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

commendable for any start up business and I would like to congratulate andcommend the management and staff of SOM for working well as a team andturning out such good results. In terms of sales, SOM’s 2006 revenue increasedto $5.5m from $3.1 million in 2005. This represents a revenue growth rate of77.4%. In terms of profitability, the net profit for 2006 was $289,000 compared toa net loss of $98,000 in year 2005.Last year, SOM partnered with prestigious foreign universities and institutions tolaunch eight new courses in Finance, Wealth Management, SecurityManagement, Mass Communications, Logistics, Accounting and Psychology tomeet the growing demand for high quality academic courses. To date, SOMoffers a total of 42 different programmes consisting of 1 doctoral, 9 masters, 12bachelors and 20 professional or advanced diploma and certificate programmes.SOM also partnered with the Chartered Institute of Marketing in UK to offerPostgraduate Diploma in Marketing and other certificate courses for businessmarketing.SOM is moving to become a Global Educational Institute as it launches a studentrecruitment exercise across Asia. SOM participated in several educational fairs inMyanmar, Vietnam, China, Indonesia and South Korea to recruit internationalstudents. You may ask why are SMa & SOM going regional? The short answeris with our partnership with the government we are expected to go regional tomarket and bring into Singapore students for the OHS courses that we will be4