annual report - singapore business group · 2018-05-31 · term 2015 -2016: annual report &...

ANNUAL REPORT

Term 2015 -2016

This is the final year of the first two-year term of an 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

9/23/2016

Term 2015 -2016: Annual Report & Financial Report

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 ..................................................................................................................................................................... 5

VII. Events attended ................................................................................................................................................................. 8

VIII. SBG on the News .............................................................................................................................................................. 9

IX. Event Sponsorship and National Corporate Sponsorship 2016 ......................................................................................... 9

X. SBG‟s Partnerships ........................................................................................................................................................... 9

XI. SBG Edfund .................................................................................................................................................................... 11

XII. SBG membership status .................................................................................................................................................. 11

XIII. Record of appreciation .................................................................................................................................................... 11

FINANCIAL REPORT .......................................................................................................................................................... 12

I. Singapore Business Group .............................................................................................................................................. 12

II. Education Fund ............................................................................................................................................................... 13


ANNUAL REPORT

I. MEMBERS OF THE EXECUTIVE COMMITTEE

The following persons were confirmed as the Singapore Business Group‟s Executive Committee during the 23rd Annual

General Meeting held at the Duxton Hotel Saigon, District 1, Ho Chi Minh City on 29th

October 2015.

Organisational Structure

President

Norman Lim

Metkraft Ltd

Vice President, Sales

(Asia Pacific)

Members' Relation (MR) Subcommittee

Vice President: Vacant

Member: Ken Ang

United Paints

Member: Daniel Lim

RSP Architects Planners & Engineers

General Director

Member: Willie Peh

Private

External Relations (ExR) Subcommittee

Vice President:

Seck Yee Chung

Baker & Mckenzie LLP HCMC

Partner

Emterprise Relations (ER) Subcommittee

Vice President:

Andy Lim

Private

Secretariat & Finance Managerment Team

Hon. Secretary: Jeffery Lee

A8 Resource Co., Ltd Director

Hon. Tresurer: Andy Lim (acting)

Private

Hon. President

Benjamin Yap

PBC Partners

Senior Partner

Hon. Advisor

Ms Koh Chong Yu

International Enterprise Singapore

Centre Director, HCMC, Southeast Asia Group

Patron

H. E. Ms Leow Siu Lin

Singapore Consulate - General in HCMC

Consul-General


II. MEETINGS OF EXECUTIVE COMMITTEE

For the term of 2014/2016, a total of 13 ExCo Meetings were held. These meetings were mostly held at Sedona Suite or

Duxton Hotel Saigon 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:

Enterprise Relations

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. Andy Lim

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.


Mr. Seck Yee Chung

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.


Mr. Ken Ang, Mr. Daniel Lim, Mr. Willie Peh


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 and Ms. Vo Ngoc Quynh Tran are the current staffs of the secretariat team.

Responsibilities:

Ms. Nguyen Minh Ngoc

Corporate & Marketing Communications:

Responsible for all corporate and marketing communications activities

Brand custodian of SBG‟s corporate identity and image

Administrating, maintaining and developing SBG website and Facebook page

Sending out information of events, weekly updates, and members‟ news via EDM

Marketing of SBG membership via events and online mediums

Managing database of SBG membership benefits‟ merchants

Organising of SBG events, campaigns

Managing Members‟ Discounts Program

Administrating annual membership sign-ups and renewal, launch loyalty program

Managing annual membership directory design and content

Ms. Vo Ngoc Quynh Tran

Finance & Administration:

General accounting for SBG

Collection of membership fees/events‟ revenue

Management of charity/EdFund matters

Organisation of SBG events

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.


Mr. Norman Lim, Mr. Jeffery Lee


V. SBG SECRETARIAT OFFICE

The SBG Secretariat Office is located on the 6th

Floor, Minh Tinh Building, 115 – 115A Vo Van Tan Street, District 3, Ho Chi

Minh City.

The rental lease of the current address will expire on 31st December 2016. 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.

VI. EVENTS LISTING

Every term, the SBG organizes a string of signature events such as the Tet Celebration Gala Dinner, the SBG EdFund Charity

Golf 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.

No. Date Event Type Event Name Location

1 9 Aug 15 Members Relations Celebrate Singapore‟s 50th

Birthday as One People Sheraton Hotel

2 21 Aug 15 Enterprise Relations Co-host 2015 Tax Law Changes – All you need to

know Caravelle Hotel

3 26 Aug 15 Enterprise Relations Co-host Business Lunch – Tourism Opportunities

in Vietnam Le Meridien Hotel

4 9 Sep 15 Members Relations

Co-host Business Breakfast Seminar: Opportunities

and steps for foreign ownership of property in

Vietnam

Park Hyatt Hotel

5 10 Sep 15 Enterprise Relations

Co-host HSBC Annual Business Luncheon: “Step

into the Future – Vietnam‟s turning point: What‟s

next?”

Park Hyatt Hotel

6 17 Sep 15 Enterprise Relations Co-host Investment Conference on Cambodia,

Laos and Myanmar Sofitel Saigon Plaza

7 20 Sep 15 Members Relations Co-organize Mid-Autumn Festival Wet Party Saigon Pearl

8 24 Sep 15 Enterprise Relations Co-host Vietnam CEO Forum White Palace

9 6 Oct 15 Enterprise Relations Co-host Business Networking Night Duxton Hotel

10 4 Oct 15 Members Relations Ed-Fund Scholarship Award Ceremony Dong Thap Province

11 10 Oct 15 Members Relations Ed-Fund Scholarship Award Ceremony Duxton Hotel

12 29 Oct 15 Secretariat Annual General Meeting Duxton Hotel

13 12 Nov 15 Enterprise Relations Cross Chat Live! 2015

Vietnam Economic Perspective 2016 Duxton Hotel

14 16 Jan 2016 Members Relations Reunion Dinner Duxton Hotel


15 29 Mar 2016 Enterprise Relations Co-host: The Second Commonwealth Networking

Drinks Night Sorae, AB Tower

16 21 Apr 2016 Enterprise Relations Co-host: Training-Effective Uses and Applications

of INCOTERMS in International Trade

CCIFV HCMC - 15th

Floor The Landmark

17 22 Apr 2016 Members Relations Raffles Night Business Networking Club Royale

18 27 Apr 2016 Enterprise Relations Co-host: MBC Business Luncheon- Insights from

the Latest Development of the Chinese Renminbi

New World Hotel

Saigon

19 12 May 2016 Enterprise Relations Co-host: Business Luncheon- Managing

investment in an evolving markets Sofitel Plaza Saigon

20 25 May 2016 Enterprise Relations Co- Host: Business Luncheon- Annual Tax Update

by KPMG

Sofitel Plaza HN and

Sofitel Plaza Saigon

21 26 May 2016 Enterprise Relations Co-host: Agribusiness: From Farm to Plate Le Meridien Saigon

22 26 May 2016 Enterprise Relations Co-host: Cock & Bull of Malaysia Real Estate

Industry 2016

Club Royale

23 14 Jun 2016 Enterprise Relations

Co-host: A changing world: International

arbitration for commercial disputes in an integrated

ASEAN and under EVFTA

Lotte Legend Hotel

Saigon

24 22 Jun 2016 Enterprise Relations

Co-host: Mid-Year Review Luncheon, An

evaluation of the current and prospective business

climate

Caravelle Saigon Hotel

25 23 Jun 2016 Members Relations RAFFLES NIGHT - Business Networking Sorae

26 6 Jul 2016 Enterprise Relations Co-host: „Eurocham Business Luncheon : Is

outsourcing right for your business

New World Saigon

Hotel

27 20 Jul 2016 Enterprise Relations VSBF 2016- Towards A Stronger Economic Tie Hotel Equatorial HCMC

28 20 Jul 2016 Members Relations

RAFFLES NIGHT - Open Dialogue: Having

PROBLEMS Operating Business In Vietnam? We

will like to hear from you.

Hotel Equatorial HCMC

29 9 Aug 2016 Executive

Committee

51st Singapore‟s National Day: Building our

Singapore of Tomorrow Duxton Hotel Saigon

30 18 Aug 2016 Enterprise Relations Co-host: Vietnam M&A Forum 2016

31 25 Aug 2016 Enterprise Relations Co-host: Bribe- proof- Your Business against

Corruption

The Reverie Saigon

Hotel

32 09 Sep 2016 Enterprise Relations Vietnam‟s Retail Market and Consumer Trends Sofitel Plaza Saigon

33 22 Sep 2016 Enterprise Relations 4

th Annual Vietnam Real Estate Market

Symposium

New World Saigon

Hotel


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

1 November 14, 2015 Diwali Gala 2015

2 November 21, 2015 Charity Night 2015

3 December 2, 2015 88th Birthday anniversary of King Bhumibol

4 December 12, 2015 Vietnam Go Global

5 January 8, 2016 (CBAH) Guangdong Enterprise Confederation

6 February 25, 2016 The 55th

National Day & the 25th

Liberation Day Celebration

7 February 27, 2016 Chap Goh Meh

8 March 19, 2016 Gala Dinner:" The Friendship in Asean"

9 March 26, 2016 2016 Gala Dinner: Good VS Evil

10 August 4, 2016 The 51st Singapore National Day

11 August 18, 2016 (CBAH) Guangdong Enterprise Confederation

12 August 27, 2016 2016 Mid-Autumn Gala Dinner

13 August 31, 2016 The 71st Vietnam National Day

14 September 10, 2016 Mid-Autumn Wet Party


VIII. SBG ON THE NEWS

On behalf of the Singapore Business Group (SBG), Mr. Seck Yee Chung, Vice President of SBG, participated in a broadcast

interview conducted by VTV4 regarding Vietnam - Singapore Economic Cooperation. The program was broadcast on VTV4 at

9:30PM, Saturday, 27th August and replayed at 8:30AM, Sunday, 28th August.

In addition, SBG Executive committee members usually represent SBG to be interviewed by the Vietnam Investment Review

and other newspapers.

IX. EVENT SPONSORSHIP AND NATIONAL CORPORATE SPONSORSHIP 2016

In 2016, SBG is particularly honoured to receive great support from the members as well as many generous sponsors.

Regarding event sponsorships, compared to 2015, this year SBG received an overwhelming support from a total of 40

companies both international and local alike, with total sponsorship value of more than USD 18,000 to organise the 51st

Singapore National Day Celebration. Likewise, almost USD 14,000 was contributed by 23 enterprises for the Reunion Dinner

– the Tet Gala Dinner organised by SBG on 16th

January 2016. The monthly Raffles Night events are also 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. Last year, we had only one National Gold Sponsor (Duxton Hotel Saigon).

The Standard Chartered Bank, the Northwest Saigon City Development Corporation, and the Vietnam – Singapore Industrial

Park J.V. Co., Ltd are the National Gold Sponsors of the Singapore Business Group (SBG) for 2016, and each organization

sponsored for SBG VND 50,000,000 to organise events and operational activities. The Amway Vietnam Co., Ltd and the

Huttons Somot also participated as National Silver Sponsors, in the amount of VND 30,000,000 each.

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.

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 40 hotels,

resorts, restaurants and many other service providers in Vietnam.

Moreover, on 8th

August 2016, SBG officially signed a business partnership with the Standard Chartered Bank Vietnam to

bring exclusive benefits and privileges to all SBG members when they open a personal bank account or a business bank

account at the Standard Chartered Bank Vietnam.


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 outreach

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 www.sbghcm.org/en/we-care/about-we-care.html

XII. SBG MEMBERSHIP STATUS

Membership status for SBG was 231 at the end of last year. This year (as of September 2016), we have a total

membership of 221.

Due to annual year-end changes and the slow economic conditions experienced last year, a substantial number of members

returned to Singapore or received other overseas postings.

In first nine months 2016, SBG is pleased to welcome more than 70 news members that mostly joined as corporate members.

XIII. 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 2016

The current SBG memberships as at end of September 2016:

Corporate members: 139

Ordinary members: 44

Associate members: 27

Honorary members: 4

Spouse members: 7

Total SBG membership: 221

http://www.sbghcm.org/en/we-care/about-we-care.html


FINANCIAL REPORT

I. SINGAPORE BUSINESS GROUP

Closing Cash Balance, Cash Receipt and Expenditure Statement for the Year ending 31 July 2016

(in USD Dollars) As at 31 July 2016 As at 31 July 2015

CASH RECEIPT (@ VNĐ 22,360) (@ VNĐ 22,500)

Membership Fees 26,820.76 29,860.16

Raffles Night 708.86 3,265.96

CNY Dinner 12,868.96 13,648.89

SBG Charity Golf 0.00 0.00

National Day Dinner 17,687.84 38,543.81

EDFUND Charity Collections 300.00 146.67

OSU Fundings / Donations 7,064.04 3,100.86

Reimbursement 1,072.00 107.33

SBG Membership Directory / Website (Advertisement) 4,066.01 6,519.29

Credit from SBG EDFUND A/C 50.98 1,986.67

Other Collections 232.56 0.00

Bank Interest 19.38 14.37

Sub-Total 70,891.39 97,194.01

less

CASH EXPENDITURE

Raffles Night 704.47 2,544.51

Social Events 0.00 1,018.09

CNY Dinner 10,175.77 13,837.57

VBF Fee 2,347.94 2,333.33

SBG Charity Golf 0.00 0.00

National Day Dinner 19,116.82 18,428.67

EDFUND Charity Expenses 0.00 100.00

Office Rental 7,209.08 7,080.51

Office Expenses 6,493.92 6,864.69

AGM Expenses 843.87 1,892.89

Miscellaneous 143.35 401.92

Allowance for Co-ordinator 11,518.84 11,281.16

SBG Membership Directory / Website Expenses 2,541.02 4,620.44

Transfer to SBG EDFUND 140.43 4,648.89

Bank Charges 0.00 0.00

Sub-Total 61,235.51 75,052.67

Surplus/(Deficit) of Receipts over Expenditures 9,655.88 22,141.34

Cash Balance at Beginning of Year 31,863.77 10,249.71

FX Translation Gain/(Loss) 175.68 (527.28)

Cash Balance at End of Year 41,695.33 31,863.77

less

Net Proceeds Collected from EDFUND Charity events 0.00 0.00

Net Payments for National Day Dinner 0.00 18,121.78

NET CASH BALANCE 41,695.33 13,741.99


II. EDUCATION FUND

Movement of SBG EDFUND disbursement for the period as stated below:

(in VNĐ) From 01 August

2015 to 31 July

2016

From 01 August

2014 to 31 July

2015 CASH RECEIPT

Proceeds from NDCG 0 0

Proceeds from NDCD 2,264,000 0

Proceeds from SBG Charity Golf 0 0

Proceeds from Charity Collections 128,700,000 82,800,000

Sales of WeCare Mugs 0 5,600,000

Donations from Singapore National Day event 236,666,000 253,474,000

FX (conversion) 0 6,402,000

Bank Interest 265,879 93,696

TOTAL RECEIPTS 367,895,879 348,369,696

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 181,138,000 167,000,000

Disbursement to University Students 207,560,000 176,000,000

Scholarship Ceremony 10,816,000 26,230,050

Expenses (mailing fee, transfer fee, etc) 21,091,500 14,110,000

FX Loss 0 0

Bank Charges 0 61,000

TOTAL EXPENDITURES 420,605,500 383,401,050

Surplus/(Deficit) of Receipts over Expenditures (52,709,621) (35,031,354)

Cash Balance at Beginning of Year 265,673,402 300,704,756

Cash Balance at End of Year 212,963,781 265,673,402

* Footnote:

USD Account (Dormant Account) USD 806.66

Foreign Exchange Rate @ VND 22,360

18,036,918

Total Cash Balance at End of Year 231,000,699

Andy Lim

Vice-President / Stand-In Treasurer

September 2016

annual report - singapore business group · 2018-05-31 · term 2015 -2016: annual report &...

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