CHINESE ENTREPRENEUR
专访吴淑敏
Interview with Cindy Goh Su Min
14
璀璨30 · 开创未来
Building Legacies; Igniting Futures
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Forging Ahead with Prudence and Boldness
In his inaugural National Day Rally speech, Prime Minister Lawrence Wong shared that the 4G Government will adopt a “prudent and bold” approach in their polices, respecting and upholding the fundamentals while not letting the past constrain our ability to innovate and shape the future. Following this, our Government introduced a series of policies to raise fertility rates, ramp up housing supply, enhance mother tongue education and ensure a business-friendly environment.
The business community deeply appreciates our Government’s commitment to simplify regulations to help reduce business costs, with the recent announcement of the establishment of the “Small and Medium-Sized Enterprises Pro-Enterprise Office”. Furthermore, with cooling inflation and interest rate cuts, businesses ought to prepare themselves to seize opportunities, both at home and abroad.
In this edition of Chinese Entrepreneur, Meiban Global’s CEO Cindy Goh and PMAS President Josephine Low share invaluable insights on business transformation. We also revisit the highlights of SCCCI’s International Women’s Day 2024 Conference and Dinner.
The success of Singapore, our Little Red Dot, is built on the unity and hard work of all Singaporeans. To stay ahead, we must not rest on our laurels. I urge all of us to foster a spirit of resilience. As we build on the firm foundation laid by our forefathers, let us forge ahead towards a greater and more inclusive “New Singapore Dream”!
Kho Choon Keng, SCCCI President
MOULDING IDEAS AND SHAPING
SUCCESS IN MANUFACTURING
with Cindy Goh Su Min, CEO of Meiban Global Pte Ltd
Interview
制造业仍然是一个重要的行业，它 的驱动力来自客户服务、技术创新 和营运效率。随着行业的发展，我 们如何实现这些价值主张将受数字 化、自动化和新一代人才所引导。
Manufacturing remains an essential industry, driven by customer service, technological innovation, and operational efficiency. As the industry evolves, how we deliver on these value propositions will be reshaped by digitisation, automation, and a new generation of talent.
吴淑敏是铭板国际有限公司的执行总裁, 也是 Oribel (艾丽贝尔) ，一家创造独特育儿及婴童产品品牌的创始人。
Cindy Goh is the CEO of Meiban Global and also the founder of Oribel, a parenting and innovative baby products brand.
铭板是一家备受信赖的制造商，
产品涵盖消费品、医疗设备、汽车 零部件、儿童用品，及能源解决方案，在 新加坡、马来西亚和中国拥有16个生产 基地。
铭板最初由吴淑敏的父亲吴中庸与 日本合作伙伴大阪铭板（也称为大铭）， 于1987年合资创立，最初是一家新加坡 的塑料模具公司。在本期《华商》专访 中，吴淑敏分享她领导铭板特殊业务多 年的经验，并揭示了制造业的挑战和机 遇，以及推动成功的创新战略。
Meiban is a trusted manufacturer of consumer products, medical devices, automotive components, juvenile products, and a provider of energy solutions, operating 16 production sites across Singapore, Malaysia, and China.
Founded in 1987 as a joint venture between Cindy Goh’s father, Mr George Goh, and a Japanese partner, Osaka Meiban (also known as Daimei), the company began as a modest plastic moulding business in Singapore. In this edition of Chinese Entrepreneur, Cindy Goh shares insights from her years leading Meiban’s special businesses and sheds light on the challenges and opportunities within the sector, as well as the innovative strategies that have driven success in manufacturing.
答：铭板国际是铭板集团旗下的特殊业务部门，成 立于2015年，致力于推动集团的多方面发展，包 括更深入专注新业务部门，同时保持核心业务的完 整性。
如许多初创企业一样，我们面临的挑战十分 艰巨。我们的石油与天然气部门于2010年成立， 而我在2015年接管该部门时，正值石油危机期 间，订单几乎为空。在没有额外资助的情况下， 我和团队克服了多重危机，先是2015年的石油 危机，接着是2020年因疫情导致的第二次石油 危机。值得感到自豪的是，我们成功克服这些挑 战，并从中获得更广泛的客户群，也开始供应更 多元化的产品种类。
我的职责还包括管理我们在中国的制造工厂， 其生产面临着来自美中地缘政治紧张局势的多重威 胁，以及来自本地和全球对手的激烈竞争。在过去 五年里，我们重点整合资源，确保我们的业务能 够在这个多变的环境中保持高效、高竞争力。从 2001到2008年，我带领了中国工厂的扩张工作。
通过这些经验，我认识到一位优秀的领导者必须懂 得何时推动增长，何时引领团队进行整合。
另一个里程碑是在2015年推出的婴儿产 品品牌Oribel。我们已经在为Evenflo、康贝 （Combi）和UPPAbaby 等知名品牌生产制造几 十年的产品，并决定发挥优势，创建属于自己的品 牌。Oribel在推出的第一年内，迅速进入了美国 主要零售商，如塔吉特百货公司、宝宝反斗城与美 联宝贝，以及30多家高端精品店。这种既是制造 商又是品牌商的双重体验，给予我们宝贵的视野和 创造能力。
同时经营制造与品牌业务带来了新的机遇，不 过确保双项业务的保密性和专业性得到谨慎管理变 得更加重要。这也正是我们与客户成功建立合作伙 伴关系的关键因素。
Q: What are some milestones and challenges in the last ten years when leading Meiban Global?
A: Meiban Global, the Special Business division of Meiban Group, was established in 2015 to drive multi-faceted growth for the Group by bringing deeper focus on our newer business divisions, while maintaining the integrity of our core business.
As with many startups, the challenges are steep. Our Oil & Gas division was started in 2010 and when I took over this division in 2015, it was right in the midst of the oil crisis, and our order book was nearly empty. Without additional financial support, my team and I navigated through multiple crises, first the 2015 oil crisis, followed by the 2nd Covid oil crisis in 2020. We are proud to have successfully overcome these challenges and emerged stronger, with a broader and more diversified customer base and product offerings.
My portfolio also includes our China manufacturing facilities, which face significant threats from geopolitical tensions with the U.S. and intense competition from both local and global players. The last five years have been focused on consolidation, ensuring our operations remain efficient and competitive in this volatile environment. Having led the expansion of our China facilities between 2001 and 2008, I’ve learned that a good leader must recognise when to drive growth and when to guide the team through consolidation.
Another milestone for us was the launch of our own baby product brand, Oribel, in 2015. After decades of manufacturing for renowned brands like Evenflo, Combi, and UPPAbaby, we decided to leverage our expertise to create something of our own. Oribel quickly found its way into major U.S.
吴淑敏于2001至2010年间担任超过七间铭板位于中国的工厂厂长。目前，她负责中国的业务运营，包括位于中山的工厂。
Cindy Goh was the plant manager for more than seven different plants at Meiban in China between 2001 and 2010. She is currently running China operations, including one in Zhongshan.
Oribel品牌在推出的第一年里就进入美国市场，其产品在美国三大零售商处销售。
Oribel entered the U.S. market in the first year of its launch, with its products sold at three of the largest U.S. retailers.
retailers like Target, Babies”R”Us, and buybuy BABY, as well as over 30 premium specialty stores within the first year of launch. This dual experience—being both a manufacturer and a brand owner—has provided us with valuable perspectives and capabilities.
Navigating both sides of the business brings new opportunities but requires careful management of confidentiality and professionalism, which has been key to our success in maintaining strong partnerships with our clients.
of geopolitical volatility, particularly trade tensions, directly impact sales and operations strategies. When planning to set up a new plant or expand into new markets, businesses must take a long-term view. Misalignment between risk and opportunity timeframes makes it difficult to make sound, strategic decisions.
In an increasingly polarised world, diversification is essential to mitigating both political and economic risks. One of our core strategies is to leverage partnerships for expansion while maintaining an asset-light model, allowing us to pursue growth with less exposure to direct risks. This collaborative approach helps derisk our expansion strategy while positioning Meiban Global to be more agile and responsive to shifting global trends.
答： 走入2024年底和2025年，宏观的经济格局将 展现重大挑战。全球经济疲软以及地缘政治不稳定 的持续，特别是贸易紧张局势，直接影响销售和运 营战略。在规划建立新工厂或扩展到新市场时，企 业必须考虑长期观点。一旦风险与机遇时间框架有 偏差，就不容易做出明智的战略决策。
在一个日益两极分化的世界中，多样性是缓解 政治和经济风险的一大关键策略。我们的核心战略 之一是通过合作伙伴关系扩展业务，同时保持轻资 产模式，让我们能够在追求发展的同时，减少直接 面对的风险。这种协作方法有助于降低我们扩展战 略的整体风险，同时定位铭板国际为一个能够迅速 应对不断变化的全球趋势的一家灵活企业。
Q: How would you describe Meiban Global’s growth against the backdrop of global manufacturing and retail trends and crises?
A: The macroeconomic landscape heading into late 2024 and 2025 presents significant challenges. A weaker global economy and the continuation
答：我们有四大可持续发展支柱。
首先是建立安全健康的环境。我们设施和产 品中使用的所有材料均符合美国和欧洲关于有害 物质的最高安全与环境标准。我们的中国工厂还 配备了水处理和挥发性有机化合物收集与处理设 备。这不仅意味着健康的员工队伍，还意味着更 洁净的地球。
再来是消除制造过程中的浪费。精益原则已深 深融入我们的流程中，通过价值工程实践，我们不 断在消除浪费。
另一点是减少碳排放，降低对传统能源的依赖 并提高能源效率是首要任务。我们正努力在中国工 厂的屋顶全面铺设太阳能电池板，也在向节能设备 过渡，将液压设备替换为电动版本。这样，能源消 耗可以减少一半到三分之二。
最后但同样重要，我们还与供应商合作开发生 物塑料，并使用消费后树脂以减少碳足迹。我们使 用专门的材料来生产耐用商品，以增强商品的耐用 性和性能。虽然这让开发符合我们要求的生物树脂 更加困难，但我们致力于寻找解决方案。
铭板中国工厂将太阳能板安装在屋顶上，以采用替代性能源。
To adopt alternative energy source, Meiban has solar panels placed on the roof tops of their plants in China.
Q: How has Meiban Global embraced sustainability?
A: We have four pillars of sustainability. Firstly, building a safe and healthy environment. All materials used in our facilities and products meet the highest US and European safety and environmental standards on hazardous substances. Our facilities in China are also equipped with water treatment and VOC (volatile organic compounds) harvesting and treatment equipment. This means a healthy workforce and a cleaner planet. Secondly, eliminating waste in manufacturing. Lean principles are ingrained in our processes, and we constantly target waste elimination through value engineering exercises.
Thirdly, carbon reduction. Reducing dependency on traditional energy sources and improving energy efficiency are top priorities. We’re working on fully covering our rooftops with solar panels at our China plant. We’re also moving to energy efficient equipment, replacing our hydraulic machines with electric versions, which cut energy usage by half to two-thirds.
Last but not least, we are also collaborating with vendors to develop bioplastics and use post-consumer resins to reduce our carbon footprint. We manufacture durable goods, using specialised materials for durability and performance. This makes it harder to develop bio-resin that meets our requirements. However, we’re committed to finding solutions.
答： 我负责管理多个团队。我们的品牌团队 Oribel非常国际化。有一次，在一个八人的小团队 中，大家各别来自五个不同国家。我们相信多元性 应超越性别和国籍界限。
当新冠疫情爆发时，它迫使我们快速应对突如 其来的变化。整个团队，包括财务部在内，迅速转 向了全面线上运作模式。当边境封锁导致家人分隔 两地时，我们允许员工在确保与新加坡工作时段有 至少五小时重叠的前提下，远程在他乡工作。
这种转变初期带来了不少挑战，尤其是人力部 门在管理跨时区的团队和不同公共假期时，以及信 息技术部门为维持系统安全和服务器连接时面临的 难题。团队还需要适应在虚拟平台如Teams上进
行合作与创意构思，而不是面对面的会议。 尽管如此，我们拥抱新的工作安排，取得了 积极的成果。如今，我们能够吸引更广泛的 国际人才加入，同时也提升了员工的工作与 生活平衡。
在这种新工作模式中，成功的要素是责 任感和表现评估。员工工作表现不再以工作 时长或出勤率来衡量，而是成绩、效率与达 成的目标。这要求管理层和员工转变思维， 多注重效果而不是工时。
当然，人力资源政策必须符合各地区的 文化。在一些国家，员工福利可以激励职 员，而在另一些国家，对工作的满意程度和 生活平衡更为重要。人才是企业成功的基 石，管理人才需要针对各个地区采取定制化 的策略，以满足员工多元化的需求。
Oribel的灵活工作方式，既受新一代员工的珍视，也帮助提高员工的创意与创新能力。
Oribel runs on a flexible workstyle that is not only valued by the newer generation of employees, but also encourages creativity and innovation.
Oribel宽松的人力资源政策吸引全球化和多元化的团队。
Oribel’s liberal HR policy attracts a global and diverse team.
吴淑敏负责多项国际业务，并认识到满足来自不同文化背景员工队伍的需求对于留住人才至关重要。
Taking care of multiple global businesses, Cindy Goh recognises the need to manage the different cultural needs of a global workforce to keep talents.
Q: Could you outline the emphasis placed on employee welfare and culture?
A: I run multiple teams. Our brand team, Oribel, is incredibly global. At one point, in a small entity, we had eight employees from five different nationalities. We believe in diversity beyond gender and nationality.
When Covid hit, it pushed us to adapt quickly. Our entire team, including the finance department, became 100% digital. When border closures led to family separations, we allowed employees to work remotely from their home countries, provided they had at least five hours of overlap with Singapore work hours.
This shift presented initial challenges, especially for HR, in managing teams across different time zones and public holidays, and for IT, in ensuring security and server access. The team also had to adjust to collaborating and ideating on virtual platforms like Teams instead of in-person meetings. Despite these challenges, we embraced the new working arrangements, and it has led to positive outcomes. We now have access to a wider pool of global talent and have improved work-life balance for our employees.
The key to success in this new way of working is accountability and performance measurement. Employees are no longer measured by time or attendance but by performance-driven goals. This requires a new breed of management and employees, one that focuses on outcomes rather than hours.
Naturally, HR policies must align with regional cultures. In some countries, benefits are a strong motivator, while in others, work satisfaction and balance matter more. Talent is the cornerstone of business success, and managing it requires a tailored approach for each region to ensure the needs of our diverse workforce are met.
答： 领导方式必须随着时间演变。当我在28岁管 理位于中国的工厂时，我认为自己需要精通各个领 域，从规划和运营，到销售和工程。在那个阶段， 深入掌握每个领域似乎是一名领导者必有的条件。
如今，随着业务复杂性和专业性不断提升，一 个人已经不可能精通所有领域。因此，合作变得更 加关键。我逐渐采纳以服务为核心的领导方式，专 注于帮助团队充分发挥潜力，实现最佳表现。
通过提供适合的环境与鼓励创新，我激励团队 成员追求更高的目标。同时，我通过领导者视角的 同理心和影响力帮助他们克服障碍并解决问题。我 现在的角色专注于理解与支持的过程，赋能他人成 功，并在他们面临挑战时引导他们前进。
Q: Would you say your leadership philosophy has changed over the years?
A: Leadership must evolve with time. When I was 28 and running a plant in China, I believed I needed to master every area from planning and operations to sales and engineering. At that stage, being deeply involved in each domain felt necessary to be a leader.
Today, the increasing complexity of business and the depth of specialisation make it impossible for one person to be an expert in all areas. Collaboration has become essential. I’ve adopted a more serviceoriented leadership approach, where my focus is on enabling the team to perform at their best.
By fostering innovation and providing the right environment, I inspire my team members to aim higher. At the same time, I use empathy and the influence that comes with leadership to help them overcome obstacles and address concerns. My role is now about empowering others to succeed while guiding them through challenges with support and understanding.
在制造业工作了20多年，吴淑敏非常重视员工福利，并认为自己的职务特别有意义。
Having been in the manufacturing industry for more than 20 years, Cindy Goh values employee welfare and finds her role particularly meaningful.
鉴于未来对基本产品和耐用塑料的需求驱动，铭板正积极拥抱数字化。
Meiban is embracing digitalisation in view of a future driven by demand for basic products and durable plastics.
答： 我预见未来将有更多的自动化和数字化发 展，迈向“无灯工厂”，即所有流程都实现完全 自动化。
许多材料的进步也令人振奋，现今的塑料已 经能够包含与金属相似的机械性能。我们正在将 多种制造工艺叠加，在零件中结合不同材料，创 造出新的可能性。
制造业仍然是一个重要的行业，它的驱动力 来自客户服务、技术创新和营运效率。随着行 业的发展，我们如何实现这些价值主张将受数字 化、自动化和新一代人才所引导。
制造业有很多令人兴奋的创新，而我对未来 的发展充满期待。
Q: Where would you see Meiban in another decade?
A: I see more automation and digitalisation on the horizon. We are getting closer to lightsoff manufacturing, where processes are fully automated.
Material advancements are also exciting, with plastics now offering mechanical performance similar to metals. We are stacking up multiple manufacturing processes and combining different materials in a part, creating new possibilities.
Manufacturing remains an essential industry, driven by customer service, technological innovation, and operational efficiency. As the industry evolves, how we deliver on these value propositions will be reshaped by digitisation, automation, and a new generation of talent.
There’s a lot of exciting innovation in the manufacturing sector, and I look forward to what’s next.
答：总商会非常活跃也洋溢着积极的能量，为我创 造了一段极其充实的体验。总商会每年举办数百场 活动，向参与者提供知识共享、交流与建立商业关 系的好机会，单凭活动的深广度和互动性就非常令 人印象深刻。
我特别享受参与事业女性组的多项活动。由黄 亦巧教授领导，总商会事业女性组不仅是一个职业 网络，它更是一个汇聚了众多优秀杰出女性，彼此 支持和鼓励的紧密社群。我非常感激这个小组所给 予的友情和专业指导。能成为小组的其中一名成 员，与大家交流思想、分享经验、共同成长，无论 在个人还是职业发展上，都非常有意义。
Q: What are some of your experiences after joining SCCCI as a council member?
A: Joining SCCCI has been an incredibly enriching experience. It’s a vibrant and dynamic chamber that constantly buzzes with energy. SCCCI runs hundreds of events annually, offering invaluable opportunities for knowledge sharing, networking, and fostering meaningful business relationships. The sheer scope of activities and engagement is truly impressive.
I’ve particularly enjoyed being actively involved in the Career Women’s Group (CWG), led by the inspiring Prof Hwang Yee Cheau. The CWG is more than just a professional network, it’s a close-knit community of talented women who uplift and support each other. I’m deeply grateful for the fellowship and professional guidance that this group provides. It’s exciting to be part of a network where we exchange ideas, share experiences, and grow both personally and professionally together.
BUILDING LEGACIES; IGNITING FUTURES
A Feature on SCCCI International Women’s Day Dinner and Conference 2024 Celebrating SCCCI Career Women’s Group 30th Anniversary
自1994年，新加坡中华总商会事业女性组致力于推动社区影响力，为女性在各自领域中提供更大的支持与思 想领导力。今年的30周年庆晚宴邀请了四位杰出女性企业家与专业人士，分享她们如何在各自领域中应对
当今复杂的业务挑战，并带领公司走向可持续发展，塑造持久的传承精神。杨莉明部长担任活动的主宾，一同庆 祝这特别的时刻。
The SCCCI Career Women’s Group (CWG) has been a key force in influencing the community to promote greater support and thought leadership for women across their respective fields since 1994. For its 30th Anniversary Celebration dinner, we hear from four established women who are entrepreneurs and experienced professionals in their fields as they share how they lead their companies through today’s complex business challenges while staying committed to building sustainable, lasting legacies. Minister Josephine Teo graced the event as the Guest-of-Honour to celebrate this special occasion.
朱颖德
YouTrip 联合创始人兼首席执行官
Caecilia Chu
Co-Founder and CEO, YouTrip
在疫情后强劲的旅游需求推动下，多元货币电子钱 包因其具竞争力的汇率和便利的海外支付功能，迅 速引起关注，成为众多旅行者的必备品。无论是背 包客、家庭游客、休闲度假者，还是数字游牧者， 各个年龄层的人们都纷纷采用这种支付方式。
建立一个成功的企业，尤其是初创公司，始终 是一项艰巨的任务，需要在短期的生存需求与长期 的愿景之间找到微妙的平衡。
“建立传承对我们固然重要，但首先要确保公 司能存续发展，”朱颖德说道。随着公司迈入六周 年的里程碑，YouTrip凭借灵活策略和敏捷步伐， 在科技和多种货币跨境交易领域，与许多成熟庞大 的企业竞争。
对于初创企业而言，资源往往有限。然而，它 们的发展重心和步伐仅是让他们脱颖而出的关键。
朱颖德说：“我们需要足够的灵活性，才能在市场 上领先其他大公司十步，真正做到遥遥领先。”
建立一个可持续发展的企业需要长远规划。
朱颖德从创业的第一天起，就拥有明确的目标和方 向。长远目标不仅能引导战略，还有助于设立传承
工作。它将塑造每一个决策、市场进入、产品开 发和伙伴关系的框架。
在创业过程中，朱颖德深刻领悟到初期团队 的重要性。她说：“当你在招聘时，最初的十名员 工实际上扮演着制定公司战略、文化和价值体系 的重要角色，他们将决定公司的DNA，并影响公 司未来的走向。”因此，即便资源稀缺，在起步 阶段建立合适的团队，依然应该是首要考量。
随着公司的不断成长，YouTrip也将目光放 在生态系统的连接上。它的应用程序已突破数百 万用户，而YouBiz也已服务客户两周年。下一个 篇章包括通过合作，将这些生态系统连接起来， 创造独特的产品，最终实现无缝、无边界的支付 体验。
尽管初创企业必须关注眼前的生存和灵活的 步伐，它们也不能对长远目标掉以轻心。虽然 扩展科技业务的路途充满挑战，近来在2024年 《亚洲银行与金融》金融科技奖中荣获两项奖项 的YouTrip，始终致力于创新与发展，以期在未来 再创佳绩。
建立传承对我们固然重要，
但首先要确保公司能存续发展。”
“Legacy is something we think is important, but we want to survive first.”
NAVIGATING GROWTH WITH SPEED AND AGILITY
With a push in demand for travel after Covid-19, multi-currency wallets that offer competitive exchange rates and convenient payment methods overseas quickly gained momentum and became a staple for many avid travellers, from backpackers to families, leisure vacationers to digital nomads, and young to old.
Building a successful business, particularly a startup, is an endeavour that requires balancing short-term survival with long-term vision.
“Legacy is something we think is important, but we want to survive first,” shares Caecilia. As YouTrip marks its 6-year milestone, it has relied on its speed and agility to compete with larger and more established companies in the technology space and the sphere of multicurrency transactions.
Resources are often limited, and the focus and pace of some startups are often what set them apart from others. “We need to be agile enough so that we can move ten steps ahead of bigger firms within the whole market,” says Caecilia.
A long-term plan is also essential to truly build a sustainable business, and Caecilia had a clear purpose and direction from day one. Long term goals not only guide strategy but also help in creating a lasting legacy,
from shaping every decision, to market entry, product development, and partnership structures.
One of the key insights Caecilia noticed from building a company is the importance of the initial team. “When you hire a team, the first ten employees of the business actually play a crucial role in setting your strategy, culture, and value system,” she says. “They essentially established the company’s DNA, influencing how the business evolves.” Hence, even when resources are scarce, building the right team should be prioritised from the beginning, shares Caecilia.
As the company grows, YouTrip is looking at connecting ecosystems. The YouTrip app has amassed millions of users, while YouBiz has been live for two years. The next chapter involves connecting these ecosystems, creating unique offerings through collaboration and seamless, borderless payments.
While startups must prioritise immediate survival and agility, they cannot afford to lose sight of their long-term goals. Despite the challenges of scaling a technology business, YouTrip, which recently clinched two awards at the 2024 Asian Banking & Finance Fintech Awards, continues to focus on future growth and innovation to scale greater heights.
张齐娥
悦榕集团联合创始人
Claire Chiang Co-Founder, Banyan Group
悦榕集团30年前创立，如今业务包括24个国家 的92家优质度假村、酒店、水疗中心和画廊。这
个目前拥有超过1.4万名来自90多个不同国籍的 员工的集团，其成功源于张齐娥与丈夫兼联合创 始人独具一格的经商理念。
张齐娥说：“对于那些刚开始创业的人，你 们不必担心自己缺乏创业知识。”
张齐娥与丈夫凭借对旅游的共同热爱，以及 对经济、文化、人类与价值观如何交融来产生独 特身份和表达的理解，开启了他们的创业之路。
“我们想要创造一种另类的旅游体验，而且 是从我们的经济学和社会学视角，去包装和塑 造的。”
她坚信自己对人生的哲理与在社会科学领域获 得的知识将为这个创业项目提供独特的视角。如 今，悦榕集团的业务模式和设计风格强调对环境、 自然和人文生态的深切欣赏。
悦榕集团同样重视为当地社区创造价值，致力 于围绕业务范围建立一个可持续的生态系统。“要 牢记创业初心，”张齐娥分享道，“当你将你的激
情、理想和一套理念融入创业过程时，这段旅程是 非常开心的。”
悦榕集团成立30周年之际，如何保持业务的持 续发展和实现二代传承成为了焦点。张齐娥认为， 身为创始人，最宝贵的传承资产是价值观和思维方 式。她说：“当我们谈到‘传承’，指的可以是传 承企业、所构建的产品与服务，或是所谓的理念和 价值观。”
在家中，张齐娥鼓励孩子从小参与关于悦榕集 团的对话，甚至组织了一个“家庭理事会”，让大 家在聚餐和周末时讨论各种问题。她的三个孩子如 今都已加入家族企业，包括78年前，创立于泰国的 泰华农业企业。
谈及未来，张齐娥强调了“当下”的重要性。 面对着动荡与无常的事态局势，她更加坚信应该对 当前的事务采取行动，为了更优质的工作与生活环 境，规划一个更美好的未来。
“我们能更好地掌控今天做的事情，而非对未 来的预测。让我们充分利用现有资源，勇于追求 真善美。”
“我们能更好地掌控今天做的事情，而非对未来的预测。”
“We have more control over what we do today than predicting what the future will hold.”
CHARTING THEIR OWN COURSE FOR AVANT-GARDE TOURISM
Banyan Group was established three decades ago; its operations now include 92 highquality resorts and hotels, spas and galleries in 24 countries. The group with more than 14,000 employees from more than 90 nationalities was established on a unique business philosophy, distinctive to Claire and her husband, who is the other co-founder of the group.
“For those of you who are just starting out, don’t be afraid of not having enough knowledge to start a business,” says Claire.
She and her husband started their entrepreneurship journey through a shared passion for travel and capitalising on their understanding of how economics, cultures, people, and values interweave to produce unique identities and expressions.
“We wanted to create an unorthodox tourism experience, packaged and branded through the lens of an economics and a sociology graduate,” says Claire.
Claire decided that her learnings in social science, which have shaped her philosophy of life, were going to offer a unique perspective in their entrepreneurial project. Today, Banyan Group’s operations and designs are developed with strong appreciation for the environment, nature, and humanities.
Banyan Group also focuses on value-adding to local communities and building an ecosystem
around where it operates. “Remember why you set up the business,” Claire shares. “When you incorporate your passion, vision, and ideology into the process, the entrepreneurship journey is really delightful.”
As Banyan Group marks its 30th anniversary this year, the spotlight is now on the preservation of the business and the second generation. Claire feels that values and mindset are the best assets she can hand over as the founding generation. “When we look at what can be passed down as legacy, it could be the company, the products and services created, or even a set of culture and values,” she says.
At home, Claire would bring her children along on conversations about Banyan’s work since they were young, and even started a “family council”, where problems are discussed during mealtimes or on the weekends. Claire’s three children are all with the family businesses today, including Thai Wah agribusiness, established in Bangkok 78 years ago.
When sharing her views of the future, Claire emphasises the importance of the “now”. With the uncertain and volatile global landscape, she believes in taking action today to cultivate the future to work and live in a better way.
“We have more control over what we do today than predicting what the future will hold. Let’s make the best use of our current resources to pursue virtue, truth, and beauty.”
彭思佳
摩根大通私人银行亚洲首席执行官
兼摩根大通香港首席执行官
Harshika Patel
Chief Executive Officer, Asia Private Bank, & Chief Executive Officer, Hong Kong, J.P. Morgan
2024年是摩根大通在新加坡设立60周年的里程碑， 彰显了其卓越的领导力传承，以及对培养未来领袖的 努力。该公司已经超越传统银行业务的范畴，重新定 义自身为不仅仅是一家银行，也是一家人才管理组 织、科技公司与专家顾问，为客户提供金融风险管理 等复杂挑战的咨询服务。
彭思佳在摩根大通任职十余年，并于去年12月 成为新一任的私人银行亚洲首席执行官。她说，这样 一个综合服务的机构需要领导者具备极高的适应能力 和灵活性，这些素质在今日迅速变化的世界中已经变 得不可或缺。“我们不是在寻找对工作熟悉的职员， 而是在寻找那些展示出高适应能力的员工。”
摩根大通通过鼓励人才内部流动作为培养员工技 能的一种方式。去年公司内有相当多的员工实现内部 转岗，无论是换到不同的职能、业务线还是地点。例 如，彭思佳本人于2013年加入摩根大通，从事了五 个不同职位，目前她已担任摩根大通私人银行亚洲首 席执行官，展现并应证了该公司在支持内部发展和流 动的企业文化。这种对人员流动、领导力培养，和强 烈文化的重视，也反映在了摩根大通为家族企业客户 提供的咨询服务中。
摩根大通业务跨入100个市场，在这里， “文化”不仅是一个口号，而是深深植入于日常 的实践，由高层领导树立榜样并加以贯彻。彭思 佳说：“你不只是在激励你直接管理的团队，你也 在牵动公司上下的同事朝共同的目标迈进。”摩 根大通在领导力培训上投入了大量资源，专注于 培养管理大团队和应对复杂环境所需的软技能。
放眼未来，摩根大通将可持续发展视为关 键。这一概念涵盖多个层面：在瞬息万变的世界 中保持相关性、维持卓著的声誉，和致力于环境 的可持续发展。
彭思佳进一步指出：“全球仅有大约5,000家 公司的历史超过200年。我在1994年开始职业生 涯时，当年排名前十的银行中，如今已不再位列 前30。因此，维持相关性并适应时代变化是绝对 的关键。”
摩根大通长远的历史和它对可持续发展、适 应能力和强大的企业文化的重视，制定了它在过 去数十年里的成功与相关性。往后，它将继续重 视这些核心价值，扎根在全球金融领域中的领先 地位。
“维持相关性并适应时代变化是绝对的关键。”
“Being able to stay relevant, to adapt to the times, is the absolute key.”
CULTIVATING ADAPTABILITY TO DELIVER LONG-STANDING QUALITY
In 2024, J.P. Morgan celebrates a milestone of 60 years in Singapore, highlighting its legacy of leadership and commitment to nurturing future leaders. The firm, which has evolved beyond traditional banking, considers itself not just a bank but a talent institute, technology company, and advisor to clients on complex issues, including wealth and risk management.
Harshika, who has been at the firm for more than ten years and started her role as the new Asia private banking chief last December, shares that the complexity of such an organisation demands leaders who are adaptable and agile, qualities that have become indispensable in an ever-changing world. “We are not looking for people who have done it before, but people with a track record that they have been able to adapt,” says Harshika.
The company encourages career mobility as a way to develop these skills. For instance, they have seen quite a number of employees change jobs within the firm last year, whether it was to a different function, business line or location. As an example, Harshika joined J.P. Morgan in 2013 and she is now on her fifth job as the Asia Private Bank CEO. All this underscores how the firm walks the talk when it comes to supporting a culture of internal growth and movement. This approach, emphasising on the importance of mobility, leadership development, and a strong
culture, is also mirrored in how J.P. Morgan advises its family business clients.
With presence across 100 markets, “culture” at J.P. Morgan is not just a buzzword; it must be lived and breathed, with leadership setting the tone from the top. “Not only are you influencing people that you directly manage, you are also influencing people all over the firm to focus on the same priority,” says Harshika. The company invests heavily in leadership training, focusing on the soft skills necessary to manage large teams and navigate complex environments.
Looking to the future, J.P. Morgan identifies sustainability as key, a concept that encompasses multiple dimensions: staying relevant in a fast-changing world, maintaining a strong reputation, and committing to environmental sustainability.
“Only 5,000 companies in the world are older than 200 years today. When I started my career in 1994, the top ten banks at that time are not in the top 30 banks today. Thus, being able to stay relevant, to adapt to the times, is the absolute key,” shares Harshika.
The firm’s long history and focus on sustainability, adaptability, and a strong culture have enabled it to remain relevant and successful over the years. As J.P. Morgan looks forward, it continues to prioritise these values, ensuring its legacy and leadership in the global financial industry.
李詩瑩
毕马威新加坡主管合伙人
Lee Sze Yeng Managing Partner, KPMG in Singapore
作为领先的专业服务公司，毕马威在新加坡拥有 超过80年的历史，已在各行业企业与机构的顾问 服务需求中，建立了值得信赖的信誉。
自李詩瑩于去年10月接任领导职务以来，她 深知守护集团80年来精心培育的核心价值至关 重要。然而，在应对广泛的形势变化和适应市场 需求的同时，她也强调引入新技术和拓展创新咨 询服务的必要性。她反思道：“‘创业’难，不过 守业’者也面对挑战，特别是考虑到复杂与变化 多端的大环境。”
“我们必须仔细考量哪些方面需要保留，哪 些要改进，”李詩瑩说道。她认为，毕马威的核 心在于“以人为本”，公司的竞争力来自团队的 素质以及与客户建立的信任。为了保持这些优 势，公司必须将栽培下一代领导人作为重点策
略，提供充足的成长机会，包括与客户的直接互动 和高端的培训项目，以培养他们未来所需的技能。
我记得有一位资深的合伙人与我分享过一个 原则：你接手公司后，你必须让公司变得比你加 入时更上一层楼。”这句话唤起了她的共鸣，她 坚信，毕马威的领导层不仅有责任确保公司的历 史传承，还要积极推动它迈向新的高峰。
在今日的经商环境中，维持卓越声誉和客户 信任比以往更具挑战性。毕马威致力于应对这 一挑战，即在坚守核心价值的同时，勇于迎接变 化，承诺追求卓越与创新。
作为毕马威新加坡的首位女性主管合伙人， 李詩瑩坚信，长期的成功取决于这些关键因素： 拥有坚固的价值体系、对投资与培养人才的不懈 努力，以及对企业未来的清晰规划。
你接手公司后，你必须让公司变得
比你加入时更上一层楼。”
“You have to leave the firm a better place than when you found it.”
PRESERVING LEGACY, EMBRACING THE FUTURE
As a leading professional services firm, KPMG boasts a rich history of over 80 years in Singapore and has established itself as a trusted advisor to businesses and organisations across sectors.
The firm’s Managing Partner, Lee Sze Yeng, who took over the helm last October, acknowledges that safeguarding the firm’s values, which have been meticulously cultivated over eight decades, is of utmost importance. However, as the broader business climate demands change, it is equally vital to adopt new technologies and embed innovation into its offerings. “While starting a business is challenging, sustaining it in the face of a complex and volatile landscape is equally difficult,” she reflects.
“We have to consider carefully what aspects of the business to preserve and what to improve,” says Sze Yeng. For her, KPMG is fundamentally a “people’s business”, where the strength of the firm lies in the quality of its team and the trust it builds with clients. To sustain this strength, there is a strategic focus on nurturing the next generation of
leaders. This involves providing them with ample opportunities for growth, including comprehensive training and upskilling programmes for employees to be equipped with future-ready skills.
“I remember a seasoned partner once shared with me that you have to leave the firm a better place than when you found it,” says Sze Yeng. This principle resonates deeply with her, as she believes that it is the responsibility of KPMG’s leadership to not only maintain the firm’s legacy but to also propel it to greater heights.
In today’s business landscape, maintaining a strong reputation and growing the trust of clients is more challenging than ever before. To grow sustainably, the firm has to stay relevant amid change and be attuned to the needs of its clients, people and community, while upholding its commitment to excellence and innovation.
As KPMG in Singapore’s first female Managing Partner, Sze Yeng believes that a strong value system, investments into its people, developing a strong talent pipeline and future-proofing the organisation are all vital ingredients for long-term success.
CHINA’S OVERCAPACITY AND SOUTHEAST ASIAN ECONOMIES: A BLESSING DESPITE CONCERNS
China’s purported industrial overcapacity is a doubleedged sword for Southeast Asian economies. How can Southeast Asian countries attract investments from China without becoming too reliant on them?
SHERRY TAO KONG
Visiting Fellow, ISEAS – Yusof Ishak Institute; Adjunct Assistant Professor, National University of Singapore
Head of Research, Institute of Social Science Survey and Senior Research Fellow, Institute of Digital Finance, Peking University
MARIA MONICA WIHARDJA
Overcapacity, dumping and unfair trade practices are not new terms in the history of trade politics.
At the centre of the current US-China trade conflict is the claim of China’s overcapacity and its non-market policies in manufacturing the “new three” products — new energy vehicles (or NEVs including electric and hybrid vehicles), lithium batteries and solar photovoltaic technologies.
The current spat between China and the US invokes a déjà vu of the US-Japan trade conflicts of the 1970s-1990s. Then, Washington accused Japan of unfair trade practices and even dumping.
DEFINING OVERCAPACITY
Any rigorous analysis would demonstrate that overcapacity has neither a well-defined meaning in international trade law nor a straightforward definition.
One of the many indicators of China’s overcapacity that have been used is the declining industrial capacity utilisation rate (the percentage of a company’s potential output actually used for production, see Figure 1). This fell from a high of 77% in the first quarter of 2021 to 73% in the first quarter of 2024.
Washington has been resolute in accusing China of overcapacity. The focal point of contention in this debate is China’s anticompetitive behaviour.
The US recently claimed that non-market policies such as China’s industrial subsidies had led to over-investment in old and new sectors and, consequently, ”production capacity untethered from global demand”. This could spill over to other countries if it led to over-production and dumping, causing material injury to domestic industries elsewhere such as firm closures and job losses.
Employees produce electronic components at a factory in Nantong, in eastern China’s Jiangsu province on 6 August 2024. (AFP)
In response, China denies the overcapacity accusation and defends its industrial policies, including subsidies. From China’s perspective, the support the industries of the “new three’ products have received is common practice, similar to that of other countries, including the US.
The overcapacity accusation and calls for punitive measures are, therefore, interpreted as attempts to sabotage China’s efforts for its industries to move up the value chain and to reduce dependence on foreign technology.
TALL ORDER TO DIVERSIFY AWAY FROM CHINA’S SUPPLY CHAINS
Nevertheless, Chinese policymakers and industry leaders do admit the existence of a gap between the supply and the demand of the “new three” products in the domestic economy but not in the global economy as the US claims.
... for many manufacturing products, such as electronics, electrical machinery and automotive equipment, China and Southeast Asian countries are part of the same supply chains.
This gap in the domestic market is seen as a typical market economy phenomenon and therefore calls for market-based measures to address the situation, e.g. the Chinese to consume more and/or China to export more. Confronted by weak domestic demand, an increasing number of Chinese enterprises have chosen to venture out and many came to Southeast Asia.
So, how does the issue at hand affect Southeast Asian economies? To start with, it is important to acknowledge the reality that Southeast Asian economies have become highly integrated into China’s supply chains in terms of their reliance on Chinese intermediate inputs to produce goods at home for export overseas.
Indeed, for many manufacturing products, such as electronics, electrical machinery
Figure 1: China’s industrial capacity utilisation rate from 2nd quarter of 2019 to 2nd quarter of 2024 (ISEAS)
and automotive equipment, China and Southeast Asian countries are part of the same supply chains.
This high reliance poses a dilemma for Southeast Asian producers that export to the US and/or the EU and, therefore, may want to diversify and derisk their supply chains away from China.
On the one hand, Southeast Asian businesses and multinational companies operating in Southeast Asia may find it costly, difficult and disruptive to diversify away from China’s supply chains. On the other hand, those which export to the US and/or the EU may become targets of anticircumvention measures.
Many Southeast Asian economies could be beneficiaries of China’s outward investment, technology transfers and better integration into China’s supply chains in low-carbon technologies to supply cheap low-carbon technologies at home.
An employee works on a pencil production line at a factory in Sihong, in eastern China’s Jiangsu province on 24 July 2024. (AFP)
GREATER INVESTMENT FROM CHINA, BUT ALSO GREATER COMPETITION
While many Southeast Asian governments are eager to roll out the red carpet to Chinese investment to beef up local production in “new three” products, local producers in some Southeast Asian countries claim to have been hit hard by the head-to-head competition with cheaper Chinese products. In Thailand, incentives and subsidies given to Chinese companies to invest in local production of NEVs and to sell imported NEVs from China resulted in the closure of local auto parts manufacturers.
A third of Thailand’s foreign direct investment comes from China. Although widening bilateral trade deficits with China do not always indicate dumping, trade deficits of some Southeast Asian economies, such as Thailand’s with China, have also been on the rise. This may become a contentious issue in the region.
Given Southeast Asian developing economies’ high reliance on Chinese industrial inputs, as well as access to the country’s market and investment, they may be hesitant to appeal to the WTO against China in cases of dumping. This is due to fear of retaliation.
Workers assemble an EV car inside BYD’s first electric vehicle (EV) factory in Southeast Asia, a fast-growing regional EV market where it has become the dominant player, in Rayong, Thailand, on 4 July 2024. (Chalinee Thirasupa/Reuters)
The critical question for Southeast Asian economies is how they may take advantage of the massive inflow of capital, the availability of technology and the talent that arrived onshore to help advance the kind of development that Southeast Asia aspires to achieve. Here are a couple of points for consideration.
First, Southeast Asian economies that have no direct domestic competition with China in the “new three” products and/ or use these products as inputs for further processing in supply chains could potentially benefit from China’s supply of various productive factors.
Many Southeast Asian economies could be beneficiaries of China’s outward investment, technology transfers and better integration
into China’s supply chains in low-carbon technologies to supply cheap low-carbon technologies at home. Reforms in domestic trade policies such as Indonesia’s restrictive local content requirement could help materialise these benefits.
... the two agreements could be better utilised to
manage trade imbalances, unfair trade practices and their consequent repercussion on domestic economies.
UPGRADED ASEAN-CHINA FTA AND RCEP COULD PROVIDE WIN-WIN SOLUTIONS
Second, Southeast Asian economies that compete head-to-head with China in the “new three” products, such as Thailand in the EV industry, could better prepare and protect themselves against China’s unfair trade practices by joining the Multi-Party Interim Appeal Arbitration Arrangement (MPIA). The MPIA is a temporary fix to the non-functional WTO Dispute Settlement Mechanism.
Under it, countries can arbitrate any WTO disputes, notwithstanding how difficult it is to demonstrate anti-dumping. Currently, only Singapore and the Philippines are members of the WTO MPIA while importantly, China is among its 53 members.
This is a less distortionary pathway than imposing unilateral tariff and non-tariff measures. Recently, for example, Indonesia announced increased tariffs on a range of Chinese goods by up to 200% and even entertained the idea of diverting imported consumer goods from entering ports in Java to other locations outside Java.
Third, the upgraded ASEAN-China Free Trade Agreement and the Regional Comprehensive Economic Partnership (RCEP) provide an avenue for cooperation in managing the transition towards more sustainable growth. With their green economy components, the two agreements could be better utilised to manage trade imbalances, unfair trade practices and their consequent repercussion on domestic economies.
China’s overcapacity issue can be a blessing for Southeast Asian economies despite the concerns it may raise. It would
be a far more productive endeavour to find a win-win cooperation with China instead of sweating over China’s internal economic affairs or the US’ “capacity politics”. The upgraded ASEAN-China FTA and RCEP may provide the umbrella for a stronger win-win cooperation.
This article was first published in Fulcrum, ISEAS – Yusof Ishak Institute’s blogsite on 16 Aug 2024, and later in ThinkChina on 21 Aug 2024. ThinkChina is an English language e-magazine by Lianhe Zaobao. SCCCI collaborates with ThinkChina to cross-share content. www.thinkchina.sg
WHERE INK AND PIXELS
CONVERGE: GUIDING PRINT
IN A CHANGING MEDIA AGE
Interview with Josephine Low, President of Print & Media Association, Singapore
刘桂婵也是 KPP Packaging 的总经理，她希望带领公会推动行业采纳先进技术和可持续发展实践，并制定解决方案，确保每个企业维持 竞争力和相关性。
Josephine Low, who is also the Managing Director of KPP Packaging, wants to lead PMAS to drive industry adoption of advanced technology, sustainable practices, and create solutions to ensure businesses’ competitiveness and relevance.
新加坡印刷与媒体同业公会成立于 1937年，最初名为新加坡印刷協會， 并于2000年采用现有名称。该协会拥有 160多名会员，是新加坡印刷行业的国家代 表机构。
在本期《华商》专访中，会长刘桂 婵分享印刷行业在媒体角色不断演变过 程中所面临的挑战，以及公会如何积极 为会员提供支持与适应新环境所需的技能 和知识。
The Print & Media Association, Singapore (PMAS) was founded in 1937 as the Master Printers Association, and adopted its current name in 2000. It has over 160 members and is the national representative body for the printing industry in Singapore.
In this issue of Chinese Entrepreneur, Josephine Low, President of PMAS, shares some of the challenges the printing industry faces amidst the evolving role of media, and how PMAS actively support members and equip them with the skills and knowledge to adapt.
答：印刷行业需要保持利润，不过因数字媒体的 兴起使传统印刷产品需求下降。我们还必须在 投资新的可持续技术及其成本效益之间取得平 衡。
例如，转向数码印刷可能会增加运营成本。
我们的会员也可能不确定他们需要投入多少资 金、是否做好了进行这类投资的准备，或者更 新、更昂贵设备的投资能否带来良好的回报。
数码机器不像传统机器，没有转售价值，这让 会员们担心投资的回报率。
“可持续性与印刷行业息息相关，减 少碳足迹已成为其中的核心要务。”
印刷业还面临吸引和留住行业人才、为员工 提供技能提升机会，和吸引年轻一代加入行业的 挑战。许多印刷企业认为应对复杂的环境标准 安全和数据安全相关的监管合规要求有一定的困 难，同时也在客服数字化转型和全球供应链中断 对原材料成本带来的影响。
为了协助会员解决这些问题，我们与总商会 以及政府机构，如新加坡企业发展局、全国职工
总会属下的就业与职能培训中心，和新加坡全国 雇主联合会合作，推动支持行业增长和可持续发 展的政策和法规，包括各类激励措施。我们也合 作推动创新、可持续和劳动力发展等项目，以最 大化影响并实现共同目标。
我们参加相关的贸易展览，并通过定期对话 和信息共享渠道，及时向会员通报相关政策、计 划和机遇。本会也参与开发培训项目，应对行 业再不断演化的各种需求，如数码印刷、可持 续发展和新技术。这些都是我们日常正在进行的 工作。
Q: How has PMAS supported its members in tackling industry challenges?
A: The print industry faces the need to adapt to the decline in demand for traditional print products due to the rise of digital media, while maintaining profitability. We also have to balance investing in new sustainable technologies with its cost effectiveness. For example, the shift towards digital printing can potentially increase running cost. Our members may not know how much they need to spend, if they are ready to spend, or if their investment in the newer and more expensive equipment will generate a good return. Unlike traditional machines, digital machines do not have resale value and members will be concerned about the ROI.
The print industry also face challenges of attracting and retaining talents in the industry, providing opportunities for upskilling, while appealing to younger generations. Many of the print industry members find navigating complex regulatory compliance requirements related to environmental standard safety and data security a challenge, and are also tackling digital disruption and global supply chain disruption which affects the cost of raw materials.
To assist members in solving these issues, we collaborate with the SCCCI and government bodies like Enterprise Singapore, e2i, and the Singapore National Employers Federation to advocate for policies and regulations that support the industry growth and sustainability, including incentives. We also partner up on initiatives that promote
刘桂婵（左三）致力于扩大会员数量和影响力，以广泛代表行业内的企业和专业人士。
Josephine Low (third from left) is committed to expanding PMAS membership and influence to represent a diverse range of business and professionals in the industry.
innovation, sustainability and workforce development to maximise impact and achieve shared goals.
We participate in relevant trade exhibitions and establish these regular dialogues and information sharing channels to keep members informed about relevant policies, programmes, and opportunities. PMAS engages in collaboration to develop training programmes that address the industry’s evolving needs such as digital printing, sustainability, and new technologies. These are the things that are happening on a regular basis.
答：除了定期举办研讨会、网络研讨会和座谈会教 育会员关于可持续发展实践和最新的环保技术， 本会管理委员会于2022年3月至4月为期一个月， 参与了由全国职工总会举办的运营与技术路线图 （OTR）项目。
随后，本会与联合国全球契约新加坡网络 (GCNS) 合作，特别为印刷行业定制了一门企业可 持续发展的基础课程。
该工作坊由企业发展局支持，让参与者了解环 境、社会和治理框架内的关键方针和最佳实践，并 通过这些工具提升业务表现。
参与者能够使用 GCNS 的专有工具进行可持 续性报告和碳排放追踪，从而洞察公司碳数据和可 持续性表现差距分析。这些相关的指南、最佳实践 和案例研究可以帮助会员实施可持续发展实践。
本会也采用了数据分析技术，通过预测需 求、管理库存和确保及时交付材料来优化供应 链运营，从而提升整体效率并减少浪费。我们促 进与可持续发展专家、供应商和技术提供商的合 作，确保会员能够及时了解最新的进步和创新的 解决方案。
Q: What are some examples of PMAS’ efforts in advancing sustainability goals for its members?
A: Apart from the regular workshops, seminars, and webinars conducted to educate members about sustainable practices and the latest eco-friendly technologies, PMAS management committee embarked on the Operation &
Technology Roadmap (OTR) journey organised by NTUC for the duration of a month from March to April 2022.
Following this, PMAS collaborated with the United Nations Global Compact Network Singapore (GCNS) to specially curate a foundation of corporate sustainability course for our print industry.
“Sustainability comes hand in hand with printing, and priorities are placed on reducing carbon footprint.”
This workshop, supported by Enterprise Singapore, enabled participants to understand the key principles and best practices in the framework and tools to improve our businesses
印刷与媒体同业公会参与开发培训项目，应对行业再不断演化的各种需求，如数码印刷、可持续发展和新技术。
PMAS engages in collaboration to develop training programmes that address the industry’s evolving needs such as digital printing, sustainability, and new technologies.
印刷与媒体同业公会希望通过加强会员、行业利益相关者，和政府机构之间的合作来应对共同挑战，同时分享最佳实践， 建造一个相互扶持的生态系统。
Together with driving greater collaboration among members, industry stakeholders, and government bodies to address common challenges, PMAS want to share best practices and create a supportive ecosystem.
through the lens of environment, social and governance.
Participants were then able to use the proprietary tools of GCNS on sustainability reporting and carbon emission tracking, to obtain insights of their company’s carbon data and sustainability performance gap analysis. The guidelines, best practices, and case studies helped members to implement sustainable practices in their organisation.
PMAS also adopted data analysis to optimise supply chain operations by predicting demand, managing inventory, and ensuring timely delivery of materials, enhancing overall efficiency and reducing waste. We facilitated partnerships with sustainability experts, suppliers and technology providers to keep members informed about advancement and innovative solutions.
答：公会的目标是继续推动先进技术的采纳和可持续 发展实践，并制定解决方案，确保每个印刷企业维持 竞争力和相关性。我们正在扩大会员数量和影响力， 以广泛代表行业内的企业和专业人士。
印刷永远不会消亡，因为它必须保持相关。关键在于 我们如何适应印刷媒体的变化。无论是显示街道名称 的路牌，还是印在饮料罐上的标签，其实是印刷的媒 介在变化。这些招牌都可以通过数码印刷来完成。
如今，可持续性与印刷行业息息相关，减少碳足 迹已成为其中的核心要务。传统印刷将会继续存在， 但它正在演变。因此，在为客户提供全方位的多渠道 解决方案时，拥抱数码印刷也显得尤为重要。与传统 胶印相比，受过更多教育的新一代会倾向于接受数码 印刷，因为他们如今接触到的都是数字化的内容。
我们希望通过加强会员、行业利益相关者，和政 府机构之间的合作来应对共同挑战，同时分享最佳实 践，建造一个相互扶持的生态系统。
Q: What is your vision for PMAS and the print industry in the near future?
A: Our aim at PMAS is to continue driving the adoption of advanced technology, sustainable practices, and create solutions to ensure each business’ competitiveness and relevance. We are expanding membership and influence to represent a diverse range of businesses and professionals in the industry.
Print will never die because it needs to stay relevant. The important thing is how we are going to adapt to the changing media of print. Whether it is sign boards displaying street names or the labels printed on beverage cans, it is actually the media of print that has changed. You can have any of those signboards digitally printed.
Nowadays, sustainability comes hand in hand with printing, and priorities are placed on reducing carbon footprint. Traditional print will stay, but it is evolving. Hence, it is important to embrace digital print as well in our total multichannel solution offerings to our clients. The newer generation being more educated will tend to embrace digital print, as compared to traditional offset printing, as they are exposed to everything digital these days.
Together with driving greater collaboration among members, industry stakeholders and government bodies to address common challenges, we want to share best practices and create a supportive ecosystem.
刘桂婵（左）与文化、社区及青年部长兼律政部第二部长唐振辉（右） 的合影。
Second Minister for Law Edwin Tong (right).
的其他国家设立营运。然而，在新加坡设立业务的 企业意识到并理解本地印刷行业提供的高标准。在 可持续发展方面，我们也同样在区域内取得了相对 较大的进展。
答: 新加坡在区域的吸引力在于它的稳定性、安全 性和高质量的员工。尽管成本较高，新加坡的职场 文化，例如高适应能力和多任务处理能力，是许多 大企业仍选择在新加坡设立运营基地的原因。
企业可能会因为较低的人力和土地成本而在东南亚
为了确保我们跟上行业最新技术和实践，本 会举办过多次海外考察，并将继续向国际的同行 专家学习。我们刚于今年五月到访德国，访问了 Fogra（德国印艺技术研究协会），一家印刷和 媒体行业的代表性机构，负责颁发认证，也专门 研究显示器色彩准确性。
我们深入认识了造纸过程以及如何在色域范围 内实现鲜艳且精确的色彩技术。过去几年里，我们 还访问了日本、泰国，进行学习交流，分享彼此的 见解。
Josephine Low (left) with Minister for Culture, Community and Youth and
印刷与媒体同业公会于2022年参与了由全国职工总会举办的运营与技术路线图（OTR）项目，并与联合国全球契约新加坡网络(GCNS) 合作，让参 与者可以洞察公司碳数据和可持续性表现差距分析。
PMAS embarked on the Operation & Technology Roadmap (OTR) journey organised by NTUC in 2022, and collaborated with the United Nations Global Compact Network Singapore (GCNS), where participants obtained insights to their company’s carbon data and sustainability performance gap analysis.
Q: How would you describe Singapore’s position in the printing industry compared to regional and global counterparts?
A: Singapore’s attractiveness in the region is its stability, safety, and quality of workforce. Even though it is expensive, you will see many large firms choosing to set up operations in Singapore for the work culture, such as being quick to adapt and the ability to multitask.
In other Southeast Asia countries, firms may prefer setting up operations there for the lower manpower and land costs. Businesses that establish operations in Singapore recognise and appreciate the high standards upheld in the
local print industry. In terms of sustainability, we have also made larger strides in the region.
PMAS has organised multiple overseas trips to learn from our global counterparts and will continue to do so to ensure that we are keeping up with the latest industry technology and practices. We went to Germany just recently in May and visited Fogra, a representative organisation in the printing and media industry responsible for issuing certifications and specialising in display colour accuracy.
We gained insights into the paper making process and techniques for achieving vibrant, accurate colours within the gamut. In the last few years, we also went to Japan and Thailand to learn from them and share our insights.
答:社交媒体影响了印刷与媒体行业，并且将在未 来发展中继续发挥关键作用。它弥合了实体和数码 媒体之间的差距，例如通过二维码和其他数字元 素，增强了印刷材料的互动性。
印刷内容逐渐受到社交媒体趋势和主题的影 响，使印刷材料对当代受众更加适切并有吸引力。
因此，企业也能够通过各种印刷材料的定位广告触 达更广泛的群众、与客户互动，并推动销售。
在印刷领域，近年来趋势转向数码印刷。这让 生产速度变得更快、成本降低，同时增强了定制与 短版生产的能力。短版印刷，即少量生产，主要便 利来自数码印刷设备的使用。
印刷技术的进步促进高质量的定制效果，让个 性化印刷产品的需求增加。尽管如此，可持续发展 实践也相对得到更多关注，包括转向使用环保材料 和工艺，以减少行业环境造成的影响。
Q: What are some trend shifts you’ve observed in the print and media industry over the past few years?
A: Social media has influenced the industry and will continue to play a crucial role in the future of print and media. It has bridged the gap
between physical and digital media, for example with QR codes and other digital elements, enhancing the interactivity of print materials.
Print contents are gradually influenced by trends and themes from social media, but this allows print materials to become more relevant and appealing to contemporary audiences. As a result, it also enables businesses to reach wider audiences, engage with customers, and drive sales through targeted campaigns with a large variety of print materials.
In the area of print, there is a shift in recent years towards digital printing. It has allowed faster and more cost effective production with the ability to customise and produce short runs efficiently. Short runs, which involve printing in fewer quantities, are largely made possible by the use of digital printing equipment.
The demand for personalised print products has also increased, driven by advancement in printing technology that allows for high quality, customised outputs. Despite that, there is growing emphasis on sustainable practices, including the use of eco-friendly materials and processes to reduce the industry’s environmental impact.
2024年5月，印刷与媒体同业公会在海外考察 期间，访问了德国的Fogra图像技术研究所， 一家设计和印刷行业的认证机构。
In May 2024, the Print & Media Association Singapore (PMAS) visited Fogra, a German graphic arts institute and a certifying body of the design and print industry during an overseas study trip.
PASSING THE LEGACY
THE STORY OF THE SCCCI BUILDING MODEL
Did you know that the Singapore Chinese Chamber of Commerce & Industry (hereinafter referred to as the “Chamber”) has a 1964 three-dimensional building model? A 14-year-old secondary school student presented the model during the opening ceremony of the Chamber building in 1964. The exquisite craftsmanship of the model became a talking point for the guests at the opening ceremony.
This year marks the 60th anniversary of the completion of the Chamber building. The Chamber has invited the student back to restore the building model, which will be displayed in the Chamber building's 60th anniversary special exhibition. This article brings to light the story of the 1964 Chamber building model and its significance.
1964年，14岁学生赵炳和（中）和总商会秘书长王梅痴（右）在总商会大厦落成典礼向来宾展示大厦模型。
The 14-year-old student Teo Peng Hoe (middle) and Chamber Secretary-General C. M. Wong (right) showing guests the building model at the opening ceremony of the Chamber building in 1964. (Reproduced with permission from Mr Teo Peng Hoe)
1964年，赵炳和与母亲在绍清商业学校的课室里与总商会大厦模型合照。
（赵炳和特许复制）
Photograph of Teo Peng Hoe and his mother with the three-dimensional model of the Chamber building taken at a classroom of the Y.S.C. Institute of Commerce in 1964.
(Reproduced with permission from Mr Teo Peng Hoe)
赵炳和制作模型时使用的工具。 （新加坡中华总商会珍藏）
The tools used by Teo Peng Hoe while making the model. (SCCCI Collection)
A 14-YEAR-OLD STUDENT’S ASPIRATION
The maker of the 1964 Chamber building model is Teo Peng Hoe, a 14-year-old student from Victoria School. Teo lived with his mother opposite the Chamber building at 28 Hill Street. His mother worked at Y.S.C. Institute
of Commerce and rented a room above her workplace. Since young, he has a passion for drawing and aspires to work in the building industry. During the nation-building period of the 1960s, there were many changes to the urban landscape in the vicinity of Hill Street alone.
During the construction of the Chamber building from 1961 to 1964, Teo often looked out of his room window and gradually developed a strong interest in this building.
Every day, after coming home from school, Teo would sit at the window to observe the busy scene at the construction site. Without any formal training or guidance, he began to replicate the construction of the Chamber building in his makeshift studio in an empty classroom. He purchased the necessary materials from the nearby Straits Commercial Art Craft using his pocket money and began his building model project.
Under Teo’s meticulous efforts, sheets of plywood turned into the walls and floors of the Chamber building model. These were stabilised using a hammer and Chrysanthemum brand office pins. He used a handsaw to shape the plywood boards, turning them into the decorative elements of the front entrance, side façades, and roof. Individual tiles were also added to form the mosaic flooring of the front pavement and the 9th floor. Thereafter, rich colours were added to the model using a fine paintbrush.
Opening Ceremony of the Chamber building in 1964. (SCCCI Collection)
总商会大厦模型中约5厘米高的石狮，是用橡皮泥塑造而成的，并涂上了瓷漆，显得栩栩如生。
（新加坡中华总商会珍藏）
The approximately 5-centimeter-high stone lions of the Chamber building model were made from plasticine and painted with porcelain enamel, making them lifelike.
(SCCCI Collection)
1964年，14岁学生赵炳和（左二）与母亲（左一）在总商会大厦落成典礼上与总商会会长孙炳炎（右一）合影。
A GIFT FOR THE COMPLETION OF THE CHAMBER BUILDING
Four months before the opening ceremony, the Chamber received a letter from Teo Peng Hoe. In it, Teo expressed his wish to present a threedimensional model of the Chamber building to the Chamber. As the opening ceremony draws closer, Council Member Tong Ching Hsien and Secretary-General C. M. Wong visited Teo’s house to view the model. Council Member Tong, the owner of a construction company, was full of praises for the building model. Likewise, Mr Wong noted, “The proportions and colours of the Chamber building model closely resemble those of the actual Chamber building, and its craftsmanship is exquisite.”
On 20 September 1964, the Chamber opened its doors to welcome its guests. An ambitious building of its time, the ten-storey building is a fusion of traditional Chinese architecture
and Art Deco elements. The building is seen as a symbol of progress and stability, reflecting the spirit of the times during the nation-building period for both the local business community and the public. This fervour is likewise mirrored in the building model. Displayed in the middle of a seminar room on the 3rd storey, the 90 cm tall building model captivated every guest who entered. Many were amazed by how the young student could construct a building model down to its last detail without prior training and construction drawings to refer to.
Teo, accompanied by his mother, enthusiastically distributed handmade photo cards to interested guests and shared about the building model. He also had the privilege of witnessing then Prime Minister Lee Kuan Yew at the opening ceremony. Then Prime Minister Lee stood by the building model, studying it for a long time before shaking hands with him and receiving the handmade photo card.
The 14-year-old student Teo Peng Hoe (second from left) with his mother (first from left) taking a group photograph with Chamber President Soon Peng Yam (first from right) at the opening ceremony of the Chamber building in 1964. (Reproduced with permission from Mr Teo Peng Hoe)
ONE BUILDING MODEL, SIX DECADES OF SENTIMENT
Teo thus forged a lifelong bond with model making. For decades, he has been creating
architectural models for government sectors, businesses and organisations. Since his initial attempt in 1964, he has continuously received professional training and embarked on a career in the construction industry. This year, the Chamber is honoured to have Teo working on the restoration of this historic model.
After several months of patient restoration, this model will be showcased as one of the highlights at the 60th anniversary celebration of the Chamber building. The Chamber has also specially arranged for an interview video recording with Teo, allowing visitors to hear his fascinating model-making journey and continuing the legacy of this architectural model.
1960年代，从陆佑街拍摄的总商会大厦照片。 此照片同时显示了赵炳和居住的店屋（左）和美国大使馆（右）的位置。
(Reproduced
Photograph of the Chamber building taken from Loke Yew Street in the 1960s. It also shows the shophouse where Teo Peng Hoe lived (left) and the U.S. Embassy (right).
with permission from Mr Teo Peng Hoe)
1966年， 总商会秘书长王梅痴写了一封推荐信，顺利帮助赵炳和转学到女皇镇工艺中学。毕业后，他开始了与建筑行业相关的职业生涯。 （赵炳和特许复制）
In 1966, the Chamber Secretary-General C. M. Wong wrote a referral letter for Teo Peng Hoe to transfer to Queenstown Technical Secondary School. After graduating, he went on to start a career in the construction industry. (Reproduced with permission from Mr Teo Peng Hoe)
2024年，总商会邀请赵炳和修复大厦模型。修复后的模型将在商会大厦60周年特展中展出。
（新加坡中华总商会珍藏）
CONCLUSION
The story of Teo Peng Hoe and the building model of the Chamber demonstrates a legacy spanning 60 years. Beginning in 1964 as a curious 14-year-old secondary school student
fascinated by architecture, he has since grown into a seasoned professional model maker in his seventies. This model embodies not only the young student's passion and dedication to architecture, but also the artisanal craftsmanship passed down over six decades. Similarly, the development of the Chamber building, with its iconic ten-story structure, symbolises the deep rootedness of the local Chinese business community in Singapore, support for the city-state's self-governance and independence and place as a cornerstone for the local business community. Over the past six decades, this building has stood resilient, embodying the entrepreneurial spirit of the Chinese community and making enduring contributions to economic, cultural, educational, and community development.
In 2024, Chamber invited Teo Peng Hoe to work on the restoration of the 60-year-old Chamber building model. The restored model will be showcased at the Chamber building’s 60th anniversary special exhibition. (SCCCI Collection)
总商会与宗乡会馆联 合总会联合举办“知 恩于心、感恩于行” 晚宴，向李显龙资政 致敬，感谢他多年来 对华社的贡献与支 持。活动出席人数超 过1,400人，节目包 括新加坡华乐团精彩 演奏，及华社向李资 政赠送了一幅“惠我 无疆”书法作品。
TRIBUTE DINNER FOR SENIOR MINISTER LEE HSIEN LOONG
SCCCI co-hosted a tribute dinner with the Singapore Federation of Chinese Clans Association to celebrate Senior Minister Lee’s years of contribution and support for the Chinese community. The event, attended by over 1,400 guests, featured a performance by the Singapore Chinese Orchestra and the presentation of a calligraphy piece to Senior Minister Lee.
07/01 2024
总商会每年举办军 人节活动，重申企 业对国民服役和全 面防卫的支持。 今年是总商会第九 次举办此仪式，国 家发展部李智陞部 长担任宣誓仪式的 主持。
SAF DAY COMBINED REDEDICATION CEREMONY 2024 (CBD, SOUTH ZONE)
SCCCI holds the SAF Day annually to reaffirm businesses’ support toward National Service and Total Defence. This is the ninth year SCCCI has organised the ceremony. National Development Minister Desmond Lee officiated this year’s ceremony.
总商会连同主宾徐芳 达部长在国庆晚宴上 庆祝新加坡建国59 周年。2024年国庆 庆典主题是“全民一 心，团结一致”，突 出国人的集体力量， 强调全民团结。
59TH NATIONAL DAY DINNER
SCCCI celebrated Singapore’s 59th birthday alongside Guest-of-Honour Minister Chee Hong Tat at the National Day Dinner. NDP 2024’s theme is “Together, As One United People”, emphasising on the collective strength of all Singaporeans.
总商会与中国银行联合主 办新中商务论坛，规模随 去年升级，在新中建交34 年之际，邀请多位专家 探讨新中未来的合作与发 展。高级政务沈颖部长及 中国驻新加坡大使曹忠明 阁下莅临活动。
SINGAPORE-CHINA BUSINESS FORUM 2024
Co-organised by SCCCI and the Bank of China, this year’s forum saw an upscale from last year’s, where experts were invited to discuss future cooperation and development between Singapore and China, on the backdrop of the 34th anniversary of diplomatic ties between the two countries. Senior Minister of State Sim Ann and His Excellency Cao Zhongming, China’s Ambassador to Singapore, graced the event.
总商会设立TACOM 转型中心，旨在超越 现有的咨询服务，为 商团公会在数字化、 可持续发展和国际化 等关键领域提供深入 的战略指导。主宾高 级政务刘燕玲部长主 持了这一新倡议的揭 幕仪式。
LAUNCH OF TACOM TRANSFORMATION CENTRE
SCCCI launched the TACOM Transformation Centre, with the aim to go beyond existing advisory services to offer in-depth strategic guidance for trade associations and chambers in crucial areas like digitalisation, sustainability, and internationalisation. Guestof-Honour Senior Minister of State Low Yen Ling officiated the launch ceremony of this new initiative.
高泉庆会长率团出席 于吉隆坡举行的第十 七届世界华商大会。 这三天的会议围绕 擘划新序，共创新 局”主题，吸引了马 来西亚政府官员、世 界各地商界领袖及贵 宾参与，彼此交流并 探索商业机遇。
SCCCI DELEGATION AT 17TH WCEC
The SCCCI delegation, led by President Kho Choon Keng, attended the 17th edition of the World Chinese Entrepreneurs Convention (WCEC) held in Kuala Lumpur. The three-day conference of the theme “Reimagineering the Future” was attended by Malaysian government officials, business leaders worldwide, and distinguished guests to network and explore business opportunities.
为了庆祝总商会大厦落 成60周年，总商会于 中秋节当晚举办一甲子 庆典，并揭幕了大厦落 成一甲子特展。主宾文 化、社区及青年部唐振 辉部长在欢庆氛围表演 中，与我们共同见证这 历史性的一刻。
SCCCI BUILDING DIAMOND JUBILEE CELEBRATION AND MID-AUTUMN FESTIVAL DINNER
To commemorate 60 years of the SCCCI Building, SCCCI held the Diamond Jubilee Celebration on MidAutumn Festival and launched a Special Exhibition on the 60 years of SCCCI building history. In the presence of joyous performances, Guest-of-Honour Culture, Community and Youth Minister Edwin Tong joined us to witness this historic moment.
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QIAN SUN
PHILLIP LEE
RASIAH KUMANARUBAN
CAI YING
HAN ABIN
DUNG HENG KWAN
HUANG XIAOQIONG
TANG NGANG JOO
LEROY LIM
ANGELA LOH
MANISH ARNEJA
EUGEEN KHOO
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YEN HSIAO TING
WANG JING
TEO YI YONG
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EDWARD ZHOU
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AN HONGYU
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QI MENGYA
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HOU LI HU
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Others
Others
Others
Others
Others
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Others
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Others
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Others
Others
Others
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Others
Others
Others
Others
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