Founded in 1837
The Singapore International Chamber of Commerce is the voice of international business in Singapore.
We represent some of the world’s largest international corporations and leading companies in Singapore. By engaging with policymakers and key stakeholders, we give our members a competitive advantage in today’s rapidly changing economy.
We bring together members from over 40 nations and 20 industry sectors for the common goal of sustaining Singapore’s edge as the premier global platform for business.
Our roots are in Singapore; our deep insights and extensive network are borne out of nearly 200 years of experience.
What we do for our members
We Create Networks
We Share Expertise
We Facilitate Trade
SCCIOB conducts a briefing session on ETS Scheme and APEX Programme
Wednesday, 26 February 2014
SICC Board Room
In a piece of win-win collaboration the Singapore Chinese Chamber Institute of Business (SCCIOB) conducted a briefing for SICC members on the ETS Scheme and APEX Programme.
SCCIOB representatives Mr Justin Lee and Ms Cleo Goh gave informative presentations on WDA’s Enterprise Training Support (ETS) Scheme and the Aspiring Productivity Excellence (APEX) programme respectively. The latter programme is designed to help companies identify and train their own in-house productivity managers. SCCIOB also invited Mr Toh Ming Hon from the Singapore Institute of Manufacturing Technology (A*Star) to talk about the importance of enhancing efficiency and productivity in an organisation.
MEDIA STATEMENT FROM
SINGAPORE INTERNATIONAL CHAMBER OF COMMERCE
ON SINGAPORE BUDGET 2014
Singapore, 21 February 2014
The Singapore International Chamber of Commerce (SICC) is impressed with Budget 2014’s focus on quality growth and the continued steps to enhance social mobility and inclusiveness.
It is no surprise that the government is forging ahead by enhancing measures to encourage increased productivity, innovation and the internationalisation of Singapore companies. This is a necessity for Singapore companies to remain competitive. SICC welcomes the extension of the Productivity and Innovation Credit (PIC) scheme for another three years.
SICC agrees with the DPM and Minister for Finance’s comment that productivity is not just about dollars and cents. It is about changing mindsets sector by sector, discarding outdated practices and innovating for a sustainable future.
However, as recent pre-budget surveys have shown, companies continue to struggle with higher business costs and a shortage of manpower. These lead to inflationary pressures which need to be carefully monitored.
On the question of manpower, SICC still believes that sector specific calibration of the manpower policy will help companies progress in their productivity journey.
For Media Enquiries, please contact:
Ms Reavathi Sinnathamby
Senior Manager, Communications & Events
Tel: 6500 0966
SICC PRE-BUDGET EVENT
21 January 2014
Our guest speaker was Mr Shanker Iyer, Founder and Chairman of Iyer Practice. He gave a quick overview of the key measures of last year’s budget before talking about SICC Members’ Budget Wishlist for 2014.
The event ended with a Q&A session and discussion on what might be expected in the 2014 Budget which will be announced on 21 February 2014.
Join us for our annual post-budget event on 5 March 2014 at which Mr Iyer and Mr Kit Wei Zheng, Economist with Citibank will provide perspective and comment on the key measures announced in this year’s budget. Full details of the event can be found on our web site.
SICC MEMBERS' NETWORKING NIGHT
16 January 2014
Conrad Centennial Singapore
The first Members’ Networking Night of the year was held on Thursday, 16 January 2014 at Conrad Centennial hotel. The networking sessions continue to be a draw. This time 47 members from 12 industries enjoyed meeting over good food from the Conrad and wines sponsored by Certain Cellars.
SICC’s Facebook team also went around distributing little cards with the URL to members and encouraged them to ‘Like’ the SICC Facebook page - https://www.facebook.com/SICCSG .
Participation at our events is open to all employees of a member company. Please contact us at firstname.lastname@example.org if you are interested to find out more on the Chamber’s events and sponsorship opportunities.
SICC – MOM Briefing on the Fair Consideration Framework, 14 January 2014
SICC was pleased to organise this session to facilitate the Ministry of Manpower’s (MOM) efforts to educate employers on the Fair Consideration Framework (FCF) and, in particular, the new jobs bank to be launched in mid 2014. Over 70 members participated.
The new jobs bank will be administered by the Workforce Development Agency (WDA) and will enable employers to access a large pool of Singaporean candidates. The jobs bank will also help the government to identify skills shortages among Singaporeans and facilitate the creation of national education and training programmes.
The key takeaways from the session include:
a) Upload their resumes or be guided to create a resume
b) Respond and apply to job advertisements online within the portal
c) Shortlist suitable job advertisements, track job application status. While there is no requirement for firms to retain interview and job offer records, it will be in the interest of the firms to do so to support their practices, if there are complaints of discriminatory hiring.
SICC is pleased that MOM will take its members’ suggestions and feedback on the new jobs bank. WDA will plan for industry engagement initiatives that will help employers better understand the jobs bank. WDA will provide more details closer to the launch of the jobs bank. Firms that wish to participate in the beta trial of the jobs bank can provide your contact details to: email@example.com.
MALAYSIA BUSINESS FORUM 2013 UPDATE
At the invitation of the Malaysian Investment Development Authority (MIDA), both SICC Secretariat and members participated in the annual Malaysia Business Forum held on 20 November 2013.
The key takeaways from the forum include the following:
Bilateral relations between Singapore and Malaysia
Gradual subsidy rationalization to ensure sustainability in Malaysia
Broadening Malaysia’s tax base and enhancing government revenues
Challenges faced by Singaporean businesses
Internship for the Next Wave of Talent
13 November 2013
Internship programmes run by our local tertiary institutions are a significant source of manpower for Singapore businesses. SICC and its member Temasek Polytechnic (TP) organised a sharing session on TP’s Student Internship Programme (SIP) on 13 November. 17 members from 7 business sectors attended.
TP offers both local and overseas internship programmes (OSIP). The SIP is mandatory for all final year students and the top 10% qualify for the OSIP which will allow them to work in emerging economies.
TP expects businesses to provide student interns with real roles so that they gain practical working experience and employability skills. The OSIP provides students with a valuable overseas working experience and helps nurture a broader outlook while encouraging students to be more independent and resilient. The funding for the OSIP works on a tripartite model, where TP funds the interns’ airfare and visa costs up to $1,000, the company provides accommodation and/or an allowance and the students take care of their own living expenses.
Depending on the diploma, both the SIP and OSIP may commence either in the first (March-August) or second (October-February) semester of the academic year and can last from 11 weeks to 6 months.
For more information on the student internship programmes offered by TP, please contact Ms Rowena Zheng at Rowena@tp.edu.sg or at tel 67806981.
Closed-door Dialogue with the Energy Market Authority on Energy Cost, Efficiency and Security
Marina Bay Sands
5 November 2013
The final instalment of SICC’s series of closed-door dialogues with the government this year featured an informative presentation by the Chief Executive of the Energy Market Authority (EMA) Mr Chee Hong Tat. 28 members, mostly senior executives from companies in energy-dependant industries such as petrochemicals, marine and offshore engineering and manufacturing, attended the dialogue.
In his presentation, Mr Chee highlighted the need to balance Singapore’s multiple energy challenges of achieving a secure and cost competitive energy supply through diversification, delivering a reliable and resilient energy supply to end users, and paying attention to the importance of environmental sustainability.
On the issue of energy costs, Mr Chee explained that unlike many countries in Asia, Singapore does not provide fuel subsidies. Another key driver is due to Singapore’s fuel mix, as more than 90% of our electricity is generated from natural gas and gas prices in Asia are currently much higher than Europe and North America. In most Asian economies, coal is a significant component of the fuel mix, e.g. 27% in Japan, 37% in Malaysia, 39% in South Korea and 78% in China. Mr Chee shared that compared to 2011, the electricity tariff in Singapore has dropped by more than 8% in real terms while wholesale electricity prices have fallen by more than 20%. This was brought about by new generation plantings and also an increase in gas supplies with the commencement of the LNG terminal in May 2013. Over the next few years, wholesale prices are likely to remain low due to increased competition in the electricity market.
Mr Chee highlighted that EMA has embarked on several initiatives in the past 2 years to further enhance Singapore’s energy supply security and cost competitiveness; including expanding the LNG terminal and enhancing the LNG import framework to enable Singapore gas buyers to access different gas supply sources as the global gas market evolves. EMA will also provide consumers with more options to manage their electricity costs through an expansion of retail contestability and the introduction of initiatives like demand response and the electricity futures market.
EMA will continue to explore alternative energy sources to diversify Singapore’s energy mix. The possibilities include renewable energy, coal and electricity imports.
The panel discussion with Mr Chee was moderated by SICC Board Director and Chair of the Chamber’s Petroleum and Petrochemical Committee, Mr Lee Tzu Yang. The session covered a wide range of topics that included balancing Singapore’s energy challenges of energy security, cost competitiveness and environmental sustainability, power sector resilience and emergency preparedness, strengthening Singapore’s gas supply system, status of the ASEAN Power Grid and nuclear energy in the region.
EMA is keen to engage with SICC members to obtain feedback on the above areas, including ideas to overcome carbon-related concerns associated with the use of coal as well as ways to further improve energy efficiency in Singapore. Members who are interested to share their thoughts may contact Ms Jasmine Ng or Ms Rohajirah bte Rohmadon at firstname.lastname@example.org or email@example.com.
2012-2013 Annual Report to Members
Please click on the image below to read the annual report which showcases the achievements of your Chamber in 2012/2013.
For an optimal viewing experience we recommend that you use Chrome or Firefox to access the link.
Thank you for your continued participation in Chamber committees and events.
Legal Services Group Inaugural Drinks Reception
SICC’s Legal Services Group held a drinks reception on Thursday, 7 November 2013. It was an opportunity for members from various law firms to network and ‘talk shop’ in a relaxed setting. Special thanks go to Nabarro LLP for hosting. Members like the idea of these informal sessions and the committee looks forward to welcoming more legal services members to future events.
Corporate Tax Filing Tips for Year of Assessment 2013 from IRAS
SICC CEO Conversation Series – Conversation with Mr K Shanmugam, Minister for Foreign Affairs and Minister for Law
Our latest SICC CEO Conversation Series took place on 25 October 2013. 24 CEOs from member firms representing nine industries participated in an inspirational closed-door dialogue session with Mr K Shanmugam, Minister for Foreign Affairs and Minister for Law. These events are always oversubscribed and the Chamber deliberately keeps the number of attendees small to facilitate a more informal and in-depth dialogue.
Members greatly appreciated the thought-provoking and candid responses from the Minister. The dialogue touched on domestic and geo-political issues as well as legal matters.
SICC is very grateful that Minister Shanmugam took the time to interact with CEOs from member firms and plans to continue similar dialogue sessions with other Ministers in 2014 and beyond.
SICC SPARK SERIES ON BUSINESS INNOVATION
SICC SPARK Series on Business Innovation – Operational Excellence through Innovation at PSA Singapore Terminals
8 October 2013
On 8 October 2013 54 members representing 14 industries attended the 4th SICC SPARK Series event on Business Innovation. The focus was PSA’s success story and how innovation lies at the core of its success. PSA very kindly hosted SICC members both at its HQ and during a tour of its Pasir Panjang Terminal.
In his presentation, Mr Ng Kok Cheong, Vice President (Container Logistics and Terminal Services), shared how PSA’s success has been driven by constant innovation to achieve greater efficiency, lower costs and better service and value for its customers. An early example of PSA’s innovation story is the development of flow-through gates to provide seamless processing of haulier traffic. These entrance gates to terminals were a world first and provide a faster processing rate of vehicles, IT was harnessed to reduce the time required for PSA’s customers to enter and leave its terminals. This innovation also led to a reduction of manpower for PSA.
Mr Eduardo Chakarian, Director of Monitor Deloitte moderated the subsequent Q&A discussion. Members were invited to provide their feedback or questions which led to a very lively exchange between PSA, the moderator and members.
After the presentation and Q&A, members were taken on a tour of the PSA Pasir Panjang Terminal including its Control Centre and Remote Crane Operations Centre. The Remote Crane Operations Centre is another showcase of PSA’s success in using innovation to improve productivity. The remote-controlled cranes are controlled by operators sitting in an office building rather than in the crane cabs. Each operator can handle up to six cranes in a safe working environment. This new working environment has also encouraged more women to take on the role of crane operators.
The event ended on a positive note as members achieved a good understanding of PSA’s constant innovation approach. PSA encourages all its staff to focus on doing things better, faster and cheaper. This robust structure of encouraging innovation contributes to the continued success of the organisation and its sustainability.
SICC SPARK Series on Business Innovation
Launched in November 2012, the SPARK Series on Business Innovation is an initiative of the SICC Industrialists Committee to encourage cross-industry learning by focusing on key aspects of business innovation chiefly, company culture, process and product improvement, greater operational efficiency and talent development.
SICC Closed-Door Dialogue with JTC Corporation
1 October 2013
20 members participated in this closed-door dialogue session with JTC Corporation initiated by the SICC Construction, Property & Real Estate Committee. The dialogue session attracted strong interest from members but the group was kept small to facilitate a more in-depth discussion with JTC.
Members were very impressed by the high level of engagement by JTC's Chairman Dr Loo Choon Yong and CEO Mr Png Cheong Boon. JTC is very keen to understand businesses’ concerns and to respond in the most pro-business manner possible. Members appreciated the opportunity to be heard. The open discussion focused mainly on land allocation policies and intensification strategies to support Singapore’s economic growth.
JTC stressed that in view of land scarcity in Singapore, the limited industrial land would have to be optimised based on the following broad guidelines:
JTC also shared that the Iskandar development would give Singaporean companies access to more land and provide opportunities for companies to scale up their operations outside of Singapore. Its proximity to Singapore also allowed for better management control.
Both SICC and JTC are very satisfied with the quality of the dialogue. The next step that JTC and SICC would like to take is to advance the dialogue to industry-centric discussions, beginning with the electronics industry.
JTC is also keen to hear your suggestions on the use of underground space by businesses. Interested members may contact Miss Jasmine Ng or Miss Rohajirah bte Rohmadon at firstname.lastname@example.org or email@example.com to register your interest.
Preview of the Singapore Sports Hub, 26 Sep
©Photos courtesy of National Stadium Club
On 26 September 2013 our members were treated to an exclusive preview of the Singapore SportsHub which is scheduled to open in April 2014. Singapore Sportshub will be a world class venue for elite athletes, large scale sports and entertainment events. Its socially inclusive design also allows amateur sports enthusiasts to enjoy its many facilities.
The venue for our event was the Experience Centre adjacent to the new National Stadium which showcases the luxurious corporate suites and premier seats managed by the National Stadium Club.
Members from 12 industries enjoyed a series of short presentations by representatives of World Sports Group, DP Architects and Arup on the philosophy behind the SportsHub’s vision, architecture and cutting edge engineering.
The night ended on a vibrant note, as Chamber members and secretariat staff mingled with SportsHub representatives over dinner and drinks.
Innovation Strategies in a Service-Driven Economy
19 September 2013
In the 21st century, innovation has become synonymous with business success. It is with this in mind that the Chamber invited Prof Herve Mathe, Dean of ESSEC Asia-Pacific to share with members his inputs and analyses about innovation strategies in a service-driven economy and how to manage innovation for today's organisations.
Peppering his engaging presentation with case studies and best practices by companies from various industries, Prof Mathe engaged and challenged the 25 participants to think out of the box and look beyond the rigid buying and selling a product or service; instead, businesses should innovate a memorable experience for customers, such that the experience translates into a buy-in and following.
His recommendations on steps to creation of value include understanding the market, continuously delivering relevant and efficient solutions, and addressing the compatibility of value creation goals.
SICC announces appointment of Mr Victor Mills
as its new Chief Operating Officer
Singapore, 24 September 2013
The Singapore International Chamber of Commerce (SICC) is pleased to announce the appointment of Victor Mills as its Chief Operating Officer with immediate effect.
Victor will be working closely with Phil Overmyer, Chief Executive, to continue raising SICC’s effectiveness as the voice of international businesses in Singapore connecting multinational corporations (MNCs), government-linked companies (GLCs) and home-grown companies across different industries.
Phil Overmyer said: "I am delighted to welcome Victor to his new role. I am confident that his enthusiasm and commitment will be of great benefit to SICC as we continue our work with members and government with the aim of strengthening Singapore’s position as a global business hub.”
Victor brings 30 years of commercial experience to SICC. He has worked for leading banks such as HSBC and Standard Chartered in a variety of roles and businesses. He has served institutional clients for 20 years based out of Singapore covering the south and Southeast Asian as well as the east African regions. He latterly spent more than 5 years leading market advocacy efforts for market participants in the Singapore securities business.
Commenting on his appointment Victor said: "SICC has an enviable reputation as an influential Chamber for 176 years and I look forward to working closely with Phil, my secretariat colleagues and the SICC Board to ensure that members’ needs continue to be met with consistent relevance and high quality service.”
Victor originally hails from Northern Ireland, U.K. and holds a B.A. (Hons) in History from The New University of Ulster, UK and a Master of Arts Area Studies: East European political science) from the University of London, UK.
He has been associated with Singapore for 28 years and is a proud Singapore citizen.
Director, Business Development/Corporate Communications
Tel: 6500 0960
SICC Members’ Networking Night
17 September 2013
District 10 Bar & Restaurant
Many thanks to our members for joining us at the Members’ Networking Night on 17 September at District 10 Bar & Restaurant. Thanks to good food, fine wines and excellent company, 44 members from 15 industries had a truly enjoyable evening. They relaxed with friends and made new ones as you can see from the pictures above.
Participation at our events is open to all employees of a member company; please contact us at firstname.lastname@example.org if you are interested to find out more on the Chamber’s events and sponsorship opportunities.
SICC GOVERNMENT ADVOCACY
SICC-MOM Closed-Door Dialogues for the Manufacturing and Services Industries
5 & 12 September 2013
Marina Bay Sands
In an extension to SICC’s annual closed-door dialogues with the Ministry of Manpower (MOM), this year’s dialogue comprised two sessions that focused on the twin pillars of Singapore’s economy – Manufacturing and Services.
The pace and magnitude of tightening of foreign manpower over the last two years has impacted SMEs severely. As a result, large companies, both foreign and local, have become concerned with potential project delays as SMEs may not deliver their products and services in time due to acute manpower shortage.
Feedback like this underlies SICC’s call to MOM to calibrate their policies according to different industries’ needs and challenges in hiring and retaining foreign workers, particularly for certain industries that are in need of skill sets, knowledge and experience not readily found among Singaporeans.
Participants at the two sessions engaged in active discussion with senior officials from the Ministry during the dialogue and over lunch. Topics revolving around the issue of foreign manpower cap versus economic trade-offs, mind-sets of locals, optimisation of human capital, and fair consideration for Singaporeans were discussed and debated.
This dialogue was initiated by the SICC Manpower and Productivity Committee which is one platform where members can engage across industries on manpower issues. The Committee is led by SICC Board Director Mr Jonathan Asherson who is also the Regional Director (SE Asia and Pacific) of Rolls-Royce Singapore Pte Ltd. SICC members interested to find out more about the Committee may contact Ms Jasmine Ng, Director, Government Relations/Trade Services at email@example.com or 6500 0973.
Please click here for past events organised by SICC
For further information, please contact
Ms Leanne Hwee
Tel: (65) 6500 0964,
Fax: (65) 6224 2785,