price. SMEs can look forward 

to unparalleled levels of control for their 

data storage, as well as businessoriented 

features that will keep downtime 

to a bare minimum. 

TS 5400 

TeraStation 5000 Series Pricing 

TS 5200 (2-drive): S$799.00 

TS 5400 (4-drive): S$999.00 

sE p | Oc t 2012 


57

58 


sE p | Oc t 2012 


With a declining economy coupled 

with rising rents and wages, 

businesses in Singapore are 

more interested than ever in increasing 

productivity. 

Yes, productivity is the buzzword now, and 

businesses, which include small and medium 

enterprises, are looking towards improved 

technology and automation. Yet, the simple 

way, and arguably the most crucial one, lies 

in the employees and unfortunately this is 

often overlooked. 

RootING out youR 

pRoDuCtIvIty 

pRoblEMs 

The productivity-improving properties 

of a traditional herb: Ginseng 

Employee productivity is important because these are the 

people who ultimately help run your business and let’s face 

it, no degree of automation can fully replace your staff, at 

least not in the near future. 

Employees technically spend eight hours a day in the office, 

but a survey has shown that 1 in 2 workers here spend 

more than eight hours in the office each day. While it may 

seem like Singaporean workers are a hardworking bunch 

of people, it could also be implied that they are neither 

productive nor efficient in getting work done. 

Moreover, long periods of inactivity sitting at a desk and 

a lack of a well-balanced diet makes a person more 

susceptible to chronic illnesses like Type 2 diabetes amongst 

other conditions. In Singapore, 1 in 3 Singaporeans will 

develop diabetes by the age of 69, which translates to 11.3 

per cent of the local adult population. This is 2.8 per cent 

higher than the global average. 

Before you rush off to buy health supplements or sign up 

for a membership at an expensive gym (which will probably 

stop after a while), one effective, all-natural product that 

you can turn to is the Korean Red Ginseng. 

Ginseng is a traditional Asian herb that is known to not only 

fight fatigue and improve mental and physical stamina; it 

can also alleviate a variety of illnesses including cancer and 

diabetes. Imagine what a ‘miracle’ root this is: being able to 

make you smarter and at the same time, guarding you from 

so many ailments. The Korean Red Ginseng, in particular, 

gives you more bang for your buck because it contains 

more ginsenosides, the main active ingredient in ginseng, 

than those found in China and America. 

Here’s to a healthier and more productive workforce. 

Korean ginseng Corporation

60 


gETTINg YouR 

FEET WET IN 

BoATINg 

A brief introduction to 

this leisurely pastime 

The open seas hold immense 

promise for social recreation and 

corporate entertainment, at once 

containing both novelty as well as a sense 

of exclusivity. Holding business events 

or social gatherings onboard a yacht or a 

small boat will undoubtedly add a mark of 

prestige to any occasion celebrated on the 

high seas, yet many potential boat-owners 

are at a loss when it comes to actually 

getting a boat. 

The key decision for every prospective boat 

buyer is power or sail. According to Alan 

Pickering, founder of Promethus Marine, 

“The whole point about boating is that it’s 

‘horses for courses’,” in other words every 

person who is into boating and yachting 

has their own likes and preferences. Some 

people love the luxury of a motor yacht, with 

its full air conditioning, fancy sound system, 

plasma TV and well-appointed interior. 

Others meanwhile prefer the outdoorstype 

of experience, or enjoy sailing more, 

and so they would opt for a sailing boat 

which brings them closer to nature and the 

elements. 

In terms of size, a beginner can get into 

boating (either power or sail) with a boat as 

compact as 25ft to 30ft long, or with a small 

power boat or open motor launch, although 

the disadvantage of the latter lies in the fact 

that it does not have an enclosed cockpit to 

ward off rain showers. 

sE p | Oc t 2012 


“If you take a compact cabin cruiser for 

instance, you get a very fast, manoeuvrable 

craft with twin outboard which has a fully 

enclosed cabin accommodating four people 

comfortably,” Pickering added, “This kind 

of boat is perfect for family outings, fishing 

trips and popping over to the Southern 

Islands of Singapore for the day and we’d 

recommend such a product highly to a 

beginner.” 

For those with deeper pockets, a 72ft 

Princess motor yacht with accommodation 

for eight persons plus crew and a beautifully 

appointed Scandinavian-style designer 

interior could go for anything up to S$4 

million. Such a yacht can easily make 

trips to places like Tioman in Malaysia or 

Phuket or Koh Samui in Thailand whilst 

giving you all the comforts of an expensive 

condominium. 

Within the megayacht range – that is over 

100ft – their luxury interiors of palatial 

qualities and entertainment equipment 

that will put many theatres to shame; and 

those are just for the interior of the yacht; 

for outdoor entertainment these yachts 

boast jacuzzis, fully stocked outdoor bars, 

kayaks, water skis, storage space for dive 

equipment and small run-about dinghies. 

“Many yacht owners in Singapore seem 

to opt for something somewhere in the 

middle of these two extremes,” said Craig 

Marcombe, general manager of Promethus 

Marine. 

In addition, there is an emerging trend in the 

sale of so-called ‘passage-vessels’ which 

are designed for super long voyages at low 

speeds. Such boats even offer an attractive 

‘live aboard’ option for those who seek the 

discipline and the back-to-nature aspects 

of a shipboard life all year round. 

Boat buyers will probably wish to have the 

option of skippering their own boats and 

a Powered Pleasure Craft Driving Licence 

(PPCDL) course in basic seamanship may 

be taken at most marinas in Singapore at a 

cost of just a couple of hundred dollars. The 

course, which provides a license to skipper 

a boat in Singapore and international 

waters, takes just a few days and includes 

both theory and practical seamanship. 

Boat buyers need to be aware of the 

cost investment however, since this is not 

considered a cheap pastime. “Boat and 

yacht buyers should allocate approximately 

5-10% of the purchase cost of the yacht, 

depending on size, to its annual repair and 

upkeep, including the annual process of 

‘anti-fouling’ which is important to clean the 

hull of barnacles and crustaceans which 

impede the boat’s overall performance,” 

Pickering advises. 

Then, of course, there is also the cost of fuel 

for boat trips, and the cost of maintaining a 

crew for the larger vessels. A yacht in the 

70-80ft range might keep for instance a 

skipper and a deck hand. Many large yacht 

owners contract their crews as and when 

needed, others who prefer more personal 

service hire them full time. 

Singapore offers a good variety of marina 

berthing where boaters can keep their 

brand new yacht, including such new 

showcase marinas as ONE°15 Marina Club 


at Sentosa Cove and Marina at Keppel 

Bay which serves the Caribbean and 

Reflections condominium developments. 

Other marinas include the Republic of 

Singapore Yacht Club, the oldest marina in 

the region, and Raffles Marina situated near 

the second link at Tuas, while Changi Sailing 

Club caters mainly to the sailing community 

in Singapore. Each has their advantages 

in terms of location and facilities, as well 

as berthing fees and costs for water and 

electricity supply are quite comparable 

between all of them. 

For those who do not want the full-on 

commitment of yacht ownership, or who 

wish to test the water first, they can instead 

go for the charter option. A full crew is 

provided, as well as a stock of food and 

drinks, and all the customer needs to do is 

relax and soak up the joys of sailing while 

someone else looks after the hard work. 

The best thing about entertaining aboard 

a yacht is the option to bring the boat out 

to sea for even more fun and enjoyment. 

In Singapore, islands and cruising grounds 

which are suitable for fun family day trips 

exist, like St. John’s, the Sisters, Kusu, 

Lazarus, and the southern islands, as 

well as Bintan and Batam. The more 

adventurous can venture further afield to 

Tioman, and customised boat trips to such 

places for safety and greater sociability and 

enjoyment can be organised. 

sE p | Oc t 2012 


61

ga s t r O n O m i a 

A Modern 

Take onTradition 

With the Mid-Autumn Festival just around the corner, these intriguing 

creations will definitely add a creative flair to the festivities 

Baked Skin Bacon & Maple-Glazed 

Walnuts White Lotus Paste 

When the term “Mid-Autumn 

Festival” is mentioned, images 

of children bearing lanterns (both 

electronic and otherwise) and the familiar 

rotund shapes of mooncakes first come to 

mind. It has become such a staple in modern 

society that year after year, mooncakes 

of all shapes, sizes and variations adorn 

storefronts, some promising exotic fillings 

while others are baked in the likeness of 

familiar and popular characters. 

While not an exhaustive list of the variety 

of mooncakes out in the market, here are 

some of the special and unique offerings by 

two establishments this season. 

The Cathay Restaurant 

While the restaurant is known for its dim 

sum and retro décor, many do not know 

about its beautifully baked mooncakes. In 

addition to the standard fare of white lotus 

fillings with nuts and yolks, the “Teochew 

Yam Paste Mooncake” will water the mouths 

Snow Skin Cat Mountain King (CMK) 

Durian Pulp with Lotus Paste Mooncake 

Baked Skin Shitake & Braised Pork 

Paste with Yolk 

Cathay Teochew Yam Paste Mooncake Cathay Snow Skin Mooncake Cathay Assorted Snow Skin Mooncakes 

of fans of this traditional Teochew dessert, 

usually served at the end of celebrations. 

For the younger generation, a selection of 

mini snow skin mooncakes packed with 

modern flavours like chocolate truffle, 

mocha truffle and green tea is available for 

their enjoyment. 

Pine garden Cakes 

This is where it gets interesting. Pine 

Garden Cakes boasts a sizable selection of 

handmake mooncakes in a diverse variety 

D24 Durian Paste 

of exotic flavours. First up, the Baked Skin 

Bacon & Maple-Glazed Walnuts White 

Lotus filling is a combination of the East and 

West in a special baked package. A limited 

offering will be the Baked Skin Shitake and 

Braised Pork Paste with one yolk, promising 

a delightful experience with each bite of the 

perfectly prepared skin. Durian lovers can 

rejoice with the D24 Durian Paste and the 

Snow Skin Cat Mountain King Durian Pulp 

Lotus fillings, while the Crispy Skin Yam 

Paste confections will be a hit with the 

younger generation. 

With flavours like these and others out in 

the market, this Mid-Autumn Festival will 

definitely be a gastronomical experience 

under the full moon. 

For more information, visit 

• www.thecathayrestaurant.com.sg 

• www.pgcake.com 

sE p | Oc t 2012 


65

66 

cl a s s i f i E D s 

Regus Management 

Singapore Pte. ltd. 

Workspace Solution Provider 

T: 1800 622 1563 

www.regus.com.sg 

Regus provides modern, flexible 

workspaces that free businesses of all 

sizes, all over the world, to work more 

effectively. 

Pacific Forest 

Engineering 

T: 6368 6675 F: 6368 7039 

www.pacificforest.com.sg 

A multi-faceted enterprise that focuses 

on the design and building of life 

style homes and resorts, product 

manufacturing, trading and R&D for 

green solutions. Projects such as 

Four Seasons Resorts, Bora Bora are 

successful milestones etched into our 

company’s portfolio. 

PARKRoYAl on Kitchener Road 

Hospitality 

T: 6428 3000 F: 6297 2827 

http://www.parkroyalhotels.com/en/ 

hotels/singapore/kitchener_road/ 

parkroyal/index.html 

Located just a three-minute stroll away 

from the Farrer Park MRT Station, 

engaging participants in your business 

just got easier when PARKROYAL on 

Kitchener Road is your chosen venue. 

Organise a meeting of any scale with 

7 meeting venues to choose from; the 

hotel feature contemporary meeting 

rooms adorned with chic art pieces and 

equipment for your meeting needs. 

sE p | Oc t 2012 


SAP Asia 

IT Solutions 

T: 6664 6727 F: 66645002 

www.sap.com.sg/sme 

Over 88,000 SMEs worldwide rely 

on SAP’s SME solutions to help 

them streamline operations, improve 

efficiency and drive profitable growth. 

Learn how SAP and our experienced 

partners can help your business run 

better. 

oki Data (S) Pte ltd 

IT Solutions 

T: 6221 3722 F: 6594 0609 

www.oki.com.sg 

OKI is a major player in the printer 

market and is dedicated to creating 

relevant, high performance products, 

applications and services to meet the 

individual in-house printing needs of 

today’s large enterprises and SMEs. 

Cisco Systems (uSA) Pte ltd 

IT/Telecommunications 

T: 63177269 F: 63177796 

www.cisco.com/sg 

Cisco is the worldwide leader in 

networking that transforms how people 

connect, communicate and collaborate. 

Contact us at asksg@cisco.com to 

experience how we can transform your 

business! 

FMg Asia Pacific 

Consultancy 

T: 98313033/98571983 

www.fmgasiapacific.com.sg 

We provide consulting in Corporate 

Governance, focusing specifically on 

Risk Management and Internal Controls. 

Contact us for a non-obligatory 

discussion on how we can assist with 

your needs: enquiry@fmgasiapacific. 

com.sg 

A major factor in staying 

competitive in the 21st century 

will depend on the improvements 

to your business processes 

Starting up 

All companies started out small. The 

business processes first developed were 

typically driven from a need to accomplish 

a specific business task and were quickly 

put in place to serve a small internal team 

and a small customer base. 

losing Control As Business grows 

As the business grew, they were 

neglected and not updated to keep pace 

with the business environment. There 

was no time for anyone to review or refine 

the processes. Responsibility for these 

processes was further divided among 

many departments, as the organization 

tO p 5 

reasons to 

Focus on Your 

Business Processes 

In Closing 

Management must focus its attention on, and invest in resources to revamp the 

critical business processes that make companies efficient, effective, and adaptable to 

the needs of individuals, customers, and the organisation. Overhead costs can be cut 

as much as 50 per cent by applying these improvement methods to critical business 

processes. 

Unless we quickly refocus, we may soon find ourselves out of business. 

Robert Chew 

Associate Trainer 

d’oz International Pte ltd. 

got bigger. Additional checks and 

balances were added. One signature is 

now replaced by two, three or more and 

bureaucracy became the rule rather than 

the exception. No one really understood 

what was going on, so no one could 

audit the business processes to ensure 

they were operating correctly. 

losing That Customer Focus 

Along the way, the focus on the external 

customer was lost. The organization 

became more inwardly focused, and 

people did not really understand the 

impact of their activities on the external 

customer. Consequently, our business 

Top Five BPI Benefits 

Although there are a great number of ways as to how business process improvement 

will help the organization, the top five are: 

1 Enabling the organisation to focus on the customer. 

2 Allowing the organisation to predict and control change. 

3 Enhancing the organisation’s ability to compete by optimising on 

available resources. 

4 Providing a means to effect major changes to very complex 

activities in a rapid manner. 

5 helping the organisation effectively manage its interrelationships. 

processes became ineffective, out of date, 

overly complicated, burdensome, labor 

intensive, time consuming to the irate of 

both management and employees alike. 

sE p | Oc t 2012 


67

su b s c r i p t iO n fO r m 

yes, I would like to subscribe to Entrepreneurs’ Digest: 

1-year subscription – $41.40 

2-year subscription – $74.50 (save 10% off regular price of $82.80) 

(Postage fee inclusive) 

Subscriber’s Details: 

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Please send your subscription form with your cheque enclosed to: 

Association of Small and Medium Enterprises, 167 Jalan Bukit Merah, Tower 

4, #03-13, Singapore 150167 

Subscription is strictly non-cancellable and not valid with other offers 

or promotions. 

For enquiries, please contact us at: 6513 0388. 

Launched in September 

2004, Entrepreneurs’ Digest 

is a publication by ASME 

and the first SME-centric 

bi-monthly publication that 

provides a comprehensive 

information resource for the 

development of SMEs. 

Entrepreneurs’ Digest prides 

itself in providing quality 

and effective information 

to equip entrepreneurs, 

business owners, managers 

and decision makers to 

make informed decisions to 

grow their business.

ED 45

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