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Events

RCEP Industrial Cooperation Conference/Yunfu Mission Trip

November 23, 2023

The “China (Guangdong Yunfu) RCEP Industrial Cooperation Conference, co-organized by China-ASEAN Business Council, RCEP Industry Cooperation Committee and Yunfu Municipal People’s Government of Guangdong Province, China, took place in Yunfu City on November 8, 2023.

SBMSA President Ng Soy Ng was invited to attend and deliver a speech introducing the current situation of the construction industry in Singapore and potential cooperation opportunities. He was accompanied by Vice President Ng Swan Meen and Asst Hon. Secretary Kris Yue Ling.

RCEP, the Regional Comprehensive Economic Partnership, is a free trade zone jointly established by 10 ASEAN countries and five other nations, including China, Japan, South Korea, Australia, and New Zealand, in 2020. The RCEP Industrial Cooperation Committee was formed in 2021, and SBMSA is honored to have been invited as one of its members.
The conference, attended by as many as 300 political leaders and representatives of private chambers of commerce, aimed to promote industrial collaboration in the RCEP region and facilitate trade and investment cooperation among enterprises.

Before the conference, the RCEP Industrial Cooperation Committee held its fourth meeting, where representatives from various countries discussed and exchanged views on the current economic situation and regional cooperation issues.

In addition to the official proceedings, the organizers arranged visits to the inaugural Yunfu (Emerging) Metal Manufacturing Industry and Stainless-Steel Kitchenware Expo, local Wenshi Food Group, Zen Culture and Creative Industry Park. The hospitality extended to us was meticulous and comprehensive.

During their spare time, the team visited various stone enterprises and Yunfu Stone Industry Association, and experienced firsthand the rich history of Yunfu, boasting more than 400 years and over 6,000 stone enterprises of various sizes. Yunfu is rightfully recognized as the “Stone Capital of China.”

On the same day, Yunfu authorities organized a symposium, bringing together nearly 20 leaders of leading enterprises under the Stone Association. The symposium highlighted the current state of the Yunfu stone industry and expressed the mutual willingness of Yunfu and Singapore to collaborate in stone procurement and various future projects.

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Events

Chinese New Year Celebration Chinese New Year Celebration

23TH February 2024

The Association held it Chinese New Year Celebration at TA Hub Penthouse. The luncheon was attended by 90 guests, including 55 representatives from Specialists Trade Alliance of Singapore (STAS), Six Trade Associations and other Association. Our GOH was Minister for National Development Mr. Desmond Lee and special guest Mr. Koh Choon Keng, President of the Singapore Chinese Chamber of Commerce also attended the event.

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Latest Industry News

[The Straits Times] New platform will let small subcontractors get paid as soon as developers make a payment

Colin Tan
Senior Correspondent
UPDATED 23 NOV 2023, 10:29 PM SGT

SINGAPORE – A new platform under development will improve cash flow for small subcontractors by allowing them to get paid as soon as a property developer pays the main contractor for a just-completed portion of work.

The platform will shorten the often lengthy payment process significantly, so much so that subcontractors could get their money as early as the day after their work is certified as completed.

It will also mean the developer and the banks need only deal with the main contractor rather than with every subcontractor down the line, which could entail engaging with hundreds of individual firms. 

The Doxa Connex platform, as it is called, is a tie-up between Visa, UOB and local fintech Doxa.

It allows any entity within a particular project’s ecosystem to upload all its documentation, making the verification and payment process more transparent and, in turn, simpler and quicker.

Previously, it could take up to three months or more for payments to flow through, as each company had its own system of processing claim submissions and disbursing money. These delays often result in a cash crunch, especially for smaller contractors at the lower tiers that are also often constrained by a lack of access to working capital.

“Ultimately, this unified system enables both traceability and accountability, while also eliminating the banks’ risk exposure to all the underlying contractors,” said Doxa chief executive and co-founder Edmund Ng.

He noted that for every project, a main contractor may have direct dealings with as many as 50 to 70 subcontractors, but subsequent layers of sub-subcontractors mean there could be several hundred other smaller players below this level.

Industrial landlord JTC Corporation and local builder Kimly Construction are planning to run trials on the platform, using data from past projects to simulate real-world scenarios.

“These trials are focused on achieving quicker payment cycles for contractors, which is a critical pain point in the construction sector,” Mr Ng said.

 

The platform, along with the crucial payment function, is expected to be up and running by the second quarter of 2024.

Each subcontractor will be issued with a virtual UOB Visa card that will allow them to be paid almost immediately for their services ahead of the invoice due date.

Ms Adeline Kim, Visa’s country manager for Singapore and Brunei, noted that while UOB is “the first issuer that we are working together with on this platform”, the payments giant is looking forward to working with other banks and financial institutions.

“We want to help improve working capital for subcontractors so that they can focus on running their business,” Ms Kim said. “This is because their survival is critical to the main contractor. If their businesses fail, replacements will need to be found and such delays are costly.”

Another huge benefit is that payments will not hinge on the main contractor, said Kimly Construction director Louis Khoo.

He noted that “whenever there is a verified claim for work done, the amounts are immediately drawn down via the Visa virtual cards. The main contractor receives the remainder”.

Ms Elaine Lee, JTC’s director of contracts and procurement division (construction), added: “We believe (the platform) will make a noticeable difference, and we are keen to see the benefits it will deliver.”

Doxa, which is part of the Visa Accelerator Programme for start-ups, was founded five years ago and was among the seven finalists shortlisted from a field of almost 500 applications. It created an administrative tool to help the construction industry manage and share documents between companies on a common platform.

Its potential became apparent when the payment function was added, Ms Kim said.

Sustainable financing in the building and construction sector – New Platform to let small subcontractors get paid as soon as developers make a payment.
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Events

SBMSA Social Gathering Dinner 10/2023

26TH OCTOBER 2023

The Association organised their 5th social dinner gathering at Swatow Seafood Restaurants which was attended by 41 members from 19 companies. 1 new company, IGUS, was presented with their membership certificate and pin by President Ng Soy Ng. Floor Melody presented their portfolio during the dinner, IGUS introduced some low-cost robotic automation to the members and WSG also talk about some manpower grants available from the government.

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Events

SBMSA Social Gathering Dinner 08/2023

24TH AUGUST 2023

The Association held it 2023 Annual General Meeting and 4th Networking Dinner at Yan Palace Restaurant. 1 new company, Floor Melody Pte Ltd was presented with their membership certificate and pin by President Ng Soy Ng. Hiap Huat Paint Co and RenderTec Marketing presented their portfolio during the dinner.

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Latest Industry News

SCCCI’s SME & Infocomm Commerce (SMEICC) Conference Series 2023, 15th & 16th August @ Suntec Convention Centre

SMEICC 2023 Information

Singapore’s largest and only bilingual SME conference for the past 25 years, Singapore Chinese Chamber of Commerce & Industry cordially invite you to attend the annual SME and Infocomm Commerce Conference (SMEICC) at Suntec Singapore Convention & Exhibition Centre at Level 4, Hall 405 & 406 on 15 and 16 August 2023. 

Join us for “LEADERSHIP NEXT: Rising Above Adversity“, as this year’s conference will delve into the art of navigating uncertainties and uplifting your business to the next level.

 

Reserve your complimentary pass at https://www.smeicc.org/smeicc-2023-registration/ or visit www.smeicc.org for more information. Email smeicc@sccci.org.sg for queries.

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Events

Exchange Meeting between Yunfu Municipality, Guangdong China and SBMSA

28TH JUNE 2023

On 28th June 2023, 13 representatives from Yunfu Municipality, Guangdong China visited SBMSA and had a fruitful networking session for 2 hours.

The visit of the Chinese delegation aimed to foster closer ties between SBMSA and Yunfu City and to explore opportunities for collaboration. The visit was a significant step in enhancing mutual understanding and promoting friendship between the two parties.

The visit took place from 2.30pm to 4.30pm which started with a tour of the Association office at unit 02-25 followed by networking session at TA Hub Ceylon Board Room. President Ng Soy Ng started the meeting by welcoming the delegation and gave a brief introduction of the Association and the Exco present. President Ng mentioned that he was invited to attend the inauguration online ceremony of Yunfu Stone Industry Committee held in Beijing last August and delivered a speech, thus he is quite familiar with Yunfu.

Party Secretary of Yunfu Municipal Committee, Mr. Lu Rong Chun presented 3 videos during the session of which 2 video is on metal manufacturing industrial and stone building materials industrial. Yunfu was founded in 1994 and is the youngest prefecture level city in Guan Dong Province. There are 5 counties, covering 7,785 sq. km with a total population of 3 million people. Yunfu is the west gate of Guan Dong and act as a bridgehead for reaching out to Southeast Asia and even Asean countries.

Secretary Mr. Lu Rong Chu invited the Association to visit Yunfu in the near future to attend Yunfu stone exhibition and identified varies investment opportunities and area for cooperation. He also presented a Yunfu exquisite jade Ruyi to the Association and in return, SBMSA gifted their 90th Anniversary Commemorative magazine to all Yunfu representative.

The networking session ended with an afternoon tea session where representative from both sides had a good conversation and looked forward to further contacts and work together in the future.

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Events

SBMSA Social Gathering Dinner 06/2023

21ST JUNE 2023

The Association organised their 3rd social dinner gathering at Eternal Garden Restaurant which was attended by 42 members from 22 companies. 2 new companies, Nana Steel Pte Ltd and PWM Steel Pte Ltd, were presented with their membership certificate and pin by President Ng Soy Ng. Arimoko Pte Ltd and YZ Timber also presented their portfolio before the dinner.

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Events

SBMSA Social Gathering Dinner

11TH APRIL 2023

Once again SBMSA continue with the tradition and organised our second social gathering dinner after Covid at Yan Palace in Hong Lim Complex.  Special menu was arranged and members only need to pay S$30 to enjoy a 9 course sumptuous dinner with free flow wine. 

The dinner started off with President Ng Soy Ng’s welcome speech and he hope such gathering can be organised every 2-3 months.  President Ng also talks about the Association recent trip to White Horse Ceramic factory in JB, Malaysia and invitation from China Building Decoration Materials Association.  44 members from 22 companies attended the dinner of which 2 are newly joined Companies.  Representative from the 2 companies gave a short introduction of their company and their product.

President Ng continues to introduce 6 Trade Associations and Specialists Trade Alliance of Singapore (STAS) which is linked with many government bodies related to building.  SBMSA is part of both Associations and have a close tie with Singapore Chinese Chambers of Commerce and Industries as well.

We are also honoured to have representative from Singapore Polytechnic (Ms. Yina) and Singapore Institute of Management (Ms. Esther) gracing our social dinner to give a short introduction of courses they had specially tailored for SBMSA Members to help them digitalise and supports them to develop business growth capabilities.

Lastly, President Ng thanks the 6 hosting companies for topping up the differences in cost and all the hosts went around with President Ng to toast with all members. The social gathering dinner concluded successfully with joyous laughter and karaoke singing lead by Vice President George Tan.

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Events

White Horse Ceramic

28TH MARCH 2023

White Horse Ceramics Industries Sdn Bhd was established in 1992 and was successfully listed on the Kuala Lumpur Stock Exchange in 1999. Incorporated in 1998, White Horse Ceramic Singapore is a renowned ceramic manufacturer known for quality, innovation, and artistry. The Singapore Building Materials Suppliers’ Association (SBMSA) was honored to visit their third factory plant in Johor Bahru, Malaysia, which was built in the year 2000 and occupies an area of 20,000 m2.

The factory tour provided fascinating insights into the ceramic production process, from raw materials to finished products. SBMSA’s members witnessed every stage of the production process, including clay and water mixing, shaping, firing, glazing, and polishing.

The visit began with a complimentary breakfast from White Horse Ceramic and an introduction to the company’s history and overview. This was followed by a tour of the factory plant, which took two hours to complete as it spans a distance of 2km. The members were amazed at the size of the equipment and the modernization of the production line. The factory even has its own water treatment system and underground water storage.

The visit provided an excellent opportunity to learn about the history of ceramics, the manufacturing process, and the company’s commitment to sustainable and eco-friendly practices. White Horse Ceramic has already obtained ISO 14001 certification and many green awards and accreditations.

After the factory visit, SBMSA’s members were treated to a sumptuous lunch by White Horse Ceramic at Tanjong Putri Golf resort, followed by a golf game led by President Ng Soy Ng. The rest of the members had an enjoyable afternoon having massages and shopping at KSL shopping centre.

Video Credit : White Horse Ceramic Singapore

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