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Singapore International Chamber of Commerce

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Issue 143, 6 Jun 2017

Dear Members and Friends

Company boards need to understand key risks in order to manage them. Here are the top 5 global risks shared by our collaborator the Australian Institute of Company Directors (AICD).

Have a great week ahead.

Warmest regards
Victor Mills
Chief Executive

Top 5 global risks

In an interconnected world, shocks can be spread swiftly with devastating impact and long-lasting effects politically, socially and economically.

Earlier this year, the World Economic Forum released its latest Global Risks Report, based on a survey of about 750 experts and decision-makers across government, academia, non-government and international organisations.

The report lists the following risks for 2017 in terms of likelihood:

1.  Extreme weather events
Environment-related risks have consistently featured high in the risk report for the last seven years. Ineffective management of the environment has led to local problems that are increasingly having global impacts.

2.  Large-scale involuntary migration
Involuntary migration caused mainly by conflict and war, but also by climate and disease, could exacerbate already existing social problems, according to the report.

3.  Major natural disasters
A greater interdependence among different infrastructure networks is increasing the scope for systemic failures caused by natural disasters.  This  trend  could  push  the already high costs of  natural  disasters  to 'astronomical' levels.

4.  Terrorist attacks
Terrorist attacks not only pose a grave direct risk, but the response to an attack can be an indirect risk in that it disrupts civic and economic activity.

5. Data fraud/theft
Technology related risks have only recently emerged as one of the top concerns of survey respondents. There is now greater awareness than ever of cyber risks following the Russian cyberattacks during the US presidential election and the Sony Pictures hack.

This is an edited version of an article that originally appeared on the Australian Institute of Company Director’s website. Click here for the full article.

The AICD’s International Company Directors Course is an education programme that covers strategy, risk, compliance and financial management in an international context. Find out more here.


By now all Chamber member companies would have received a complimentary copy of the directory. Extra copies are available at the member-exclusive price of S$28 per copy. 

Non-members may purchase the directory at S$68 per copy.

Please email publications@sicc.com.sg to place your orders.


Talent Development Series: Rising Through the Ranks, 15 June 2017
Dr Indigo Triplett, CEO of 4D Performance, will introduce her HR philosophy of playing the game by the unwritten rules that can help professionals move quickly from the middle to the top.  Read more

AGM 2017 & Networking Reception, 21 June 2017
All  members  are  warmly  invited  to  attend  your  Chamber’s AGM. This will be followed by a Networking Reception hosted  by  NVPC.  Read more

Dialogue with MOM and TAFEP, 29 June 2017

What does being on the MOM watch list mean for companies and how do companies get themselves off the watch list?  Our speakers from MOM will answer these questions at our annual dialogue session.  Another topic that will also be covered will be how TAFEP and MOM can support firms that are committed to progressive human capital practices, through the Human Capital  Partnership Programme.    Read more

Distinguished Speaker Series: Dr Maliki Osman, 5 July 2017
Senior Minister of State Dr Maliki Osman will share his thoughts on the symbiotic relationship between the business community and a strong and credible defence force. This will be a closed-door dialogue for members only.
Read more

Women in Leadership Series, 25 July 2017
Bianca Stringuini, Head of Diversity & Inclusion, Asia Pacific for JP Morgan will tackle the topic of how companies can compete in a global environment through diversity. Attendees will gain insights into JP Morgan Chase’s global diversity strategy and learn how to effectively implement diversity and inclusion policies in your work place.  Read more

2017 SICC Golf Tournament, 24 August 2017
Your Chamber’s annual golf tournament tees off at the Singapore Island Country Club's New Course at 1.00pm on 24 August 2017. Our Guest of Honour this year will be Mr Ng Chee Meng, Minister for Education (Schools) and Second Minister for Transport.  Read more 

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Membership Benefits Scheme

Special rates at all Ascott, Citadines & Somerset serviced residences worldwide
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Committee Meetings

30 May 2017,

Corporate Governance & Regulatory Committee Meeting Highlights

1 June 2017,
Hospitality Services Committee Meeting Highlights

27 June 2017,

ASEAN Committee Meeting

Click here for meeting schedule

Members who are interested to attend the meetings may contact philip@sicc.com.sg.


 Partners' Events & Initiatives


AVCJ Private Equity & Venture Forum - Singapore 2017: 19–20 Jul

Find out more

 Break the ceiling touch the sky – the success and leadership summit for women™ : 4 Sep 
Find out more

MEDEX 2017 – The Medical Trade Fair In Yangon, Myanmar: 17–19 Nov
Find out more

 Click here for more



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