SFIC Spearheads First Overseas Deal-seeking Initiative for the Singapore Furniture Industry
On 25 February 2015, SFIC celebrated the Year of the Goat over a sumptuous lunch with over 250 members, business associates and agencies.
(Editor: Leona)
On 25 February 2015, SFIC celebrated the Year of the Goat over a sumptuous lunch with over 250 members, business associates and agencies. We also kick-start the new year with a brand new collaboration which marked another milestone for the industry, in the presence of Mr Teo Ser Luck, Minster of State for Trade and Industry.
In conjunction with the luncheon, SFIC also announced the first association-led engagement of in-market consultants to help Singapore furniture industry companies seek deals in overseas markets. Tapping into the Local Enterprise and Association Development (LEAD) Programme run by International Enterprise (IE) Singapore and SPRING Singapore, nine furniture companies pledged their commitment to the programme and officiated the collaboration in a MOU Signing Ceremony, in the presence of Mr Teo and Mr Koh.
From left to right: Mr Mark Yong, Marketing Director of Ewins Pte Ltd; Ms Lina Sugianto, Finance Manager of Ivena International Pte Ltd; Mr Steven Chew, Deputy CEO of Sitra Holdings (International) Limited; Mr Quah Soon Chow, Deputy Chairman of Getz Bros & Co (S) Pte Ltd; Mr Teo Ser Luck, Minister of State for Trade and Industry; Mr Ernie Koh, President of SFIC; Mr Larry Goh, Managing Director of TraDesk Pte Ltd; Mr Randy Lim, Business Development Manager of FAM Solutions Pte Ltd; Mr Simon Kong, Export Manager of Univonna Pte Ltd and Mr Kenny Koh, Group Managing Director of Star Furniture Pte Ltd.
Mr Lee Yee Fung, Group Director for Lifestyle Business, IE Singapore, said, “Increasingly, SMEs are recognising the need to grow or scale up their business by going overseas. Many have the desire but need some assistance in terms of navigating the markets and identifying the right projects or partners. With our LEAD Programme, SFIC can now engage in-market consultants with strong networks to help its member companies increase their success rate in securing projects and deals in new markets. SFIC has also gone a step further by grouping furniture companies together and committing to a three-year initiative for this.”
The participating companies were placed into three groups - Home Living, Building & Materials, and Office Furniture – each with three SMEs that complement one another in terms of product offerings. The companies are:
Home Living Group (Target market: Europe)
•Ivena International Pte Ltd
•Star Furniture Pte Ltd
•Univonna Pte Ltd
Building & Materials Group (Target market: The Philippines)
•Ewins Pte Ltd
•Getz Bros & Co (S) Pte Ltd
•Sitra Holdings (International) Limited
On the motivation behind this collaboration, Mr Koh said, “In order for the Singapore furniture industry to deepen its footprint on the global map, local enterprises must adjust their mindset and reinvent their business models, by taking the 3i Approach – Improve, Innovate, and Integrate. This is what we hope to achieve through the LEAD Programme, by facilitating strategic partnerships between industry players. Such business transitions are never easy and we are very encouraged by our local players’ willingness to step out of their comfort zone and to embark on this exciting initiative with us.”
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