华商 Chinese Enterprise - 2016 issue 2

06 傅海燕：未来劳动队伍 需要更多女性加入

29 Budget 2016: A Well-balanced Budget

Chinese enterprise MCI (P) 162/03/2016

第二期 . ISSUE 2/2016

$5.00 (incl. GST)

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产品优惠 合理价格，换取无价的安逸 只需$6.42元月费，即可安享7天24小时无间断的电 邮及电脑（桌面/笔记型）网络安全保护服务。这项 服务是由精通现代网络攻击策略的获奖安全专家 SpiderLabs所提供。 了解电脑（桌面/笔记型）与电邮所面对的网络攻击 这项服务可隔离各种发自终端、远程驱动器、可移动 驱动器及邮箱里隔绝的病毒、恶意软件与其它进阶 威胁，并通过每日简报告知用户被隔离的病毒、程式 等威胁及其类型。这有助用户在未来日子里加强资 讯系统保安措施。 全天候侦测与抵御攻击 漏洞举报功能与7天24小时的热线服务不仅可帮助用 户侦测保安漏洞，也指导业者及时根除问题，以免业 务的运作与营收蒙受损害。 欲知详情，请即刻游览www.singtel.com/securitysolutions 或 拨电1800 - 763 (SME) 1111联系我们的网络安全专家。 *最短合约期限为24个月（3名用户）。附带其它条件。

卷首语 PRESIDENT’S NOTE 思路决定出路

总商会在上个月隆重举办了国际三八妇女节庆祝晚宴。晚宴上，一位泰国女企业家分享了她在退休之后大胆创业的 经验，令人深受启发。

大约十年前，泰国政府推出政策鼓励私人领域开发太阳能，但由于业界缺乏经验，有关项目长期乏人问津。当时的她已 退休，并在一番深思细算后，决定开发这个商机。短短数年内，她成功发展出亚细安首家及规模最大的商业太阳能发电厂。

近来，行业转型挑战与人力问题备受热议，而这个故事对我们而言正是个绝佳启示。行业与企业在面对经营困境时， 是否能跨越经验的局限，胆大心细地去发掘新机遇，开创先河，往往是决定存亡的关键。

同时，面临人口老化和劳动力短缺的挑战，这种退而不休的精神就更显得可贵。这说明了，只要秉持着终身学习的态 度，不断自我提升、紧追时代步伐，每个国人都可以跨越年龄、性别等局限，持续为国家与社会发展献力。

思路决定出路，心态造就未来。只要政府、企业、商团与国人积极求进，永不言休，我坚信经济转型必将取得硕果， 国家也将走向更美好的未来。

Thoughts influence solutions, mindset forges the future.

During SCCCI’s grand International Women’s Day celebration dinner last month, a speaker from Thailand came forward to share an inspiring experience of her bold strides in entrepreneurship, following her retirement.

Some ten years ago, the Thai government had introduced a policy to encourage development of solar power in the private sector.

However, given the lack of industry knowledge, the project was at a stalemate for a long time.

Newly retired, this lady weighed the odds, conducted requisite research and decided to tap on this business opportunity. Within a few years, she managed to successfully develop the first and largest commercial solar farm in ASEAN. As we are increasingly encumbered by the challenges of industry transformation and manpower constraints in recent years, this story serves as a great inspiration. Even as sectors and enterprises are facing difficulties, their survival very much hinges on whether they are able to break free of old conventions and leapfrog their limited experiences, as well as to boldly but judiciously identify new opportunities, becoming pioneers in their own right.

At the same time, as we are in the midst of grappling with the challenges of an ageing population and manpower constraints, the spirit of retiring but not slackening becomes even more admirable. Her story tells us that, as long as we embrace lifelong learning, ceaselessly seek to improve and keep up with the pace of change, all of us can surpass the limitations of age and gender, and continue to make contributions to the development of our nation and society.

Thoughts influence solutions, and mindset forges the future. As long as the Government, enterprises, trade associations and our people pursue a positive and tireless attitude of progress, I firmly believe that we would succeed in transforming the economy; the nation would also head towards a better tomorrow.

会长 Thomas Chua, SCCCI President 请到总商会网站 www.sccci.org.sg 阅读电子版《华商》。 Chinese Enterprise can be viewed online through the Chamber’s corporate website www.sccci.org.sg

我希望有充裕的资金 供我添购器材，扩大商机。

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* 条件与规则：星展银行中小企业网上贷款服务一般是开放给在新加坡注册及营运的公司和企业所申请。通过以上方式申请的所有贷款产品与服务，一概须受到星展银行商务客户现行条件与规则所约束。星展银行有权随时更改或添加相关条件与规 则，而无需提前给予任何人士通知，同时也不对任何人士负有任何义务。

编辑顾问 Editorial Advisors Thomas Chua Kee Seng Teo Siong Seng Charles Ho Nai Chuen Lim Geok Khoon

蔡其生 张松声 何乃全 林玉勤

目录 CONTENTS

出版统筹 Publications Supervision

谭宝锠 Tham Poh Cheong 主编 Chief Editor

梁廷昭 Leong Teng Chau

06

未来劳动队伍需要 更多女性加入 人口老化将导致未来十年劳动力锐减， 我国需要更多女性加入劳动队伍。

21

Women Need More SelfAcknowledgement Zopim’s co-founder Lim Qing Ru encourages women to aim at greater self-acknowledgement.

07

生命中总有选择 勇敢的选择使她突破性别的限制， 走向事业巅峰，成就美满姻缘。

22

08

经验归零的年代 在瞬息万变的年代，经验已黯然贬值。 企业应如何寻求突破，再上层楼？

Spearheading Solar Power in ASEAN A glimpse into ASEAN’s largest commercial solar farm and the courageous woman behind it.

24

Moving Steadily Ahead – A Familybased Transport Business In conversation with two members of the second generation of Woodlands Transport on their roles in the family business.

英文编辑 English Editor

胡爱兰 Fiona Hu 助理编辑 Assistant Editor 李胜保 Lee Sin Poh

撰稿 Staff WriterS

李胜保 Lee Sin Poh 李依玲 Samantha Lee 特约撰稿 Contributors

10

戴文雪 Tay Boon Suat 全德健 Suan Teck Kin

12

协助中小企业和传统行业 做好未来准备 行业转型的挑战当前，商团与政府应 如何协作应对？总商会会长、官委议 员蔡其生在国会上发表看法。

13

鼓励生育政策与商家的人力需求 国家兴亡，匹夫有责。生儿育女应是 人人都要关心的国家大事。

14

劳动队伍变化与中小企业转型 PMET觅职困难，中小企业却又找不 到人才。究竟个中症结何在？

15

鼓励企业行善 举办慈善活动不仅有助塑造企业 形象，更可增进员工凝聚力。

设计 Design Egg Creatives

出版 Publisher

新加坡中华总商会 Singapore Chinese Chamber of Commerce & Industry 47 Hill Street #09-00 Singapore 179365 Tel: (65) 6337 8381 Fax: (65) 6339 0605 E-mail: corporate@sccci.org.sg Website: www.sccci.org.sg

Chinese Enterprise is produced and designed by Egg Creatives Pte Ltd (Registration No. 200504905G) for Singapore Chinese Chamber of Commerce & Industry (Registration No. S61550014E). Copyright of the materials contained in this publication belongs to SCCCI. Nothing in here shall be reproduced in whole or in part without prior written consent of SCCCI and/or Egg Creatives Pte Ltd. The views expressed in Chinese Enterprise by authors and contributors are not necessarily those of SCCCI and no liabilities shall be attached thereto. All rights reserved.

Editorial enquiries should be directed to the Editor, Chinese Enterprise, Singapore Chinese Chamber of Commerce & Industry, 47 Hill Street #09-00 Singapore 179365. Tel: (65) 6337 8381 Fax: (65) 6339 0605 E-mail: research@sccci.org.sg. Unsolicited material will not be returned unless accompanied by a selfaddressed envelope and sufficient return postage.

While every reasonable care will be taken by the Editor, no responsibility is assumed for the return of unsolicited material. MCI (P) 162/03/2016.

Printed by Innotech Communication Pte Ltd (Registration No. 199604880H).

家族企业畅谈系列（一） 家族企业接班人谢永祺与李坚辉畅谈 他们在家业传承中汲取的宝贵经验。

Business Voice in Parliament

国会里的企业心声

行销 Marketing 黄兆荣 Leonardo Wong

In the Lead

华商焦点

中小企业

16

创新之路上的天时、地利与人和 这家具80年历史的企业不受传统束 缚，勇于研发创新，成为新加坡首家 采用高温杀菌技术保鲜面条并以此 进军国际市场的面条制造商。

狮城经贸

19

新加坡经济转型给中小企业 帶来的挑战与机遇 中小企业必须在经济转型的挑战中 寻求机遇，以产品增值加强竞争力。

27

No Sunset Industry, Only Sunset Thinking SCCCI President Thomas Chua urges the Government, trade associations and enterprises to play their respective roles in the ongoing economic restructuring.

Economic Review

29

Budget 2016: A Well-balanced Budget DBS Senior Economist Irvin Seah and PwC Corporate Tax Partner Lennon Lee proffer insights on the recently announced Budget 2016.

Regional Files

31

A Brief on the “Silk Road Economic Belt and 21st Century Maritime Silk Road” UOB Senior Economist Suan Teck Kin analyses the motivations and capacity of China’s ambitious “One Belt, One Road” initiative.

34

ASEAN Integration: Reality or Mirage?

Lito Camacho, CEO of Credit Suisse Singapore and former finance minister for the Philippines, imparts his impressions on the recently established AEC.

商会时讯

36

追随伟人足迹 建国总理李光耀逝世一周年，总商会 举办快步走活动以示纪念，并鼓励华 商传承其精神。

华商焦点

06

In the Lead

未来劳动队伍 需要更多女性加入 傅海燕部长指出，新加坡的退休人数有可能在15年内超过新进职场的人数，未来经 济发展需要更多女性的参与，以缓解人口老化与低生育率带来的严峻人力挑战。

她说明，面对劳动力的减少，商家 将需要提高生产力水平，所以鼓励妇 女加入劳动力并不只是为了实现两性 平等，更是为了未来的经济发展。数据 显示女性的劳动力参与度自建国以来 稳定上升，今已达60%（以15岁以上女 性为参照样本）。然而，这与男性相比 还有一段距离。

傅海燕部长在总商会举办的国际三八 妇女节庆祝晚宴上致辞。

劳动力换血：质与量的变化

傅海燕指出，今天公民的退休与 新进职场人数比例是17.5万及25万；而 因为人口老化，到了2030年，这比例将 有可能变为26万人退休与17.1万人进入 职场，意味着每十个人离职只有七人加 入职场。业者可能因此在十年内就会面 对劳动力吃紧问题。 3月5日，总商会举办了国际三八妇女节 庆祝晚宴，文化、社区及青年部长傅海 燕受邀为嘉宾并针对人口问题发表看 法。 “更重要的是，如果深入研究这些 数据，我们会看到离开职场的是65岁 以上的员工。他们的教育背景，技能会 与那些新加入职场者完全不同；两代人 有着完全不同的教育背景、知识面与愿 景。如何应对人口变化及提供可以吸引 年轻人的工作对雇主来说非常重要。这 （人口与劳动队伍变化）不仅仅是一个 人数的问题，更是性质— —工作的性 质的问题。”

妇女拥有更多机会提升技能

她指出，政府因此非常重视经济 重组、职业转型与技能提升等课题，而 职场女性如今也有了提升技能的机会。 例如，未来技能计划 (SkillsFuture) 在每 个在职成年人的户口提供500元的资 金，提供女性学习新技能的机会。 “这 是很重大的改变——政府过去都是将 培训金交给雇主，这是首次对个人派 发。过去的方式有两个缺点：雇主关注 自身需要，只提供与工作相关的技能培 训；其二，这种方式无法惠及不受聘者， 例如家庭妇女。”

她 提 醒 雇 主，有了未 来 技 能 计 划，员工可以自行选择与决定要学习 什么技能，如果公司不为他们提供相 关培训，员工大可为自己的未来做好 计划，另谋它职。女性在提升技能之 后，也可以在现任职位上走得更远及 具备转换职场的条件。 家庭与职业同样重要

另一方面，女性也不应忽略建立 家庭与规划生育；男性与女性应扮演 更平等的角色，共同承担照顾孩子的 责任。公司也可以在政策上多加努力

提升女性的工作环境，如在人力政策 上帮助女性妥善分配时间以兼顾家庭 及事业，及避免制定不利于生产后的 母亲重返职场及参与领导培训计划的 政策——这都是些结构性的问题，要 么妨碍女性兼顾家庭与孩子，要么因 为生育需要导致的年龄因素妨碍她们 发挥潜能。不过，她反对制定过于保 护女性的法律，如减少女性工时。 “那 些看起来有利于女性的法律其实长期 下来反而为女性带来负面影响，因为 这将影响受聘机会。”

在妇女节庆祝晚宴上，总商会事 业女性组(CWG)也邀请了四名来自不同 国家的成功女性分享经验：本地的网 聊软件Zopim合伙创办人林清如、印尼 服装制造商Pan Brothers副总裁Anne Patricia Sutanto、泰国太阳能发电商 SPCG创办人Wandee Khunchornyakong 博士及中国农牧业钜子新希望六合集 团首席执行员陈春花。(文\李胜保)

“如何应对人口变化及 提供可以吸引年轻人的 工作对雇主来说非常重 要。这不仅仅是一个人数 的问题，更是性质—— 工作的性质的问题。” —— 傅海燕部长

华商焦点

In the Lead

07

生命中总有选择 她不仅是个成功的企业家，更是个敢作敢为、锐意进取的梦想家。她如今已掌管着 印尼最大服装生产商，志向却不仅限于商界。

Anne Patricia Sutanto • PT. Pan Brothers Tbk 副总

裁；Pan Brothers是印尼最大

服装生产商，为多个国际知名

品牌制造服饰，在印尼拥有3

万2千名员工 • 2015年名列《福布斯亚洲》亚 洲最具影响力女性之一

命运的关键往往在于选择，正如 法国存在主义大师保罗·萨特所说： “ 我们的决定，决定了我们”。正因勇于 追梦与做出选择，印尼服装制造商Pan Brothers的副总裁Anne Patricia Sutanto 成 功 跨 越了性 别 的 藩 篱，在 事业 上 取得了逆转与突破，也成就了美满姻 缘。 生长在重男轻女的传统家族企业 Anne生长在一个印尼 木材业中 赫赫有名的家族企业，公司由父亲与 叔父辈创立。然而，优越的家庭背景 却未使她在事业上一路顺风。在负笈 美国南加州大学取得化学工程学位归 来后，她加入了家族企业，却在重男轻 女的风气下处处遭受不平等待遇。

“叔 父告诉 我 木材业是 个男人的行 业，不属于女人。但当时我弟弟还在 小学，没有男丁接手业务。我告诉他自 己愿意从基层做起，而不要求直接进 入领导层，但做了一年后仍没有获得 应有的机会。”

“遇到自己喜爱的事物， 我一定会去追求！”

她于是暂时离开了公司，再次出国攻 读工商管理学位。本以为通过提升学 历可以获得长辈的认可，无奈回到公 司后，许多大型计划仍然分派给男性 高管 。她只好暂时留下来累积管理经 验，屈身守时。

印尼第一，我的目标是要将公司发展 成为印尼第一、亚洲第一以至世界第 一。”今天，Pan Brothers已问鼎印尼服 装纺织业，市场遍布全球。

从木材业到纺织业

1997年，她终于等到了转机：另一 位舅父表示愿意给她机会加入经营服 装制造业的公司。久旱逢甘露使她更珍 惜机会，全力投入工作，后来更辗转进 入了当时也属于舅父的Pan Brothers。 “他表示将对我严加‘折磨’，告诉我 不要让我母亲知道。他每日早上六点来 接我到公司上班，工作到晚上十一点。 但那六个月是我最好的时光——我获 得了足够的权力和机会。当有人肯给予 机会，你就得珍惜。” 2004年，他的舅父售出了公司，她继续 留在最高管理层谋划业务发展。但数 年后，由于她的长远愿景不受董事局认 可，她毅然离开。直到后来Pan Brothers 的老板表示肯给予她机会发挥，加上 父亲已离世，她作出重大决定— —入 股Pan Brothers，全心投入经营服装制 造业。

“回到Pan Brothers时，我购入了 与老板等量的股份，也与他成为了伙 伴。我告诉他，让他担任首席执行员， 代表公司的形象，自己则担任副手，成 为企业的内部力量。当时我们还不是

我们都有选择

在拥有成功事业之余，Anne也建 立了美满家庭，以及更宏大的社会与 国家理想。她更大胆扬言要成为第一 位印尼华人女性总统，引领国家跻身 世界前列。

她怎能如此面面俱到？她坚信， 成就自我的钥匙就在自己手上——无 论是事业还是感情，人生总有选择。她 笑述自高中时期维持到今天，并已修成 正果的恋情——原来她的丈夫就是当 年在高中的男友，而且当时还是由她主 动追求。 “遇到自己喜爱的事物，我一 定会去追求！为了维系那段恋情，我放 弃了原来在国内攻读法律的理想，跟 随男友到美国留学。人生总有选择，我 很庆幸自己做对了选择。”

上个世纪末，印尼多个城市发生了 惊骇全球的排华暴乱事件，因此遭受国 际制裁，Anne对此深感痛心，立志要振 兴家国。 “我看到了新加坡建国总理李 光耀逝世时的悼念活动。我当时多么 希望自己就是他，印尼正需要这样的总 理。希望有一天印尼的护照也能像新加 坡一样，广受世界国家欢迎。” (文\李胜保)

08

华商焦点

In the Lead

经验归零的年代 数十年内，传统社会的生活方式已经被全球化、 信息革命等接踵而来的巨浪一再颠覆。这可能是个所 有金科玉律都将失效的年代，一个英雄造时势的年 代。正如陈春花所说：我们已经不可以靠经验预测未 来，只有去创造它。

陈春花

• 现任新希望六和股份有限公司 联席董事长兼首席执行官，公 司立足农牧产业，从事饲料、 养殖、肉制品制造等，2015年 名列《财富》中国500强企业 中第85位 • 2015年获《财富》评选为“中 国最具影响力25位商业女性 领导者”第二名 • 《福布斯》 “2015中国商界女 性100强榜”中位列第十 • 新加坡国立大学商学院管理 组织系客座教授，华南理工大 学工商管理学院教授 • 2015年新加坡国立大学商 学院“全球杰出校友奖”

全球正在经历着信息革命带来的 剧变，而且这一历史巨轮正以滚雪球 似的速率前进，一发不可收拾。今年 二月，谷歌Deep Mind发展的人工智 能软体Alphago凭藉大数据技术与自 我学习功能，三次击败韩国棋王李世 石，惊骇全球。人工智能已被普遍视 为未来劳动市场的革命导火线——许 多现有的工作岗位将陆续被机器人淘 汰。而这，可能也只是未来结构性变 化中的冰山一角。

今日市场同样难逃变局，而对企 业家来说，转型正是当务之急。集企 业战略家、教授、作家于一身的陈春 花指出，在变数充斥的时局中，企业也 应放下过去，掌握变化及创造未来。 更明确地说，当下最大的挑战在于管 理不确定性。 识别两种不确定性

陈春花以新加坡面对劳动力变化 说明，虽然未来退休的人数将超过新 进职场的人数，但其实机器人也加入 了工作行列。 “如今中国的家电行业中 一百万机器人已经上岗，未来还有其 它角色会被新技术替代。关键不在于

未来是怎么变，而是怎么面对这个不 确定性。”

她说明，不确定性有两种——经 营性的不确定性与结 构性的不确定 性。前者是在一定程度上仍在控制范 围内的，并且不对原本格局产生根本 性影响；后者则会改变产业格局，带来 根本性影响，领导者尤其必须识别这 种不确定性。

她举例说，她举例说，阿里巴巴 发现互联网技术已导致年轻人交往行 为的改变——转向线上沟通，并认为 这会导致交易行为的改变。发现了这 个结构性的不确定性后，它颠覆了传 统零售业。然而，许多过去的成功者 在结构性变化的挑战下已难以取得突 破，例如柯 达(Kodak) 在感光的呈现 技术、诺基亚 ( Nokia)在手机通讯行业 都曾长达十数年位居世界第一，但好 景不再。“这都是非常优秀的公司， 但面对结构性的变化，他们都要作出 调整，至今还没有重返第一。没有识别 不确定性，或把结构性的不确定性当 作经营性的来应付，是无法求胜于未 知的。”

华商焦点

作为企业家，每当看到有别于以往 的新生事物，都要作出深入分析。如果 新事物预示着巨大的变化，那么未来市 场就会发生演变，企业要做好改变的准 备。例如新加坡面对的劳动力变化，企业 如果对此深入分析，识别出这个变化，就 可以作出应变策略，如采用全自动化、进 行全球的资源整合与调整、提供产业结 构全新的机会等。变化虽然可能带来挑 战，但也有可能对自己来说是机会。 学习与不确定性相处

虽然识别不确定性很重要，但她 承认这非常困难，因为往往只有行业 的领先者才能做到这点。若退而求其 次，领导者要尝试与不确定性相处。

管理者在与不确定性共处时，有 四个要点：

一

二

三

四

先改变自己、改变习惯，尝试走 出安全区，接受不稳定性。尤其 现在的问题是不确定成了常态， 管理者无法用稳定的结构来获 取绩效，因此必须要有能力在不 稳定性中获取绩效。 发展双业务模式——尤其当仅仅 发展现有业务不足以面对不确定 性。企业可在稳健发展现有业务 的同时布局新业务，设立与结合 短期与长期目标，驾驭两者，进 行转型。 不断打破企业内部平衡，挑战 高度，让企业处在自我改变和动 态之中。所有变化的发生，都有 可能是一个机会。 高级管理层要多接近顾客，保 有对顾客需求的直觉，了解新顾 客群体，才可掌握市场的不确定 性，而非习惯于企业自己的评价 标准。

In the Lead

经验在变化中已贬值

陈春花认为，在变动的环境中， 提 升内心 的定力对 领导 者来说非常 重要。为了做到这点，领导者应培养“ 归 零 ”的 心 态 — — 放 下 过 去，展 望 未来。 “真正的挑战不在经验，而在未

来。不管过去是对或错，告诉自己那 都结束了，不必一直反省。我们的先贤 强调反省，是因为需要借经验来看未 来，但今天最特别的地方是要用未来 看现在。所有过去被证明的，在未来 都不一定会再被证明。”她认为，今天 做任何事情都是在最好的时间——不 会迟，因为所有人都在同一个级别上， 没人可再用经验去做。每个未来都会 产生新的问题，需要新的解决方案。

陈春花观察到近年来中国传统思 想在全球的影响力也越来越大，如许多 人开始修禅，这凸显了人们在剧烈的变 化中寻求定力的需要。她也介绍了许多 提升定力的有效方法，例如多与年轻人 相处— —年轻人没有许多过去，恰恰 拥有归零的心境；多交朋友，就知道自 己的不足；保持积极、开放心态，把一 切不确定性看成机会，对不同事物包容 接纳。

她强调，今年的经营环境中，市场 与技术的改变在改变格局，创造未来比 预测未来更重要。此外，许多边界也被 打破——例如亚细安的整合，未来的 世界将再无边界。2016年的关键词将 是：共创共享、生态网、开放进取。 转型的理念与实践

陈春花举例道，新希望六和集团 所经营的农牧业是历史悠久的传统行 业，遇到的挑战也非常大，既有经营性 也有结构性的不确定性。她和团队用了

09

所有过去被证明的， 在未来都不一定会再 被证明。 ─ 陈春花

三年时间，在应对经营性的不确定性 上，解决了全球贸易采购的问题、疫情 与动保安全的问题及全球融资平台的 问题；在应对结构性的不确定性上，由 于虑及行业将会洗牌，所以从企业从 做饲料转向食品。这是因为食品是刚 需品，任何情况下都极具巨大市场。其 次，团队建立了安全的养殖基地，再将 所有基地聚落一体化。 “从经营性到结 构性的不确定性都布局好后，对企业 的未来不会有太多的担心。”

她最终以四句话总结了自己多年 来的管理与教学心得： • 所 有 的 成 功，最 后 都 只 是 人 的 成功，环境只是为人所利用。 • 意愿、想法与行动要兼备。 • 想要领先，就要比别人更用心。 • 分享 与 共 生，才是 持 续 发 展 的 关键。 (文\李胜保)

华商焦点

10

In the Lead

家族企业畅谈系列（一） 泉昌食品工业私营有限公司董事经理谢永祺与星纶控股有限公司总裁李坚辉 畅谈他们经营家族企业的经验，涵盖的课题包括了家族企业的价值观传承、 企业上市的利与弊及正规的传承规划等。

4 月1 5 日，总 商 会 与 瑞 银 集 团 (UBS) 配合总商会110周年庆联办了首 场家族企业系列分享会。在瑞士银行 亚太家族咨询服务董事黄奕斌的主持 下，谢永祺和李坚辉与出席者分享了他 们多年的宝贵经验。

同样来自家族企业的黄山忠副会 长在致欢迎辞时鼓励与会者努力推动 家族企业的薪火相传。论坛上，瑞银高 级财富规划顾问刘素菁也分享了她的 专业意见。

谢永祺

李坚辉

泉昌食品工业私营有限公司董事经理， 家族企业第四代接班人

星纶控股有限公司总裁， 家族企业第三代接班人

泉昌是一家本地知名的调味品制 造与分销商，专门制造酱油、酱青、 辣椒酱等调味料，其虎标酱油的老 虎标志更是家喻户晓。1930年代， 谢永琪的曾祖父从中国南方的广 东省南来落户，创办了这家企业， 是本地酱料制造商中的先驱。

星纶控股是一家创办于1951年的 服饰投资公司，业务涵盖服饰生 产、采购以及供应链管理。星纶集 团如今拥有超过6000名员工，在 新加坡，马来西亚，越南，柬埔寨， 斯里兰卡以及中国等地设有办公 处，进行服饰制造与采购。

今天，谢永祺及其两位弟弟携手打 理这家族企业。尽管泉昌食品的厂 房在近四十多年间曾经因为政府 征用地段而三度迁厂，但却丝毫不 影响它的稳固根基. 凭藉家族精 神及其先辈的遗训——“注重诚 信, 脚踏实地, 不走捷径”, 谢永祺 领导家族成员稳步前进，将 “泉 昌虎标酱油”这个近百年世代相传 老品牌的业务发扬光大；除了做好 品质，也注重产品精美包装和市场 促销 ，更力求产品多元化，决意将 泉昌虎标调味品打造成知名的国 际品牌, 以便顺利地将业务传承到 第五代 。

在加入星纶这家家族企业之前， 李坚辉曾从事资信通讯行业。他在 1999年加入星纶，于2000年成功 带领公司在新加坡证券交易所主 板上市。作为第三代接班人的李坚 辉现已在服饰行业具备长达17年 的丰富经验。 李坚辉在2010年度的新加坡亚太 企业精神奖中获得“卓越企业家 奖”。他同时也是2015年度的安 永企业家奖、制造业领域的奖项 得主。

价值观的传承

谢、李二人首先谈及了家族企业 中价值观传承的重要性。谢永祺笑称， 他的祖父有如包青天，为人十分严肃， 使他自小就敬畏三分。而在祖父长达 三十多年的管理下，勤勉、诚信等传统 价值观也成为了公司的企业文化，一直 保留到今天。父亲生前也曾劝诫他与兄 弟和睦共处，因此数十年来他们都以 协商方式解决意见分歧，从无纷争。 因此他坚信，这些传统价值观是经得 起时间考验的，不管再过多少世代都 会依然非常管用。

李坚辉的家族企业里也十分重视 优良的价值观。例如，即使须承受较大 的风险，长辈也给予信任，并愿意放权 让他从实战经验中学习。此外，家族内 也维持一种规则，即让年轻一代先到 社会工作闯荡，以培养其能力，直到累 积丰富的人事管理经验后再归来家族 企业任职。

家族企业上市的利与弊

在上市或公开募股这方面，泉昌 和星纶的经历则大有不同。泉昌已有

华商焦点

In the Lead

11

左起为瑞士银行亚太区家族咨询服务董事黄奕斌、瑞士银行董事总经理颜锦堂、泉昌食品工业私营有限公司董事经理谢永祺、新加坡 中华总商会副会长黄山忠、瑞银高级财富规划顾问刘素菁及星纶控股有限公司总裁李坚辉。

悠久历史，但仍未曾上市；而李坚辉在 1999年进入星纶后，隔年即带领公司 上市，但他到了2008年却选择再次将 企业私有化。对此，李坚辉也深入分析 了企业上市的利与弊。

他指出，上市的好处在于可以将 家族企业正规化管理，且可从市场中 募集庞大的资金。但是，公司在上市后 则必须向股东交代，而许多时候企业 领导的考量和重大决策——如进行业 务转型，却非市场投资者所能充分理 解，这可能使企业的决策更聚焦于短 期盈利展望，有碍谋划长期策略。相比 之下，私营或由家族管理的企业反而 会在灵活度和决策效率上更胜一筹。

建设正规传承机制

传承规划是另一家族企业十分关 注的课题。多年来从事家族企业财务 规划的瑞银高级财富规划顾问刘素菁 即在论坛上分享了她的专业经验。她 指出，一般家族企业都是在传承过程 出现状况了才来寻求她的协助。 “来寻求帮助的家族企业一般属

于两种状况：第一种是企业创办人年 纪大了，而没有合适接班人，希望搭建

起透明的沟通平台来选择下一位领导 者。第二种则是家庭成员在管理上出 现摩擦。例如，一些股东不愿意参与管 理过程，但对于管理者来说，扩展业务 需要动用资金，因此需要股东参与决 策，这可能引起纠纷。”

家族宪章 Family Constitution

家族宪章列明家庭的 价值观、家族企业的 愿景和目标；定义家 族成员、股东、管理 层、董事会之间来往 时，应该遵守的事项， 也涵盖上述群体的角 色、组成机构、关系、 权限和处理重要家庭 课题时的原则。

她也说明，亚洲家庭一般都基于 互相信任的机制运营与传承，但家族 规模渐渐扩大后，则可能会开始考虑 设立法律架构，例如拟定股东协议书、 规划信托或家族宪章*。

“我 从事的主要 是设 立信 托 架 构，而客户选择这一架构主要是为了 以独立的第三方来管理家庭财富。信 托不单单只是为了产业传承，近来更被 视为保护资产的工具，旨在保障债权 人的和下一代的利益——尤其不希望 下一代因为婚姻出现问题而影响产业 分配。”

在近两个小时的分享会上，出席 者除了聆听嘉宾的分享，也针对以上 几点提出问题。嘉宾多用自己的故事、 经历或周遭的真实例子来回答问题， 内容引人入胜。 （文\李胜保）

编者按 这是总商会与瑞银集团携手联办的 首场家族企业系列分享会，第二场分 享会预期将在今年七月举行。

12

国会里的企业心声

Business Voice in Parliament

协助中小企业和传统 行业做好未来准备 4月7日，总商会会长、新任官委议员蔡其生在国会拨 款委员会辩论贸工部的开支预算时，针对如何有效 推动传统行业与中小企业转型发表看法。

主席、各位议员，在协助中小企 业和传统行业做好未来准备的时候， 商团可以扮演更重要的角色。许多商 团领导一边经营自己的事业，一边尽 心尽力地为商团服务。虽然彼此之间 在业务上存 在竞争，但 是，为了行业 的共同利益和整体形象，大家团结一 致，群策群力。这样做的动力，靠的就 是一股热忱和不服输的精神。

但是，我们必须承认，没有人可 以阻挡时代前进的步伐，传统行业必 须与时并进，主动做出调整。在此， 我要和大家分享三家本 地商团的做 法。第一家是新加坡精密工程科技协 会，原本的名字是 Singapore Precision Engineering & Tooling Association， 现在把 Tooling 改为 Technology； 第二家是新加坡日用品商会 Singapore H o us ew are A ss o ciatio n，原 本 的 名字 是 新 加 坡瓷 商公 会 Singapore Chinaware Association，把 Chinaware 改为Houseware，改名之后，可以发挥 的空间就大了很多！

还有一家商团是新加坡工业自动 化协会Singapore Industrial Automation Association，他们没有改名，但是在 举办活动时采用了新的定位，把商务 会展的名称定为“IoT Asia”。IoT也就是 Internet of Things 华文叫“物联网”，这 是非常新潮的科技术语。名字或者定

位的改变，代表着商团领导思维的改 变，而思维的改变是转型的第一步。

个商团行，就一路追捧；觉得哪个商团 不行，就不想浪费时间。

所以，当王瑞杰部长宣布政府将 协助20多个行业制定转型蓝图，而且 将调派官员到各个行业担任“行业领 袖”时，许多商团都在想到底会花落 谁家？自家商团有没有机会被选中？ 我也在想，这20位官员的学识、经验 在商团到底应该如何发挥？根据《商 业时报》的报道，我国目前有超过350 家商团，当政府派出20位官员后，其 他商团如何参与计划呢？

我必须申明，提出这两点困惑并 不影响商团对政 府政 策的期待和支 持。作为中华总商会会长，我非常欣 慰的是，正在进行的总商会商团中心 计划得到了政府和商团会员的鼎立支 持。我们希望给各行各业的商团提供 平台和空间，更好地发挥引领作用。同 时，我们也希望不同行业的商团领导 经常碰面，能产生化学效应，催生出新 的业务和新的商机。

为了更有效地促进政府和商团之 间的合作，我想反映商团领导的两点 困惑。首先是商团角色的可持续性。 商团是非营利机构，运作资金有限，在 政府的援助下，进行了一些计划，当项 目初见成效，政府官员往往会迫切地 想扩大成果，不断催生，甚至会跨过 商团，另行成立机构，把项目拿过来自 己做。

议长女士，这几天听国会发言，一 些工会领袖呼吁企业和员工都要与时 并进，做好未来准备，我非常赞同。在 企业转型时，即使有了周全的计划，管 理层还是要和员工进行充分沟通。特 别是涉及到调整工作流程，或者是引 进自动化设备的时候，一些员工习惯 了原有的做法，不愿意学习新技能；一 些员工担心公司转型，自己会失去优 势，甚至担心会失去工作，这些抵触心 理的表现就是抗拒调整。看看现在的 经商环境，新技术层出不穷，没有谁能 够保证自己的特长永远有市场，因此， 中小企业和传 统行业要做 好未 来 准 备，就必须是老板和员工一起努力了。

其次是政府部门一窝蜂的追星现 象。表现突出的商团会受到不同政府 部门的追捧，各种各样的援助配套、优 惠政策多到商团忙不过来。而那些正 在努力，资源不够，还在摸索的商团， 本质上更加需要支援，却只能自力更 生，自行运作。出现这种现象，可能是 因为政府官员有预设的立场，认为哪

国会里的企业心声

Business Voice in Parliament

13

鼓励生育政策 与商家的人力需求 4月13日，蔡其生会长在国会拨款委员会辩论总理公署的开支预算时，针对我国 的人口问题发表看法。

主席、各位议员，为了解决我国人 口老化、出生率下降的问题，政府一直 在强化鼓励生育政策，包括撮合姻缘、 住屋政策、鼓励生育、培育子女、平衡 工作与家庭、倡导夫妻共同分担责任 等，能想到的办法都用了。

说到人口和国家实力的关系，让我 引用一段中国古代的历史故事来说明。 宋朝时代，有个小国叫西夏，士兵骁勇 善战，多次和大宋交战，屡战屡胜。但 是，西夏虽然兵强马壮，战斗力强，却 因为人口少，兵源不足，最后只能向大 宋求和。

这个故事，让我们看到一个超级 强悍的小国如何输在人口不足上，这也 提醒我们，人口数量和人口结构，关系 到新加坡的经济发展、社会稳定和国 防安全。同样是在大国夹缝中生存的小 国，强悍的西夏生存了将近200年，而 新加坡能够生存多久呢？

我们刚刚庆祝了建国50年，正在 向新的50年迈进。如果无法解决人口 老化问题，商家们今后会面对更加严峻 的人力资源挑战，所以，支持国家人口 政策，也是为了企业的可持续发展。不 过，在执行的时候，商家们也有苦衷。

实行精益管理( lean management)，提 高生产力，与推广亲家庭措施，灵活安 排工作之间，有一定的冲突，应该如何 解决这个矛盾？

同时，在提高生育率的课题上，政 府要如何以更有效的方式与人民沟通？ 人口结构关系到新加坡的生存，我们应 该以解决水资源同样的毅力来处理人 口问题。正所谓国家兴亡，匹夫有责， 生儿育女今后应该是人人都要关心的 国家大事。

14

国会里的企业心声

Business Voice in Parliament

劳动队伍变化 与中小企业转型 PMET觅职困难，中小企业又找不到人才，究竟症结何在？4月8日，蔡其生会长在 国会拨款委员会辩论人力部的开支预算时，针对劳动力队伍变化及人力资源 挑战等课题发表看法。 司执行。趁现在这个机会，中小企业找 到执行经验丰富的PMET加入，让老板 就有了得力的帮手。请允许我借用中 国名著《三国演义》的故事来做比喻， 想当年，刘备也是中小企业，三顾茅庐 请到诸葛亮，从此事业快速发展，最 后还可以和大公司的曹操抗衡。

主席、各位议员，大家下午好！在 我国经济转型阶段出现的人力资源问 题令人担忧。例如，最近一些曾经在跨 国公司工作的PMET到中小企业求职， 老板因为他们的“高学历、高职位、高 薪水”而犹豫不决，PMET也觉得中小 企业的环境和待遇不好，陷入高不成 低不就的困境。

这是个令人惋惜的现象。一方面 中小企业找不到人才，另一方面PMET 找不到工作，今后，这种现象会越来越 严重。为了能让每一个劳动队伍的成 员充分发挥作用，政府、企业、个人都 要认真找原因，想对策。

一位中小企业的老板曾对我说， 他很 想 转型，也 上了课，请了咨询 顾 问，但是，到最后，还是要有帮手在公

随着我国人口老化的情况加剧， 企 业今后要 面对更 加严峻 的人 力资 源挑战。我属于战后婴儿潮一代，这 批人的总数超过90万，占本地公民的 四分之一，现在已经陆续进入退休阶 段。这代人年轻时，正好是我国大量引 进跨国公司，经济快速发展的时期。 但是，由跨国公司主导经济发展的情 况目前正在逐渐改变。 从经发局公布的数据来看，2011

年到2015年，外国公司在新加坡的固 定资产投入、商业开支、创造的就业 岗位数量都在逐年下降。借此机会， 中小企业可以顺势吸收更多受过良好 教育的人才。以往，中小企业为跨国公 司提供支援服务，现在通过转型，可 成长为有特色的新加坡企业，人才加 入后，职业生涯会比跨国公司相对稳 定。不过，要想吸引他们，中小企业就 要创造更多高素质的就业职位。

在技能提升方面，这两年的宣传 导向，也让中小企业感到失落。例如， 我们常在报章上看到鼓励技能提升的 新闻报道，大多是说，工艺教育学院的

学生努力提升，在跨国企业受到重用。 中小企业老板认为，请人的时候，大学 生请不起，大专生请不到，请外来人才 又受限制，现在连工教院的学生都去 了跨国企业，他们还能请什么人呢？

据我所知，有许多理工学院和工 艺教育学院的毕业生，在中小企业被 委以重任，独当一面。这些故事也应 该多宣传！不要让学生觉得只有在跨 国公司才有发展机会。

另外一个要调整的宣传导向是技 能提升与加薪。技能提升应该是为了 促进企业升级，符合行业需求，增加 受雇机会，但是，这并不等于一定会 增加薪水。有些工作落伍了，淘汰了， 员工必须掌握新技能，才能在企业继 续受聘。

目前，我最关心的人力资源课题 是，政府正在进行25个经济领域的人 力计划，为跨国公司服务的经济发展 局就主导了7个，还有3个是酒店、零售 和建筑业，剩下十多个尚未公布。我 想了解的是，在这十多个领域里，中小 企业的需求有没有考虑在内？如果有， 我希望政府能根据中小企业的实际情 况制定培训内容。

为此，我也呼吁各行各业的商团 积极参与人力资源规划，通过政府、 企业和商团的PPT模式，为本地中小企 业培养更多实用性人才。

国会里的企业心声

Business Voice in Parliament

15

鼓励企业行善 4月13日，蔡其生会长在国会拨款委员会辩论文化、社区及青年部的预算开支 时，呼吁商界积极行善，回馈社会。

主席、各位议员，政府推出税务优惠，倡导企业多多行善；成立“爱新基金”，促进社会和谐与关爱，这是非常正确的 社会导向。实际上，许多企业，包括中小型企业平时都在积极参与慈善活动，只不过做的时候没有在媒体上大张旗鼓地宣 传。现在有了税务优惠，是政府对企业慈善活动的认可，今后企业可以做得更多。

举办慈善活动对企业来说是一举两得。一是倡导回馈社会的精神，塑造企业形象，与员工达成价值观上的共鸣，增强 员工的忠诚度；二是提高企业凝聚力，培养管理层和员工之间的默契。许多同事平时在不同部门工作，接触不多，参加公司 组织的慈善活动，有机会合作能增进了解。

不过，企业在策划活动时，如果有成功经验做参考，活动会更加有效。为此，我呼吁有关部门能提供一些可让企业参 考的公益活动案例，这样一来，企业容易操做，慈善机构也多多受益。

16

中小企业

Focus On SME

创新之路上的 天时、地利与人和 去年我国经济表现疲软，其中制造业更录得14年来最差记录——萎缩5.2%。不 过，食品制造业却通过积极创新得以逆流而上，表现坚挺。今年三月，财政部长 王瑞杰在公布2016年财政预算案时，就以这本地首家研发可耐久新鲜面条、进 军国际市场的面条制造商陈新记为例，告诫业者 “没有夕阳产业，只有夕阳心 态” 。本期《华商》特访这家表现亮眼的总商会会员。

陈俊光 （右） 曾从事石油化工业长达七年；2003年接管家族企业陈新记。 陈佩珍 （左） 曾于酒店服务业从事公关咨询与营销事务；2007年加入陈新记。

中小企业

自从新加坡五年前开始推动新 一轮经济转型以来， “创新”已在商 界成了不绝于耳的关键词，但真正实 践起来却非同小可，尤其当创新牵涉 深入的技术研发，不但所耗的时间、 精神和资金庞大，成败更实属难测。 但不入虎穴，焉得虎子？

陈 新 记即是 佳 例。这一家传 统 老店成立于1936年，已有80年历史。 当年陈佩 珍、陈俊光姐弟的祖 父 从 潮州汕头南来设店，以手工制造及出 售面条维生，如今店面辗转迁入了勿 洛北的多层楼工业厂房。生于斯长于 斯、早已对祖业深具感情的姐弟俩， 虽具备高等教育背景，最终也毅然辞 职，接管祖业而成为第三代接班人。 陈俊光首先在2 0 03年加入企业，并 积极进行现代化改革，包括在业界率 先引入GMP（优良制造标准）、HACCP (食物安全重点控制系统) 等专业工 业管理体系，而姐姐陈佩珍也随后在 2007年加入企业。

20 0 8年，陈新记开启一项耗时 两年及逾十万元的研究计划，尝试将 惯用于乳制品与饮品的高温杀菌技 术 (pasteurisation) 引用到面条制造 上。他们在两年后取得硕果，成功制 造出可以在普通室温下保 存两个星 期至一个月的耐久新鲜面条（按：普 通面条在室温下的保鲜期只有两天） ，冷藏保质期则达六个月，因此为进 军国际市场创造了有利条件。陈新记 也积极研制极具本地美食特色的新 鲜面条餐包，包括咖喱面、虾面及叻 沙等酱料口味，将本地味道推向国际 舞台。 许多传统企业趋于墨守成规，无法适 应市场的变化和经济转型。是什么 因素和视野促使您将陈新记打造成 一个知识型导向的现代化食品制造 商——包括进行专业化管理与研发 创新？陈新记的产品又如何在市场 上定位？

这 要从 陈 新 记的传 承历程说 起。我们的父亲掌管的工厂本来设于 阿裕尼，后来因为受政府推出行业集 群 (industrial clustering) 政策，为个 别行业设立集中式、现代化工业区， 因此才迁入了勿洛这个结构更加标准 化的厂房。我们正是当时开始接手业 务，并在2006年领先于其他商家建设 了HACCP, GMP等体系，以保障食品制 造过程的安全。当时这类工业体系还 较鲜为人知，农粮局 (AVA) 也仍未积

Focus On SMEs

17

在竞争激烈的国际市场上，最重要的是具备鲜明 的定位和概念，否则没人能注意到你。你是谁？ 代表哪里？新加坡的小贩文化是非常特殊的，我 们要做好真实的自己，掌握自身的宝贵资产— — 让人清楚这产品是福建面而不是意大利面。在研 制酱料时，我们就特别到各个小贩中心寻找本地 的传统味道。

极推广。以前的工厂就是开放式的单 一空间，什么流程都放在一起做，当 父母看到我把厂房区分为走道、储存 库、中央包装室等不同区间时，还一 脸惊讶。

并只需直接以微波炉加热这已经煮过 的新鲜面条，即可快速食用，步骤简 单而且十分健康。

2 0 0 8年，我们开始研发可耐久 新鲜面条，这主要是出于食物安全考 量 和 减 轻 工作负担 的需 要。由于在 这个行业中成长，我们一直都有意识 到面条 保鲜期太短 这一困扰业界已 久的问题，并设法解决。根据农粮局 的定义，新鲜面条是不可含有苯甲酸 (benzoic acid) 的，但以前业界惯有这 种保鲜做法。很多时候，我们一天三 餐不知不觉在食用着大量面条，使体 内累积这种致癌物，遗害不浅。记得 约在8 0 年代，马来西亚 还发生过食 用米太白致死的案例。另外，由于传 统方式生产的面条保鲜期非常短，造 成工作非常忙碌和艰辛。刚接手业务 时，我们是在傍晚七点开工，通宵进 行生产，然后直接运输产品到湿巴刹 售卖，流程非常紧凑。此外，政府还 把所有制造商的厂房重置、集群聚落 化，使买家可以轻易货比多家，竞争 异常激烈。

研发过程大多是艰难、漫长而未必有 回报的，如陈新记的高温杀菌技术研 发就耗费了两年（2008-2010）及超 过十万元的资金。作为中小企业，您 当时为何有信心跨出这一步，又从中 学习到什么？

从商 就 是 要勇于冒险、要胆 大 心细，在一定程度上了解市场、计算 风险后就要放手一搏。例如，我们可 以观察到，八十年代的面包市场大都 以传统白面包为主，后来某知名品牌 登场，以更长保鲜期的面包、更多的 口味 和包 装方式，大 约在一年内就 淘汰了传统白面包，霸占市场。同样 的，70年代我们在街市上买豆腐，还 是用香蕉叶包了就卖的，后来有个商 家也是采用了高温杀菌、以盒子密封 的方式来做，当时还被人嘲笑——认 为这样卖豆腐是会亏大本的，但后来 市场证明了这行得通。其实，我们还 是要感激父母给我们提供教育，让我 们在外头工作中开阔视野，懂得辨识 商机。

在成功研发了高温杀菌技术，制 造可储藏长达一个月新鲜面条后，我 们可以更具灵活性地规划生产和运 输流程，大大缓解工作负担。除了湿 巴刹，这类产品更可进军零售市场如 超市，并且在超市内独立设架，与其 它需要冷藏的面条分开售卖（经过冷 藏的面条会变脆而较难处理），提升 了竞争力。这可说是开启了业界的“范 式转移” （paradigm shift)，创出新格 局。尤其对于忙碌的都市人或留宿学 校的学生，他们可以购买更多存货，

而在研发过程中，我们对外咨询 了食品科学家，自己也设立实验室进 行产品样本测试。但整个落实的过程 十分复杂。在条件受控的实验室里可 行的操作方式，很多时候在商业化的 大量生产时是行不通的，因此必须不 断改装机械和生产线。此外，维持品 质是一个整体的过程，例如，新鲜面 条是在工厂就已经煮过了的，要如何 确保顾客买回家再次弄热 不会破坏 质感？其实我们在一开始的材料筛选 上就必须下功夫了。

中小企业

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Focus On SME

员工培 训是 一笔非常大的开 支，我们必须尽力留住 员工。以我 （佩珍）以往的酒店服务工作为例， 往往员工在第一年、第二年加入时 只是认识和熟悉公司运作，第三年 才开始真正贡献，可见留住员工的 重要性。标新局的中小企业人才培 训计划 (SME Talent Programme，一 项帮助中小企业与大专院校配对人 才的计划) 曾为我们引进了很好的人 才，但合约期只有一年，这太短了， 应该延长到两年才能让双方都更好 地受益。我们曾向标新局反映这点。 延长面条保鲜期的技术使产品得以进 入国际市场，陈新记何时开始走向海 外，又以何种策略扩展国际市场？ 我们其实在2012年左右才走进国际 市场，这是因为在2 010年成功研发 技术后，我们还花了不少心血在本地 建立品牌，尤其在教育消费者上。其 实灌输消费者食品知识— —如什么 是新鲜面条等，是个最大的挑战。不 过，我（俊光）很早就有了国际化的目 标。因为有着在石油化工业工作的视 野，我知道新加坡没有多大的市场， 产品迟早是要走出去的。

我 们 如 今 进 入了欧 美、中东 和 香港市场，而在之前也曾与新加坡国 际企发局（IE Singapore) 出国考察市 场，并向标新局 (SPRING) 咨询，在认 识国际市场上获得不少帮助。例如， 我们 的产品符 合不含面筋（或称 胶 质/gluten) 的条件，因此可以争取较 注 重 这 类食品资格的 欧 美市场；而 由于产品早已具备清真认证 (Halal)， 因此也进入了中东的杜拜，那是个极 具潜力的市场。至于中国市场，那里 虽 然十分庞 大，但 对 我们 的业务来 说设施条件仍有不足；周边国家（东 南亚）则因为价格因素，我们无法竞 争。针对成本问题，政府常鼓励制造 业者到成本较低的新兴国家设厂。但 对我们来说，留在本地也有好处，如 新加坡的食品安全信誉就是一个很 有价值的资产。

在 走 出去时，产品 定位 和营 销 策 略也十分重要。在竞争激 烈的国 际市场上，最重要的是具备鲜明的定 位和概念，否则没人能注意到你。你 是谁？代表哪里？新加坡的小贩文化 (hawker culture) 是非常特殊的，我们 要做好真实的自己，掌握自身的宝贵 资产— —让人清楚这产品是福建面 而不是意大利面。在研制酱料时，我

们就特别到各个小贩中心寻找本地的 传统味道。政府机构在帮助新加坡打 造国际定位上也做出了很多贡献，例如 每年举办的新加坡美食节。 作为员工人数不多（约40人）的中小企 业，陈新记在2013年也设立了正式的 人力资源管理系统。人力资源对中小 企业的重要性在哪里？本地中小企业 常面对的人力问题，如与跨国企业的 人才竞争、留住年轻人才和传承等问 题，您又如何应对？

人永远是成功的关键因素。即使 有良好的企业模式，缺少了人才也无法 成功。要知道现在的员工就是老板，我 们只不过是协调人！ （笑）我们雇人的 理念是首先注重态度，而技能可以接 着再培训 (believe in attitude and train for skill) 。年轻人总得先有人给他机 会，然后他自己也需努力。

我们知道每个岗位终究要会传给 新一代去做，在团队中也请了不少年 轻人。留住年轻人才是个中小企业常 面对的问题，但其实我们并不比跨国 企业条件差，就如最近受经济不景影 响一些知名跨国公司也撤出我国及裁 员。其实，中小企业如今也越来越吃香 了，我们在雇人时有时比跨国企业还 要严格。这是因为企业规模小，所以每 个成员都扮演非常重要的角色，一定 要找相同理念的人，并且在雇人时就 为他做好未来的职业规划。

另外更重要的一点是，业者要确 保自己持续成长，每天都必须进步，扩 展新市场，让年轻人有机会学习不同 事物，不断前进。我（俊光）以前就职 的大型企业就缺少这种流动性，大概 每工作三年就得思考是否要留下来， 因为已经每天在重复做同样的事情， 停滞不前，好学的员工就会考虑离开。 中小企 业的 一 个好 处 是 没 那么多阶 层，员工有更多的机会和领导者一起 工作，学习机会很多。

陈新记在未来的日子有什么发展规 划？作为商家和会员，您对政府与总 商会有何建议？

我们未来会往申请专利权、知 识产权和发展社交媒体平台等方向 努力。我们也在继续进行产品研发， 即将在四月中首次参与亚洲国际食 品与酒店展 (Food & Hotel Asia)，届 时将推出三种新口味的面条餐包。

我 们 看 到 政 府正在 努力 帮 助 行业转型，如推出本地企业与协会 发展计 划(LEAD)。不过，许多有意 转 型 和 成长 的公司 还 处 于 过 渡 阶 段，这是个漫长的过程，而我们尤 其 面 对 人 力资 源 的 问 题 。虽 然 政 府鼓 励自动化，但 如物流、手动包 装 、货 仓 管 理 等 许 多 程 序 是 暂 时 还不能以自动化 取代的。此 外，即 便 可 以 自 动 化 ，我 们 也 需 要 不少 空 间 放 置 机 器，而 高 昂 的 租 金 和 商业成本又令人难以负担。中小企 业 一直 都 在 向 反 映 这 些 问 题 。我 们 也 希望 人 力政 策 可以稍 微 放 松 两 年，让 商 界 稳 健 走 过 转 型 的 过 渡期。

编者语 古语说： “天时不如地利，地利不如 人和。”对陈新记来说，显然三者都 是创新与成功经营的要素。天时，即 市场对于保鲜食品与健康食物的需 求；地 利，即 本 地 食品 文化在国 际 市场上的独特魅力与新加坡制品的 信誉；人和，即员工的素质与职业规 划、员工与企 业的共同成长。陈 新 记的成 就并非偶然，本 地企业可以 借镜。

(文\李胜保；摄\黄兆荣）

狮城经贸

Economic Review

19

新加坡经济转型给中小企业 帶来的挑战与机遇 特约撰稿 戴文雪 boonsuat@gmail.com 陶朱公企业咨询顾问、中华总商会国际事务委员会委员

世界经济步入2016年后，局势确 实变幻莫测。中国经济成长缓慢，原 油价格剧 跌等不确定因素为今年的 国际经济前景蒙上一层阴影。新加坡 去年才刚举国欢庆建国50周年大典， 全国洋溢着幸福欢乐的气氛。但步入 2016后，本地企业也开始要面对经济 下滑的挑战。

下五个不同的发展阶段：

根 据新加坡特许会 计师协会今 年3月15日公布的数据，约有4 4%的 本地中小企业对今年的经济展望表示 悲观，主要因为中小企业必须面对经 济转型之后所带来的一些经营上的压 力，如薪金、租金等商业成本不断上 涨以及人力短缺等问题。但这些现象 从何而来呢？我想在此为我国多年来 推动的经济转型政策稍作补充，以方 便大家对我国经济转型这问题的来龙 去脉能有些更具体的认识。

我们在过去五六十年的经济发展 史上，首先经历了依靠转口贸易吸引 外资发展劳动密集工业——如电子厂 等类式的经济转型。当时政府的优先 政策是以民生就业为主要目标。1997 年，亚洲各国首次出现金融危机，不幸 又遭遇世界性的电子工业需求下跌， 我国经济深受冲击，许多跨国公司关 闭或把本地的工厂迁移到中国与印尼 等国。这些意想不到的转变，促使政 府不得不开始思考和着手调整经济结 构。这是我国展开经济转型的最早前 奏。政府自此开始有计划地引进与生 命科学或环境保护相关的各种行业。

我们须先了解，到底什么是经济 转型（Industry Transformation)？一般 而言，经济转型是指一个国家的经济 结构或其经济制度在一定时间内发生 根本变化，或者是其经济成长的方式 也发生了转变，或者是其经济结构上 的提升。 理论上，经济转型可分为四类： 一、经济体制经济转型 二、发展战略经济转型 三、经济成长经济转型 四、经济结构的经济转型

新加坡过去经济发展历程

自1959年李光耀与人民行动党 执政以来，在经济发展方面共经历以

一、进口替代期：1959一1965 二、出口导向期：1966一1970 三、快速增长期：1970一1980 四、产业升级期：1980一1997 五、调整恢复/经济转型期：1998至今

我国经 济进 入 大转型 应该是 从 2002年开始。当时，新一代内阁表现 出以求新求变的务实主义方式治国的 决心，例如为振兴旅遊业而兴建了金 沙与名胜世界两个大型国际赌场，也 投入巨资举办第一方程式(F1)夜间赛 车。这些重大的政策转型旨在使新加 坡能继续繁荣成长下去，希望为国人创 造更好的就业机会、鼓励本地企业家 创新、开发新商机并与员工分享成果。

经济转型对中小企业的影响

可是，天下哪有免费的午餐？当 社会和经济经历转型时，中小企业也 面临严峻的考验。这主要因为它们一 般具备下列特质：

一、小规模的家族企业 二、企业创业者或经营者的电脑科技 及英文能力尚待改进 三、多从事劳力密集的行业如饮食、运 输、邻里零售等行业

根据调查，本地中小企业在经济转型 时经常面对的挑战包括以下四点： 成 本：经 济 转 型同 时 带 动 了 薪 金、租 金、商 业 成 本 等上涨，及 人手短 缺等问题。实 际上，高昂的商业成本令一些外 国企 业 重 新 考虑是 否 要 在 本 地 继续发展业务，例如船 运公司马 士基 Maersk Line就是因为成本 高昂而 决 定 把 区 域 总部 迁 到 香 港。最 近，美国重型机械制造商 Caterpillar Singapore也为此而关 闭了本地的工厂。 一

人 力：政 府在 推 行 经 济 转 型— —尤其紧缩外劳政 策 时，是否有考虑到业主们应变的 能力？ 二

空间：裕廊集团与建屋局是 否能继续提供充足又负担得 起的工商业场地？一些物流公司面 对重型车辆缺乏司机与停车场的 问题。 三

资金：经济转型的核心点是 通过自动化提高生产力、节 省人力及改善服务，但自动化需要 大笔资金，而银行对中小企业的贷 款仍显得过份保守或谨慎。 四

狮城经贸

20

在经济转型过程中，无可避免的， 政 策的改 变如对外劳配额 的严格管 制、高昂的外劳税等确实为受影响的 企业带来压力。但换个角度看，政府也 为了确保企业顺利转型而提供了不少 援助配套，像协助中小企业的生产力与 创新优惠计划 (PIC) 、创新与能力赠券 (lCV)及各种培训津贴等协助措施。应 如何善用这些援助配套达到转型目标 呢？这是业者目前所应关注的。

此外，业者也要拥有正确心态。经 营企业完全出于个人的意愿而不是被 迫的，所以企业的盈亏存亡完全是自已 的责任，所有外在因素如政府对企业的 援助只是锦上添花而已，帮助企业继续 生存下去并非他们的义务。政府、企业 及商团唯有达成这样的共识，转型政 策才可能达到预期的效果。

2016年财政预算案：特別关注中小企 业的财政预算案

3月24日，我国新任财政部长王 瑞杰宣布2016年的新财政预算案，其 中主要以经济转型为重点。新预算案 2016年的财年开支达734亿新元，比 往年增加了50亿，而其中有45亿元是 用于推动产业转型计划，帮助本地企 业顺利转型，今后也将推出多项计划 帮助企业引进新技术和自动化，并推 动企业国际化。

面对经济不景，政府在新财政预 算中特别推出下列援助措施： 中小企业流动资金贷款计划 (SME Working Capital Loan) ：鼔 励银 行向具备条 件的企业贷 款，每家企业可申请高达30万元贷 款，作为日常运作、进行自动化发 展或提升工厂的设施与设备的资 金。政 府承诺将承担5 0 %的违约 风险。 一

自 动 化 辅 助 配 套 (Automation Support Scheme)：最高达5 0 % 的自动 化 项目成本津贴，顶限是100万元。 政府计划拨出4亿5千万元帮助企 业实行自动化项目和采用机器人 科技。 二

三

公司所得税回扣:回扣提高 到50%，顶限是2万元。

Economic Review

这些措施主要为了帮助企业与行 业顺利转型，并通过创新途径创造财 富。在极其有限的资源条 件下，政府 会集中资源协助企业建立起符合时代 需求的技术、提供员工培训、扩大业 务规模与国际化。

产品增值是增強国家竞争力的利器

在战后至六十年代， “日本制造” 曾被消费者讥为劣质产品的代名词。 与欧美产品相比，当时的日本产品极 缺国际竞争力。但为了提升日货在当 地市场的竞争力，日本政府后来推动 质 量 救 国 作 为国家 的 经 济 战 略，因 此引进美国人戴明博士(W. Edwards Deming) 的QC 概念，日本从此改变了 他们對於品质管理以及品质经营的概 念，因而奠定了日本TQC (Total Quality Control) 的坚厚基础。

此外，日本全国同时也推动全面 质量管理，在引进美国的质量改善模 式之后，迅速提升了产品的质量水平， 最 后其制造 业竞争力甚至 超 越了欧 美。此外，日本也在法律上（制造基础 技术振兴基本法）明确规定国家或生 产经营者在促进生产基础技术方面的 职责，日本的企业家、管理专家、产业 专家，以及各阶层员工都积极参与这 个持续改善效率与产品或服务质量的 运动中。这些积极的生产理念也从此 深植日本人民的心中。

其实，战后的德国也与日本情况 相似，当时其产品也落后于英美等国， 但德国工业后来却也建立起一套有效 的法律法规，并运用于行业标谁及质 量认证体系。因此，法律体系成了德国 产品质量的保证，并统一了行业标准。 客观的认证系统可向消费者证明产品 的可靠性。从此“德国制造”字眼成了 消费者眼中的良好产品的代名词，而 德国业者对技术、效率、品质近乎苛 刻的追求也早已深入民心，成了德国 制造品的灵魂。

日本与德国在经济转型时，全力 聚焦于产品品质及生产力的提升，最 终跻身世界工业强国。这些经验非常 值得现代新加坡企业借鉴。持续帮助 本地中小企业提升生产力是我国目前 重要的经济政策。然而，这需要一套 有效的执行程序，也需要政府与各行 业的商会或协会的通力合作。在这方 面，我同意中华总商会会长蔡其生先

“…政府应慎重考虑 委任一位中小企业部 长，全权外理中小企业 所面对的问题。此外， 政府部门也可以考虑 成立一个专门处理中 小企业事务的部门，并 聘请富有企业经验的 管理人才协助管理。”

生所建议的，政府应慎重考虑委任一 位中小企业部长，全权外理中小企业 所面对的问题。此外，政府部门也可以 考虑成立一个专门处理中小企业事务 的部门，并聘请富有企业经验的管理 人才协助管理。我想这应该是协助本 地中小企业的政府决策人应考虑的长 期发展方针。

经济转型的挑战与机遇

经济转型是我国政府目前最重要 的政策之一，这是因为我们过去五十 年取得的经济成就并无法保证未来好 景常在。政府与企业界的相互配合与 沟通是决定中小企业经济转型成败的 关键因素。

淘汰夕阳企业不难，但要为现有 企业打造竞争优势，却是接下来最艰 巨的挑战。中小企业眼前面对的高昂 成本与人手短缺问题直接影响到企业 的生产力。若问题不获改善，我国最终 将在国际市场上失去竞争力。可见经 济转型与中小企业的命运是紧密相关 的，唯有在政商双方对彼此利害关系 达成共识的前提下，经济转型才能取 得突破与成功。

眼前世界 各国的经 济正开始疲 软，这肯定会给本地企业带来巨大压 力，但正如王瑞杰部长所说： “我们不 应该被悲观情绪主导，更不应该让悲 观期望成为现实。”

华商焦点

In the Lead

21

Women Need More Self-Acknowledgement By: Lee Sin Poh

“I raise up my voice – not so I can shout, but so that those without a voice can be heard...We cannot succeed when half of us are held back.”

So Lim Qing Ru quoted Malala Yousafzai, the Pakistani activist for female education and the youngestever Nobel laureate, as she encourages women to advocate themselves to gain acknowledgements they well deserve.

Qing Ru recounted being called a “female tiger” (Chinese saying for a shrewd woman) in primary school, a “man” in high school, and eventually a “tomboy” in junior college, for being aggressive in pursuing what she wanted. But now she values her outspoken character and highly attributes her entrepreneurial success to that, particularly as a woman.

Lim Qing Ru Co-founder of Zopim, a leading provider of live-chat software which serviced more than 500,000 international businesses out of Singapore by 2014 before it was acquired by a NASDAQ-listed company for more than US$29.8 million. Qing Ru started her service at Zendesk as Director of Customer Advocacy before transitioning to her current role as Director of Product Marketing, and she continues to grow Zopim’s expanding presence worldwide. She was identified

by The Sunday Times as one of the Top 21 Singapore’s Female Technopreneurs.

Instead of acknowledging their own capability, women tend to attribute their success to other factors. According to Qing Ru, women attribute successes to their team, helps from others, being at the right place at the right time, being lucky, and et cetera. This is especially apparent in the Asian context where women are expected to be more self-efficacy.

The real danger, said Qing Ru, is that women are being subconsciously programmed to think that their contributions to success are actually not that significant. For instance, when they receive certain acknowledgements as in awards, they could be seen as taking undue credit.

She also quoted Sheryl Sandberg, the COO of Facebook: “Many people, but especially women, feel fraudulent when they are praised for their

accomplishments. Instead of feeling worthy of recognition, they feel undeserving and guilty, as if a mistake has been made. Despite being high achievers, even experts in their fields, women can’t seem to shake the sense that it is only a matter of time until they are found out for who they really are – impostors with limited skills or abilities.” This is exactly what Qing Ru sees in many women.

She also noted that while more and more females are admitted into universities, the chance of getting to the top in corporate and government sectors is still slim, compared to men of similar calibre. That is because of the long-term cause of women sacrificing their careers for partners and children, and unwillingness to advance their careers because they do not wish to disrupt their work-life balance.

“This is a long-term cause that will affect the career path of your daughters and granddaughters, and I believe we can change that. Women should think twice before exiting the workforce. Make your partners an equal player and get your spouse’s support in household life. Speak up for yourself and make yourself heard, as nothing is going to change if women keep quiet.”

狮城经贸 华商焦点

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Economic In the Review Lead

Spearheading Solar Power in ASEAN By: Lee Sin Poh

In just half a decade, SPCG founder Dr Wandee Khunchornyakong has gained international recognition for spearheading the renewable energy mission and establishing the first commercial solar farm in Thailand as well as ASEAN. As she said in her own words, it is not a long story, but a good one.

A Belated Opportunity When Wandee retired in 2006, she did not set out to be an entrepreneur. But an opportunity arose in 2007, when the Thai government announced its new policy to purchase solar energy from the private sector, with the offer of good incentives to private renewable energy developers.

Dr Wandee Juljarern Khunchornyakong sharing her story of success at the International Women’s Day Celebration Dinner organised by SCCCI on March 5.

Dr Wandee Juljarern Khunchornyakong • Founder of Solar Power Company Group (SPCG), which runs the first and largest commercial solar farm in ASEAN and has attracted over US$800 million worth of investment • United Nation’s Momentum of Change Award in 2014 • 2013’s Women Entrepreneur of the Year, named by the Asia Pacific Entrepreneurship Awards • Elected as the President of the National Council of Women of Thailand in 2014

In SPCG’s 36 solar farms located in the northeast and central region of Thailand, some 2,000 workers share the same working hours – from sunrise to sunset, pushing the nation towards a solar power leader among ASEAN countries.

However, when she approached the ministry in charge of this project ten months later, she was surprised to discover that there were still no takers following the government announcement. Thereafter she spent another few months to study the business model and the solar power market, growing more confident as time went on. In 2009, she went ahead to submit the application to the government. “I was then told that I could take as many solar farm permits as I want. So I took a total of 36 power purchase agreements, and chose all the best locations in the northeastern region, where there are highlands highly exposed to sunlight.”

However, financing turned out to be the true challenge of the ambitious project. As a pioneer project with an unproven market, and being almost 60, she found great difficulties in applying for commercial bank loans with a 20-year payback period. Hence, she was prepared to take up the challenge of promising a shorter payback period of 12 years.

狮城经贸 华商焦点

Economic In the Lead Review

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investment of US$800 million, now comprising $600 million of loans and $200 million of equity. The major part of the equity is accounted by an equity bridge loan of US$120 million, and US$40 million capital gained from Public Offering (PO). The solar farms now occupy 2,000 acres of land. Other than that, SPCG is also engaged in developing solar roofs for residential, commercial and industrial buildings.

An SPCG’s monitoring control room which operates with SCADA (Supervisory Control and Data Acquisition) system.

Pioneer Project Financing Woes “This is a high-risk pioneer project.

As I was not all that familiar with solarpower productivity, I was not certain how long it would take to repay the debt. I went to many banks but was rejected by all of them. In a meeting with the last bank whose corporate colour was green , I told the president in jest: ‘If you don’t lend me the money, you have to change your colour, because my project is green.’” (*laugh) Thankfully, the bank was agreeable.

As it was a pioneer project, there were other stipulations that Wandee was then required to comply. She was requested by the bank to seek professional financial advisory, so that the bank could avoid penalties from the central bank (Bank of Thailand) should the project fail. She was also required to look for Independent Engineering (IE), insurance advisory and legal advisory.

“When you talk to these professionals, you don’t say hello, you don’t say goodbye. You just make it clear what you want to ask, because they charge you by the minute,” she said, laughing.

In 2010, the project started its operation at the power-generation scale of 7.4MW per year, at a cost of US$21 million; and the debt to equity (D/E) ratio was 60:40.

Encountering the most difficult time then on financing the 40 per cent equity, Wandee resorted to selling her land and property. The project commercial operation date was April 21 2010.

Fortunately, after six months, SPCG’s performance proved to be 30 per cent better than the bank’s expectations.

Building a Cleaner World Since then, the pioneer business has expanded sizeably – nearly 40 times in just five years. In 2014, all 36 farms were completely set up with a total

Her success proved that the clean energy industry in Thailand has huge potential. The Thai government had set up an Alternative Energy Development Plan (AEDP) in 2012, aiming to promote alternative energy usage to cover 30 per cent of national energy consumption by 2036, in which solar energy is expected to contribute 6000 MWp annually. By contrast, in 2014, Thailand produced about 1298 MW of solar energy.1 SPCG produced 260 MW in that year.

It is all an accidental wealth to her.

As she said, “I started the business with my passion to provide solar energy to Thailand, without the intention to earn money.” SPCG is not only a business for profit to her but one to build a cleaner world for the future generations. SPCG now reduces 200,000 tonnes of CO2equivalent every year. It also created 20,000 jobs during the construction of solar farms, while Wandee expects another 1,000 to be created in the next 30 years.

1

Annual Report 2014, International Energy Agency (IEA) Photovoltaic Power System Programme.

Cumulative Installation of Solar Photovoltaic (PV) Power Generation in Thailand, 2009-2014 14 0 0 120 0 10 0 0 800 600 400 20 0 0

20 09

2010

2011

2012

2013

2014

The Thai Government has been actively promoting solar energy development in recent years. (Data Source: International Energy Agency)

PV Power Generated (MWp)

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华商焦点

In the Lead

Moving Steadily Ahead A Family-based Transport Business By: Samantha Lee

Voo Choon Ling and Voo Wei Keong, members of the second generation of Woodlands Transport, share their thoughts on joining the family business.

Woodlands Transport (WTS) is no stranger to most of us as we would probably have relied on its school bus services in our youth. Started by Voo Soon Sang, Lim Chin Hwee and Sia Leong Bee with only three buses, WTS has now expanded into one of the largest private transport fleets in Singapore, providing bus transport, travel and tours, and construction transport services. Now, the second generation of the three founders, including Voo Choon Ling and Voo Wei Keong, has also sprung into action.

Choon Ling is now the Chief Financial Controller of the company while Wei Keong runs the travel and tour arm of the company.

Interestingly, they too had to submit their resumes and go through the interview process like any other candidates. “Even if you are a shareholder or family member, it doesn’t mean you will be guaranteed a job in the company,” said Choon Ling.

Besides that, they have to apply leave and go through appraisal as well. “I started out with only seven days of leave as per the company’s HR policy then,” laughed Wei Keong. Not only is this one way to professionalise the family business, it sends a clear message to employees that the company is transparent and merit based.

Choon Ling acknowledged that with the second generation joining the family business, there are bound to be employees viewing them as a threat.

But this has been proven wrong in WTS. Employees who have proven to be capable are taking up important roles in the company and leading certain departments. In fact, Choon Ling has Photo Credit: Leonardo Wong

华商焦点

recently recruited a new financial controller and she is more than happy that there is someone equally capable to assist her.

Being family-oriented, the company treats employees as their family members. There are many long-serving employees in WTS and the sister-brother duo is thankful that they have good employees who are willing to grow with the company.

As for the future plans for WTS, their immediate goal is to win the LTA public bus tender and hopefully be managing more than one transport package in five years’ time. “We hope we have gained enough experience to be one of the public transport operators. This is Mr Voo’s life-time dream and the second generation’s goal now,” added Choon Ling.

Was it in your plan to join the family business? What made you decide to join the family business?

My father sat us down for a family meeting after Wei Keong graduated. He asked if we were interested in joining the family business and all of us shook our heads simultaneously. My father then started sharing the details of his business journey which touched me a lot. What struck me the most was this: “The tree has been planted and has started bearing fruit. All you have to do is to pick the fruits and continue nurturing this tree.” I was then carving out my career in the professional industry, but having heard what my father said, I decided to continue nurturing this tree that my father has put his whole life into.

Since young, we always had the impression that working in an MNC is something glamorous, so I naturally wanted to explore the outside world. After graduation, I joined an MNC which offered me an overseas working stint. I was based in the USA for one year before being posted back to the Singapore office. Then, my father approached me again, asking if I were ready to come back to the family business. I did have my reservations at first. As a boy, I saw how hard my father worked – he always left the house early

In the Lead

25

and reached home very late – and how tough it was to run this business.

Eventually, I took a leap of faith and have since been with the company for 11 years.

highly educated, they are actually very open to new ideas from the second generation and even the professionals.

They give us the space to explore new opportunities and ideas.

In your opinion, what is the best thing about working in the family business?

For example, while we started out as a transport company, we have also diversified into the pawnshop and laundry business. In fact, we are the first pawnshop to open a shop front in a shopping mall. It was a bold idea which was initially scoffed at by the industry. But now, look at the number of pawnshops in the shopping malls. I remember an incident when we managed to convince the first generation to embark on a new project.

However, after a year, the project didn’t take off. The first generation then explained that while they did have their reservations, they didn’t want to throw a wet blanket over our ideas. They were willing to give us the opportunity to try and learn. Even if the project failed, we would have gained valuable experience through the process. If this had happened in other companies, the board would probably have killed the project immediately instead of spending a year of resources on the project. But our first generation understood that if this was done, employees will eventually lose faith and stop thinking of new ideas and projects which would be beneficial to the company.

It helped me relive the time I lost with my father. I get to see him and spend more time with him every day, be it talking about business, our personal life or his life values and experiences. I am glad I made this decision to come back to the family business.

Because we are sitting on the board, we gained more exposure of the company and industry very quickly. We also had the opportunity to be involved in more projects, enabling us to experience and learn through the process and journey. For example, when I first joined the company, we were in the process of taking over another bus operator – TUC. If I had not been sitting on the board, I would not have experienced the whole process. Albeit a very tiring process, it was certainly a rare experience. There is almost no limit to what we can do, but ultimately, it is up to us to decide if we want to put our heart into it.

How does the second generation work towards the continuity of this traditional business and enable it to grow and diversify?

I think the most important thing is to let the employees and clients see that there is a proper succession plan and continuity of the business. I think the second generation and professionals have provided this confidence to our clients and our employees that we are here to maintain the level of service and expectations that the first generation provided.

Over the years, we have helped to corporatise the company and employees do see that the company is growing. They see a clear career path and growth prospects. We are also very fortunate that even though my father and his two founding partners are not

WTS is not just a family business, but a business of three families.

Has this made the running of the business more challenging and complicated?

I beg to differ. Instead, many hands make the job easy. If you look at other family business, there are many examples of family members in dispute and end up bringing matters to court. So it is the managing of the relationship which is important. We are very fortunate that the three families are able to work together. Yes, we do have differences, so we have long meetings and discussions to iron out the differences. Once the board comes to a decision, everyone will work together towards the direction. Even if the project fails, everyone will treat it as a lesson learnt and there is no finger-pointing at each other.

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It is unique to our company that while we are not related, somehow the first generation founders are as close as blood brothers. The second generation grew up together, attended school together and all three families had even stayed in the same condominium estate before. That is how close we are.

Ultimately, it is most important that the company does well.

Recall your most memorable incident.

Once, the General Manager engaged Mr Voo’s help to pick up the spare bus to ferry some workers. My father then asked me to go along with him. He said: “If both our cars have enough seats to pick up all the workers, then we will just ferry them using our cars.” So we ended up sending the workers to work in his Mercedes-Benz S Class and my Toyota.

Once, my father lost track of time during a board meeting and it was past lunch time. The General Manager then asked if we could break for lunch but my father told him that he should fill his stomach before attending meetings in future. What the General Manager said next left all of us laughing. “Mr Voo, I filled my stomach before coming for the meeting but it is now lunch time!” It was quite funny but it simply showed how serious my father is when it comes to business.

With so many career options out there, especially with the glamorous lure of MNCs, are you concerned about attracting THE younger generation to the company?

I think this is a major concern of many employers out there. Even MNCs do have problems employing people. On the whole, we give our employees the trust and freedom. Even our professional manager doesn’t micromanage our employees.

I think we are now experiencing a shift in employees’ mindset, especially with the incoming wave of Gen Y employees. During a townhall dialogue with our employees, one of them told us that he is happy working in the company.

“My colleagues are my friends. Unlike my other friends in bigger companies, we are like a close-knit family and I don’t

In the Lead

face a problem applying for leave!” he said. When you work for a big company, you have so much work on hand that you sometimes have to stay back after work and even work on weekends. But when you work for a smaller company, the workload is less hectic and you get to finish your work and go home on time.

Looking at this trend, smaller companies might become popular among the younger generation. Yes, we do still strive for efficiency and productivity and my employees work very hard when we have big projects, but during non-peak periods, we ensure that they go home on time.

How do you manage changes in the company?

Before we change something, we speak to all the directors and HODs. It is important for us to get their views and support before proceeding ahead.

We don’t change policies overnight.

In fact, we do take quite a while before implementing changes because we need to ensure that any policy changes will minimise the downside. We believe that change is supposed to bring positivity, thus if the change will endanger our core foundation, then what is the point when we will have to rebuild our company again? Of course when certain policies have to be abolished due to one reason or another, there will be a transition programme for the employees, especially the older employees. I think many of our older employees want to change, but they have no idea how to do it. So we guide them along, and eventually they will be able to adapt to the new change.

Some people say that the second generation has it easier than the first generation because the foundation has been built. Do you agree?

While the foundation has been built, with the ever-changing business landscape and increasing competition, we need to continue to be on our toes to keep the business going.

Just look at how certain brands have been knocked out of the game.

In fact, I would say we face greater challenges and pressures. As one member of a second generation I met recently said: “If the company falls, I will be deemed as a wastrel!” When the first

generation started the business, they would probably just be responsible for themselves and their family. But for the second generation, we do not just answer to ourselves and our predecessors, we are also responsible for the livelihood of our employees who have families waiting for them to support. advice for those thinking of joining the family business They should. If you can be so successful in helping other companies, why not come back to help your parents? The sense of achievement may not be immediate and would probably kick in only after 10 to 20 years when you see how you managed to sustain or grow the family business, but the time you get to spend with your family is irreplaceable. Your bosses and colleagues come and go, but your family is always around, so I always feel fortunate that I was given the opportunity to join the family business.

While I encourage them to join the family business, I feel they should consider carefully before joining. They should not have the “try try” attitude because joining the family is not just about yourself, but also about the company and family’s reputation. As a second generation of the company, how will it reflect on the company if you decide to leave? Will employees have confidence in the company if the employer’s own child leaves the company? Also, working in the company is not just working with your family. There are also colleagues and shareholders, thus you do need to learn to be patient in managing the relationship with colleagues and shareholders. Respect is also very important. There are bound to be disagreements with your own parents when it comes to running the business.

However, we should always remember to hold our horses and not argue in front of everyone or just walk out of the meeting in a fit of anger. While the boss may be your father, he is still your boss in office. If you do not learn to respect your boss, how would you expect your employees to respect you in future?

国会里的企业心声

Business Voice in Parliament

No Sunset Industry, Only Sunset Thinking On Day 1 of the Budget Debate 2016 in Parliament on April 4, SCCCI President and NMP Thomas Chua urged the Government, trade associations and enterprises to play their respective roles in the ongoing economic restructuring.

Madam Speaker, Members of Parliament, good afternoon!

Firstly, let me declare that I am the President of the Singapore Chinese Chamber of Commerce & Industry.

When delivering the Budget Statement, Minister Heng Swee Keat quoted one sentence that I was particularly struck by. This was: “There is no such thing as a sunset industry, only sunset thinking!” The two points I will be raising today are centred on this sentence.

Firstly, e nterprises have to be mindful that there is no such thing as a sunset industry, only sunset thinking.

In general, people tend to term sunset industries for those deemed to have no future and where profits are not easily forthcoming. As a matter of fact, those so-called sunset industries could thrive as long as they clearly understand market changes, discover changes and address them, and succeed in restructuring and upgrading their industries. In this regard, local food processing industry, furniture manufacturing industry and garment fashion industry are examples of success. What they share in common is that their industry leaders are united, have vision, courage and determination; they seek a way out amidst changes and have the gumption to try. Not only have they led their industries from the bleak winter into the spring, but they also managed to uplift the image of the entire industry, hence attracting young people to join the industry, bringing with them new ways of thinking and new ways of doing things.

Given the rapid changes in the current business environment, bottlenecks could occur in the development of any industry.

Even those industries which are doing fairly well now may face new

challenges five or ten years down the road. Traditional industries are mainly involved in the areas of clothing, food, accommodation and transportation; they will continue to have demand even when time evolves. We live in an era where Infocomm Technology is already a norm. However, some shops still operate like before by waiting around for customers to drop in, hence have little business; some industry players adapt to the change by using online sales to expand their market reach, and do very well. Just as mindset influences thinking, thinking determines the solution. Whenever changes appear in the marketplace, enterprises need to embrace their customers’ needs, make adjustments to their business model and undertake necessary transformation.

In the past few years, the government has provided many assistance schemes to support enterprise transformation and productivity improvement. However, it is essential for enterprises to be self-reliant. Hence, government assistance cannot be viewed in terms of whether it is sufficient but whether it is truly effective. The problem is, some industry players have no confidence in their own industries. This kind of mindset is in fact sunset thinking, which would sooner or later lead to their elimination.

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国会里的企业心声

Business Voice in Parliament

“I really hope to see that the government could obtain an in-depth understanding of industry development processes and needs, to avoid wrongly interpreting the situation and trends DURING THE PROCESS OF structural adjustments. To the officials, any small misinterpretation IS JUST A concept, but to the enterprises it is tantamount to wasted time, manpower and resources, which may not be reversed.”

—— SCCCI President Thomas Chua

Secondly, government officials need to be mindful that there is no sunset industry, only sunset thinking!

Minister Heng Swee Keat announced that in order to support the Industry Transformation Programme, and strengthen the coordination among government agencies, the government will be setting up teams comprising the officials from EDB, SPRING Singapore, IE Singapore, A*STAR and WDA, to develop road maps for each economic sector. This is a very good beginning.

I hope that when government officials gauge industry potential, they should not only measure the pace of growth and economic contributions but also consider the social functions as well. Even as we emphasise creating value-add, we should not ignore the value of their existence. Having been in business for many years, I am deeply aware that traditional industries that wish to innovate and achieve growth, will encounter countless bottlenecks.

However, for these traditional industries, the value of their existence lies in being able to survive well, and service the society at large.

We should realise that industry development has its own rules and process. Transformations also take many different forms. Some gradually evolve, some involve major reforms while some undergo complete

changes altogether. The role of government officials in economic transformation is to gather resources and promote industry development through policies. Therefore, I hope that government officials could understand the uniqueness of each industry, and be open-minded and inclusive in guiding industry transformation. They should not have preconceived notions on the industry potential. While some of these methods worked in the past, they may not necessarily be effective in the future.

As Minister Heng has said, industry transformation is a very long-term strategic plan, and the crux is how to implement this plan. In this regard, the collaboration among enterprises, as well as the close partnership among enterprises, TACs and government agencies, is of great importance. I really hope to see that the government could obtain an in-depth understanding of industry development processes and needs, to avoid wrongly interpreting the situation and trends during the process of structural adjustments. To the officials, any small misinterpretation is just a concept, but to the enterprises it is tantamount to wasted time, manpower and resources, which may not be reversed.

In this year’s Budget, the government has rolled out a $4.5 billion Industry Transformation Programme to help

enterprises. It has also affirmed the contributions of TACs. TACs have intimate knowledge of their specific industries, and moreover have industry leaders with deep experiences in restructuring. This would be able to help their member companies effectively.

Singapore’s public services standards and efficiencies are world famous.

In the past, Singaporeans have benefited from the 3P model, which is the close cooperation among the government (Public), citizens (People) and enterprises (Private). During this period of economic restructuring, we need to build up the PPT model, and fully optimise the strength and advantages of the government (Public), enterprises (Private) and trade associations (TAs), integrating all kinds of ideas, concepts, and methods. In this way, transformation and driving up productivity would not only be the objective of the government, but also the common target of the government, enterprises and trade associations. With this common goal, the effectiveness of the implementation process would be greatly improved.

This is the English translation of President Thomas Chua’s speech delivered in Mandarin on April 4 during the Budget Debate in Parliament.

Translation: Fiona Hu

狮城经贸

Economic Review

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Budget 2016: A Well-balanced Budget By: Lee Sin Poh

DBS Senior Economist Irvin Seah and PwC Corporate Tax Partner Lennon Lee shared their insights on what the 2016 Budget means for businesses in their ongoing quest to restructure.

Focus More on Top-line Growth In the post-Budget seminar held by SCCCI on April 1, DBS Senior Economist Irvin Seah commented on the recently announced Budget as one that is marking a new phase of restructuring which businesses should feel optimistic about.

From two perspectives, he complimented Budget 2016 as being a well-balanced one: It is well-balanced between medium-term and near-term targets, and between strengthening social safety net and enhancing businesses’ interests.

In contrast, the previous years’ policies might have focused excessively on social expenditure and long-term targets.

Near-Term Focus

Medium-term focus

Corporate Income Tax rebate: Offset cost burden of companies

Industry Transformation Programme

Special Employment Jurong Innovation Credit: District Ensure employability of older workers SME Working Capital Loan: Help companies in liquidity problem

SG-Innovate

A well-balanced budget focusing on both near-term and medium-term targets.

challenges in attracting foreign MNCs’ investment due to its ageing profile. In particular, he shared that Singapore’s population and workforce growth will start declining by 2025, assuming there is no immigration. For instance, the resident population leaving the workforce will exceed those entering.

DBS Senior Economist Irvin Seah sharing his insights on the recently announced Budget 2016.

He highlighted that the current Budget is addressing businesses’ top-line growth, which is certainly a positive step from the Government.

In particular, he pointed out that cutting cost by reducing manpower is not a long-term business solution, as companies need to look for growth strategies and growth opportunities to build a more sustainable business.

“The restructuring is different in this Budget. There is no further tightening of foreign labour policy, other than the hike in foreign worker levy which in fact should have taken place last year. In the current Budget, the Government has focused on something more important – top-line growth.”

Local Companies are the Future of Singapore Irvin Seah also shared his take on this Budget, and what it means for the nation.

He said that the Singapore economy has depended heavily on multinational companies (MNC) and Foreign Direct Investment (FDI) since independence.

But going forward, there might be more

Consequently, the medium age group will have to face heavier financial burden to support the increasingly older population. Social welfare expenditure for senior citizens has been rising significantly in recent years. The introduction of the Pioneer Generation Package and Silver Support Scheme in the previous and current Budget are some examples.

To overcome the challenges, Singapore has to develop its local companies to become global players. It is important to encourage local companies to innovate, gain competitive edge, and to internationalise. He concluded that local businesses are highly relevant to the future of the nation and society.

“The Budget has focused a lot on local companies because they are the future of this country. They will bear the responsibility of spearheading Singapore’s longer-term growth.”

– Irvin Seah, DBS Senior Economist

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Economic Review

(From left) PwC Tax Partner Lennon Lee, Group Director for Capabilities and Partnership & Quality Service Manager of SPRING Singapore Simon Lim, and Chairman of SCCCI’s Research and Publications Committee Charles Ho Nai Chuen Interacting with the participants of the seminar.

PwC Tax Partner Lennon Lee highlighting the impacts of disruptive technology.

Winter is Coming Besides longer-term structural issues, the near-term outlook for the economy remains challenging. For instance, the manufacturing sector contracted by 5.2 per cent in 2015, the worst performance thus far since the Dot.com burst in 2001, mainly due to the slump in China’s demand.

A Scrutiny of Budget Measures In the seminar which attracted 110 participants, PricewaterhouseCoopers (PwC) Tax Partner Lennon Lee also shared his insights on several Budget measures:

He said that the manufacturing sector is already in a structural decline. While the GDP share of the manufacturing sector had always been around 20 to 25 per cent, it has fallen below that range in the past three years, owing to regional competition and offshoring of MNCs due to persistent cost increases.

• SME Working Capital Loan has been introduced for loans of up to S$300,000 per company. Despite the Government’s promise to co-share 50 per cent of default risk with participating financial institutions (PFIs), the decision for loan approval is still up to the bank. Hence it remains questionable whether companies which have not been performing well in the past few years would face difficulty in accessing the loan. SME applicants also need to be registered in Singapore and have at least 30 per cent local shareholding to apply for the loan.

Businesses should also be aware that external risks will continue to intensify.

For instance, the People’s Bank of China (PBOC) devalued Yuan twice in last August and this January. That had caused significant volatility in the equity market. And risk of further interest rate normalisation the US may exacerbate monetary policies divergence, resulting in even greater uncertainty in the global economy. Despite coordinated efforts from the major central banks, such as postponing rate hike and maintaining ultra-low interest rates, the current stability in the markets will not be sustainable as inflation is rearing its head again in the US. That may force the US Fed to hike.

• Corporate Tax Rebate has been increased from 30 per cent to 50 per cent, with the same cap of $20,000, which means businesses would be able to enjoy the maximum rebate at a lower profit. However, companies which are not profitable would not benefit from this policy.

• Automation Support Package (ASP) is designed to benefit more SMEs on their productivity quests, in which SPRING Singapore’s Capability Development Grant (CDG) will be expanded to support automation projects with up to 50 per cent of funding, capped at $1 million. However, Lennon reminded that pushing automation too hard might affect the employment market. As automation might come into effect much more quickly than workers could be reskilled, a balanced approach is required.

• Business Grant Portal is introduced as a one-stop shop for grants, but there is a need to reorganise the schemes in the new portal to make them more comprehensible for applicants.

He also urged businesses to transform proactively to adapt to the fast-changing world fraught with disruptive technology. “The Committee of Future Economy (CFE) is expected to give its recommendations at the end of the year, but the Finance Minister may need to do something earlier than later (through the Budget). There are too many disruptions in the world, such as Uber and Airbnb...

Maybe in a few years, Google’s self-driving car will come in and we don’t even need taxis.”

区域经济

Regional Files

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A Brief on the “Silk Road Economic Belt and 21st Century Maritime Silk Road” Contributor

Suan Teck Kin Economist, Global Economic & Market Research, United Overseas Bank group (UOB)

Embarking on an Ambitious Project: Connectivity, Integration, and Cooperation

China President Xi Jinping first mooted the “Belt and Road” initiative in September/October 2013.

This ambitious strategy, based on the two ancient trade routes, aims to develop a land-based Silk Road Economic Belt through western China starting from Xi’an, and the 21st Century Maritime Silk Road, which begins from Fuzhou via the maritime route. In addition to historical context, this project should be seen as an extension of China’s plans to develop the western, land-locked part of the country, which is lagging far behind the coastal provinces.

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As can be seen in the map below, the “Belt and Road” project envisages a seamless connectivity between China and Asia, Africa and Europe, via land-based or maritime routes, with increased integration and cooperation with the Asian, African and European continents. The plan fits in with China’s economic, security, military, and diplomatic strategy. The Silk Road Economic Belt focuses on bringing together China, Central Asia, Russia and Europe (the Baltic); linking China with the Persian Gulf and the Mediterranean Sea through Central Asia and West Asia; and connecting China with Southeast Asia, South Asia and the Indian Ocean. The 21st-Century Maritime Silk Road goes from China’s coastal region to Europe through the South China Sea and the Indian Ocean in one route, and from China’s coast through the South China Sea to the South Pacific in the other. Specifically, for the maritime segment, “Belt and Road” will focus on jointly building smooth, secure and efficient transport routes connecting major sea ports along the route, and will involve the China-Pakistan Economic Corridor and the Bangladesh-China-India-Myanmar Economic Corridor.

Source: Wall St Journal http://www.wsj.com/articles/chinas-new-trade-routes-center-it-on-geopolitical-map-1415559290

Motivation for “Belt and Road” Why would China commit the resources for such a bold project? We believe that there are three main considerations: Long-term strategic requirements: As the world’s top trading nation, China needs to ensure that it has timely, efficient, and secure access to markets and resources, and therefore facilitation of trade and investment is one key focus. In addition, it should not be surprising that securing conventional and renewable energy and resources is another focus for China. Once completed, “Belt and Road” will provide land-based and sea-based alternatives not just for China accessing to the continents, but also access for other countries to China.

Transport link is a critical consideration for China, as it is vulnerable to choke points along its sea route. Such threats would be mitigated once land-based alternatives including railroads, highways, and communication links are in place.

Near-term economic reasons: More immediately, “Belt and Road” also provides new markets and business opportunities for the country to deal with its excess industrial capacity especially for its debt-laden state-owned companies.

In addition, after three decades of breakneck economic development, Chinese companies are now more capable of competing for businesses with its overseas competitors, given the rise in technological sophistication and

maturity. Note that countries in the “Belt and Road” initiative account for 63 per cent of the world’s population and 29 per cent of global GDP. Trade between these countries and China reached more than US$1 trillion in 2014, or 26 per cent of China’s total trade value.

Financial capability: China’s financial capability has also increased significantly to fund such a venture, given that its stock of foreign exchange reserves at US$3.73 trillion (~32 per cent share of world’s total) is the largest in the world, and its four largest domestic Chinese banks (Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, and Bank of China) are also the

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world’s top four largest in 2015, according to a Forbes review in June 2015 based on a composite score of revenues, profits, assets and market value.

“Belt and Road” is Already in Motion Political support: How sustainable is the “Belt and Road” initiative? Political support in China appears to be firm, as the Third Plenary Session of the 18th Central Committee in November 2013 called for accelerating infrastructure links among neighbouring countries and facilitating the “Belt and Road” initiative. The chief advocator is none other than China President Xi Jinping.

NDRC, Ministries of Foreign Affairs and Commerce are the ministries responsible, led by senior, heavyweight political leaders including Vice Premier Zhang Gaoli, Vice Premier Wang Yang, State Councillor Wang Jiechi, among others. To underscore its seriousness, the Chinese government in March 2015 released a “vision and actions plan” for the project.

Financing channels: Secondly, the main financing platforms are falling in place, starting with the Silk Road Fund in February 2015 with US$40 billion, of which 65 per cent was from China’s foreign exchange reserves, 15 per cent from sovereign wealth fund China Investment Corp, and the remaining 20 per cent from state-owned Export-Import Bank of China and China Development Bank.

This is followed by the establishment of the Asian Infrastructure Investment Bank (AIIB), with 57 countries as its founding members, including 16 of the world’s 20 largest economies on board, after the March 30 2015 deadline. The United States, Japan, Mexico and Canada remain absentees citing concerns of lack of transparency, lending and environmental safeguards, governance, and China’s influence. AIIB members voted at a meeting in Singapore on May 22 2015 to double the capital to USD$100 billion, with China expected to hold a stake of more than 25 per cent in terms of voting rights. In contrast Asian Development Bank (ADB) holds US$5.9 billion of capital and a loan portfolio of US$75 billion. This means that once AIIB’s capital is fully subscribed, it could

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potentially lend up to US$1.27 trillion, which is in a relative stronger position than ADB as China’s Ministry of Finance estimated earlier that, over the next 10 years, financing needs for infrastructure development in Asia amounted to US$700 billion per year. Another less prominent financing vehicle is the New Development Bank, commonly known as the BRICS bank, which was established in July 2014 with authorised capital of US$100 billion and to be based in Shanghai. The institution is to be headed for the first five years by non-executive chairman of ICICI Bank, KV Kamath, who will then be succeeded by a Brazilian and then a Russian. The BRICS bank will be used for infrastructure financing and sustainable development project funding within the BRICS nations, though other low- and middle-income countries will be able to access loans as well. Note that financial integration is among the key planks in the “Belt and Road” Initiative and we anticipate RMB to play a significant role, helping to push RMB internationalisation further. As China opens up its capital account, there will be more opportunities for companies and FIs along the route to raise funds by issuing RMB bonds in China, while Chinese FIs and companies are also expected to increase its bond issuance in both RMB and foreign currencies outside China, and use the funds in countries along the “Belt and Road”.

Projects underway: Looking at some of the examples below, the “Belt and Road” project is already taking shape quickly, at least at this early phase, as a number of projects are being operationalised or undergoing studies.

It should be noted that most of these projects are infrastructure in nature, which is the nature at this early stage.

Some recent examples: • The building of a China-Pakistan Economic Corridor (CPEC) – a network of roads, railway and pipelines between the two countries, announced in April 2015. A superhighway is planned to run some 3,000 Km from Gwadar in Pakistan to China’s western Xinjiang region. China is expected to inject a total of US$46 billion for the CPEC project, just a little less than three times the entire foreign direct investment

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Pakistan has received since 2008.

• A bridge over the Danube to be financed and built by the Chinese in Belgrade.

• Two nuclear power plants will be built in Romania, under a “binding and exclusive” agreement with China.

• China is building a high speed rail connecting the southeastern tip of Europe with the central part of the continent. Hungary in early June signed an MOU with China to promote the One Belt, One Road proposals, the first European country to do so.

While these infrastructure projects are designed to be joint ventures with local host countries, one observation is that often the bulk of the materials and labour force come from China, and financed by China banks.

Conclusion China has embarked on an ambitious undertaking in a bid to integrate further with the global economy, and to secure access to markets and resources.

This connectivity is reflective of its rising role as a political and economic power in the next decades. Cooperation is needed, and not guaranteed, from countries along the “Belt and Road”, though investment in infrastructure is likely to bring benefits to those involved. Business opportunities are also likely to arise, as incomes and livelihood improve. ASEAN economy and businesses should benefit directly, being part of the Maritime Silk Road, which will accelerate the already close trade and investment linkages between the two sides. The probability of success for this initiative looks to be high as long as China’s political support continues. Financing is falling in place with the establishment of the Silk Road Fund and the AIIB which saw 16 of the world’s 20 largest economies as founding members, and backed by China’s foreign exchange reserves. However, the Initiative will be subject to challenges along the way including domestic factors, opposition/resistance from countries along the routes, geopolitical developments, and technological advancements, among others.

Vision and Actions on Jointly Building Silk Road Economic Belt and 21st-Century Maritime Silk Road, the National Development and Reform Commission, Ministry of Foreign Affairs, and Ministry of Commerce, March 2015.

This article was first published in United Overseas Bank’s Quarterly Report 3Q2015. The article is reproduced with the permission of the writer, Suan Teck Kin, Economist for Global Economics & Markets Research at UOB in Singapore.

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ASEAN Integration: Reality or Mirage ?

By: Lee Sin Poh

In December 2015, 10 ASEAN member states have come together to form an ASEAN Economic Community (AEC) which envisions further economic integration. But what does this mean for Singapore companies and their counterparts across the region, and what are the hidden challenges in this quest for regional integration? Combining his experience and expertise in both the civil service and private sector, the CEO of Credit Suisse Singapore, Lito Camacho, shared his insights on the AEC. With a population comprising more than 600 million and being the world’s 7th largest economy, the establishment of AEC in December 2015 has become a topic of high interest in the business community. During a seminar coorganised by SCCCI and Credit Suisse on April 12, Lito Camacho shared his insights on the AEC.

Irreversible Megatrends in ASEAN In the sharing session, he pointed out five irreversible megatrends going on in the region, including urbanisation, rise of consumption ability, infrastructure development, emergence of high-net-worth community, and emergence of Asian MNCs and brands.

1. Urbanisation Within two decades (1990-2010), 110 million people or more than one-sixth of ASEAN’s population had moved to urban areas, creating huge market demand and business opportunity in the region.

2. Consumption Despite having been known as the world’s factory with its cheap labour over the decades, the new Asian story has already become “Consume in Asia” instead of “Made in Asia”. Many new industries are now being created in the new paradigm.

3. Infrastructure Despite less notable growth in Singapore, other developing countries in ASEAN such as the Philippines, Vietnam and Cambodia are experiencing rapid infrastructure development.

Jose Isidro N. (Lito) Camacho is the Managing Director of Credit Suisse Asia Pacific and CEO of Credit Suisse Singapore. He is also a former Secretary of Finance for the Philippines, assuming office from 2001 to 2003.

4. Emergence of the Asian-Rich Southeast Asia has a growing high-net-worth community, which is transforming its consumption landscape with rising demand and market for lifestyle products. For instance, Singapore itself is one of the countries with the highest number of millionaires in the world.

5. Asian MNCs and Asian brands The landscape of western MNCs’ dominance is changing as more Asian MNCs and brands are emerging in the region, examples of which include DBS and AirAsia. Western brands acquired by Asian companies such as Jaguar (acquired by Tata Motors from India) are performing well too.

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Objectives and Constraints Nevertheless, despite its fast-growing profile, Mr Camacho pointed out several constraints which might impede integration of the economic community, as they did in the past. In particular, only very little has been achieved today among the five objectives envisioned by the AEC blueprint in 2007, including free flow of goods, services, investments, capital and skilled labour. These constraints include lack of commitment among member states, uneven stakes and benefits, geopolitical complications and inefficient communication strategy.

Five Freedoms Envisioned in AEC 1. Goods Free flow of goods is actually an old agenda of ASEAN, and has already been highly accomplished since the ASEAN Free Trade Area (AFTA) agreement was signed in 1992, which brought tariffs down to nearly zero per cent.

2. Services The community’s achievement is very limited, other than in the air transport sector, given the ASEAN Open Skies policy.

3. Investment Inflow of foreign investments is still restricted into ASEAN owing to protectionism in some of the member economies. For example, some countries reduced the foreign ownership limit in some sectors like banking in Indonesia. Most if not all ASEAN jurisdictions also do not distinguish ASEAN investments from other non-ASEAN foreign investment.

4. Capital This area is also lacking in progression. For example, an intraASEAN stock-trading procedure still needs to go through the conventional international broker service.

5. Skilled Labour The flow of skilled labour remains restricted. For example, Singapore has tightened its foreign labour policy in the recent years.

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Constraints for ASEAN and AEC 1. Lack of Commitment ASEAN affairs are not a priority to many of the members. There is currently more discussions than concrete plans. ASEAN leaders also share a culture of peace and they tend to avoid having confrontation with their neighbours, especially when there are differences in opinions.

This has caused slow progress in developing the ASEAN agenda.

2. Geopolitical Complications Foreign policies of many ASEAN members are driven by a bilateral relationship – their relationship with US or China, instead of being ASEANcentric. Many of them address the need to choose sides between the two giants. For example, Cambodia values its relationship with China while many other members are having disputes with it over South China Sea sovereignty, such as the Philippines.

3. Inefficient Communication Strategy As the ASEAN identity has not been adequately emphasised in the member states, the people have a lack of understanding on how the community integration could benefit them or differentiate them from other foreigners. For example, an ASEAN job applicant shares similar status as another foreigner from Europe or US in the Singapore job market. Foreign visitors are also required to apply separate visas for different ASEAN countries, instead of a single ASEAN visa resembling the case for some European countries.

4. Uneven stakes and benefits There are difficulties of putting all members under the same roof, partly due to uneven development stages, different resources and competitive advantages in different member states, which include highly-developed nations such as Singapore, semi-developed ones such as Malaysia and Thailand, and some others in the emerging phase. These members might not be able to enjoy equal benefits from the integration.

Therefore, despite the FTA agreement which has realised nearly zero tariffs, some countries would still be practising protectionism by imposing other restrictions, such as licenseapplication fees.

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Practical Goals: Freer Flow of Capital, Investments and Talents Mr Camacho went on to elaborate on how the ASEAN community should address these issues.

In recent years, the European Union (EU) has been facing issues derived from their integration such as in the case of Greece’s defaults and Brexit, as the member states had lost their tools to restructure individually.

Raising that as a counter example, Mr Camacho does not expect a highly-integrated ASEAN with unified currency and central bank, but advised the ASEAN community to focus on more practical goals such as removing restrictions for foreign investments and promoting flow of skilled labour or talents, so as to promote their developments.

For example, he saw that Singapore is currently still facing a constraint of talents in the bid to thrive as a global financial centre. Hence the recommendation that Singapore, while advocating to develop a Singaporean core in the workforce, should remain flexible and open to global talents of different skillsets, languages and cultural competencies.

On the other hand, as geopolitical issues and disputes are usually long-lasting and could take generations to resolve, he recommended that the member states should look for common grounds amidst such confrontations. For example, Malaysia and Thailand once had territorial disputes over the Gulf of Thailand, but they eventually signed an agreement that allows joint economic development in the gulf. Oil and gas production has then been shared by the two countries. In the private sector or commercial level, some banks and institutions have even taken the lead to scale up regional integration, without waiting for higher achievement of political unity. For instance, some conglomerates have adopted an ASEAN strategy – to focus on developing only the ASEAN market and not beyond that.

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Chamber Communit y

追随伟人足迹 01

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今年3 月 23 日是建国总理李光耀先生逝世一周年纪念日。总商会当天 举办了“323 华商传承李光耀精神”快步走活动，呼吁国人以实际行动传承 建国总理自强不息的精神。 活动在早上七点半开始。总商会董事、会员、管理学院学员等约500人身 穿印有“华商传承李光耀精神”字样的T恤衫，从乌节路总统府公园启程，途 经李光耀故居附近，象征着追随伟人足迹；路线以李光耀先生在1964年亲自 揭幕的总商会大厦为终点，勉励华商在过去所建立的基础上再接再厉，为国 家发展继续贡献力量。步行路线全程约2.8公里。 活动于早上九时结束，参与者照常回到工作岗位，继续为国家与社会发 展献一己之力。

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1. 参与者一行人途经李光耀故居附近的 欧思礼岗（Oxley Rise）。前排右起 为蔡其生会长、张松声前任会长、黄 山忠副会长及研究与出版委员会何乃 全主席。 2. 天未拂晓，参与者已在总统府公园的 展示板上阅览李光耀的生平事迹。 3. 参与者在出发前进行热身运动。 4. 致辞中，蔡其生会长勉励华商传承李 光耀精神。