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Oct•Nov•Dec 2012 

ASIAN BUSINESS SUMMIT 

SBF calls for open 

regional trade 

Business Quotient / Business / People / Opportunities 

SBF turns 10 

SUSTAINABILITY AWARDS 2012 

Green companies 

honoured 

INNOVATIVE ECO LIVING 

Singapore’s future 

housing estates 

A PUBLICATION OF SINGAPORE BUSINESS FEDERATION 

A Reflection 

on its Growth

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Chairman’s Message 

1 

Stepping Forward 

into the Next Decade 

SBF is marking its 10th anniversary 

with a gala dinner this October. We have 

very strong support from our members, 

especially our past and present council 

members, for this event. I hope to see many 

of you at this special celebration. 

SBF has been transformed during this 

decade. Our membership has grown from 

15,000 to 18,400. There is now a wide and 

substantial engagement of our members 

and the wider business community. The 

Federation has been busy organising 

many valuable activities, events and 

overseas business missions for our 

members over the last few years. 

At our last AGM in June, 23 business 

leaders were installed as SBF council 

members for the 2012 to 2014 term. 

Eight council members left us and I 

wish to thank them for their long and 

distinguished service to the Federation. 

SBF owes its growth and progress to 

the dedication of the SBF Council, the 

Board of Trustees and the management 

team, past and present. 

The current global economic 

uncertainties have made it even more 

critical for us to expose our members 

to insights from our leading companies 

and leaders. In July, some of our 

members benefited greatly from the 

global economic perspective shared by 

Temasek Holdings’ strategy team. We 

also had an excellent dialogue with 

Emeritus Senior Minister Goh Chok 

Tong in August. 

We are entering the period of the year 

when we begin to make preparation 

for the work next year. We will be busy 

as there are many things to cover, the 

most important of which is to get your 

inputs for Singapore Budget 2013 and 

the National Conversation. We will 

be sending out surveys and organising 

focus groups, and I hope you will give us 

your valuable feedback. The corporate 

community is concerned with many 

business issues and SBF can be an 

effective voice to carry such concerns 

to our Government. 

On behalf of the SBF Council, I would 

like to thank our partners, trade 

associations, business chambers, 

government agencies and members 

for their strong support and 

contributions. Together, we 

have achieved a great deal. 

Tony Chew Leong-Chee 

Chairman 

Singapore Business Federation

2 

06 


Contents 

Economy Watch 

Navigating 

Singapore’s Growth 

Analysts say Singapore will 

ride out the year with low 

single-digit growth and a 

brighter outlook next year. 

08 

BiZ Voice 

Knowledge 

Exchange at GES 

Singapore hosts Global 

Entrepolis @ Singapore 

summit to capitalise on fastchanging 

markets. 

10 

BiZ Voice 

Calls for Stronger 

Commitment 

in Asia 

Third Asian Business Summit 

encourages closer ties in 

the region. 

12 

22 

Commentary 

Why Sustainability 

Reporting Matters 

It helps firms measure and 

assess their economic and 

environmental impact. 

In BiZ With 

Autodesk Expands 

Partner Programme 

The firm’s Clean Tech 

Partner Program aims to help 

Singapore become a hub of 

eco-centric innovation. 

16 

BiZ Feature 

Searching for El Dorado 

Singapore’s economic, political and social 

engagement with Latin America, especially 

Chile and Colombia, is on the rise. 

ABOVE: Colombia is undergoing massive upgrading of its transport 

systems and requires significant foreign direct investment to achieve this. 

Getty Images

4 


Publisher 

Singapore Business Federation 

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Singapore 089315, Tel: +65 6827 6828, 

Fax: +65 6827 6807, E-mail: mr@sbf.org.sg, 

Website: www.sbf.org.sg 

chairman 

Tony Chew 

chief executive officer 

Ho Meng Kit 

chief operating officer 

Victor Tay 

assistant executive director 

(member relations) 

Cheryl Kong 

director, corporate 

communications 

Gerald De Cotta 

Publishing Agent 

SPH Magazines Pte Ltd 

group editor 

Joanna Lee-Miller 

senior editor 

Low Ching Ling 

contributing editor 

Casuarina Peck 

sub-editor 

Winnie Fong 

creative director 

Alex Goh 

art director 

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associate account director 

Kaz Lim 

account manager 

Jasper Lee 

executive, client management 

Lim Hui Wen 

manager, publishing services 

Alice Chee 

For advertising enquiries, please call 

+65 6827 6828 or +65 6319 6326 

Business Quotient (BiZQ) is the official publication of the Singapore Business Federation, reaching 

out to over 20,000 of Singapore’s business elite, chief executives and entrepreneurs. The quarterly, 

published in collaboration with SPH Magazines, is your eye on Asian and global business trends, 

bringing you up to date on industry developments, the economy, country profiles, stories about 

successful companies and the people who lead them. 

24 

28 

Innovations 

Next-generation 

City Planning 

HDB and NEA look 

to new technologies for 

eco-friendly solutions. 

Inside SBF 

Organisations 

Honoured for 

Green Practices 

Firms are recognised for 

innovative, eco-friendly 

practices at the Singapore 

Sustainability Awards. 

International Markets 

Transforming 

34 Guangzhou 

The Sino-Singapore 

Guangzhou Knowledge 

City looks to turn vibrant 

provincial capital into an 

economic powerhouse. 

This news magazine is published by SPH Magazines Pte Ltd 

(Registration No. 196900476M) for Singapore Business Federation 

(Registration No. ROS138/2002TAP). Copyright of the materials 

contained in this magazine belongs to SPH Magazines Pte Ltd and 

Singapore Business Federation respectively. Nothing in here shall be 

reproduced in whole or in part without prior written consent of 

SPH Magazines Pte Ltd or Singapore Business Federation. Views 

expressed in this news magazine are not necessarily those of SPH 

Magazines Pte Ltd nor the Singapore Business Federation and 

no liabilities shall be attached thereto. All rights reserved. Editorial 

enquiries should be directed to the editor, BiZQ, SPH Magazines Pte Ltd, 

Media Centre, 82 Genting Lane, Level 7, Singapore 349567. 

Tel: +65 6319 6319, Fax: +65 6319 6227, E-mail: bizq@sph.com.sg. 

Unsolicited material will not be returned unless accompanied by a 

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reasonable care will be taken by the editor, no responsibility is assumed 

for the return of unsolicited material. MICA (P) 080/06/2012. Printed in 

Singapore by timesprinters, Singapore (Registration No. 196700328H). 

38 

SME Resources 

R&D Grant to 

Benefit More SMEs 

The Innovation and 

Capability Voucher has 

expanded its scope to include 

three new areas to help 

firms fund new research.

6 

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Economy Watch 

Navigating 

Singapore’s 

Growth 

Consensus among 

economists is that 

Singapore will ride 

out the year with 

low single-digit 

growth and a 

brighter outlook 

in 2013. BiZQ 

takes a closer look. 

Economists are leaning 

southwards in their shortterm 

predictions – in light of 

the gyrating performance of key US 

macroeconomic indicators, such as 

non-farm payrolls, the spluttering 

growth of anchor economies like 

Germany in the eurozone and 

down-trending growth in China. 

Given these global 

uncertainties, generating an 

accurate forecast for the Singapore 

economy can be, at best, challenging. 

Some may even say that such 

an endeavour in this current 

environment can be tantamount to 

crystal-ball gazing, as there is little 

visibility beyond a quarter. 

At the start of 2011, Singapore’s 

economy got off on a higher note. 

Since then, however, the nation’s 

economic performance has 

weakened significantly and risks to 

growth have risen considerably. A 

weakening eurozone – with strong 

possibility of a recession in the near 

term – will drag Singapore lower. 

“While exports have only 

slowed rather than collapsed, we 

fear that investment spending is 

starting to slow more markedly 

as organisations hold back capital 

expenditure plans amid heightened 

uncertainty in the global economy,” 

said Nomura’s Head of Equity 

Research Lim Jit Soon. 

Marginal contraction 

Based on the latest data from the 

Ministry of Trade and Industry 

(MTI), Singapore’s GDP grew 

1.7% for the first six months. The 

economy contracted marginally 

by 0.7%, on a quarter-on-quarter 

seasonally adjusted basis, thus 

reversing the 9.5% growth in the 

first quarter. 

Based on current MTI forecasts, 

Singapore’s GDP is expected to 

grow between 1.5% and 2.5% this 

CONSUMER 

PRICE INDEX 

rose from 5% in May to 

5.3% 

in June 

INFLATION 

3X 

higher than the 30-year 

average of 1.8% 

year. This is a narrower 

forecast from the earlier 

1% to 3% GDP range 

given earlier. 

It is still early to 

predict Singapore’s GDP 

growth for 2013. One of the 

first few to recently update 

its 2013 forecast was Citibank, 

which currently predicts 3.5% 

(down from its earlier forecast 

of 5%). Economists who have yet 

to update their GDP forecasts 

currently predict growth rates in 

excess of 5% for 2013. 

Sectoral highlights 

Taking a shorter-term view, ABN 

AMRO Senior Economist Maritza 

Cabezas said the contraction in 

manufacturing (notably biochemical 

output) and sluggish electronics 

exports in June painted a picture 

of weakening year-on-year exports. 

The weakening global economy 

will take its toll on the Singapore 

economy in the coming months. 

Taking an equally cautionary 

note, Credit Suisse economist 

Michael Wan said there are still 

some significant headwinds for 

Singapore’s economy. The Monetary 

Authority of Singapore (MAS) will 

have to look at the tail risks very

7 

CHART 1: GDP GROWTH SLOWING 

% YoY; 

%QoQ SAAR 

40 ■ 

30 ■ 

20 ■ 

10 ■ 

0 ■ 

-10 ■ 

-20 ■ 

– GDP growth (% YoY) 

– GDP growth (% QoQ 

seasonally adjusted 

annual rate) 

MAR 10 SEP 10 MAR 11 SEP 11 MAR 12 

CHART 2: INFLATION WOES 

1.9% 

-1.1% 

9 – 

% 8 YoY – 

7 – 

6 – 

5.3% 

5 – 

4 – 

2.7% 

3 – 

2 – 

1 – 

Historical average 1.8% 

0 – 

-1 – 

-2 – 

-3 – MAR 10 

SEP 10 MAR 11 SEP 11 

carefully as a lot of the slowdown 

in Europe has yet to feed through 

to the local economy, he said. 

Another accompanying 

challenge is the persistence 

of inflationary pressures. The 

consumer price index increased to 

5.3% in June, from 5% in May. As a 

DBS economist put it, inflation is 

presently about three times higher 

than the 30-year average of 1.8%. 

DBS economist Irvin Seah 

recently said that Singapore’s 

relatively high inflation is partly 

the result of its restructuring. 

“Against this background, there 

is scope for MAS to shift to a more 

accommodative monetary stance 

when it meets in October (2012). 

As the US continues to slow and 

the EU crisis remains anything 

but resolved, the odds of such 

action are on the rise,” he added. 

Feeling the ground 

Through a straw poll analysis 

of publicly listed companies 

announcing their quarterly or fullyear 

results, one can easily grasp the 

cautious mood. 

“Cautious”, “challenging economic 

conditions”, “weak traffic demand” 

(from transport companies), as 

well as “leveraging on leaner cost 

structures to tide operations over 

this period” are currently common 

buzz phrases. 

The reality is that while some 

sectors continue to experience 

growth, others will reach a plateau 

and the rest of the sectors will 

struggle to ride the downturn. 

Better times for maritime 

players 

One of the industries that continues 

to enjoy unabated growth is 

the offshore maritime industry, 

especially those with exposure to 

the oil and gas sector. 

Companies buoyed by this 

continued growth are ASL Marine, 

an integrated marine company that 

offers services in shipbuilding, ship 

repair and ship chartering; and 

Otto Marine, which specialises in 

building complex offshore support 

vessels, ship chartering and other 

offshore services. 

Mr Ang Kok Tian, Managing 

Director of ASL Marine, said that 

despite the uncertainty surrounding 

the growth prospects of the global 

economy, the offshore oil and gas 

industry appears to be relatively 

unscathed in the near term, with oil 

prices remaining at healthy levels. 

“This is expected to stimulate 

exploration and production 

activities, and generate demand for 

offshore support vessels. Indeed, 

we have seen increased activities 

in particular segments of offshore 

support vessels, even as the bulk 

and container shipping industries 

languish,” he said. 

Otto Marine Executive Director 

Aw Chin Leng said high oil prices 

continue to stimulate exploration 

and production activities, and 

demand for offshore support vessels 

remains encouraging. 

“We have been working on 

expanding our ship chartering arm 

by increasing our fleet and growing 

our geographical coverage,” he said. 

The company has just secured a 

time-charter contract for one of its 

support vessels and this is expected 

to generate about US$10 million 

(S$12.3 million) for the minimum 

scheduled period of the charter. 

Mr Nash Benjamin, 

CEO of FJ Benjamin 

Top of the 

group’s 

focus is to continue 

to be prudent in 

managing business 

risks, as it leverages 

on its key brands to 

capitalise on growth 

opportunities. 

- A statement from FJ Benjamin 

Creating stronger brands 

While companies in the maritime 

industry are enjoying growth, there 

are others such as the retail sector 

where managing product mixes and 

generating new retail concepts can 

make a significant difference. 

For example, Ossia International, 

a regional distributor and retailer 

of lifestyle products in footwear, 

reported a loss in the first half of 

2012 as a result of rising expenses 

in its wholesale business. 

The company had a net loss of 

S$419,000 in the first half of 2012, 

from a net profit of $2.43 million in 

the same period a year ago. 

Ossia is now looking to source for 

new exclusive international brands 

based on the market niche of the 

countries in which it operates. 

It is also intensifying its efforts 

to raise revenue and will focus on 

improving operational efficiency 

and cost management to stay 

competitive. 

For luxury retailer FJ Benjamin, 

however, the company continues to 

see a growth in its profitability. 

CEO Nash Benjamin said that 

there is always a need to strengthen 

the appeal of its brands. He also 

revealed that there were discussions 

to take on new brands, which will 

drive future growth. 

Top of the group’s focus is to 

continue to be prudent in managing 

business risks, as it leverages on its 

key brands to capitalise on growth 

opportunities. • 

SPH Library

8 


BiZ Voice 

Knowledge 

Exchange at GES 

Oct 23-25, 2012 

Resorts World Sentosa 

For more details, visit 

www.globalentrepolis.com. 

Summit aims to capitalise on fast-changing markets. 

and political, technological as well 

as trade-policy changes are forcing 

companies to fundamentally review 

their global supply chain strategies, 

so they can better manage risks 

and optimise business processes. 

Key topics discussed will include 

maximising business value through 

the supply chain financial structure, 

and planning/managing supply 

chains for crisis management. 

Getty Images 

Singapore is hosting the region’s 

business leaders’ summit – 

Global Entrepolis @ Singapore 

(GES) – this October. The summit 

will highlight global trends which 

could be game changers, including 

demographic and consumption 

pattern changes of rising Asian 

middle-class consumers, risks to 

global supply chains and emerging 

technologies which may disrupt 

current business models. 

More than 50 leading 

international speakers will provide 

insights into the global financial 

landscape in 2013 and the impact 

of leadership transition in major 

economies on regional businesses. 

The conference will also host several 

panel discussions. 

GES 2012 offers several 

programmes which include forums 

like Growth through Franchising, 

Supply Chain Leadership, Asia 

Pacific Sustainability Investment 

as well as Selection, Development 

and Retention of Your Highly 

Talented People. 

Growth through 

Franchising Forum 

The growth of home-grown brands 

in the region has seen the increasing 

reliance on franchising as a growth 

strategy to tap on local expertise 

and sustain revenue growth rate. 

This forum will highlight trends, 

opportunities and successful 

models in Asia. 

It will explore how emerging 

markets are becoming a priority 

for local and international 

companies looking to grow their 

businesses. In this session, leading 

industry speakers will discuss 

their franchising experiences in 

expanding their brands in 

emerging economies. 

Supply Chain 

Leadership Forum 

This forum will present interactive 

panel discussions by global supply 

chain experts and practitioners 

through case studies and discourse 

on best industry practices. It will 

explore how recent natural disasters 

Asia Pacific Sustainability 

Investment Forum 

This forum will provide an 

international platform for 

sustainability and clean-tech 

knowledge exchange, and 

business networking among 

experts, entrepreneurs, investors, 

practitioners and policymakers. 

The event will offer participants 

the opportunity to engage with 

growing clean-tech clusters in 

Europe and North America through 

the International Cleantech 

Network, which will be represented 

by key industry players from 

a variety of clusters, including 

utilities, solar energy, biofuels, 

electric vehicles and transport, as 

well as smart grid. 

Selection, Development 

and Retention of Your 

Highly Talented People Forum 

In today’s competitive market, 

selecting, developing and retaining 

talented people pose serious 

challenges for CEOs and senior 

executives globally. A company’s 

intellectual capital is its people. 

This forum will discuss the topic 

of talent management – from the 

identification of potential high 

performers to the retention of highperforming 

individuals for the longterm 

success of organisations. •

A magnet 

for talent, 

enterprise 

and industry 

The vision of Sino-Singapore Guangzhou Knowledge City (SSGKC) is to be a unique, vibrant and sustainable city 

that is highly attractive to both talents and knowledge-based industries. Positioned as a model and catalyst for the 

economic transformation and environmental enhancement of Guangdong, SSGKC will lead in creating innovations, 

new ventures and high-value products and services; and in building a sustainable, low-carbon city. 

Six pillar industries have been identified for development, namely: Information & Communication Technology, 

Biotechnology and Pharmaceuticals, Clean Technology, Next Generation Materials, Creative Industries and Science & 

Education services. If your organisation is looking to develop its capabilities and business opportunities in these fields, 

or is seeking a location for a regionl headquarters, we welcome your participation. 

Government incentives in the form of seed funding, R&D, technology support, patent application and more are 

available to companies who meet the requirements for financial aid. Attractive talent policies have also been put in 

place for participating enterprises. 

Sino-Singapore Guangzhou Knowledge City - your partner for growth and transformation. 

To find out more, please contact us at info@ssgkc.com or visit www.ssgkc.com.

10 


BiZ Voice 

Calls for Stronger 

Commitment 

in Asia 

Asian Business Summit looks to strengthen ties. 

Open trade in Asia 

SBF urged Asian governments to 

WORK TOWARDS 

AN OPEN REGIONAL 

TRADE AND INVESTMENT 

ENVIRONMENT 

SUPPORT THE FREE 

TRADE AREA OF THE ASIA- 

PACIFIC (FTAAP) 

COMMIT TO FREE AND OPEN 

TRADE IN THE REGION 

SBF recently led a Singapore 

delegation to Thailand 

to attend the third Asian 

Business Summit hosted by The 

Joint Standing Committee on 

Commerce, Industry and Banking 

of Thailand. 

During the summit, Asian 

business leaders spoke about 

regional and global challenges 

facing the business community and 

called for increased collaboration 

among Asian economies. 

Such collaboration can be 

achieved through sustaining robust 

growth in the region; deepening 

regional integration; developing 

infrastructure, robust supply chains 

and innovation and HR capabilities; 

as well as addressing energy and 

environmental issues. 

At the summit, SBF Chairman 

Tony Chew told the attendees: 

Mr Tony Chew, Chairman of SBF 

“To build an 

effective platform 

for regional 

integration, 

business 

communities need 

to work closely 

with each other and 

with governments.” 

“There is an urgent need to push 

ahead with regional integration 

so we can improve our region’s 

competitiveness.” 

He explained: “The business 

communities must collaborate 

closely to promote economic 

development across the region 

and in emerging markets. To build 

an effective platform for regional 

integration, business communities 

need to work closely with each 

other and with governments.” 

SBF urged Asian business leaders 

attending the summit to encourage 

their respective governments to 

exercise leadership and commitment 

towards an open, regional trade and 

investment environment. 

The apex chamber also 

appealed for strong 

support for 

realising the 

goal of the Free 

Trade Area of 

the Asia-Pacific 

(FTAAP), and for 

Asian economies 

to commit to free 

and open trade over 

protectionism. 

There is an urgent need to 

improve the business environment 

in Asia, and for the region to aim 

for high-standard cooperation 

agreements such as the Trans- 

Pacific Partnership, added SBF 

CEO Ho Meng Kit. He cited the 

ASEAN Framework for Regional 

Comprehensive Economic 

Partnership as an example of 

regional cooperation aimed at 

circumventing the spaghetti bowl 

of Rules of Origin issues that can get 

in the way of free and open trade. 

In addition, Mr Ho highlighted 

the concerns over an increase in 

the incidence of protectionism 

around the world recently. He 

urged leaders at the business 

summit to raise this issue with their 

respective governments, as resorting 

to protectionism practices will 

result in dire consequences for the 

sustained growth of Asia in the 

long run. 

The summit was attended by 

representatives from 14 business 

chambers and 

organisations 

from 12 Asian 

economies. •

11 

Make Cyberspace 

Safe for Business 

Firms are encouraged to 

prepare effective defences 

against cyber threats. 

More than 600 

representatives and 

industry experts met 

up recently to discuss cyber 

security and preparedness at the 

2012 National Security Conference 

in August. 

As companies’ critical 

infrastructure becomes increasingly 

interconnected through cyberspace, 

this can give rise to opportunities 

for malicious cyber attacks to 

disrupt the daily functions of the 

corporate world. This was one of 

the points that the conference 

highlighted. 

Industry experts said cyber 

security will need to depend on a 

shared responsibility between the 

public, private and people sectors. 

In his welcome remarks, Mr Tony 

Chew, Chairman of the Singapore 

Business Federation (SBF), said: 

“Singapore’s success and continued 

progress is highly dependent on a 

Companies need to boost cyber 

security by incorporating the 

Business Continuity 

Management 

process 

It is a holistic management 

process that identifies potential 

impacts that can threaten an 

organisation, and provides a 

framework for building resilience and 

capability for an effective response. 

safe and secure environment. Cyber 

threats are on the rise and, given 

our high dependence on Internet 

and online services, our companies 

need to boost their cyber security.” 

He urged firms to be proactive 

in protecting their businesses by 

incorporating Business Continuity 

Management (BCM) – a holistic 

management process that identifies 

potential impacts that can threaten 

an organisation, and provides a 

framework for building resilience 

and capability for an effective 

response. 

Keynote presenter, Mr Tate 

Nurkin, Managing Director of the 

Washington-based IHS Defence, 

Risk and Security Consulting, 

shared with participants the 

key emerging risks confronting 

companies today which could 

impact business competitiveness. 

In addition, a presentation by Mr 

John Yong, Director of Infocomm 

Security and Assurance at 

Infocomm Development Authority 

of Singapore (IDA), provided more 

insight into Singapore’s cyber 

security strategy and initiatives. 

The panellists shared valuable 

experiences and provided a candid 

take on cyber threats and measures 

they have taken to secure their 

businesses. 

The conference was organised 

by SBF and supported by the 

National Security Coordination 

Secretariat and IDA, with Singapore 

Infocomm Technology Federation 

as a partner. • 

Tapping into bizSAFE funding 

More companies are encouraged to 

join bizSAFE – a five-step 

programme to help firms build up 

their Workplace Safety and Health 

(WSH) capabilities in order to 

achieve significant improvements in 

safety and health standards at the 

workplace. 

More than 10,000 firms have 

done so since the programme was 

launched in 2007, said Mr Tan Chuan- 

Jin, Acting Minister for Manpower 

and Senior Minister of State for 

National Development. 

Speaking at the recent bizSAFE 

convention, Mr Tan pointed out that 

SMEs can tap on the Government’s 

Risk Management Assistance Fund 

to defray the costs of enhancing 

safety at their workplaces. 

He said that S$16 million out of 

the S$24 million set aside for the 

fund has been disbursed to 3,000 

SMEs since 2006. 

Since September last year, the 

WSH Act has been extended to 

cover all workplaces. Employers are 

required to identify work risks and 

address them through appropriate 

measures. 

Some companies who were 

awarded the bizSAFE certification 

include Chye Joo Construction, 

Hope Technik and urban water 

management company Netatech 

Engineering Pte Ltd, which attained 

bizSAFE Level 3 status recently. 

For more information, e-mail 

bizSAFE@wshc.sg. 

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12 


Commentary 

Why Sustainability 

Reporting Matters 

It helps companies measure their economic, 

environmental and social performance. 

Mr Thomas Thomas, Executive Director 

of Singapore Compact for CSR 

“SR is now more 

than a buzzword 

to business 

and accounting 

professionals. For 

the past year or 

so, the growing 

awareness of SR 

has led to greater 

proactive interest 

from companies and 

organisations.” 

agenda as firms now face increased 

queries about sustainability during 

shareholder meetings. 

Getty Images 

Fourteen per cent or 79 out 

of 562 Singapore listed 

organisations engaged in 

sustainability reporting (SR) in 

2011, representing a 25% increase 

over the previous year. 

This key finding released by 

Singapore Compact, a national 

corporate social responsibility (CSR) 

society, at the Institute of Certified 

Public Accountants of Singapore 

(ICPAS) Singapore Accountancy 

Convention last November, 

provided a useful snapshot of the 

non-financial reporting scene in 

Singapore. 

The companies with large market 

capitalisation, defined by market 

capitalisation of more than S$1 

billion, accounted for almost 60% 

of listed companies engaged in SR. 

“SR is now more than a buzzword 

to business and accounting 

professionals. For the past year or 

so, the growing awareness of SR 

has led to greater proactive interest 

from companies and organisations,” 

commented Mr Thomas Thomas, 

Executive Director of Singapore 

Compact for CSR. 

“Sustainability reporting is an 

important way to think about 

measuring or assessing companies’ 

performance. Finance professionals 

thus have a greater role to play 

within organisations – one which is 

not limited to figures, but integral 

to a firm’s various facets of 

operations,” explained Mr Evan 

Law, Acting CEO at ICPAS. 

Holistic disclosure 

In June 2011, SGX released its 

Guide to Sustainability Reporting 

for Listed Companies, thus 

reinforcing the importance of 

sustainability reporting. 

Going beyond the regulatory 

disclosure of financial and 

governance aspects, companies 

should further assess and disclose 

the environmental and social 

aspects of their organisational 

performance voluntarily. 

Increasingly, such reporting 

has become part of a board’s 

Labour practices 

While non-financial reporting 

has been practised for years, most 

organisations traditionally focused 

on charity-related activities, such 

as donations or man hours put into 

volunteer projects. 

However, this is no longer 

deemed adequate. Although the 

projects mentioned above benefit 

society, they may remain peripheral 

to an organisation’s core goals. 

Instead, key areas of corporate 

responsibility include governance, 

labour practices and resource 

management. Such areas are 

scrutinised for clues to a company’s 

ability to sustain in the long run. 

For example, property developers 

such as City Developments Limited 

(CDL) and Keppel Land stood 

out in their disclosure of resource 

consumption and management. 

CDL further detailed energy 

and water usage, broken down 

across various divisions and 

developments with a five-year 

comparison, as well as recycling 

and waste-generation quantities. 

This form of corporate 

responsibility is more pragmatic, 

p.14

There’s nothing like Australia to inspire 

the world’s greatest minds 

This year we chose Australia for our global 

congress. It was an easy choice, as Australia’s 

proximity to Asia gave us the opportunity to 

attract many new delegates. 

The program was one of the best in years. 

New Australian developments in our 

field attracted a lot of interest and 

strong international research partnerships 

were established. 

Australia is on everyone’s list to visit, and it 

lured our highest number of delegates yet. 

There’s no doubt they’ll be talking about this 

convention for years to come. 

Dr Louise Wong 

International Board Member 

Visit businessevents.australia.com/ 

associations 

for everything you need to plan your 

Australian event.

14 


Commentary 

SUSTAINABILITY 

REPORTING 

can help companies 

1 

identify material 

sustainability issues 

2 

improve productivity 

3 

enhance relationships with 

shareholders and key stakeholders 

4 

showcase their well-rounded 

performance to investors 

far-sighted and focused on achieving 

business success on multiple levels. 

It is no mere coincidence that some 

of the more successful corporations 

in Singapore have committed to 

reporting ahead of their peers. 

SGX and Fraser and Neave 

Limited have reported governance 

details, such as dates of appointment 

for individual board members, 

present and past directorships and 

serving committees, remuneration 

levels and performance shares 

granted, including exercise prices 

and expiry dates in some cases. 

Global practices 

To compete in the competitive 

global arena, sustainability has 

increasingly become part of 

companies’ identity. CDL is the 

only Singaporean firm to make it 

to the Global 100 Most Sustainable 

Corporations list three years in a 

row. CDL also follows the latest 

standards such as the ISO 26000 

Guidance on Social Responsibility. 

This is a key part of its ongoing 

sustainability strategy. 

The organisation was also one 

of the first in Singapore to disclose 

its information systematically, 

using the Global Reporting 

Initiative framework, which is 

globally applicable and sets out 

general principles and indicators 

that listed companies can use 

to measure and report their 

economic, environmental and 

social performance. 

Communicating what matters 

Sustainability reporting has also 

emerged as an important form 

of communication with external 

stakeholders such as shareholders 

and suppliers, as well as internal 

stakeholders like employees. 

Mr Chia Boon Chong, Deputy 

Director of Group CSR at SingTel, 

observed some positive responses 

from internal stakeholders who had 

made contract decisions based on 

more than just the bottom line. 

Like traditional forms 

of financial accounting, a 

sustainability report does not 

indicate that a company is more 

responsible. Instead, it provides 

a clearer understanding and 

disclosure of existing actions 

and measures, and ties this to an 

organisation’s various bottom lines. 

Captain Simon Bennett, 

General Manager of Sustainable 

Development, Swire Pacific 

Offshore Operations, also cautioned 

against assuming that reporting 

brings direct financial value. The 

value of sustainability accounting 

is its ability to provide a clear 

picture for continued selfassessment 

and improvement. 

Mr Kevin Lee, Environmental 

and Corporate Services Manager, 

Governing social impact 

Investor Demand for Environmental, 

Social and Governance (ESG) 

Disclosures: Implications for 

Professional Accountants in 

Business, a report published by 

the International Federation of 

Accountants, highlights the potential 

for businesses to improve the 

management and reporting of ESG 

performance. 

Guidelines: 

● Engage investors effectively to 

understand their information needs 

and communicate performance. 

● Incorporate ESG factors and nonfinancial 

performance information 

PowerSeraya Limited noted that 

the company’s commitment to 

sustainability reporting has allowed 

it to better align its interests with 

those of stakeholders, and has 

even helped boost morale among 

employees who identified with the 

underlying value principles. 

Future trends 

A sustainability report can help 

companies identify material 

sustainability issues and enhance 

productivity as well as relationships 

with shareholders and other key 

stakeholders. 

SR allows companies to showcase 

their well-rounded performance to 

investors and stakeholders. 

For professionals tasked 

with measuring performance 

in environmental, social and 

governance aspects, this means 

a deeper understanding of their 

firms’ non-financial performance 

information. • 

This article was contributed by 

Singapore Compact and ICPAS 

Research. 

into governance and accountability 

arrangements, to improve 

information and disclosure quality. 

● Link financial and non-financial 

performance and outcomes 

to improve understanding of 

sustainable value creation. 

● Ensure ESG disclosures meet 

investor needs by being material, 

timely, consistent and comparable, 

in order to improve usefulness of 

reporting and transparency. 

● Bring together data that may be 

dispersed in different parts of the 

organisation or its supply chain 

to support internal and external 

decision-making.

16 


BiZ Feature 

Searching 

for 

El Dorado 

Singapore companies and analysts are 

attracted to Latin American countries like 

Chile and Colombia, due to their huge 

domestic and urbanised markets. 

Getty Images 

Latin American countries 

like Brazil and Mexico 

have been on the radar in 

recent years, but emerging 

markets, such as Colombia 

and Chile, have taken on heightened 

importance in recent months. 

Industry experts say the focus 

on the Latin American landscape 

is due mainly to the US economy 

remaining extremely sluggish, the 

eurozone still mired in long-term 

financial resolutions and China’s 

economy turning down the corner. 

As a key player within the Asian 

region, Singapore’s economic, 

political and social engagement 

with Latin America is on the 

rise. The interest in this region is 

reflective in the upcoming Latin 

Asia Business Forum 2012 to be held 

in Singapore in October, when the 

energy, infrastructure and industrial 

development sectors are grabbing 

the spotlight. 

Hosted by IE Singapore 

since 2004, this forum is a good 

platform for fostering trade and 

investment by identifying emerging 

opportunities and harnessing 

new engines of growth. 

Growing trade relations 

Bilateral trade between Singapore 

and Latin America hit S$37.9 billion 

last year – 3.8% of Singapore’s total 

trade – and the figure is expected 

to increase this year on the back 

of more free trade agreements. 

Businesses in both regions 

can tap on a growing suite 

of trade- and investmentfacilitating 

agreements. 

Singapore has four free 

trade agreements (FTAs) 

with Chile (via the Trans- 

Pacific Partnership), 

Costa Rica, Panama and 

Peru, and two Investment 

Guarantee Agreements 

with Mexico and Peru. 

In addition to the 10 

Air Services Agreements 

with Argentina, 

Barbados, Brazil, Chile, 

Colombia, Ecuador, 

Jamaica, Mexico, 

Panama and Peru,

17 

Mr Matias Mori, Executive Vice- 

President of Chile’s Foreign 

Investment Committee 

“Distance and 

a lack of knowledge 

and understanding 

are some of the main 

barriers to Singapore 

companies entering 

Chile. This may 

change as more East 

Asian companies, 

which have similar 

business ethos with 

Singapore firms, 

continue to make 

inroads there.” 

Singapore has two Avoidance of 

Double Taxation Agreements with 

Mexico and Chile. 

Besides, Singapore has a 

Memorandum of Understanding 

(MOU) with the Inter-American 

Development Bank, which enables 

Singapore companies to exchange 

ideas in areas such as infrastructure, 

urban planning, logistics, transport 

systems and education. 

The republic also has an MOU 

with Mercosur – the economic 

bloc comprising Argentina, Brazil, 

Paraguay, Uruguay and Venezuela 

– to explore trade and investment 

opportunities. 

According to IE Singapore, Latin 

America’s presence in Singapore is 

growing steadily, as large companies 

across various sectors have set up 

regional operations in Singapore. 

These businesses include aircraft 

manufacturer Embraer, oil and 

gas giants Petrobras and PMI 

(the oil trading arm of Mexican 

National Oil Company PEMEX), 

wine producer Concha y Toro, 

engineering companies Tenaris 

and WEG, mining company Vale, 

cement manufacturer CEMEX and 

meat producer Perdigao. 

Chile: Entry point to region 

Singapore companies looking to 

break into the Latin American 

market should look no further than 

Chile. The country was Singapore’s 

12 th largest Latin American trading 

partner in 2011, with total trade 

increasing 78% from the previous 

year to S$481 million. 

The country borders Peru to 

the north, Bolivia to the northeast, 

Argentina to the east and the Drake 

Passage in the far south. Chilean 

territory includes the Pacific islands 

of Juan Fernandez, Salas y Gomez, 

Desventuradas and Easter Island. 

Chile ranked well in 

Transparency International’s 

Corruption Perceptions Index last 

year, coming in 22 nd out of 182 

economies, while Singapore came 

in fifth. In terms of ease of doing 

business, the South American 

nation was also ranked 39 th out of 

183 economies by the World Bank 

this year, ahead of other Latin 

American countries like Peru (41 st ), 

Colombia (42 nd ), Mexico (53 rd ), 

Argentina (113 th ) and Brazil (126 th ). 

During his recent trip to 

Singapore earlier this year, Mr 

Matias Mori, Executive Vice- 

President of Chile’s Foreign 

Investment Committee, said: “Asian 

countries are investing more and 

CHILE’S 

RANKINGS 

22 nd 

out of 182 economies in 

Transparency International’s 

Corruption Perceptions Index in 2011 

39 th 

out of 183 economies in terms of 

ease of doing business in 2012 

CHILE’S 

TRADE FIGURES 

The nation was Singapore’s 

73 rd largest 

trading partner in 2011, 

with total trade amounting to 

S$481 million 

up from S$270 million in 2010 

Bilateral trade (S$ thousands) 

2010 2011 

Imports 216,668 389,368 

Exports 53,513 91,630 

Total Trade 270,182 480,999 

Source: IE Singapore 

more in Chile. Singapore companies 

should also explore Chile so as to 

not miss the first-mover advantage.” 

He said Singapore firms could 

check out sectors such as mining, 

services, food, energy, infrastructure 

and manufacturing and assembly. 

Mr Mori noted that distance 

and a lack of knowledge and 

understanding are some of the main 

barriers to Singapore companies 

entering Chile. This may change 

as more East Asian companies 

from China and Taiwan, which 

share a similar business ethos with 

Singapore firms, continue to make 

inroads there. 

Examples of some Singapore 

players in Chile are Sembcorp, 

which already operates a water 

treatment facility there, and 

Marshall Cavendish. The Singapore 

publisher has trained 1,000 

teachers in 300 Chilean schools 

to teach students Singapore-style 

mathematics. 

Mr Mori met up with the 

Singapore Business Federation, 

Hyflux, Sembcorp and IE Singapore. 

p.18 

SPH Library


18 

BiZ Feature 

Getty Images 

Colombian President 

Jose Manuel Santos 

“The country 

needs to 

invest more 

than US$100 billion 

in infrastructure 

(roads, rail, ports 

and airports) in the 

next 10 years and 

Singapore is a 

natural partner.” 

He said companies such as Hyflux, 

Keppel Corp and Changi Airport 

Group had expressed strong interest 

in investing operations in Chile. 

Colombia an emerging player 

It has a unique geo-strategic 

location, with ports on both the 

Atlantic and Pacific coasts. It can 

provide access to Central and North 

America to the north, and the Latin 

American markets to the south. 

The World Bank’s Doing 

Business 2012 ranking data reported 

that Colombia is the third-best place 

in Latin America to do business 

this year. It was also Singapore’s 

ninth largest trading partner in 

Latin America and the Caribbean in 

2011. Trade between both countries 

amounted to S$756 million last year, 

according to IE Singapore figures. 

The top three imports into 

Singapore from Colombia are 

refined petroleum products, crude 

petroleum and nickel, while 

Singapore’s top exports to Colombia 

were civil engineering equipment 

parts, pumps for liquids and 

medical apparatus. 

Moreover, Colombia requires 

investment, products and services in 

industries and businesses in which 

Singapore has traditionally been 

strong. These areas of potential 

growth include oil 

and gas, consumer 

goods and services 

to serve the growing 

middle class, as well as 

infrastructure development. 

One area of immediate 

growth in Colombia 

is infrastructure. The 

country is undergoing 

massive upgrading 

of its transport 

systems (roads, 

rail, ports and 

airports) and 

requires significant 

foreign direct investment 

to achieve this. 

In addition, Colombia is 

upgrading its water and sanitation 

systems, and its strong domestic 

industrial sector is seeking more 

sustainable energy solutions. In 

both sectors, Singapore companies 

have established strong track 

records globally, and have a wellearned 

reputation for providing 

urban transport infrastructure 

systems, solutions and services, 

COLOMBIA’S 

TRADE FIGURES 

The country was Singapore’s 

65 th largest 

trading partner in 2011, 

with total trade amounting to 

S$756 million 

up from S$331 million in 2010 

Bilateral trade (S$ thousands) 

2010 2011 

Imports 210,124 635,764 

Exports 120,726 120,132 

Total Trade 330,850 755,897 

Source: IE Singapore 

as well as 

environmental 

solutions, particularly in the areas 

of water and waste management. 

Last year, Colombia opened 

its first-ever export promotion 

office – ProExport Colombia – in 

Singapore, which will help more 

local businesses explore investment 

opportunities in Colombia. 

Against this backdrop, 

Singapore and Colombia marked 

their growing mercantile 

relationship with the signing of an 

MOU between IE Singapore and 

the National Business Association 

of Colombia in May. The MOU 

pledged to further cooperation 

between the two countries so as 

to promote growth opportunities 

of common interests, through 

regular information exchange and 

collaboration in trade events. 

In addition, a bilateral Air 

Services Agreement was signed 

between Ms Maria Angela Holguin 

Cuellar, Colombian Minister of 

Foreign Affairs, and Mr Lui Tuck 

Yew, Singapore’s Minister for 

Transport and Second Minister for 

Foreign Affairs. 

p.20

ise 

fundsupermart.com 

INVEST GLOBALLY AND PROFITABLY

20 

SPH Library & Getty Images 


BiZ Feature 

Ms Lee Fei Chen, Head of Publishing at 

Marshall Cavendish Publishing Group 

“Colombia has 

changed over the 

years. In fact, the 

differences, I feel, 

would be more 

related to culture 

rather than those of 

unrest and violence.” 

Investing in infrastructure 

Colombia wants to follow in 

Singapore’s success in building a 

culture of innovation, R&D and 

productivity, said President Jose 

Manuel Santos during a recent 

visit to Singapore. 

Mr Santos said the country 

needs to invest more than 

US$100 billion (S$122 billion) in 

infrastructure (roads, rail, ports and 

airports) in the next 10 years and 

Singapore is a natural partner. 

R&D and biotechnology are 

another two key areas where 

Colombia has tremendous 

potential because “we are the richest 

country in the world per square 

kilometre in terms of biodiversity”, 

explained Mr Santos. 

Old perceptions of Colombia, 

that it is a country fraught with 

corruption and social unrest, are 

unlikely to disappear overnight. 

However, Ms Lee Fei Chen, Head 

of Publishing at Marshall 

Cavendish Publishing Group, said: 

“I think Colombia has changed over 

the years. In fact, the differences, 

I feel, would be more related to 

culture rather than those of unrest 

and violence.” 

Given the potential areas of 

cooperation in investment and trade 

between Colombia and Singapore, 

local companies venturing into 

Colombia may benefit from earlymover 

advantage, thereby increasing 

the likelihood of successful entry 

into the Colombian market. • 

Singapore’s success stories 

While Colombia represents a 

fairly new market for Singapore 

companies, there are examples of 

early adopters who have leveraged 

on their expertise to build successful 

businesses in the country. 

Marshall Cavendish 

The company is the leading K-12 

educational publisher in Singapore, 

and a co-publisher with Singapore’s 

Ministry of Education for the 

primary and secondary school 

curriculum. 

Globally, its series have also been 

endorsed and adopted by other 

education ministries. 

In December last year, Mr 

Jose Herrera, District Education 

Secretary for the northern 

Colombian city of Barranquilla, 

initiated a pilot Pensar Sin 

Limites (Grade 1) programme. 

The pilot programme involved 

2,000 pupils and 80 master 

teachers, and includes 

the provision of 

curriculum materials 

and full professional 

development for master 

trainers. 

Building on the 

success of this pilot 

programme, Marshall 

Cavendish is seeking to 

introduce its professional 

development and 

curriculum materials 

to the Colombian 

education programme. 

OLAM International 

Its presence in Colombia started at 

the end of 2006, with the purchase 

of a coffee-milling factory in the city 

of Armenia located in the country’s 

main coffee-growing area. This 

entry into the Colombian coffee 

market was aligned with the 

company’s strategy of expanding in 

Central and South America. 

After five years, Olam is among 

the five largest private coffee 

exporters in the country. The firm 

has its main office in Bogota, and 

is present in all the main coffeegrowing 

areas in the country. Olam 

buys products as close to the farm 

gates as possible – in order to better 

manage both the supply chain and 

risks involved in the business. The 

processed green coffee is then 

exported to Olam’s global clients 

or sold to local customers. 

Olam’s decision to set up 

operations in Colombia was based 

on the importance of the country 

as a coffee producer and exporter 

in the long term. The firm also aims 

to expand in the medium term by 

adding other operations to grow 

its Colombian presence into a 

multi-commodity business. Other 

products of interest include teak, 

sugar, cocoa, oil palm, and rubber. 

Source: IE Singapore


22 

In BiZ With 

Autodesk Expands 

Partner Programme 

Suite of design engineering software offers highquality 

3-D simulations for clean-tech industry. 

Singapore-based company 

Greenlots is looking forward 

to lead the electric vehicle (EV) 

charging solutions market with 

innovative devices with eco-friendly 

designs that will help the company 

compete globally. 

The firm designs and delivers 

hardware and software to enable 

EV makers and distributors to set 

up their own EV charging network. 

As interest in electric vehicles 

gains momentum globally and 

more such vehicles are on the road, 

accessible and intelligent charging 

infrastructure facilities are needed. 

Greenlots’ solutions 

include user-centric 

software and 

charging devices. Its Mode 3 

intelligent charger is considered one 

of the most advanced worldwide 

and can fit different standards. 

The company has installed 10 

charging stations in Singapore and 

is working on the roll-out plan for 

the national charging platform. 

Seeing the need to develop 

intelligent and scalable EV 

charging infrastructure that can be 

deployed globally, Greenlots became 

the first Singapore-based company 

to join the Autodesk Clean Tech 

Partner Program. 

Design improvements 

The Autodesk Clean Tech Partner 

Program provides the company with 

digital prototyping software, with 

the aim of achieving innovative 

designs to help address some of the 

challenges in current designs. 

Greenlots plans 

to use the 

Autodesk 

Inventor 

software for 

stress-testing its 

electric vehicle 

chargers, as 

they are used 

Mr Yeoh Keat Chuan, 

Managing Director of EDB 

“The Autodesk 

programme 

complements 

Singapore’s efforts 

to become a ‘living 

laboratory’, where 

companies can 

test, develop and 

commercialise cleantech 

solutions before 

scaling them up for 

global markets.” 

frequently throughout the day. The 

firm will now be able to digitally 

simulate design improvements. 

In addition, the Eco Materials 

Adviser feature in the Inventor 

software will help the company 

select the most environmentally 

friendly materials. 

It also intends to use Autodesk 

3ds Max Design software to create 

high-quality 3-D visualisations for 

its marketing and sales efforts. 

Greenlots Managing Director 

Oliver Risse said of the partner 

programme: “Joining Autodesk’s 

Clean Tech Partner Program gives 

us access to professional design 

software that will help us 

compete globally.” 

3-D designs and simulations 

Last November, Autodesk 

expanded its Autodesk Clean 

Tech Partner Program in Singapore. 

The scheme provides digital 

prototyping software to 

emerging and established 

clean-technology 

companies. 

“Singapore is rapidly 

gaining momentum as a hub 

of clean-tech innovation,” 

commented Ms Lynelle 

Cameron, Senior Director of

SINGAPORE AIMS TO GROW 

THE CLEAN-TECH INDUSTRY 

TO CONTRIBUTE 

S$3.4 billion 

of added value to its 

GDP and provide 

18,000 jobs 

by 2015 

Sustainability and Philanthropy at 

Autodesk. 

Singapore is the second country 

in the Asia-Pacific region, after 

Japan, to offer the programme, 

which is open to all of Singapore’s 

innovative clean-tech companies, 

including those specialising in 

solar energy, fuel cells, biomass, 

wind energy, tidal energy, energy 

efficiency and carbon-reduction 

services. 

According to the Economic 

Development Board, Singapore aims 

to grow the clean-tech industry to 

contribute S$3.4 billion of added 

value to the country’s GDP and 

provide 18,000 jobs by 2015. 

Mr Yeoh Keat Chuan, 

Managing Director of EDB, said 

the programme “complements 

Singapore’s efforts to become a 

‘living laboratory’, where companies 

can test, develop and commercialise 

clean-tech solutions before scaling 

them up for global markets”. 

Creating a sustainable world 

Eco-friendly design, clean energy 

and clean technologies have become 

the new hot buttons for many 

countries and businesses alike. 

According to the 2010 Thomson 

Reuters’ Cleantech Handbook 

for Asia Pacific, the Asia-Pacific 

region will be the largest energy 

and clean-technology market in 

the world by 2030. 

Innovative technologies 

and business models are 

expected to address today’s 

environmental challenges, 

such as climate change, resource 

depletion, water scarcity and 

limited energy sources. 

Companies now invest 

more resources in their 

design teams, who now 

understand the environmental 

implications of what they are 

designing. Today’s advances in 

3-D design technology point to a 

more sustainable future. 

With high-tech tools at our 

fingertips, we can integrate 

ecological impact into our design 

processes. With sophisticated 

Creating 

eco-friendly 

designs. 

analysis and data integrated into 3-D 

modelling software, environmental 

data is becoming widely accessible 

so informed design decisions can be 

made. Designers can also optimise 

their product designs to reduce their 

impact on the environment. 

In this manner, organisations 

can offer the promise of creating 

a more sustainable world with the 

introduction of eco-friendly and 

breakthrough designs and solutions. 

The Autodesk Clean Tech 

Partner Program supports the 

efforts and innovations of cleantechnology 

corporations. This is 

through providing sophisticated 

software to design, visualise and 

simulate innovative ideas through 

the creation of digital models and 

prototypes. 

With digital prototypes, cleantech 

innovators can explore 

and communicate ideas, test 

multiple concepts and accelerate 

improvements, while reducing 

potentially costly errors. 

The programme aims to match 

advanced design technologies with 

enterprising clean-tech companies, 

and help them bring their ideas to 

the market faster and in a more 

cost-effective way. 

This drive for innovative, ecocentric 

processes will lead to 

the development of eco-friendly 

products that will improve 

our lifestyle and reduce carbon 

footprint, energy consumption as 

well as waste. • 

Simulating 

innovative designs 

The Autodesk Clean Tech Partner 

Program supports the efforts and 

innovations of clean-technology 

companies. This is through 

providing sophisticated software 

to design, visualise and simulate 

innovative ideas through the 

creation of digital models and 

prototypes. 

Clean-tech companies in 

North America, Europe, Japan and 

Singapore that can benefit from 

Autodesk solutions for digital 

prototyping are invited to apply to 

the Autodesk Clean Tech Partner 

Program, which provides up to 

US$150,000 (S$183,000) worth of 

software for only US$50. 

Each Clean Tech Partner in 

Singapore will receive up to five 

licences of: 

● Autodesk Product Design Suite 

Ultimate 

● Autodesk Vault Professional 

● Autodesk Simulation Mechanical 

● Autodesk Inventor Publisher 

● AutoCAD Revit Architecture Suite 

With digital prototypes, cleantech 

innovators can explore 

and communicate ideas, test 

multiple concepts and accelerate 

improvements, while reducing 

potentially costly errors. 

For more information, including 

application process details for the 

programme in Singapore, visit 

www.autodesk.com.sg/cleantech. 

23 

Getty Images

24 


Innovations 


City Planning 

HDB and NEA look 

towards new technologies 

for sustainable 

environmental solutions. 

Getty Images 

By 2020, housing estates in 

Singapore will feature welldesigned, 

energy-efficient and 

sustainable communities. So living 

in Singapore may mean a smaller 

carbon footprint, resulting in a 

bigger and more positive impact on 

our environment. 

The Housing and Development 

Board (HDB) is working with EDF- 

Veolia to create a city-modelling 

system that will help HDB develop 

sustainable urban-planning 

solutions in HDB towns. 

A new modelling tool will 

be used to simulate a city’s 

impact on resource utilisation, 

the environment, people and 

costs, using the complex systems 

modelling technique which is 

multifaceted and can analyse more 

complex scenarios. 

It will also be a decisionmaking 

tool that improves HDB’s 

planning and urban design 

NEA & IBM 

JOINT PROJECT 

will develop predictive models in the 

following key environmental domains: 

1 

AIR QUALITY 

2 

WEATHER FORECAST 

3 

DENGUE PREDICTION 

4 

FOOD POISONING 

strategies in enhancing 

the liveability of its towns. 

To be completed by next year, 

the tool is useful in planning for 

both existing and new towns, 

which include areas such as: 

● The most efficient mix of land use, 

such as a blend of residential blocks, 

commercial development and green 

spaces within a town, and how 

different densities could impact 

transport, amenities, facilities and 

living space. 

● The best building typologies for 

taking advantage of sustainable 

technologies, such as exploring 

how to maximise the use of solar 

photovoltaics (PV) by considering 

shading patterns and creation of 

roof spaces, or how to design and 

place new HDB blocks to maximise 

wind flow within the town. 

● Predicting behavioural responses 

to sustainability measures 

introduced, such as uptake of 

cycling for intra-town travel by 

residents through the effective 

design of new cycling paths. 

In Jurong East, a pilot Greenprint 

neighbourhood, one of the targets is 

to achieve lower carbon emissions 

through the installation of solar 

panels on existing rooftops. The 

new Systems Model can help 

determine the best solution and 

identify trade-offs in deploying 

solar panels and green roofs. 

However, there are competing 

needs, such as more greenery on 

the roofs. 

Advanced modelling 

The National Environment Agency 

(NEA) and IBM are working 

on a joint three-year research 

collaboration to develop advanced 

modelling and predictive solutions 

on air quality, extreme weather 

events, dengue outbreaks and food 

poisoning incidents in Singapore. 

The NEA’s S$13 million project 

will rely on real-time data from 

its sensors and mobile apps, and 

researchers will use advanced 

analytics to capture data in real 

time to enable accurate forecasting 

and proactive measures to be taken. 

For example, the forecasting 

capability will help NEA inform 

the public in advance of any 

changes in air quality. 

NEA and IBM will co-develop 

four sets of predictive models in 

the following key environmental 

domains in Singapore: 

● Air quality – By tracing and 

tracking the pollution source 

quickly, NEA officers will be able 

to deal with an incident through 

targeted inspections at the likely 

sources of pollution. 

● Weather forecast – Models will 

be developed to forecast heavy 

rainfall events or wind gust speed 

at a given location, allowing early 

warnings and alerts. 

● Dengue prediction – The 

effectiveness of the dengue-control 

programme will be enhanced 

through the prediction of areas

HDB Greenprint 

A key initiative under the Roadmap 

for Better Living in HDB Towns, 

the HDB Greenprint was unveiled 

in 2011 and is designed to bring 

sustainable living to existing HDB 

estates. 

One of the three key thrusts of 

the roadmap is to create vibrant and 

sustainable towns, with eco-friendly 

initiatives and solutions that can be 

implemented from the household to 

town-wide level. 

HDB’s roadmap sets out key 

priorities for its focus over the next 

five to 10 years, and some of the 

key initiatives include a S$1 million 

Greenprint Test-bedding Fund to 

encourage the development of 

sustainable solutions, energy- and 

water-saving solutions for the 

common areas and green-home 

packages to encourage residents to 

switch to energy-efficient appliances. 

with a high risk of dengue as well 

as the evaluation of proposed 

preventive measures. 

● Food poisoning – Models for 

early detection of food-poisoning 

incidents will be developed by 

harnessing social media platforms. 

Mr Andrew Tan, CEO of NEA, 

noted: “We hope the collaboration 

will lead to new systems that can 

help highly compact and dense cities 

like Singapore better manage their 

environmental challenges. Such 

solutions will be relevant not only 

to Singapore, but to other 

cities around the world.” • 

Managing corporate liquidity 

Companies can look to an effective cash management strategy 

for better yields. 

The current global financial 

situation is placing great emphasis 

on companies having an effective 

liquidity management strategy 

in place. 

Many businesses find themselves 

having to review their cash flow 

limits regularly and produce 

realistic projections which will 

safeguard their liquidity in the 

future. For many small firms, cash 

means the difference between 

operations and liquidation. 

Fundsupermart (FSM), an online 

unit trust distribution arm of iFAST 

Financial Pte Ltd, is looking to help 

SMEs and business owners optimise 

their cash yield with a Corporate 

Cash Management Strategy used by 

multinational corporations. 

Currently, SMEs and business 

owners have few cash management 

vehicles beyond fixed deposit 

accounts or savings accounts. Cash 

in these vehicles have yielded low 

rates of return – annualised returns 

from 2000 to 2011 stand at 1% for 

fixed deposits and 0.4% for savings 

deposits (sources: MAS and iFAST 

compilations). 

According to FSM, its Corporate 

Cash Management Strategies are 

safer and tax-free, and have proven 

to improve cash yield without 

compromising on the liquidity 

needs of SMEs and business owners. 

By using FSM Fixed Deposit 

Alternative Portfolios, cash yield 

is improved dramatically at 

manageable risk. Chart 1 shows 

the annualised return (from 2000 

S$ (millions) 

1.4 

1.3 

1.2 

1.1 

Fundsupermart 

is the online unit trust distribution 

arm of iFAST Financial that aims to 

help SMEs and business owners 

optimise cash yield 

with a Corporate 

Cash Management Strategy 

to 2011) at 2.3%, while the weakest 

quarter over the 12-year period 

returned -0.87%, which it recovered 

in the subsequent six months 

(source: iFAST compilations). 

The strategy of using low-risk 

funds to enhance assets is used 

by large corporations, including 

Singapore Press Holdings, which 

holds S$259 million in investment 

funds, as disclosed in its annual 

report last year. 

Other corporations who manage 

short-term assets with funds include 

Microsoft and Mastercard. 

This strategy works well for 

many firms, from multinational 

conglomerates to enterprise 

start-ups. By utilising unit trusts, 

companies gain access to the 

expertise of global fund managers 

in a diversified and high-quality 

range of corporate and sovereign 

bonds, and short-term cashequivalent 

instruments. 

As of end-April 2012, iFAST 

Corp Pte Ltd, the parent company 

of FSM, holds S$8 million in 

money market and bond funds. • 

Fixed Deposits (All) 12m Fixed Deposits Savings Deposits 

Source: Fundsupermart 

1.0 

2000 2002 2004 2006 2008 2010 2012 

25 

SPH Library

26 



SBF Reflects 

on a Decade of 

Achievements 

Mr Tony Chew is re-elected as the 

Federation’s chairman at 10 th AGM. 

During SBF’s 10 th Annual 

General Meeting held 

recently, 23 business 

leaders from companies, 

business chambers 

and trade associations 

were appointed as SBF 

council members for 

the 2012-2014 term. 

The meeting, attended 

by representatives of 190 

member companies, saw 

Mr Tony Chew re-elected 

as chairman of SBF for 

a third two-year term. 

Business leaders 

appointed as SBF vicechairmen 

include: 

● Mr Abdul Rohim 

Bin Sarip, President of 

Singapore Malay Chamber 

of Commerce and Industry 

● Mr Teo Siong Seng, 

President of Singapore 

Chinese Chamber of 

Commerce and Industry 

● Mr Rangarajan 

Narayanamohan, 

Chairman of Singapore 

Indian Chamber of 


● Mr Gautam Banerjee, 

Executive Chairman of 

PricewaterhouseCoopers 

WMS 

● Mr Shabbir Hassanbhai, 

Director (Finance and 

Investment) of Indo 

Straits Trading 

● Mr Tang Kin Fei, Group 

President and CEO of 

Sembcorp Industries 

● Dr Robert 

Yap, Chairman 

and CEO of YCH Group 

“The apex chamber 

owes its growth and 

progress over the years 

to the dedication of the 

SBF Council, the Board 

of Trustees and the 

management team, past 

and present,” said Mr Chew. 

“On behalf of the SBF 

Council, I would also like 

to thank our partners, 

trade associations, business 

chambers, government 

agencies and our members 

for their strong support 

and contributions.” 

Wider engagement 

SBF is also gearing to 

become more issuecentric 

to increase 

its engagements with 

member companies. 

The current economic 

uncertainties have made 

it more critical for SBF to 

reach out to its members 

and the wider business 

community to help them 

build their capabilities 

and tap into new business 

opportunities. Some 

66,000 individuals took 

part in over 400 events 

and activities last year. 

Mr Chew said: “Building 

upon its strong foundation, 

the Federation is working 

to be more issue-centric 

in the service of its 

members. We will build 

up our capabilities to 

help our members tackle 

economic restructuring 

in collaboration 

with the unions and 

government agencies. 

“We will also be 

strengthening our 

international linkages to 

secure more benefits for 

Singapore companies. 

Our goal is to be the 

business voice and 

value creator for our 

members,” he added. 

Formation of SMEC 

One of SBF’s key initiatives 

was the formation of the 

SME Committee (SMEC), 

spurred by challenging 

domestic concerns such 

as higher business costs, a 

tight labour market and 

high inflation. Eight of the 

SMEC’s recommendations 

were included in Budget 

2012 in February. 

Emerging markets 

SBFs membership has 

grown from 15,000 to 

18,400. It helped members 

explore emerging markets 

in Asia, Africa, Latin 

America and Central and 

Eastern Europe. It led 19 

business missions to these 

countries and hosted 52 

incoming delegations 

from 51 countries. 

SBF’s fifth regional 

business group, the 

South Asia Business 

Group was set up to 

facilitate members’ 

interests in South Asia. 

Mr Poh Choon Ann, 

Chairman and CEO of Poh 

Tiong Choon Logistics Ltd, 

and Vice-Chairman of 

SBF’s China Business 

Group, commented: “SBF 

has, over the years, 

developed strong 

linkages with overseas 

chambers and government 

agencies, easing the way 

for Singapore firms to 

establish contacts and tap 

into business opportunities 

in emerging markets.” •

28 

Alvinn Lim 



Organisations Honoured 

for Green Practices 

Innovative growth initiatives give companies a competitive edge. 

Seventeen private and 

public-sector organisations 

were recognised recently 

for their innovative 

sustainable business 

practices at the Singapore 

Sustainability Awards 

2012 – an initiative of 

the Singapore Business 

Federation (SBF). 

Divided into two 

categories – Sustainable 

Business Awards (SBA) 

and Green Technology 

Awards (GTA) – this year’s 

event saw Sembcorp 

Marine Ltd attain the Top 

Honour in the SBA Large 

Enterprise category, while 

Qian Hu Corporation 

was placed similarly in 

the Small and Medium 

Enterprise (SME) category. 

For the GTA, the 

Housing & Development 

Board and TP Vision 

Singapore achieved the 

Top Honour in the Large 

Enterprise segment, 

with Cyclect Energy 

taking similar honours 

in the SME category. 

At the event, Mr S. 

Iswaran, Minister, Prime 

Minister’s Office and 

Second Minister for Home 

Affairs and Trade and 

Industry, praised these 

Representatives from SBF, NUS and SSTEC presenting the SBF-NUS 

Sustainability Case Studies Handbook to Minister S. Iswaran (with red tie). 

firms for their sustainable 

business practices, proenvironment 

operations, 

performance-management 

systems, corporate 

responsibility, innovation 

and green-technology 

implementation. 

One key factor driving 

this change in corporate 

practices is the rise of 

the environmentally 

and socially conscious 

consumer. 

SBF CEO Ho Meng 

Kit said: “This is reflective 

of the changing times. 

Organisations can no 

longer forge ahead with 

a sole focus on their 

financials. Environmental 

sustainability and 

corporate responsibility are 

now business imperatives, 

and their role in value 

creation and innovation 

is evident to businesses 

and key stakeholders.” 

Through these 

awards, best practices in 

creating and using green 

technologies can be 

shared with Singapore’s 

business community. 

Mr Ho noted that this 

will help other companies 

learn how to build 

sustainable businesses with 

corporate know-how. 

The winners were 

judged on sustainability 

excellence and innovation 

by an independent panel of 

judges from the Economic 

Development Board, IE 

Singapore, National 

Environment Agency, 

Mr Jake Layes, Head 

of Cleantech Business 

Development APAC, 

Autodesk Hong Kong 

(sponsor of GTA segment) 

Mr Ho Meng Kit, CEO of SBF 

“This is 

reflective of the 

changing times. 

Environmental 

sustainability 

and corporate 

responsibility 

are now 

business 

imperatives, 

and their role in 

value creation 

and innovation 

is evident to 

businesses and 

stakeholders.” 

National University 

of Singapore, SPRING 

Singapore, Institute 

of Technical Education, 

KPMG and Frost & Sullivan. 

Winners will be eligible 

to represent Singapore 

at the International 

Cleantech Network (ICN) 

Asia Convention, organised 

as part of the inaugural 

ICN Managers’ Meeting 

in Singapore to coincide 

with the Asia-Pacific 

Sustainability Leadership 

Forum in October this year. 

SBF is also embarking 

on a series of sustainability 

diagnostic workshops 

to enable companies 

to benchmark their 

sustainability efforts 

with other firms. •

29 

Winners of 

Sustainable Business 

Awards 

Large Enterprise 

TOP HONOUR 

Sembcorp Marine 

Sustainable Business Awards 

ACHIEVEMENT OF 

EXCELLENCE 

Asia Pacific Breweries 

Singapore 

Coca-Cola Singapore 

Keppel DHCS 

ST Kinetics 

Shell Eastern Petroleum 

Small and Medium 

Enterprise 

TOP HONOUR 

Qian Hu 


EXCELLENCE 

Aik Moh Paints 

& Chemicals 

Feinmetall Singapore 

LHT Holdings 

Winners of 

Green Technology 

Awards 

Large Enterprise 

TOP HONOUR 


Board 

TP Vision Singapore 


EXCELLENCE 

Grand Hyatt Singapore 

Small and Medium 

Enterprise 

TOP HONOUR 

Cyclect Energy 


EXCELLENCE 

Atlantis Resources 

Green Koncepts 

Treetops Executive 

Residences 

SAVING ENERGY 

TODAY 

ST Kinetics, a winner of 

the Sustainable Business 

Awards, switched to using 

energy-saving devices and 

induction lighting as part 

of its commitment to grow 

its green business model. 

It also streamlined its 

operations and optimised 

its manufacturing 

processes, thus reducing 

its energy usage by 

almost one-third. 

“We are delighted by 

this recognition and will 

increase our commitment 

to achieve sustainable 

growth through smart 

engineering, while making 

a positive impact on our 

environment through the 

responsible use of our 

natural resources. We 

will also contribute to 

our communities through 

our corporate social 

responsibility activities,” 

said Mr Sew Chee Jhuen, 

President of ST Kinetics. 

POSITIVE THINKING 

Coca-Cola Singapore, a 

winner of the Sustainable 

Business Awards, is 

constantly working 

towards a vision of zero 

waste. The company’s 

Winners of Sustainable Business 

Awards with Minister S. Iswaran 

(middle) and SBF CEO 

Ho Meng Kit (fifth from right) 

foundation lies in a 

system-wide sustainability 

framework called Live 

Positively, which is 

embedded in its entire 

business and is an 

integral component 

of its 2020 vision. 

“With Live Positively, 

we’ve sharpened our focus 

and put our energy and 

efforts in the areas where 

we have the greatest 

opportunity to create 

shared value for the 

communities we serve and 

our company – areas such 

as recycling, water and 

active healthy living,” said 

Mr Amit Oberoi, CEO of 

Coca-Cola. 

“We’re also making 

sustainability a more 

integral part of our 

business-planning process. 

People today are no longer 

choosing a brand based 

solely on the quality of its 

products, but by the way 

the company behaves.” 

POWERING NEEDS 

Shell Eastern Petroleum 

uses its award-winning 

proprietary’s Only 

MEG Advantage 

(OMEGA) process at its 

monoethylene glycol 

(MEG) plant on Jurong 

Island. This process 

consumes less steam 

and produces less waste 

water. The firm is a 


Business Awards. 

“Shell is honoured to 

be recognised for our 

sustainable development 

efforts. Sustainable 

development is integral in 

the way we do business 

– from balancing shortand 

long-term interests 

to integrating economic, 

environmental and social 

considerations into the 

business decisions we 

make” said Dr Huck Poh, 

Shell’s Manufacturing 

Director and General 

Manager of Pulau Bukom 

Manufacturing Site. 

GREEN NAVIGATION 

Sembcorp Marine has 

received the Top Honour 

in the Large Enterprise 

category at the Sustainable 

Business Awards. One of 

its long-term sustainable 

projects is a 206ha 

integrated yard located 

p.30 

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30 


Getty Images 

in Tuas, with energyefficient 

features as well 

as optimised docking 

and berthing facilities. 

The company is looking 

into ways to design energyefficient 

systems and a 

wave energy converter 

to provide an alternative 

power source for its 

lighting at the piers. 

“Beyond upgrading our 

capabilities and growing 

our business, we balance 

business objectives 

with the needs of our 

people, communities 

and the environment by 

integrating sustainability 

and corporate social 

responsibility into all 

aspects of our operations,” 

said Mr Wong Weng Sun, 

President and CEO of 

Sembcorp Marine. 

FOCUS ON THE 

COMMUNITY 

Asia Pacific Breweries 

Singapore (APBS), a 



focusing on minimising 

the impact its business 

has on the environment. 

The firm has been 

proactive in ensuring that 

it practises the policy 

of reducing, reusing and 

recycling. It has reduced 

its thermal energy 

consumption by 24%. Its 

electricity consumption 

is down by 12% and its 

water usage has decreased 

by 14%. 

“We are proud to have 

made great progress in 

reducing water, thermal 

energy and electricity 

consumption in the 

past five years, and 

have set ourselves a 

target of reducing our 

environmental impact by 

a further 20% 

in the next 

three years,” 

said Mr Michael 

Chin, General 

Manager of APBS. 

TESTING GROUND 

Feinmetall Singapore, a 



a regional one-stop 

design, manufacturing, 

test and service centre 

for wafer probe cards. 

“Feinmetall Singapore 

believes sustainability 

is an art of balancing. 

While we develop unique 

strategies to grow our 

business with reasonable 

profits, balancing this 

goal with limited people 

resources and our planet 

is another passionate 

fulfilment,” said Mr Sam 

Chee Wah, the company’s 

General Manager. 

KEEPING COOL 

Keppel DHCS has a longstanding 

commitment to 

high-quality environmental, 

social, ethical and 

governance standards. 

Singapore’s first and 

largest district cooling 

systems developer and 

service provider is a 


Business Awards. 

“We are honoured to 

receive the award as it 

acknowledges our drive to 

incorporate sustainability 

principles in all aspects 

of our business,” said 

Mr Joseph Ng, CEO of 

Keppel DHCS. 

“We aim to create 

lasting benefits for 

our stakeholders by 

delivering district heating 

and cooling solutions 

that conserve 

energy and protect the 

environment. The award 

is an encouragement to 

us in our journey towards 

sustainability.” 

REUSING WATER 

Qian Hu received the 

Sustainable Business 

Award this year, taking 

home the Top Honour 

in the SME category. 

The company was 

an early adopter of 

both environmental 

management and 

operational standards. 

Over 90% of the 

company’s water 

consumption comes 

from in-house rainwater 

catchment areas. 

GREEN RESOURCES 

As a chemical distributor, 

Aik Moh Paints & 

Chemicals takes pride in its 

sustainable initiatives that 

preserve the environment. 

The firm introduces and 

promotes greener and less 

harmful chemicals and puts 

in extra effort to recycle 

packaging, reuse waste 

chemicals and properly 

dispose them. Aik Moh 

received the Sustainable 

Business Award in the 

SME category. 

“Due to the nature of our 

chemicals business, we 

know that we are at times 

part of the problem. The 

company will continue to 

work towards being part 

of the solution and take 

pride in the sustainable 

initiatives that it has,” 

said Mr Tan Kah Moh, 

Chairman of Aik Moh 

Paints & Chemicals. 

RESOURCE 

CONSERVATION 

LHT Holdings, a winner 

of the Sustainable 

Business Awards in the 

SME category, set up 

Singapore’s first wastewood 

recycling plant 

equipped with a highly 

automated system from 

Germany to produce 

“new wood” or 

technical wood. 

“We have developed a 

complete solution in 

waste-wood recycling 

management and zerowaste 

management. 

This enhances real cost 

savings through waste 

and energy reduction, and 

generates new revenue 

for the company, aiding 

it in its journey towards 

long-term business 

sustainability,” said Ms 

May Yap, Executive 

Director of LHT. •

32 



Green Technology Awards 

We persevered because 

we believe it is the key 

to a sustainable future,” 

Cyclect CEO Melvin Tan 

noted. “Hence, this award 

recognises Cyclect’s 

efforts and encourages us 

to strive towards greater 

excellence in making this 

world a better place.” 

LOOKING INTO 

THE FUTURE 

TP Vision Singapore 

believes sustainable 

development means paying 

attention to green issues, 

such as health and safety 

culture, energy efficiency, 

recycling and hazardous 

material reduction. The 

company achieved the 


Enterprise segment of the 

Green Technology Awards. 

“This award is in 

recognition of TP 

Vision’s progress in our 

strategic priorities. These 

include achieving targets 

of energy efficiency, 

reduction of hazardous 

material and usage of 

recycled material and slim 

packaging in our products, 

coupled with our suppliers’ 

support in environmental 

consciousness,” said the 

company’s Managing 

Director Wong Lup Wai. 

ECO-FRIENDLY 

HOUSING 

At this year’s Singapore 

Sustainability Awards, the 


Board (HDB) received the 


Enterprise segment for the 

Green Technology Awards. 

Its buildings are designed 

Recipients of Green Technology 

Awards with Minister S. Iswaran 

(fourth from left) and SBF 

CEO Ho Meng Kit (middle) 

to embrace local tropical 

climate conditions, 

utilising passive design 

strategies to achieve 

effective energy, water 

and waste management. 

“As a responsible master 

planner and the largest 

housing developer in 

Singapore, HDB plays 

a key role in helping 

Singapore develop in a 

sustainable manner,” said 

HDB CEO Dr Cheong 

Koon Hean. 

“Over the years, HDB 

has been pursuing 

green initiatives and 

sustainable solutions for 

our towns and estates. 

These initiatives will 

contribute to Singapore’s 

aspiration to become 

an urban solutions hub, 

where many of our urban 

solutions could benefit 

other cities with similar 

high-density, high-rise 

environments.” 

HOLISTIC BUSINESS 

Grand Hyatt Singapore, 

winner of the Green 

Technology Award in 

the Large Enterprise 

category, has adopted 

a focused and cohesive 

approach to improving 

its energy and resource 

management through its 

corporate responsibility 

arm – Hyatt Thrive. 

RENEWABLE POWER 

Atlantis Resources won the 

Green Technology Award 

in the SME category. Over 

the past five years, the 

company has invested in 

tidal power generation 

through engineering rigour 

and the application of 

sustainable practices. 

RECYCLE WASTE HEAT 

Cyclect Energy has a string 

of green technologies 

under its belt to optimise 

energy use and recover 

waste heat. This includes 

absorption chillers, 

micro-turbines, vacuum 

boilers, cooling micro-grids, 

heat-driven dehumidifiers 

and cogeneration and 

tri-generation plants. 

Cyclect took home 

the Top Honour in 

the SME category. 

“It was challenging to 

convince end users to 

view waste heat as a 

resource and adopt 

innovative technologies. 

INNOVATIVE 

CONCEPTS 

Green Koncepts is the 

winner of the Green 

Technology Award in 

the SME category. The 

company’s cloud energy 

management platform 

helps buildings and 

businesses manage their 

energy proactively. It uses 

technology to reduce 

the carbon footprint 

for its customers. 

HEALTHY LIVING 

To conserve energy and 

reduce its carbon footprint, 

Treetops Executive 

Residences cuts down on 

its energy spending by 

installing a tri-generation 

plant to supply power 

to its buildings. This 

helped it win the Green 

Technology Award. 

“As a key hospitality 

industry player, we 

understand how much 

resources are consumed 

and, to a certain extent, 

wasted by businesses 

each day due to roundthe-clock 

operations 

and constant upgrading 

practices,” noted the 

company’s General 

Manager Tay Hock 

Soon. “Engaging green 

technology has allowed 

our facilities and resources 

to be more efficiently and 

effectively utilised.” •

33 

Business 

Opportunities 

Russia-Singapore 

Business Forum 

SBF organised the 

seventh edition of 

the Russia-Singapore 

Business Forum (RSBF) 

in September, when 

leading business leaders 

from both countries 

provided insights into 

opportunities in Russia. 

This year, focused sessions 

were conducted to address 

relevant topics, such as 

emerging cities as growth 

drivers, industrial parks as 

models of development, 

and technology as 

collaborative tools. 

RSBF is a business-tobusiness 

platform that 

connects and forges new 

partnerships with business 

leaders from Russia, the 

CIS region and Asia. Since 

2006, RSBF has been 

hosted in Singapore, with 

its key thrusts being to 

connect markets, create 

new opportunities and 

build partnerships. 

Indonesia’s master 

plan for growth 

Indonesia’s Economic 

Affairs Coordinating 

Minister, His Excellency 

Hatta Rajasa, led a 

trade and investment 

mission to Singapore to 

update the local business 

community on emerging 

business and investment 

opportunities in Indonesia. 

He unveiled the Master 

Plan for the Acceleration 

and Expansion of 

Indonesia’s Economic 

Mr Lim Hng Kiang, Minister 

for Trade and Industry 

“Explore 

beyond the 

traditional 

cities to find 

new growth 

markets in 

other parts 

of Indonesia. 

Make full use 

of our strong 

business 

linkages and 

our Singapore 

brand name to 

forge winning 

partnerships 

abroad.” 

Development (MP3EI) at 

the Indonesia-Singapore 

Business Forum organised 

by SBF and attended by 

over 250 participants. 

MP3EI focuses 

on development of 

infrastructure in six 

economic growth corridors 

across the country. It 

aims to make Indonesia 

one of the world’s top 

10 largest economies 

by 2025, taking GDP to 

US$4.5 trillion (S$5.5 

trillion) and increasing 

per capita income. 

Exploring 

opportunities 

in Pyongyang 

SBF, with the support of 

IE Singapore, Singapore 

Manufacturers’ Federation 

(SMa) and Singapore 

Chamber of Commerce 

and Industry in China 

(SingCham), recently 

organised the third 

business mission to 

Pyongyang, Democratic 

People’s Republic of Korea 

(DPRK), and Dandong 

in Liaoning, China. 

The aims of the 

business mission were to 

further explore business 

opportunities in DPRK 

and build goodwill and 

network connections for 

potential development. 

Among the several 

networking opportunities 

were meetings with the 

DPR Korea Chamber of 

Commerce, Ministry of 

Foreign Trade and the 

State Academy of Science. 

In addition, businessmatching 

sessions and 

site visits were organised 

for mission members. 

In Dandong, the 

business mission called on 

Dandong Municipal 

Party Secretary Dai Yulin. 

Mission members met a 

number of representatives 

from Dandong enterprises 

and gained valuable 

insights into doing 

business with DPRK. 

MP3EI 

programme aims to 

make Indonesia 

one of the world’s 

TOP 10 

largest economies by 

2025, increasing 

per capita income from the 

current US$3,000 to 

US$15,000 

Indian and Singapore 

chambers renew ties 

SBF and Federation 

of Indian Chamber of 


(FICCI) have renewed 

a Memorandum of 

Understanding (MOU) 

to further strengthen 

and develop economic 

relations between 

Singapore and India. 

This was signed 

between both chambers’ 

representatives, Mr 

Gautam Banerjee, Vice- 

Chairman of SBF and 

mission leader, and Ms 

Naina Lal Kidwai, Senior 

Vice-President of FICCI. 

The initial MOU, signed 

a decade ago, was the 

first MOU signed by SBF 

with an external partner 

since the apex chamber’s 

inauguration in April 2002. 

The MOU highlights 

the need to strengthen 

cooperation between 

both chambers to 

promote bilateral trade, 

investment opportunities 

and industrial cooperation, 

including the expansion 

of joint ventures 

and technological 

collaborations. •


34 


SPH Library 

Transforming 

Guangzhou 

The Sino-Singapore Guangzhou Knowledge City 

aims to be a catalyst in turning Guangdong’s 

vibrant capital into a knowledge-based economic 

powerhouse. Francis Kan reports. 

China is in the midst 

of transforming 

the structure 

of its massive economy, 

from a largely industrial 

enterprise to one that is 

driven by innovation and 

human capital. The move, 

while hugely disruptive, is 

necessary for the country’s 

future growth prospects. 

Research analysts have 

reported that China lags 

behind more advanced 

economies in the race to 

spur knowledge-based 

growth, but there is an 

advantage to being a 

latecomer to the game 

– the ability to learn 

from the experience of 

those who have made 

the transformation 

successfully. 

That is the 

essence of the 

Sino-Singapore 

Guangzhou 

Knowledge 

City (SSGKC) 

– an ambitious joint 

project by Singapore 

and Guangdong 

province, which 

aims to build a city in 

Guangzhou that will act 

as a centre for the region’s 

economic transition and 

tap on the republic’s 

expertise in fostering 

an environment that 

encourages innovation. 

Co-developed by 

Temasek-linked Singbridge 

and the Guangzhou 

government, the 123 sq km 

green-field project aims to 

attract knowledge-based 

enterprises and global 

talent to locate within an 

ecologically sustainable 

and high-quality living city. 

The aim is to attract 

1,000 firms to 

provide 

THE SSGKC 

VENTURE 

co-developed by Temaseklinked 

Singbridge 

and the Guangzhou 

government, aims to 

ATTRACT 

1,000 firms 

AND PROVIDE 

250,000 jobs 

FOR 

500,000 

RESIDENTS BY 2030 

250,000 jobs for 500,000 

residents when the SSGKC 

project is completed 

by 2030. In the shorter 

term, the city is expected 

to house about 77,000 

people and create 35,000 

jobs by 2018. 

Unlike two earlier joint 

efforts – the Suzhou 

Industrial Park and 

Tianjin Eco-City – by the 

two countries, which 

were government-togovernment 

initiatives, the 

Guangzhou project will be 

driven by the private sector 

but with strong support 

from both governments. 

“We aspire to build a city 

of the future focusing on 

knowledge. In the short 

term, we are working 

on the start-up area, 

which is Phase 1 of the 


City,” said Mr Tay Hun Kiat, 

CEO of Sino-Singapore 


City Investment and 

Development Co Ltd. 

Architecture blueprint 

There are four elements 

– Smart, Eco, Learning and 

Design – at the heart of 

the SSGKC development 

that underscore 

the architecture of 

the city, making it a 

hub for knowledgeintensive 

enterprise 

and an ideal habitat for 

sustainable living. 

One example of 

the project utilising 

Singaporean 

expertise is 

the Three-Year 

Talent Training 

Programme 

that will ride on 

the republic’s 

experience in 

areas such as 

foreign investment 

strategy, social 

security, community 

management and 

fair and transparent 

governance, which can 

contribute to the SSGKC 

and Luogang district. 

p.35

35 

Mr Tay Hun 

Kiat, CEO of 

Sino-Singapore 

Guangzhou 

Knowledge 

City Investment and 

Development Co Ltd 

“China is the 

fastest-growing 

economy. It 

may slow down, 

but it is still a 

choice location 

for investment. 

And 

Guangzhou 

is one of the 

top three 

coastal cities 

in China.” 

INDUSTRIAL 

PLATFORMS 

Positioned as models and 

catalysts for Guangzhou’s 

economic transformation 

and environmental 

enhancement, six industries 

have been identified for 

development. They are: 


information and 

communications 

technology 

Biotechnology and 

pharmaceuticals 

Clean technology 


materials 

Culture and creative 

industries 

Science and education 

services 

The Singapore connection 

There is growing interest 

among Singapore 

companies in the 

upcoming Sino-Singapore 


City (SSGKC). Here 

are some of the local 

entities that have already 

committed to the project. 

Cybrarian Ventures 

Pte Ltd (CVPL) 

A wholly owned company 

of the National Library 

Board has entered into a 

service agreement with 

the Guangzhou Luogang 

district government and 

SSGKC Co. 

Under the agreement, 

CVPL will install a stateof- 

the-art library system 

at the libraries in Luogang 

district. These include 

the Luogang District 

New Regional Library, 


City Centre Library and 


City neighbourhood 

libraries. 

This collaboration 

will focus on master 

planning, enhancement of 

knowledge infrastructure, 

library management and 

operation, capability 

development and training. 

Singapore’s experience in 

library management will 

be harnessed to support 

the needs of knowledgeintensive 

industries and 

workers in Guangzhou 

Knowledge City. 

Nanyang 

Technological 

University (NTU) 

The university has signed 

a service agreement 

with Sino-Singapore 


City’s Administrative 

Committee (KCAC) and 

SSGKC Co to establish 

an office in the city to 

expand its educational 

network to South China. 

Over the longer term, 

NTU will explore the 

areas of innovation and 

research with KCAC, 

with the primary focus 

on education-related 

activities. 

NTU’s participation 

will bring into the 

project the university’s 

high quality of teaching, 

combined East-West 

curriculum and intensive 

network with the world’s 

top universities and 

education institutes. 

Singapore 

Technologies 

Electronics Ltd 

(ST Electronics) 

China United Network 

Communications 

Group Co Ltd 

(China Unicom) 

and ST Electronics 

plan to construct 

the Guangzhou 

Knowledge City 

Internet Data Centre, 

and cloud computing and 

smart-city platforms. 

Cubix International 

SSGKC Co plans to 

cooperate with Cubix 

in developing a multifunctional 

culture and 

creative hub, which will 

be a film academy and 

one-stop film-media hub 

engaged in animation, 

visual effects, film and TV 

production, among other 

core areas of film and 

media. Cubix International 

will introduce quality 

companies from their 

networks to the hub. 

IE Singapore and 

Singbridge International 

will also provide 

additional assistance to 

organisations interested 

in establishing a foothold 

in South China while 

leveraging on SSGKC. 

Getty Images

36 



Getty Images 

UPCOMING 

PROJECTS 

1 

ENERGY-EFFICIENT 

HOSPITAL BY GERMAN 

INDUSTRIAL GIANT 

SIEMENS 

2 

A MOVIE PRODUCTION 

STUDIO AND 

TRAINING CENTRE 

BY NEW ZEALAND’S 

HUHU STUDIOS 

A starting point 

A total of 21 projects are 

already in progress to 

develop the SSGKC site, 

which is about one-fifth 

the size of Singapore. 

It has already attracted 

institutions like Nanyang 

Technological University, 

which set up an innovation 

base to facilitate 

technology start-ups, 

and Ascendas, which will 

develop a world-class 

business park to house 

these new enterprises 

and entrepreneurs. 

The 30ha Ascendas 

OneHub GKC will be 

developed in phases over 

10 years at a total cost of 

RMB 2.3 billion (S$0.45 

billion). It comprises 

business space across 

the spectrum of multitenanted, 

construct-tosell 

and built-to-suit, as 

well as residential and 

lifestyle amenities. 

The project is modelled 

after Ascendas’ successful 

flagships, such as the 

Singapore Science Park 

and International Tech 

Park Bangalore. 

“We intend to attract 

companies involved in 

knowledge-based 

industries, such as 

software development, 

R&D and other high 

value-added activities, 

to this new integrated 

community,” said Ms 

Chong Siak Ching, 

Ascendas President 

and CEO, at the 

groundbreaking 

ceremony in 

March this year. 

Growing interest 

In June, 10 agreements 

and memoranda of 

understanding were signed 

in Singapore by companies 

which have committed 

to invest in SSGKC. 

Projects slated for 

the business park being 

developed by Ascendas 

include an energyefficient 

hospital by 

German industrial giant 

Siemens, and a movie 

production studio and 

training centre by New 

Zealand’s Huhu Studios. 

Some of the Singapore 

entities involved include 

Cybrarian Ventures Pte 

Ltd, a wholly owned 

company of the National 

Library Board, and 

Singapore Technologies 

Electronics Ltd. 

“The pipeline of 

companies looking at 

investment opportunities 

in GKC is fairly 

healthy,” said Mr Tay. 

“China is the fastestgrowing 

economy. It 

may slow down, but it 

is still a choice location 

for investment. And 

Guangzhou is one of 

the top three coastal 

cities in China.” 

A 2011 mission to 

Guangdong led by the 

Singapore Business 

Federation, together with 

ZHAOQING 

JIANGMEN 

FOSHAN 

● The Sino-Singapore 


City (SSGKC) is located 

in the northeast of 

Guangzhou city. It sits 

35km or a half-hour drive 

from the Guangzhou 

city centre and 25km 

from Guangzhou Baiyun 

International Airport. 

● SSGKC is strategically 

located in the heart 

of the economically 

vibrant Pearl River Delta 

and is well served by a 

network of high-speed rail, 

expressways and subways, 

providing fast and 

convenient access to the 

rest of Pearl River Delta 

and Guangdong province. 

GUANGZHOU 

Baiyun International 

Airport 

Guangzhou 

city centre 

DONGGUAN 

ZHONGSHAN 

ZHUHAI 

MACAU 

SHENZHEN 

HUIZHOU 

HONG KONG 

At the heart of Pearl River Delta 

Singbridge, IE Singapore 

and the Singapore 

Manufacturers’ Federation, 

has helped spur further 

interest in the project. 

Mr Trevor Yaxley, Chief 

Executive of digital media 

firm Huhu Studios, is 

excited about investing 

in GKC because he 

believes the project’s 

eco-friendly focus will 

be a draw for talent. 

“The SSGKC project 

is a wonderful footstep 

● With a total site area of 

123 sq km, half of which 

will be preserved as forest, 

the remaining 60 sq km of 

land in SSGKC is expected 

to be developed in phases 

over the next 15 to 20 

years. 

● The metro, regional 

high-speed rail and 

expressways are being 

constructed to serve the 

site, in tandem with its 

development phasing. 

When fully completed, 

SSGKC is expected to 

house a live-in population 

of more than 500,000. 

It aims to create an 

ideal place to work 

with 250,000 new jobs. 

not only into China, but 

into Asia itself,” he told 

The Business Times in June. 

Exploring 

opportunities 

Government agency IE 

Singapore has helped at 

least 25 companies explore 

business opportunities 

in the SSGKC project 

by providing assistance 

in areas such as market 

knowledge and access 

to financing. •


38 

SME Resources 

Getty Images 

R&D Grant to 

Benefit More 

SMEs 

Food manufacturers 

can now look forward 

to receiving financial 

support to help them 

offset the costs of 

their R&D projects. 

The $10,000 product 

R&D grant comprises the 

Innovation and Capability 

Voucher (ICV) and HPB 

Healthier Choice Symbol 

(HCS) New Product 

Development Grant. This 

grant is made available 

to companies working 

on the early stages of 

product R&D and striving 

to meet nutritional 

standards to qualify for 

HCS certification. 

For larger R&D projects, 

SMEs can tap on SPRING 

Singapore’s Technology 

Innovation Programme, 

which funds up to 

70% of qualifying 

cost. With this 

funding, food 

manufacturers 

can tap on the 

expertise of food 

scientists and turn 

their ideas into 

market realities. 

Funding 

new research 

ICV, formerly known as 

the Innovation Voucher 

Scheme, has expanded the 

scope of the scheme to 

include three new areas 

– productivity, human 

resources development 

and financial management. 

This will allow more 

SMEs to take the first 

step to upgrade their 

capabilities in these key 

areas. In doing so, they can 

better manage costs, raise 

productivity and efficiency, 

and strengthen their 

business operations to 

achieve sustainable growth. 

Companies can apply 

for vouchers valued 

at $5,000 each, to be 

used for diagnostics, 

feasibility studies, process 

upgrading, customised 

training, product or 

services development and 

adoption of quality and 

standards. The voucher 

can be redeemed at more 

SPRING 

HAS SET ASIDE 

$32 million 

TO ASSIST SOME 

1,600 

SMEs ANNUALLY 

than 120 participating 

service providers. 

SPRING has set aside 

$32 million to assist some 

1,600 SMEs annually, or 

6,400 SMEs over four years. 

About 700 SMEs have 

benefited from technology 

services provided by 22 

knowledge institutions, 

including polytechnics 

and research institutes. 

Energy-efficient 

designs 

One such company that 

has made use of this 

scheme is Asia Marine 

Products Pte Ltd. 

The firm approached 

the Marine Offshore 

Technology Centre of 

Innovation at Ngee Ann 

Polytechnic to conduct 

a feasibility study on 

how to improve the 

design of an industrial 

fan blower for use 

at shipyards. 

The collaboration 

resulted in a more 

energy-efficient 

design, which delivers 

20% more air despite 

using a smaller motor. 

The company has since 

successfully applied 

for a grant under the 

Technology Innovation 

Programme to further 

improve the product 

through the use of 

glass-reinforced plastic. 

HOW TO APPLY 

STEP 1 

Approach a participating 

service provider to 

discuss the project before 

making an application. 

Determine which of the 

four capability areas you 

are interested in: 

● Innovation 

● Productivity 

● Human Resources 

Development 

● Financial Management 

STEP 2 

Send in the completed 

application form for 

evaluation. 

Attention: SPRING – 

ICV application 

#20-01 Connexis South, 

1 Fusionopolis Way, 

Singapore 138632 

STEP 3 

All applications will 

be processed within a 

week upon receipt of 

the application form. 

Successful applicants will 

receive a Letter of Offer 

and an ICV voucher from 

SPRING. 

Another company 

which tapped into the 

scheme is Lim Kee Food 

Manufacturing Pte Ltd, 

a leading manufacturer 

of steamed buns. 

With the funding, 

the firm was able to 

collaborate with the Food 

Innovation and Resource 

Centre at Singapore 

Polytechnic. The result 

Wholemeal steamed 

buns with new fillings 

such as pumpkin and 

salted mung bean. • 

More information on ICV 

can be found on SPRING 

Singapore’s website at 

www.spring.gov.sg/icv.


40 

SME Helpdesk 

SPH Library 

New Initiatives 

to Boost Training 

The Workforce 

Development Agency 

(WDA) has announced 

new initiatives to boost 

training opportunities 

for some 140,000 

professionals in the 

creative industries (CI). 

This was announced by 

WDA Chief Executive 

Wong Hong Kuan at the 

recent launch of its first 

online and interactive 

world known as the 

CI Virtual World. 

Since the introduction 

of the CI Singapore 

Workforce Skills 

Productivity@Work 

Looking for information 

on productivity Visit 

Productivity@Work 

(productivity.business.gov. 

sg), which is part of the 

EnterpriseOne website. 

One self-help tool found 

on this website is the 

Integrated Management 

of Productivity Activities 

(IMPACT) assessment 

to help organisations 

diagnose their 

productivity gaps. More 

than 1,000 users have 

benefited. 

Qualifications (WSQ) 

Framework in 2007, more 

than 4,000 professionals 

have upgraded their 

skills. Of this, more 

than 3,000 professionals 

underwent WSQ training 

in the past two years. 

WDA has also rolled 

out various new 

programmes, such as 

WSQ Diploma in Creative 

Entrepreneurship and 

WSQ Diploma in Arts 

Management, which aim 

to equip professionals 

with skills such as project 

management, finance 

and marketing, and 

intellectual property 

law to complement the 

respective specialisations. 

In addition, WDA 

has also extended the 

availability of such 

training programmes 

to freelancers through 

the Creative Industries 

Freelancers Enhanced 

Support for WSQ Courses 

(CI FRESCO). Eligible 

freelancers can benefit 

from funding of up to 

90% for course fees. 

This course will 

benefit approximately 

2,700 freelancers over 

the three years. • 

Workshops 

for SMEs 

Drafting and Negotiating 

Commercial Contracts 

Oct 31 

SBF Seminar Room 

Member: $321 

Non-member: $428 

Participants will 

understand the elements 

of drafting an enforceable 

commercial contract and 

the legal issues arising 

from contractual clauses. 

Business Continuity 

Management (BCM) 

Manager Course 

Nov 5-6 


Member: $856 

Non-member: $1,284 

This course is ideal for 

newly appointed BCM 

project leaders and 

department coordinators, 

whose organisations 

are developing and 

implementing their BCM 

programmes. 

Workshop on Retirement 

and Re-employment Act 

Nov 16 


Member: $192.60 

Non-member: $299.60 

The seminar will focus 

on new developments 

and how this act affects 

employers and their 

obligations. 

Enterprise Risk 

Champions: Designing, 

Integrating and Sustaining 

Winning Strategies 

Nov 26-29 


Member: $2,880 

Non-member: $3,200 

This workshop provides 

a framework and 

roadmap on enterprisewide 

risk management. 

Offshore South East 

Asia (OSEA) 2012 

Nov 27-30 

Marina Bay Sands 

This is Asia’s most 

important business 

technology event for the 

oil and gas industry which 

gathers key companies 

from around the globe. 

www.osea2012.com 

Asia TV Forum & Market 

Dec 4-7 

Marina Bay Sands 

This event is Asia’s 

premium content market 

to buy, sell, finance, 

distribute and co-produce 

across all entertainment 

platforms. 

www.asiatvforum.com 

Tank Storage Asia 

Dec 11-12 

Singapore Expo 

This event provides an 

opportunity for terminal 

operators, traders, 

regulators and equipment 

suppliers to come 

together to network and 

do business. 

www.tankstorageasia.com 

LETTERS FROM 

OUR READERS 

If you have any views, 

comments or suggestions 

about BiZQ or other SBF 

events, we want to hear 

from you. Please send 

your contributions to: 

The Editor, 

BiZQ Magazine 

Singapore Business 

Federation 

10 Hoe Chiang Road, 

#22-01 Keppel Towers, 

Singapore 089315 

Or e-mail us at 

corpcomm@sbf.org.sg.

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