President’s Report for FY2009

Dear Members,

In 2009, we celebrated the Enterprise 50 (E50) Club’s 10th anniversary which marked 10 years of unity amongst the most enterprising and successful businesses in Singapore. It was also the first year in my term of presidency since taking over from past president Mr Sam Goi. Let me take this opportunity to first thank Mr Goi for his eight years of illustrious leadership in establishing the Club as a preeminent association, respected by the local business fraternity.

Over the past year, we saw a remarkable increase in membership and participation in Club activities. We are pleased to welcome 31 new members who have joined us in the period, bringing the total number of members to 141. This was possible through increased awareness of the Club at the annual E50 Awards and pursuing activities that presented award winners a value proposition.

On 23 September 2009, the Club launched its official meeting place for events at Tung Lok Classics at Orchard Parade Hotel by Mr Lui Tuck Yew, Acting Minister for Information, Communications & the Arts. In continuing its regular dialogue with the government the Club organized five luncheons with Ministers in the past year including Dr. Vivian Balakrishnan, Minister for Community Development, Youth and Sports, Mrs. Lim Hwee Hua, Minister, PMO, Mr Tharman Shanmugaratnam, Minister for Finance and Mr Mah Bow Tan, Minister for National Development.

To further increase our social interaction amongst member companies, the Club organised its 7th E50 Club-OCBC Golf Tournament and Networking Dinner in March 2010 at Raffles Country Club with guest-of-honour Mr Gan Kim Yong, Minister for Manpower. There were also opportunities to visit the yards of Franklin Offshore International Pte Ltd and the largest cold storage in Singapore of Pin Corporation Pte Ltd, who are our member companies. Three overseas business missions were organised last year for members to explore new growth opportunities together, with the last to Zhejiang, China with the Singapore-Zhejiang Economic and Trade Council.

E50 Club will continue to promote a spirit of unity amongst member companies, and create platforms for exchanging business ideas and knowledge in 2010 through luncheons, seminars, business missions and new partnerships. We are happy to be now in partnership with OCBC Bank as our sponsor for the Club’s events in 2010. OCBC Bank is also the main sponsor of the annual E50 Awards.

Personally, I am convinced that membership with the Club presents unique benefits that are enhanced through increased Club participation. Expanding our membership strengthens our association and increases business opportunities. On behalf of the Management Committee, I would like to thank our honorary council members from The Business Times and KPMG, and express my gratitude to all members for your continued participation and support for the E50 Club. I wish you the best in the year ahead.

Andy Lim