BIZSpoke | 26 July 2024 - Shaping the Future of Business Insights from SABS

26 JULY 2024

Shaping the Future of Business: Insights from SABS^®

The 2^nd Singapore Apex Business Summit (SABS^®) kicked off on 23 July at the Sands Expo and Convention Centre, bringing together over 1,700 participants which include prominent business leaders, senior government officials and thought leadership experts across the three days. Themed "End of Business as Usual: Shaping the Future of Business," the summit puts a spotlight on the tumultuous changes impacting businesses arising from the external uncertainties, the need to keep up with the accelerated pace of technological changes and net-zero transition.

The summit also saw 6 Guests-of-Honour, and over 100 influential speakers across 20 plenaries. This year marks the debut of Community Marketplace at SABS^®, an initiative by the SBF Foundation that bridges business with social impact. Other highlights included the signing of a joint MOU with HSBC to help local businesses capture new growth opportunities in key trade corridors and the launch of CFOTI.

Exclusive visits to cutting-edge facilities like Keppel Marina East Desalination Plant, Schneider Electric Innovation Hub, PSA Innovation Centre and Mastercard Experience Center offered attendees first hand experiences of innovation in action. The momentum will continue with a series of upcoming future-focused FRB Spotlights, offering an immersive journey for participants to learn about future-ready practices and operations.

The summit generated valuable discussions on the future of work, sustainable business practices, corporate purpose, and the role of technology in driving growth. Want to know more on what went into our plenaries? Click here to learn more at our SABS® Knowledge Centre.

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SINGAPORE APEX BUSINESS SUMMIT (SABS®) KEY HIGHLIGHTS

SBF and HSBC Partner to Drive International Expansion and Net-Zero Goals

SBF and HSBC have formed a landmark partnership, signing an MOU at SABS on 24 July. This collaboration is set to support local businesses in their international expansion and net-zero carbon goals. HSBC will provide customised solutions for Singapore companies’ net-zero transitions and has introduced a detailed business guide for ASEAN markets, the Greater Bay Area, India, and the Middle East. SBF CEO Kok Ping Soon emphasised the strategic opportunities in manufacturing and renewables, leveraging the partnership’s resources to drive successful global ventures.

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SBF Sets Up CFOTI to Boost Cross-Border Trade and Investment

Announced at SABS by SBF Vice-Chairman Andrew Kwan on 25 July, SBF will be launching the Centre for the Future of Trade and Investment (CFOTI) to boost cross-border trade and investment. Supported by the Ministry of Trade and Industry, Enterprise Singapore, businesses and foundations, CFOTI aims to create a community of trade practitioners, thought leaders, and officials, offering expertise and support to help businesses, especially SMEs, navigate new markets and strengthen supply chains.

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WHAT'S NEW

SBF CEO Discusses Business Opportunities Amid Global Trade Headwinds

In a CNBC interview held on 19 July, SBF CEO Kok Ping Soon discussed how Singapore can navigate rising global trade protectionism and seize opportunities amid the shifts in global supply chains. He emphasised that while some countries are building walls, Singapore can continue working with like-minded partners such as those in ASEAN which is seeing high growth potential.

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SBF FTA Survey 2023: More Singapore Businesses Leveraging FTAs

In a 2023 survey on Free Trade Agreements (FTA) conducted by SBF, the results showed that more Singapore businesses are leveraging FTAs compared to 2021. Despite this progress, businesses still face challenges like meeting rules of origin and goods classification discrepancies. Hear from SBF CEO Kok Ping Soon as he shared more on the benefits of FTAs in the 18 July interview on CNA's Singapore Tonight show.

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SBF Convenes 4th AfA Meeting to Optimise Industrial Land Use

SBF held the 4^th Alliance for Action (AfA) on Business Competitiveness meeting on 17 July, co-chaired by Senior Minister of State Low Yen Ling and SBF Vice Chairman Mark Lee. The focus was on optimising industrial land use for strategic and productive business activities. We are encouraged by the high-quality feedback and insights from the business community and the government’s openness to consider them. For questions or feedback, please contact the AfA Secretariat at [email protected].

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Launch of Jobs-Skills Integrator for the Wholesale Trade Sector

We are thrilled to invite you to our industry event on Workforce Transformation and the Launch of Jobs-Skills Integrator for the Wholesale Trade Sector. Event highlights include discussions on global trends and job transformations in the wholesale trade sector, an insightful fireside chat with industry leaders on future-proofing your workforce, along with an overview of the JSIT-WST programmes designed to support the human capital needs of wholesale trade companies.

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How Has Corporate Giving Changed?

In a 13 July episode of "Your Singapore Weekend" CNA radio show, SBF CEO Kok Ping Soon and National Volunteer And Philanthropy Centre (NVPC) CEO Tony Soh discussed the rise of corporate philanthropy in Singapore. Mr Kok highlighted that 75% of businesses engaged in corporate giving in 2021, an increase of 15% from 2017, emphasising its alignment with corporate purpose and competitive advantage. Mr Soh noted a shift towards impactful CSR initiatives beyond just donations, suggesting that companies are increasingly seeking strategic ways to give back.

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Stay Informed on PW Mark and TG-FWAR Guidelines

Stay compliant and updated on the latest government procurement requirements for the Progressive Wage Mark (PW Mark) and the Tripartite Guidelines on Flexible Work Arrangement Requests (TG-FWAR). Join us for this complimentary Information Sharing Session on 2 August, where our speakers will provide an overview and offer actionable steps for compliance.

Secure your spot now—limited seats available!

SUSTAINABILITY CENTRIC

Unleash Your Business's Green Potential!

Join SBF and SGTech for the SGTech CXO-In-Conversation: Tech Enabling Sustainability. Hear from industry giants like Razer and Microsoft, plus inspiring ESG-accredited SMEs, on how they’re turning sustainability challenges into opportunities. Explore the SGTech Scope 3 Pledge and connect with like-minded businesses who’ve already made their mark with sustainability reports. Use code 14AUG50OFF for a special discount now!

SOCIALLY IMPACTFUL

Ready to make a world of difference?

Join the Company of Good Fellowship by NVPC and lead your organisation towards a brighter, more sustainable future. This revamped programme, proudly supported by SBF, equips leaders like you with the tools to drive ESG, sustainability, and social impact initiatives. Applications for the 2^nd round are now open! Don't miss this opportunity to create a lasting legacy.

SUPPORTED EVENT

Nominate for Digital Services Awards 2024

Secure a government-awarded accolade and gain recognition for your exceptional websites at the Digital Services Awards 2024. Nominations are now open for Best Usability, Most Mobile Optimised Website, and Most Popular Informational Website Award until 6 August 2024, 6pm. Submit your nominations today!

NOMINATE NOW

POLICE ADVISORY

Businesses Beware! Fake Bulk Order Scam Back With a Bite

Scammers are back, targeting renovation firms, restaurants, retailers, and service providers with a devious trick. Since April 2024, over 60 businesses have fallen victim, losing a staggering $831,000 to this fake bulk order scam. Don't be next! The Singapore Police Force is urging businesses to be vigilant. Read the police advisory for more details.

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