SMa President's 4th AGM Speech - Singapore Manufacturing ...

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quarter. 2007 GDP growth forecast for the remaining of the year is expected tobe in the range of 5.0-7.0%. We are looking at a good year ahead, for theremainder of 2007.2006: A Year of AchievementsI am pleased to report that SMa has managed to achieve a number of significantmilestones over the past year, amidst a challenging environment.Financially, SMa managed to achieve a revenue of $21m in 2006 compared to$12m in 2005. This represents a revenue growth of 75%. The SMa surplus for2006 was $1,187,000. However SMa decided to be prudent and made aprovision for bad debts of $631,000 in compliance with a change in bad debtspolicy in 2006 thereby reducing the 2006 surplus to $556,000. The 2006 surpluswas therefore $556,000 as compared to $300,000 in 2005 which still representsa healthy growth of 85%. In addition, we have continuously improved productivityyearly in SMa. Our operational efficiency ie our labour cost as a proportion of ourrevenue, has increased as the labour-to-revenue ratio dropped from 28.3% in2005 to 18.8% in 2006.In the area of membership recruitment, we managed to step up our efforts andbrought in 168 new members in 2006. Membership Services Division organised61 events to assist members in their business ventures. Some of these eventsinclude Conferences and Seminars on Public Sector Financing and Assistance2
with various government agencies, Driving Higher Profitability, Creating PowerfulBrands, Electricity Energy Savings, Masters of the Triple Chain etc. wereconducted for the benefit of our members. This works out to running one eventevery 4 working days.On the international front, SMa implemented a few new initiatives. In year 2006,our Industry Development Division organised 24 incoming and 8 outgoingmission trips and participated in 41 local and international trade fairs andexhibitions which included 37 country and industry specific seminars. Theseevents and trips opened up networking and business opportunities for ourmembers in new frontiers like Kazakhstan, Vietnam, Nanning and Guangxi inChina.To further assist members in their market research and investment overseas, theResearch and Corporate Communications Division published eleven countryreports from emerging markets like Vietnam, Indonesia, Panama and Pakistan.These reports were distributed free to all members and they can be downloadedfrom the SMa’s website. These Country Reports receive the highest hit ratesfrom our members and show the popularity of the Country Reports for EmergingMarkets amongst our members.On the home front, I am glad to announce that SMa School of Management(SOM) turned in good profits on its third year of operations which is3
Page 1: Opening Address by Mr Edwin Khew, P
Page 5 and 6: doing with MOM and Workforce Skills
Page 8 and 9: Telecast during primetime, each epi
Page 10 and 11: I would like to take this opportuni
Page 12 and 13: Meanwhile, with the support of Coun

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