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EMPOWERING BUSINESSES FOR TOMORROW
Annual Genera lMeet ing 2020
3 0 J u n e 2 0 2 0
As of Dec 2019, SBF represents 27,200
companies as well as local and foreign
chambers and key national industry
associations from business sectors that
contribute significantly to Singapore’s
economy.
Top 5 Industries
✓ Wholesale Trade
✓ Financial and Insurance
✓ Manufacturing
✓ Professional Services
✓ Construction & Civil Engineering
Wholesale Trade21%
Other Financial and Insurance Activities
15%
Manufacturing12%Professional Services
9%
Construction and Civil Engineering
8%
IT and Related Services6%
Logistics and Transportation
5%
Banking and Insurance5%
Administrative & Support Service
Activities4%
Retail Trade3%
Real Estate Activities3%
Hotels, Restaurants & Accommodation
3%
1%1%
Education1%
1%
0.5 to 1.0
million
1 to 5 million
5 to 10 million
10 million and
above
Our Members
2
2019 Year in Review – Empowering Businesses for Success
27,149SBF
Members
53,972Participants
Engaged
616Events & Activities
29Outgoing Missions
40Incoming
Delegations
2019 in Numbers
2019 Key Initiatives:Strengthening Businesses
Taking on Inequality with Sustainable
EmploymentEight months in the making, this report is the culmination of the insights and feedback of over
300 business leaders.
Strengthening Businesses
On 22 November, close to 200 business leaders and industry
stakeholders attended the Sustainable Employment Conference.
Guest of Honour President Mdm Halimah Yacob launched the
Sustainable Employment Pledge alongside 20 companies. To date, more than 130 companies have
pledged.
6
Budget 2019 Dialogues Business Sentiments
Strengthening Businesses
SMEC’s Budget recommendations focused on transformation and growth. Post-Budget briefings
provided insight to the implications and provisions of the Budget.
Dialogues between the business community and political leaders,
senior decision-makers and various key business stakeholders
Conducted research and surveys to measure and assess business
sentiments on a range of issues, as well as seminars on business outlook
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2019 Key Initiatives:Broadening Horizons
The fifth edition of the annual ASEAN Conference saw the launch of the SBF BusinessASEAN Network. More than 500 business
leaders and experts gathered to discuss the
future of ASEAN.
Broadening Horizons: Flagship Events
On its third year, Digitize ASEAN pushed for stronger collaboration
between governments, businesses and the workforce. The ASEAN Applied Research
Centre was also launched.
The fifth edition of the Singapore Regional
Business Forum focused on strengthening the
success of cross-border projects like the BRI. It
was followed by the inaugural Singapore
Regional Infrastructure Summit.
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Broadening Horizons: High-Level Missions
In conjunction with PM Lee’s participation in the Belt & Road Forum for International Cooperation, SBF led a
business delegation of eight business leaders to Beijing, China. SBF Chairman Mr S.S. Teo also delivered a speech at
the inaugural Belt and Road CEO Conference.
Inaugural Business Mission to Russia
In conjunction with the 10th Inter-Governmental Commission between
Singapore and Russia, the mission had 12 delegates exchanging views with top Government leaders from Singapore.
A business delegation to Vietnam called on the Prime Minister of
Vietnam and senior government officials, aside from exploring business opportunities in the
country. The Vietnam-Singapore Business Council was also
launched.
Business Delegation to China
Business Delegation to Vietnam
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Broadening Horizons: Trade Shows
2nd CIIESBF led a larger and more
diverse delegation in 2019 to the China International Import
Expo. Twenty-six MoUs, valued at $260 million, were
also signed between Singapore and Chinese
enterprises at the Singapore-China Trade & Investment
Forum.
The 16th China-ASEAN Expo promoted Singapore’s
strategic role as a regional connector for trade and commerce. The various
Pavilions highlighted Singapore’s innovation
expertise across sectors.
CAEXPO
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Broadening Horizons: Incoming Delegations
Held in conjunction with the state visit of the King of Jordan, the Roundtable had business
representatives of both countries identifying areas of cooperation. Six MoUs were also signed
between Singapore and Jordanian companies.
Singapore-Jordan Business Roundtable
Organised in conjunction with the state visit of the President of Turkmenistan, the Forum explored emerging opportunities in
sectors like oil and gas, construction and agriculture. Nine agreements were inked, including an MoU between SBF and the
Chamber of Commerce and Industry of Turkmenistan.
Singapore-Turkmenistan Business Forum
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2019 Key Activities:Gearing Up for the Future
Boosting Business Transformation
Future Economy Conference & Exhibition
Gearing Up for the Future
SBF-SMEs Go Digital Industry Forums focus on logistics, retail, wholesale and security sectors, with support of various trade associations. Participants go
through the Industry Transformation and Digital Maps, and have one-to-one
consultation clinics.
This initiative, including the SBF-SMEs Go Digital “Leaders for
Transformation” Series is led by the SBF Digitalisation
Committee.
The third FECE explored how technology is reshaping business models, jobs and how
stronger linkages should be forged between tech adoption, job redesign and upskilling of
employees.
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Professional Conversion Programme – South East
Asia Ready Talents
FTA Education & Outreach
Gearing Up for the Future
Since the PCP-SEA was launched in 2018, over 140 companies have benefited with more than 200
candidates matched to vacancies largely in wholesale trade. The
Programme was extended due to overwhelming response.
To help businesses leverage FTAs to internationalise, SBF set up an FTA Education & Outreach arm to raise awareness and educate Singapore
businesses on FTAs.
Inaugural Strategic Planning Session for
TACsOver 70 leaders from more than 40 trade
associations and chambers deep-dived into pertinent issues such as internationalisation, innovation and digitalisation as well as how TACs need to transform to stay relevant for
the future.
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2019 Highlights:Advocating Inclusivity & Sustainability
SBF Foundation (SBFF) Global Compact Network Singapore (GCNS)
Advocating Inclusivity & Sustainability
SBFF engaged seven partners and disbursed $4.03 million to programmes that support over 1,000
individuals including the homeless, persons with disabilities, youths-at-risk and students from low—
income families.
Through various platforms for multi-stakeholder engagement and collective action, GCNS advances the stewardship of sustainable business practices
through programmes like the annual GCNS Summit, GCNC Youth Forum, CEO Roundtable and Singapore Apex Corporate Sustainability Awards Gala Dinner.
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Helping Businesses Meet the Chal lenges of COVID -19 & Emerge Stronger
Resilience Diversification
Manpower & Jobs
TransformationHelp & Support
Innovation
Our Priorities Now
19
SBF Surveys Dialogues with the Government
Acting as the Voice of Businesses & TACs
SBF takes a proactive approach in regularly seeking insights and opinions from the business community. Several surveys were conducted over the past few months, especially in view of COVID-19, for ground
sensing of sentiments and challenges. Our Government recognises these as useful inputs to the
formulation of their policies, programmes & assistance measures. We also use these as inputs to
shape our activities to help businesses.
SBF business leaders actively dialogue with our Government to provide feedback from businesses. Our
Government values this. Feedback from SBF has contributed to several support measures introduced by the
Government on COVID-19.
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Fair Tenancy International Advocacy
Acting as the Voice of Businesses & TACs
SBF’s SMEC supports the Fair Tenancy Framework Industry Committee’s
(FTFIC) recommendation to address the imbalance in the relationship between institutional landlords and tenants. The
FTFIC put forward a position paper listing 15 key recommendations to
MinLaw and MTI on 21 May.
Advocacy efforts on trade and investment were made on five key international business platforms,
namely APEC, ASEAN BAC, B20, WTO and ICC. They focused on COVID-19-related recommendations and the importance of a trade facilitative
environment.
Polls with TACsSBF conducted polls with TACs on
various issues – holding AGMs during COVID-19, impact of COVID-19 and
challenges faced. Results of the latter were shared with ESG. SBF has also
appealed to government agencies to extend rental relief measures to all
TACs.
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Recommendations for
Fair Tenancy Legislation
COVIDBiz Helpline Business Matching Service
Addressing Business Concerns
The Helpline is an additional avenue for companies to get help in navigating COVID-19-related
government advisories, the various grants and measures introduced, and seek advisory on border
restrictions, business support measures and movement of goods in key markets globally. As of 24
June, SBF attended to 1,065 enquiries.
Launched on 13 April, the Service connects Singapore companies with suppliers, domestically and overseas.
As of 24 June, it has successfully matched 117 suppliers to 36 buyers.
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SBF ManpowerConnect SGUnited Jobs Initiative
Manpower & Jobs
Jointly launched by SBF and MOM to help companies better manage their
manpower needs by connecting companies with excess manpower to
companies facing shortage of manpower. As of 24 June, SBF has
connected close to 2,000 companies and facilitated the transfer of almost
1,500 WPHs.
The Government introduced this initiative to help about 100,000
Singaporeans access job opportunities. SBF will help to match the demand and supply of manpower for Singaporeans and PRs & reach out to TACs to collaborate. As of 24 June,
SBF has received 1,944 surplus workers from 213 companies and
2,141 vacancies from 57 companies.
SGUnited TraineeshipsSBF is the programme manager for
the SGUnited Traineeships Programme. It is meant to support our fresh graduates and boost their
employability. As of 24 June, close to 750 companies have been approved to provide traineeships for more than
7,000 vacancies.
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BCP ConnectBusiness Resilience
Advisory Programme
Building Business Resilience & Facilitating Transformation
The Programme aims to help business leaders deal with the present crisis
and equip them for the future, through a series of webinars and
advisory sessions, as well as a number of free clinics on key topics. SBF
members are eligible for RISE Fund support of up to $500 to offset costs.
Industry 4.0 Human Capital Initiative
IHCI is the first programme in Singapore dedicated to equipping
companies with people management and job redesign skills required for
successful Industry 4.0 transformation. This programme is
targeted at manufacturing companies. More than 20 companies have started
the programme. The IHCI self-help portal went live in May.
Supported by ESG, SBF is working to launch a series of business
continuity planning (BCP) programmes aimed at helping companies build up internal
capabilities in BCM systems, risk management, and emergency
management.
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Going Global
SBF, in partnership with Enterprise Singapore, set up GlobalConnect@SBF to be the partner for Singapore companies looking to expand overseas. With a focus on ASEAN, frontier and emerging markets, FTA education and outreach, and markets along the Belt and Road, GlobalConnect@SBF
supports companies’ business expansion plans to new markets.
Topical research and case studies are also be developed to help companies looking to internationalise.
Attended to 191 enquiries
Assisted 110 companies
Two companies successfully expanded
overseas
Organised 38 webinars
Engaged 4,003 participants
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ASEAN China & North Asia
Going Global: What’s Next
One-to-one consultation and advisory sessions with market specialists for
Indonesia and Vietnam are ongoing. SBF intends to set up overseas
presence in Ho Chi Minh and Jakarta in Q3/Q4 2020. We are also looking for dedicated personnel for Thailand and
Myanmar markets.
SBF launched the “China Economic Outlook Webinar Series” to provide
updates on China’s economic situation post-COVID-19. Webinars on the
infrastructure sector are also ongoing. The BRI Connect Portal is expected to
launch in Nov 2020. A BRI Regional Business Survey will also be
conducted in Q3 2020.
AEMEAThe team has been organising various
webinars focusing on emerging markets like Africa and the Middle East. These sessions provide insight to the impact
of COVID-19 on the global business landscape and potential opportunities. An upcoming FYIstival for the African region is being planned for Q3 2020.
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SBF-YBLN Hope Fund SBF RISE Fund
Driving Funding Support
SBF set up a $2.5 million Rising in Support of Enterprises (RISE) Fund in
June. SBF members with a share capital not exceeding $5 million, can
apply for support of up to $500 to offset costs of a wide range of
qualifying activities conducted by SBF, its programme partners, and other
TACs.
SBFF Compassion FundSBF Foundation will provide $2 million
in funding to enable TACs and their members to set up their industry-led Compassion Funds to help employees
in need. SBFF will match dollar for dollar up to $200K per TAC. Six TACs will set up their respective Funds,
while another six will support to raise funds.
YBLN collaborated with Goldbell Evolutionary Network to provide
SMEs access to short-term working capital loans. SMEs could draw down
on a seed fund of S$5 million and receive $50k within 48 hours if their applications were approved. Loans
were disbursed to close to 50 companies.
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Thank you for your support!
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