SAF Yacht Club: Annual Report for Annual General Meeting 2022

ANNUAL REPORT for Annual General Meeting 2022

BOARD OF GOVERNORS

CHIEF OF DEFENCE FORCE

CHIEF OF ARMY CHIEF OF NAVY

CHIEF OF AIR FORCE

DIRECTOR, MILITARY INTELLIGENCE

CHIEF OF STAFF, JOINT STAFF

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

COMMANDANT, SAFTI MI / CHAIRMAN MC TEMASEK CLUB

CHAIRMAN MC SAF YACHT CLUB

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

DIRECTOR, LEGAL SERVICES DIRECTOR, DEFENCE FINANCE

DIRECTOR, MANPOWER

HEAD, JOINT LOGISTICS DEPARTMENT

HEAD, JOINT MANPOWER DEPARTMENT

HEAD, JOINT PLANS AND TRANSFORMATION DEPARTMENT

LG ONG SU KIAT MELVYN

MG DAVID NEO CHIN WEE

RADM AARON BENG YAO CHENG

MG KELVIN KHONG BOON LEONG

BG LEE YI JIN

BG FREDERICK CHOO

ME8 YAP SOON HAW TIMOTHY

BG TAN TIONG KEAT

RADM AARON BENG YAO CHENG

BG XU YOU FENG

MR LEONG KWANG IAN

MR NG KIN YI

MR HO CHIN NING

COL KEITH JUDE HO CHI MIN

COL JOSEPH PEH CHIN LEONG COL CAI DEXIAN

MANAGEMENT

COMMODORE’S MESSAGE

Dear Valued Members,

The Management Team and Management Committee has been working hard to capitalise on our new facilities and the improved situation as we emerge from COVID 19. I think we have been making progress and I am grateful for the hardwork of my colleagues from the Management Committee and Management, and the support of all our Members. One positive indicator is our Club’s improved financial standing. For FY 21/22, we are pleased to report a healthy growth of 22.7% in revenue, this is due contributed by the continuous high take up rates for our seasports courses as well as higher membership sign ups.

But beyond fiscal numbers, our goal is to enhance the SAF Yacht Club experience for all our Members. In the area of seasports, the Club bought a new fleet of Laser Pico boats for our Members to charter. These boats enjoy a great reception with many Members chartering it to sail with their loved ones and family members. In addition, these boats are used for our Basic Sailing Course to accommodate the overwhelming number of participants signing up for the course. Looking ahead, we plan to resume our overseas exchange programmes starting with the Sing Siam Regatta in November 2022 at Sattahip, Thailand.

With the expansion of the wet berths completed, we have fully completed upgrading our facility. We are now able to offer more berthing space and accommodate bigger boats. We have also replaced the aging pontoons with new decking, and provided new dock boxes as well as new water and electrical pedestals to deliver a better nautical experience for our boaters.

With the easing of social gathering restrictions earlier this year, the Club has seen an uptake of private and corporate events such as wedding banquets, birthday parties, corporate seminars, and company team buildings. We are also bringing back our signature event, Carnival By The Straits 2022 which will happen on 10th December 2022. Mark your calendar and I hope to see all our Members there.

Lastly, I would like to thank my fellow Management Committee, Sub Committee Members, and Club Management Team for their immeasurable dedication, as well as

our Club Members, your families and friends for the continued support, contribution, and active participation. We will continue to strive to build a vibrant nautical lifestyle community in SAF Yacht Club.

RADM Aaron Beng Yao Cheng Commodore

CLUB MANAGEMENT REPORT

INTRODUCTION

The upgrading and expansion of the Marina wet berth have recently been completed and this will give us an additional 19 wet berth spaces for boats up to 45ft. In addition, we have replaced the aging pontoons with new decking, and provided new dock boxes as well as new water and electrical pedestals.

In our efforts to go green, the installation of solar panels is next on our list and is expected to be completed by the second quarter of 2023. The Management Committee and our Management Team are working side by side to ensure steady improvements of the Club over time.

SEASPORTS & POWER BOATING EXPERIENCE

Our signature Keelboat Regatta, Horsburgh Challenge, ran its 17th challenge during the first quarter while our ranking Dinghy and Optimist regattas were held in the second quarter of 2022. The ever popular Bi Monthly Trophy Race also saw a big number of participants, some of them from Changi Sailing Club. We also saw great interest in our sailing courses where many of the courses were fully booked. We are also anticipating the upcoming Sing Siam Regatta which will be held in Sattahip, Thailand, this year. We also saw a staggering number of signups for our PPDCL course north of 550 participants. As travel and overseas boating trips were put on hold due to the Covid 19 restrictions set out by the authorities, the Committee was focused on cultivating a growing boating community. The PPDCL Immersion Course, in collaboration with Kairos, was launched in December 2021 to provide boaters with PPCDL more in depth knowledge of seamanship as well as navigation.

MEMBERSHIP SERVICES

We continue to see a steady growth of new membership types for various nautical interests since its introduction 2 years ago. With our completed redevelopment projects and new membership promotions in line, we will be working towards targeting more Berthing Members for the next year.

SOCIAL EVENTS & MICE EXPERIENCES

With Singapore stepping out of the pandemic restrictions in early 2022, we see a steady stream of requests and events held at our facilities. The Lazarus ballroom and Poolside lounge are booked for various parties almost through all weekends. SAFYC remains a hot favourite venue for Weddings and Solemnisations. We thank our Members for your kind patience with us, especially during times we need to close some of the facilities to accommodate these events. We commit to minimize inconvenience to our Members moving forward with events planning and sales.

CONCLUSION

Looking forward, the Management aims to strive to keep the Club at the forefront of the sea sporting arena. We will continue to address the interests and needs of all areas of the Club’s operations and activities. More effort will be put in to foster a greater Club spirit through activities, courses, and dedicated staff. Our Management Team would like to do a big shout out of appreciation and thanks to the many Members who have supported the Club. A big Thank You to our Corporate Partners for their kind support and generosity. Last but not least, a Huge Thanks to the Management Committee and the various Sub Committees for their valuable contributions and guidance. We look forward to seeing everyone back in the Club to help us foster the family like community that we have all missed through the pandemic.

Teo Wee Chin General Manager

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 Steven Ng Yong Teng Committee Member

Mr Nicholas Cheong Committee Member

Mr Cao Yueming Committee Member

GET KIDS AFLOAT (GKA)

This very popular event from which we introduce youngsters to sailing and get new sailors to join our Optimist Sailing programme has received a total of 307 young participants over 22 batches. Out of which, 8.8% were family of Members, while 91.2% were Non member registrations. It is hoped that from these very keen sailors, we can groom our next generation of national sailors as we have in the past.

BASIC SAILING COURSE

The Club has conducted 19 Basic Sailing Courses (public), where 151 participants learned the basics of sailing. Out of which, 23% of the participants were Members, and 77% of the participants were Non members.

SAILING LEVEL 1 COURSE

A total of 18 Sailing Level 1 Clinics (public) were conducted which saw 132 participants obtaining their Sailing Level 1 proficiency. Out of these, 32% of the participants were Members, and 68% 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 10 courses were conducted with 67 participants completing the 3 day course. Out of these, 37.4% of the participants were Members, and 62.6% of the participants were Non members.

44TH SINGAPORE LASER OPEN

The 44th Singapore Laser Open did not take place due the stringent COVID 19 regulations during that time.

17TH HORSBURGH CHALLENGE 2022

Our annual Horsburgh Challenge was held on 12 & 13 February 2022 this year. Our 17th installment of the event presented itself with clear blue skies with patchy breezes. Due to the Covid 19 pandemic, the Horsburgh leg did not materialise. Starting off with a clear start at Changi Sailing Club at 0721hrs on day 1, the sailors embarked on a passage race along the Southern Route with front row seats witnessing our RSAF pilots rehearsing for the Singapore Air Show 2022. Day 2 saw the sailors racing round Pulau Ubin, and race 2 of the day was a quick windward leeward course. The challenge was concluded with a race to Tekong Buoy before crossing the finishing line at Changi Sailing Club.

Mystic River Millennium 2 Piccanini Innisfree Spellbound Rumbottle

RACE RESULTS skippered by Pang Kim Ann skippered by Ken Yap skippered by Damien Chng, skippered by Alfred Leung skippered by Raymond Sng skippered by Kuah En Shyang

Congratulations to all sailors for completing the challenge, and congratulations to all winners.

SAFYC REGATTA

The 18th edition of our SAFYC Dinghy Regatta was held on 02 & 03 April with 77 sailors competing in three different classes ILCA 7, ILCA 6, and ILCA 4. Light rain and shifty winds graced upon us on day 1, and Race 1 started at 1300hrs. The morning of day 2 greeted us with more wind albeit patchy, and choppier waters compared to the day before testing the sailors’ tactics and instinct

The 18th SAFYC Optimist Regatta kicked off on the following weekend, 09 & 10 April. 161 sailors participated and were eager to prove what their training has taught them. However, the wind was slow to build on both days with a mix of cloudy and sunny conditions. Despite the given conditions, the sailors gave us an impressive race.

RACE RESULTS

Dinghy

1st Lee Wonn Kye

ILCA 7 2nd Akos Rigo

3rd BalazsVincze

1st Jania Ang ILCA 6

2nd Zachary Khoo

3rd Darius Lee

1st Issac Goh ILCA 4

2nd Ethan Teo

3rd Keira Marie Carlyle

RACE RESULTS

Optimist

1st

Gold Fleet Overall 2nd 3rd 1st Silver Fleet 2nd Overall 3rd

Amos Tham

Ethan Chia Han Wei Mikaela Rae Ng Tong Xuan Ya Wong Kai Lun

Allysa Wong Li Lin

Thank you for all of the sailors who participated and congratulations to all winners.

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 2022 BTR started with 9 entrants, and seeing up to 11 boats racing in our 5th series on 10 Sep. The current placings of the competition are Piccanini, Scarlett O’Hara and Innis Free ranking form 1st to 3rd respectively. The final series for the 2022 BTR will be held on 5 Nov 2022.

OVERSEAS REGATTAS

Unfortunately, due to the COVID 19 situation, no overseas regattas were possible at the start of 2022. We are in preparation for the well anticipated Sing Siam Regatta which will be held in Sattahip on 24 30 Nov 2022.

Mr Yap Kok Ken

Captain of Sail

CAPTAIN OF POWER REPORT

Powerboat Sub-Committee

Mr Eugene Wong Captain of Power

MAJ Christopher Soh Deputy Captain of Power

Mr Eric Emmanuel Tan Committee Member

Mr Edmund Toh Committee Member

Mr Jaya Sankaran Committee Member

Mr Gerald Heng Committee Member

The Powerboat Committee’s main focus on the following:

1) To promote power boating as a hobby/sport or lifestyle pastime to Members and the general Public.

2) To conduct PPCDL courses to train boating enthusiasts to prepare for the PPCDL license.

3) To conduct talks relating to Boats and Boating. For example OBM/Engines/Boat hull maintenance workshop.

4) To promote boating and fishing in and around Sembawang / Seletar / Punggol Changi waters.

5) To encourage Boat ownership among Members and the general public. Powered Pleasure Craft Driver’s License (PPCDL) Courses

SAFYC continues to be the premium training Centre for the Powered Pleasure Craft Drivers’ License (PPCDL) course in Singapore. The Powerboat Committee continued to ensure the best training quality by our keen instructors to uphold the reputation of the Club. We have conducted a total of 36 PPCDL courses this FY with a total of 553 trainees. All the PPCDL instructors in SAFYC are accredited by MPA to conduct PPCDL lessons, and positive feedback from our PPCDL trainees has always been the main source of publicity for our strength in this area. The high passing rate and consistent referrals are testimonies to the professionalism and enthusiasm of both the instructors and staff of the Club. The Powerboat Committee wishes to express our gratitude to all our instructors for their unrelenting dedication, professionalism, and unwavering support to conduct PPCDL lessons.

PPCDL Immersion Course

The Committee has also been in discussion with one of the Club tenants to jointly conduct the PPCDL immersion course. This course aims to provide Members who had obtained their license with in depth knowledge of operating a boat. The course covered both theory and practical which is held over a period of 2 days. Contents included safety at sea, common problems encountered at sea, use of navigation aids, and sea sorties along East Johore Straits (local knowledge) highlighting areas of danger. For this FY, a total of 11 participants enrolled in this course.

Powered Boat Self-Drive Charter

The Club has a new corporate member who joined us this FY. The company Bearboat charter offers powered boat self drive at a competitive rate for Members. Their boat is equipped with GPS, a fish finder, fishing rod holders, and a toilet onboard. Members can look forward to self drive a powered boat and explore the northern shores of Singapore.

Fishing Competition

The fishing competition was canceled for this FY in view of strict safe management measures enforced by relevant authorities. In the coming FY, the Committee plans to organise this competition.

Marina Expansion Works

The Marina expansion works have been completed. A total of 19 new fingers were added to cater to boats of up to 45ft. The entire duration of work spanned 8 months and the Marina was operational in Aug 2022. It comprises 9 additional fingers with a 24m extension at the end of Pier 2. The 7 fingers facing seaward have also been reinforced with piles at the end of each finger. The entire Marina Deck has been replaced and new water/electrical pipes and pedestals were installed. There is also a dock box provided to boaters. Currently, we are operating at more than 75% capacity. The new pontoons at the end of Pier 2 cater for dry berth boaters during the weekend and also conduct of alongside drills for PPCDL participants.

Conclusion

The COVID 19 pandemic continues till this FY, which has affected our annual Boating trip to Nongsa. However, I am pleased to see more boating activities by our Boaters as seen by the higher launching and recovery of boats by at least 30%. As most of the countries’ borders have slowly opened, the Powerboat Committee would explore bringing back the boating activities for the coming FY such as the annual Nongsa Point Marina Boating

trip, fishing competition, boater’s workshop, and Kelong lunch. Together with all SAFYC Boaters and Members, please provide your suggestions so that the Powerboat Committee can further improve the engagement level in the boating community. We have established a good relationship with RSYC and we hope to develop more relationships with other Marinas to serve our Members’ boating needs.

I would like to formally appreciate the sturdy support from all Members, MC, and staff of the Club, and we endeavour to serve you better in the upcoming term. Also a big thank you to Allan Mok, our Marina Manager, and his team for their unwavering support to our Boaters, all Powerboat Committee Members, Maj Chris, Eric, Edmund, Jaya & Gerald, for their active participation as well as their contribution in time, resources and efforts.

Lastly, we welcome our boaters to volunteer their ideas, time, and resources to serve in and with the Powerboat Sub Committee.

Eugene Wong Captain of Power

INTRODUCTION

HONORARY TREASURER FINANCIAL REPORT

Finance Sub Committee :

Chairman Mr. Willis Tarn Rui Seng

Ms. Luanne Tan Siok Choo

Mr. Ian Chua Cheng Yong Members

Mr. Teo Wee Chin

Mr. Au Wing Hong

Financial Year 21/22 proved to be yet another challenging year for the Club due to the continuing impact brought about by the ongoing COVID 19 pandemic. With the operationalization of the new Clubhouse facilities and amenities, we have indeed seen upticks in our revenue streams from higher membership sign ups, full tenancy capacity and higher take up rates for our sea sports courses. However, there was a drop in sponsorship/advertisement revenue in FY21/22 as the continuing COVID 19 pandemic had dampened the economic outlook somewhat; suppliers had withheld their sponsorship/advertising dollars to the Club.

Despite the challenging circumstances, for Financial Year 21/22, the Club registered an increase of S$628k in income and achieved a net cash profit of S$545k (after tax) before depreciation and amortization.

FINANCIAL PERFORMANCE FY 21/22

For the financial year ending on 31 Mar 2022, the Club’s gross income and expenditure were S$3,398,331 and S$2,828,974 respectively. Considering depreciation and amortization, the Club registered a net operating surplus of S$258,262

The Club saw an increase in revenue by 23% over the last FY. The breakdown of the changes in the Club’s key revenue items are as follows:

• Memberships and Events increased by 31%

• Marina and Boat Storage increased by 27%

• Tenants’ Income increased by 30%

• Sea sports & activities increased by 32%

For expenditure, there was an increase of 8% over last FY due to the higher operating cost in tandem with the increased activities. Operating cost increases came mainly from Sea Sport related expenses, Marina related expenses (predominantly petrol and diesel), Event cost and Utilities.

LOOKING AHEAD

In the year ahead, the Club will continue to face challenging business conditions due to the impact of COVID 19, bleak economic outlook, evergreen competition from the 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 time to time to ensure that Members enjoy high quality facilities and services at reasonable rates. To illustrate, the Club has invested in the wet berth expansion works and our Members can look forward to a rejuvenated Marina by early 2023. 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 the SAF Yacht Club as a quality sailing and yachting club in Singapore.

Willis Tarn Rui Seng Honorary Treasurer

AUDITED FINANCIAL STATEMENTS & OTHER FINANCIAL INFORMATION

MINUTES OF ANNUAL GENERAL MEETING 2019

Tel:

www.safyc.org.sg