华商 Chinese Entrepreneur Issue 2 2019 by Singapore Chinese Chamber of Commerce & Industry

ISSUE 2

04 专访刘畅 Interview with Angela Liu Chang

CHI NESE E N TREPRENEU R

18 百变科技让企业模式天马行空 Paradigm-shifting Technologies in the Business Landscape

卷首语 PRESIDENT’S NOTE 借鉴“全方位女性”，完善自我和企业管理

TAKE A LEAF FROM ALL-ROUNDER CAREER WOMEN

在近几年的企业交班案例中，我看到更多的“80后”、“90

More second-generation of Chinese entrepreneurs,

后”华商第二代继承家业，这些高学历、洞察新市场先机的新秀，擅

born after 1980, have taken over their family

长推动专业化、国际化、数字化的发展道路，放眼更高格局。而更可

businesses in recent years. This highly-educated new

贵的是，当中有越来越多的女性。

breed with a nose for new opportunities are good at

譬如《福布斯》的调研报告显示，中国女性企业家在全球创业

professionalising, internationalising, and digitising

版图中占据越来越大的位置，其主要原因是不怕失败，敢于多次创

their businesses. Even more significant is the growing

业，并在以互联网为基础的新经济中获得极佳的发挥空间。

number of women among them.

本期《华商》就专访了新希望六和集团董事长刘畅女士。这

A 2017 Forbes survey revealed that women

名“80后”从父亲手中接过中国最大的畜牧企业后，紧

in China making up an ever larger share of the

密地融入团队，并明确自己的领导方向——在下

world’s entrepreneurial force. The main reason is

游食品领域发展巨大空间，立志推动这家畜牧企

that they are not afraid of failure, possess a strong

业升级为食品王国。

entrepreneurial spirit, and could play to their

总商会今年的妇女节晚宴即邀请刘畅，联同新加坡杰出的事业女性如DP Architects总裁

strengths in the digital economy. This issue of Chinese Entrepreneur has interviewed

陈丽君、The Great Room 联合创

Ms Liu Chang, Chairman of New Hope Liuhe Group.

始人兼总裁洪可珈进行精彩分

After taking over China’s largest livestock enterprise

享。这些事业女性集女儿、母

from her father, this “Generation Y” successor defined

亲、妻子、机构领导身份于

her own direction – greater growth in the food sector and

一身，游刃有余，灵活扮演

turning this husbandry business into a food kingdom.

“全方位女性”。中华传统

SCCCI’s International Women’s Day Celebration

中“修身、齐家、治国、

Dinner this year specially invited Ms Liu to share her

平天下”的美好理想及其

experience alongside CEO of DP Architects Ms Angelene

中的管理智慧，在当代女

Chan and co-founder and CEO of The Great Room Ms

性上绽放异彩，也是企业家

Jaelle Ang – Singapore women with outstanding careers.

在自我和事业管理上可借鉴

These women are all-rounders playing their part well

的楷模。

as daughter, mother, wife, and business leader. The Confucian ideal of extending from one’s self-management to managing one’s family, then the state and the world 会长

Rola nd Ng , SC C CI Pre s id e nt

shines forth through these women. They are a model that all entrepreneurs can learn from.

华商 | C H I N E S E E N T R E P R E N E U R

ISSUE 2 / MAR 2019

编辑顾问

EDITORIAL ADVISORS 黄山忠 Roland Ng San Tiong 蔡其生 Thomas Chua Kee Seng 吴绍均 Ng Siew Quan 林玉勤 Lim Geok Khoon

CONTENTS

出版监督

PUBLICATIONS SUPERVISION 吕正扬 Lu

Cheng Yang

主编

CHIEF EDITOR 梁廷昭 Leong

Teng Chau

Up Close

ASSISTANT EDITOR Wing Cheong

撰稿

STAFF WRITERS

“新式”家具探索自身个性与强点：专访新加坡家具行业协会会长翁礼豪

From Traditional Animal Husbandry to Food Kingdom: Interview with Angela Liu Chang, Chairman of New Hope Liuhe Co Limited

张明亮 Larry Teo 李胜保 Lee Sin Poh 明永昌 Ming Wing Cheong 陈丁辉 Tan Teng Phee

特约撰稿

商团动态 Industry Dynamics

传统畜牧企业升级为食品王国：专访新希望六和股份有限公司董事长刘畅

助理编辑明永昌 Ming

华商人物

Defining the Character of Singaporean Furniture: Interview with Mark Yong, President of Singapore Furniture Industries Council

CONTRIBUTOR 邓体顺 Thomas

Deng

行销

MARKETING 黄兆荣 Leonardo

Wong

热点专题 Focus

百变科技让企业模式天马行空

设计

DESIGN

Anchored in Integrity A Perfect Gentleman of the Old School: First SCCCI President Goh Siew Tin

出版

PUBLISHER 新加坡中华总商会

Singapore Chinese Chamber of Commerce & Industry 9 Jurong Town Hall Road #04-01 Trade Association Hub Jurong Town Hall Singapore 609431 Tel: (65) 6337 8381 Fax: (65) 6339 0605 E-mail: corporate@sccci.org.sg Website: www.sccci.org.sg

上网阅读电子版《华商》 View Chinese Entrepreneur online www.sccci.org.sg

SME心声

Voice of SMEs 海外市场工作坊：第一线感受中国奔腾的脉搏

Overseas Market Workshop: Gaining a First-hand Feel of the Economic Pulse of China

Chinese Entrepreneur is produced and designed by Media Group Pte Ltd (Registration No. 200105565G) 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 Media Group Pte Ltd. The views expressed in Chinese Entrepreneur 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 Entrepreneur, Singapore Chinese Chamber of Commerce & Industry, 9 Jurong Town Hall Road, #04-01, Trade Association Hub, Jurong Town Hall, Singapore 609431. Tel: (65) 6337 8381 Fax: (65) 6339 0605 E-mail: research@ sccci.org.sg. Unsolicited material will not be returned unless accompanied by a self-addressed 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) 121/09/2018. Printed by KHL Printing Co Pte Ltd (Registration No. 197801823M).

Passing the Torch 旧传统下的完人：总商会首任总理吴寿珍诚信为本

Paradigm-shifting Technologies in the Business Landscape

Media Group Pte Ltd

薪火相传

商会时讯 Moments

三大种族商会交流晚会 Inter-Chamber Networking Night

中国国务院总理李克强欢迎晚宴

中华脉搏

Welcome Banquet in Honour of Chinese Premier Li Keqiang

China Beat 战略竞争时代的中美关系新格局 China-US Relations: Managing a New Era of Strategic Rivalry

SCCCI SME ICC 华商交流站

欢迎新会员 Welcome Aboard

Chinese Entrepreneur (华商) is a bilingual publication. While the publication carries only selected articles in English, we can provide an English translation of the Chinese articles for our readers upon request.

DBS_Scci Magazine_200mm (W) x 260mm (H).pdf

17/12/18

12:26 pm

华商人物 | U p C l o s e

传统畜牧企业升级为食品王国专访新希望六和股份有限公司董事长刘畅

FROM TRADITIONAL ANIMAL HUSBANDRY TO FOOD KINGDOM INTERVIEW WITH ANGELA LIU CHANG, CHAIRMAN OF NEW HOPE LIUHE CO LIMITED

华商 | C H I N E S E E N T R E P R E N E U R

U p C l o s e | 华商人物

华商 | C H I N E S E E N T R E P R E N E U R

华商人物 | U p C l o s e

岁成为中国最年轻的女首富，33岁当上几百亿营业额

China’s

youngest

richest

规模上市公司的董事长，新希望六和股份有

woman. At 33, she was the chairman

限公司董事长刘畅，在许多人的印象中，是

of a multi-billion-dollar listed company.

中国前首富刘永好之女，带着“女强人” 、

In the impression of many, Angela

“富二代”、“白富美”的光环。小时候

Liu Chang, chairman of New Hope

的她，喜欢时尚漂亮的东西，觉得父亲从事

Liuhe Private Limited, the daughter

的养猪业又脏又臭，对继承家业不感兴趣。

of onetime richest man in China Liu

是什么缘故让刘畅后来改变看法？独立掌

Yonghao, is an “iron lady”, an “affluent

舵后，这位“80后女总裁”野心勃勃，积极

second generation” and a “fair wealthy

向产业链两端延伸，不只要做“饲料大王”

beauty”. When she was a child, she

和“养猪大王”，还要打造一个新的食品

liked fashionable and beautiful things

王国。

t the age of 26, she became

华商 | C H I N E S E E N T R E P R E N E U R

U p C l o s e | 华商人物

and felt that the pig farming trade of her father was dirty and foul-smelling.

It is said that when you were a child you were not interested in your father’s trade and unwilling to go the pig farm. How did you begin to be interested in this industry and even fall in love with it?

She was not interested in inheriting

When I really took a stab bit by bit in

the family business. What caused Ms

joining the work and grew up together

Liu to change her view later? After she

wholeheartedly with my colleagues, I fell

took over to independently helm the

in love with this career over time. I am

company, this “Gen Y chairwoman” is

increasingly aware that having a vocation

ambitious and actively extends it to

in a rural village is a very fashionable

both ends of the industrial chain - not

thing. If the pig farming and animal feed

only to be the industry leader in animal

industries could be made hip, leading to

feed, manufacturing and pig farming,

many university graduates wanting to

but also to create a new food kingdom.

come to the rural villages, this idea could then become a truly trendy one. For that I

据说您儿时对父亲从事的行业不感兴趣，也不愿意到养猪场去。是在什么情况下，您开始对养猪业感兴趣，甚至爱上它？

fell in love with this industry.

当我渐渐地真正切入工作中，全心全意地和同事们共同成长时，我逐渐爱上了这个事业。我越来越发现做农村的事业就很时尚，如果能把养猪、饲料这个行业也能做得时尚，让以很多大学毕业生想来农村了，这才是一个真正时尚的念头，所以

新希望集团在全球30个地区建立了600多家分公司。图为新加坡分公司。

我爱上了这个行业。

华商 | C H I N E S E E N T R E P R E N E U R

华商人物 | U p C l o s e

您曾自己创业，涉及时尚、广告、餐饮等不同领域，但最终为何选择继承父业？作为年轻一代，对传承家族企业有什么经验可以分享？对于接班、传承这件事，我认为是出自一种责任，更现实的的原因是，我认为这是一个非常好的大的舞台。目前中国正处在经济转型过程当中，我们的企业从1982年创业，到今天已经37年了，中国有37年历史的私营企业并不多。因此，这个37年的时间带给这个平台一种莫大的信誉、声誉。有这样一个长时间声誉的舞台，对于我来说就是一个非常好的舞台。我们从事的是最接地气的农牧食品行业，我们从最早的饲料开始，到养殖、饲料、屠宰、加工，以及深加工。从田间到餐桌，应该说是服务于整个社会的，这个链条足够长，是一个大的舞台。因为它足够大，可以成就很多不同的角色，可以尝试做销售，可以尝试去做一个产品，也可以尝试做一个战略的制定人。所以这对于我来说是非常有诱惑的。我当时面对这样一个大平台的时候，我选择来接手这个挑战。我觉得是来源于一颗很自由的内心，在面对挑战的时候，更多的看到的是机遇，所以挑起了这个担子。如果遇到与父亲意见不合的情况，我会向父亲征求意见，比如说重要的人事权，一开始他会参与意见，现在他避免先给意见，他学会信任我的判断。我们基本能够保持一致，他在放手，我在抓牢；他往后退，我往前进。

华商 | C H I N E S E E N T R E P R E N E U R

U p C l o s e | 华商人物

华商 | C H I N E S E E N T R E P R E N E U R

华商人物 | U p C l o s e

You once started your own business, stepping into different fields such as fashion, advertising, food and beverage, etc. Why at the end you chose to inherit your father’s business? As one from the younger generation, what experience could you share about inheriting family business?

华商 | C H I N E S E E N T R E P R E N E U R

Regarding the issue of taking over and succession, I think it comes from a sense of responsibility. The more concrete reason is that I think this (company) provides a very big and good performing stage. Currently, China is in the process of

economic

transformation.

Our

business began in 1982 and that is 37 years to date. There are not many private enterprises with 37 years of history in China. This 37-year

U p C l o s e | 华商人物

period has brought to this platform a huge reputation for credibility and distinction. To me it is very good that we have a long-standing reputation. We are involved in the agri-food industry, whch is very connected to the ground, starting with animal feed in the earliest days and on to animal husbandry, animal feed, abattoir, food processing, and value-adding processing. From the field to the meal table, we can say it serves the whole society. This chain is long enough to be a big performing stage. Because it is big enough, it brings about many different roles. You can try your hand in sales, in making a product,

At the time I was faced with such a

or in being a strategy planner. So, this is

huge platform, I chose to take on the

very tempting for me.

challenges. I think that flowed from a heart within that is largely free. When faced with challenges, I see opportunities more than anything else,

我越来越发现做农村的事业就很时尚，如果能把养猪、饲料这个行业也能做得时尚，很多大学毕业生想来农村，这才是一个真正时尚的念头，所以我爱上了这个行业。

and so I took over the onus. If I run into a situation of disagreeing with my father, I will seek his advice, such as concerning important personnel matters. Initially he would put in his opinion, but now he avoids giving advice first and has learnt to trust my judgment. We are basically consistent, with him letting go and me tightening my hold, and him taking a step back and me moving forward.

华商 | C H I N E S E E N T R E P R E N E U R

华商人物 | U p C l o s e

接过领导职务后，集团有哪些发展和改变？集团的未来发展方向又如何？

公司新的战略规划：一、做强饲料，做市场绝对的领导者和整合者二、做大养猪，打造养殖效率的行业标杆

企业有三方面成长：干部年轻化、信息化升级、科技化转型。

三、做优食品，打造“健康、营养、美味、便利”的标准；

干部年轻化：

四、做精白羽肉禽，我们在这个行业已经

高层团队70后，分子公司总经理均为

做到了国内第一的水平；

30-35岁。新招大学毕业生超过3000人。创立新希望大学，让产业链上的从业人员，也能逐步实现年轻化、专业化。

五、做深海外业务，巩固东南亚、布局非洲，延伸产业链，做中国农牧食品企业国际化的排头兵。

信息化升级：一是紧扣成本和效率的信息化升级，比如正在做的财务共享中心。二是围绕市场服务力的信息化升级，比如开发APP服务养殖界的VIP。三是围绕组织管理的信息化升级。比如食品安全物联网管理系统。

After taking over the baton, what developments and changes has New Hope undergone? What is its future direction? The company grew in three aspects:

四是借助信息化工具实现决策智能

Having a younger core team, upgrading

化，比如建立全行业领先的饲料营养与原

in informatisation, and technological

料数据库。

transformation.

科技化转型：

Younger core personnel:

打造夏津基地，创造“现代农业、生

Those in the top-level team were

态修复、精准扶贫”三结合模式。 2018年把“科技托起新希望”做为企业的战略主题之一，成立科技引领小组。先后获得6个国家科技进步二等奖，700多项国家技术专利。

born in the 70s. General managers of subsidiary companies are all 30 to 35 years old. Recently recruited university graduates number more than 3,000. The establishment of the New Hope

华商 | C H I N E S E E N T R E P R E N E U R

U p C l o s e | 华商人物

University will also gradually help

new hopes” was made one of the

to realise the goal of having a higher

strategic themes of the company, and

proportion of young and professional

a technology spearheading group was

personnel along the industrial chain.

set up.

Upgrading in informatisaton: The first is an upgrading for tracking

Won six times the second prize of the National Science and National

cost and efficiency closely, such as

Technology

what is now being done by the financial

attained more than 700 national

sharing centre.

technology patents.

The second upgrading centres on the

Progress

Award

and

The company’s new strategic plan:

strengths of serving the market, such

1. Make our animal feed a superb

as developing an APP to serve VIP in

product and be the absolute leader and

the animal husbandry sector.

consolidator in the market

The

third

strengthening

revolves our

around

2. Make pig farming a massive business,

organisational

creating efficiency benchmarks for the

management. For example, having an

husbandry industry

IoT management system for food safety.

3. Make our food products excellent and

The fourth is the use of information

create standards for “health, nutrition,

tools to achieve intelligent decision-

deliciousness, and convenience”;

making, such as the setting up of an

4. Be expert in white-feathered poultry.

industry-leading database for feed

Within China we have already made

nutrition and raw materials.

the No. 1 grade.

Technological transformation:

5. To go deeper in our overseas business,

Develop the base in Xiajin and

consolidate our stakes in Southeast Asia,

create a three-in-one model of “modern

carry out plans in Africa, extend the

agriculture, ecological restoration, and

industrial chain, and be the vanguard

precision poverty alleviation”.

among China’s agricultural and animal

In 2018, “Technology holds up

food enterprises to go international.

华商 | C H I N E S E E N T R E P R E N E U R

华商人物 | U p C l o s e

新希望集团从1996年起开始国际化布局，在全球 30个地区建立了600多家分公司，业务横跨四大洲。集团是如何把握海外扩张的机遇的？

这是对于我们来说最大的一个赛道。那么接下来的话，因为我们国内自己的情况变了，我们的消费升级了，我们的供需不平衡变了，我们需要更好的产品

在九十年代海外扩张头几年，我们刚

了，因此我们需要有品牌引领、食品安

刚走出来的时候的战略就是推广我们最擅

全、资源丰富的合作方跟我们来对接，利

长的饲料厂，然后到比我们发展更慢一点

用投资的方式让我们寻找到更好的合作伙

的国家去做复制，通过这种复制同时把它

伴。我们很清楚地说我们最大的资源就是

当做一个触角，让它能够去观察这个社会

中国市场，然后我们最大的能力也是了解

其他能够发展的一些可能性。目前我们的

中国市场，我们最大的优势就是我们在中

战略会有新的调整，是以资本的方式和利

国市场沉淀了三十多年的声誉、我们珍惜

率的方式结合起来。我们在这个行业之中

的人际关系和我们不停创新的能力。所以

之所以主要找发展中国家，是因为发展中

我相信，我们只要坚持这样做下去，还是

国家对于肉蛋奶的需求是有人口红利的，

很有发展的未来的。

华商 | C H I N E S E E N T R E P R E N E U R

U p C l o s e | 华商人物

New Hope Group has started positioning itself for internationalisation since 1996 and has established more than 600 branches in 30 regions around the world, with operations spanning four continents. How did New Hope seize the opportunities for overseas expansion? In the first few years of our overseas expansion during the 1990s, the strategy

presently undergo new adjustment, which is to combine the modes of capitalisation and credit interest. The reason why we, among players in this industry, mainly look for developing countries is because they have the demographic dividend that makes for a demand for meat, eggs and milk. This presents a big market for us where can have an edge. Then,

going

forward,

because

then as we just ventured out of China was

things in our country have changed,

to promote our feed mill, which we were

our consumption has moved upscale,

best at doing. We next went on to replicate

our imbalance between supply and

it in countries that had developed

demand has altered, and we demand

slower than us. Meanwhile we used this

better products, our company requires

replication as a feeler to observe some

collaborators

of the other development possibilities in

leadership, food safety, and rich in

each of these societies. Our strategy will

resources to link up with us. We will use

competent

brand

investment as a method to help us find better partners. We say loud and clear that

Women in the working world are good at communication. More inclusive, we know better how to forgive. Compared with men, women sometimes are less interest-oriented, but instead would do a certain thing to gain inner happiness.

our biggest resource is China’s market and, next, our greatest ability is also our understanding of the Chinese market. Our biggest strengths are our reputation in the Chinese market which has solidified for more than 30 years, the interpersonal relationships that we cherish, and the ability to ceaselessly innovate. Therefore, I believe that as long as we persist in doing these down the road, we will still have a very promising future for development.

华商 | C H I N E S E E N T R E P R E N E U R

华商人物 | U p C l o s e

刘畅在位于山东夏津的农牧场视察。

作为一位较成功的中国女性企业家，您认为女性企业家的优势是什么？您怎样看待今天女性在中国经商的环境？

点，更在意细节，这是我们的长处。我觉得中国是一个女性经商和在职场上发展最好的一个环境，我们很少有听说对女性不公平，我们甚至认为，作为女性在职场上我们有特殊的能力，因为我们善于沟通，我们比较包容，我们比较懂得原谅。相

我觉得女性企业家的优势在于更在意

对于男性来说，女性有时候没有那么功利，

细节，因柔软而强大。我觉得女性的这种柔

而是为了收获内心的快乐去做一件事情。我

软，可能比刚硬更强大，但这需要有智慧，

觉得这就是女性的一些优势，我自己就是这

我觉得自己还有欠缺，还在慢慢去挖掘女性

样的，我比较喜欢沟通，你会发现沉淀了一

真正的宝地。女性企业家的感受更细微一

定基础的沟通就有巨大的价值。

华商 | C H I N E S E E N T R E P R E N E U R

U p C l o s e | 华商人物

As a relatively successful female entrepreneur in China, what do you think are the strengths of female entrepreneurs? What do you think of the environment for women doing business in China today?

feeling and more attentive to the finer points. This is our strength. I think China has the best environment for women doing business or to grow at the workplace. We rarely hear about unfairness towards women. We even think that

I think the strength of female

women in the working world are good at

entrepreneurs is that they care more

communication. More inclusive, we know

about details. Because they are soft,

better how to forgive. Compared with men,

they are powerful. I think that this

women sometimes are less interest-oriented,

tenderness of women may be stronger

but instead would do a certain thing to gain

than steeliness and toughness. However,

inner happiness. I think these are some of

this needs wisdom. I feel that I am still

the advantages of womanhood. I am like

lacking in this, still slowly exploring the

this. I like communicating. You will find that

real treasure trove of femininity. Female

communication that has settled on a certain

entrepreneurs are more refined in their

foundation has great value.

华商 | C H I N E S E E N T R E P R E N E U R

热点专题 | F o c u s

百变科技让企业模式天马行空

华商 | C H I N E S E E N T R E P R E N E U R

F o c u s | 热点专题

科

技进步日新月异，不进则退.当今世界，科技竞争是一个国家

新加坡科技研究局企业发展部代总司长

核心能力的竞争，科技竞争一旦落后足以使

廖荣顺

一个国家走向衰败。中小企业作为一个国家经济发展的动力，也只有通过科技创新强化自身实力，才不容易被淘汰或取代。新加坡政府深知此理，因此在1991

新加坡科技研究局引领企业迈开科技创新脚步更多企业意识到“颠覆式科技”的威力

年成立新加坡科学技术局（后来更名为

说到“科技”，不得不提当前备受关

新加坡科技研究局，简称 A*STAR），致

注的“颠覆式科技”。透过科技创新，产

力于把科研成果带入业界，鼓励企业利

品或服务能以低价、好用、便利等特点，

用科技升级转型。越来越多企业也开始

破坏旧有市场，甚至取代旧产品。它的

重视科技自主创新，谋求通过科技提升

“威力”足以让一个规模小、资源少的新

竞争力，创造新商机。

创企业，或称霸多年的大企业几乎一夜颠

本期专题介绍本地中小企业

覆，改变市场格局。

honestbee、Commune和Racer

对此，新加坡科技研究局（A*STAR）

Technology如何把握科技变革的历史机

企业发展部代总司长廖荣顺指出，越来越多

遇，抢占发展先机，以及A*STAR如何在

本地中小企业已经意识到，要免受“颠覆式

科研界和产业界扮演桥梁角色，协助中

科技”浪潮带来的冲击，就不能墨守成规，

小企业采用科技，利用科技开拓新商机。

一定要利用科技，主动改变。廖荣顺说： “‘ 颠覆式科技 ’影响深远，Grab、AirBnb和支付宝等公司的成功，清楚地说明这一点。在政府机构、媒体、各商会和行业商团的共同努力下，中小型企业对创新科技的采纳程度已有所提高。” 他指出，通过举办商展、说明会等不同活动，有更多企业关心如何利用科技实现转型。此外，为了协助企业赶上“工业4.0” 的列车，A*STAR也推出了“模范科技制造厂”的计划，公司能够利用A*STAR现有的工具与设备测试科技和改善生产流程，让研

A*STAR “模范科技制造厂”计划，企业、研究员和科技供应者可共同创造和测试最新创意和科技。（照片由A*STAR提供）

究员和科技供应者等共同创造和测试最新创意和科技。

华商 | C H I N E S E E N T R E P R E N E U R

热点专题 | F o c u s

缺乏创新人才：企业运用科技一大阻力

义，与企业目标保持一致。技术提升计划

然而，不是所有企业在运用科技方

（Technology for Enterprise Capability

面都能得心应手。廖荣顺说，有些中小型

Upgrading Programme，简称T-Up）则

企业对于采用科技创新没有一个清晰的目

是通过安排科学家或工程师派驻到企业，

标，以致相关计划裹足不前。有的虽然目

协助企业开发和实施研发项目。

标清晰，但因为缺乏创新人才或技术人员，计划无法顺利推进。优先采用哪一种科技，以及判断投资科技所带来的回报，对一些企业来说也是挑战。

商会和商团协助企业应对挑战廖荣顺也呼吁商会和商团与A*STAR加强合作，通过自身的优势，协助会员和同业

对此，廖荣顺指出，A*STAR推出

推进科技运用与研发。他说：“商会和商团

多项计划，帮助那些有意通过科技提

紧贴市场脉搏，对行业的长期挑战和短期需

升竞争力的企业。例如，商业与科技

要较为了解，与本地企业联系密切，能够更

运作蓝图 (Operation & Technology

精准地指出整个行业所面临的共同问题。”

Programme，简称OTR)协

他说，商会和商团可以鼓励会员参加

助企业制定经营和技术方案，以更好地把

A*STAR所举办的活动，也可以号召企业

资源配置到各种能够满足企业和市场需要

与A*STAR探讨合作，共同解决行业面对

的技术上，并确保资源配置具备战略意

的问题。例如，新加坡学校交通业联合会

Roadmap

日前与A*STAR的新加坡制造技术研究院（SIMTech）合作，发展出一套新的校巴管理系统，当校巴安全抵达学校，或即将到接送点时，家长会收到通知，这样可以减少校巴迟到或学生赶不上校巴所引发的纠纷。廖荣顺建议，企业在探讨要如何利用科技时，不妨从日常运营中发现问题，例如生产力下降、机器频频故障、生产流程不顺畅等，然后试图通过科技解决问题。除了科技本身，企业也应该考虑投资在人才培训和技能提升方面，否则员工无法有效运用这些科技，会影响效果。廖荣顺也强调，政府有多项计划帮助企业应付运用科技，企业大可不必担心要独自应对挑战，应该善用这些资源。

华商 | C H I N E S E E N T R E P R E N E U R

F o c u s | 热点专题

honestbee 科技改变实体商店购物体验有人说，电子商务是21世纪世界经济的引擎。随着电子商务的飞速发展，越来越多人购物从线下转移到线上，像honestbee honestbee 创办人

Jo n a t h an Low

（诚蜂）这样的服务商应运而生，让消费者能够足不出户就能购物，快捷又便利。 honestbee是一家2015年7月在新加坡成立的新创公司，提供线上生鲜代购，熟

Jonathan Low说电子商务与实体店各有优势，关键是如何通过科技来优化购物模式。

食外送等服务，由Joel Sng、Isaac Tay和 Jonathan Low三位年轻人共同创建。虽然

面对电子商务的巨浪来势汹汹，不少人

网购早已不是什么新鲜事，同类服务不胜枚

判定“实体店将亡”，但honestbee却不认

举，但三人却能凭着聪明与实力，成为这一

同，反而2018年10月在新加坡开了第一家智

领域的佼佼者，在短短几年内，成功筹资

能实体超市。位于巴西班让，占地超过6万

1500万美元，如今业务已拓展到香港、东

平方英尺的habitat by honestbee，是本地

京、台北、马尼拉等地。

第一家不设收银柜台也没有收银员的超市，

和许多其他竞争对手不同，honestbee

从结账到包装均由机器代劳，付款则是通过

采用无仓储的运作模式，与FairPrice、Cold

honestbee的电子钱包。消费者选好货品

Storage等本地超市合作，向消费者提供数

后，不用排队结账，也不用自行包装。只要

万种商品选择，让他们能够更方便地获取一

把购物篮推到结账处，扫描二维码，系统就

切生活所需。消费者下单后，由代购员为他

会自动扫描货品结账，再送往包装。

们挑选生鲜家用品，再交给配送员配送，并

Jonathan说， habitat by honestbee

保证一小时内到货。与合作商家的抽成，是

是公司研发新科技、试验新技术、应用新概

公司的主要盈利模式。没有库存的低成本运

念的地方，通过不断创新与测试，提升顾客

作，让公司可以专注于研发科技提升系统，

的购物体验。电子商务与实体店各有优势，

为消费者和合作商家提供更好的服务。

优势互补、相互结合将是发展趋势。随着

Jonathan Low说：“我们的目标是，

人们的生活越来越忙碌，对便利的追求也越

顾客在什么时候需要什么，我们都可以满足

来越高，关键是如何通过科技来优化购物模

需要。除了生鲜食品外，也包括熟食外送。

式。展望未来，honestbee希望与更多商家

我们的代购员训练有素，为顾客挑选优质商

合作，共同为“NewGen Retail”（新一代

品，保证新鲜。”

零售）的愿景努力。

华商 | C H I N E S E E N T R E P R E N E U R

热点专题 | F o c u s

Commune 利用虚拟实境（Virtual Reality，VR）技术，让顾客预览并设计心目中的住所。

Commune 董事总经理

许志恩 Commune 虚拟实境体验装修效果

许志恩说，未来将提供增扩实景（Augmented Reality， AR）服务，预览室内设计的效果更加真实。

公司董事总经理许志恩说：“这项服务推出以来屡获好评。因为通常很久才做一次

新加坡是个弹丸小国，寸土寸金。为

装修，顾客都会比较认真，希望做得尽善尽

了善用居住空间，许多人都不惜砸下重金，

美，VR技术在此大有用武之地，用过的顾客

费心费力为自己的住家装修设计，以求更加

也会推荐其他朋友来尝试。”他信心十足地

舒适美观。在电子商务兴起、竞争日益激烈

表示，未来将提供增扩实景（Augmented

的家具行业中，Commune胆敢借虚拟实境

Reality， AR）服务，效果更加真实。

（Virtual Reality，VR）技术突破自我，从家具零售跨步到属于服务业的室内设计领域。

成立迄今八年的Commune，借助数码科技，坚持自家设计理念，致力于家具设计

该公司不久前在总部展厅腾出空

和时尚生活的引领，产品兼具实用性和高品

间，安装VR技术，让顾客预览并设计

质，以人为本的设计精神，使其家具既美观

心仪的房子。顾客只要提交房间的平面

又符合现代人的需求。

图，Commune就能通过电脑画出三维模

许志恩说，Commune的定位是“以最

型，并置入地板、墙壁、窗帘、虚拟光源等

好的价格，提供功能、美感和品质兼备的家

元素，然后将顾客所选的家具摆设到模型

具”。除了VR，公司也在材料研发方面大力

中。最后，客户只要戴上VR眼罩就可以预

投资，确保制造家具所使用的木材等，对人

览整体效果，包括家具大小、灯光摆设及色

体健康无害。优良品质使Commune赢得消

调是否合适。此外，Commune也提供室内

费者的信任和忠心。目前，该公司在区域市

设计咨询，由专业设计师帮助顾客作出细节

场占有不小份额：在中国有35家分店，马来

上的调整，直至满意。

西亚三家，澳大利亚一家。

华商 | C H I N E S E E N T R E P R E N E U R

F o c u s | 热点专题

Racer Technology 以创新打造企业核心竞争力

力，公司每年投入至少100万元进行研发。工厂平均每三个月就要装修一次，以更换或添购

精密工程公司Racer Technology制造医

更先进的仪器，生产更优质的产品。公司也是

疗器械20多年，一直致力于采用创新科技，以

本地最早采用“模范科技制造厂”解决方案的

求保持在行业的竞争力。

企业，与A*STAR旗下的新加坡制造技术研究

公司总裁辜祈儒以产品设计起家，曾在海内外多家企业担任职务，后来自立门户，以生产和加工高科技产品为主。当时，为了帮客户生产医疗器材，他收购了本地一家塑料模具

Racer Technology 总裁

辜祈儒

院（SIMTech）合作，通过科技优化工厂的营运管理和设备效率，例如通过自动化计算机台的使用效率，节省人力。辜祈儒认为，目前本地企业普遍对科技

公司，并将公司更名为Racer Technology，

开发和应用的能力还不够强，科技人才还比较

从此踏入了医疗器材制造这一行业。

缺乏。过去几年，Racer Technology与本地理工学院、工艺教育学院和大学合作，为学生

如今，总部设在新加坡樟宜南的 Racer

提供实习机会，希望能够为新加坡培育更多科

Technology，有1000名员工，

在印尼峇淡岛、马来西亚和印度均有设厂，在美国设有设计工作室。客户包括 Medtronic、PerkinElmer、Spacelabs

辜祈儒相信以创新打造企业核心竞争力，公司每年投入至少 100万元进行研发。

技人才。

等国际知名医疗器材品牌。除了设计医疗器材，也生产工业用品和消费产品，占公司业务三成左右。几年前，公司与美国公司Nanomix研发了一款伊波拉（Ebola）病毒快速检测器，可将原有的测试时间由一至两周，缩短至数分钟。如今，这款测试器的用途可扩大至心脏等其他疾病。公司的另一项创新是在快速检测器所使用的试剂（reagent）容器上导入无线射频识别科技（RFID）。辜祈儒指出，自美国发生九一一恐怖袭击后，运送液体的成本非常高昂。公司为客户生产的试剂，只有扫描RFID才能开启使用，可以提防假冒，保障客户不会收到品质有瑕疵的产品。辜祈儒相信以创新打造企业核心竞争

华商 | C H I N E S E E N T R E P R E N E U R

S M E 心声 | V o i c e o f S M E s

海外市场工作坊第一线感受中国奔腾的脉搏

“海外市场工作坊”学员李天成（右二）参观重庆新泰机械厂。

华商 | C H I N E S E E N T R E P R E N E U R

V o i c e o f S M E s | S M E 心声

李天成参观重庆新泰机械厂。

国经济社会发展一日千里，要准

目标。以2018年为例，六月的重庆团重点

确把握当前中国的发展趋势，

考察“一带一路”和如何善用中国西部经济

了解各产业的最新动向，亲身到中国各地考

发展的机遇；七月的杭州团介绍中国“区块

察，与当地官员和行业人士交流接触，是致

链”技术和应用的发展趋势；十月的上海团

胜的不二法门。为了让本地商家第一线感受

着重考察中国互联网金融的发展和演进、人

中国奔腾的脉搏，新加坡中华总商会和新加

工智能、大数据、互联网思维与商业模式创

坡企业发展局去年一共举办了五次“海外市

新等；11月的昆明团和12月的青岛团则分别

场工作坊”，分别前往重庆、杭州、上海、

考察当地的养生养老行业和与儿童产业相关

昆明和青岛考察，参加的商家来自各行各

的现代服务业。

中

业，反应踊跃。商务考察不同于观光团，参加者都是抱着交流学习和寻求商机的期望，不能沦为

“一带一路”新机遇中国制造从新加坡走向世界

走马看花。为了确保团员都能从中收获，每

天成海事电器设备私人有限公司董事经

一次的“海外市场工作坊”都制定了明确的

理李天成去年六月随团前往重庆，除了对中

华商 | C H I N E S E E N T R E P R E N E U R

S M E 心声 | V o i c e o f S M E s

国的“一带一路”倡议所带来的机遇有更深

能力，却苦于没有路径拓展国际市场，产品

刻的认识外，也通过新中两国的互联互通项

出口外销遇到困难。

目合作机制，在重庆找到了合作伙伴，实现了公司的业务转型。李天成从事海事设备制造多年，因为在新加坡生产设备的成本越来越高，几年前

李天成说：“中国地方大，天然资源丰富、技术人才素质也高，这些都是新加坡无法比拟的。但新加坡对于产品打进国际市场有丰富的经验。”

萌生在中国生产设备的念头。在重庆考察期

“一带一路”为“中国制造”走出去开

间，他发现当地有许多工厂，有批量生产的

辟空间，李天成把握这一机遇，在重庆考察期间走访多家厂商了解情况，最后顺利找到了制造采油树和钢圈的合作伙伴。当地厂商生产制造产品，而李天成的公司则成为产品在中国以外的国际市场的销售全权总代理，把产品从新加坡推向世界各地。李天成参加考察团后不到一个月，重庆市政府和中新（重庆）战略性互联互通示范项目管理局便派员来新加坡，到他的公司参观以进一步了解情况，促成了这一次的合作。李天成说，很庆幸自己参加了考察团，让他的生意找到新的生机。

成功打进中国市场新加坡芭蕾学院重庆开业今年六和十月，芭蕾与音乐培训中心乐翻天国际艺术学苑（The Ballet & Music Company）董事王丽君怀着打入中国市场的决心，分别到重庆和上海考察。王丽君说，在考察期间会见了多名政府部门官员，金融专家和法律专才。这使她能够第一手掌握中国营商环境的信息，保障企业合法权益的相关条例和政务流程，并且与当地企业建立伙伴关系，探索合作潜力。重庆市政府和中新（重庆）战略性互联互通示范项目管理局派员来新加坡，到李天成的公司参观，最后促成双方合作。

华商 | C H I N E S E E N T R E P R E N E U R

V o i c e o f S M E s | S M E 心声

在上海考察期间，王丽君（右三）随团到上海交通大学上课，了解中国未来的经济发展前景、趋势和政策取向。

她说： “此行广泛涵盖了在重庆开展业

王丽君认为，中国在引领人工智能技术

务的基本知识。这些资源对我们在重庆建

上是追风蹑影的超越者。大家应当多了解这

立实体公司不可或缺。此外，我们也与其

一趋势，进而通过创新方法来更好适应智能

他新加坡民营企业和商务人士取得联系，

经济的发展需求。

创建立交流平台，促进了我们在重庆长远

至2018年底，乐翻天国际艺术学苑成功在重庆开设三家分店。在王丽君看来，重

发展的需要。” 在上海期间，王丽君随团到上海交通大

庆作为中国西南地区最大的工商业城市，是

学上课，由专家学者分析讲解中国未来的经

她在中国发展业务的绝佳地点。展望未来，

济发展前景、趋势和政策取向。此外，她也

她希望在重庆站稳脚跟，并继续开拓中国市

出席了几场交流宴会和主题活动，在拓展人

场。她也期待新中经贸交流合作进一步深

脉方面收获良多。

化，这有利于本地商家进一步在中国发展。

华商 | C H I N E S E E N T R E P R E N E U R

S M E 心声 | V o i c e o f S M E s

从考察中发现新商机激发新思维经营儿童体操学校的BearyFun Gym 董事沈可凌，去年六月和12月分别到重庆和青岛考察。在青岛，她随团参观了新加坡 UniHearts 国际幼儿园，了解了他们如何融入中国市场、也学习其经营方法与成功经验。与青岛市教育局官员交流后，沈可凌对当地的教育政策及相关发展方向更加了

沈可凌（左）在青岛参观当地的幼儿园设施。

解，对进入青岛经营教育相关行业所需具备的投资条件和法规信息也更好地掌握。在考察期间，沈可凌有机会结交来自

小空间，低成本打造新式体操馆，并成功

不同领域的企业家，他们分享的经验促使

在加东拿下第三间体操学校，预计在今年

她重新思考其管理与经营模式。回国后，

中开幕。

她突破旧有的体操馆设计和概念，寻求以

此外，她还受邀参加在长沙举办的华蒙星第三届亚洲幼儿体育交流研讨会暨 2018中国幼儿园男教师论坛，与来自中国、韩国、日本等地的幼教体育老师和专

欲知最新的“海外市场工作坊”行程详情，可关注https://www.sccci.org.sg/zh/

esgomw-upcoming 或电邮 zekson@ sccci.org.sg 及拨电6430 8335。

家分享经验。随着对中国了解更深，沈可凌发现自己与中国人沟通比较如鱼得水，这是她参加考察团后的一大收获。两次考察不仅让她对中国经济的飞速发展感到惊叹，也加深了她对投资中国市场的信心。如今，她更有在中国开分校的打算。她说：“入户中国的想象一直都在我的脑海里盘旋。也一直希望能够以新加坡的团队走进中国。到中国考察让我结交了一群志同道合的队友，也很希望往后我们可以有联盟或是合作的机会，一起走进中国市场，互惠互利。”

华商 | C H I N E S E E N T R E P R E N E U R

C h i n a B e a t | 中华脉搏

CHINA-US RELATIONS

MANAGING A NEW ERA OF STRATEGIC RIVALRY 华商 | C H I N E S E E N T R E P R E N E U R

中华脉搏 | C h i n a B e a t

THOMAS DENG Regional Chief Investment Officer & Chief China Strategist UBS Global Wealth Management

ratcheted up the pressure by tightening foreign investment in 27 critical tech sectors

(including

semiconductors,

aircraft and biotech) and has introduced “poison pill” clauses in the new USMCA trade deal, implicitly targeting China. China has responded with retaliatory tariffs of 5–25% on USD 110bn worth of US goods, nearly 70% of total US imports. Despite the recent truce, a gradual decoupling of the two economies and supply chains splintering along regional lines seems the most likely outcome in the long run. A full-on cold war in trade or security still remains only a tail risk, in our view, given the economic ties and cultural inter-dependencies of the two countries.

hina-US relations are in uncharted waters and are likely to get more

complex and challenging in the years

HUNKERING DOWN TO ENSURE DOMESTIC STABILITY By

most

accounts,

Beijing

has

ahead. The base scenario we foresaw was

miscalculated the severity of the US trade

a long cycle of fight and talk over a broad

conflict as well as the effect deleveraging

range of economic and security issues.

would have on the private sector and local

The recent G20 meeting between Chinese

government

President Xi and U.S. President Trump

China has since reversed course and

and the pause in tariff escalation is a point

shifted to policy easing in late July, and

in case. Still, a comprehensive rollback

further measures – relating to state owned

of tariffs looks elusive at this stage. The

enterprise reforms, market access and tax

US currently maintains tariffs on a total

cuts – are likely to be announced over the

USD 250bn worth of Chinese imports, has

next few months.

华商 | C H I N E S E E N T R E P R E N E U R

infrastructure

spending.

C h i n a B e a t | 中华脉搏

National fund set up to guarantee

The road ahead for China policy

SME loans, extended MLF collateral

toolbox to ensure stability. Faced with

coverage for banks, and lower MPA

limited options, we expect the Chinese

parameters for banks.

Beijing

reach

into

government to hunker down and stabilize

CNY policy - Capital controls to

the domestic economy, keeping GDP

remain highly restrictive. China to combat

growth above 6% in 2019, via the following

speculative selling and avoid “weaponizing”

policy mix:

the CNY, but will likely allow gradual fall as

Monetary policy - The reserve

fundamentals weaken.

requirement ratio has been cut 250bps in

• USDCNY forecasts: 7.1 in 3 months,

2018 and another 100–200bps of cuts is

7.2 in 6 months and 7.3 in 12 months

likely in the next 6–12 months.

(as of 27 November 2018).

Fiscal policy - Deficit to widen from –2.9% in 2018e, to –3.3% in 2019e on: • Infrastructure spending, likely to grow >10% in 2019, from 2% in 2018. • Tax cuts worth c. CNY 1trn (1% of

Policies unlikely to be pursued unless China is pressed into a corner: • Massive 15% depreciation of the CNY in a 12-month period

GDP) have been announced, with

• Selling of US Treasuries

further cuts to property, inheritance

• Overtly punishing US corporations

and gift taxes reportedly in the

operating in China

pipeline. But the multiplier effect

Trade conflict a potential long-term

will likely be limited given the

positive. China’s sizable market is too big for

weak economic outlook.

investors to ignore. A positive outcome of US

Housing policy - Select cities have

pressures is that Beijing may accelerate the

eased mortgage rates for first-time buyers,

opening up of its domestic market to foreign

but broad-based easing is unlikely

investment. So far, commitments include:

Credit policy - Modest rebound in

Strategic partnerships with key allies,

broad credit growth (2018/19: 10.5%/11%)

especially Japan. Japanese PM Abe’s latest

expected due to:

visit to China in late October – the first in

• AMP rules relaxation to cushion

his 7-year tenure – marked a milestone in resetting the tumultuous relationship

drop in shadow lending; • Direct policy support for SMEs:

between the two.

华商 | C H I N E S E E N T R E P R E N E U R

中华脉搏 | C h i n a B e a t

They signed a broad range of deals,

in USDJPY falling from 240 to 120 in a

ranging from infrastructure, energy and car

two-year period. Looking back, many

projects to a USD 30bn currency swap pact.

Japanese economists now believe that the

Wider market access for foreign

concessions made by Japan spurred the

investors in manufacturing sectors,

hollowing out of its domestic industrial

including

autos,

base and the bubble economy of the late

majority

foreign

and

allowing

ownership

Chinese financial firms. Further lowering import tariffs on autos and certain consumer goods.

80s – which ultimately led to the infamous lost decades. From Beijing’s perspective, sharp currency appreciation, aggressive easing of monetary and fiscal policies, and the excessive tolerance of bad debts

LESSONS LEARNED FROM THE JAPAN-US TRADE WAR The Japan-US trade war of the 1980s–1990s bears key lessons for

are policy choices to avoid.

CONTEST TO PERSIST ON ALL FRONTS

Beijing. Then, as now, a rising Japan-

China-US relations have entered a new

US trade surplus led to a crescendo of

era of strategic rivalry, one that extends

complaints from the US about unfair

well beyond trade and investment to

industrial policy practices and the loss of

differences over the rules of the game,

manufacturing jobs. As tariffs mounted,

values and governance models. It’s also

Japan yielded by imposing voluntary

a contest over geopolitical influence and

restraints on exports and shifting its auto

technological supremacy. As the two

production base to the US. It also sought

countries move away from nearly three

to aggressively boost imports through

decades of greater economic engagement,

an ultra-loose monetary policy and fiscal

relations will likely get more fractious –

pump priming. And as Japan’s trade

although the possibility of a global trade

surplus continued to grow despite the

war remains low, in our view. We think a

measures, the US initiated a coordinated

cycle of fight and talk will persist, which

intervention in dollar sales via the

ultimately could reshape the current

Plaza Accord of 1985, which resulted

global geopolitical order.

华商 | C H I N E S E E N T R E P R E N E U R

C h i n a B e a t | 中华脉搏

Chinese suppliers or the need for specific skill requirements that cannot be easily replicated elsewhere. Corporations that shift production may also use this window of opportunity to

upgrade

their

facilities,

which

would prove to be a windfall for capex and

equipment

spending

globally.

So, depending on the location, the reconfiguration of trade could have longlasting positive and negative knock-on effects. On a sector level, overall, we think automation will be a universal winner of this supply chain reorganization.

Trade tensions: The implications for businesses Firms caught in the middle of the China-US trade dispute face two options: stay and pay the tariffs or move to avoid them. Companies with existing operations in third countries, such as Vietnam, Thailand or Malaysia, may opt to accelerate their pivot to these locations. But those without alternate production sites outside China could choose to wait for more clarity before deciding, especially if they face elevated fixed costs and other considerations like synergies with

华商 | C H I N E S E E N T R E P R E N E U R

中华脉搏 | C h i n a B e a t

EVALUATING THE DIRECT AND INDIRECT IMPACTS Direct impacts (on firms with products placed on US or Chinese tariff lists) When determining the impact on firms from tariffs, a number of factors must be considered such as: the goods in question, the tariff rate to be imposed, the availability and competitiveness of substitutes, the sensitivity of demand to a change in price, and for intermediate products, their position in the value chain and their geographic location. Hence, determining the overall effect is a difficult endeavor. In the near term, we think companies with greater pricing power are likely to be most defensive and expect them to delay their relocation decisions. In contrast, for cost sensitive firms with limited pricing power, we believe they will accelerate their relocation to low-cost countries in Southeast Asia (ASEAN) such as Vietnam, Thailand or Bangladesh. Here are some examples of corporate rationale on the subject: • A China-based robotics company with sizeable US exposure we spoke with has been accelerating shipments to the US in recent months - its products are

华商 | C H I N E S E E N T R E P R E N E U R

C h i n a B e a t | 中华脉搏

华商 | C H I N E S E E N T R E P R E N E U R

中华脉搏 | C h i n a B e a t

subject to a 10% US tariff and would face even higher tariffs if new talks between China and the US were to fail. At this stage, it’s planning to keep its operations in China because of the high costs and challenges in relocating. The company is closely watching the pricing of its major competitor, a Boston-headquartered firm with research and design done in the US but products made in China – together they control 80% of the US market. •

Conversely,

automotive

parts

China-based

manufacturer

interviewed said it was scoping out opportunities to expand manufacturing to Mexico as a way of reducing future traderelated risks. Increased

pressure

Chinese

exporters’ margins due to higher costs will be a key short-term direct impact of the tariffs. We estimate the tariffs could cut 25–30bps from Asian corporate margins in 2019. The longer-term effect will likely be increased capex from the need to shift manufacturing. Indirect impacts (from changing global trading patterns) In general, indirect impacts will be seen in macro factors like weaker economic growth, business confidence or capex. For example, Bloomberg Intelligence predicts a 3–4% slowdown in

华商 | C H I N E S E E N T R E P R E N E U R

C h i n a B e a t | 中华脉搏

华商 | C H I N E S E E N T R E P R E N E U R

中华脉搏 | C h i n a B e a t

global container demand growth during

benefit from Beijing’s ramp up of high-

the next few quarters due to rising trade

tech, basic and applied research in order

uncertainty. A broad-based slowdown

to move up the global value chain and to

in capex is possible in the short term,

improve its technological independence.

and this would have knock-on effects to

Despite these recent challenges, we believe

activity and consumption in certain parts

China will eventually achieve greater self-

of Asia – but it would lift firms’ cash flow

sufficiency in key industries with best-in-

in the short term. All is not bad, however,

class technology. Also, we believe Chinese

as we see a number of opportunities for

firms will likely continue to diversify and

select companies and sectors in the short

invest in growth industries regionally in

to medium term:

ASEAN and India.

• Two logistics firms told us that these tariffs could boost their intra-Asia trade further, particularly ASEAN-China trade. • Other examples include Chinese car retailers increasing their imports of Japanese-made luxury models because of Chinese tariffs on US imports, and Australian beef and South American soybean producers benefitting from increased Chinese demand due to tariffs on US agricultural products. • The defense sector should be a clear beneficiary from any rise in regional geopolitical tensions. China likely to double-down on investment plans Automation is the clear winner as new factories regionally move up the valueadded ladder, which should be a boon for low-tech Chinese automation players.

This material has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient and is published solely for information purposes. No representation or warranty, either express or implied is provided in relation to the accuracy, completeness or reliability of the information contained herein, nor is it intended to be a complete statement or summary of the developments referred to in this material. This material does not constitute an offer to sell or a solicitation to offer to buy or sell any securities or investment instruments, to effect any transactions or to conclude any legal act of any kind whatsoever. Nothing herein shall limit or restrict the particular terms of any specific offering. No offer of any interest in any product will be made in any jurisdiction in which the offer, solicitation or sale is not permitted, or to any person to whom it is unlawful to make such offer, solicitation or sale. Not all products and services are available to citizens or residents of all countries. Any opinions expressed in this material are subject to change without notice and may differ or be contrary to opinions expressed by other business areas or divisions of UBS AG or its affiliates (“UBS”) as a result of using different assumptions and criteria. UBS is under no obligation to update or keep current the information contained herein. Any charts and scenarios are for illustrative purposes only. Historical performance is no guarantee for and is not an indication of future performance. Neither UBS AG nor any of its affiliates, directors, employees or agents accepts any liability for any loss or damage arising out of the use of all or any part of this material. UBS specifically prohibits the redistribution or reproduction of this material in whole or in part without the prior written permission of UBS, and UBS accepts no liability whatsoever for the actions of third parties in this respect. All pictures or images (“images”) herein are for illustrative, informative or documentary purposes only, in support of subject analysis and research. Images may depict objects or elements which are protected by third party copyright, trademarks and other intellectual property rights. Unless expressly stated, no relationship, association, sponsorship or endorsement is suggested or implied between UBS and these third parties. © UBS 2019. The key symbol and UBS are among the registered and unregistered trademarks of UBS. All rights reserved.

Select Chinese companies could also

华商 | C H I N E S E E N T R E P R E N E U R

Untitled-1 1

20/2/19 11:13 AM

商团动态 | I n d u s t r y D y n a m i c s

DEFINING THE CHARACTER OF SINGAPOREAN FURNITURE: INTERVIEW WITH MARK YONG, PRESIDENT OF SINGAPORE FURNITURE INDUSTRIES COUNCIL Singapore’s furniture industry establishing its new strengths by fulfilling growing urban needs and developing aesthetic character through fusion of different countries’ design features.

华商 | C H I N E S E E N T R E P R E N E U R

I n d u s t r y D y n a m i c s | 商团动态

华商 | C H I N E S E E N T R E P R E N E U R

商团动态 | I n d u s t r y D y n a m i c s

HOW HAS THE FURNITURE INDUSTRY IN SINGAPORE HAS BEEN DOING? In general, Singapore players have been trying to find their own characters and competitive strengths, to build up their own brands. In the past 20 years, many furniture manufacturers have moved out of Singapore into the region due to rising costs. What remains are the high-value-adding processes such as design, innovation, and headquarter operation. Many in the past who were contractors or OEM manufacturers for overseas clients have developed their own brands in recent years. In the past few years, the industry also saw a lot of impact from digitalisation. Previously people used to buy smaller goods from Internet, but now they are willing to spend money on bigger items including furniture, even expensive

WHERE DO YOU SEE THE INDUSTRY HEADING, IN TERMS OF INDUSTRY DEVELOPMENT AND DESIGN TRENDS?

ones. People are now more used to e-commerce, and there are virtual

We are categorised under retail industry

communities which could help them to

in government’s Industry Transformation

decide what is good for them.

Map (ITM), but SFIC realised the need for our own industry roadmap and launched one this year. The reason is that furniture industry is not purely retail,

华商 | C H I N E S E E N T R E P R E N E U R

I n d u s t r y D y n a m i c s | 商团动态

but a hybrid of five clusters, including manufacturer,

contract

manufacturer,

supporting industries – such as materials supplier, designer, and retailers. Under this roadmap, we have identified some

WHAT ARE THE UNIQUE STRENGTHS THAT MAKE SINGAPORE FURNITURE STAND OUT IN THE MARKET?

important areas to bring our members, one of them is urbanite-centricity. Our years of development as a very small nation has been about dealing with space

We know the needs of urbanites, and the know-how is applicable to many other countries.

constraint, which also is what lots of cities

Italian furniture tends to be about

around the world are faced with. But what

use of materials and timeless aesthetics;

I think set us apart from others is that we

French is good in playing the classic

still live relatively comfortably through good

lines and the rich use of colours and

urban planning. Solutions that we developed

tapestries; German furniture is big,

throughout the years has unnoticeably

heavy and almost lasts forever. As

become very important content that we could

for Singaporean ones, they are small

propagate – we can bring such expertise to

enough to fit into homes, but make

other cities in the world.

also pragmatic use of materials and

For example, we do work with industry

increasingly

lasting

designs.

Our

experts who are dealing with an ageing

advantage is that Singaporean designers

population. An example of elderly-friendly

don’t have the baggage to follow

furniture is laminate that can heal itself

industry tradition of using certain kinds

and carries anti-bacteria function. Japan

of materials. For instance, Indonesians

is also facing same issue and has provided

tend to use rotan, Filipinos use weaving

their solutions, but their design still looks

techniques, and Italians are strong with

rather clinical. So, aesthetic is where

leather. In Singapore we are open to

we can contribute, to allow the elderly

using all sorts. Some of our designers

age to gracefully and with dignity. That

also try to inject humour into furniture

could be done by innovation and design,

to create a talking points. We are

as well as adopting special materials

expressing ourselves more confidently

and AI into furniture.

and creating our own signature pieces.

华商 | C H I N E S E E N T R E P R E N E U R

商团动态 | I n d u s t r y D y n a m i c s

HOW GOVERNMENT COULD DO BETTER TO SUPPORT THIS INDUSTRY? The government has always been very supportive of the industry, such as through funding supports via IE Singapore and SPRING (now Enterprise Singapore). Government support should also evolve with time. Government has

online anytime. You go there to experience how all the companies are doing. It is more about the soft power.

SINGAPLURAL, A PROJECT IN WHICH SFIC TOOK PART TO LAUNCH, HAS BEEN BRIDGING DESIGNERS AND DIFFERENT INDUSTRIES AND ACHIEVED GREAT RESULTS. WHAT’S YOUR TAKE ON THIS? ANY SUCCESS STORY OF FURNITURE PLAYER IN SINGAPLURAL?

always been supporting industries through conducting learning programmes, mission

With SingaPlural, we have brought

trips, investing in technologies to raise

together brands and manufacturers of all

productivity etc. But after building the

industries together with designers to do

substance of company, the government

transformation. We have got retailers, food

should also value the marketing part.

manufacturers and fashion brands coming

Doing exhibition is a rather outdated

on board – everyone who wants to transform

format and I think the whole idea of

through design, including big brands

communication should be reformed, as it is

like Airbnb and Uniqlo. One important

very important to be able to communicate

principle of SingaPlural is that one side

better than our competitors. I went to 20 to

of the equation must be Singaporean – it

30 trade fairs a year, and I see a very broad

can be either Singaporean designer with

spectrums of shows where many players are

Singaporean brand, or overseas designer

communicating better and better. Sometimes

with Singaporean brand, or overseas brand

we lack a touch of elegance and finesse, and

with Singaporean designer. When you bring

we need better curation before going out, so

together people of clashing backgrounds

that Singaporean brands can shine.

and different expertises, they create new

Another part that could be improved

means of communication, new markets, and

is the KPI-driven working model. It is no

so Singaporean brands are able to reach out

longer about how many people you meet or

to wider audience.

how much you could sell at a trade fair. In

This platform provides a relaxed

fact, companies going to trade fair today are

environment to tell your story, where a

not for getting orders – customers can order

company can meet many different architects,

华商 | C H I N E S E E N T R E P R E N E U R

I n d u s t r y D y n a m i c s | 商团动态

designers, specifiers and target groups that you couldn’t meet at a traditional platform like exhibition. A good success example this year (2018) is that: a furniture player Benel participated in SingaPlural and collaborated with 11H, a design house, and in line with this year’s theme “Play”, designed a range of modular furniture to facilitate play at the workplace, enabling offices to meet the changing dynamics of the work environment. The installation is named “Play at Work”, where a set of sofa with privacy panels, coffee tables and ottomans are arranged to show how the use of colours in furniture can help

Minister For Trade and Industry Chan Chun Sing launched SingaPlural 2017 with Mark Yong. It is a strong advocate for collaborations between brands and creatives, which encourages innovation through test-bedding of ideas.

transform the office into a playground where people can connect and have fun together. renewal and continuity of the industry.

AFTER TWO YEARS BEING THE PRESIDENT OF SFIC, WHAT HAVE YOU LEARNT AND COME TO ENVISION?

70% of our exco members are below 40 years old. We don’t operate with too much baggage and allow the young ones to voice out their opinions.

I think it is a time of much changes in terms of how the world is becoming more protectionist and many economies are going

WHAT IS YOUR ADVICE FOR THE INDUSTRY?

through highs and lows in very short cycles. Sometimes it is difficult to react if you are

Other than urbanite centricity, two other

not nimble, especially those that rely a lot

important pillars are these: look at Asia as

on investment and facilities. We are lucky

the main area of growth, where people are

that we have a strong secretariat team that is

getting rich and moving to cities; another area

well-structured and able to carry out industry

is agility – many of the rising countries are

initiatives in an organised manner.

nimbler and we need to make our members

For SFIC it is also important to involve

to be the same. Prototype fast, try fast, fail fast

younger 3G and 4G members for leadership

and redo again. This is the spirit and the pace.

华商 | C H I N E S E E N T R E P R E N E U R

商团动态 | I n d u s t r y D y n a m i c s

“新式”家具探索自身个性与强点纵览各国家具业，可说各有千秋：意

代，参与展销会的意义已经不在于售卖产

大利精于选材用料，设计品味隽永不朽；

品，更重要的是作为向国际市场宣传品牌

法国善于使用线条，颜色配搭丰富多彩；

理念的平台。

德国家具庞大厚重，坚固耐用。与这些国

最让Mark难掩兴奋的，就是谈到SFIC

家相比，新加坡家具行业有什么杀手锏，

近几年参与启动的SingaPlural设计展——

又如何崭露头角？

通过制造业界沟通机会，让设计灵感自由流

新加坡家具行业协会（SFIC）会长

动、相互启发。SingaPlural致力对接国内

Mark认为，新加坡家具业者不受固定的

外设计师和企业品牌，促进广泛的供需方交

行业传统和文化所定型，但并不因此而逊

流合作，最终从家具设计升级，覆盖所有设

色，却能更有活力和弹性去发挥设计。例

计业，许多本地企业和国际大企业如时装巨

如，新加坡的设计可以兼采各国所长，也

头Uniqlo都参与其中，汲取灵感。

可以将当代社会的话题或幽默笑点融入当中，呈现独到创意。就在国际家具巨头进军本土，使本地家具业面对激烈竞争的同时，不少本地设计师也越来越大胆和自信，勇于呈现自己。新加坡家具业可以高度发挥的另一个强项，在于对城市需求的深入认识。Mark 认为，新加坡的城市规划十分发达，家具的发展一向配合着城市人的最新需要，走在行业前沿。例如，世界许多大城市都和新加坡一样面对人口老化等挑战，在家具设计的安全上需要特殊解决方案。新加坡多年来发展的解决方案因此大有市场。当谈到政府对本地家具业的支持，Mark心存感激，同时建议政府在对行业的支持模式上继续求进步。他认为，政府除了资助业者参展，追求销售业绩外，也要放宽眼界，提升行业的沟通技巧，加强宣传新加坡品牌。特别是在这电商时

华商 | C H I N E S E E N T R E P R E N E U R

P a s s i n g t h e To r c h | 薪火相传

华商 | C H I N E S E E N T R E P R E N E U R

薪火相传 | P a s s i n g t h e To r c h

华商 | C H I N E S E E N T R E P R E N E U R

P a s s i n g t h e To r c h | 薪火相传

许

华商 | C H I N E S E E N T R E P R E N E U R

薪火相传 | P a s s i n g t h e To r c h

华商 | C H I N E S E E N T R E P R E N E U R

P a s s i n g t h e To r c h | 薪火相传

华商 | C H I N E S E E N T R E P R E N E U R

薪火相传 | P a s s i n g t h e To r c h

华商 | C H I N E S E E N T R E P R E N E U R

P a s s i n g t h e To r c h | 薪火相传

华商 | C H I N E S E E N T R E P R E N E U R

薪火相传 | P a s s i n g t h e To r c h

华商 | C H I N E S E E N T R E P R E N E U R

P a s s i n g t h e To r c h | 薪火相传

华商 | C H I N E S E E N T R E P R E N E U R

薪火相传 | P a s s i n g t h e To r c h

华商 | C H I N E S E E N T R E P R E N E U R

P a s s i n g t h e To r c h | 薪火相传

华商 | C H I N E S E E N T R E P R E N E U R

薪火相传 | P a s s i n g t h e To r c h

华商 | C H I N E S E E N T R E P R E N E U R

P a s s i n g t h e To r c h | 薪火相传

华商 | C H I N E S E E N T R E P R E N E U R

薪火相传 | P a s s i n g t h e To r c h

华商 | C H I N E S E E N T R E P R E N E U R

M o m e n t s | 商会时讯

2018·11·10

三大种族商会交流晚会 INTER-CHAMBER NETWORKING NIGHT 新加坡马来商会主办2018年三大种族商会交流晚会，与新加坡中华总商会、新加坡印度商会联谊。晚会主宾为贸工部长陈振声。

The Singapore Malay Chamber of Commerce and Industry hosted the Inter-Chamber Networking Night 2018 to promote ties with SCCCI and the Singapore Indian Chamber of Commerce. Minister for Trade and Industry Chan Chun Sing was the Guest of Honour of the event.

华商 | C H I N E S E E N T R E P R E N E U R

商会时讯 | M o m e n t s

华商 | C H I N E S E E N T R E P R E N E U R

M o m e n t s | 商会时讯

2018·11·13

中国国务院总理李克强欢迎晚宴 WELCOME BANQUET IN HONOUR OF CHINESE PREMIER LI KEQIANG 新加坡中华总商会与新加坡工商联合总会于滨海湾金沙会展中心 Roselle Simpor 宴会厅联办晚宴，代表本地工商界热烈欢迎访新的中国国务院总理李克强。总商会黄山忠会长、工商联合总会张松声会长、财政部长王瑞杰出席晚宴并致欢迎辞。近一千人出席活动。

As the representative organisations of Singapore business community, SCCCI and

Singapore

Business

Federation

(SBF) co-organised a welcome banquet in honour of Chinese Premier Li Keqiang at Roselle Simpor Ballroom, Sands Expo and Convention Centre, during his visit to Singapore. SCCCI President Roland Ng, SBF President Teo Siong Seng and Minister for Finance Heng Swee Keat attended the event and delivered their welcome speeches. About 1,000 guests attended the banquet.

华商 | C H I N E S E E N T R E P R E N E U R

商会时讯 | M o m e n t s

华商 | C H I N E S E E N T R E P R E N E U R

M o m e n t s | 商会时讯

晚宴贵宾合影留念。前排中为中国国务院总理李克强，左起为总商会总务委员会主席白毅柏、吴学光副会长、通商中国主席李奕贤、总商会会长黄山忠、财政部长王瑞杰，右起为新加坡工商联合总会董事Shamir Rahim、总商会何乃全副会长、国际事务委员会主席白连源、名誉会长郑民川、工商联合总会张松声会长。后排为两个商会的董事会代表：（左起）曾宪相、胡美霞、陈康威、洪月霞、白南泉、杨允仁、吴绍均、王腾忆、陈睦发、T Chandroo博士、张一容。

华商 | C H I N E S E E N T R E P R E N E U R

商会时讯 | M o m e n t s

“我们希望看到‘more investment from Singapore’！……我相信，真正要做大企业、做好企业的人，一定是长期的投资者。中国会不断地去扩大开放，不断深化改革，不断营造有利于长期投资的环境。” ——中国国务院总理李克强

华商 | C H I N E S E E N T R E P R E N E U R

欢迎新会员 W E LCO M E A B OA R D ( O c to b e r- J a n u a r y )

Member Company

Business Representative

Designation

Business Nature

ASSOCIATION OF INFORMATION SECURITY PROFESSIONALS

STEVEN WONG

President

AB ENZYMES GMBH

TRAN DINH KHUE

Director

AB WINE ACADEMY PTE LTD

SUNNY SUN

Director

Education

ACCTRUST ASSURANCE PAC

ANDREW SIM

Director

Professional, Business & Technical Services

AF GLOBAL LIMITED

CHAY YUE KAI

Chief Executive Officer

Tourism & Hotels

ALPHANOVA PTE LTD

DARYL OO

Sales Director

Information & Communications

ANG WEN JIE

Senior Financial Services Manager

ANR TECHNOLOGIES PTE LTD

ALICE PENG

Academic Affairs Director

ASCENT SOLUTIONS PTE LTD

LIM CHEE KEAN

Chief Executive Officer

Wholesale & Retail Trade

ASSETS ADVISORY PTE LTD

QUEK FU JIN

Director

Real Estate

ASSOCIATION OF CERTIFIED STRATEGIC AUDITORS

LIM BOON YEOW

Executive President

Professional, Business & Technical Services

AV-SCIENCE MARKETING PTE LTD

GAN BENG SENG

Managing Director

Information & Communications

BAY DEVELOPMENT SERVICES PTE LTD

HUANG YING

Sales Manager

Tourism & Hotels

BIPO SERVICE (SINGAPORE) PTE LTD

CAROL CHEN

General Manager

Professional, Business & Technical Services

CAPITOL HOTEL MANAGEMENT PTE LTD

VIC KHOR

Sales Director

Tourism & Hotels

CASA (S) PTE LTD

MARGARET CHAK

Group Financial Controller

Wholesale & Retail Trade

CDNETWORKS SINGAPORE PTE LTD

VINCENT WONG

Enterprise Director

CHAN SOOK FUN, KRISTY

KRISTY CHAN

Associate Director

CHARTER KECK CRAMER

PETER HUTCHINS

Managing Director

CHIU HUEY CHING

Director

CHOO PHAIK HWEE, ANGELINE

ANGELINE CHOO

Senior Director

CHUA YIXIANG

Senior Executive Financial Consultant

CITIBANK N.A. SINGAPORE BRANCH

JOEL KANG

Vice-President

Finance & Insurance

COASTAL METALS PTE LTD

RICHARD LIM

Director

Professional, Business & Technical Services

CREATIVE EATERIES PTE LTD

BERNADETTE WONG

Director

Tourism & Hotels

DELOUIS INTERNATIONAL PTE LTD

DESMOND TAN

Director

Finance & Insurance

D’FONT PTE LTD

MICHAL LIM

Director

Transport, Storage & Logistics

DIONE INTERNATIONAL PTE LTD

TOH YEAN SHOON

Managing Director

Manufacturing

DUAN ZHIYAO, SERENA

SERENA DUAN

Manager

EXQUISITE ENTERPRISE SOLUTIONS PTE LTD

CHRIS LEE

Director

FACT SOFTWARE INTERNATIONAL PTE LTD

MRS

ARVIND AGARWALLA

Chief Executive Officer

HIGHLIGHT MEDIA INTERNATIONAL PTE LTD

KENN LIM

Chief Operating Officer

Information & Communications

HL ASSURANCE PTE LTD

CALLIE BOH

Head, Human Resource & Administration

Finance & Insurance

HOL CONTENT CURATORS LLP

ANGELINE TONG

Officer

Information & Communications

HP PPS ASIA PACIFIC PTE LTD

EDDIE KOH

Trade Consultant

Information & Communications

HP PPS SINGAPORE (SALES) PTE LTD

EDDIE KOH

Trade Consultant

Information & Communications

HUANG SHUXIAN, BERNICE

BERNICE HUANG

Senior Financial Consultant

HUATONG HOLDINGS (SEA) PTE LTD

JAMES JIA

Assistant General Manager

Manufacturing

IPLAST 4.0 PTE LTD

POH LENG YEE

Director

Professional, Business & Technical Services

JIM JOSEPH WONG

JIM WONG

Partner

JING YUQIAO, THOMAS

THOMAS JING

Market Analyst

JOINTHIRE SINGAPORE PTE LTD

HIDETAKA YATA

Managing Director

Professional, Business & Technical Services

KANEZIN JAPAN SINGAPORE PTE LTD

HIRAOKA KAZUHIKO

Director

Manufacturing

KEI & WAH ENGINEERING PTE LTD

HUANG YONG

Director

Manufacturing

KLOSH PTE LTD

ALAN LEE

Director

Wholesale & Retail Trade

K-ONE INDUSTRIES PTE LTD

KONG MUN CHEW

Managing Director

Manufacturing

LEE TEONG KHOON

Consultant

LEONG LU YUAN

Associate Director

LIM BOON TIONG

LIMBOON TIONG

Associate

LIM ZHEN YANG

WILLIE LIM

Development Manager

LIU YINGYING, JESS

MRS

JESS LIU

Executive Director

LOYANG PRIME TRADING & SERVICES PTE LTD

ZHANG ZHENGUO

Chief Executive Director

华商 | C H I N E S E E N T R E P R E N E U R

Professional, Business & Technical Services

Information & Communications

Transport, Storage & Logistics

欢迎新会员 W E LCO M E A B OA R D ( O c to b e r- J a n u a r y )

Member Company

Business Representative

Designation

Business Nature

WONG KIT FOONG

Chief Executive Director

MANICURED PTE LTD

JENNY WEE

Director

MARKHELEN INVESTMENT CO LTD

YAN YUEXIN

Director

Professional, Business & Technical Services

MC CONSULTANT PTE LTD

MARWAN MAURIZIO CHEDID

Director

Professional, Business & Technical Services

MICHAEL G S GOH PROPERTY

MICHAEL GOH

Key Executive Officer

Real Estate

MILLENNIUM HOTELS & RESORTS

STEPHANIE XIE

Sales Director

Tourism & Hotels

MOWIN DIGITAL PTE LTD

IANTON TAN

Chief Executive Officer

Information & Communications

MTE PTE LTD

MARWAN BAYDAS

Director

NANJING DADI CONSTRUCTION (GROUP) CO LTD

YE MAOSHENG

Managing Director

NEO-FLIM MEDIA INVESTMENT PTE LTD

DOMINIC YIN

Chairman

NG CHIU LIN, JAS

JAS NG

Sales Director

ONE MARINE & OFFSHORE SERVICES PTE LTD

YU ZHENRONG

Managing Director

Transport, Storage & Logistics

OUR SHINE GOGLOBAL LIMITED

AZEEZA JALALUDEEN

Founder & Managing Director

Professional, Business & Technical Services

PEH WEE HOON, ROSALINE

ROSALINE PEH

Accountant

PERFAB ENGINEERING PTE LTD

ALEX CHAN

Managing Director

Manufacturing

QINGDAO BAORUNDA ENGINEERING SUPPORT

LI WEI

Director

Construction

REXADVANCE TECHNOLOGY PTE LTD

MDM

JESSIE CHEN

Director

Manufacturing

RICH DATA CORPORATION SOLUTIONS PTE LTD

MDM

LEONG LAI MEI

Director

Professional, Business & Technical Services

RSGK SINGAPORE PTE LTD

CHUA WEE LEE

Managing Director

Education

SAPPHIRE CORPORATION LIMITED

WANG HENG

Chief Executive Officer

Construction

SASSEUR ASSET MANAGEMENT PTE LTD

CHEN ZHEN

Head of Investment

Real Estate

SEEDIN TECHNOLOGY PTE LTD

POH BOON HUA

Shareholder

SERAYA ENGERGY PTE LTD

LOW BOON TONG

Executive Vice-President

SEVENTY2 PTE LTD

MDM

WANG QIFEN

Director

Professional, Business & Technical Services

SILVERCLOUD ENERGY PTE LTD

GUO SHUAI

Shareholder

Professional, Business & Technical Services

SIM SENG HIN SAWMILL CO PTE LTD

JILL LIM

Managing Director

Manufacturing

SIM SOON HENG COOKING INGREDIENTS PTE LTD

WINLIN NG

Manager

Manufacturing

SIN CHEW WOODPAQ PTE LTD

GOH PENG HONG

Managing Director

Transport, Storage & Logistics

SINC GROUP PTE LTD

MARCUS ANG

Director

Real Estate

SINGA PETS PTE LTD

JEAN YANG

Director

Manufacturing

STARCOAT PTE LTD

NG CHONG LIN

Director

Manufacturing

THE HARLEY STREET HEART CENTRE

TEO CHUNG PIN

Chief Operating Officer

Education

TIDY MAINTENANCE & ENGINEERING PTE LTD

VINCENT WANG

Manager

Transport, Storage & Logistics

TONG KOK SIONG

Building Manager

TRADEIT.COM PTE LTD

DARREN HUANG

Director

TROVE16 CUBE

CALEB YAP

Founder

TWO I I SOLUTIONS PTE LTD

NG BEE CHUAN

Director

ULTIMATE COMPONENT PTE LTD

ALEX CHAN

Managing Director

Wholesale & Retail Trade

UNICORN HOME PTE LTD

HOU LIANG

Managing Director

Wholesale & Retail Trade

UNITED MEDICAL PTE LTD

WU DESHUN

Senior Managing Director

Education

VORTEX ENGINEERING PTE LTD

MARCUS CHANG

Director

Construction

WAN YI GLOBLE PTE LTD

CAO WANYI

Director

Real Estate 房地产

WAREES HALAL LIMITED

DEWI HARTATY SURATTY

Chief Executive Officer

WATERBROOKS CONSULTANTS PTE LTD

WAYNE KOO

Managing Director

WIN.WIN DIGITAL SECURITY PTE LTD

MOEY KIT MING

Operations Manager

XERO (SINGAPORE) PTE LTD

TESSA KHOO

Marketing Director

LU INTERNATIONAL (SINGAPORE) FINANCIAL ASSET EXCHANGE PTE LTD

Construction

SINGAPORE BRANCH

EQUIPMENT COMPANY LIMITED (SINGAPORE BRANCH)

XIE XINHAO

XIE XINHAO YEO CHING LING, CIARA

CIARA YEO

Co-Founder

YU YUE, ABBY

MRS

ABBY YU

Financial Consultant

华商 | C H I N E S E E N T R E P R E N E U R

Professional, Business & Technical Services Professional, Business & Technical Services

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11/1/19

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