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FY 2022/2023

BOARD OF GOVERNORS CHIEF OF DEFENCE FORCE

VADM AARON BENG YEO CHENG

CHIEF OF ARMY

MG NEO CHIN WEE DAVID

CHIEF OF NAVY

RADM SEAN WAT JIANWEN

CHIEF OF AIR FORCE

MG KELVIN KHONG BOON LEONG

DIRECTOR, MILITARY INTELLIGENCE

MG LEE YI-JIN

CHIEF OF STAFF, JOINT STAFF

BG CHOO WEI YEE, FREDERICK

HEAD, AIR ENGINEERING & LOGISTICS DEPT/ CHAIRMAN MC SEMBAWANG COUNTRY CLUB

BG TENG CHOON HON, ADRIAN

COMMANDANT, SAFTI MI / CHAIRMAN MC TEMASEK CLUB

BG TAN TIONG KEAT

COMMANDER MSTF / MARSEC COMMAND / CHAIRMAN MC SAF YACHT CLUB

RADM LIM KIAN HUA AUGUSTINE

COMMANDER, 9TH DIVISION / CHIEF INFANTRY OFFICER / CHAIRMAN MC THE CHEVRONS

COL WONG SHI MING

DIRECTOR, LEGAL SERVICES

MR LEONG KWANG IAN

DIRECTOR, DEFENCE FINANCE

MR NG KIN YI

DIRECTOR, MANPOWER

MR HO CHIN NING

HEAD, JOINT LOGISTICS DEPARTMENT

ME7 SREEKANTH SHANKAR

HEAD, JOINT MANPOWER DEPARTMENT

COL PEH CHIN LEONG, JOSEPH

HEAD, JOINT PLANS AND TRANSFORMATION DEPARTMENT

COL CHONG SHI HAO

MANAGEMENT COMMITTEE

MANAGEMENT COMMITTEE 16 14 VICE COMMODORE COL Justiin Ang

COMMODORE RADM Augustine Lim

REAR COMMODORE COL Loh Woon Liang

HONORARY SECRETARY LTC Allan Ng

ASST HONORARY HONORARY TREASURER SECRETARY ME6 Willis Tarn Mr Toh Choon Chwee Edmund

ASST HONORARY TREASURER Ms Luanne Tan

CAPTAIN OF SAIL Mr Ken Yap

CAPTAIN OF POWER Mr Eugene Wong

HON. LEGAL ADVISOR COMMITTEE MEMBER Mr Nicholas Cheong Mr Eric Emmanuel Tan

COMMITTEE MEMBER Mr James Teo

COMMITTEE MEMBER Mr Gerald Heng

COMMITTEE MEMBER Mr Jaya Sankaran

COMMITTEE MEMBER Ms Isabelle Wong

COMMITTEE MEMBER Mr Alan Pang

CO-OPTED MEMBER Mr Ooi Yinn Yeong

CO-OPTED MEMBER Mr Jason Chong

CO-OPTED MEMBER ME6 Ong Teck Lim

CO-OPTED MEMBER Mr Ian Chua

CO-OPTED MEMBER ME6 Tan Lu Pin

CO-OPTED MEMBER MAJ (NS) Ng Shi Yang

CO-OPTED MEMBER LTC Alvin Tan

CONTENTS COMMODORE’S MESSAGE ……………………………....…………………............................................................………………………………. 1 CLUB MANAGEMENT REPORT………………………………............................................................………………….................................3 CAPTAIN OF SAIL REPORT………………………………......................................................................................................…………………5 CAPTAIN OF POWER REPORT……………………......................................................................…………………....................................9 HONORARY TREASURER FINANCIAL REPORT…………………………..............................................................…………………11 AUDITED FINANCIAL STATEMENTS & OTHER FINANCIAL INFORMATION…………………………..........................13 MINUTES OF ANNUAL GENERAL MEETING 2022………………………...........................................................…………………49 BYE-LAWS………………………….……………....……………………………….............................................………………………………..APPENDIX 1 CONSTITUTION……………………………………..……………............................................................…………………………………APPENDIX 2

COMMODORE'S MESSAGE Dear Valued Members, I am honoured to be addressing all of you as the Commodore of our esteemed Club, and to have this opportunity to serve alongside my colleagues to foster our nautical community at SAF Yacht Club. The Club started FY22 on sturdy footing, capitalising on our refurbished Clubhouse and new offerings, as we emerge from COVID-19. I would like to take this opportunity to outline some achievements and areas that we are working on: •

The Club’s financial standing continues to be healthy. We ended FY22/23 with a 21% growth

in revenue, and a strong balance book. This was due to healthy Membership subscriptions, pickup in private events, and strong support for our Seasports courses and Marina offerings. Looking ahead, we will continue to strengthen our revenue streams while keeping a close watch on the expected challenges. We will also proactively and holistically address rising costs and continue to manage our finances prudently. •

Beyond fiscal numbers, we have continued to strengthen our position and offerings in

Seasports and Boating. The Club hosted the Sing-Siam Regatta in April 2023. This demonstrated our ability to organise world-class Regattas and provide our sailors the opportunity to bond with regional counterparts. We also resumed our signature event Carnival by the Straits in June 2023, which saw a lively gathering of Members, families, and friends. The carnival also included a workshop by President of the Singapore Power Boat Association, CAPT William Francis, where Members exchanged best boating practices and their passage experiences. •

We are also constantly finetuning the Club to enhance the nautical experience for our

Members. We made several improvements to the Member’s Lounge with additions such as a heritage corner, a coffee machine, and a pool table. The Club also purchased new optimist and ILCA boats that Members can charter come December 2023. We can also look forward to more convenience in January 2024, with the online Member’s portal to book courses and activities, and make payments at the click of a button. •

We have also made progress with Green Initiatives that underpin our drive for longer term

sustainability. The Club has completed the installation of solar panels and we will soon be able to harvest our own power. We are also working towards Green-Mark Certification to raise our sustainability standards. Going forward, we will continue to invest and develop new initiatives to ANNUAL REPORT 2023| 1

advance our sustainability goals and our support for eco-friendliness. Overall, we fared well despite challenges. This was only possible with the dedication of the Management Committee and Management Team, as well as the unwavering trust and support of all our Members. I am excited about the future, and my team and I are committed to deliver on the key objectives for FY23 and beyond. In closing, I thought it befitting to pay a heartfelt tribute to our ex-Commodore VADM Aaron Beng. We all stand on the shoulders of giants that came before us. VADM Beng’s stewardship saw us through unprecedented times marked by a global health crisis. His dedication and passion for the Club had set us on a firm and sound trajectory. It was indeed a privilege to have worked alongside him. Once again, I thank one and all for your steadfast support, and I wish everyone a fulfilling year ahead! RADM Augustine Lim Commodore

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CLUB MANAGEMENT REPORT As we reflect upon the past year and chart the course ahead, it's essential to acknowledge the progress made since last year's report. We have witnessed growth, innovation, and the unwavering commitment of our Members and staff to enhance our Club's offerings and services. Seasports and Power Boating Throughout the year 2022 and 2023, our Club achieved a series of remarkable milestones in our pursuit of excellence in sailing activities. In November 2022, we proudly led a team of 26 sailors to the Sing Siam Regatta 2022 in Sattahip, showcasing our commitment to sailing. In August 2023, we continued to extend our presence on the international stage by leading a team of 5 sailors to the Friendship Regatta in Fukuoka, followed by another triumph at the Qingdao International Youth Regatta with a team of 8 sailors. These international endeavors underline our dedication to promoting the sport of sailing and fostering global connections. Furthermore, our successful hosting of the Thai sailors at the Sing-Siam Regatta 2023 marked a pivotal moment in international collaboration, reinforcing our position as a key player in the sailing community. On the boating front, we rekindled the camaraderie among our boating enthusiasts by reinstating the Boaters' outing in May, offering Members a delightful lunch at Kelong and further strengthening the bonds within our Club. Exciting developments in our infrastructure include the acquisition of new power boats and a modern tractor for safe and efficient launching and recovery services. These enhancements will be operational from December 2023, significantly augmenting our boating offerings and ensuring a more seamless experience for our Members. Membership Services A steady influx of new Members has invigorated our Club community, introducing fresh faces and perspectives into our fold. Simultaneously, we have taken proactive measures to expand our Club's presence, employing roadshows and other strategic exposure initiatives to make our mark within the local community. Moreover, we've invested in the improvement of our facilities, introducing new amenities such as a coffee machine, a recreational corner complete with a pool table for our Members' leisure, and the implementation of digital access to the Member's Lounge. These upgrades are designed to elevate the exclusive experience we provide to our esteemed Members and further reinforce our commitment to providing a vibrant and enriching Club environment. Social Events and MICE Experiences Our Club remains dedicated to cultivating a vibrant social community, as evidenced by a series of recent initiatives. In January, we successfully hosted a memorable Chinese New Year Dinner, a

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delightful event that celebrated traditions and fostered unity within our community. The pride of our social calendar, the CBTS event in June, once again garnered an impressive turnout, reaffirming its status as a beloved and eagerly anticipated occasion. Additionally, our Members Get Together, a bi-monthly gathering, continued to serve as a valuable platform for our regular Members to share feedback, a gesture that we deeply appreciate. The Club introduced a new F&B outlet-Kin Kao Mai and prawning/fishing facilities-Gills Fishing. Both are in operation since August 2023 and October 2023 respectively. In the 1st quarter of 2024, there will also be a new F&B outlet – Nanyang Seafood offering Halal selections. These initiatives underscore our dedication to fostering a strong sense of community, a shared spirit of celebration, and a commitment to providing our Members with a diverse range of enjoyable experiences at our Club. Conclusion Looking ahead, we can expect the opening of another F&B outlet,'Nanyang Seafood'. This exciting addition will provide more food options and is set to elevate the dining experience for our Members. The Management strives to keep the Club at the forefront and we will continue to address the interests and needs of all areas of the Club operations and activities. We express our heartfelt gratitude to our Members, whose continued support and enthusiasm drive us to strive for excellence. We would also like to thank the Management Committee and the various Sub-Committees for their valuable contributions and guidance. Together, we will embrace the opportunities of the coming year and continue to enhance the Club's vibrancy and appeal. Thank you everyone for being an integral part of our community. Mr Teo Wee Chin General Manager

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CAPTAIN OF SAIL REPORT Mr Yap Kok Ken Mr Chow Yan Biau Mr Low Weng Kong Mr Yuen Weng Thye Mr Cao Yueming Mr Nicholas Cheong Mr Kuah En Shyang

Sailing Sub-Committee Captain of Sail Deputy Captain of Sail Committee Member Committee Member Committee Member Committee Member Committee Member

GET KIDS AFLOAT (GKA) The Get Kids Afloat (GKA) program stands as a highly sought-after course that serves as our gateway for sailors to join our sailing programme.. It received a total of 188 young participants over 12 batches. 21.3% were family of Members, while 78.7% were non-Member registrations. The GKA program carries the promise of nurturing the next generation of national sailors, following in the footsteps of the champions we have produced in the past BASIC SAILING COURSE The Club has conducted 16 Basic Sailing Courses (non RSN), where 154 participants learnt the basics of sailing. 13.6% of the participants were Members, and 86.4% of the participants were nonMembers. SAILING LEVEL 1 COURSE A total of 13 Sailing Level 1 Clinics (non RSN) were conducted which saw 129 participants obtaining their Sailing Level 1 proficiency.18.6% of the participants were Members, and 81.4% of the participants were non-Members. COMPETENT CREW COURSE The Competent Crew Course introduces keelboat sailing and the basics of spinnaker work to the participants. A total of 6 courses were conducted with 33 participants completing the 3-day course. Out of which, 12.1% of the participants were Members, and 87.9% of the participants were nonMembers. 45TH SINGAPORE LASER OPEN The 45th Singapore Laser Open took place on December 3rd and 4th. The first day offered light winds that strengthened later, accompanied by a heavy downpour. The second day started late due to a Cat 1 delay in the morning and the event concluded with 5 races.

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RACE RESULT ILCA 7 (Masters)

ILCA 6 (Open)

1st Andrew Crombie

1st Lo Tian Walker John 2nd Javier Ong

ILCA 7 (Open)

3rd Meghan Tan Min Yee

1st Andrew Crombie 2nd Vincze Balazs

ILCA 4 (Girls)

3rd Liu Qian

1st Hayley Fang 2nd Jade Low

ILCA 4 (Open)

3rd Danielle Lai

1st Asher-James Nair

4th Ling Jia En Abigail

2nd Samuel Tan-Hardy

5th Elizabeth Victoria Say

3rd Gordan Allan SAFYC REGATTA The 18th SAFYC Dinghy Regatta on April 2 & 3 featured 77 sailors across ILCA 7, ILCA 6, and ILCA 4 classes, with day 1 offering light rain and shifty winds. Day 2 saw more wind and choppy waters. The 18th SAFYC Optimist Regatta on April 9 & 10 had 161 eager sailors, with slow wind build-up and a mix of cloudy and sunny conditions, but they delivered impressive races.

RACE RESULT Dinghy ILCA 7

ILCA 4

1st Lee Wonn Kye

1st Issac Goh

2nd Akos Rigo

2nd Ethan Teo

3rd Balazs Vincze

3rd Keira Marie Carlyle

4th Favaro Thomas

4th Muhammad Raihan Bin Mohd Airudin

5th Stanley Yong

5th Nadine Sng

ILCA 6 1st Jania Ang 2nd Zachary Khoo 3rd Darius Lee 4th Keenan Cheung 5th Alezandro Montanari

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Optimist Gold Fleet Overall

Silver Fleet Overall

1st Amos Tham

1st Tong Xuan Ya

2nd Ethan Chia Han Wei

2nd Wong Kai Lun

3rd Mikaela Rae Ng

3rd Alyssa Wong Li Lin

4th Yap Swee Dean

4th Tan Herng Yee

5th Pee Teck Woon

5th Nicholas Ng

Thank you to all the sailors who participated and congratulations to all winners. Bi-Monthly Trophy Race The Bi-Monthly Trophy race is a 6-series Regatta spread across the year with a low-point scoring system and one discard. In the 2023 BTR, 8 boats participated and the current leaders are Millenium 2, Premium Cru, and Picanini ranking from 1st to 3rd places respectively. Overseas Regattas After a 2-year hiatus due to COVID-19, the Club participated in the Sing Siam Regatta held on November 26th-27th in Sattahip, Thailand. On November 26th, the team racing kicked off with 2 teams each for ILCA 7 and Optimist classes, featuring a mix of Thai and Singaporean sailors. The Club's delegation returned to Singapore on November 30th, marking the return of an annual event shared with the Royal Thai Navy and SAF Yacht Club. ILCA 7 Class Team Elephant

Team Lion

PO1. Prakasit Hongpredab

Jared Lee Buckalew

PO1. Chairat Dangdeemark

Joshua Cheong

PO1. Apiwat Sringam

Lim yi Xuan

Seah Wei Jun Clive

ADM. Manat Thongjiam

Chow Yi Jun, Ian

Kanapan Pachatikpan

Optimist Class Team Elephant

Team Lion

Paphawin Kor-Asawakovit

Josh Low

Pumitut Meeiamsin

Callum Wong Joon Thang

Thitiworda Johnjaitrong

Low Xi En Jaye

Auson Leow Xiang Rui

Tammachat Sriopas

Eunice Tan Yi Ning

Poramut Srisawaddisiodom

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Team Elephant won the team racing events for both ILCA 7 and Optimist Classes. After which, the fleet racing and passage race were conducted until 27th November. RACE RESULTS ILCA 4 (Masters)

ILCA 4 (Girls)

1st Joshua Cheong

1st Hayley Fang

2nd Jade Low

3rd Clive Seah

3rd Danielle Lai 4th Ling Jia En Abigail

ILCA 7 (Grand Master)

5th Elizabeth Victoria Say

1st Yeo Ngak Hoe 2nd CDR. Nitasana Rodnoun

Optimist (Open)

3rd Capt. Prayutt Jaibanjong

1st Tanvisit Kitchannasiri 2nd Surapa Maungngam

ILCA 7 (Master)

3rd Adison Ein

1st PO1. Prakasit Hongpradab

4th Tammachat Sriopas

2nd PO1. Chairat Dangdeemark

5th Paphawin Kor-Asawakovit

3rd Justiin Ang ILCA 7 (Open) 1st PO1. Apiwat Sringam 2nd PO1. Prakasit Hongpradab 3rd Ratthanan Rakmanee

Mr Yap Kok Ken Captain of Sail

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CAPTAIN OF POWER REPORT Mr Eugene Wong Mr Gerald Heng Mr Eric Emmanuel Tan Mr Edmund Toh Mr Jaya Sankaran Mr Alan Pang

Power Sub-Committee Captain of Power Deputy Captain of Power Committee Member Committee Member Committee Member Committee Member

The Powerboat Committee's main focus is as follows: 1.To promote power boating as a hobby, sport, or lifestyle pastime to both Members and the general public. 2.To conduct PPCDL courses to train boating enthusiasts to prepare for the PPCDL license. 3.To organize talks and workshops on topics related to boats and boating, such as outboard motors, engines, and boat hull maintenance. 4.To promote boating and fishing in and around Sembawang/Seletar/Punggol/Changi waters 5.To encourage Boat ownerships among Members and the general public. Powered Pleasure Craft Driver’s License (PPCDL) Courses SAFYC remains the premier training center for the Powered Pleasure Craft Driver's License (PPCDL) course in Singapore. The Powerboat committee has consistently ensured the highest training quality through our instructors to maintain the Club's reputation. We have conducted a total of 35 PPCDL course this FY with a total of 458 trainees. All the PPCDL instructors in CSAFYC are accredited by MPA to conduct PPCDL lessons, and positive feedbacks from our PPCDL trainees have always been the main source of publicity for our strength in this area. The high passing rate and consistent referrals are testimonies to the professionalism and enthusiasm of both the instructors and staff of the Club. The Powerboat Committee wishes to express our gratitude to all our instructors for their unrelenting dedication, professionalism and unwavering support to conduct PPCDL lessons. Fishing Competition The fishing competition is scheduled for November/December 2023.This year, the competition will be held in conjunction with the prawning and fishing facilities located at the Club. The aim is also to promote additional activities at the Club. Boating Workshop As part of the Carnival By the Straits held on June 10, 2023, the Powered Boat Sub-committee ANNUAL REPORT 2023| 9

organized a boating workshop for that day. CAPT William Francis, the Chairman of the Singapore Powered Boat Committee, was invited to speak. CAPT William covered many interesting topics, including boat maintenance and sea passages in and around Singapore and neighboring countries. The workshop received a positive reception, and the Sub-Committee intends to invite CAPT William back for another sharing session next year. Kelong Lunch (Smith Marine Kelong off Pu Ubin) Two Kelong lunches were organized for this fiscal year. The first was held on January 7th as a farewell lunch for the former Commodore, RADM Aaron Beng. The Management Committee Members attended this lunch. The second Kelong lunch was held on May 27th for SAFYC Members and their guests, with a total of 10 participants in attendance. The Powered Boat Sub-Committee would like to express its gratitude to Kairos Strategic P/L and BearBoat Charter P/L for generously providing the use of their boats for these events. Conclusion No overseas cruises to Batam were conducted in this fiscal year. When the border reopened in April 2022, most boat owners with internationally flagged boats faced expiration issues, thus they could not sail overseas. Additionally, the ICA (Immigration and Checkpoints Authority) has revised its port and immigration clearance protocols, making it more onerous and costly which has discouraged our Boaters from traveling overseas. Instead, we had seen more boating activities around our Sembawang/Seletar/Punggol/Changi waters by our Boaters as seen by the higher rates of launching and recovering of boats In the coming year, the Powerboat committee will continue to create more boating vibes by leveraging on common interests of our Boaters to develop other activities of interests. We invite all SAFYC Boaters and Members to provide their suggestions so that the Powerboat Committee can enhance community engagement. I would like to formally appreciate the support from all Members, MC and staff of the Club, and we endeavor to serve you better in the upcoming term. Also, a big thank you to Allan Mok, our Marina Manager and his Marina team for their unwavering strong support to our Boaters, all Powerboat Committee Members, Gerald, Alan, Eric, Edmund, Jaya, for their active participation as well as contribution in time, resources and efforts. Mr Eugene Wong Captain of Power

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HONORARY TREASURER FINANCIAL REPORT Finance Sub-Committee ME6 Willis Tarn Rui Seng Chairman Ms. Luanne Tan Siok Choo Committee Member Mr. Ian Chua Cheng Yong

Committee Member

The financial year 2022/2023 has proven to be both eventful and profitable for the Club. There was a significant increase in operating revenues due to the post-COVID-19 pandemic situation, with the relaxation of all COVID protocols. With the operationalization of the new Clubhouse facilities and amenities, we have indeed seen an improvement in our revenue streams from higher Membership sign-ups, full tenancy capacity and a higher number of private/corporate events held at our Club. Income from Marina and Boat Storage was doing well with more than 80% berth-occupancy; the new Marina Wet Berth Expansion provides additional berthing lots to cater to the new-arrival Boaters during the year. The support-tasking services and boat-chartering to SembCorp in FY2223 had contributed significantly to the Marina income. Take up rates for our Seasports courses and training programs escalated during the year even though slightly below our budget expectation for FY2223. As the Covid-19 pandemic ended, there was lesser government support grants given during the year however; therefore resulting in a lower Other Income. The upswing in revenues during FY2223 far outweighed the increase in expenditures, and the Club managed to register a healthy increase of S$717k in income and achieved a net cash profit of S$641k (after tax) before depreciation and amortization FINANCIAL PERFORMANCE FY 22/23 For the financial year ending on 31 Mar 2023, the Club’s gross income and expenditure were S$4,115,254 and S$3,419,219 respectively. Considering depreciation and amortization, the Club registered a net operating surplus of S$373,837 The Club saw an increase in revenue by 21% over last FY. The breakdown of the changes in the Club’s key revenue items are as follows: •

Memberships and Events increased by 40%

•

Marina and Boat Storage increased by 36%

•

Tenants Income increased by 25%

•

Seasports & activities decreased very slightly only by 0.06%

For expenditure, there was an increase in 21% over last FY due to the higher operating cost in tandem with the significant increased activities. Operating cost increases came mainly from Events costs and utilities, Seasports related expenses and Marina related expenses (predominantly petrol ANNUAL REPORT 2023| 11

and diesel). LOOKING AHEAD In the year ahead, the Club will continue to face challenging business conditions due to the bleak economic outlook, evergreen competition from the other yacht clubs and social service clubs as well as rising business costs. However, the Club will continue to evolve by tapping on new channels and resources to improve our existing business models and enhance our revenue streams, while continually operating our businesses in a cost-effective manner. The Club will also continue to embark on capital investments in the Club facilities from time-to-time to ensure that Members enjoy high quality facilities and services at reasonable rates. Moving forward, it is vital that the Management team and Members of the Club continue to strengthen our symbiotic relationship and co-operate to promote the Club, attract new Members and participate actively in the Club’s activities. Together, we can continue to project the SAF Yacht Club as a quality sailing and yachting Club in Singapore. ME6 Willis Tarn Rui Seng Honorary Treasurer

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AUDITED FINANCIAL STATEMENTS & OTHER FINANCIAL INFORMATION

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MINUTES OF THE ANNUAL GENERAL MEETING 2022

MINUTES OF ANNUAL GENERAL MEETING 2022 HELD ON 29 OCTOBER 2022 AT 1430HRS

Present RADM Aaron Beng

Commodore

COL Justiin Ang

Vice Commodore

COL Loh Woon Liang

Rear Commodore

LTC Allan Ng

Honorary Secretary

ME6 Willis Tarn

Honorary Treasurer

Ms Luanne Tan

Assistant Honorary Treasurer

Mr Ken Yap

Captain of Sail (COS)

15 Ordinary Members

Member

Item

Discussion

Introduction

1.1

After two adjournments, Honorary Secretary called the meeting to order at 1430hrs with 15 Ordinary Members present to form the quorum

1.2

Commodore RADM Aaron Beng thanked Members who supported the Club despite the COVID-19 restriction for the last FY. He also thanked the Management Committee and Management Team for the contributions made in FY21/22. Despite the challenges that COVID-19 posed, the Club’s Membership continued to grow and there were strong demands for Seasports courses. The Management Committee is pleased to inform Members of the successful Marina upgrading works and is positively looking towards the FY with proposed upgrades to the Club infrastructure.

Confirmation on minutes of the 52nd AGM

2.1

The minutes of the AGM 2021 held on 13 Nov 2021 were confirmed without amendments.

FY2021/2022 Financial Report

3.1

Honorary Treasurer presented the Financial Report for FY21/22, which was part of the Annual Report

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3.2

He reported that for FY21/22, the Club registered an increase in net cash profit of $258K, after considering depreciation and amortization. On income generation, with the operationalisation of the new Club house facilities, the Club witnessed strong increase in revenue streams arising from higher Membership sign-ups, high tenancy occupancy and higher take-up rates for Seasports courses. On expenditures, the Club registered a slight decrease vis-a-vis budgeted. This is due to lesser events conducted in view of existing COVID safe management measures over the FY.

3.3

Treasurer reported that the financial summary had been prepared based on audited statement of income and expenditures and the audited balance sheet for financial year ending 31 Mar 2022 was audited by PG Wee Partnership LLP.

Achievements of the past year

4.1

Vibrant Club. Honorary Secretary shared the events overview for FY 21/22. A total of 53 private events (wedding/seminar/team building) were held. There were also 3 social events and 1 MINDEF events conducted.

4.2

Leader in Seasports Excellence - Honorary Secretary provided the number of Seasports courses and sailing Regatta conducted and shared the excellent performance of SAFYC sailors during these Regattas. He also shared the bi monthly Trophy race and Horsburgh Challenges sailing Regatta which saw good participation from the Club Members.

4.3

Unparalleled Nautical Experience (Improving our space) Rear Commodore provided an update to the Marina expansion and improvement works. He recapped the Phases of works involved and informed that works had been completed in August 2022. The expansion included 19 new berths and improvement works included new decking for the entire Marina, new water/ electrical pedestals, new dock box and lightning Warning System being installed. There are a total of 64 berths available for Members to berth including longer fingers to accommodate boats up to 40ft.

4.4

He also shared the capital investments and facilities improvements for this FY. This included redevelopment of Cub house, change to ERP system, purchase of equipment, furniture, laser dinghies, powerboat engines and sailboat accessories

Looking Ahead to FY2022/23

5.1

Honorary Secretary shared that various events line-up for the upcoming FY. Beside the sailing Regatta and Bi-Monthly Trophy Race, the Club's signature event - Carnival by the Straits will be held on 10 December 2022. He encouraged all Members to participate in this event with their family and loved ones. Prawning/Fishing Facilities - Rear Commodore shared a video presentation on the proposed prawning/fishing facilities. He informed that an operator had been selected and construction works will begin in the months of Nov 2022 for a duration of 4 months. The operator is expected to commence operation by end Mar/Apr 2023. Members can look forward to such activities at the Club. Solar Panels System - Rear Commodore shared that for this FY, the Club will embark on installation of solar panel system. This is part of the Club initiatives to “Go Green” and also reduce electricity cost.

5.2

5.3

5.4

Honorary Secretary also shared that the Club will be holding the Member’s Get Together once every 2 months and urged all Members to participate.

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Any other matters

6.1

By Member – Mr Lim King Loong, L094 Mr Lim raised the following matters: A. The current barrier at the slipway is “not professional” looking and proposed the Club to look into this matter B. He proposed the Club to use social media actively to inform Members of happenings in the Club. C. He sought clarification on the where-abouts of the ship bells that he and a few sailing Boaters donated to the Club many years ago. D. He proposed the Club put up more nautical theme posters around the Club to make Members/guests feel that it is a Yacht Club. E. He inquired if part of the Marina maintenance included scrapping of barnacles on the piles. The Club thanked Mr Lim for his feedback and replied on the following: A. The Club will source for an alternative to barricade the slipway in place of the current arrangement of using lines. B. GM replied that at present, Club uses Facebook, Instagram & Telegram to communicate with Members. He urged Members to download Telegram and add SAFYC to receive updates of Club happening. C. GM informed the bells are kept during the redevelopment works and it would be “bright-works” before it is displayed. D. Commodore informed that as part of the redevelopment works, there was a study previously conducted for a suitable location of a heritage corner. Back then, Management Committee opined that as the Club was undergoing redevelopment works, the heritage corner should be postponed upon completion of the redevelopment works. Now that it has been completed, the Management Committee should revisit this. E. Mr Allan Mok - Senior Manager Marina, informed that he will include this as part of the twice monthly maintenance schedule for the Marina and allocate time for the scrapping of barnacles when required.

6.2

By Member – Mr. Jared Wong, W050 Mr Wong raised the following matters: A. The existing barrier and boom at the seafront is unsightly and not “professional looking” B. Mr Wong opined that the current vision statement may not be relevant and for the Club to review it. He added that the Club should provide a better experience for Members. C. Mr Wong shared that the current 2 F&B operators food pricing is way too high and the Club should take action. D. Mr Wong opined that the swimming pool should not be closed to the Members for events. The Club thanked Mr Wong for his feedback and replied the following: A. The booms placed at the seafront is to keep out gashes from landing onto the beachfront of the Club. As there is also a need for sailors to launch/recovery their sailing dinghies from the Club, the barrier is installed such that they can be easily removed. The presence of rich minerals in the water also resulted in faster wear and tear of the booms installed. Nevertheless, the Club will explore and study for more permanent and durable booms. B. GM informed that the vision statement has recently been reviewed by the Management Team. He explained how the Vision Statement targets the 4 markets segment which are the Boating Members, Sailing Members, Recreational Members as well as non- Members. Commodore commented that more can be done for the Recreational Members and the Club could explore initiatives to engage this group of Members. Vice Commodore retaliated that in view of the COVID situation over the past 2 years, the Club had seen events cancelled as there was little or low participation rate for such events

ANNUAL REPORT 2023| 51

C. GM informed that the rental of the F&B operators is not determined by the Club and operators provided their own pricing strategy when they bid for the premises and the Club choose the best operator in terms of rental income and variety of food offered. Commodore also informed that one of the vendors withdrew from the Club over the past year and this had resulted in less options for Members. He welcomed Members to share feedback for potential F&B operators who wish to operate in the Club and requested to keep the Management team informed. D. GM informed that the Club needs to be seen as friendly and financially sustainable regardless of whether it is for swimming pool, pool side lounge or private rooms rental to Members/ guests. He informed that there were only 5 occasions for last FY whereby the swimming pool was closed for private events. Commodore shared that the usage of the swimming pool is not high and therefore Management Committee had given permission to Management Team to offer this premise for revenue generation especially during non-peak period. Should there be an increased in usage of the swimming pool by Members, Management Committee is prepared to relook into this area 6.3

There were no further questions from the floor.

Management Committee 2020/2021

7.1

Honorary Secretary informed Members present that at the closing date for nominations of MC Members, only six nominations were received. Hence, no election was required. The six newly elected Members to the Management Committee 21/22 were:

S/N

52 | ANNUAL REPORT 2023

Candidate

Mr Jaya Sankaran

Mr Tan Hai Peng, Eric Emmanuel

Mr Gerald Heng

Mr James Teo

Mr Alan Pang

Ms Isabelle Wong

7.2

Honorary Secretary announced the office-bearers appointed and approved by the Board of Governors for Term 22/23:

S/N

7.3

Title of Office

Commodore

RADM

Management Committee 2021/22 Aaron Beng Yao Cheng

Vice Commodore

COL

Justiin Ang

Rear Commodore

COL

Loh Woon Liang

Honorary Secretary

LTC

Allan Ng

Asst. Honorary Secretary

Edmund Toh

Honorary Treasurer

ME6

Willis Tarn

Asst. Honorary Treasurer

Luanne Tan

Captain of Power

Eugene Wong

Captain of Sail

Ken Yap

Honorary Secretary informed Members present that eight people would be co-opted to support the Management Committee 22/23.

S/N

7.4

Candidate

Mr Jason Chong

Infrastructure

Mr Ooi Yinn Yeong

Finance & Audit

MAJ Eileen Sow Yi Ling

Recruitment

Mr Ian Chua

Finance and Audit

ME6 Ong Teck Lim

Engagement

ME6 Tan Lu Pin

Governance

MAJ (NS) Ng shi Yang

Legal

Mr Nicholas Cheong

Honorary Legal Advisor

Commodore announced the departure of the following committee and thanked them for their services and valuable contributions.

S/N

Sal.

Title of Office

Name

Years served on Committee

MC Member

MAJ Chris Soh

8 years

MC Member

Mr Cao Yue Ming

1 year

End of Meeting

ANNUAL REPORT 2023| 53

In closing, Honorary Secretary thanked all Members present for their attendance. With no further matters, the AGM 2022 was adjourned at 1600hrs.

LTC Allan Ng Honorary Secretary, SAFYC Approved by: RADM Aaron Beng, Commodore SAFYC