YSA Annual Report 2018
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
ANNUAL
REPORT
2018
Our Mission
Fulfilling Aspirations…
YSA
ANNUAL REPORT
2018
3
Contents
Mission 4
President’s Message 5
The Year in Review 7
Panel of Advisors 9
Executive Committee 10
Report of the Executive Committee 11
Leadership Transition 12
- A Time of Change at YSA 14
Community Service 15
- Certificate Presentation Ceremony for Project Khwaish XVII 16
- An Outing with Senior Citizens 19
Conferences & Seminars 21
- Ninth Khwaish Lecture 22
Intellectual & Professional Development 24
- Sikh Graduate Tea Reception 2018 25
Sports 27
- YSA ‘Racial Harmony’4-A-Side Football Tournament 2018 28
Financial Report 31
YSA
ANNUAL REPORT
2018
4
MISSION
YSA reaches out to young Singaporeans with the aims of understanding
appreciating and fulfilling their aspirations. It supports the development of
the youth sector in Singapore by enabling youth to realise their aspirations
and make valuable contributions to the broader society. Additionally, YSA
seeks to enhance mutual understanding on issues of common concern
and foster friendships across ethnic groups in Singapore, the region and
the world.
Fulfilling Aspirations…
YSA
ANNUAL REPORT
2018
5
PRESIDENT’S MESSAGE
Mr Sarabjeet Singh
YSA’s mission is to fulfill the aspirations of young Singaporeans. This is a deceptively simple way to
articulate an increasingly complex, and at times what seems like a mammoth task we are committed
to. I reflect on this with humility and immense gratitude for the support that YSA has received as we
went about our work the past year.
We sometimes may not realise and fully appreciate how diverse and heterogeneous the “youth”
category is. Within this diversity, youth in fact have different, even multiple aspirations, and rightly so!
Our work in the past year especially made us aware of how YSA must continue to evolve to better
engage and provide youth with platforms and opportunities that get them some steps closer to
realising their aspirations.
YSA is one institution in the proverbial village which works to meaningfully engage and nurture
youth. The common purpose and alignment of our objectives with those of partner organisations
in the youth sector enabled us to accomplish much the past year. To this end, we have quite
deliberately sought new partners, and developed even deeper relationships with existing partners.
One example was the Khwaish Lecture series. This used to be an effort YSA undertook mainly on its
own in the past. Increasingly though, we have realized that the inputs from partner organisations,
with some helmed entirely by youth such as the University Sikh Societies and the SINDA Youth Club
to name a few, have resulted in some significant deviations from how we operated in the past. For
instance, these lecture series of course continue to be about serious issues that affect our nation
and society. However, this does not mean that youth cannot engage with these issues in more lively
and dynamic ways, and in settings that make them feel more comfortable and are also fun. Such
partnerships therefore are not only about seeking and providing new opportunities and platforms,
but crucially they are also about relooking and refreshing our existing ones.
YSA
ANNUAL REPORT
2018
6
This brings me to what we observe as an earnest and sincere desire by various organisations and
institutions to engage youth. These include organisations and institutions within our Sikh Community
too. By the same token, we also observe that youth who are passionate about issues and causes
increasingly want more autonomy. Is it possible to balance these aims? Going forward, how can
we do so?
In this regard, YSA too finds itself in a position where we can appreciate this desire for greater
autonomy. We empathise with the youth who request the same. At the same time, we find youth
also giving us feedback that they are not satisfied with simply participating at our platforms. They
want to lead and drive them. Our experience has shown this is possible and in fact should be
encouraged. It is how we value-add to our suite of youth platforms. This particularly resonates with
me given my personal experience as a youth volunteer with YSA as I was given the resources and
importantly the trust to lead projects I had a deep interest in.
We move forward and look to 2019 with hope that more youth will feel they are given the trust and
are empowered to co-construct initiatives which they feel will be of benefit to their peers and the
community. With that, I thank you once again for your support, and hope you enjoy reading YSA’s
annual report for 2018.
YSA
ANNUAL REPORT
2018
7
THE YEAR IN REVIEW
The year 2018 was a significant year for YSA.
YSA welcomed its third President, Mr Sarabjeet
Singh who took over from Mr Malminderjit
Singh. 2018 was also the year where after an
extremely exciting 2017, YSA decided to focus
on its core activities.
We are humbled that together with our
volunteers and partners, we continue to make
an impact and add value to the non-profit
sphere.
Creating a Caring Community
It is important to YSA to create and encourage
a culture of kindness which enriches our value
system and develops individuals of good
character who contribute to the community.
This will create a caring and empathic
community. In order to do this, we at YSA came
up with and supported various programmes
that helped to develop care, compassion and
empathy to others.
One such programme is the Khwaish Expedition
Project. This community service project provides
its participants with the opportunity to serve
internationally. The youth get to experience
an enriching journey of personal growth
while immersing themselves in a new cultural
experience. In December 2017, a group of youth
embarked on the 17th run of this project.
In order to recognize their efforts and to learn
more about their experience, YSA organized
the certificate presentation ceremony at
Singapore Khalsa Association in March 2018.
The participants got to share with the Guest of
Honour, Mr Amrin Amin about the life enhancing
community service they participated in where
they put together a full-fledged library and
made improvements to the school.
Another effort by YSA to create a caring
community where we show kindness and
concern to one another was the outing for
wheelchair-bound seniors from Sree Narayan
Mission. This initiative enabled us to serve
our elders and bond with them through a
community meal at the Central Sikh Temple.
We also got to hear their tales about a younger
Singapore as we explored the Indian Heritage
Centre with them.
These programmes enable us to come together
to create a caring community where we help
one another selflessly.
Encouraging Active Citizenry
YSA recognizes that our youth are our future
and as such we have worked hard to expand
the access to platforms for active citizenry
for our youth. One way in which we have
done this, is to create platforms such as the
Khwaish Lecture for our youth. The Khwaish
Lecture series provides young Singaporeans
with the opportunity to gain greater insights
on relevant issues while allowing them to
engage with leaders from different fields on
the various issues impacting Singapore but
with a global focus.
YSA
ANNUAL REPORT
2018
8
In July 2018, YSA held its Ninth Khwaish Lecture
with Mr Bilahari Kausikan as the guest speaker.
The session first engaged the participants in
discussions on the subject matter at hand and
later allowed the participants to hear from Mr
Kausikan on ‘The Foundation of Singapore’s
Foreign Policy’. It was an enriching session for
the youth who attended.
Recognizing Achievements
It is also important to YSA to recognize the
efforts and achievements of our youth. An
annual event at YSA that does just that is the
Sikh Graduates Tea Reception. The Reception
provides Sikh youth with the opportunity to
network with each other but more crucially,
it recognizes and celebrates the academic
achievements of these youth including those
who have pursued post graduate studies and
continuous learning.
In October 2018, the Sikh Graduates Tea
reception saw over 35 graduates receive their
appreciation plaques from Guest-of-Honour, Mr
Ng Chee Meng.
YSA’s annual racial harmony football
tournament is another. This tournament brings
together individuals from different ethnicities,
age groups and backgrounds. The players,
regardless of race and language, play together
in the field while the side activities outside the
field also sees players building bonds as they
support and cheer each other on.
The 14th Racial Harmony Football Tournament
was held in March 2018 with Guest of Honour,
Mr Louis Ng gracing the event. It is a platform
which not only helps to build bonds in the
community but also promotes a healthy lifestyle
of sports and physical activity.
Looking Ahead
The last one year has been fulfilling. We at YSA
will continue to work hard to reach out to youth
with the aim of understanding, appreciating
and fulfilling their aspirations. We also strive
to bring to you more exciting initiatives and
programmes to benefit our youth and society.
With your continuous support, we can make a
difference!
Building Bonds in the Community
We at YSA also strongly believe in crossing
barriers of race, religion and language in
our programmes. This way our activities and
programmes are inclusive and bring about
various positive benefits in various segments of
the community. The Ninth Khwaish Lecture was
one such programme.
YSA
ANNUAL REPORT
2018
8 YSA ANNUAL REPORT 2017
9
PANEL OF ADVISORS
Dr
Dr Mohamad
Mohamad Maliki
Maliki Osman
Osman
Senior Minister of State,
Ministry of Defence & Ministry of Foreign Affairs
Mayor, South East District
Mr
Mr Davinder
Davinder Singh
Singh
Executive Chairman
Davinder Singh Chambers LLC
Mr
Mr Inderjit
Inderjit Singh
Singh
Founder and Chief Executive Officer,
Infiniti Solutions
Executive Chairman, Tri-Star Electronics
HE
HE Mr
Mr Karan
Karan Singh
Singh Thakral
Thakral
Executive Director, Thakral Group of Companies
Singapore’s Non-Resident Ambassador to Denmark
Professor Tan Tan Tai Yong Tai Yong
President
Yale-NUS College
Ms Mr Malminderjit Amarpreet Kaur Singh
YSA Assistant PresidentTreasurer
ANNUAL REPORT
2018
EXECUTIVE COMMITTEE
10
Ms Harsimar Balveen Kaur
Editor, Khwaish Newsletter
YSA ANNUAL REPORT 2017
MITTEE
EXECUTIVE Mr Malminderjit Mr Malminderjit Singh Singh
Ms Mr Kulwant Rashvinpal Singh Kaur Dhaliwal
COMMITTEE
President President
EXECUTIVE COMMITTEE
Ms Balveen
Ms Mr Sarabjeet Sithara Mr Mr
Ms Mr Malminderjit
Ms
Sarabjeet Malminderjit
Balveen Kaur
Perinder
KaurSingh
Kaur
Doriasamy Singh
Singh
Singh
President
President
President
EXECUTIVE COMMITTEE
EXECUTIVE COMMITTEE
Mr Malminderjit Singh
Mr Kulwant
Ms Mr Rashminder Harjean Ms
Mr Ms
Mr
Kulwant Balveen Singh
Kuldip Balveen Singh
Singh Kaur
President
Ms Balveen
Kaur Singh
Kaur
Kaur
Vice President (Administration)
Ms Balveen Kaur
Mr Sarabjeet
Mr
Mr
Ravinderpal
Malminderjit
Mr Mr Mr
Ms Kulwant
Sarabjeet Kulwant Singh Singh
Sukvinderpal Singh
Singh
Kaur
Assistant
President
Vice
YSA ANNUAL REPORT 2017
President Secretary
(Corporate Relations)
MITTEE
Mr Malminderjit
Mr Rashminder
Ms
Ms
Sukhjeevanth
Balveen Mr Mr
Mr Jeevan Sarabjeet
Rashminder Sarabjeet Malminderjit
Kulwant Singh
Singh Singh
Jeevan Kaur Singh
Singh
Kaur
Singh
Singh Singh
President
Sandhu
Sandhu
Vice
President
President (Community Relations)
Ms Balveen
Mr Ravinderpal
Ms
Mr Kulwant
Amarpreet Mr Mr Ms
Mr Ms Sarabjeet Rashminder
Ravinderpal Rashminder Balveen
Perinder Kaur
Singh Kaur
Kaur Singh
Singh
Amritpal Singh Singh
Kaur
Singh
Assistant
Assistant
Honorary
Assistant
Secretary
Secretary
YSA ANNUAL REPORT 2017
Treasurer Secretary
Mr Kulwant
Ms Sukhjeevanth Sukhjeevanth Kaur
Ms
Mr Sarabjeet
Harsimar Mr
Ms Mr
Mr Ravinderpal Kulwant
Rashminder Kuldip Singh Singh
Ms Ravinderpal Singh
Singh
Kaur Singh
Rasveen Kaur
Kaur
Singh
Singh
Kaur
Assistant Assistant
Secretary
Secretary
Editor, Khwaish Newsletter
MITTEE
Mr Sarabjeet
Ms Amarpreet Ms Ms
Mr Rashminder
Rashvinpal Ms Ms Mr
Mr Ms Sarabjeet
Ravinderpal Sukhjeevanth
Amarpreet Sukhjeevanth
Sukvinderpal Singh
Perinder Kaur Kaur Singh
Singh Kaur
Kaur Kaur
Vithya Subramaniam
Honorary Kaur
Singh
Dhaliwal
Kaur
Assistant
Assistant
Assistant
Secretary
Treasurer Treasurer
Mr Rashminder
Ms Harsimar Ms Ms
Mr Ravinderpal
Sithara Ms Ms Ms Mr
Mr
Rashminder Jeevan Sukhjeevanth
Kuldip Amarpreet
Harsimar Amarpreet
Singh
Kaur Singh Kaur Kaur Singh Sandhu Kaur
Sheena Doriasamy
Singh Gill
Kaur
Treasurer
Assistant Assistant Assistant
Treasurer
Secretary
Treasurer
Editor, Editor, Khwaish Newsletter
Khwaish Newsletter
Mr Ravinderpal
Ms Rashvinpal Mr Ms
Ms
Harjean
Sukhjeevanth
Digital Ms Ms Mr Ravinderpal Amritpal Amarpreet
Mr R Harsimar
Rashvinpal Harsimar
Singh
Kaur
Sukvinderpal Kaur Kaur
Logapreyan
Lead Kaur
Kaur
Kaur Dhaliwal
SinghDhaliwal
Assistant
Kaur
Assistant
Assistant
Secretary
Secretary
Treasurer
Editor, Editor,
Khwaish Newsletter
Khwaish Newsletter
Ms Sukhjeevanth
Ms Sithara Ms Rasveen Kaur
Ms Amarpreet
Committee Ms Ms Mr Jeevan
Mr Nirmal Rashvinpal
Sithara Rashvinpal Sukhjeevanth
Harsimar Rasveen Kaur
Doriasamy Doriasamy Singh Kaur
Member
Singh Kaur
Kaur Sandhu
Kaur Dhaliwal
and Editor,
Dhaliwal
Assistant
Khwaish
Editor, Treasurer
Newsletter
Khwaish Newsletter
Ms Amarpreet Ms Ms Harjean
Ms Harsimar Committee Ms Ms Mr Amritpal Sithara
Harjean Sithara Amarpreet
Rashvinpal Vithya Kaur Subramaniam
Kaur Doriasamy
Alisha Member Kaur Gill
Doriasamy
Kaur Singh
Kaur
Kaur Dhaliwal
Assistant
and Deputy Editor,
Khwaish
Assistant
Treasurer Treasurer
Newsletter
Editor,
Khwaish Newsletter
Ms Harsimar Ms Ms Rashvinpal Ms
Harjean Harsimar
Sithara Sheena Kaur Doriasamy Gill
Harjean Rasveen Kaur
Kaur Kaur
Dhaliwal
Editor,
Editor,
Khwaish Khwaish Newsletter Newsletter
9
9
9
Mr Malminderjit Singh
Mr President
Ms Sarabjeet Sheena Perinder Gill Kaur Singh
YSA
YSA ANNUAL ANNUAL REPORT REPORT 2017 20179
Ms Balveen Kaur
Mr
Rashminder R Kuldip Logapreyan Singh Singh
YSA ANNUAL REPORT 2017
YSA ANNUAL REPORT 2017
9
EXECUTIVE
COMMITTEE 9
Mr Ms Kulwant Perinder Ms Perinder Singh Kaur Kaur
Mr
Ms
Ravinderpal Nirmal Sukvinderpal YSA Singh
ANNUAL Singh Kaur REPORT 2017
Assistant
Secretary
Mr Sarabjeet Kuldip
Ms
Ms Mr Jeevan Sukhjeevanth Ms
Mr Ms Kuldip Perinder Singh Singh
Perinder Kaur
Singh Kaur
Sandhu Kaur
Ms
Alisha
Gill
YSA ANNUAL REPORT 2017 9
Committee Member
Ms Perinder Kaur
Mr Ms Rashminder Sukvinderpal
Ms Mr Amarpreet Mr
Ms Mr Kuldip Kuldip
Sukvinderpal Singh Kaur
Singh
Kaur
Kaur
Assistant
YSA ANNUAL REPORT 2017
Mr Amritpal
YSA Singh ANNUAL REPORT 20179
Treasurer
Committee Member
Mr Kuldip Singh
Mr Ravinderpal Jeevan Ms Rasveen
Perinder Ms
Mr Ms Jeevan Sukvinderpal Singh Sukvinderpal Singh Sandhu Kaur
Kaur
Kaur
Sandhu
Ms Assistant Harsimar
Secretary
Kaur
Committee
Editor,
Member
Khwaish Newsletter
Ms Perinder
Ms Mr Amritpal Sukhjeevanth
Ms Mr Kuldip Rashvinpal Vithya Mr Mr Ms
Ms Jeevan
Amritpal Jeevan Perinder
Sukvinderpal Kaur
Singh Singh
Singh
Subramaniam Kaur Singh
Singh Kaur
Kaur
Sandhu
Dhaliwal
Sandhu
Mr Kuldip Singh
Committee Member
Mr Kuldip Mr Jeevan
Ms Amarpreet Rasveen Ms Sithara Sheena
Sukvinderpal Mr
Ms Mr Amritpal Kuldip
Singh Singh Sandhu
Amritpal
Rasveen Kaur Singh Kaur Singh
Doriasamy Gill
Singh
Kaur
Mr
Assistant
Kaur
Nirmal
Treasurer Singh
Committee
Member
Ms Sukvinderpal
Ms Harsimar Vithya
Ms Mr
Mr
R
Jeevan Harjean Ms Ms
Mr Amritpal
Logapreyan
Rasveen
Vithya Rasveen Sukvinderpal
Singh Kaur
Subramaniam
Kaur
Kaur Kaur
Ms
Sharan Singh Kaur
Kaur
Sandhu
Dhaliwal
Committee
Editor,
Khwaish
Member
Newsletter
Mr Jeevan
Ms Rashvinpal Mr
Mr
Nirmal
Amritpal Ms Ms Mr
Ms
Jeevan
Rasveen Vithya
Sheena Vithya
Singh
Gill Subramaniam
Kaur Singh
Kaur Sandhu
Singh
Singh
Subramaniam
Gill Dhaliwal Sandhu
Ms
Sheena
Gill
Committee
Member
Mr Amritpal
Ms Mr R Sithara
Ms
Ms
Alisha
Rasveen Ms Ms Mr
Ms
Logapreyan R Amritpal
Vithya
Sheena
Singh Subramaniam
Sheena Doriasamy Gill Singh
Ms
Sithara
Gill
Kaur
Gill
Doriasamy
Committee
Member
Ms
Ms
Mr Nirmal Harjean
Rasveen
Ms Vithya Mr Mr Ms
Ms Nirmal R Rasveen
Sheena Gill
Logapreyan
Logapreyan
Singh Kaur
Kaur
Singh Kaur
Ms
Sonya
Subramaniam
Gill
Committee
Member
Ms Alisha
Ms Sheena Mr Mr Ms
Mr R
Nirmal Nirmal
Alisha Vithya
Logapreyan
Ms
Ms
Vithya
Vithya
Subramaniam
Subramaniam
Gill Gill Singh
Gill
Singh
Committee
Member
Ms Sheena Ms
Mr Nirmal
Alisha Sheena Gill Singh
Gill Gill
Mr
R Ms
Logapreyan
Alisha Gill
Mr R Mr
Ms Logapreyan R
Alisha
Logapreyan
Gill
Mr
Nirmal
Singh
9
9
REPORT OF THE
EXECUTIVE COMMITTEE
YSA
ANNUAL REPORT
2018
12
LEADERSHIP TRANSITION
YSA
ANNUAL REPORT
2018
13
YSA
ANNUAL REPORT
2018
14
A Time Of
Change
At YSA
In November 2018, YSA witnessed a change
of leadership. Mr Sarabjeet Singh took over as
the third President of YSA, after Mr Malminderjit
Singh stepped down following 6 years of service
as YSA’s president. Prior to serving as YSA’s
president, Mr Malminderjit Singh had been
serving the community through YSA in various
capacities, first as an Executive Committee
member and then as the Vice President.
Similarly, Mr Sarabjeet Singh too is no stranger
to YSA.
Mr Sarabjeet Singh started his journey at YSA
as a volunteer for Project Khwaish in 2006. After
the enriching and eye-opening experience
at Khwaish and appreciating the work that
YSA does, Mr Sarabjeet Singh had the urge
to contribute further to the community and
as such, his first official stint at YSA was as the
editor of this very newsletter. Mr Sarabjeet Singh
became more involved in various community
initiatives. Seeing his passion to serve the
community and striving for its betterment, Mr
Sarabjeet Singh is indeed the best candidate
to step into Mr Malminderjit Singh’s shoes as
the third President of YSA.
Succession planning is of great importance
at YSA. YSA is a key part of the institutional
landscape in the Sikh community and in
the larger society. It has also earned a good
reputation of organizing and delivering a
consistently high level of activities that are
enjoyed by both members of the community
and individuals in the wider society. Therefore,
it is crucial that the next President of YSA is
someone who is able to take on this huge
responsibility as well as take YSA to greater
heights.
Since the beginning of YSA’s history, mechanisms
have been put in place to identify and groom
individuals with leadership potential so as to
ensure that YSA, as an organization, will live up
to its mission of fulfilling the aspirations of young
Singaporeans. The members of the Executive
Committee made a commitment to one
another to always add value to the community,
to do their best and push personal boundaries.
The Executive Committee is also committed to
put the interest of YSA and the community first
and that includes not hanging on to positions
beyond their ability to contribute when serving
as a member of the Executive Committee. With
this commitment, the members of the Executive
Committee will enable YSA to consistently
initiate efforts and deliver high quality activities
for the betterment of the youth in our society.
In addition to this commitment, the leadership
also actively identifies and grooms individuals
with leadership potential as part of the
succession plan at YSA. The leadership then
provides these individuals with opportunities
to take the reign in planning and executing
important activities at YSA. These individuals
are also assigned to key appointments so that
they can understand the responsibilities of that
particular role and recognize the various facets
of YSA so that when the time comes, they will be
ready to assume the mantle of leadership.
YSA
ANNUAL REPORT
2018
15
COMMUNITY SERVICE
YSA
ANNUAL REPORT
2018
16
Certificate
Presentation
Ceremony for
Project Khwaish XVII
Since 2003, YSA has embarked and completed 17 community projects in Punjab. The year 2017
was no different. Twenty young Singaporeans, led by a veteran leader participated in a journey of
selfless and charitable service in aid of underprivileged and needy children in Punjab, India. The
volunteers, made up of multi-racial Singaporeans, spent three weeks in December 2017 as part of
YSA’s Project Khwaish XVII community service at the Government Primary School in Rattoke village
of Sangrur district.
During the project from 8 to 31 December 2017, the expedition team painted the school, set up a
library filled with about 2,500 books and assisted in the renovation of the school’s toilets. The team
also presented gifts, toys, stationery and clothes to all of the students as well as special prizes to the
top three students in each level and prizes to the top male and female student. The team personally
handed out clothes to the villagers and the needy. The team also took time off their busy schedule
to interact with the students and teachers, and participated in games with the students.
In order to recognize the voluntary work of the participants of this round of Project Khwaish, YSA
organized a certificate presentation ceremony. During the ceremony at the Singapore Khalsa
Association on 16 March 2018, the Guest of Honour, Parliamentary Secretary for Health and
Home Affairs, Mr Amrin Amin, stated that, “The expedition team was made up of participants from
YSA
ANNUAL REPORT
2018
17
different ethnic and cultural backgrounds. By
working together, I am sure that your efforts
have impacted the local community in Rattoke
village in a positive and meaningful way. At the
same time, I am certain that it was an enriching
experience for the team members, opening
their eyes to the plight of others and teaching
them the important life lesson of offering a
helping hand to those in need and giving back
to the community.”
In complimenting the Sikh community on
its significant contributions to Singapore. Mr
Amrin stated, “The Sikh community is a vibrant
component of our society and has a long
tradition of serving the larger community, such
as through providing food and shelter at the
gurdwaras (which are Sikh places of worship).
The Sikhs number between 10,000 and 12,000
in Singapore but the community’s contributions
to Singapore have been significant.”
YSA
ANNUAL REPORT
2018
18
Also speaking at the ceremony, one of the
participants, Ms Rajveen Kaur, shared, “if one
was to ask me what I have gained from Project
Khwaish XVII, I would say that it is the value
of teamwork and the 20 other participants
who have become family. I have also learnt
that some of the best things in life – the love
and blessings of an entire village, come at no
additional cost.”
Mr Faraaz Amzar Mohamed Farook, another
participant who also shared his experiences
during the project, was impressed with the
children at the school. He stated, “They displayed energy, youthful curiosity and a never-ending
thirst for life. Somehow, with the absence of modern technology, their minds and bodies appeared
more active. They found joy in the smallest of things. I remember one boy who was elated simply
because I stopped to speak with him and play a simple game with him.”
The project was supported by the Youth Expedition Project (powered by Youth Corps Singapore), the
Lee Foundation, TriStar Electronics, Thakral Group, Labour Tel Management Corporation Pte Ltd, and
individual donors and well-wishers.
An
Outing with
Senior Citizens
YSA
ANNUAL REPORT
2018
19
On 19 May 2018, YSA organized an outing for
wheelchair-bound seniors from Sree Narayan
Mission. The day started with a visit to the Indian
Heritage Centre.
At the Centre, the seniors were given a lesson on
various aspects of Indian culture as a tour guide
brought everyone around the centre to view the
different exhibits. The seniors also got to watch a
short film on the history of movement of Indians
in Singapore. It was heartening to hear some of
the seniors enthusiastically identifying the names
of familiar religious artifacts, streets or structures,
showing the volunteers that this experience was
definitely an interesting trip down memory lane
for them.
Shortly after a mini handicraft session, the team
of volunteers took the seniors to the Central Sikh
Temple. However, they were confronted with
uncooperative weather. The heavy rain paired
with the tough parking situation in Little India
posed quite a challenge for the staff of the Mission
and the team of volunteers. Nevertheless, armed
with ponchos and umbrellas, they proceeded to
ferry the seniors one at a time to the vans.
For most of the seniors, this visit to the Central
Sikh Temple was their first visit to a gurdwara. They
were all smiles as they enjoyed a ‘cheat meal’ –
a cup of sweet bandung (rose syrup with milk)
and cha (tea), along with crispy pakoray (fritters)
at the langar hall (community kitchen). After
the shared meal, the team planned to bring the
seniors to the Darbar Sahib (prayer hall) to seek
YSA
ANNUAL REPORT
2018
20
Guru Ji’s blessings. However, at this point, the team
of volunteers were confronted with yet another
challenge – the temple had a lift breakdown. They
had to think of an alternative way to shuttle the
wheelchair bound seniors to the Darbar Sahib,
which was on the second floor. The kind migrant
workers at the temple approached the volunteers,
offering to assist by physically carrying the seniors,
one at a time and on their wheelchairs, up the flight
of stairs to the Darbar Sahib. The collaborative effort
between the migrant workers and the volunteers
was a success, and the seniors were given the
opportunity to experience a prayer session in the
Darbar Hall.
This outing showed the spirit of sewa (selfless
service). This was observed in everyone that day,
from the volunteers to the migrant workers in the
temple. Even the people the team and the seniors
encountered on the streets earlier in the day
displayed such spirit. When having to reserve a
spot for the van with the seniors to drop them off
at Centre, the team of volunteers had to approach
the many who were attempting to park at the said
spots. These individuals were very understanding
and were willing to find other spots.
This opportunity to volunteer and participate in this
outing served as a reminder to everyone to always
have a positive attitude about sewa and to continue
encouraging others to do the same.
YSA
ANNUAL REPORT
2018
21
CONFERENCES & SEMINARS
YSA
ANNUAL REPORT
2018
22
Ninth Khwaish
Lecture
On ‘The Foundation of
Singapore’s Foreign Policy’
YSA held its Ninth Khwaish Lecture on ‘The
Foundation of Singapore’s Foreign Policy’ on
21 July 2018. The guest speaker was Bilahari
Kausikan, Former Permanent Secretary, Ministry
of Foreign Affairs, Singapore. This event was
attended by more than 150 participants of
various ethnic backgrounds and ages.
During the event, the retired diplomat shared
his experiences and insights into Singapore’s
distinctive features as a new and small state in
a turbulent global and regional environment.
Mr Kausikan began his lecture by explaining
the root of foreign policies and clarifying the
meaning of friendly relations among countries
“The idea of friendship between countries is
very fundamentally different (compared to the
idea of friendships between people). When
a country says we have friendly relations, it
means that our national interests are aligned.
This concept of interest is the most fundamental
concept of all foreign policies and relations”,
he stated.
YSA
ANNUAL REPORT
2018
23
Mr Kausikan added that a country’s
core interests derive from the nature of
its state. “Our (Singapore’s) core interest
is how we choose to organize ourselves
and how we choose to organize
ourselves is under pressure and it has
been under pressure since 10 August
1965.” He opined that the uniqueness of
Singapore is under pressure as identities
continue to evolve, transform and adapt
to changing times. “If we are not vigilant
or aware of our external threats, we can
easily be swayed”, he cautioned.
Mr Kausikan cited China’s perceived attempt to influence Singapore’s identity, arguing that it
does not understand Singapore’s dynamics. “It sees Singapore as a Chinese country because it
(Singapore) happens to have a majority of Chinese as its population”, he explained. Mr Kausikan
also mentioned various ways in which China influences operations and he cautioned Singaporeans
to stay vigilant. “Singapore is a young idea, it is 53 years old and that has gone by in the blink of an
eye. Identities constantly evolve, change and adapt. The basis of our creation is continued success
… but, if Singapore fails as a country, there is no intrinsic value because we are small”, he said.
As part of the event, facilitated group discussions were held before the arrival of Mr Kausikan
in which the participants looked at plausible scenarios that depicted the tensions between
Singapore’s domestic organizing principles and its foreign policies. Many participants said the
discussions enabled them to develop a better understanding of the various challenges and threats
that Singapore may be susceptible to.
Overall, the session was full of valuable conservations.
YSA
ANNUAL REPORT
2018
24
INTELLECTUAL & PROFESSIONAL
DEVELOPMENT
Sikh
Graduate Tea
Reception 2018
YSA
ANNUAL REPORT
2018
25
Every year, YSA, in collaboration with other
community organisations such as the Central
Sikh Gurdwara Board and the Singapore
Khalsa Association, organizes the Graduate Tea
Reception to recognize an important milestone
in the lives of our youth, their graduation. Last
year was no exception. The Sikh Graduate Tea
Reception 2018 was held at the Singapore Khalsa
Association on 13 October 2018.
The event saw over 35 graduates receive their
appreciation plaques from Guest-of-Honour, Mr
Ng Chee Meng, Minister in the Prime Minister’s
Office and Secretary-General of NTUC. Mr Ng,
in his address to the graduates, talked about
the importance of adaptability and seizing the
opportunities in today’s volatile and disruptive
market. He also spoke about how crucial it is for
employees today to possess both technical and
soft skills as in addition to one’s technical expertise,
soft skills like compassion and a strong character
are sought after too.
YSA
ANNUAL REPORT
2018
26
The graduates were also treated to a talk on changing hiring and human resources practices as
companies adjust to disruptions and shifts in the market by guest speaker, Mr Martin Tan, the executive
director of The Majurity Trust. This talk was extremely relevant and welcomed by the graduates as many
were entering the workforce.
However, while it is important for youth to develop themselves and strive for the best in their career, YSA’s
then President, Mr Malminderjit Singh, also stressed that they should not let go of the desire to participate
in community activities.
The Sikh Graduate Tea Reception is an important part of YSA’s agenda. It is
an excellent networking opportunity and a great platform for young Sikhs
to learn from industry experts such as Mr Martin Tan.
YSA
ANNUAL REPORT
2018
27
SPORTS
YSA
ANNUAL REPORT
2018
28
On 24 March 2018, Member of Parliament for Nee
Soon GRC, Louis Ng, donned his football attire
and goal keeping gloves to participate in the YSA
‘Racial Harmony’ 4-A-Side Football tournament at
Kovan Sports Centre. He kicked off the event by
playing in an exhibition match involving players
from different ethnic groups and backgrounds.
Following a number of saves during the match,
Mr Ng commented that, “I double confirm that
I am getting old but not too old yet to enjoy a
good game with enthusiastic players here. It is
heartening to see participants of all races and
ages come together on a weekend afternoon to
sweat it out and make friends.”
The YSA tournament attracted 360 players and
more than 250 supporters and spectators. The
annual tournament aims to promote racial
harmony as it embraces teams consisting
of players from different communities and
backgrounds. It also encourages the players to
get to know one another through the sport as well
YSA
‘Racial Harmony’
4-A-Side Football
Tournament
2018
as the side activities such as the target shooting
and juggling competition, and a quiz on Singapore.
Furthermore, the participants interact and engage
with one another over some food and drinks
during the tea reception. The event is also geared
towards promoting a healthy lifestyle among the
participants across generations as they come to
support their family and friends in the tournament.
During the tournament, side activities were
organized to continually engage the participants
as well as provide mini challenges where they
could walk away with cash prizes. During the target
shooting competition, the players put their aiming
skills to good use by hitting cones placed at varying
heights. The juggling competition required players
to juggle the ball for as long as they could and this
required immense determination and focus.
YSA
ANNUAL REPORT
2018
29
Following more than 100 matches, the event
ended with the highly-anticipated final between
MIB (four time champions) and SG Futsal 16 in the
‘Open’ category. SG Futsal 16 raced to a 2-0 lead
only for MIB to draw level soon after. SG Futsal 16
then added two more goals before MIB emerged
as the ‘Open’ category winners. In the ‘Veterans’
category, Thursday Knights A retained the trophy
for the second year running, while Kardesler Juniors
B emerged victorious in the ‘Youth’ category and
OnzXOnz in the ‘Ladies’ category. In the ‘Juniors’
category, Junior Starz took home the trophy. When
asked if his team would be back again next year,
the captain replied with a confident cheeky grin,
“Definitely”.
Mr S Sivakumar, former national football player,
who was part of Thursday Knights A, stated, “It
is great to be part of this tournament. It is more
of a carnival than a real competition. You meet
old friends and make new ones. The organisers
always make a conscious effort to get different
groups of people to be part of the tournament.”
YSA
ANNUAL REPORT
2018
30
Financial Report
YSA
ANNUAL REPORT
2018
32
YOUNG SIKH ASSOCIATION (SINGAPORE)
(Registered under The Societies Act. Cap. 311)
(Club Registration Number: 61-171590000-K)
ACCOUNTS AND REPORTS
For the financial year ended
31 December 2018
CONTENTS
Page
STATEMENT BY MANAGEMENT COMMITTEE 33
INDEPENDENT AUDITORS’ REPORT 34 - 36
STATEMENT OF FINANCIAL POSITION 37
STATEMENT OF INCOME AND EXPENDITURE 38
STATEMENT OF CHANGES IN FUNDS 39
STATEMENT OF CASH FLOWS 40
NOTES TO THE FINANCIAL STATEMENTS 41 - 46
YSA
ANNUAL REPORT
2018
33
YOUNG SIKH ASSOCIATION (SINGAPORE)
(Registered under The Societies Act. Cap. 311)
STATEMENT BY MANAGEMENT COMMITTEE
In the opinion of the Management Committee, the accompanying statement of financial position,
income and expenditure statement, statement of changes in funds and statement of cash flows
together with the notes to the financial statements, are drawn up so as to give a true and fair view
of the state of affairs of YOUNG SIKH ASSOCIATION (SINGAPORE) as at 31 December 2018 and of the
results, changes in funds and cash flows of the Association for the year then ended on that date.
The Management Committee has approved these financial statements for issue on
On behalf of the Management Committee
MR SARABJEET SINGH
President
MS AMARPREET KAUR
Assistant Treasurer
Singapore
YSA
ANNUAL REPORT
2018
34
INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF
YOUNG SIKH ASSOCIATION (SINGAPORE)
(Registered under The Societies Act. Cap. 311)
Report on the Audit of the Financial Statements
Opinion
We have audited the financial statements of Young Sikh Association (Singapore), which comprise
the statement of financial position as at 31 December 2018, and the statement of income and
expenditure, statement of changes in funds and statement of cash flows for the year then ended,
and notes to the financial statements, including a summary of significant accounting policies.
In our opinion, the accompanying financial statements are properly drawn up in accordance
with the provisions of the Societies Act, Cap. 311 (the Act) and Financial Reporting Standards in
Singapore (FRSs) so as to give a true and fair view of the financial position of the Company as at
31 December 2018 and of the financial performance, changes in equity and cash flows of the
Company for the year ended on that date.
Basis for Opinion
We conducted our audit in accordance with Singapore Standards on Auditing (SSAs). Our
responsibilities under those standards are further described in the Auditor’s Responsibilities for the
Audit of the Financial Statements section of our report. We are independent of the Company in
accordance with the Accounting and Corporate Regulatory Authority (ACRA) Code of Professional
Conduct and Ethics for Public Accountants and Accounting Entities (ACRA Code) together with
the ethical requirements that are relevant to our audit of the financial statements in Singapore, and
we have fulfilled our other ethical responsibilities in accordance with these requirements and the
ACRA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to
provide a basis for our opinion.
Other Information
The management is responsible for the other information. The other information comprises the
Statement by Management Committee (set out on pages 2).
Our opinion on the financial statements does not cover the other information and we do not express
any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other
information and, in doing so, consider whether the other information is materially inconsistent
with the financial statements or our knowledge obtained in the audit, or otherwise appears to be
materially misstated. If, based on the work we had performed, we conclude that there is a material
misstatement of this other information, we are required to report that fact. We have nothing to
report in this regard.
YSA
ANNUAL REPORT
2018
35
INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF
YOUNG SIKH ASSOCIATION (SINGAPORE) (CONT’D)
(Registered under The Societies Act. Cap. 311)
Management Committee’s Responsibilities for the Financial Statements
The Management Committee members are responsible for the preparation of financial statements
that give a true and fair view in accordance with the provisions of the Act and FRSs, and for devising
and maintaining a system of internal accounting controls sufficient to provide a reasonable
assurance that assets are safeguarded against loss from unauthorised use or disposition; and
transactions are properly authorised and that they are recorded as necessary to permit the
preparation of true and fair financial statements and to maintain accountability of assets.
In preparing the financial statements, management is responsible for assessing the Company’s
ability to continue as a going concern, disclosing, as applicable, matters related to going concern
and using the going concern basis of accounting unless management either intends to liquidate
the Company or to cease operations, or has no realistic alternative but to do so.
The Management Committee’s responsibilities include overseeing the Company’s financial
reporting process.
Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a
whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s
report that includes our opinion. Reasonable assurance is a high level of assurance, but is not
a guarantee that an audit conducted in accordance with SSAs will always detect a material
misstatement when it exists. Misstatements can arise from fraud or error and are considered material
if, individually or in the aggregate, they could reasonably be expected to influence the economic
decisions of users taken on the basis of these financial statements.
As part of an audit in accordance with SSAs, we exercise professional judgement and maintain
professional scepticism throughout the audit. We also:
• Identify and assess the risks of material misstatement of the financial statements, whether due to
fraud or error, design and perform audit procedures responsive to those risks, and obtain audit
evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not
detecting a material misstatement resulting from fraud is higher than for one resulting from error,
as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override
of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the Company’s internal control.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by management.
YSA
ANNUAL REPORT
2018
36
INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF
YOUNG SIKH ASSOCIATION (SINGAPORE) (CONT’D)
(Registered under The Societies Act. Cap. 311)
Auditor’s Responsibilities for the Audit of the Financial Statements (Cont’d)
• Conclude on the appropriateness of management’s use of the going concern basis of
accounting and, based on the audit evidence obtained, whether a material uncertainty exists
related to events or conditions that may cast significant doubt on the Company’s ability to
continue as a going concern. If we conclude that a material uncertainty exists, we are required
to draw attention in our auditor’s report to the related disclosures in the financial statements or, if
such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit
evidence obtained up to the date of our auditor’s report. However, future events or conditions
may cause the Company to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the financial statements, including
the disclosures, and whether the financial statements represent the underlying transactions and
events in a manner that achieves fair presentation.
We communicate with the Management Committee regarding, among other matters, the planned
scope and timing of the audit and significant audit findings, including any significant deficiencies
in internal control that we identify during our audit.
Report on Other Legal and Regulatory Requirements
In our opinion, the accounting and other records required by the Act to be kept by the Company
have been properly kept in accordance with the provisions of the Act.
LEE S F & CO
Public Accountants and Chartered Accountants
Singapore,
HWJ/LSF
YSA
ANNUAL REPORT
2018
37
YOUNG SIKH ASSOCIATION (SINGAPORE)
(Registered under The Societies Act. Cap. 311)
STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2018
2018 2017
Note $ $
CURRENT ASSETS
Cash and cash equivalents 3 39,485 48,976
LESS CURRENT LIABILITY
Accruals 4 1,350 1,350
1,350 1,350
Net Current Assets 38,135 47,626
Represented By:
Accumulated Funds 38,135 47,626
The accompanying notes form an integral part of these financial statements
YSA
ANNUAL REPORT
2018
38
YOUNG SIKH ASSOCIATION (SINGAPORE)
(Registered under The Societies Act. Cap. 311)
STATEMENT OF INCOME AND EXPENDITURE
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018
2018 2017
Note $ $
Income / Revenue from Activities
Community service projects 4,020 117,347
Intellectual and professional development activities 15,079 15,600
Other income - 15,000
Sports events 24,535 17,584
Conferences and seminars 895 224
44,529 165,755
Cost of Activities
Community service projects 14,237 66,698
Intellectual and professional development activities 9,890 45,747
Sports events 16,540 16,615
Conferences and seminars - 6,572
40,667 135,632
3,862 30,123
Less: Operating Expenses
Advertisements - 85
Accounting fee 650 650
Auditors’ remuneration 700 700
Bank charges 130 100
General expenses - 1,925
Postage and courier services 1,539 1,682
Printing and stationery 2,642 11,090
Refreshments 920 2,650
Sponsorships and donations 2,400 2,504
Transportation 122 -
Website design and maintenance 4,250 8,750
13,353 30,136
(Deficit) for the financial year before taxation (9,491) (13)
Less: Taxation 5(a) - -
(Deficit) for the financial year after taxation (9,491) (13)
The accompanying notes form an integral part of these financial statements
YSA
ANNUAL REPORT
2018
39
YOUNG SIKH ASSOCIATION (SINGAPORE)
(Registered under The Societies Act. Cap. 311)
STATEMENT OF CHANGES IN THE ACCUMULATED FUNDS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018
Accumulated Surplus /
Funds (Deficit) Total
$ $ $
As at 1 January 2017 13,440 34,199 47,639
(Deficit) for the financial year after taxation - (13) (13)
As at 31 December 2017 13,440 34,186 47,626
(Deficit) for the financial year after taxation - (9,491) (9,491)
As at 31 December 2018 13,440 24,695 38,135
The accompanying notes form an integral part of these financial statements
YSA
ANNUAL REPORT
2018
40
YOUNG SIKH ASSOCIATION (SINGAPORE)
(Registered under The Societies Act. Cap. 311)
STATEMENT OF CASH FLOWS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018
2018 2017
Note $ $
CASH FLOWS FROM OPERATING ACTIVITIES
(Deficit) for the financial year before taxation (9,491) (13)
(Decrease) in trade payables - (3,570)
Increase in accruals - 150
Operating (deficit) before working capital changes (9,491) (3,433)
Tax paid - -
Net cash (used in) operating activities (9,491) (3,433)
NET CHANGE IN CASH AND CASH EQUIVALENTS (9,491) (3,433)
CASH AND CASH EQUIVALENTS AT BEGINNING OF THE FINANCIAL YEAR 48,976 52,409
CASH AND CASH EQUIVALENTS AT END OF THE FINANCIAL YEAR 3 39,485 48,976
The accompanying notes form an integral part of these financial statements
YSA
ANNUAL REPORT
2018
41
YOUNG SIKH ASSOCIATION (SINGAPORE)
(Registered under The Societies Act. Cap. 311)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018
1. MISSION
The mission of the Young Sikh Association (Singapore) is to fulfill the aspirations of young
Singaporeans. It reaches out to young Singaporeans with the aim of understanding and
appreciating their aspirations, and integrating these aspirations into the Singapore society
through enhancing mutual understanding on issues of common concern and fostering
friendships across ethnic groups in Singapore, the region and the world.
These notes form an integral part of and should be read in conjunction with the accompanying
financial statements
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
a) BASIS OF PREPARATION
the financial statements have been prepared in accordance with Singapore Financial
Reporting Standards (“FRS”). These financial statements have been prepared under the
historical cost convention except as disclosed in the accounting policies below.
the preparation of financial statements in conformity with FRS requires management to
exercise its judgement in the process of applying the Company’s accounting policies. It
also requires the use of certain critical accounting estimates and assumptions.
b) FINANCIAL LIABILITIES
Financial liabilities within the scope of FRS 39 are recognised on the statement of financial
position when, and only when, the Company becomes a party to the contractual provisions
of the financial instrument. Financial liabilities are recognised initially at fair value, plus, in
the case of financial liabilities other than derivatives, directly attributable transaction costs.
subsequent to initial recognition, derivatives are measured at fair value. Other financial
liabilities are measured at amortised cost using the effective interest method.
For financial liabilities other than derivatives, gains and losses are recognised in the
statement of comprehensive income when the liabilities are derecognised, and through the
amortisation process. Any gains or losses arising from changes in fair value of derivatives
are recognised in statement of comprehensive income. Net gains or losses on derivatives
include exchange differences.
YSA
ANNUAL REPORT
2018
42
YOUNG SIKH ASSOCIATION (SINGAPORE)
(Registered under The Societies Act. Cap. 311)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018
FINANCIAL LIABILITIES (CONT’D)
A financial liability is derecognised when the obligation under the liability is extinguished.
When an existing financial liability is replaced by another from the same lender on
substantially different terms, or the terms of an existing liability are substantially modified,
such an exchange or modification is treated as a derecognition of the original liability
and the recognition of a new liability, and the difference in the respective carrying
amounts is recognised in the statement of comprehensive income.
c) CASH AND CASH EQUIVALENTS
Cash and cash equivalents comprise of cash in hand and bank balances placed with
creditworthy financial institutions.
d) PROVISIONS
Provisions are recognised when the Company has a present obligation where, as a result
of a past event, it is probable that an outflow of economic benefits will be required to
settle the obligation and the amount of the obligation can be reasonably estimated. Provisions
are reviewed at each balance sheet date and adjusted to reflect the current best
estimate. Where the effect of time value of money is material, the amount of the provision
is the present value of the expenditure expected to be required to settle the obligation.
e) TAXATION
Tax expense is determined on the basis of tax effect accounting, using the liability method,
and it is applied to all significant temporary differences arising between the carrying
amount of assets and liabilities in the financial statements and the corresponding tax
basis used in the composition of taxable profit, except that a debit to the deferred tax
balance is not carried forward unless there is a reasonable expectable of realization and
the potential tax saving relating to a tax loss carry forward and unutilized capital allowances
is not recorded as an asset.
Deferred tax is calculated at the tax rates that are expected to apply to the period when
the assets are realized or the liability is settled. Deferred tax is charged or credited to the
profit and loss account. Deferred tax assets and liabilities are offset when they relate to
income taxed levied by the same tax authority.
YSA
ANNUAL REPORT
2018
43
YOUNG SIKH ASSOCIATION (SINGAPORE)
(Registered under The Societies Act. Cap. 311)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018
f) CURRENCIES TRANSLATION
Functional and presentation currency
Items included in the financial statements of the Company are measured using the currency
of the primary economic environment in which the entity operates (“functional currency”).
The financial statements are presented in Singapore Dollar, which is the Company’s
functional currency.
Transactions and balances
transactions in a currency other than the functional currency (“foreign currency”) are
translated into the functional currency using the exchange rates at the dates of the
transactions. Currency translation differences from the settlement of such transactions and
from the translation of monetary assets and liabilities denominated in foreign currencies
at the closing rates at the date of statement of financial position are recognized in the
statement of comprehensive income.
non-Monetary items measured at fair values in foreign currencies are translated using the
exchange rates at the date when fair values are determined.
g) REVENUE
Revenue is recognised to the extent that it is probable that the economic benefits will flow
to the Association and the revenue can be reliably measured.
Revenue from sports events and donations is recognised in the account on an accrual
basis.
3. CASH AND CASH EQUIVALENTS
For the purpose of statement of cash flows, cash and cash equivalents comprise the following:
2018 2017
$ $
Cash in hand 2,520 2,165
Cash at bank 36,965 46,811
39,485 48,976
The Carrying amounts of cash and cash equivalents are denominated in Singapore Dollars and
they approximate their fair values.
YSA
ANNUAL REPORT
2018
44
YOUNG SIKH ASSOCIATION (SINGAPORE)
(Registered under The Societies Act. Cap. 311)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018
4. ACCRUALS
2018 2017
$ $
Accounting fee 650 650
Audit fee 700 700
1,350 1,350
5. TAXATION
a) Tax expense
2018 2017
$ $
Current year’s tax expense - -
The income tax expense on the results for the financial year varies from the amount of income
tax determined by applying the Singapore standard rate of income tax to (deficit) before
taxation due to the following factors:
2018 2017
$ $
(Deficit) for the financial year before taxation (9,491) (13)
Tax calculated at a tax rate of 17% (2017: 17%) (1,613) (2)
Expenses not deductible for tax purposes 408 463
Unutilised losses carried forward (6,518) (6,979)
Unutilised approved donations carried forward (765) (765)
Deferred tax asset not recognised 8,488 7,283
- -
YSA
ANNUAL REPORT
2018
45
YOUNG SIKH ASSOCIATION (SINGAPORE)
(Registered under The Societies Act. Cap. 311)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018
TAXATION (CONT’D)
2018 2017
$ $
Deferred tax assets not recognized:
Unutilised tax losses 7,723 6,518
Unutilised approved donations 765 765
8,488 7,283
Deferred tax assets arising from unutilised tax losses and unutilised approved donations
have not been recognised as the availability of future taxable profit is still uncertain against
which the company may utilize the benefits.
As at 31 December 2018, the Company has unutilised tax losses and unutilised approved
donations of approximately $45,000; $4,000 (2017: $38,000; $4,000) available for set-off
against future taxable profits subject to the provisions of Sections 37 of the Income Tax Act
and agreement with tax authorities.
b) Movements in provision for taxation for the financial year are as follows:
2018 2017
$ $
Balance at beginning of the financial year - -
Current year’s tax expense - -
Income tax paid - -
Balance at end of the financial year - -
6. FINANCIAL RISKS AND FAIR VALUES
The Association is exposed to financial risks arising in the normal course of association
operations.
a) Liquidity risk
The Association monitors and maintains a level of cash and cash equivalents deemed
adequate by the Management Committee to finance the Association’s operations and
mitigate the effect of fluctuations in cash flow.
YSA
ANNUAL REPORT
2018
46
YOUNG SIKH ASSOCIATION (SINGAPORE)
(Registered under The Societies Act. Cap. 311)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018
FINANCIAL RISKS AND FAIR VALUES (CONT’D)
b) Interest rate risk
The Association is not exposed to interest rate risk as it has no interest-bearing
borrowings.
c) Credit risk
Cash is placed with creditworthy financial institutions. The maximum exposure to credit
risk is represented by the carrying amount of each financial asset in the balance
sheet.
d) Fair values
The fair values of financial assets and financial liabilities approximate the carrying
amounts of those assets and liabilities reported in the balance sheet.
7. OTHER INFORMATION
YOUNG SIKH ASSOCIATION (SINGAPORE) is registered under Societies Act. Cap. 311 with its
registered office at Sikh Centre, 8 Jalan Bukit Merah, Singapore 169543.
8. AUTHORISATION OF FINANCIAL STATEMENTS FOR ISSUE
The financial statements for the financial year ended 31 December 2018 were authorised for
issue by the Management Committee on
YOUNG SIKH ASSOCIATION (SINGAPORE)
FULFILLING ASPIRATIONS…
Young Sikh Association (Singapore) or YSA was established in August 2003 to fulfill the aspirations of young
Singaporeans.
YSA reaches out to young Singaporeans with the aim of understanding and appreciating their aspirations, and
integrating these aspirations into the Singapore society through enhancing mutual understanding on issues
of common concern and fostering friendships across ethnic groups in Singapore, the region and the world.
Objectives
• To enhance understanding of national issues among young Singaporeans and to encourage them to
contribute to the betterment of our society as thoughtful and responsible citizens.
• To provide platforms for young Singaporeans to strive for intellectual and professional development.
• To strengthen inter-racial friendship and harmony by organising and actively participating in intercommunity
activities.
• To foster community spirit among young Singaporeans through community service at home and abroad.
• To build networks with local and international youth groups so as to foster national identity and a global
mindset among young Singaporeans.
Programmes
As a totally independent youth organisation, YSA’s programmes are initiated by young Singaporeans for
young Singaporeans in particular, and Singapore society in general.
From lectures, dialogue sessions, seminars and professional development workshops to bhangra
competitions, cultural shows and sports activities, they choose their avenues of aspiration and integration.
• Conferences and Seminars
• Intellectual and Professional Development
• Community Service
• Culture
• Sports
Membership
• Ordinary Membership: For Sikhs and non-Sikhs from the ages of 16 to 50 years residing in Singapore. They
have the right to vote.
• Associate Membership: For Sikhs and non-Sikhs of all ages residing in Singapore. They are not eligible to
vote.
Young Sikh Association (Singapore)
c/o Sikh Centre
8 Jalan Bukit Merah, Singapore 169543
Tel : (65) 6327 2007/5 Fax : (65) 6327 2009
Email : enquiry@ysas.org Website : www.ysas.org
Young Sikh Association – Singapore @ysa.sg