SFIC AR 2006 bleed - Singapore Furniture · SFIC AR 2006 bleed 9/12/06 2:46 PM Page 23 ... and...

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A TOAST TO OUR PERFORMANCE

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Singapore Furniture Industries Council Annual Report 2006

inYearReviewThe

supported by SPRINGSingapore and IE Singapore,aims to implement a $16million plan over the nextthree years to help the localfurniture industry sustainits strategic advantageand enhance its competitiveedge in the internationalmarketplace.

The approved initiativesunder the Singapore furnitureindustry’s LEAD Programmewill focus on three key areas– nurture a high value-addedworkforce, develop moredesign-centric companiesand create a synergisedindustry network to capturea bigger global market share.

The strategic thrusts are:• Grow and expand

business globally• Raise design standards• Establish a Furniture

Learning Institute• Establish an International

Furniture Centre• Develop immediate

measures to helpindustry players

• Develop and maintain industry growth profile

In addition, the SFICembarked on the LocalEnterprise and AssociationDevelopment (LEAD)Programme in March 2006.The programme, which is amulti-agency initiative

The past year was markedby many achievements.The Singapore FurnitureIndustries Council (SFIC)played a key role helpingfurniture industry playersleverage emergingopportunities and growtheir businesses.

To ensure that the industryrides the wave of growthswiftly, the SFIC hasremained steadfast inimplementing the initiativesthat come under the sixmajor thrusts of the FurnitureIndustry CapabilityUpgrading Programme(Furniture ICAP) launchedin 2003.


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THE YEAR IN REVIEW

International FurnitureFair Singapore2006/23rd ASEANFurniture Show(IFFS/AFS 2006)IFFS/AFS 2006, which tookplace from 1-5 March,once again proved to bean excellent businessconduit for the internationalfurniture trade fraternity inAsia, boasting a record17,838 trade visitors and505 exhibitors from 113 and29 countries respectively.

Spanning over six halls atthe Singapore Expo, on-the-spot orders generated byexhibitors reached a recordhigh of US$240 million whilethe follow-on sales wasestimated at US$2.1 billion.The event also garnered anestimated US$32 million

THRUST 1GROW AND EXPAND BUSINESSGLOBALLY

in economic spin-offs forSingapore, especially in thetourism and MICE (Meetings,Incentives, Conventions andExhibitions) sectors.

Consolidating its leadingstature as one of the world’s‘must-see’ furniture tradeshows, the InternationalFurniture Fair Singapore PteLtd (IFFS Pte Ltd) - asubsidiary of SFIC – will belaunching the World ofWoodworking Machinery(WOWMAC) in conjunctionwith IFFS/AFS 2007. Thenew show component willshowcase the latest furnituremanufacturing technology,machinery components,supplies and services.Together with WOWMAC,the IFFS/AFS will become thelargest annual trade showin Singapore.

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oriented guide continues tobe an effective platform forSingapore furniture playersto build brand and industryvisibility, establish strategicpartnerships and expandtheir businesses globally. Thelatest edition of the resourceguide, Singapore Furniture2007-2008 Directory, will beavailable end 2006.

OverseasIndustry ClusterGiven our small domesticmarket and limited resources,SFIC members were activelyencouraged to ventureabroad to build theirpresence regionally andglobally over the last twelvemonths. Leveraging therelatively lower operationalcost in neighbouringcountries such as China,Indonesia, Malaysia,Thailand and Vietnam, manyindustry players had set upmanufacturing facilities inthese countries whilemaintaining Singapore astheir HQs for knowledge-driven activities such as

Overseas Fairs,Business Missions& Business MatchingProgrammeTo help member companiespenetrate emerging marketsand tap new businessopportunities, SFIC steppedup members’ participationin trade fairs and missions.Besides internationallyacclaimed fairs such asimm Cologne (Germany)and Index Dubai (UAE),SFIC also embarked onbusiness missions to Italy,USA, Malaysia and Vietnamduring the year.

The Council was alsoinstrumental in facilitatingbusiness deals for itsmembers throughout theyear via its business matchingprogramme. Such effortswere further complementedby the Singapore FurnitureDirectory, updated andpublished biennially as aresource guide forinternational furniture tradeplayers on the Singaporefurniture trade. The export-

marketing, design, brandingand product development.

To help SMEs establish afoothold overseas, SFICpromoted the formation ofindustry clusters or consortiain targeted markets. TheSingapore Furniture IndustryPark in Kunshan (China)is an excellent example ofwhat industry players canachieve overseas throughcollective strength andcollaboration.


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THE YEAR IN REVIEW

THRUST 2RAISE DESIGN STANDARDS

blood and launch careers ofbudding designers.

2nd Furniture·Lifestyle·Innovations·Perspectives(FLIP!) ChallengeThe FLIP! Challenge aimsto inspire the youngergeneration to think out ofthe box, design andinnovate within the physicallimit of a piece of furniture.The 2nd FLIP! Challengereceived 54 entries fromseven local arts and designinstitutions, an overwhelming50% increase as comparedto the previous year. Forthe 2nd FLIP! Challenge,participants were taskedto create functional furnitureand works of art out ofconventional woodengarden chairs for a particulargroup of personalities,while retaining theseat function.

During the year, the SFICcarried out a number ofinitiatives to encourage morecompanies to adopt designas a strategic tool in theirbusinesses as well ascultivate an expanded poolof furniture design talents.The ultimate goal is toleverage design as asustainable and strategicadvantage to anchor theindustry’s growth in thecompetitive global market.

Furniture DesignAward (FDA) 2006FDA 2006 received stronginternational support witha total of 365 entries from14 countries. The highparticipation rate boretestament to the industry’srecognition of thecompetition as an idealplatform to harness designgems, talent spot young


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FDA and FLIP!Challenge Finalists’ShowcaseAs a part of SFIC’s designoutreach efforts, the worksof the FDA 2006 and 2ndFLIP! Challenge finalists wereexhibited during IFFS/AFS2006 as well as at theEsplanade and SingaporeHistory Museum. Thesepublic platforms played asignificant role in cultivatingthe appreciation of the arts

and design among themasses and helped nurtureyoung blood for a fulfillingcareer in design.

DesignerCo-DevelopmentProgrammeThe Designer Co-DevelopmentProgramme, which comesunder the furniture industryLEAD Programme, aims toleverage the annual FDA toidentify outstanding

young talents and rewardthem with a one-yearemployment contractwith leading furniturecompanies in Singapore.SFIC and these companieswill jointly fund the salariesof the selected designersfor 12 months and placethem on an intensivementoring programme thatleads eventually to thecommercial production oftheir works.


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THE YEAR IN REVIEW

Furniture DesignForum 2006To ensure that the Singaporefurniture industry thrives in aconducive design-orientedenvironment, SFIC has beenrelentless in its efforts topromote design excellencein the furniture industry andto cultivate a pervasivecreative culture in Singapore.The 4th Furniture DesignForum was one fine exampleamong others, where a panelof five acclaimed designersand accomplishedentrepreneurs from Australia,Hong Kong, UK and USAshared their insights ondesigning successfulproducts and design trends.The full-day event was wellattended by over 250 localand international participants.

Design EntrepreneurDevelopmentProgrammeSFIC also announced inMarch 2006 a new DesignEntrepreneur DevelopmentProgramme to allow youngdesigners to gain exposure,experience and confidenceto make their foray into theinternational market. Aptlyknown as “PLATFORM”,the Programme aims toprovide local and foreignpromising young furnituredesigners and entrepreneurswith the unparalleledopportunity to showcase theirprototypes, kick-start theirdesign careers and find fruitfulpartnerships with globalmanufacturers at IFFS/AFS,starting 2007.


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Design Partnershipand SupportThe success of the variousSFIC design-centricinitiatives was also attributedto the extensive supportrendered by the variousgovernment and tradeagencies such asDesignSingapore Council,IE Singapore, SPRINGSingapore, DesignersAssociation of Singapore,Interior DesignConfederation (Singapore),and the Singapore Instituteof Architects.

The Esplanade, SingaporeHistory Museum, HTLInternational Holdings Ltd,Sitra Holdings (International)Pte Ltd, Trans-link ExhibitionForwarding Pte Ltd, IFFSPte Ltd as well as manyother sponsors also playeda part in the Council’s pushfor design excellence asa key driver of nationalcompetitiveness inSingapore.

International FurnitureDesign Advisory PanelTo help catapult the Council’sdesign initiatives to greaterheights, eight distinguishedlocal and international designpersonalities were appointedas members of theInternational Furniture DesignAdvisory Panel.

The SFIC also convened its2nd Design Roundtable inMarch 2006 to tap thepanel’s inputs to chart thecontinuous growth of theindustry through design.


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THE YEAR IN REVIEW

Launched in 2004, theFurniture Learning Institute(FLI) aims to improve eachemployee’s value-add in theindustry. At the FLI, suitablecurricula are constantly beingdeveloped for industrypractitioners to continuouslyupgrade themselves.

To further strengthen thetraining infrastructure, FLIalso collaborated with theSingapore Workforce

THRUST 3FURNITURE LEARNING INSTITUTE

Development Agency (WDA)and aligned its trainingprogrammes to includeframeworks such as WDA’sEmployability Skills Systemand Workforce SkillsQualifications in Retail.

Currently, FLI offers a totalof 10 customised andcertifiable trainingprogrammes for theSingapore furniture industry.


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THRUST 4ESTABLISH AN INTERNATIONALFURNITURE CENTRE

The International FurnitureCentre (IFC) is a keycomponent of both theFurniture ICAP and LEADProgramme. It aims toestablish Singapore as apremier furniture hubproviding total solutions tothe global market.

Conceptualised as a part ofJTC Corporation’s masterplan to revitalise SungeiKadut, one of Singapore’soldest industrial estates, theIFC will serve as the epicentreof the furniture hub which willalso boast a premier furniturestreet of quality trade andexport-focused furniturecompanies together with alinear green mall andsupporting industries toattract investments fromregional furniture industryplayers and trade visitors.

Currently, Sungei Kadut ishome to the largestconcentration of furniturecompanies in Singapore.Under Phase 1 of thetransformation plans, SFIC

has identified an existingbuilding to kick-start the IFCproject. IFC will compriseshowrooms for local andoverseas exporters; as wellas offices for trade players.

Slated to be operational bymid 2007, SFIC will draw onthe strong governmentalsupport and its more than twodecades of industryexperience in managingIFFS/AFS and The FurnitureSquare to value-add to theIFC project.

When opened, IFC will alsobe well supported bysurrounding furniture andrelated companies in SungeiKadut to provide aconvenient, synergistic,one-stop and year-roundtrade platform for theinternational furniture tradeplayers. Ultimately, IFC aimsto be a conduit to dynamicallygrow local furniture exportbusinesses and to becomethe centre for tradeexchanges, learning andinnovation.


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THRUST 5DEVELOP IMMEDIATE MEASURES TOHELP INDUSTRY PLAYERS

To ensure that the FurnitureICAP and LEAD Programmewould be of immediaterelevance to industry players,SFIC also explored real-timerelief measures to assistmembers in areas of need,develop their capabilities,better manage their businessand add value to theirproducts and services.

Under its 2nd SFIC MemberAssistance Scheme, up to a

total of $1.3 million was setaside from the SFIC coffer tohelp members expand andupgrade their businessoperations.

SFIC also collaborated withthe Specialists Trade Allianceof Singapore and relevantauthorities on pertinent issuesto facilitate a more conducivebusiness environment forlocal furniture contractmanufacturing players.

THE YEAR IN REVIEW


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Formation ofStrategic AllianceRecognising that companieswithin the Singapore furnitureindustry have similar needs,SFIC has been workingclosely with relevantgovernment agencies,statutory boards, tradeassociations and companiesto develop and promote newinitiatives that are beneficialto SFIC members andthe industry.

On the national level, theSFIC, for the past year, hadbeen an effective bridgebetween the government,statutory boards and tradebodies to ensure that theindustry’s views were heardwhen new legislations werebeing formed.

SFIC is represented in theSingapore Manufacturers’Federation, SingaporeChinese Chamber ofCommerce and Industry,

THRUST 6DEVELOP AND MAINTAININDUSTRY GROWTH PROFILE

Singapore Association ofConvention and ExhibitionOrganizers and theSpecialists Trade Allianceof Singapore. On the regionallevel, SFIC continues torepresent Singapore inthe ASEAN FurnitureIndustries Council.

Other IndustryNetworking ActivitiesAnnually, SFIC organisesseveral networking activitiesto create opportunities forindustry players, governmentand media representativesas well as businessassociates to build rapportand establish closer businessrelations. These activities inthe last twelve monthsincluded:• Designers’ Cocktail

Networking Sessions• Dinner & Dance• Golf Tournament• Lunar New Year

Luncheon Celebration


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