ANNUALREPORT SINGAPORE RECREATION CLUB

Transcription

1 ANNUALREPORT SINGAPORE RECREATION CLUB 2018

2 CONTENTS 1 President s Message 4 Management Information 6 Sub-Committees and Section Committees 19 Finance Member s Message 21 Financial Statements

3 PRESIDENT S MESSAGE Dear Members Land Lease Extension Negotiations The time has come for us to commence our negotiations with the Singapore Land Authority (SLA) over the extension of our lease. Questions have been raised by many members and potential members over our continued existence on this historical ground. The Urban Redevelopment Authority s 2014 Master Plan for the Downtown Core/City Hall planning area shows the land area occupied by the Singapore Recreation Club as under sports and recreation use. A real estate advisory company will be hired to assist the Club in land and building valuation for the lease negotiations. Our intent is to show SLA that we deserve to continue to exist on the Padang and that we will be able to finance the lease. This is why there has been a consistent effort over the past five years to maintain and upgrade the Clubhouse, a push towards making sports accessible for members, and sharing our grounds with the community through projects with partners such as SportSG and the Central Singapore Community Development Council. The Club also accepted a partnership invitation from the People s Association to field a contingent for the Chingay Parade More than ever, with our sports and social section committees and other sub-committees, the Club has been on a path to rejuvenate itself in terms of facilities and inject vibrancy through programming in all areas, be they in sports, social or F&B. A task force has been working behind the scenes to put together documents for our lease extension bid, and a business plan for raising capital when the lease extension is approved. The Management Committee and I are optimistic that we will be able to give an answer to members before the end of ANNUAL REPORT

4 Banquet Sales for FY2018 In 2018, the Club continued to prioritise maximising banquet revenue to compensate for the reduced takings from the jackpot room due to regulatory changes. Our Banquet sales for the year stood at $1,570,248 inclusive of banqueting events at Lounge 1883 and on the 3 rd storey. For the six-month operating period from July to December 2018, the banqueting events on the third storey generated sales of $561,591 and a gross profit of $347,034 (62%). With the halal kitchen, we have been able to fulfil government events and other events with halal requirements. Clients have been giving our new facilities a stamp of approval there have been a fair share of meetings, seminars, weddings, parties and functions held to date. The focus on banquet sales will continue in 2019, especially with the anticipated drop in Padang rental income. The National Day Parade will be held at the Padang in conjunction with the Singapore Bicentennial celebrations, with our grounds ceded to the National Day Parade organising committee from March to August. This is followed by Singapore GP s use of the grounds for the Formula 1 Singapore Airlines Singapore Grand Prix. 3 rd Storey Additions and Alterations & 1 st Storey Regularisation Works We completed our additions and alterations (A&A) to the 3 rd storey of the Clubhouse and regularisation works for Padang Terrace located on the 1 st storey of the Clubhouse and formally commenced operations from July. The resolution passed at the 128 th Annual General Meeting authorised the Management Committee to expend funds up to a maximum sum of $2,700,000 ($2.7mil). A report will be given in due course on the expenses incurred for this project. 2 ANNUAL REPORT 2018

5 DHL Asia Cup 2018 Our corporate client, DHL Asia returned to the Padang to hold its Asia Cup from August 4 to August 5, an event that catered for over 1,200 attendees. The hard work of the F&B department yielded even better results than in FY2017: FY2018 FY2017 Total Sales $333,800 $252,300 Cost of Sales $88,200 (26%) $92,600 (37%) Gross Profit $245,600 (74%) $159,700 (63%) Padang rental rates remained the same at $88,000. Sporting Achievements in 2018 Our 8 sports sections continued to fly our flag high in the areas of snooker, bowling, cricket, golf, hockey, netball and softball. Notably, we were the runners-up for the 19th Youth Bowling Inter-Club In cricket, we were the 1 st runnerup for Singapore Cricket Association League 2018 Premier Division and Division 1 and champions for Division 3. The men s hockey team were the Singapore Hockey National Hockey League 2018 Junior Division 2 and League 2 champions, and runner-up for League 3. Our ladies were the 1 st runner-up for the Singapore Baseball and Softball Association Women s Fastpitch League. Congratulations to all participants donning Club colours for the various competitions. Our Workforce We are moving towards streamlining operations and containing our labour costs due to service quota cuts and a reduction in wage rebates from the Government. We will continue to invest in staff programs and training to enhance service delivery to our members. We are also looking into automation wherever possible without compromising service standards. Grants will also help to defray some automation costs. The Excellent Service Award (EXSA) is a national award that recognises individuals who have delivered outstanding service. This year, we had a total of 23 winners: 3 Gold and 20 Silver. We are proud of all our staff who have received EXSA awards. Number of Management Committee Meetings For the year 2018, the MC held a total of 14 meetings. We thank you for your continued support of the Club and look forward to seeing you at the Club s Annual General Meeting on April 13, Dr Sarbjit Singh President Singapore Recreation Club ANNUAL REPORT

6 MANAGEMENTINFORMATION President Dr Sarbjit Singh Vice-President Mr Ronnie Chua Poh Teck Finance Member Mr Derrick Charles D Souza Games Control Board Chairman Mr Albert Teo Heng Kiat Management Committee Members Dr Christopher Chong Yew Luen Mr Robin Tan Boon Yong Mr Steven Yeo Peng Keng Mr William Loh Heng Hong Mr Allan Goh Eng Kim Mr Anil Murkoth Changaroth Mr Ryan Chin Kean Onn Mr Steven Goh Kim Soon General Manager / Secretary Mr Shareef Jaffar Registered Office B Connaught Drive Singapore Tel: Fax: src1883@src.org.sg Honorary Members Dr Tony Tan, former President, Republic of Singapore The Late Dr B H Sheares The Late Dr Wee Kim Wee The Late Mr Edwin Clement Tessensohn The Late Mr E W Barker The Late Mr Lee Kuan Yew The Late Mr S R Nathan The Late Prof E S Monteiro Life Presidents The Late Mr F A Milne The Late Mr Reggie John Tessensohn Patron Members The Late Mr Kumar Lal The Late Mr Kantilal J Shah The Late Mr Rajabali Jumabhoy The Late Mr Ronald Hubert Barth Auditor HLB Atrede LLP 20 Peck Seah Street #05-00 Singapore Principal Bankers CIMB Bank Berhad DBS Bank Ltd Maybank Singapore Limited Standard Chartered Bank 4 ANNUAL REPORT 2018

7 MANAGEMENT COMMITTEE DR SARBJIT SINGH President MR RONNIE CHUA POH TECK Vice-President MR DERRICK D SOUZA Finance Member MR ALBERT TEO HENG KIAT Games Control Board Chairman DR CHRISTOPHER CHONG YEW LUEN Management Committee Member MR ROBIN TAN BOON YONG Management Committee Member MR STEVEN YEO PENG KENG Management Committee Member MR WILLIAM LOH HENG HONG Management Committee Member MR ALLAN GOH ENG KIM Management Committee Member MR ANIL MURKOTH CHANGAROTH Management Committee Member MR RYAN CHIN KEAN ONN Management Committee Member STEVEN GOH KIM SOON Management Committee Member ANNUAL REPORT

8 SUB-COMMITTEES CHAIRMAN MR ANIL MURKOTH CHANGAROTH MS IRENE TAY KIAN LIAN ENTERTAINMENT MR MAXWELL NORBERT FERNANDO MS JOAN YEE VICE-CHAIRMAN MR ROBIN TAN BOON YONG MR ROGER TEO HOE BENG CHAIRMAN MR STEVEN YEO PENG KENG MR BENJAMIN ONG KOK CHYE FACILITIES & MAINTENANCE MR RONNIE CHUA POH TECK MR LEE AH POY VICE-CHAIRMAN MR LIM FATT SENG MR VICTOR LYE 6 ANNUAL REPORT 2018

9 SUB-COMMITTEES CHAIRMAN DR SARBJIT SINGH VICE-CHAIRMAN MR STEVEN YEO PENG KENG MR ALLAN GOH ENG KIM FOOD & BEVERAGE MR RAYMOND LIM TIAM TENG (PBM) MS JANET CHAN MS NORAINI LOI MR SUNDER RAMCHANDANI CHAIRMAN MR DERRICK CHARLES D SOUZA MR BENJAMIN ONG KOK CHYE FINANCE MR SALEEM AKHTAR MR DAVID TONG HOW HENG VICE-CHAIRMAN MR WILLIAM LOH HENG HONG MR SURESH AGARWAL ANNUAL REPORT

10 SUB-COMMITTEES CHAIRMAN MR ALBERT TEO HENG KIAT BILLIARDS CONVENOR DR HAN KIT KWONG VICE-CHAIRMAN MR RONNIE CHUA POH TECK SOCIAL SOCCER CONVENOR MR RANJIT SINGH GAMES CONTROL BOARD BOWLING CONVENOR MRS TANG WHAI YIH SOFTBALL CONVENOR MR MARCUS LEW CHENG CHYE GOLF CONVENOR MR NELSON YEO KIAN PENG CRICKET CONVENOR MR PAUL JOSEPH TENNIS CONVENOR MR PETER FOO SAY TUANG HOCKEY CONVENOR MR KELVIN LIM YONG SHENG 8 ANNUAL REPORT 2018

11 SUB-COMMITTEES CHAIRMAN DR CHRISTOPHER CHONG YEW LUEN HUMAN RESOURCE MR CHRIS GAY TEO POH MR VINCENT YUEN KOK WENG VICE-CHAIRMAN MR RONNIE CHUA POH TECK MR MANIMARAN PUSHPANATAN MR STEPHEN YEE FOOK KEONG MR NICHOLAS TEO EU JIN ANNUAL REPORT

12 SUB-COMMITTEES CHAIRMAN MR RYAN CHIN KEAN ONN VICE-CHAIRMAN DR SARBJIT SINGH INFORMATION TECHNOLOGY DR LAU CHIEW TONG MR SURESH AGARWAL DR FREDDIE LOW HOONG YUEN CHAIRMAN MR ALLAN GOH ENG KIM MR ERIC TAN HUAT LIM PUBLICATIONS MR NELSON YEO KIAN PENG MR MICHAEL LIEW SOON FOOK VICE-CHAIRMAN MR DERRICK CHARLES D SOUZA MR RAYMOND LIM TIAM TENG (PBM) 10 ANNUAL REPORT 2018

13 SUB-COMMITTEES CHAIRMAN MR WILLIAM LOH HENG HONG MR AMARJEET SINGH VICE-CHAIRMAN MR ANIL MURKOTH CHANGAROTH MR KULDIP SINGH S/O LATCHIMAN SINGH RULES & MEMBERSHIP MS CONSTANCE MARGREAT PAGLAR MR NG HOON HWEE MR JAGINDAR SINGH DR FREDDIE LOW HOONG YUEN MDM SHIRLEY LOURDES MR KERTAR SINGH S/O GULJAR SINGH ANNUAL REPORT

14 SUB-COMMITTEES CHAIRMAN MR RYAN CHIN KEAN ONN SECURITY CAPT FRANCIS KOH KHENG SENG MR R PRABU MENON VICE-CHAIRMAN MR STEVEN GOH KIM SOON MR KENNETH MAH CHERN FENG MR ROY S RAMACHANDARAN DR MATTHEW YAP CHOON PIAN 12 ANNUAL REPORT 2017

15 SUB-COMMITTEES CHAIRMAN MR ROBIN TAN BOON YONG VICE-CHAIRMAN MR ALLAN GOH ENG KIM BALUT CONVENOR & WOMEN S WING CHAIRPERSON MS YVONNE MARIE PEREIRA SOCIAL LINE DANCE CONVENOR MR KOH CHOON HWA BRIDGE CONVENOR MR CHUGH VIJAY THAKURDAS CHESS CONVENOR MR SUNDER RAMCHANDANI TOASTMASTERS PRESIDENT MS ROSALIND YIP DANCESPORT CONVENOR MR GILBERT HU TOH TECK ANNUAL REPORT

16 SECTION COMMITEES BALUT SECTION CONVENOR VICE-CONVENOR SECRETARY BILLIARDS SECTION CONVENOR VICE-CONVENOR CAPTAIN MEMBER MEMBER BOWLING SECTION CONVENOR VICE-CONVENOR MEMBERS BRIDGE SECTION CONVENOR VICE-CONVENOR TREASURER SECRETARY MEMBER CHESS SECTION CONVENOR CAPTAIN MEMBERS CRICKET SECTION CONVENOR VICE-CONVENOR MEMBERS YVONNE MARIE PEREIRA GERARD LEE LEONG JIN IRENE QUEK POH SUAN DR HAN KIT KWONG RONNIE WONG POH KOON SEAN KERWIN MATHEWS IKHLAQUE SHAIKH BRADLEY SCULLY GERARD TANG WHAI YIH SUSAN TAN S I LEE AH POY DUDLEY OLSEN ROGER TEO HOE BENG WINNIE LOO SOU LEONG CHUGH VIJAY THAKURDAS KRISHNAN VIJAYAN INDRU LACHMANDAS KHEMANY MICHAEL CHEN TIMOTHY TAY CHIN HEAN SUNDER RAMCHANDANI ANDREW EE CHONG NAM INDUBHAI BALUBHAI PATEL MATHAVAN KUNDAN THADHANI SHIVANDAS RAMCHAND VIJAYAKUMAR PAUL JOSEPH ALPHESH PUNA ANUJ BEHL MITHILA CHATHURANGA SENEWIRATHNE RAJAPAK REZZA GAZNAVI IRFAN MADAKIA SANDEEP PURI 14 ANNUAL REPORT 2018

17 DANCESPORT SECTION CONVENOR GILBERT HU HOH TECK VICE-CONVENOR ANTHONY HOE GIM WAH TREASURER WAN KOK LEONG (VICTOR) MEMBERS HO CHENG TOON (PAUL) LOH KWAN BOH LOW CHIN SING (LAURENCE) PAULINE WONG SECTION COMMITEES GOLF SECTION CONVENOR VICE-CONVENOR MEMBERS LINE DANCE SECTION CONVENOR VICE-CONVENOR TREASURER SECRETARY MEMBERS HOCKEY SECTION CONVENOR MEMBERS NELSON YEO KIAN PENG RAYMOND LIM TIAM TENG (PBM) ERIC TAN HUAT LIM DAYAL KHEMLANI JANSSEN HO SENG FATT IRENE LYE KIM HUA FRED TAY KAM KIANG JONATHAN TAN KHENG MENG MARTIN CHUA SOOK WHEE RONNIE TAN KIM CHENG KOH CHOON HWA HILDA TAN BENG HUAY MAGDALENE SOO MEI HENG LIM AH WAN (LILIAN YAP) JANET CHAN JOAN YEE LILIAN LEE HELEN LOY CHEE HUAN AMY TAN KHOON WAH TEO EAN EAN MRS HENG KEOW KELVIN LIM YONG SHENG EDWIN TAN KWEE YONG NG WAN CHIANG (ROBIN) SOFTBALL SECTION CONVENOR MEMBERS MARCUS LEW CHENG CHYE REGINA YEO LI IM ALVIN TAN WEI WEN ROYSTON TAN DANIEL HENG ANNUAL REPORT

18 SECTION COMMITEES SOCIAL SOCCER SECTION CONVENOR RANJIT SINGH VICE-CONVENOR WAYNE CHAN WEI WEE TREASURER KRISHNA PARAMASIVAM MEMBERS DAVID ONG BOON LAI STEVEN LEE SOO LIAP THOMAS TAY WHEE HONG ANG HOCK CHAI TENNIS SECTION CONVENOR MEMBERS PETER FOO SAY TUANG DR BOK TECK SUN PETER FOO KOK CHEE TAKESHI YOSHIDA ERNEST QUEK CHENG EN BRENDAN BOEY JEN YU TOASTMASTERS SECTION EXECUTIVE COMMITTEE (1 JULY JUNE 2018) PRESIDENT VICE-PRESIDENT, EDUCATION VICE-PRESIDENT, MEMBERSHIP VICE-PRESIDENT, PUBLIC RELATIONS TREASURER SECRETARY SERGEANT-AT-ARMS THIA ELITA ROSALIND YIP SHUI LI TING SERILYN MARK DAVID WEINBERGER JOSEPH MEYANA PRAGASAM JANSSEN HO SENG FATT SMITA SINGH EXECUTIVE COMMITTEE (1 JULY JUNE 2019) PRESIDENT ROSALIND YIP VICE-PRESIDENT, EDUCATION NGO AI LIN VICE-PRESIDENT, MEMBERSHIP JESSIE KWEK VICE-PRESIDENT, PUBLIC RELATIONS JENNY NG TREASURER ANNE LEE SECRETARY JANSSEN HO SENG FATT SERGEANT-AT-ARMS ANNE CHONG WOMEN S WING SECTION CHAIRPERSON YVONNE MARIE PEREIRA VICE-CHAIRPERSON CHEW LIAN NEO IRENE MEMBERS AMELIA LYNNA V M JOHN IRENE QUEK POH SUAN MENON PAMELA CHARLES NEE PEREIRA ONG SEW CHENG (VERONICA) KATHARINE SYN OI KWAN DOROTHY BONNIE TESSENSOHN 16 ANNUAL REPORT 2018

19 SPORTING ACHIEVEMENTS IN 2018 BILLIARDS Winner of Annual Interport Game 2018 with Royal Bangkok Sports Club BOWLING 19th Youth Bowling Inter-Club Runner-up CRICKET Singapore Cricket Association League 2018 Premier Division 1 st Runner-up Division 1 1 st Runner-up Division 3 Champion GOLF Winner of the SRC-SGCC Annual Golf Tournament HOCKEY (MEN S) Singapore Hockey National Hockey Junior League Division 2 - Champion Singapore Hockey National Hockey League 2 - Champion Singapore Hockey National Hockey League 3 - Runner-up SOFTBALL Singapore Baseball and Softball Association Women s Fastpitch League 1 st Runner-up ANNUAL REPORT

20 PADANG EVENTS 4 March 2018 SRC-EA Crystal Cup March 2018 JP Morgan Corporate Challenge Singapore to 30 April 2018 JSSL Singapore International 7s May 2018 Families for Life Celebrations to 29 July 2018 GetActive! Singapore to 5 August 2018 DHL Asia Cup August 2018 SAFRA Singapore Bay Run / Army Half Marathon to 17 September 2018 Formula 1 Singapore Grand Prix November 2018 MediaCorp SPOP! Sing November 2018 Padang Shield 2018 (Hosted by SRC) 18 ANNUAL REPORT 2018

21 FINANCE MEMBER S MESSAGE Dear Members Once again, it is an honour and privilege to address you as Finance Member in our Management Committee and to share salient matters of our Club s financials for Balance Sheet as at December 31, As members may be aware, our largest long term assets are our fixed assets, at cost less accumulated depreciation, of $15,261,012 (2017 $16,823,480). A significant change in the make-up of this item is that in 2017, as reported, the guest rooms at Level 3 were disposed of. This year, we are proud to have in its place at Level 3, our completed Esplanade Ballroom. In Note 4 of our audited financial statements, this fixed asset has been disclosed as $782,653 being cost less depreciation and, as reported in Note 11, the Development Fund balance of $1,627,288 was utilised for part of the construction cost of the Esplanade Ballroom. 1.2 Our cash at banks comprises fixed deposits (long term and current) totalling $15,452,425 (2017 $17,795,325) and cash and cash equivalents $3,956,388 (2017 $6,560,118). These balances are with four banks, Standard Chartered Bank, CIMB Bank Berhad, Development Bank of Singapore and Maybank Singapore Limited. 1.3 Members receivables less allowance for expected credit losses (previously termed provision for impairment) total $1,249,637 (2017 $1,344,226). Constant review of long-outstanding balances has resulted in a clearer image of such unpaid balances while the challenge of clarification of incomplete membership records has been significantly resolved. ANNUAL REPORT

22 2. Results for the year 2018 Total comprehensive deficit for the year was $4,428,588 (2017 $4,728,220), a decrease of $299,632. The deficit of $4,428,588 was impacted chiefly by the reduction in contribution from fruit machines (net) of $1,118,793. Members may recall that the Ministry of Home Affairs, the regulator of fruit machines operations, tightened regulations in the second half of 2017 in an attempt to control problem gambling. As a result, members guests were no longer allowed to enter the fruit machine room. Furthermore, among other new regulations, entry by members was strictly controlled and clubs were not allowed to provide facilities to encash members cheques and credit cards. In comparison with the previous year s results, members may recall that the deficit in 2017 was mainly due to an extraordinary loss of $1,356,765 on disposal of property, plant and equipment from the guest rooms fixed assets. Staff costs are a significant expense that management, present and future, must continue to be aware of, monitor and rationalise. 3. Independent Auditor We are pleased to report that our independent auditor, HLB Atrede, has expressed its willingness to accept reappointment for Conclusion I take this opportunity to thank all concerned, especially members, the management committee, the Finance sub-committee and all staff for their kind and valuable support and advice on our financial matters. In particular, it is also imperative that all heads of departments and their staff continue to support our finance director and the finance department to ensure smooth flow of information and documentation to facilitate and improve the efficiency in all areas of financial matters especially in the area of budgetary control. Thank you. Derrick D Souza Finance Member Singapore Recreation Club 20 ANNUAL REPORT 2018

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63 B Connaught Drive Singapore Tel: Fax: