ISSUE 17
03 专访吴修撰 Interview with Sean Wu Xiuzhuan
CHI NESE E N TREPRENEU R
16 开创未来的领导力：战胜逆境 LEADERSHIP NEXT: Rising Above Adversity
Integrity as the Foundation, Creating New Opportunities Together This year marks the 100th birth anniversary of our founding Prime Minister Mr Lee Kuan Yew. While he is no longer with us, his legacy lives on. With “integrity” at the core of nation-building, Mr Lee has earned trust and confidence both at home and abroad, paving the way for Singapore’s rapid economic growth. In the face of economic slowdown and geopolitical tensions, there should be greater emphasis on “trust”: Refreshing our social compact, promoting social vitality and unity; strengthening international cooperation and mutual trust, especially leveraging on Singapore’s good international reputation and influence as a hub in ASEAN to uphold the open, collaborative and rules-based international order! Therefore, I am heartened that the Forward Singapore report released recently articulates our collective vision for Singapore as the Government implements policy changes with the people’s welfare in mind. SCCCI also spearheaded and organised the joint community initiative “Grateful for the Present, Nurturing the Future” with Singapore’s various racial groups. Besides supporting education, this initiative also reflects the mutual support, unity and shared consensus among Singaporeans. As a hub to help companies to internationalise, SCCCI organised business missions to countries including China, Malaysia and Vietnam to explore investment opportunities. At the 16th World Chinese Entrepreneurs Convention held in Bangkok, Thailand, I urged Chinese entrepreneurs worldwide to uphold the spirit of “Harmony in Diversity” and demonstrate loyalty to their country of residence for global harmony and prosperity. The business community’s highest tribute to Mr Lee Kuan Yew is to pass down his timeless values – integrity, unity, innovation, giving back, education and resilience. This is also the driving force that enables Singaporeans to emerge stronger and create new opportunities together!
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EMPOWERING TECH INTEGRATION AND LEADERSHIP DYNAMICS “Deploying tech or acquiring tech tools might seem straightforward, but the real challenge lies in getting employees to utilise these new technologies,” according to Fung Fung. She articulated that the crux of this challenge involves training individuals and facilitating their transition to the new tech landscape. This process entails upskilling employees in emerging areas such as Environmental, Social, and Governance (ESG). KPMG’s recognition of the importance of ongoing education is evident through their notable move in investing S$30-million-dollar fund dedicated to lifelong learning programme to enhance ESG knowledge, as well as data and digital literacy, which was announced last year. At KPMG, senior employees are encouraged to share their triumphs in mastering new technologies. In this way, they can inspire
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their colleagues to embrace learning with greater openness. As an example, Fung Fung’s manager had embarked on a journey to acquire a new technological skill and shared her personal experiences within her department. Her manager instilled the powerful idea of “If she can do it, so can we.” This set a precedent that inspires her other colleagues to follow her lead. In response to essential leadership qualities, Fung Fung shared that her perspective aligns with Kho Choon Keng, the President of the Singapore Chinese Chamber of Commerce & Industry, who had emphasised in his SMEICC Welcome Address that a great leader is also a humble learner that always associates himself with people better than him. This is crucial in achieving enduring success in today’s dynamic business landscape. Navigating the rapid evolution of the business environment today requires perpetual learning, reskilling, and upskilling, making them fundamental necessities. In addition, business leaders must challenge conventions, seek for ways to explore new approaches and secure sustained relevance.
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“Envision a future where more women can persevere and not take themselves away from their professional roles even after motherhood.” MS MICHELLE CHEO
Deputy Chairperson and CEO Mewah Group
BALANCING AMBITIONS AND MANAGING RESPONSIBILITIES “Dare to dream. A misconception about women is that we do not dream enough,” states Michelle. She passionately instils in her colleagues the importance of balancing responsibilities, such as nurturing both career ambitions and family commitments. She envisions a future where more women can persevere and not take themselves away from their professional roles even after motherhood, regardless of whether it means switching to part-time or navigating unconventional schedules. At Mewah, they embrace flexibility - in some instances, they allow employees to commence work later, or switch to part-time roles. This approach is a harmonious arrangement which may benefit both employees and the company. Michelle shared that there are moments
when the word “no” becomes a reflex for her, acting like a shield against venturing beyond her comfort zone. “Often, we are too quick to judge ourselves before the external opinions,” acknowledges Michelle. Amid those moments, her peer had countered with the firm directive, “No, Michelle, grab it.” This beacon of encouragement reminded her to have more confidence to take on more responsibilities. “Nothing positive comes from a negative mindset.” This quote is one that drives Michelle towards exploration, a path of lifelong learning and helps her to stay attuned to the ever-evolving trends of agri-tech and food tech. Her goal is to cultivate Mewah into an organisation which is in pursuit of knowledge. She is embracing generative AI as an integral facet of her personal development. She encourages business leaders to allocate about 20 per cent of their time to continuous learning, enhancing their own capabilities and stay ahead of the curve. “As leaders, we have to keep learning, then we can steer our team in the right directions.”
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“I believe that making a change can yield a better outcome, but only when we welcome it.”
MS VOO CHOON LING
Group Managing Director Woodlands Transport Holdings Pte Ltd
CATALYSTS OF TRANSFORMATION: PEOPLE AND TECHNOLOGY Next year marks the momentous 50th Anniversary of Woodlands Transport. As they approach this occasion, Choon Ling expressed her commitment to propel the business forward. “I want to preserve what we have now and to do more.” She astutely identifies the elements of “people” and “technology” as the lifeblood of SMEs. “It can be daunting for SMEs to make the decision for a change. You are not alone in this,” says Choon Ling. She emphasised that the journey towards transformation is a shared one. There are initiatives and assistance rendered by consultants and IT companies to streamline processes, but they are convicted that more can be done. Her team’s determination led to them launching their bus services platform, named “Plotigo”, which stands for “You plot, I go”. Initially, it was met with reservations regarding
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its success prospects. But with unwavering resolve, Choon Ling led the formation of an in-house tech team and implemented the techdriven solutions, fortifying their business’s resilience and adaptability in the local market. On Choon Ling’s view towards success, she hopes to earn her children’s admiration and respect for her dedication to both her family and the company, illuminating a path for her children, just like how her father has imparted invaluable wisdom to her. Guided by her Father’s ethos, she aims to not only inspire her children but also uphold the bedrock values that are integral to the company. Choon Ling shared on the ideals that resonate within her, the one she clings to with heartfelt reverence - the four C’s: choice, chance, change, and Choon Ling. This is like a mantra with the meaning of “making the Choice to take the Chance to Change,” with the final “C” representing her own name, serving as a reminder to prioritise self-care as she journeys through the tapestry of life. “I believe that making a change can yield a better outcome, but only when we welcome it.”
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CHINA INTERNATIONAL IMPORT EXPO: A GOOD START AMID CHALLENGES AND CRITICISM
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China Beat
中华脉搏
The annual China International Import Expo (CIIE) is back this year as a fully in-person event after three years of the pandemic. However, while the authorities say that the results are looking good, participants may not be saying the same thing. Despite positive attendance numbers, is the CIIE truly effective at expanding global business activities and promoting market openness in China?
CHEN JING Shanghai Correspondent, Lianhe Zaobao
Translated by James Loo, Grace Chong
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People walk at the venue of the China International Import Expo (CIIE) in Shanghai, China, 6 November 2023. (Casey Hall/Reuters)
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n the first day of the China International Import Expo (CIIE), I asked a Singaporean merchant who was in China for the first time what the biggest challenge was attending this year’s expo. He paused to think before answering: “It was all pretty smooth… the only thing was the traffic restrictions today; I had to walk a long way before getting in.” When posed with the same question, a business representative who attended last year’s event gave a harrowing answer: the staff of the quarantine hotel in Shanghai where they were staying contracted Covid-19, and all their company representatives were forced to undergo a second round of quarantine, and almost could not make it to last year’s expo. Not just exhibitors coming in from abroad, even I myself, based in Shanghai, almost did not
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make it to the event last year because of strict pandemic restrictions. Back then, the pandemic was raging in all parts of China, and those who had been to highrisk areas during the past ten days were barred from attending the expo. To enter, everyone had to carry proof of a negative nucleic acid test result done in the last 24 hours and had to wear an N95 mask throughout. One year on, such measures are no longer a thing, and international flights have gradually resumed. After three muted years, I finally felt the atmosphere of a large-scale international exhibition: the exhibition hall was bustling, and the activities zone was filled with people, with the booths no longer run only by hastily hired Chinese staff, but by business people of various ethnicities from all over the world, speaking different languages.
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China Beat
Even the US and Australia, which have had tense relations with China, have been extraordinarily supportive of this year’s expo.
中华脉搏
Australia’s Prime Minister Anthony Albanese speaks during the opening ceremony of the 6th China International Import Expo (CIIE) in Shanghai on 5 November 2023. (Hector Retamal/AFP)
SUPPORT FROM US AND AUSTRALIA This year, more than 3,400 businesses set up booths at the expo with 394,000 professionals registered as participants; the Chinese authorities claimed that the number of exhibitors and professional participants who registered have rebounded back to prepandemic levels. Even the US and Australia, which have had tense relations with China, have been extraordinarily supportive of this year’s expo. The US sent the largest and most high-level trade mission to attend the expo, spanning industries such as agriculture, semiconductors and medical equipment. Australia had more than 250 businesses setting up booths,
while Prime Minister Anthony Albanese even attended the opening ceremony, becoming the second Western leader of a major country to speak at the CIIE following France’s President Emmanuel Macron in 2019. After three years, the expo has gone back to a fully in-person event; but has it truly returned to its pre-pandemic glory days, as the authorities say? At the opening ceremony for this year’s event, Chinese Premier Li Qiang said the previous five iterations garnered a total intended turnover of nearly US$350 billion. According to official statistics, other than in 2021, total intended turnover has continually risen in the other three years. However, this sentiment is at odds with the perception of some of the exhibitors.
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This year, it is particularly forceful in its criticism, denouncing the expo for straying from its original intent of promoting business activities, and for being “more of a political showcase rather than a business event”.
A POLITICAL SHOWCASE WITH LITTLE RESULTS? A survey done by the European Union Chamber of Commerce in China last month showed that of the businesses that participated in the event last year, only 24% closed deals, a sharp decline from the 50% in 2018. Exhibitors interviewed said that while government trade missions are among the expo’s biggest highlights, their symbolic significance is far greater than the actual results they bring. In the past few years during the CIIE, the chamber has repeatedly urged China to make good on its promise to open up. This year, it is particularly forceful in its criticism, denouncing the expo for straying from its original intent of promoting business activities, and for being “more of a political showcase rather than a business event”.
People visit the China stand during the 6th China International Import Expo (CIIE) in Shanghai on 5 November 2023. (Hector Retamal/AFP)
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China Beat
First held in 2018 when the China-US trade war broke out, the CIIE aims to showcase China’s determination to promote market openness and counter US unilateralism. In his opening speech this year, Chinese Premier Li Qiang again vowed to further expand opening up and cooperation by expanding imports, easing market access, and protecting foreign investors’ rights and interests. However, the dramatic changes inside and outside China since the pandemic have made it more difficult to fulfil these commitments. The past three years of anti-Covid measures and regulatory crackdowns have dealt a big blow to China’s private sector, and China’s economic growth in 2022 faces the quandary of
中华脉搏
missing the mark for the first time in many years. Despite market predictions that China will achieve its 2023 growth target of around 5%, the world’s second largest economy still faces many uncertainties, even in the last two months of the year.
Amid the property slump, low confidence and soaring local government debts, can the Chinese market still display its ability to “buy the world”?
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中华脉搏
China Beat
A GOOD START AMID CHALLENGES Customs data released this week showed that exports fell for a sixth straight month and recorded a bigger slump than expected in October. Although imports finally rose in October, ending seven consecutive months of decline, China’s consumer price index fell again, indicating weakness in domestic demand. Amid the property slump, low confidence and soaring local government debts, can the Chinese market still display its ability to “buy the world”? Also, with rising geopolitical tensions, especially the intensifying China-US rivalry, China’s decision makers are placing greater emphasis on national security. At the same time, foreign firms in China are on tenterhooks amid tightening data controls, revisions made to the anti-espionage legislation and the raids on several foreign companies. On the eve of the CIIE’s opening, it was revealed that US fund giant Vanguard Group and consulting firm Gallup will be withdrawing from China due to the country’s weak economic outlook and increased regulatory scrutiny of foreign firms. Cloud Software Group, the parent company of cloud computing enterprise Citrix, also announced this week that it would stop all new commercial transactions in China, becoming the latest American tech enterprise to withdraw from the Chinese market. As China’s growth drivers gradually shift from exports and investments to consumption, expanding domestic demand via the CIIE should be a win-win situation for foreign companies and the Chinese market. However, the economic and policy uncertainties of
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People visit the China stand during the 6th China International Import Expo (CIIE) in Shanghai, China, on 5 November 2023. (Hector Retamal/AFP)
this massive market, like its size, cannot be ignored. Doubts and criticisms of the CIIE reflect the challenges facing the future development of the Chinese market. It is difficult for either the CIIE or the Chinese market to return to the way they were before the pandemic. But after three years, the fact that more foreign merchants are able to freely enter this national-level expo is at least a good start. The next step is to see how China can strike a balance between economic and political considerations in the new postpandemic situation to ensure that the door to market openness can really be opened “wider and wider”.
www.thinkchina.sg This article was first published in ThinkChina on 10 Nov 2023. ThinkChina is an English language e-magazine by Lianhe Zaobao. SCCCI collaborates with ThinkChina to cross-share content.
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W E L C O M E A B OA R D ( J u ly ’ 2 3 - S e p t e m b e r ’ 2 3 ) Member Company 7 PILLARS MANAGEMENT PTE LTD ABARA PTE LTD ACE TOURS & TRAVEL PTE LTD ACTXA WELLNESS PTE LTD AIKYU TRADING CO (PTE) LTD ALTRADE MARKETING PTE LTD ARTIFICIAL INTELLIGENCE PTE LTD ATTRIBUTE DATA PTE LTD BANK OF SUZHOU CO LTD BILINGUAL INTERNATIONAL EDUCATION PTE LTD BRIGHTRAVEN PTE LTD CATHAY UNITED BANK CELINE KLEINSTEUBER CHEN DANNING LINDA CHEW LI SIEN CHIA WONG CHAMBERS LLC CHINA MERCHANTS ENERGY SHIPPING (SINGAPORE) HOLDING PTE LTD CHONG JUN JIE CHU CHUN CMOXI PTE LTD COMPAGNIE FRANCAISE D’ASSURANCE POUR LE COMMERCE EXTERIEUR (COFACE) CONCENTRIX SREV SINGAPORE PTE LTD CONTROL LOGIC SYSTEMS PTE LTD DEREN MARKETING PTE LTD DYSON ENTERPRISE PTE LTD EEO (SINGAPORE) PTE LTD FALCON SAFE (SINGAPORE) PTE LTD GLORIOUS GLOBAL TRADING PTE LTD H3 GEOSPATIAL TECHNOLOGIES PTE LTD HEC ELECTRICAL & CONSTRUCTION PTE LTD HELEN WIDJAJA HENATENN HOLDINGS PTE LTD HIAP HENG HEAVYEQUIPMENT CO PTE LTD HOCK SENG HENG TPT & TRADING PTE LTD INCISIVE LAW LLC INNOARK PTE LTD INTERCONTINENTAL SINGAPORE JDR PROPERTY NETWORK PTE LTD KANLIAN FERRY PTE LTD KHOA WEILONG GEOFFREY LA PARFUMERIE PTE LTD LNYCO INTERNATIONAL PTE LTD LOVEJOY CONSULTANCY SERVICES PTE LTD LOW YONG HOE VINCENT MICRO AIRE-CARE PTE LTD MII FOODSERVICE PTE LTD MOH YAN CHUNG DANIEL MOON AERO (SG) PTE LTD MORPHOS INTERNATIONAL PTE LTD NANYANG SAUCE FACTORY PTE LTD NEO JIA JUN NEW STRAITS CONSULTING (SG) PTE LTD OF SKIN CREATIONS PTE LTD ONG LE YU ONG WEI SOON WILSON ONG YI REN SPRINGSFIELD ORIENTAL TRAVEL AND TOURS PTE LTD R & D PHARMACEUTICAL PTE LTD REDHILL COMMUNICATIONS PTE LTD SANZ PTE LTD SEETOH KUM LOON SENG HUP TECHNOLOGY PTE LTD SIM WEE TECK SINGAPORE INTERNATIONAL PERSONNEL EXCHANGE CENTER SOON WEI SIAN SYNERGY 4 TECH PTE LTD TAGORE BUSINESS ASSOCIATION TAN CHAY MUI TAN CHER WEE HUGO TAN YAN LIANG TAY WEI SHENG AARON GRAHAM TEO SIANG YANG THE LAW SOCIETY OF SINGAPORE TOH LIEN CHEY TOWER TRANSIT SINGAPORE PTE LTD WEE BOON HONG DON WEE HUR HOLDINGS LTD WEEBO PTE LTD WEI QIONG AMY WL ENTERTAINMENT WONG MEI HOONG YANG HAW HENRY YEO HUI HOON MAGDALINE YOLO TECHNOLOGY PTE LTD ZENITH FACILITY SERVICES PTE LTD ZHOU WEI ZOE
Business Representative MR MS MR MR MDM MDM MR MDM MS MDM MR MR MS MS MS MR MR MR MR MR MS MR MR MR MR MR MR MDM MR MR MS MR MDM MR MR MR MDM MS MS DR MR MR MS MR MR MR MR MR MR MR MR MR MS MS MR MR MR MR MS MS MR MR MR MS MS MR MR MDM MR MR MR MR MR MDM MR MR MR MR MS MR MS MR MS MR MS MS
KESLEY LIM YANG YAN TAY CHUNG HONG EDWARD ALEX LOH KWEK SHI YUN FAITH FOO OI LING IRENE LIM RUI BING TEO POH GUAT JOANNA WANG LIYAN ESTHER JIANG BERTRAND LEE WONG WAI KWUN WINFIELD CELINE KLEINSTEUBER CHEN DANNING LINDA CHEW LI SIEN CHIA BOON TECK LI JUN CHONG JUN JIE CHU CHUN YIN XIAO CHEN KEWADA GRISHMA DOMINIC HUANG RUILIANG SEOW WAI MIN DAVID LOU PENG CHAN WEI MING JASPER LIM WEE KIAT EDMUND DARREN KHEW DAI LIN NEO JOHN JI HONG WEI KIAT JARRYL HELEN WIDJAJA LIN HANG FOO HUI CHIN JOYCE TAN MING YAO LOH WAI YUE CHONG VON KEE KOH CHOO ALI JUDY CHEW FONG HENG SHIRELY ONG TAMMY KHOA WEILONG GEOFFREY JASON LEE YAU JERRYL ONG TEE YUH SERENE LOW YONG HOE VINCENT TAN KIANG LENG AMOS CHONG JWO SHIN WILLIAM MOH YAN CHUNG DANIEL CAO ZHONGWEN CALVIN CHIN ZHI GUANG LOUIS KOH PEI WENG KEN NEO JIA JUN XIA MING SIM SHARON ONG LE YU ONG WEI SOON WILSON ONG YI REN SPRINGSFIELD FOO MIN SAN STANLEY CHEONG WENG SING RAYMOND NATALIE CHUA HO SHOO CHING PENNY SEETOH KUM LOON CHEW WEI HAUH SIM WEE TECK HE QIAN SOON WEI SIAN TAN NGAN MENG KENNETH SEAH SING HAI TAN CHAY MUI TAN CHER WEE HUGO TAN YAN LIANG TAY WEI SHENG AARON GRAHAM TEO SIANG YANG SHAWN TOH TOH LIEN CHEY WINSTON TOH DON WEE GOH WEE SHIAN WANG LIHUI HUBERT WEI QIONG AMY TIONG WEI LI WILLY WONG MEI HOONG HENRY YANG YEO HUI HOON MAGDALINE MUN KAR SOON DERRICK LAW SHU HUI STEPHANIE ZHOU WEI ZOE
Designation Director Director Managing Director Chief Executive Officer and Co-Founder General Manager Director Co-founder Managing Director Chief Representative Founder & Director Managing Director CEO Real Estate Agent CEO Senior Manager Co-Managing Director Director Executive Director Associate Chairman Country Head Senior Director Director Director Director Vice-President Sales Director CEO Founder Director Port Business Development Director Director Business Development Manager Joint Managing Director Director Director of Sales & Marketing Director / KEO Director Director Founder & Chief Executive Officer Director Director Founder CEO Director Business Development Manager CEO CEO Director Senior Cloud Engineer Partner Business Development Director Senior Vice-President Senior Manager, Finance Associate CEO General Manager Managing Director Business Development Executive Partner Director Managing Director Deputy General Director Accounts Executive Director Others Admin Clerk Director Vice-President Principal Consultant Director Others Partner Managing Director Member of Parliament General Manager Managing Director Associate Marketing Director CEO/Executive Chairman Marketing Executive Director Senior Associate Sales Manager Managing Director Director
华商 | C H I N E S E E N T R E P R E N E U R
Business Nature Professional, Business & Technical Services Wholesale & Retail Trade Tourism & Hotels Others Wholesale & Retail Trade Wholesale & Retail Trade Information & Communications Information & Communications Finance & Insurance Education Professional, Business & Technical Services Finance & Insurance Real Estate Not Applicable Not Applicable Professional, Business & Technical Services Professional, Business & Technical Services Not Applicable Not Applicable Wholesale & Retail Trade Finance & Insurance Professional, Business & Technical Services Professional, Business & Technical Services Information & Communications Food & Beverage Services Information & Communications Manufacturing Wholesale & Retail Trade Wholesale & Retail Trade Construction Not Applicable Wholesale & Retail Trade Transport, Storage & Logistics Transport, Storage & Logistics Professional, Business & Technical Services Information & Communications Tourism & Hotels Real Estate Transport, Storage & Logistics Not Applicable Wholesale & Retail Trade Wholesale & Retail Trade Food & Beverage Services Not Applicable Construction Food & Beverage Services Not Applicable Transport, Storage & Logistics Business & Technical services Manufacturing Information & Communications Professional, Business & Technical Services Wholesale & Retail Trade Not Applicable Not Applicable Not Applicable Tourism & Hotels Manufacturing Information & Communications Wholesale & Retail Trade Professional, Business & Technical Services Manufacturing Not Applicable Education Not Applicable Professional, Business & Technical Services Others Not Applicable Not Applicable Not Applicable Professional, Business & Technical Services Education Others Not Applicable Transport, Storage & Logistics Not Applicable Real Estate Information & Communications Not Applicable Others Not Applicable Not Applicable Not Applicable Professional, Business & Technical Services Others Not Applicable