ANNUAL REPORT. Term

Transcription

1 ANNUAL REPORT Term This is the first year of the two-year term of SBG Executive Committee. We have made progress in the development of external partnerships to provide additional benefits to our members. We believe these efforts help to establish the Singapore Business Group as a relevant entity to the Singaporean community in Vietnam and to all our members. Jeffery Lee Singapore Business Group Ho Chi Minh City Chapter 14-Sep-17

2 TABLE OF CONTENTS ANNUAL REPORT... 2 I. MEMBERS OF THE EXECUTIVE COMMITTEE... 2 II. MEETINGS OF EXECUTIVE COMMITTEE... 3 III. FUNCTIONS OF EXECUTIVE COMMITTEE... 3 IV. THE SECRETARIAT TEAM... 4 V. SBG SECRETARIAT OFFICE... 5 VI. EVENTS LISTING... 6 VII. EVENTS ATTENDED VIII. SBG ON THE NEWS IX. EVENT SPONSORSHIP AND NATIONAL CORPORATE SPONSORSHIP X. SBG S PARTNERSHIPS XI. SBG EDFUND XII. SBG MEMBERSHIP STATUS XIII. SBG MEMBERS ADDED BENEFITS AND PRIVILEGES XIV. RECORD OF APPRECIATION FINANCIAL REPORT I. SINGAPORE BUSINESS GROUP II. EDUCATION FUND Term : Annual Report & Financial Report Page 1

3 ANNUAL REPORT I. MEMBERS OF THE EXECUTIVE COMMITTEE The following persons were confirmed as the Singapore Business Group s Executive Committee during the 24th Annual General Meeting held at the Pullman Saigon Centre, 148 Tran Hung Dao Street, District 1, Ho Chi Minh City, Vietnam on 24 th September Organisational Structure Patron H. E. Ms Leow Siu Lin Singapore Consulate - General in HCMC Consul-General President Norman Lim Metkraft Ltd President, Sales (Asia Pacific) Hon. President Secretariat & Finance Managerment Team Hon. Secretary: Jeffery Lee A8 Resource Co., Ltd Director Hon. Tresurer: Andy Lim Private Benjamin Yap PBC Partners Senior Partner Hon. Advisor Ms Koh Chong Yu International Enterprise Singapore Centre Director, HCMC, Southeast Asia Group Members' Relation (MR) Subcommittee Vice President: Daniel Lim RSP Architects Planners & Engineers General Director Member: Ken Ang United Paints Member: Willie Peh Private External Relations (ExR) Subcommittee Vice President: Seck Yee Chung Baker & Mckenzie LLP HCMC Partner Member: Lynn Ong Groupe Seb Vietnam General Director (ER) Subcommittee Vice President: Dixon Oh Eagle Trading & Logistics Co., Ltd Managing Director Member: Soo Tek Lam The Rep Office of Borouge Pte., LTd in HCMC Chief Representative Vietnam Member: Ajay Panot Raptakos, Brett & Co Ltd General Manager Term : Annual Report & Financial Report Page 2

4 II. MEETINGS OF EXECUTIVE COMMITTEE For the term of , a total of 4 ExCo Meetings were held. These meetings were mostly held at Sedona Suite where the Executive Committee agreed to reduce the Singapore Business Group s expenses for such meetings by not spending on any rental for a function room and footing the bill for each personal consumption of food or drinks during the meetings. III. FUNCTIONS OF EXECUTIVE COMMITTEE The following Executive Committee members were appointed to the following functions within the Singapore Business Group: The aim of the enterprise relations sub-committee is to create opportunities for members to promote and expand their business network in Vietnam. This is done by connecting, engaging and collaborating with other enterprises and business associations in Vietnam and in the region. Sub-committee members: Mr. Dixon Oh, Mr. Ajay Panot, Mr. Soo Tek Lam Members Relations The members relations sub-committee aims to engage members through relevant social and business activities such as seminars and festive events. With the activities and events to keep members engaged, the sub-committee hopes to attract new members to increase SBG membership base and reduce attrition rate of existing members. Sub-committee members: Mr. Daniel Lim, Mr. Ken Ang, Mr. Willie Peh External Relations The external relations sub-committee serves by representing members and the Singapore business community and acts as a voice in addressing economic issues in Vietnam such as the Vietnam Business Forum. It also aims to promote cooperation with other overseas associations and with both non-governmental and governmental organizations for mutual benefits. Sub-committee members: Mr. Seck Yee Chung, Ms. Lynn Ong Corporate Communications This function aims to harness the existing communication channels of the Singapore Business Group to enhance the group s status as a premier business group. These include providing editorial or content direction of the SBG annual membership directory and ensure the corporate identity of SBG is reflected appropriately in a professional manner. This function is supported by the secretariat. Sub-committee members: Mr. Norman Lim, Mr. Jeffery Lee Term : Annual Report & Financial Report Page 3

5 IV. THE SECRETARIAT TEAM A transition to a new team took place at the beginning of the new term 2015/2016 with Mr. Jeffery Lee replacing Mr. Andrew Ong as Honorary Secretariat. Mr. Andrew Ong returned to Singapore for a new opportunity. Ms. Nguyen Minh Ngoc, Ms. Nguyen Hoang Anh Thu and Ms. Vo Ngoc Quynh Tran are the current staffs of the secretariat team. Responsibilities: Ms. Nguyen Minh Ngoc Deputy Corporate & Marketing Manager Responsible for collaboration, partnership and marketing activities Managing all marketing communication for the organisation and activities within the marketing department. Developing the marketing strategy for the company in line with company objectives Co-ordinating marketing campaigns with sales activities Creation and publication of all marketing material in line with marketing plans Planning and implementing all promotional campaigns and events Manage and improve lead generation campaigns, measuring results Overall responsibility for brand management and corporate identity Monitor and report on effectiveness of marketing communications Creating a wide range of different marketing materials Working closely with design agencies and assisting with new product launches Maintain effective internal communications to ensure that all relevant organisation functions are kept informed of marketing objectives Analysing potential strategic partner relationships for organisation marketing Ms. Nguyen Hoang Anh Thu Marketing Officer Managing internal databases Responding to members' inquiries Settling membership renewal Posting membership cards and membership directory to members Maintaining stationery and equipment Managing office operations Getting signatures for the required documents Solving other related duties Term : Annual Report & Financial Report Page 4

6 Ms. Vo Ngoc Quynh Tran Finance & Administration Executive General accounting for SBG Collection of membership fees/events revenue Management of charity/edfund matters Organisation of SBG events V. SBG SECRETARIAT OFFICE The SBG Secretariat Office is located on the 6 th Floor, Minh Tinh Building, A Vo Van Tan Street, District 3, Ho Chi Minh City. The rental lease of the current address will expire on 31st December The Secretariat has used this office since 1st January 2015, with 38 square meter area. It is able to fit one area for one meeting table and two office tables. The Executive Committee currently believes that the office space is appropriate for the secretariat. Photo of the SBG Secretariat Office in District 3, Ho Chi Minh City Term : Annual Report & Financial Report Page 5

7 VI. EVENTS LISTING Every term, the SBG organizes a string of signature events such as the Tet Celebration Gala Dinner, the SBG Annual General Meeting, the CrossChat Live! and Singapore s National Day Celebration Event. On top of these, the SBG also organizes the monthly Raffles Night events. This term, the Executive Committee put together selected topics and themes for each Raffles Night that are presented by guest speakers. This initiative is to make the gathering more relevant and meaningful for members by providing content on top of the usual meet-greet-eat sessions. Eight events were successfully hosted by SBG in the first year of the term that 85% of attendees were satisfied with the organisation. All of the events were over booked. No. Date Event Type Event Name Location November 09, How To Prepare And Organize Government External Relations Lotte Legend Saigon 2016 Meetings Successfully November 10, HCMC Workshop Introduction To Public Novotel Saigon 2016 Speaking Centre November 15, Trends & Tips On How To Capture InterContinental 2016 Vietnamese Consumers On-Line Saigon November 17, Crosschat live! 2016 Vietnam Economic Sheraton Hotel Saigon 2016 Perspective A New Beginning? November 24, Members' Relation Regional Chambers Networking The Reverie Saigon 2016 November 25, Breakfast Workshop: Cyber Security For 2016 Small And Medium Enterprises (SMES) Sofitel Saigon Plaza Breakfast Seminar - "What Is It Like To Be November 30, Novotel Saigon Business Leaders And Managers In A 2016 Centre Globalised World?" December 06, Key Challenges And Opportunities For 2016 Franchising In Vietnam (HCMC) Nikko Saigon December 07, Breakfast Briefing - Sharpening The Saws 2016 For High Performance Teams Park Hyatt Saigon January 15, Members' Relation Reunion Dinner The Reverie Saigon January 19, The 12th Annual Crystal Ball : Expert Predictions And Impact Park Hyatt Saigon February 21, Breakfast Meeting: CSR - A Good Match Le Meridien Saigon For Your SME? Hotel March 10, The Revival Of South East Asian Manufacturing, HCMC Nikko Saigon Hotel March 16, Work Permit And Employment Updates For External Relations Foreigners In Vietnam Sofitel Plaza Saigon Page 6 Term : Annual Report & Financial Report

8 March 23, April 20, April 21, April 21, April 26, April 26, Raffles Night Vietnam Releases New Pullman Saigon Transfer Pricing Decree Centre Novotel Saigon Members' Relation Raffles Night - Business Networking Centre Breakfast Seminar - How To Work With Renaissance Riverside Millennials Saigon External Relations New Government One Year In Review Sofitel Plaza Saigon Breakfast Seminar - What Is In Store For Renaissance Riverside Private Equity Investors In Saigon Seminar : Investments In North Of Vietnam Sheraton Saigon 21 May 16, Members' Relation Bridging Asean Sheraton Saigon 22 May 19, How to doing good is good for business? 23 May 25, Members' Relation Raffles Night - Colorectal Cancer: What You Should Know Caravelle Hotel Saigon Sheraton Saigon 24 June 13, Members' Relation MBC Networking Night The Reverie Saigon 25 June 16, June 17, Members' Relation The European Art of Living Exhibition Gem Center 26 June 23, Members' Relation Raffles Night Mingle & Network Chill Sky Bar 27 June 23, Members' Relation Networking Skills Apollo 360 Center 28 July 12, Breakfast Seminar: Latest Insights from Renaissance Riverside Hospitality Sector Saigon 29 July 27, Raffles Night Vietnam M&A Market: InterContinental Opportunities For Foreign Companies Saigon The Luncheon Business Briefing- Housing 30 July 27, External Relations Law: Restriction On Offshore Loans For Caravelle Saigon Commercial Housing Baker Mckenzie 31 August 09, Members' Relation 52nd Singapore National Day Networking The Reverie Saigon 32 August 10, External Relations Vietnam M&A Forum Gem Center 33 August 16, Work place time Management for English learner Apollo 360 Center 34 August 17, Breakfast Seminar - How to be a smart Le Meridien Saigon Term : Annual Report & Financial Report Page 7

9 Landlord? Hotel August 18, August 21, August 24, August 31, September 06, September 07, External Relations HR Tech Asia Conference & Expo Gem Center Innovation in the private sector Le Meridien Saigon Hotel Breakfast Seminar Motivation spotlight: Twenty 21 One what have we missed? Restaurant Training Export and Purchasing Strategy CCIFV HCMC Office HSBC Annual Business Luncheon "Step into the Future -Vietnam's economic Hilton Hanoi Opera prospects: It's time!" HSBC Annual Business Luncheon "Step Le Meridien Saigon into the Future -Vietnam's economic Hotel prospects: It's time!" Term : Annual Report & Financial Report Page 8

10 Term : Annual Report & Financial Report Photos: Event organized by SBG in Page 9

11 VII. EVENTS ATTENDED Frequently, there will be invitations extended to SBG to participate in forums, and non-governmental or governmental events. This is when members of the Executive Committee of SBG are called upon to represent the Singapore community to foster bilateral ties with Vietnamese and International community in Ho Chi Minh City, Vietnam. Below is the list of events which SBG participated: No. Date Event Name Hosted By 1 August 27, 2016 Mid-Autumn Event CBAH 2 September 14, 2016 Official visit by DPM and Coordinating Minister for National Security Teo Chee Hean to the Socialist Republic of Vietnam Consulate-General of The Republic of Singapore in HCMC 3 November 5, 2016 Diwali Gala 2016 Incham 4 November 21, 2016 Breakfast networking session with Singaporean Accountancy Firms 5 November 29, 2016 Dinner with CG SPRING Singapore Consulate-General of The Republic of Singapore in HCMC 6 December 31, 2016 New Year Eve Dinner CBAH 7 February 18, New Year Celebration Party Taiwanese Chambers Of Commerce In HCMC 8 February 18, Chap Goh Meh Gala Dinner MBC 9 March 18, Gala Dinner HKBAV 10 May 16, Bridging Asean MBC 11 May 24, The International Chambers of Commerce and Business Associations Forum The Council of Taiwanese Chambers of Commerce in Vietnam 12 July 6, Race to success - A leap into the future UOB 13 July 26, Opening Ceremony of TAIWAN EXPO in Vietnam 14 August 4, The 52nd Singapore National Day Reception The Council of Taiwanese Chambers of Commerce in Vietnam (CTCVN) Consulate-General of The Republic of Singapore in HCMC 15 August 7, The 52nd anniversary of Singapore s National Day HUFO 16 August 9, Reception to introduce new Chairperson of Thai Business Association The Consul - General of the Kingdom of Thailand Term : Annual Report & Financial Report Page 10

12 VIII. SBG ON THE NEWS On behalf of the Singapore Business Group (SBG), Mr. Norman Lim, President of SBG, participated in some broadcast interviews conducted by Vietnam television channels. Some events hosted by SBG in were broadcasted such as Raffles Night Vietnam M&A Market: Opportunities For Foreign Companies, the 52 nd National Day Networking Reception. In addition, SBG Executive committee members usually represent SBG to be interviewed by the Bloomberg NBA, Vietnam Investment Review and other newspapers. Photos: The broadcasting of the Raffles Night Vietnam M&A Market: Opportunities For Foreign Companies hosted by the Singapore Business Group on Thursday, 27 July at Intercontinental Saigon. IX. EVENT SPONSORSHIP AND NATIONAL CORPORATE SPONSORSHIP 2016 From September 2016 to September, SBG was particularly honoured to receive great support from the members as well as many generous sponsors. As regards event sponsorships, SBG received an overwhelming support from a total of 160 companies both international and local alike, with total sponsorship value of more than USD 50,000 to organise the events from September 2016 to September including big events such as CrossChat Live! 2016, The Reunion Dinner, The 52nd Singapore National Day Networking Reception, and the monthly Raffles Nights. Almost all events hosted by SBG were supported by kind venue sponsors and lucky-draw gift sponsors. Together with event sponsorships, SBG has received remarkable contributions from five generous National Corporate Sponsors: The Amway Vietnam Co., Ltd, the Standard Chartered Bank,, and the Vietnam Singapore Industrial Park J.V. Co., Ltd are the National Gold Sponsors of the Singapore Business Group (SBG) for, and each organization sponsored for SBG VND 50,000,000to organise events and operational activities. The Northwest Saigon City Development Corporation and the Heineken Vietnam also participated as National Silver Sponsors, in the amount of VND 30,000,000 each. Due to the National Corporate Sponsorship drive, SBG now has strong partnership with big corporations in Vietnam that enhance SBG image and reputation. Also, as SBG is a non-profit organization, the contributions have come a long way to facilitate SBG in continuation of providing benefits to the members. Term : Annual Report & Financial Report Page 11

13 X. SBG S PARTNERSHIPS In order to improve the SBG membership numbers and increase the interests of our members, SBG has been actively seeking for and establishing the cooperation, partnership with many businesses and service providers in Vietnam. This is to create and bring various special discounts and favourable programs to the valued members of SBG. Currently, SBG s members are able to use their membership cards to have to have special offers at more than 100 merchandisers including many luxury hotels, resorts, restaurants and various other good &service providers in Vietnam. Furthermore, on May 25,, in Ho Chi Minh City, Singapore Business Group Ho Chi Minh City Chapter ( SBG ) and StoxPlus Corporation have signed a Memorandum of Understanding (MoU) in providing comprehensive and updated macroeconomic data as well as industry reports from StoxPlus to SBG. The ultimate goal of the collaboration is to increase the transparency of market information, promote understanding about Vietnam market and encourage trade connection opportunities between Singaporean companies and future investors. StoxPlus and SBG have signed a MoU to collaborate on many areas in order to enhance local Vietnamese business and industry information among Singaporean firms, including: (1) Contributing sector previews covering more than 10 key sectors of Vietnam, to be distributed and accessed for free to SBG members via SBG website. Each industry preview summarizes key characteristics of the local market, including market size, market share of key players, value chain analysis, and regulatory framework. The document is useful for Singaporean companies who want to have a quick overview of Vietnam market from the most local and insightful perspective; (2) Contributing most-updated macroeconomic dataset supporting the understanding of Vietnam macro environment. The data is sourced from Fiinpro Platform of StoxPlus, reliable data source being used by all financial investors, securities firms, investment funds, and Government agency of Vietnam. SBG will upload the data for members only to access via its website; (3) Providing special discount of 20% on all StoxPlus industry and company reports to SBG members; (4) Free entrance to StoxPlus events for SBG members; (5) Co-hosting a seminar to update industry information of key sectors in Vietnam for SBG members in. Term : Annual Report & Financial Report Page 12

14 Photos: Attending the signing ceremony, there were Mr. Norman Lim, President, and Enterprise Sub-committee members from SBG, Ms. Nguyen Quynh Lan, Managing Director from Business Information Services of StoxPlus, and also other representatives from SBG and StoxPlus. XI. SBG EDFUND We Care was launched to brand the community social responsibility efforts of the SBG through charity projects and the Education Fund programme. Since its establishment, the Edfund has grown over the years as a regular out reach for SBG and Singaporeans residing in Ho Chi Minh City with the aim to provide scholarship as a form of financial assistance (school fees)to needy and well-deserving local students in pursuing their academic studies. To date (September 2016), SBG has raised more than US$ 452,500 and sponsored over 3,000 students from Primary School Level up to University in Ho Chi Minh City, Danang and Northern Central Vietnam and Mekong Delta provinces. For more details on We Care, please visit Term : Annual Report & Financial Report Page 13

15 XII. SBG MEMBERSHIP STATUS Membership status for SBG was 234 at the end of last year. This year (as of September ), we have a total membership of 280. Because of annual year-end changes, a substantial number of members returned to Singapore or received other overseas postings. In first eight months, owing to the effective strategies and promotional campaigns to attract more new members such as loyalty program, Member-Get-A-Member program, SBG Members discount program improvement, Happy Day promotional programme proposed by the secretariat, SBG attracted more than 120 news members including Singaporean, local business people and other nationality businessmen joining the association. While during 2016, SBG welcomed 56 new members. In 2015, SBG received only 10 new members Individual Membership Corporate Membership Chart 1: Number of SBG Members from 2015 to Despite of the membership fee increment, the number of members joining in has been increased 20% compared to The remarkable growth of the membership significantly distributed to the revenue increment of SBG. To maintain and increase the number of membership, SBG has been actively re-connected with members joining SBG in previous years, invited them to renew the membership and built a long-term relationship between their company and SBG. At the same time, SBG has been strengthened the communication channels of SBG and improve the promotion activities on SBG website, Facebook Page, LinkedIn Page. The current SBG memberships as at end of September : Corporate members: 183 Ordinary members: 51 Associate members: 32 Honorary members: 6 Spouse members: 7 Total SBG membership: 280 Term : Annual Report & Financial Report Page 14

16 XIII. SBG MEMBERS ADDED BENEFITS AND PRIVILEGES To improve the membership entitlements and attract more members, SBG has concentrated to create more partnerships with various merchandisers, good and service provide in Vietnam. In this regard, Members Birthday Treat Program was released in early this year receiving many positive feedbacks from members. From onwards, any member, who registers for SBG Membership, can enjoy the SBG special Members Birthday Treat offers during their birthday month. This program was created as a way for us to give these exciting birthday indulgences to and celebrate with our valued members on their birthday and to make it more memorable. SBG members can download and bring the e-vouchers, SBG membership card and proof of their date of birth to enjoy these treats and celebrate with their friends and family at restaurants, hotels and other merchants listed in SBG's printed membership directory and SBG website ( The offer information is also sent to SBG members via before their birthday reminding them of their rewards. XIV. RECORD OF APPRECIATION The Executive Committee would like to thank the kind and generous sponsors for their continual support and contribution to all of the events organized by the SBG. Our appreciation is extended as well to the donors of SBG s EdFund. We would also like to invite interested members to support our upcoming National Corporate Sponsorship package. And to request assistance from all members to submit payment of membership fees promptly upon receiving of payment invoice from our secretariat. Your support will enable SBG to improve services to all members! Jeffery Lee Honorary Secretary September Term : Annual Report & Financial Report Page 15

17 FINANCIAL REPORT I. SINGAPORE BUSINESS GROUP Closing Cash Balance, Cash Receipt and Expenditure Statement for the Year ending 31 July (in VNĐ Dollars) As at 31 July As at 31 July 2016 %age CASH RECEIPT Membership Fees 846,835, ,712, % Raffles Night 123,980,000 15,850, % Sponsorships / OSU Fundings / Donations 240,000, ,952, % Events - CNY Dinner 406,080, ,750, % Events - National Day Dinner 154,300, ,500, % Events - Others (AGM 2016) 1,500, Admin Fees Collections - EdFund / Tet Charity 0 6,708,000 - SBG Membership Directory / Website (Advertisement) 237,233,871 90,915, % Reimbursement 0 23,970,000 - Credit from SBG EDFUND A/C 0 1,140,000 - Other Collections 4,563,234 5,200, % Bank Interest 965, , % Sub-Total 2,015,457,607 1,585,131, % less CASH EXPENDITURE Raffles Night 76,941,760 15,752, % CNY Dinner 254,320, ,530, % National Day Dinner 236,507, ,452, % VBF Fee 52,500,000 52,500, % SBG Membership Directory / Website Expenses 61,888,000 56,817, % Office Rental 161,129, ,195, % Allowance for Co-ordinator 380,896, ,561, % Office Expenses 147,941, ,204, % AGM Expenses 14,112,999 18,869, % Miscellaneous 4,988,500 3,205, % Transfer to SBG EDFUND 0 3,140, % Bank Charges Sub-Total 1,391,226,225 1,369,226, % Surplus/(Deficit) of Receipts over Expenditures 624,231, ,905, % Cash Balance at Beginning of Year 927,629, ,934, % FX Translation Gain/(Loss) 1,427,820-5,210,721 - Cash Balance at End of Year (NET CASH BALANCE) 1,553,288, ,629, % Term : Annual Report & Financial Report Page 16

18 II. EDUCATION FUND Movement of SBG EDFUND disbursement for the period as stated below: (in VNĐ) CASH RECEIPT From 01 August 2016 to 31 July From 01 August 2015 to 31 July 2016 Proceeds from NDCG 0 0 Proceeds from NDCD 0 2,264,000 Proceeds from SBG Charity Golf 0 0 Proceeds from Charity Collections 0 128,700,000 Sales of WeCare Mugs 0 0 Donations from Singapore National Day event 18,400, ,622,000 FX (conversion) ,044,000 Bank Interest 232, ,879 TOTAL RECEIPTS 18,633, ,895,879 less CASH EXPENDITURE Expenses for NDCG 0 0 SBG Admin Fee for NDCG 0 0 Expenses for NDCD 0 0 SBG Admin Fee for NDCD 0 0 Expenses for SBG Charity Golf 0 0 SBG Admin Fee for SBG Charity Golf 0 0 Disbursement to High School/Secondary/Primary Students 0 181,138,000 Disbursement to University Students 0 207,560,000 Scholarship Ceremony 0 10,816,000 Expenses (mailing fee, transfer fee, etc.) 0 21,091,500 FX Loss 0 0 Bank Charges 0 0 TOTAL EXPENDITURES 0 420,605,500 Surplus/(Deficit) of Receipts over Expenditures 18,633,834 (52,709,621) Cash Balance at Beginning of Year 212,963, ,673,402 Cash Balance at End of Year 231,597, ,963,781 * Footnote: USD Account (Dormant Account) USD USD Andy Lim Honorary Treasurer September Term : Annual Report & Financial Report Page 17