SAF Yacht Club Annual Report 2024

FY 2023/2024 SAF YACHT CLUB

ANNUAL REPORT FOR ANNUAL GENERAL MEETING 2024

BOARD OF GOVERNORS

CHIEF OF DEFENCE FORCE

VADM AARON BENG YEO CHENG

CHIEF OF ARMY

MG NEO CHIN WEE DAVID

CHIEF OF NAVY

RADM SEAN WAT JIANWEN

CHIEF OF AIR FORCE

MG KELVIN FAN SUI SIONG

DIRECTOR, MILITARY INTELLIGENCE

MG LEE YI-JIN

CHIEF OF STAFF, JOINT STAFF / SAF INSP-GEN

BG GOH PEI MING

HEAD, AIR ENGINEERING & LOGISTICS DEPT / CHAIRMAN MC SEMBAWANG COUNTRY CLUB

BG TENG CHOON HON, ADRIAN

COMMANDANT, SAFTI MI/ CHAIRMAN MC TEMASEK CLUB

BG TAN TIONG KEAT

HEAD NAVAL OPERATIONS / CHAIRMAN MC SAF YACHT CLUB

RADM LIM KIAN HUA AUGUSTINE

COMMANDER 9TH DIVISION / CHIEF INFANTRY OFFICER / CHAIRMAN MC THE CHEVRONS

COL FAIROZ BIN HASSAN

DIRECTOR, LEGAL SERVICES

MR LEONG KWANG IAN

DIRECTOR, DEFENCE FINANCE

MR NG KIN YI

DIRECTOR, MANPOWER

MR SHAUN GOH

HEAD, JOINT LOGISTICS DEPARTMENT

ME7 SREEKANTH SHANKAR

HEAD, JOINT MANPOWER DEPARTMENT

COL YEO LIP KHOON

HEAD, JOINT PLANS AND TRANSFORMATION DEPARTMENT

COL CHONG SHI HAO

SPONSORING AGENCY FOR SAFYC, HEAD NAVAL PERSONNEL

COL ANG JENG KAI

MANAGEMENT COMMITTEE

VICE COMMODORE COL Ang Jeng Kai

COMMODORE RADM Augustine Lim

REAR COMMODORE COL Loh Woon Liang

HONORARY SECRETARY SLTC Allan Ng

ASST HONORARY SECRETARY Mr Jaya Sankaran

HONORARY TREASURER Mr Ian Chua

ASST HONORARY TREASURER ME5 Ng Wee Han

CAPTAIN OF SAIL Mr Ken Yap

CAPTAIN OF POWER Mr Gerald Heng

COMMITTEE MEMBER Mr Nicholas Cheong

COMMITTEE MEMBER Mr Eric Emmanuel Tan

COMMITTEE MEMBER Ms Isabelle Wong

COMMITTEE MEMBER Mr Alan Pang

COMMITTEE MEMBER Mr Ricky Sng

CO-OPTED MEMBER Mr Ooi Yinn Yeong

CO-OPTED MEMBER ME7 Tan Lu Pin

CO-OPTED MEMBER LTC Alvin Tan

CO-OPTED MEMBER SWO Seck Wai Kwong

HONORARY LEGAL. ADVISOR MAJ(NS) Ng Shi Yang

COMMITTEE MEMBER Mr James Teo

CO-OPTED MEMBER Mr Jason Chong

CONTENTS

COMMODORE'S MESSAGE

1

CAPTAIN OF SAIL REPORT

3

CAPTAIN OF POWER REPORT

9

HONORARY TREASURER FINANCIAL REPORT

11

AUDITED FINANCIAL STATEMENTS & OTHER FINANCIAL INFORMATION

13

MINUTES OF ANNUAL GENERAL MEETING 2023

50

BYE-LAWS

APPENDIX 1

CONSTITUTION

APPENDIX 2

COMMODORE'S MESSAGE Dear Valued Members, It has been a privilege to serve at SAF Yacht Club over the past year, and I am honoured to be addressing all of you once more as the Commodore of our esteemed Club.

In last year's message, I shared that the Club was making sturdy progress, capitalising on our refurbished Clubhouse and new offerings. Over the past year, we have continued to strive towards strengthening our financial standing, establishing our position in Seasports and Boating, and enhancing the nautical experience of our 700-plus Member community. There were notable achievements, as well as valuable lessons learnt amidst the headwinds we encountered. Here are some key highlights: The Club's financials remain robust. We ended FY23/24 with a revenue of S$4.05 million, buttressed by a healthy Membership base and strong support for our Marina offerings. Looking ahead, we will continue to strengthen our revenue streams while keeping a close watch on the expected economic and business challenges. We will also proactively and holistically address rising costs and continue to manage our finances prudently.

Beyond fiscal performance, we have continued to strengthen our position in Seasports. The Club had the distinct pleasure of co-hosting the Singapore Regatta with Changi Sailing Club in February 2024 for the first time, during which the prestigious Lipton Cup Trophy was presented. The Club also participated in and hosted several regional regattas, such as the Sing-Siam Regatta, Friendship Regatta and Qingdao International Regatta. I am proud that our sailors performed well at these events.

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Enhancing our Members’ experience is paramount and we have been working on some areas. We have refurbished some of the Club's physical amenities such as the Poolside Lounge, marina ramp, and rooftops of both East and West wings; as well as purchased new boats and a tractor. All these were aimed at improving the functionality and comfort of our facilities. The Club also welcomed a new bistro (Eighty Nine Bistro) and a Halal restaurant (GEM by the Sea) in May and October 2024 respectively, enriching our food and beverage offerings. We have also continued to pursue activities that create memorable experiences. These include our signature event, Carnival by the Straits, in June 2024, lunch outings to neighbouring kelongs, and Members appreciation events. We look forward to receiving more feedback on how we can strengthen the nautical community at our Club.

We have kept pace with our Green initiatives. Our Club's solar panels were operationalised earlier in the year, and we have started to harvest our own power. We are also working towards a Green-Mark Certification to raise our sustainability standards. We will continue to explore other initiatives to drive long-term sustainability, expand our corporate social contributions, and strengthen Members engagement.

Overall, we fared well despite challenges. This was only possible with the dedication of the Management Committee and Management Team, as well as the unwavering trust and support of all our Members. I am excited about the future, and my team and I are committed to delivering on the key objectives for FY24/25 and beyond.

Once again, I thank you for your steadfast support, and for being a part of our vibrant nautical family. I wish all a fulfilling year ahead!

RADM Augustine Lim Commodore

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CAPTAIN OF SAIL REPORT Sailing Sub-Committee Mr Yap Kok Ken

Captain of Sail

Mr Chow Yan Biau

Deputy Captain of Sail

Mr Low Weng Kong

Committee Member

Mr Yuen Weng Thye

Committee Member

Mr Cao Yueming

Committee Member

Mr Nicholas Cheong

Committee Member

Mr Kuah En Shyang

Committee Member

GET KIDS AFLOAT (GKA) Our Get Kids Afloat (GKA) is a popular course where we introduce youngsters to sailing and serves as a gateway for new sailors to join our sailing programme. It received a total of 179 young participants over 17 batches. 28% were family of Members, while 72% were non-Member registrations. It is hoped that from among these keen sailors, we can develop the next generation of national sailors, as we have done in the past.

BASIC SAILING COURSE The Club has conducted 10 Basic Sailing Courses (non RSN), where 85 participants learnt the basics of sailing. 13.6% of the participants were Members, and 86.4% of the participants were non-Members.

SAILING LEVEL 1 COURSE A total of 8 Sailing Level 1 Clinics (non RSN) were conducted which saw 86 participants obtaining their Sailing Level 1 proficiency. 10.6% of the participants were Members, and 89.4% of the participants were non-Members.

COMPETENT CREW COURSE The Competent Crew Course introduces keelboat sailing and the basics of spinnaker work to the participants. A total of 4 course were conducted with 12 participants completing the 3-day course. 8.3% of the participants were Members, and 91.7% of the participants were non-Members.

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19TH SAFYC REGATTA The 19th edition of our SAFYC Regatta was held on 1 to 2 April 2023 for the Dinghy Class and 29 to 30 April 2023 for the Optimist class. Shifty winds graced us on all 4 days. The regatta concluded with 6 races for the Dinghy event, and 3 races for the Optimist class.

RACE RESULTS Dinghy ILCA 7 1st Justiin Ang 2nd Omar Aguer 3rd Svyatoslav Garal

ILCA 6 1st John Lo Tiam Walker 2nd Zachary Woo Shi Jay 3rd Jun Ray Fong

ILCA 4 (Open) 1st Keanan Tan 2nd Isaac Goh 3rd Kiera Marie Carlyle 4th Ethan Teo Yuan Xin 5th Austin Yeo Jia Yu

ILCA 4 (Girls) 1st Kiera Marie Carlyle 2nd Elisha Lim Yu Ting 3rd Sarah Yong

ILCA 4 (14 y.o and under) 1st Austin Yeo Jia Yu 2nd Ikuto Mori 3rd Isaac Yew Poon Weng Optimist Gold Fleet Open 1st Mikaela Rae Ng 2nd Sean Lum Kok Wei 3rd Lucas Cao Zhi Hong 4th Germaine Sim 5th Nicole Ashley Quek

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Silver Fleet Overall 1st Kaelyn Dayna Soh Zhi Yi 2nd Julian Petracco 3rd Benjamin Finn Augenstein 4th Gerome Sim 5th Gaitan Sullivan 6th Joash Kok Jit Yin 7th Joshua Khoo Zhuo Xi 8th Amadine Zoe Pitsilis 9th Jade Yeh Zi Yu 10th Angela Huang Fei-Er

SING-SIAM REGATTA The Sing-Siam Regatta was hosted by SAF Yacht Club from 20 to 25 April 2023, a year after it was hosted by the Royal Thai Navy in Sattahip. Practice races were held on 21 April with the official regatta taking place from 22 to 23 April. The Club also brought our Thai friends for a 1 day R&R on 24 April, and bid them farewell at the airport on 25 April.

RACE RESULTS Dinghy ILCA 7 (Master and Above) 1st Yeo Ngak Hoe 2nd CDR. Nitasana Rodnoun 3rd LDR. Chayapol Chootagasut

ILCA 7 (Open) 1st Justiin Ang 2nd Yeo Ngak Hoe 3rd PO.1 Prakasit Hongpradap 4th Michel Devos 5th CPO.1 Juckrawut Keaw-on

ILCA 6 (Open) 1st Kanapan Pachatikapanya 2nd Sarah Seow 3rd Callan Choweo Seah 4th Yanakamin Pachatikapanya 5th PO.1 Narongsak Promsawat

ILCA 4 (Open) 1st Gabi Oh 2nd Jade Low 3rd Cleo Seah 4th Jewel Ang 5th Zachary Low Zhi En

Optimist (Open) 1st Nicole Ashley Quek 2nd Pinchanok Klaysomboon 3rd Tiago Cheng De Villemor Salgado 4th Lyric Li Yu Xuan 5th Josh Low 6th Teekatat Danpratum 7th Alyssa Wong 8th Tan Herng Yee 9th Julian Petracco 10th Pakornkiat Chaiya-O-Cha 46th SINGAPORE LASER OPEN The 46th Singapore Laser Open was held on the 2 to 3 December 2023. Both dates saw a late start due to light and shifty winds. Nevertheless, 4 races were completed for the ILCA 6 and 7 fleets, and 3 races were completed for the ILCA 4 fleet.

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RACE RESULTS ILCA 7 (Open) 1st Balazs Vincze 2nd Cameron Hunter 3rd Rohit Behl

ILCA 6 (Open) 1st Kenan Tan 2nd Joshua Cheong 3rd Jarrod Toh

ILCA 4 (Open) 1st Austin Yeo Jia Yu 2nd Aurick Leow You Shan 3rd Ian Goh

ILCA 4 (13 y.o. and under) 1st Ikuto Mori 2nd Zachary Wong Wei Kai 3rd Mildred Wong

ILCA 4 (15 y.o. and under) 1st Austin Yeo Jia Yu 2nd Aurick Leow You Shan 3rd Ian Goh

SINGAPORE REGATTA The 3rd edition of the Singapore Regatta took place from 16 to 18 February 2024.

As a co-organiser, SAF Yacht Club was honoured to host the Skipper’s Briefing and Opening Ceremony. The Club was also happy to be involved with providing wet berthing for the participating crafts and in the running of Day 1 of the event – a Passage Race to Deman Shoal before heading eastward.

BI-MONTHLY TROPHY RACE The Bi-Monthly Trophy Race is a 6-series regatta spread over the calendar year.

The rankings are based on a low point scoring system accumulated over the series with 1 discard for the entire regatta. The 2024 BTR started with 5 boats, with one series remaining on 9 November 2024. The current placings of the competition are Millenium 2, Premium Cru 1 and Chope ranking from 1st to 3rd respectively.

OVERSEAS REGATTAS With more relaxed travel borders in 2023, the Club was happy to be able to attend several overseas regattas by invitation.

FRIENDSHIP REGATTA The Friendship Regatta is a collaborative effort between 4 Sailing Clubs, Busan Sailing Federation, Fukuoka Junior Yacht Club, Shanghai Rowing Canoeing Yachting Association, and SAF Yacht Club, where the Clubs take turns to host the regatta. It is through this international collaboration that sailors were able to mingle in a competitive yet friendly setting.

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The Friendship Regatta 2023 was graciously hosted by the Fukuoka Junior Yacht Club from 5 to 8 August 2023. Our Club sent 5 Sailors, a Coach, and a Team Manager to participate in this regatta.

Sailors: Axl Tan Yi En Benjamin Finn Augenstein Joshua Khoo Kaelyn Dayna Soh Zaid Mohamad Nordeen Bin Jaffar Sadik The weather was unfamiliar to our sailors, with temperatures reaching as high as 42°C and winds blowing up to 17 knots.

RACE RESULTS A Division 4th Axl Tan Yi En 6th Benjamin Finn Augenstein

B Division 1st Kaelyn Dayna Soh 5th Zaid Mohamad Nordeen Bin Jafar Sadik 7th Joshua Khoo

QINGDAO INTERNATIONAL YOUTH REGATTA The Qingdao International Youth Regatta was held from 9 to 17 August 2023.

This event is part of the Qingdao International Sailing Week and Qingdao International Marine Festival. The event aims to promote the development of marine sports through the exchange of sailing.

SAF Yacht Club was invited to participate in this regatta, along with other countries and provinces of China. The Club sent 6 Optimist Sailors, 2 ILCA 4 Sailors, a Coach, and a Team Manager to participate in this event.

Sailors (Optimist): Caleb Cao Zhixuan Elijah Ong En Ze Julian Petracco Kayden Tan Yi Kai Kevin Ho Tiago Cheng De Villemor Salgado

Sailors (ILCA 4): Cleo Seah En Rui Jewel Ang Zhi Shan

The sailors faced challenges with unfamiliar tidal streams and winds influenced by the neighbouring islands.

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RACE RESULTS Gold Group 6th Kevin Ho 11th Tiago Chang De Villemor Salgado 26th Elijah One En Ze 34th Kayden Tan Yi Kai 35th Julian Petracco ILCA 4 (Girls) 4th Jewel Ang Zhi Shan 8th Cleo Seah En Rui

Mr Yap Kok Ken Captain of Sail

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Silver Group 16th Caleb Cao Zhixuan

CAPTAIN OF POWER REPORT Powerboat Sub-Committee Mr Gerald Heng

Captain of Power

Mr Eric Emmanuel Tan

Member

Mr Ricky Sng

Member

Mr Jaya Sankaran

Member

Mr Alan Pang

Member

Mr Benjamin Leong

Member

Ms Isabelle Wong

Member

The Powerboat Sub-Committee's main focus is as follows: 1. To promote power boating as a hobby, sport or lifestyle pastime to Members and general public.

2. To conduct PPCDL courses to train boating enthusiasts in preparation for the PPCDL test.

3. To promote boating and fishing in and around the waters of Sembawang, Seletar, Punggol and Changi.

4. To encourage Boat ownership among Members and general public.

POWERED PLEASURE CRAFT DRIVER'S LICENSE (PPCDL) COURSES SAFYC continues to be the premier training centre for the Powered Pleasure Craft Driver's License (PPCDL) course in Singapore. The Powerboat SubCommittee has continued to ensure highest quality of training by our keen instructors to uphold the reputation of the Club. We have conducted a total of 34 PPCDL courses with 328 trainees. All PPCDL instructors at SAFYC are accredited

by MPA to conduct PPCDL lessons. The positive feedback from our PPCDL trainees and consequent word-of-mouth publicity is a main source of strength in this area. The high pass rate and consistent referrals are testaments to the professionalism and enthusiasm of both the instructors and staff of the Club.

The Powerboat Sub-Committee wishes to express our gratitude to all our instructors and staff for their unwavering dedication, professionalism and support in the administration and conduct of PPCDL lessons.

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BOATING WORKSHOP As part of the Carnival by the Straits held on 1 June 2024, the Powerboat SubCommittee and the Sailing Committee jointly organised a boating workshop on that day. Two talks were conducted. RADM(Ret) Giam Hock Koon and his wife, Shiau Yean, shared their cruising experience in the North Atlantic and Mediterranean Sea - "From Dreams to Reality". Mr SC Yong, Russell gave a brief introduction to Coastal Navigation with paper charts. The workshop was well received and the Club received much positive feedback that such workshop was interesting and educational.

KELONG LUNCH (SMITH MARINE KELONG OFF PULAU UBIN) A Kelong lunch was organised on 24 August 2024 at Smith Marine Kelong located off Pulau Ubin. A total of 12 participants took part. 5 Members drove their jet ski while the rest went on the Club's boat, Stargazer, to cruise and enjoy the sights along the East Johor Straits. Both groups then gathered at the kelong for a sumptuous lunch. Some Members also bought fresh fish from the kelong to bring home.

EXCURSION TO RJYC - CRUISE CUM KELONG LUNCH An excursion was organised to the Royal Johor Yacht Club (RJYC) on 29 September at the latter’s invitation. A total of 20 Members and guests participated. Participants toured the RJYC facilities and went for a boat cruise cum kelong lunch at "Kong Kong” Kelong located at the Johor River. The visit also included an exchange of burgees between SAFYC and RJYC. CONCLUSION In the coming year, the Powerboat Sub-Committee will continue to enhance the boating experience by organising activities that align with the common interests of our Boaters. We welcome suggestions and ideas from SAFYC Boaters and Members to help improve engagement within the SAFYC boating community.

I would like to formally express my appreciation for the steadfast support from all Members, staff and the Management Committee of the Club, as we endeavour to serve you better in the upcoming term. A special mention and big thank you to Allan Mok, our Marina Manager and his Marina team for their unwavering support of our Boaters. I also extend my thanks to all Powerboat Sub-Committee Members—Eric, Ricky, Jaya, Alan, Benjamin, and Isabelle—for their active participation and for contributing their time, resources, and efforts.

Mr Gerald Heng Captain of Power

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HONORARY TREASURER FINANCIAL REPORT

Finance Sub-Committee Mr Ian Chua

Chairman

ME5 Ng Wee Han

Committee Member

ME6 Willis Tarn Rui Seng

Committee Member

INTRODUCTION Financial Year 23/24 had performed modestly well despite a downturn in the economy. Revenue streams were not as robust as in the last financial year. Still, there were marginal increases in Membership subscription revenues due to the increase in subscription rates at the commencement of FY23/24. The Club’s Marina and boat storage income had also increased slightly over the last financial year because of continuing support-tasking and boat-chartering derived from Seatrium, and the arrival of new boaters at our dry/wet berths, coupled with increase in petrol sales to boaters.

Seasports performance was not up to expectation due to a slow down in take up rate for our Seasports courses and training programmes; particularly, experiencing a shortfall in enrolment targets for our CCC/BSC/GKA courses and continuation of training programmes for our young sailors. However, the good news is there was a surge in Regatta event income, and with the Club's new venture into selling of sailboats imported from our supplier from China to Members, these had boosted our Seasports revenue streams, mitigating the decline in enrolment in our training courses.

The economic downturn resulted in one of our tenants (a Chinese F&B outlet) terminating the tenancy rental agreement, slowing down the pick up on private/corporate events rental held at the Club, resulting in the drop of rental income and events’ revenue. Despite the challenges faced in FY23/24, the Club remained steadfast and resilient to the slow down of the economy, registering a slight decline of only 1.4% (or S$58k) in overall total income and achieved a net cash profit of S$279k (after tax) before depreciation and amortisation.

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FINANCIAL PERFORMANCE FY23/24 For the financial year ending on 31 March 2024, the Club's gross income and expenditure were S$4,057,580 and S$3,621,182 respectively. Considering depreciation and amortisation, the Club registered a net operating surplus of S$80,403.

The Club saw a decrease in revenue by 1.4% over the last financial year. The breakdown of the charges in the Club's key revenue items are as follows: Membership and Events decreased by 1.1% Marina and Boat Storage increased by 1.9% Tenants Income decreased by 2% Seasports and activities decreased by 8% LOOKING AHEAD In the year ahead, the Club will continue to face challenging business conditions due to the bleak economic outlook, evergreen competition from other yacht clubs and social service clubs, as well as rising business costs. However, the Club will continue to evolve by tapping into new channels and resources to improve our existing business models and enhance our revenue streams, while continually operating our businesses in a cost-effective manner. The Club will also continue to embark on capital investments in the Club facilities from timeto-time to ensure that Members enjoy high quality facilities and services at reasonable rates. Moving forward, it is vital that the Management team and Members of the Club continue to strengthen our symbiotic relationship and cooperate to promote the Club, attract new Members, and participate actively in the Club's activities. Together, we can continue to project SAF Yacht Club as a quality sailing and yachting club in Singapore.

Mr Ian Chua Honorary Treasurer

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MINUTES OF ANNUAL GENERAL MEETING 2023

MINUTES OF ANNUAL GENERAL MEETING 2023 HELD ON 25 NOVEMBER 2023 AT 1430HRS

Present RADM Augustine Lim

Commodore

COL Ang Jeng Kai

Vice Commodore

COL Loh Woon Liang

Rear Commodore

LTC Allan Ng

Honorary Secretary

ME6 Willis Tarn

Honorary Treasurer

Ms. Luanne Tan

Assistant Honorary Treasurer

Mr. Eugene Wong

Captain of Power

16 Ordinary Members

Member

Item

Discussion

1

Introduction

1.1

After two adjournments, Honorary Secretary called the meeting to order at 1430hrs with 16 Ordinary Members present to form the quorum.

1.2

Commodore RADM Augustine Lim thanked the Management Committee and Management Team for the contributions made in FY2022/2023. He also thanked members for their trust and support which were integral to the Club establishing a steady footing following recent redevelopments. With that, the club was able to have the capacity to plan better for the subsequent FY. These would be shared in later part of the AGM.

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2

Confirmation on Minutes of 2022 AGM

2.1

The minutes of the AGM 2022 held on 16 Nov 2022 were confirmed without amendments. (a) Proposer: Mr Gerald Heng (b) Seconder: Mr Nicholas Cheong

3

Updates on FY2022/2033 – Vibrant Club and Positive Experience for all members

3.1

Successful Conduct of Major Events. Honorary Secretary highlighted the major events held in FY2022/2023. These include CNY Dinner and Lion dance, Carnival By the Straits, Kids Castaway Camp, Kelong Lunch, RSN Museum Visit and the members get together sessions. Honorary Secretary shared that the club was popular for private events such as corporate team building, wedding etc.

3.2

New Facilities and Refinement to Offerings. Honorary Secretary highlighted the new member’s facilities introduced in FY2022/2023, such as the pool table and coffee machine at members’ lounge, as well as the newly opened F&B Kin Kao Mai and Gills, which provides prawning and fishing activities and operates 24 hours. Honorary Secretary also assured members that a separate entrance for Kin Kao Mai and Gills was installed for safety & security reasons. He further shared that Club members enjoy special rate. Honorary Secretary then highlighted that a Memory Lane was installed in the members’ lounge based on members’ feedback.

Lastly, Honorary Secretary briefed on the capital investments and facilities improvements for this FY, which included redevelopment of the Marina Wet Berth expansion facilities, purchase of IT and clubhouse equipment, and banana boats.

3.3

Healthy Recruitment. Honorary Secretary updated that the Club recruited 128 new members in year 2023 via various roadshows.

3.4

Leader in Seasports Excellence. Honorary Secretary provided the number of sea sports courses and sailing regatta conducted and shared the excellent performance of SAFYC sailors during these regattas. He was also proud to share that one of our members – Ms Keira Carlyle won the bronze medal for 19th Asian Game.

4

FY2022/2023 Financial Report

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4.1

Honorary Treasurer presented the Financial Report for FY2022/2023, which was part of the Annual Report.

4.2

He reported that for FY2022/2023, the Club registered an increase in net Operating surplus of $374K, after considering depreciation and amortization.

On income generation, with higher demand for the berthing spaces and our MICE facilities, the Club achieved higher income then previous FY. On expenditures, the Club registered a slight increase vis-a-vis budgeted.

4.3

Honorary Treasurer reported that the financial summary had been prepared based on audited statement of income and expenditures and the audited balance sheet for financial year ending 31 Mar 2023 was audited by PG Wee Partnership LLP.

5

Looking Ahead to FY2023/2024

5.1

Honorary Secretary shared that new tractor and powered boats would be available in new FY.

5.2

Solar Panels System. Honorary Secretary provided the status of the Solar Panels System project. Installation was completed in Jun 2023. It would be operational by Dec 2023 upon the approval from Singapore Power to turn on panel system.

5.3 New Tenants. Nanyang Seafood would be onboard in 1st quarter of 2024. They would be offering Halal selection.

5.4 Activities and Events. Honorary Secretary highlighted the following activities and events for the new FY. 1. Members’ Treat Day 2. Bi- yearly Members Get together 3. Festive Events 4. Kids Castaway Camp 5. Members’ party 6. CBTS 2024 7. Regattas 8. Boaters’ events 6

Any Other Matters

6.1

By Member – Mr Paul Hee Mr Hee raised the following matters:

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A) Boat Rescues Arrangements He believed all boaters would be pleased that the club published Club Boat Rescue policy / arrangements, if any, to all boaters. Just like AA renders help to motorists for vehicle breakdown recovering service. This would be a great help to our boaters in time of needs.

B) Members Lounge It would be good if the management could relocate the Pool Table out from the Members Lounge to another location. It was noisy and very disturbance, especially children who didn’t know the game. Just throwing the billiards balls on Pool Table and created nuisance in the Members Lounges.

The Club thanked Mr Hee for his feedback and replied on the following: A) We would publish the boat rescue arrangement in the Letter to Boaters update as well as the Club's Notice Board. Do note that there would be a nominal fee for sea rescue to recover the cost of fuel and manpower and that this service would only be available during working hours amongst other terms and conditions. After working hours, the boaters might wish to contact Kairos Strategic P/L for rescue. For emergency case, boaters were reminded to anchor away from the sea traffic and seek help from MPA and PCG. GM replied that at present, Club used Facebook, Instagram & Telegram to communicate with members. He urged members to download Telegram and add SAFYC to receive updates of Club happening.

B) The Club had received feedback of members abusing the pool balls and cue sticks at the members’ lounge. We had since kept the balls and cue sticks at the front desk office. Members who wish to draw the balls and cue sticks may do so from 9am to 6pm. Members were also reminded to return the balls and cue sticks upon usage of the pool table facility.

6.2

There were no further questions from the floor.

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7

Management Committee 2023/2024

7.2

Honorary Secretary informed members present that at the closing date for nominations of MC members, only six nominations were received. Hence, no election was required. The six newly elected members to the Management Committee 2023/2024 were: S/N Candidate

7.2

1

Mr Nicholas Cheong

2

Mr Tan Hai Peng, Eric Emmanuel

3

Mr James Teo

4

Ms Isabelle Wong

5

Mr Alan Pang

6

Mr Ricky Sng

Honorary Secretary announced the office-bearers appointed and approved by the Board of Governors for Term 2023/2024: S/N Title of Office

Sal.

1

Commodore

RADM Augustine Lim

2

Vice Commodore

COL

Ang Jeng Kai

3

Rear Commodore

COL

Loh Woon Liang

4

Honorary Secretary

LTC

Allan Ng

5

Asst. Honorary Secretary

Mr

Jaya Sankaran

6

Honorary Treasurer

Mr

Ian Chua

7

Asst. Honorary Treasurer

ME5

Ng Wee Han

8

Captain of Power

Mr

Gerald Heng

9

Captain of Sail

Mr

Ken Yap

10

Legal Advisor

MAJ (NS)

Ng Shi Yang

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Management Committee 2023/2024

7.3

7.4

Honorary Secretary informed members present that five people would be coopted to support the Management Committee 2023/2024.

S/N

Candidate

1

ME6 Tan Lu Pin

Audit

2

Mr Ooi Yinn Yeong

Audit

3

LTC Alvin Tan

Recruitment

4

ME6 Ong Teck Lim

Engagement

5

Mr Jason Chong

Infrastructure & Rejuvenation

Commodore announced that the departure of the following committee and thanked them for their services and valuable contributions.

S/N Title of Office

Sal.

Management Committee 2023/2024

1

Vice Commodore

COL

Justiin Ang

2

Honorary Treasurer

ME6

Willis Tarn

3

Assistant Honorary Treasurer

Ms

Luanne Tan

4

Captain of Power

Mr

Eugene Wong

5

MC Member

Mr

Edmund Toh

8

End of Meeting

8.1

In closing, Honorary Secretary thanked all members present for their attendance.

With no further matters, the AGM 2023 was adjourned at 1453hrs.

ANNUAL REPORT 2024 | 55

SAF YACHT CLUB CLUB BY-LAWS (ISSUED UNDER THE AUTHORITY OF THE MANAGEMENT COMMITTEE)

Updated 28-March-2022

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