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Singapore International Chamber of Commerce

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Issue 242, 30 Apr 2019
Dear Members and Friends

Just as businesses are going to have to mitigate climate change and resource shortages by embracing circular economy solutions, they are also going to have to take the lead in reducing inequality. When they do they’ll achieve true business sustainability.

Your Chamber is supporting SBF’s project on inequality designed to answer the question what more can businesses do to mitigate inequality. SBF is looking for volunteers to serve on 4 sub-committees which are tasked with coming up with practical ideas for businesses to mitigate levels of inequality in our society.

There are 4 sub-committees to choose from and SBF is looking for 20 people for each of the 4. I have been invited to serve on the sub-committee for mature workers and have agreed.

This project will run from May 2019 until Oct 2019 and each sub-committee is expected to meet 2-3 times. SBF will issue a report to government and to the business community at the conclusion of this initiative.

Please let me know by May 2 if you are interested to serve and, if so, which of the following sub-committees you prefer. I will then share your name and email address with SBF which will make all decisions with regards to who serves on what sub-committee.



Broad Reasoning

1. Low Income

Monthly income per household member <$1,200

Workers and youth from low-income families tend to have limited access to resources and opportunities required for economic advancement. We believe that this is an area that businesses can make a difference.


Representative of the middle-class (“middle wage”) workforce, excluding business owners.

This group tends to be “sandwiched” in terms of the resources they have versus the assistance they are eligible for. In the Singapore context, this is also a growing group. Hence, this group may feel disenfranchised and their ability to advance eroded.

3. Mature Workers

Persons aged 55 and older.

This group tends to face more challenges in terms of skills and retirement adequacy given longer life expectancy today.

4. Integration


To cover issues that are common across all workstreams including societal challenges, table stakes already in place to address inequality, how will inequality play out for the next generation.

Thank you for your support and all the best for a great week ahead.

Warmest regards

Victor Mills
Chief Executive



Leading Digital Transformation, 7 May 2019
Find out what it takes for a Senior Leadership Team (SLT) to lead and successfully drive digital transformation.
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C-suite Networking Night, 15 May 2019
All C-suite members are warmly invited to an exclusive networking cocktail hosted by Swiss Club. The reception will take place at the elegant Rifle Lounge at its Club House.
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SICC Circular Economy Forum, 29 May 2019
The Chamber’s second Circular Economy Forum this year will showcase how member Philips, a world-leading health technology company, enables a rethink of business models that can contribute to the circular economy.
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Diversity and Inclusion at Shell, 11 June 2019
Ms Lyn R. Lee, Chief Diversity & Inclusion Officer at Shell will share insights from her company’s journey to weave diversity and inclusion into their business plans.
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ATA Carnet Seminar: The Passport for Goods, 12 June 2019
Understand how the ATA Carnet works, and how your business can benefit from using it. This half-day seminar will equip participants with all they need to know to apply for and use the ATA Carnet.
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SICC AGM Luncheon, 20 June 2019
Your Chamber’s AGM Luncheon will take place on 20 June at Grand Hyatt Singapore. The Guest of Honour is Mr Heng Swee Keat, Minister for Finance, and he will deliver a keynote address and participate in a Q & A session during the lunch.
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Making or Breaking the Future, 1 August 2019
Join us as our guest speaker Mr Devadas Krishnadas, Chief Executive Officer of Future-Moves Group shares his perspectives on changes in demography, technology and politics. He will also identify emergent challenges, opportunities as well as implications for governance.
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Interest Group Meetings

24 Apr 2019,
Corporate Governance
& Regulatory Interest Group Meeting Highlights

10 May 2019,
Joint Interest Group Dialogue
- Human Capital &
Education Services

30 May 2019,
Legal Services Interest
Group Meeting

Click here for meeting schedule

Members who are interested to attend the meetings may contact [email protected].

 Partners' Events & Initiatives


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2 May
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The Hidden Hands of Multilateral Instrument:
10 May

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Singapore International Chamber Of Commerce
6 Raffles Quay #10-01 Singapore 048580 | www.sicc.com.sg | [email protected]


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