ChaRting the FutuRe - Eurasian Association · maintenance of the Eurasian Community House. Dreams...

ChaRting the FutuRe

ConneCting the Past

annual report 2011

Mission to enrich the legacy of our Cohesive and Vibrant eurasian Community that is integrated with and Contributing to a Multi-ethnic, Multi-religious and Multi-cultural Singapore.

Core ValuesOur core values for the association- Pride, humility, integrity, and excellence.

Pride for the Community.humility in our actions.integrity in our Conduct.

Excellence in our Social Responsibility for the Community through Education, Family Support, and Community Development Programmes.

ContentsManagement Committee ...................................... 2

Notice and Agenda ................................................ 3

President’s Message ............................................. 4

Honorary Secretary Report .................................. 5

Education ............................................................... 9EA University Scholarship for Polytechnic GraduatesEurasian Community Fund (ECF) Education AwardsOpportunity FundSingapore Buddhist Lodge Awards 2011Self-Help Groups Joint Tuition Awards

Family Support Services ..................................... 11Project SparkTan Chin Tuan Foundation (TCTF) Single Parents SchemeFriends of FSS Volunteer TeaFSS Christmas PartyChristmas Hampers

Community Development Heritage ........................................................... 13The Eurasian Experience Eurasians in the HeartlandsCommemorating 500 Years of Portuguese Legacy Looking Forward

Performing Arts Chapter (PAC) ..................... 14Chingay Parade 2011Inter-Religious Inter-Racial ConcertNational Day ParadeJoint Christmas Light-Up

Social Circle .................................................... 15“Red & White” National Day Celebration Lunch SRC/EA Christmas Light-Up 2011Social Circle Christmas Dinner and DanceFamily Christmas Carnival (FCC) & Children’s Christmas Treat (CCT)Balut SectionGeneralExternal EventsREAD@EAEurasian Association Toastmasters ClubDragonboat

Corporate Communications ............................... 20The Communications CommitteeThe NewEurasian MagazineE-NewsletterWebsiteFacebook

Volunteer Management ....................................... 21Volunteer Appreciation

House Operations ................................................ 21Eddie’s PlaceUtilisation Of FacilitiesHouse MaintenanceSinking Fund

Treasurer’s Report ............................................... 22

The Eurasian Association | annual report 2011 pg 2

Management CommitteePOST NAME

President Mr. William Edward Jansen

Vice-President Mr. Benett Theseira

Honorary Secretary Mr. Jason Peter Dendroff

Honorary Treasurer Ms. Lynn Desker

Committee Members Mr. Geoffrey da Silva

Mrs. Yvonne Marie Pereira

Ms. Carla Jacqueline Barker

Mr. Burton Westerhout

Mr. Vincent Schoon

Ms. Francesca Eber

Mr. Christian Eber

PATRONMr. Herman R. Hochstadt

TRUSTEESMr. Oscar OliveiroMr. Barry DeskerMr. Timothy de SouzaMr. Joseph F. ConceicaoMr. Gerald MinjootMr. Gerard de Silva

MANDATORY COMMITTEES

AUDIT COMMITTEEMr. Kevin ScullyMr. Daryl PereiraMs. Helen Lee

FUNDRAISING COMMITTEEMr. Francis RemediosMr. Ralph Stanley

NON-MANDATORY COMMITTEES

LEGAL ADVISORY PANELMr. Martin MariniMr. Michael PalmerMs. Susan de SilvaMr. William da Silva

MC MEMBERS EXTERNAL COMMITTEESMr. William Edward JansenOnePeople.SgNorth Light School Mr. Benett TheseiraNational Integration Council Mr. Geoffrey da SilvaCompulsory EducationMinistry of EducationJoint Tuition Awards Committee Mr. Vincent SchoonFathers Action Network(National Family Council)Inter-racial Inter-religious (IRIR) Working Committee Mrs. Yvonne Marie PereiraOnePeople.Sg (Orange Ribbon)

Ms. Francesca EberSouth-East CDC

pg 3The Eurasian Association | annual report 2011

Notice and Agenda1. NOTICE IS HEREBY GIVEN THAT THE ANNUAL GENERAL MEETING OF THE EURASIAN ASSOCIATION, SINGAPORE, WILL

BE HELD AT THE EURASIAN COMMUNITY HOUSE, 139 CEYLON ROAD, SINGAPORE ON FRIDAY, 20 APRIL 2012 AT 7.30PM.

2. AGENDA

2.1. President’s address2.2. To confirm the minutes of the Annual General Meeting held on 26 April 20112.3. Matters arising from the minutes of the Annual General Meeting held on 26 April 20112.4. To receive the Annual Report and Audited Financial Statements for the year ending 31 December 2010 pursuant to Clause 22(a)

of the rules of The Eurasian Association, Singapore and Clause 23.2(b)(iv) of the AGM Bye-Laws2.5. To elect Office Bearers and Members of the Management Committee2.6. To appoint the Association’s Auditors for the ensuing year2.7. To consider and approve the following Resolution which has been submitted To consider and if deemed fit, to adopt the following amendment to the Rules of the Eurasian Association, Singapore, subject to

the approval of the Registrar of Societies2.7.1. To amend Rule 32 to delete the reference to the Comptroller of Income Tax, as advised by the office of the Commissioner

of Charities (“COC”), as the requirement is for the approval of the relevant agencies at the relevant time. (Today these approvals are coordinated by the COC.)

2.7.2. To insert a New Rule 36A to provide for the proper disposal of the assets of the Association if and when it ceases to be a charity registered under the Charities Act, as required by the COC

2.7.3. To amend Rule 38 to enable the Management Committee to appoint one or more prominent persons as Patron (or Patrons, as the case may be) of the Association

(At the time of printing, the approval of the COC has been obtained to table the above Amendments.)

3. NOTES

3.1. The Annual Report includes the following:3.1.1. Minutes of the Annual General Meeting held on 26 April 20113.1.2. Audited Financial Statement of The Eurasian Association 3.1.3. Audited Financial Statement of The Eurasian Association Endowment Fund3.1.4. Nomination Form

3.2. The Annual General Meeting is open only to registered members of the Association. Non-members will not be allowed to attend3.3. In accordance to Rule 26(b) of the Rules of the Association, only Ordinary Members are entitled to vote in person, or by proxy3.4. Nomination for Office Bearers and Committee Members must be received by the Committee at least 14 days before the Annual

General Meeting and must be prescribed form as annexed hereto3.5. Registration procedures:

3.5.1. Each member shall produce her/his identity card to the relevant Registration Officer3.5.2. The Registration Officer shall check that the name of each person seeking admission to the Annual General Meeting

appears on the Membership Roll3.5.3. Each Member shall initial against her/his name in the Membership Roll3.5.4. Ballot entitlement slips shall then be issued to each Life Member and Ordinary Member by the persons appointed for this

purpose by the Management Committee3.6. Procedure for Election of Office Bearers and Committee Members

3.6.1. Candidates for election may address the Chair if they wish, but in any case, for no more than 5 minutes each3.6.2. The Chairman shall at her/his discretion decide whether to allow speeches in support of a candidate, and if so, shall

announce how many members may speak and for how long3.6.3. Scrutineers shall be appointed by the members present to count votes on a show of hands3.6.4. Each position for an Office Bearer shall be voted upon separately and one candidate shall be elected to each post (except

the posts of Vice-President) in the following sequence: first, President; second, 1st Vice-President; third, 2nd Vice-President; fourth, Hon. Treasurer; fifth, Hon. Secretary; and sixth, Assistant Hon. Secretary

3.6.5. After the election of the Office Bearers, the position for the five Committee Members shall be voted upon separately. The five candidates who gain the most votes shall be declared by the Chairman to be elected as Committee Members

By Order ofThe Management Committee

Mr. Jason P. DendroffHonorary Secretary

Registered Office:139 Ceylon Road, Singapore 429744

Date: 8 March 2012


President’s MessageMoving forward, we will continue to bring Eurasian culture and heritage to Singaporeans and raise awareness of Eurasians in Singapore.

Looking back at the year 2011, it has been a very exciting year for us at the EA as we have been very active with lots of activities. It has also been a year of historical importance. In October 2011, we commemorated the 500th year anniversary of the Portuguese presence in Southeast Asia, in Malacca. We were all very honoured and pleased to be amongst many other Eurasians who were there to join in this momentous occasion. As president of the Eurasian Association Singapore, I felt privileged and honoured to be part of it all.

We also held our 3rd Charity Golf tournament at Warren Golf & Country Club in November 2011. We were honoured to have Emeritus Senior Minister Goh Chok Tong as the guest of honour; in fact, he has been the guest of honour for all of our charity golf events. All of us had a wonderful time and the proceeds from the event will be used to support EA’s programmes and the general running of the administration and the maintenance of the Eurasian Community House.

Dreams do come true. I say this because in 2010, I spoke about my dream that the wider Eurasian community, should one day reunite. The dates for the Eurasian Reunion 2012 are now locked in and set for, the 23rd and 24th March 2012. We are looking forward to this day where Eurasians in Australia, New Zealand, and Malaysia and around the region will come together and get reacquainted with our shared heritage, culture and history. A conference will be held on the second day when the following topics: The Future of the Eurasian Community, The Community Self Help Model and Building Future Leaders will be discussed. The grand opening of the new Eurasian Heritage Centre, which promises to be the prime center for Eurasian history in the region, will be the highlight of the reunion. The exhibition will feature the three main influences on Singapore Eurasian culture and heritage - the Portuguese, Dutch and the English. The Eurasian Reunion 2012 promises to be an eventful reunion not to be missed.

Here at the EA, education remains vital to our associations’ continuing effort to improve and to provide higher education and promote academic excellence to our Eurasian community in Singapore. In 2011, we were proud to have awarded our first university scholarship to Christopher Andrade. In September, 200 Eurasian students from primary, secondary and tertiary levels received awards during the ECF education awards ceremony that was held at St Patrick’s School. The ECF education

awards ceremony continues to be an annual event to acknowledge academic excellence and achievements amongst the Eurasian Singapore community.

The FSS committee has also been active in the year 2011. Among many activities, a group of under-privileged children enjoyed a magical performance of Voyage de la Vie (Journey of Life) during the March school holidays at Resorts World Sentosa, thanks to a joint venture with Central Singapore Community Development Council and the four self-help groups in Singapore. The FSS will continue to provide financial aid, food rations and other administrative support to the needy and, to make a positive and long lasting impact in the lives of people whom we serve.

In December 2011 the Singapore Recreation Club had our second joint Christmas Light-Up event to reaffirm historic ties with the SRC. The Community Development Social Circle committee has been very busy organising events for our EA members. Volunteers participated at the Family Christmas Carnival and Children’s Christmas Treat at the ECH. The children and everyone who attended enjoyed themselves and departed with smiles.

EA brought in festive cheer close to home to approximately hundred FSS clients in December with a Christmas party held here and performance by students from the International School Singapore. We also waved goodbye to the year 2011 and ushered in the year 2012 with a New Year’s Eve dinner and dance celebration at the Concorde Hotel organized by EA members.

Moving forward, we will continue to bring Eurasian culture and heritage to Singaporeans and raise awareness of Eurasians in Singapore.

As I will be stepping down at the AGM in April, I would like to thank our Patron, our Trustees, the Management Committee, volunteers and the EA Secretariat for all the hard work and time they have dedicated to the EA as well as The Eurasian Community in Singapore.

William (Bill) JansenPresident


The development on youth leadership particularly in the Eurasian community in Singapore has seen a steady growth.

Honorary Secretary’s Report

The Management Committee is pleased to present the Annual Report of the Eurasian Association (henceforth referred to as ‘The Association’) and the Financial Statement of the Association for the period from 1 January 2011 to 31 December 2011.

In May 2011, Mr. Christian Eber joined the Management Committee and was also appointed the Family Support Services Vice-Chairperson.

As of 31 December 2011, the Management Committee consists of the following:

POST NAME

President Mr. William Jansen

Vice-President Mr. Benett Theseira

Honorary Secretary Mr. Jason Dendroff

Honorary Treasurer Ms. Lynn Desker

Committee Members Mr. Geoffrey da Silva

Mrs. Yvonne Marie Pereira

Ms. Carla Jacqueline Barker

Mr. Burton Westerhout

Mr. Vincent Schoon

Ms. Francesca Eber

Mr. Christian Eber

MEETINGS

There were 6 Management Committee meetings and 3 Board of Trustees meetings between January 2011 and December 2011. Management Committee members’ attendance at these meetings consist of the following:

January 2011 – December 2011

(6 MC MEETINGS)Mr. William Jansen (6), Mr. Benett Theseira (4), Mr. Jason Dendroff (5), Ms. Lynn Desker (4), Mr. Burton Westerhout (5), Ms. Carla Barker (3), Mr. Christian Eber (2), Ms. Francesca Eber (5), Mr. Geoffrey da Silva (4), Mr. Vincent Schoon (5), Mrs. Yvonne Pereira (6).

(3 BOT MEETINGS)Mr. William Jansen (3), Mr. Benett Theseira (3), Mr. Jason Dendroff (3), Ms. Lynn Desker (3), Mr. Burton Westerhout (3), Ms. Carla Barker (2), Mr. Christian Eber (1), Ms. Francesca Eber (1), Mr. Geoffrey da Silva (2), Mr. Vincent Schoon (3), Mrs. Yvonne Pereira (3).

IPC STATUS

The Association, being accorded Institute of Public Character (IPC) status and being one of the Self-Help Groups working for public benefit, has emphasized transparency and good corporate governance. This is an increasingly important criterion for any potential donor wishing to donate to the Association.

The Association’s IPC status was renewed for the period of 18 May 2010 to 17 May 2015.

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01. William Jansen presents a gift to Mr. Chan Chun Sing from MCYS


Honorary Secretary’s Report (cont’d)

REVIEW OF CONSTITUTION

A review of the Association’s Constitution and Bye-Laws was initiated in 2009 and presented during the AGM in April 2010. Changes that were passed: the inclusion of an extra Vice-President; Trustees no longer having lifetime terms. Changes that were not passed: the inclusion of an additional Patron who may not be a Eurasian. MCYS’ Charity Unit and the Registrar of Societies (ROS) approved the proposed amendments as of February 2011.

IPC CODE OF GOVERNANCE

The IPC portal was updated in March 2010 in accordance with the requirements of MCYS.

HR POLICIES

As of 31 December 2010, the Association has implemented a set of new HR Policies which were aligned with that of NCSS.

AUDITOR

Foo Kon Tan Grant Thornton is the appointed auditor for the Association.

SECRETARIAT

As of 31 December 2011, the Secretariat Team consisted of the following:

POSITION NAME

General Manager Mr. Lester Low

Executive Secretary Ms. Cecilia Sim

Accountant Ms. Bernadette Soh

Operations/Events Executive Mr. Daniel Chong (as of August)

Education/Heritage Executive Ms. Jacqueline Peeris

Family Support Services Case Work Executive Mr. Jagannathan Ramakrishnan

Events Executive Ms. Bridget Valeria Basnayake

Corporate Communications Executive Ms. Rachel Chen

Accounts Assistant Mr. Albert Pok (as of November)

Mr. Lester Low was promoted from Director of Operations to General Manager in August 2011, and Ms. Ceciila Sim was promoted from Team Secretary to Executive Secretary in the same month.

MEMBERSHIP

DESCRIPTIONAS

OF YEAR ENDING 2010

NEW MEMBERS IN

2011

AS OF YEAR

ENDING 2011

Life Members 1,956 6 1,962

Ordinary Members 327 2 329

Associate Members 240 20 260

Associate Ordinary Members 78 2 80

Junior Members 481 3 484

Grand Total 3,082 33 3,115

The numbers as of Year Ending 2011 reflect the net membership, after taking into account the members who have passed on, or withdrawn their membership.

EA MANAGEMENT COMMITTEE MEMBERS ON NON-EA COMMITTEES

A number of EA Management Committee members sit on various working committees on racial and religious affairs, Community Development Councils, local ComCare networks and other community groups.

MEETINGS WITH VIPs

In 2011, the Management Committee met with a number of VIPs and distinguished guests.

01. ESM Goh Chok Tong was the Guest of Honour at the EA Charity Golf 2011

02. President Tony Tan was greeted by William Jansen during his lunch visit at the EA in August 2011

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DATE VISITOR PURPOSE OF VISIT

14 April 2011 Former President S R Nathan Formal visit to maintain ties to the Eurasian community

15 June 2011 Conferment Ceremony of Former Minister George Yeo

To thank Mr. Yeo for his service as Minister Representing Eurasians in Cabinet and to formally confer on him the title of Visitor of the Eurasian Community House

11 July 2011 His Excellency Afonso Malheiro To welcome the new Portuguese Head of Mission to the Eurasian Community House

4 August 2011 President Tony Tan Formal visit to the Eurasian Community House

5 September 2011 Acting Minister of Community, Youth and Sports Chan Chun Sing

To welcome the Acting Minister to the Eurasian Community House

3 November 2011 Speaker of the Parliament of Singapore and Member of Parliament Michael Palmer

To formally congratulate Mr. Palmer for his appointment as Speaker of Parliament

18 November 2011 Emeritus Senior Minister Goh Chok Tong

Guest-of-Honour for the 3rd EA Charity Golf Tournament

MISCELLANEOUS

ORGANIzATIONAL STRUCTUREIn compliance with the IPC Code of Governance, the Association has maintained its two Mandatory Committees, Audit and Fund-raising. The Legal Panel remains to provide advice to the Management Committee on all legal matters.

BOOkSA biography about the late E.W. Barker is currently in progress. Susan Sim has been selected as the author of the biography and an official agreement was signed in October 2011. The biography is expected to be completed in 2013.

500TH YEAR ANNIVERSARY OF PORTUGUESE-EURASIAN HISTORY AND HERITAGE For four days in October 2011, the Eurasian Association travelled to Malacca to meet the Malacca Portuguese-Eurasian Association (MPEA) to jointly celebrate 500 years of Portuguese presence in Southeast Asia. The four-day celebration encompassed various aspects of Portuguese-Eurasian heritage, performing arts and crafts, as well as contests, a grand dinner and an awards presentation.

TEMPORARY CAR PARkThe construction of the temporary car park on the vacant plot of land adjacent to the Association is currently ongoing. EA’s appointed consultant has submitted all necessary documents to SLA in a fresh application which commenced in November. SLA is presently in the process of seeking approval from the relevant authorities.

EXTERNAL COURSESThe Management Committee and EA staff member have been active in attending courses organized by the National Council of Social Services (NCSS) under its training arm, the Social Service Training Institute (SSTI). This enables them to execute their roles and responsibilities in the context of a non-profit organisation more effectively. Some courses attended by the Management Committee and staff members are as follows:

• UnderstandingtheRegulationsandCodeofGovernanceforCharitiesandIPCs• UnderstandingandManagingSuicidalYouths• ManagementofFamilyViolence:ComplexChildAbuseRelatedTrauma• WorkingwithYouths:Introduction• IntroductiontoMediaRelations:AStrategicCommunicationsWorkshopforNPOs• BoardGovernance:AnInductionTrainingforBoardMembersofCharities&IPCs

01. At the EA Golf Charity Tournament 2011 with ESM Goh Chok Tong and participants

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Non NCSS courses attended by MC and Staff are as listed below:

• 21st IAVE World Volunteer Conference• BePrepared–Learnrelevanttools&techniques

from SHRI• IDA SocialMedia Immersion Programme 201

(by Proguide)• Seminar on “An overview of Charities

Accounting Standard” complimentary by NTU• The Business of Heritage Conference 2011

(organized by National Heritage Board)

LOOkING AHEADThe year 2012 will be yet another exciting year for many Eurasians in Singapore as well as Eurasians around the region. The Eurasian Association is organizing its inaugural Eurasian Reunion event on the 23 & 24 March 2012. We are looking forward to see Eurasians coming together, reminiscing about the good old days and get reacquainted with our shared history, culture and heritage. The main highlight of this reunion will be the grand opening of our new Eurasian Heritage Centre. We will also continue our mission to bring Eurasian culture and heritage to the heartlands, and aim to strengthen and preserve the aspects of our culture and tradition throughout the rest of the Eurasian community in Singapore and abroad.

Moving forward, youths are not only tomorrow’s leaders, they can lead today. The Eurasian Association engages young people at every stage of development like the EA Toastmasters Club and the EA’s major annual event. The ECF Education Awards ceremony are there to encourage youths on academic excellence and to recognize academic achievements among young Eurasians. We actively work to empower youths in order for them to gain valuable opportunities and skills to help build their careers and improve their lives while contributing to the development of their communities and countries. The development on youth leadership particularly in the Eurasian community in Singapore has seen a steady growth. More young Eurasians have been seen coming forward to volunteer for National Community events and events organized by the EA.

Here at the EA, we will continue to strive for sporting excellence and in the year 2011, it has been nothing short of that. Our EA’s dragon boat team bagged Silver in the Singapore River Regatta in November 2011. They have been competing on strong and were ranked among the top of their categories with very impressive timings. The team continues to set their sights on more competitions and categories both here and abroad. We hope that the team will soar to even greater heights and we will look forward to another day of glory and another year of victory. With this in mind, we are also putting in efforts into forming our very own EA’s soccer team in the near future.

01. The Management Committee with Mr. Michael Palmer at the EA

02. ESM Goh Chok Tong taking a swing at the EA Charity Golf 2011

03. Mr. George Yeo conferment in June 2011

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Education Report

EA UNIVERSITY SCHOLARSHIP FOR POLYTECHNIC GRADUATES

In 2010, the EA created a new scholarship to assist students to continue their education at university. The initial idea came from President S R Nathan. The scholarship is available to deserving Eurasians who have completed a full-time, three-year local polytechnic diploma and wish to pursue an approved undergraduate degree course at one of the three local universities. The first scholarship was awarded to Christopher Andrade, a first-year student of Mechanical Engineering at the National University of Singapore.

EURASIAN COMMUNITY FUND (ECF) EDUCATION AWARDS

Launched in 1996, the ECF Education Awards showcase the academic achievement of Eurasian students. It signals to the Eurasian community the importance of achieving academic excellence and the EA’s support in encouraging more students to further excel in their studies. Applicants must be Singapore citizens or Singapore permanent residents of Eurasian parentage, and at least one parent must be Eurasian. They must be full-time students in the formal Singapore education system at primary, secondary, post-secondary (ITE/JC) and tertiary (NAFA/La Salle/polytechnic/university) levels.

The categories of awards are the Bursary and Study Grant, the Merit, Excellence and the Distinction Awards. The Bursary and Study Grant help defray certain costs of education for primary, secondary and tertiary students from lower-income families. The Merit and Excellence Awards are based solely on academic results and reward students who have emerged in the top 25% of their cohort. The Distinction Award is awarded to top students who have achieved outstanding academic results at their level of education.

The ECF Education Awards ceremony was held on 3 September 2011 at St. Patrick’s School, where 198 students received awards. The total amount disbursed was $44,300.

Distinction awards were given to the following students:

NAME OF DISTINCTION AWARD AWARD TITLE NAME OF STUDENT

SPONSOR

The ‘Peter H. Fernandez Award’ Top Eurasian PSLE Student 2010 Lendermann Monika Jia-xin Sponsored by Mr Lawrence da Silva

The 'Colonel R. J. Minjoot Award' Top Eurasian Normal Academic 'NA' Level Student 2010

Andrew Charles De Witt Sponsored by Mr Gerald Minjoot

The 'Colonel R. J. Minjoot Award' Top Eurasian Normal Technical 'NT' Level Student 2010

Nonis Julian Benedict Sponsored by Mr Gerald Minjoot

The 'Evelyn Rodrigues Award' Top Eurasian 'O' Level Student 2010

Neubronner Daniel Robert Sponsored by Mrs Evelyn Rodrigues

The 'Peggy Wai Chee Leong Award' Top Eurasian 'A' Level Student 2010

Jonathan Kenric Trachsel Sponsored by Mr Herman Hochstadt

The 'Colonel R. J. Minjoot Award' Outstanding Eurasian ITE Student 2010

Bridget Ann Welford Sponsored by Mr Gerald Minjoot

The 'Oscar G. da Silva Award' Outstanding Eurasian Polytechnic Student 2010

Pennefather Sarah Pyne Sponsored by Mr Lawrence da Silva

The 'Henry David Hochstadt Award' Outstanding Eurasian University Student 2010

Vanessa Dora Godfrey Sponsored by Mr Herman Hochstadt

The 'Claude & Marie da Silva Award' Outstanding Eurasian Sports Student 2010

Tyra Summer Ree Sponsored by Mr Harry Elias

Meritorious Eurasian Sports Student 2010

Brittanie Rei Bartlett Sponsored by Mr Oscar Oliveiro

Committee MembersMr. Geoffrey da Silva (Chairperson), Mr. Edmund Rodrigues, Mr. Derek Scully, Mr. Kenneth Seet.

01. Tertiary school recipients at the 7th Opportunity Fund Presentation in November 2011

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Education Report (cont’d)

Zaf Coelho organised a Pre-Award Youth Gathering for the Tertiary students at EA, to promote EA’s activities and provide a platform for these youths to give back and be involved in meaningful programmes with the EA. The youth had a tour of the Eurasian Showcase, then had small focus group discussions.

OPPORTUNITY FUND

The Opportunity Fund is an initiative by the Ministry of Community Development, Youth and sports (MCYS) under the Progress Package of Budget 2006, whereby the government allocated matching grants to the self-help groups. In 2011, a total of 112 students benefitted from the fund and received Popular and Bata vouchers, to be used to purchase textbooks, assessment books, stationery and other learning aids.

SINGAPORE BUDDHIST LODGE AWARDS 2011

This year’s Buddhist Lodge Awards was divided into three events for primary, secondary and tertiary students.

SELF-HELP GROUPS JOINT TUITION AWARDS

Nine Eurasian students received awards at this year’s Joint Tuition Awards, organised by the EA at Nanyang Polytechnic Auditorium on 30 July 2011. MP Mr. Michael Palmer was the guest of honour. Since it was the EA’s turn to organise the JTA awards this year, Eurasian culture was showcased via a performance item by the Kristang Cultural Troupe organised by Valerie Scully, who also mentioned in her speech the celebration of 500 years of Portuguese presence in the region.

The Joint Tuition Awards [JTA] is an annual ceremony where students in the Collaborative Tuition Programme [CTP], run by the Self-Help Groups [SHGs], are recognized for doing well in the National examinations including PSLE, N-levels and O-levels. 2011 is the eighth year of the SHGs organizing the JTA ceremony, and this year happened to be EA’s turn. When the CTP centres were first launched in 2002, there were only 14 tuition centres. Today, there are 63 centres island-wide, making tuition affordable and convenient for students.

The following students received awards: • PSLE (1) Shannon Ezrela Siew (2) Rebecca Renee Fletcher (3) Stephanie Elizabeth Misson

• N-Level (4) Liza Marie Valdes Goh (5) Nurul Aisyah Bte Mohd Amin (6) Siti Nafira Bte Mohd Noor

• O-Level (7) Kimberly Vanessa Pereira (8) Colin Francis De Souza (9) Luke Anthony Paglar

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01. Beautiful young Eurasian dancers performing at the Opportunity Fund Presentation 2011

02. Traditionally dressed participants at Asian Youth Seminar 2011

03. Proud recipients at the Buddhist Lodge Bursary Award 2011

04. President William Jansen at the Bridging Programme 2011


Committee MembersMs. Francesca Eber (Chairperson), Mr. Christian Eber, Mrs. Christine Pereira and Mr. Edmund Rodrigues

Projects Committee: Mrs. Dorothy Tessensohn, Ms. Michele Santa Maria, Ms. Tini Fadzilla

Volunteers: 40 Friends of FSS and Students of the International School of Singapore

Family Support Services

Administration: The present Committee has the administrative support of Mr. J. Ramakrishnan. Ms Bridget Basnayake has moved to join EA’s Administrative staff; however Mr. Daniel Chong another EA’s Administrative staff assists FSS when necessary.

At the beginning of 2011, FSS was assisting 110 households monthly, consisting of 257 individuals. The assistant schemes included Financial Assistance, NTUC Food Vouchers and Food Rations, the Emergency Assistance Fund and the Beyond Financial Assistance Fund. Help Clinics are being held weekly on Wednesdays.

The monthly Food rations continued to be delivered by Volunteers and the EA van. The FSS ration run is supported by two part-time persons, who assist with the packing and delivery. The FSS Review Committee meets on the first Tuesday of the month to review and accept the recommendations of the FSS team.

At the start of January 2011, the Hon Treasurer informed FSS that there was only $45,000 in the account left for disbursement for the year. Leaving a shortfall of $180,000 in the budget required.

The reason being that during the last economic downturn our support increased to the jobless and needy clients; as many clients were re-employed and we were able to find other avenues for support; the number was reduced from 153 households to 82 households.

We were also assisted through the generous support of President S R Nathan, Mr. Lawrence De Silva, Mr. Edward D’Silva and many others.

01. Entertaining performance by students from the International School Singapore at the FSS Christmas Party

02. FSS Chairperson, Francesca Eber with FSS clients and volunteers at the FSS Christmas Party

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PROJECT SPARk (SUCCESSFUL PARENTS AND RESLIENT kIDS)

Project SPARK is a partnership between Temasek Cares and the four self help groups to assist single parents to become independent and effective parents while helping their children to become more resilient, well adjusted and successful. The project is into its 2nd year.

TAN CHIN TUAN FOUNDATION (TCTF) SINGLE PARENTS SCHEME

The scheme is to support and assist low-income single parents with children under age 18, who are unemployed, or have a missing, incarcerated or uncontactable spouse. Single parent households who qualify receive S$150.00 in NTUC food vouchers for up to 12 months. The funding for this scheme is likely to be used up by the end of this year.

FRIENDS OF FSS VOLUNTER TEA

On 4 June, 2011, 35 volunteers attended this event which was aimed to thank the volunteers for their services during the year. FSS Chairperson also briefed them on the financial situation of the FSS and discussions were held to improve the services of the FSS.

FSS CHRISTMAS PARTY

The annual FSS Christmas Party was held on 4 December 2011 for 100 FSS Clients supported by 30 Friends of FSS, 25 Children from the International School Singapore, MC Members and Secretariat Staff.

CHRISTMAS HAMPERS

130 Clients received their Christmas Hampers valued at $100 each in December. The carton boxes for packing the hamper items were donated by DHL.

FSS also received donations towards the Christmas Party and Christmas Hampers.

Family Support Services (cont’d)

01. Children were all smiles after attending a magical performance of Voyage De La Vie at RWS

02-03. Happy participants and volunteers at the FSS Christmas Party

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The Eurasian Community House (ECH) has the following permanent Heritage Galleries:

• ‘The Eurasian Showcase’ on level one;• ‘World War II: The Eurasian Story’ on level four. The gallery is under

refurbishment and will re-open in March 2012;• ‘Roots of Our Community’, a new gallery on level four, is under development

and will open in March 2012. This gallery will showcase the evolution of our community since the arrival of European settlers in Asia from the 16th Century onwards.

THE EURASIAN EXPERIENCE

The Eurasian Experience in collaboration with Quentin’s Restaurant, combines visits to our Galleries with the option of Eurasian cooking demos and tasting. The number of visitors totaled 2,283 in 2011.

EURASIANS IN THE HEARTLANDS

Initiated in 2010, we continued to bring the ‘Eurasians in the Heartlands’ road show exhibit to various Community Centers and schools with a two-fold mission of promoting awareness of the Eurasian community and stimulate visits to the Eurasian Community House.

COMMEMORATING 500 YEARS OF PORTUGUESE LEGACY

The year 2011 marked the 500th Anniversary of the arrival of the Portuguese in Southeast Asia. EA participated in the following events to commemorate this landmark anniversary:

• Malacca Celebration, 26-29 October 2011 A contingent of our Members joined the festival organized by the Malacca

Portuguese Eurasian Association. Eurasians from all over Malaysia and from Australia also attended.

• Book Launch EA hosted the launch of ‘The Making of the Luso-Asian World: Intricacies of

Engagement Volume 1’ published by the Institute of Southeast Asia Studies (ISEAS) based on the papers presented at the 2010 Seminar on the Legacy of the Portuguese in Asia.

• Portuguese Exhibit EA collaborated with the National Heritage Board to set up an exhibit at ECH

to showcase the legacy of the Portuguese impact on the development of the Eurasian Community. The Exhibit opened in January 2012 and will eventually be absorbed into the new ‘Roots of Our Community’ Gallery.

LOOkING FORWARD

Going forward, the following projects are being planned:

• the opening of our 2 revamped/new permanent Heritage Galleries;• the development of an Eurasian Cooking School;• the inauguration of Handicraft classes;• the establishment of an Eurasian Heritage Resource Center.

Community Development - Heritage CommitteeCommittee MembersMr. Burton Westerhout (Chairperson), Ms. Catherine Zuzarte, Mr. Cedric Pereira, Ms. Charlotte Collars, Ms. Christina Theseira, Ms. Eulyth Fernandez, Ms. Fiona Hodgkins, Mr. Geoff Morris, Ms. Geraldene Lowe, Mr. Percy Shepherdson, Ms. Laraine Parry, Ms. Lucille Marcus, Ms. Therese Thompson, Mr. Quentin Pereira. The Committee is ably assisted by Ms. Jacqueline Peeris of the EA Secretariat.

01. Entertainers and performers during the 500th Anniversary of Portuguese Presence in Malacca

02. President William Jansen and participants at the Malacca Anglo-Indian Reunion trip

03. Author Kirsteen Zimmern at her Eurasian Face book signing event at the EA

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CHINGAY PARADE 2011

The EA took part in its fourth Chingay parade in February 2011. The EA’s group comprised students and teachers from Cedar Girls Secondary School, the International School of Singapore and two volunteers from the dance school at EA. They both danced on the go and also stopped to perform their flamenco-style routine to a delighted audience. More than three-quarters of the EA’s troupe comprised foreign nationals, from as far apart as China, Vietnam, Angola and the UK. The Passing of the Lamp included a poignant moment when 87-year-old Joe Conceicao as the Master passed the Lamp to Julian Schurmann, the Disciple, signifying EA’s belief that the present youth are the Eurasians’ future leaders and keepers of its heritage. Burton Westerhout secured an exhibition booth for the EA, Elizabeth Schurmann rounded up the ISS students and Julia Sheikh choreographed the dancing. It took her just five rehearsals to turn the amateurs into dancers who were watched by some 60 million viewers across Asia.

INTER-RELIGIOUS INTER-RACIAL CONCERT

A group of ten Eurasians and friends participated in the annual Inter-Religious Inter-Racial (IRIR) concert in July. PAC performers were involved in reading of the IRIR pledge and singing the chorus during the grand finale of the concert.

NATIONAL DAY PARADE

At the National Day parade, we were represented by a contingent comprising of nine young dancers from St. Josephs Convent and two young EA volunteers. They made up a contingent of 40 dancers representing the 4 ethnic groups in Singapore.

JOINT CHRISTMAS LIGHT-UP

For the second year running, the Singapore Recreation Cub and the Eurasian Association got together once again for the “Christmas Light-Up”. SRC Vice President, Captain Francis Koh, and EA President, Mr. William Jansen, did the honours of lighting up the tree; each hanging a bauble on the tree as a symbol of our longstanding ties. With his guitar in hand, Trevor Nerva sang some carols, accompanied by everyone present. Following this, guests proceeded to the St. Andrew’s Terrace at the rooftop to continue the ceremony. Mr. Terence Shepherdson, SRC’s Board of Control Games Chairman, and EA President, Mr. William Jansen, both gave speeches reflecting on the ties between both organisations. The Christmas-themed buffet dinner was provided by SRC’s Chefs and Quentin’s Restaurant. More carols were sung by Trevor Nerva who got the crowd to sing-a-long as well. The evening ended with everyone looking forward to the continuinity of this nostalgic event for years to come!

Community Development - Performing Arts Chapter (PAC)Committee MembersMr. Vincent Schoon (Chairperson)

01. Prime Minister Lee Hsien Loong and participants at the Chingay Parade 2011

02. Former President S R Nathan shaking hands with Mr. Joe Conceicao

03-04. Beautiful dancers and participants at the Inter-Religious Inter-Racial Concert 2011

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Community Development - Social CircleCommittee MembersMs. Yvonne Pereira (Chairperson), Ms. Dorothy Tessensohn (Vice-Chairperson), Ms. Nancy Fobrogo (Secretary), Ms. Gwen Ong, Ms. Emeleen Soh, Ms. Pamela Menon, Ms. Sandra Theseira, Mr. Peter Rodrigues, Ms. Monica Leicester-Wong, Mr. Steven Lim, Mr. Suresh Menon (Ad-hoc members)

01. President William Jansen and SRC Vice President, Captain Francis Koh at the SRC Christmas Light Up

02. Yvonne Pereira and participants at the Inter Club Balut Competition

03. Participants were all smiles at our Inhouse Balut Competition

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“RED & WHITE” NATIONAL DAY CELEBRATION LUNCH – 14TH AUGUST 2011

We celebrated Singapore’s 46th Birthday at the Eurasian Association’s Community House on the 14th of August 2011.

More than 100 members and guests streamed into our community house, clad in their red and white outfits, ready to satisfy their palates, and party! The guests comprised visitors from Australia, England and Indonesia as well. The husband and wife team, namely, Chato and Qamal, a.k.a. The D’Highlights, entertained the crowd with a “goodies but oldies” genre.

Being patriotic citizens, everyone stood at attention with their miniature Singapore flags in hand, to sing the national anthem; led by our MC members and members of the Social Circle.

Kudos to Quentin Pereira and his Staff for the sumptuous buffet spread and excellent service! Special thanks to Liz Schurmann for her sponsorship of the attractively-decorated centrepieces, and to everyone who supported our event.

SRC/EA “CHRISTMAS LIGHT-UP” – 11TH NOVEMBER 2011

For the second year running, this meaningful event which symbolises the longstanding ties between SRC and EA, was held at the SRC. Prior to the event date, both womenfolk from SRC’s Women’s Wing and EA’s Social Circle, bonded through working hand-in-hand in decorating the Christmas tree.

In unison, EA President, William Jansen and SRC Vice President, Captain Francis Koh, each hung a bauble, and lit the Christmas tree to start off the festivities.

Speeches by William Jansen and SRC Board of Control Games Chairman, Terence Shepherdson, reflected on the ties between the two organisations.

The intimate event was followed by a Christmas-themed buffet dinner provided by SRC’s F&B and Quentin’s Restaurant. Trevor Nerva entertained all guests with a carolling and sing-along session.

SOCIAL CIRCLE CHRISTMAS DINNER AND DANCE

The Social Circle held its first annual Christmas Dinner and Dance on 3rd December in the EA’s multi-purpose hall. This Christmas affair was well patronised and enjoyed by the community.


Community Development - Social Circle (cont’d)

“FAMILY CHRISTMAS CARNIVAL” (FCC) & CHILDREN’S CHRISTMAS TREAT (CCT) – 10TH DECEMBER 2011

This annual affair was held at our Eurasian Community House on 10th December 2011 from 11am to 4pm.

Families were entertained at Level 1 with music and tombola sessions. Christmas cuisine was provided by Quentin’s Restaurant and local “halal” delights were also available.

There was an array of items at stalls selling Christmas décor, sugee & chocolate cakes, delicacies, jewellery and tupperware.

Whilst the parents were entertained downstairs, their children were kept occupied upstairs in the MPH at the activity stalls engaging in face painting, balloon sculpturing or busy creating their own badges at the “doodle and colour” stall which was kindly sponsored by Josephine Eber.

The duo of Reuben & Mark from ToyBox Company, got the seventy four children (comprising children from Mendaki, CDAC, Sinda and the Eurasian community) on their feet, screaming with excitement!

“Uncle Jimbo” from Party Planners, kept up the momentum of excitement with his magic, ventriloquist skills and games segment.

To end the fun-filled day, Santa presented each child with a gift; engaging in light conversation with each and every child who sat on his lap or posed for a photograph; with the Christmas tree and fireplace as background.

Santa did the honours of presenting the 3 lucky winners a bicycle each, in the age group grand lucky draw.

With presents and novelties in hand, the children happily left with big smiles on their faces!

BALUT SECTION

This Section was ably managed by:

Convenor : Philip CordeiroAssistant Convenor : Therese ThompsonAdvisor : Yvonne Pereira

The In-house 2011 Balut Tournament was played over 8 months (March to October 2011); the Finals being held on 7th October.

Champion : Philomena Nonis1st Runner-up : Philip Cordeiro2nd Runner-up : Joyce Cordeiro

Representing EA in the 2011 Inter-Club Balut Competition were:

Philip & Joyce Cordeiro, Therese Thompson, Monica Leicester-Wong, Nancy Fobrogo and Zoe Lazaroo.

The following clubs took turns to host the competition at their premises:

Singapore Recreation Club (SRC)Singapore Cricket Club (SCC)The Eurasian Association (EA)The Tanglin Club (TC)The National University Society of Singapore (NUSS)The Indian Association (SIA)

We are sincerely grateful to the SRC for hosting the Interclub competition at their premises on behalf of EA.

Sincere thanks to Mrs. Evelyn Rodrigues and Mr. Quentin Pereira for their generous sponsorship and support to our Balut Section. And to our loyal Balut Members for keeping the Section “alive”; not forgetting our EA Secretariat who helped to record our scores.

GENERAL

Besides assisting in the events organised by the Social Circle, members from our SC have also rendered their services for the IRIR, Charity Golf, NYE and the decorating of the whole of the ECH for Christmas.

More importantly, we were truly blessed to have had so many regular and “new” Volunteers, coming forward to render their service to EA for a worthy cause; for which we are most grateful.

We are also thankful to all members of the Eurasian community and their guests, for supporting our events, despite the lack of sufficient car park space.

We hope to be able to organise more events, once additional car park space is made available.

EXTERNAL EVENTS

To help foster and maintain good relationships with fellow self-help groups and external agencies, the Social Circle has also participated in these events:

• Orange Ribbon Celebrations held on 23 July at Fort Canning Green. Yvonne Pereira represented the EA in the ORC organising committee.

• Inter-Religious Inter-Racial (IRIR) Concert held on 9 July at Resort World Sentosa.

• Singapore Recreation Club (SRC) Light-Up held on 12 November.


RESOURCES

National Library Board, for READ! Singapore, Short Story Compilations: • ROADS LESS TRAVELLED, TRANSITIONS.• Eurasian Association, for the use of its facilities.

ACTIVITIES

• Ten meetings from February to November Members who began at various levels of interest in

reading are now leading discussions, presenting personal insights and making arguments. Their repertoire covers novels such as Steinbeck’s: OF MICE AND MEN to SHOOTING AN ELEPHANT, a piece from a journal by George Orwell.

• 1st Anniversary Celebration – 23rd September 2011

The event was graced by CE/NLB, Elaine Ng and EA President, Bill Jansen. It has presented the opportunity to acknowledge the assistance received from NLB and EA, and present the club’s report card.

PLANS IN 2012

• To recruit more members• To organize READ@EA MONTH in September

2012

READ@EA

Meeting Date 2nd Friday of the month

Time 7 pm

Venue Platinum Lounge, ECH

01. President William Jansen with reading club members at their first anniversary party

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Community Development - Reading ClubCommittee MembersNancy Fobrogo (Chairperson), Evelyn Rodrigues, Edmund Rodrigues, Peter Rodrigues, Dorothy Tessensohn, Emeleen Soh, Yvonne Pereira, Melanie Smith, Rosemary Tessensohn, Francesca Eber


In 2011 the ,Toastmasters Club has reached new heights. It was awarded the Select Distinguished Club Award by Toastmasters International at the Club Officers Training. This award is given to clubs whose membership has grown, members who have achieved educational awards and whose Executive Committee has fulfilled their respective roles in accordance with Toastmasters standards of excellence.

In March 2011 Zaf Coelho and Michelle Ayn Tessensohn represented the Toastmasters Club at the Area International Speech and Table Topics contest. Zaf Coelho did the club proud when he went home with the trophy for Second Runner Up in the Table Topics Contest. Crispin Rodrigues was also voted in as Area Governor by all the clubs in Area D2 for the term 2011-2012.

On the 17th of September, Ketan Shah and Santhanaram represented the club at the Area Humorous Speech and Evaluations contest.

On 29th October, the Club hosted the Area D2 mega-speech marathon in conjunction with Halloween. Several clubs participated in and dressed up in full Halloween costume with Michelle Ayn Tessensohn and Roberto Vale of the Cartusians Toastmasters Club tying for Best Speaker.

On the 16th of December, the club organised a special event titled, ‘Santa Claus vs. The Grinch’ where they had two teams who spoke either for or against Christmas. This event was well attended by Toastmasters of the Cartusians, James Cook University, Vietnam, NTU, Bishan, Joo Chiat, Yokogawa, Fort Canning & Toastmasters Club of Singapore with three new members signing up at this event. There were 34 people who attended and enjoyed this rousing night of hilarious and erudite speeches befitting the high standard of speeches that the Toastmasters Club is coming to be known for. Natalie Chantigny from the Cartusians Toastmasters Club was voted Best Speaker.

As the club has now reached 32 members, in order to give each member a chance to participate and complete their projects, a second meeting will be held on the 19th of January from 7.30pm to 9.30pm. As of January 2012, Toastmasters Club is well on its way to achieving its goal of President’s Distinguished Club. With a membership of 32 and counting and a growing team of committed and spirited speakers who seek to improve their communication and leadership skills through learning from each other and building a robust, energetic club atmosphere with an emphasis on a love for the English language while embracing the diversity of each member and working in collaboration with one another.

Santhanaram Jayaram was placed as first runner up in the Area Evaluations contest on the 17th of September.

Community Development - Toastmasters Club

EuRASiAN ASSoCiATioN ToASTMASTERS Club

01. Yvonne Pereira and Toastmasters Club committee members at the 29th Chapter Meeting

02. The Toastmasters Club members having a blast on Halloween

02. President of Toastmasters Club, Michelle Tessensohn giving a speech at the 29th Chapter Meeting

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Committee MembersMichelle Tessensohn (President), Emilie Oehlers (Vice President, Education), Reuben Shini (Vice President, Membership), Sam Wadia (Vice President, P.R.), Peter Rodrigues (Secretary), Magesvary T.G. (Treasurer), Joachim Pereira (Sergeant-At-Arms), Zaf Coelho (Immediate Past President)


EVENTS AND ACTIVITIES

The EA Dragons train weekly on Sunday afternoons from 2.30pm to 5pm. Our training sessions have been extended to allow for circuit training to be incorporated before water training. We have also attended and participated in the following events:

PA Paddle Championship in April 2011We participated in the 10-crew Open Category but did not earn a placing in the top 3.

Northeast CDC Dragonboat Championship in August 2011We participated in the 10-crew Invitational Race. We were placed fourth and earned a medal of participation.

Singapore River Regatta in November 2011We participated in the 10-crew PA Corporate Members Race and were placed second, thus earning a silver medal. We have also participated in the 10-crew Open Category but did not earn a placing in the top 3.

10kM Open Sea Dragonboat ExpeditionTo enhance our training, we embarked on a 20-crew Open Sea Dragonboat Expedition from Sembawang Water Venture.

Community Development - Dragonboat

DRAgoNboAT

Committee MembersCalvin Christian (Coach), Clifford Le Caine (Coach), Bianca Hoeden (Captain)

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01. EA dragon boaters warming up for the competition

02. EA dragon boaters striking a pose

03. Dragon boat racing on the Singapore River


THE COMMUNICATIONS COMMITTEE

The committee was established in May 2008 with the purpose of disseminating information and raising awareness of the Eurasian community and its culture and heritage. Mr. Benett Theseira joined the Communications committee as Chairperson in May 2010.

THE NEWEURASIAN MAGAzINE

The EA’s quarterly magazine, The NewEurasian, has a circulation of over 7,800 readers and is read by more than 17,000 Eurasians in Singapore. It is also circulated to senior government offices, various ministries, statutory boards, community organisations and self-help groups. The publication is targeted at the Eurasian community in Singapore and overseas, as well as members of the public who may have an interest in the Eurasian community. Many EA members and volunteers have contributed content to The NewEurasian, keeping the publication fresh and diverse. Back issues of The NewEurasian are also available for download via the EA website.

E-NEWSLETTER

The EA’s monthly e-newsletter provides the Eurasian community in Singapore and overseas with up-to-date announcements of events related to the EA, or any other happenings of interest or benefit to the Eurasian community at large.

WEBSITE

The EA’s website www.eurasians.org.sg continues to be a source of information pertaining to the EA, for existing members or those who are new to the EA. All information about the Association, upcoming events, as well as past issues of The NewEurasian magazine and the EA’s annual reports are available for download from the EA’s website.

FACEBOOk

The EA’s Facebook page http://www.facebook.com/eurasianassociation creates another avenue for the EA to extend their reach to the wider Eurasian community. The Facebook page continues to be a large source that focused on community building and sharing of information.

Committee MembersMr. Benett Theseira (Chairperson), Ms. Angelina Fernandez, Mr. Peter Rodrigues, Ms. Rebecca Morris (Editor), Ms. Rachel Chen (Executive)

Corporate Communications

www.eurasians.org.sg OCTOBER– DECEMBER 2011

PLUSA tribute to former President SR Nathan Students’ academic excellence Eurasian family life of yesteryear

Being Eurasian:personal experiences of a mixed

cultural identity

EA Oct-Dec 2011-CS5 FA.indd 1 10/27/11 7:18 PM

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01. EA’s website

02. The NewEurasian

03. EA’s Facebook

04. EA’s e-newsletter

www.eurasians.org.sg

APRIL - JUNE 2011

Remembering President

Benjamin ShearesPLUSRULING THE WAVES

EA Dragons’ epic boat trip

UNIVERSITY OF LIFE

Engineering scholarship

student plans his career with precision

www.eurasians.org.sg

JULY – SEPTEMBER 2011

PLUSHONOURS FOR GEORGE YEO

Tributes flow for former Minister

CLASS ACT

Youngster’s initiative takes her

to the top

A NEW LOOK AT WORLD WAR II

Plans march ahead to renovate

history exhibit

500 years of

Portuguese

influence in

South-east Asia

EA Jul-Sept 2011-FA.indd 1

7/20/11 2:02 PM


In 2011, the EA continued to be proactive in attracting and retaining a committed team of volunteers to contribute their valuable time and skills to the Association. The volunteer database is regularly maintained and updated to support events and activities organised by the EA’s sub-committees. Recruitment is done primarily through EA’s publication such as The NewEurasian, e-newsletter, website, and Facebook. We have 130 volunteers to date.

These are some events and ongoing programmes that our wonderful volunteers have supported:

• Family Support Services Christmas Lunch• Chingay Parade• Family Support Services ration runs and packing of Christmas hampers• The Eurasian Experience• EA Charity Golf tournament 2011• Inter-racial Inter-religious Harmony Nite• ECF Education Awards Ceremony• Joint Tuition Awards Ceremony• Eurasian Community House Christmas decoration

VOLUNTEER APPRECIATION

The annual Volunteer Appreciation Tea was held on 26 March to honour all EA volunteers who have dedicated their time and skills to the EA’s various sub-committees and events.

Mr. Lester Low and Mr. William Jansen

EDDIE’S PLACE

Quentin’s Eurasian Restaurant continues to draw members and guests of all races to the EA, particularly after the success of the TV show, The Skinny Chef featuring Eurasian chef Quentin Pereira who brought Eurasian cuisine to the homes of all Singaporeans via the television screen.

Quentin’s is open for lunch at 11.30am to 2.30pm and for dinner at 6.30pm to 10.30pm, from Tuesdays to Sundays.

UTILISATION OF FACILITIES

House facilities were well-utilised in 2011. A range of activities and events were hosted in the ECH’s Multi-purpose Hall (MPH). The EA also housed ongoing classes and activities such as Mandarin and Portuguese language classes, medieval swordsmanship and many other community events.

HOUSE MAINTENANCE

The monthly housekeeping and maintenance costs amounted to about $5600 per month which is slightly higher than previous years due mainly to age of the building and fixtures. The monthly maintenance and housekeeping costs comprised maintenance and servicing of the lift, air-conditioning, power generator, fire and security alarm, as well as pest control, cleaning and landscaping.

SINkING FUND

A Facility Management Firm will be engaged to determine the amount of Sinking Fund required.

Volunteer Management

House operations

01. Family Support Services volunteers and MC members at the Xmas Gift Hampers

02. At the Inter-racial Inter-religious (IRIR) Harmony Nite 2011 at RWS

03. The Multi-Purpose Hall situated in the Eurasian Community House

04. The exterior of the Eurasian Community House at 139 Ceylon Road

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Treasurer’s ReportThe financial statements were prepared in accordance with the Recommended Accounting Practice for Charities (RAP6). Accordingly, its reserves and all its income resources have been classified as either unrestricted funds or as restricted funds to the extent to use of the funds are to be applied for specified purpose. Income and expenditure incurred on various programs reflect the gross amounts. In addition, the reserves and income of the Eurasian Association Endowment Fund has been excluded from the audited financial statements of the Eurasian Association, as the Fund is seperately governed by the provisions of the Trust Deed and issues its own financial statements.

To ensure adequate funding for the programs run by The Eurasian Association, the Management Committee embarked on a fund raising drive in FY2011. The Charity Golf Tournament raised $172,000, the President Challenge Charity Fund contributed $167,000 and the Ministry of Community Development, Youth and Sports awarded a grant of $200,000. As a result, we recorded an overall surplus of $210,979.

Total incoming resources for the year was $1,909,460 of which $511,413 was classified as restricted funds and the balance $1,398,047 as unrestricted funds, as compared to total gross income resources of $1,584,795 in 2010. Total expenditure amounted to $1,698,481 (compared to total expenditure in 2010 of $1,652,187) of which $462,832 was funded by restricted funds with the balance of $1,235,649 being funded out unrestricted funds, resulting in a surplus in unrestricted fund reserve of $162,398.

Unrestricted Funds

------------------------------Restricted Funds------------------------------ Total

General & Heritage GST-Offset SpecialCommunity Education Endowment Package Opportunity Dr Paglar Purpose

Fund Fund Fund Fund Fund Scholarship Funds$ $ $ $ $ $ $ $

At 1 January 2010 814,787 30,167 125,000 20 108,802 - 627,606 1,706,382

Total comprehensive income for the year

(37,896) - - 550 (65,360) - 35,314 (67,392)

Transfer to Dr Paglar Scholarship - - - - - 94,243 (94,243) -

Balance at 31 December 2010 776,891 30,167 125,000 570 43,442 94,243 568,677 1,638,990

Prior years adjustment 163,166 - - - - - (163,166) -

Balance at 31 December 2010 940,057 30,167 125,000 570 43,442 94,243 405,511 1,638,990

Total comprehensive income for the year

162,398 - - - (26,887) (67,000) 142,468 210,979

Transfer to special purpose funds (30,000) - - - - - 30,000 -

Balance at 31 December 2011 1,072,455 30,167 125,000 570 16,555 27,243 577,979 1,849, 969

RESERVES RATIO POLICYThe Board of Trustees & Management Committee, having considered the Eurasian Association’s sources of funds and annual expenditure have decided on a reserve policy of 3:1 i.e.: to maintain reserves being its unrestricted fund balance of 3 times its estimated annual operating expenditure to ensure sufficient funds for its continued growth and to undertake its various programs.

The ratio of Reserve to annual expenditure is currently 0.92:1 (2011) and 1.01:1 (2010). In order to increase its reserves, the Eurasian Association will continue to raise funds through programs and events to raise additional donations from the community and public.

Donors S$

Dato Low Tuck Kwong 100,000

Mr. Lawrence da Silva 53,000

S M Jaleel Foundation Ltd 25,000

Chew How Teck Foundation 20,000

Ngee Ann Kongsi 20,000

Mr. Edward D’Silva 15,000

Hong Leong Foundation 10,000

Keppel Corporation Limited 10,000

Lee Foundation Singapore 10,000

Allen & Gledhill LLP 7,400

Mr. Damian Jerome De Souza 6,560

Ms. Judith Prakash 5,000

Donors S$

Singapore Press Holdings Foundation Ltd 5,000

Mr. Simon de Cruz 4,000

Mr. Gerard W. Rodrigues 3,500

Ms. Carla Jacqueline Barker 3,000

Mr. Gerry De Silva 3,000

Ms. Vanessa Anne Marie Westerhout 3,000

Ram Pacific Pte Ltd 2,400

Singapore Recreation Club 2,400

Mr. Cheong Sae Peng 2,000

Mr. Gerald Minjoot 2,000

Serene Land Pte Ltd 2,000

MAJOR DONORS INCLUDE

The minimum donations amount recognized in the list of donors is $2,000.00.

SUMMARY OF RESERVES


Expenditure S$

Administrative & Governance Costs 428,338

Family Support Services 266,881

Education & Training Programs 245,348

Depreciation 215,992

Land Lease Cost 145,528

Other Expenses and write-downs 85,325

Eurasian Community House 81,510

Publications 75,872

Community Development & Outreach 48,091

Charity Golf 2011 46,574

Other Activities 40,394

Heritage and Culture Education 10,093

Performing Arts Development 8,535

TOTAL 1,698,481

Treasurer’s Report (cont’d)

SUMMARY OF INCOMING RESOURCES

SUMMARY OF EXPENDITURE

Sources of Funds S$

Eurasian Community Fund 468,351

Government Contributions 433,405

Matching Grants 200,000

Charity Golf 2011 171,968

President’s Challenge Charity Fund 167,000

Government Grant for Land Lease 145,528

Events & Programs 125,043

Special Purpose Donations 71,585

Other Income 70,780

Unrestricted Donations 55,800

TOTAL 1,909,460

Eurasian Community Fund 25%

Government Contributions 23%

Matching Grants 10%

Unrestricted Donations 3%

Charity Golf 2011 9%

Other Income 4%

Special Purpose Donations 4%

Events & Programs 7%

Government Grant for Land Lease 8%

President’s Challenge Charity Fund 9%

Heritage and Culture Education 1%

Other Activities 2%

Charity Golf 2011 3%

Community Development & Outreach 3%

Publications 4%

Eurasian Community House 5%

Land Lease Cost 9%

Education & Training Programs 14%

Administrative & Governance Costs 25%

Others Expenses and write-downs 5%

Depreciation 13%

Family Support Services 16%

Performing Arts Development 1%

The Eurasian Association, Singapore

Contents Page

Statement by the Management Committee 25

Independent Auditor’s Report 26

Statement of Financial Position 28

Statement of Comprehensive Income 29

Statement of Changes in Funds 31

Statement of Cash Flows 32

Notes to the Financial Statements 33



The Management Committee are responsible for the preparation and fair presentation of these financial statements in accordance with the provisions of the Constitution of the Association, the Charities Act, Chapter 37, the Societies Act, Chapter 311 and Singapore Financial Reporting Standards. This responsibility includes selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances.

We, William Edward Jansen and Lynn Desker, being two of the members of the Management Committee of The Eurasian Association, Singapore, do hereby state that, in the opinion of the Management Committee, the accompanying statement of financial position, statement of income and expenditure, statement of changes in funds and statement of cash flows, together with the notes thereon, are drawn up so as to present fairly, in all material respects, the state of affairs of the Association as at 31 December 2011 and of the results, changes in funds and cash flows of the Association for the financial year ended on that date, and at the date of this statement, there are reasonable grounds to believe that the Association will be able to pay its debts as and when they fall due.

On Behalf of the Management Committee

WILLIAM EDWARD JANSEN LYNN DESKERPresident Honorary Treasurer

Dated: 8th March 2012

Statement by the Management Committeefor the financial year ended 31 December 2011


We have audited the accompanying financial statements of The Eurasian Association, Singapore (“the Association”), which comprise the statement of financial position as at 31 December 2011, the statement of comprehensive income, statement of changes in funds and statement of cash flows for the year then ended, and a summary of significant accounting policies and other explanatory notes.

The Management Committee’s responsibility for the financial statements

The Management Committee is responsible for the preparation and fair presentation of these financial statements in accordance with the provisions of the Constitution of the Association, Charities Act, Chapter 37, Societies Act, Chapter 311, Recommended Accounting Practice 6 and Singapore Financial Reporting Standards and for devising and maintaining a system of internal accounting controls sufficient to provide a reasonable assurance that assets are safeguarded against loss from unauthorised use or disposition; and transactions are properly authorised and that they are recorded as necessary to permit the preparation of true and fair statement of comprehensive income accounts and balance sheets and to maintain accountability of assets.

Auditor’s responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Singapore Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation of the financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Independent Auditor’s Report to the members of The Eurasian Association, Singapore


Independent Auditor’s Report (cont’d)

to the members of The Eurasian Association, Singapore

Opinion

In our opinion, the accompanying financial statements are properly drawn up in accordance with the provisions of the Charities Act, Chapter 37, Societies Act, Chapter 311, Recommended Accounting Practice 6 and Singapore Financial Reporting Standards so as to give a true and fair view of the state of affairs of the Association as at 31 December 2011 and the results, changes in funds and cash flows of the Association for the year ended on that date.

Report on Other Legal and Regulatory Requirements

In our opinion:

(a) the accounting and other records required by the regulations enacted under the Charities Act, Chapter 37 and Societies Act, Chapter 311 to be kept by the Association have been properly kept in accordance with those regulations; and

(b) the fund-raising appeals held during the year ended 31 December 2011 have been carried out in accordance with Regulation 6 of the Societies Regulations issued under the Societies Act (Chapter 311) and proper accounts and other records have been kept of the fund-raising appeals.

During the course of our audit, nothing came to our notice that caused us to believe that:

(a) the Association did not comply with the requirements of Regulation 15 (fund-raising expenses) of the Charities (Institutions of a Public Character) Regulations; and

(b) the donation moneys have not been used in accordance with the objectives of the Association as an institution of a public character.

Foo Kon Tan Grant Thornton LLPPublic Accountants andCertified Public Accountants

Singapore, 8th March 2012


Statement of Financial Positionas at 31 December 2011

31 December 2011Re-stated

31 December 2010 1 January 2010Note $ $ $

AssetsNon-Current Property, plant and equipment 3 4,050,038 4,205,181 4,412,825

Current Inventories 4 2,698 68,875 -Other receivables 5 364,782 285,346 395,529Deposits and prepayments 6 24,151 18,867 22,352Fixed deposits 7 143,374 142,982 466,874Cash and bank balances 7 1,358,257 736,191 643,881

1,893,262 1,252,261 1,528,636Total assets 5,943,300 5,457,442 5,941,461

FundsUnrestricted Funds 8 1,072,455 940,057 814,787Restricted Funds - Education fund 9 30,167 30,167 30,167- Heritage endowment fund 10 125,000 125,000 125,000- GST offset package fund 11 570 570 20- Opportunity fund 12 16,555 43,442 108,802- Dr Paglar Scholarship fund 13 27,243 94,243 -- Special purpose funds 14 577,979 405,511 627,606Total restricted funds 777,514 698,933 891,595Total funds 1,849,969 1,638,990 1,706,382

LiabilitiesNon-currentDeferred capital grants 15 3,538,917 3,736,322 3,933,727

Current Accruals 81,946 36,924 241,194Other payables 472,468 45,206 60,158

554,414 82,130 301,352Total funds and liabilities 5,943,300 5,457,442 5,941,461

The annexed notes form an integral part of and should be read in conjunction with these financial statements.


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9


Statement of Cash Flowsfor the financial year ended 31 December 2011


Year ended Year ended31 December 2011 31 December 2010

$ $

Cash Flows from Operating ActivitiesSurplus/(deficit) for the year 210,979 (67,392)Adjustments for:Amortisation of deferred capital grants (197,405) (197,405)Interest income (1,601) (1,355)Depreciation of property, plant and equipment 215,992 215,196Operating surplus/(deficit) before working capital changes 227,965 (50,956)Decrease/(increase) in inventories 66,177 (68,875)(Increase)/decrease in other receivables (79,436) 110,183(Increase)/decrease in deposits and prepayments (5,284) 3,485Increase/(decrease) in accruals and other payables 472,284 (219,222)Cash generated from/(used in) operations 681,706 (225,385)Interest received 1,601 1,355Net cash generated from/(used in) operating activities 683,307 (224,030)

Cash Flows from Investing ActivitiesPurchase of property, plant and equipment (60,849) (7,552)Net cash used in investing activities (60,849) (7,552)

Cash Flows from Financing ActivitiesDecrease in fixed deposits pledged - 60,000Net cash generated from financing activity - 60,000

Net increase/(decrease) in cash and cash equivalents 622,458 (171,582)Cash and cash equivalents at beginning of year 839,173 1,010,755Cash and cash equivalents at end of year (Note 7) 1,461,631 839,173


1 General information

The financial statements of The Eurasian Association, Singapore (“Association”) for the year ended 31 December 2011 were authorised for issue in accordance with a resolution of the Management Committee on the date of the Statement by the Management Committee.

The Association was established in July 1919 and was registered in the Republic of Singapore as a Society on 15 January 1964.It was registered as a Charity on 27 June 1995 under the Charities Act, Chapter 27 and is recognised as an Institution of Public Character under the Income Tax Act, Chapter 134.

The registered office of The Eurasian Association, Singapore is located at 139 Ceylon Road, Singapore 429744.

The principal activity of the Association is to promote economic, social, cultural, moral, physical and intellectual advancement of all Eurasians in Singapore.

2(a) Basis of preparation

The financial statements have been prepared in accordance with applicable Singapore Financial Reporting Standards (“FRS”), including related Interpretations promulgated by the Accounting Standards Council, and Recommended Accounting Practice 6. The financial statements have been prepared under the historical cost convention, except as disclosed in the accounting policies below.

The financial statements are presented in Singapore dollars which is the Association’s functional currency. All financial information has been presented in Singapore dollars, unless otherwise stated.

The accounting policies used by the Association have been applied consistently to all periods presented in these financial statements.

The preparation of financial statements in conformity with FRS requires management to make judgement, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgement about carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised and in any future periods affected.

Critical assumptions used and accounting estimates in applying accounting policies are described below:

Impairment of property, plant and equipment Property, plant and equipment are reviewed to determine whether there is any indication that the carrying value of these assets may not be recoverable and have suffered an impairment loss. If any such indication exists, the assets are tested for impairment. The recoverable amounts of the assets are estimated in order to determine the extent of the impairment loss, if any. The recoverable amount is the higher of an asset’s fair value less costs to sell and value in use. Such impairment loss is recognised in the statement of comprehensive income.

Judgement is required in the area of asset impairment, particularly in assessing: (1) whether an event has occurred that may indicate that the related asset values may not be recoverable; (2) whether the carrying value of an asset can be supported by the net present value of future cash flows which are estimated based upon the continued use of the asset in the business; (3) the appropriate key assumptions to be applied in preparing cash flow projections including whether these cash flow projections are discounted using an appropriate rate. Changing the assumptions selected by the Management Committee to determine the level, if any, of impairment, including the discount rates or the growth rate assumptions in the cash flow projections could materially affect the net present value used in the impairment test and as a result affects the Association’s results.

Notes to the Financial Statementsfor the financial year ended 31 December 2011


2(a) Basis of preparation (cont’d)

Depreciation of property, plant and equipment Property, plant and equipment are depreciated on a straight-line basis over their estimated useful lives. Changes in the expected level of usage and technological developments could impact the economic useful lives and the residual values of these assets, therefore future depreciation charges could be revised.

Allowance for inventoriesA review is made periodically on inventories for excess inventories and decline in net realisable value below cost and a provision will be made against the inventory balance for any such decline. These reviews require management to estimate future demand for products. Possible changes in these estimates could result in revisions to the valuation of inventories.

Allowance for doubtful receivablesAllowance for doubtful receivables is based on an evaluation of the recoverability of other receivables. A considerable amount of judgement is required in assessing the ultimate realisation of these receivables, including their current creditworthiness, past collection history of each counterparty and ongoing dealings with them. If the financial conditions of the counterparties with which the Association contracted were to deteriorate, resulting in an impairment of their ability to make payments, additional allowance may be required.

2(b) New accounting standards and interpretations

Adoption of new or revised FRS On 1 January 2011, the Association adopted the new or amended FRS and Interpretations to FRS (“INT FRS”) that are mandatory for application from that date. This includes the following FRS and INT FRS, which are relevant to the Association:

FRS 32 Financial Instruments: Disclosure and Presentation: Classification of Rights Issues (Amendment to FRS 32) FRS 102 Group Cash-settled Share-based Payment Transactions (Amendments to FRS 102)INT FRS 119 Extinguishing Financial Liabilities with Equity Instruments Improvements to FRSs 2010

The adoption of these new/revised FRSs and INT FRSs did not result in substantial changes to the Association’s accounting policies nor any significant impact on these financial statements.

New accounting standards and interpretations not yet adoptedAt the date of authorisation of these financial statements, the following FRSs and INT FRSs were issued but not yet effective:

FRS 19 (revised) Employee Benefits FRS 27 (revised) Consolidated and separate financial statementsFRS 28 (revised) Investments in Associates and Joint VenturesFRS 101 Amendments to FRS 101 Severe Hyperinflation and Removal of Fixed Dates for First-time AdoptersFRS 107 Amendments to FRS 107 Disclosures – Transfers of Financial AssetsFRS 110 Consolidated Financial Statements FRS 111 Joint ArrangementsFRS 112 Disclosure of Interests in Other EntitiesFRS 113 Fair Value Measurements

The Management Committee does not anticipate that the adoption of other FRSs in future periods will have a material impact on the financial statements of the Association.

Notes to the Financial Statements (cont’d)

for the financial year ended 31 December 2011




2(c) Summary of significant accounting policies

Property, plant and equipment Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any.

The cost of property, plant and equipment includes expenditure that is directly attributable to the acquisition of the items. Dismantlement, removal or restoration costs are included as part of the cost of property, plant and equipment if the obligation for dismantlement, removal or restoration is incurred as a consequence of acquiring or using the asset.

Depreciation on other property, plant and equipment is calculated using the straight-line method to allocate their depreciable amounts over their estimated useful lives as follows:

Community building 30 yearsFurniture and fittings 5 yearsOther assets 3 - 5 years

The residual values, depreciation methods and useful lives of property, plant and equipment are reviewed and adjusted as appropriate at the reporting date.

Subsequent expenditure relating to property, plant and equipment that has already been recognised is added to the carrying amount of the asset when it is probable that future economic benefits, in excess of the standard of performance of the asset before that expenditure was made, will flow to the Association and the cost can be reliably measured. Other subsequent expenditure is recognised as an expense during the financial year in which it is incurred.

For acquisitions and disposals during the financial year, depreciation is provided from the month of acquisition and to the month before disposal respectively. Fully depreciated property, plant and equipment are retained in the books of accounts until they are no longer in use.

The gain or loss arising on disposal or retirement of an item of property, plant and equipment is determined as the difference between the sales proceeds and the carrying amounts of the asset and is recognised in the income statement.

GrantsGrants from organisations for the purchase of property, plant and equipment are taken to the deferred capital grants account. Deferred capital grants are recognised in the statement of comprehensive income on a systematic basis over the periods necessary to match the depreciation of property, plant and equipment which they are intended to compensate. On disposal of the property, plant and equipment, the balance of the related grants is recognised in the statement of comprehensive income to match the net book value of the property, plant and equipment disposed of.

Grants in respect of the current year’s operating expenses are recognised as income in the same year. Grants which are received but not utilised are included in the grants received in advance account. Grants are accounted for on an accrual basis.

InventoriesInventories are carried at the lower of cost and net realisable value. Cost is determined on a first-in, first-out basis, and includes all costs in bringing the inventories to their present location and condition.

Write-down is made, where necessary, for obsolete, slow-moving or defective inventories in arriving at the net realisable value. Net realisable value is the estimated selling price in the ordinary course of business less the estimated costs necessary to make the sale. The amount of any reversal of any write-down of inventories, arising from an increase in net realisable value, is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.




2(c) Summary of significant accounting policies (cont’d)

Financial assetsFinancial assets can be divided into the following categories: financial assets at fair value through profit or loss, held-to-maturity investments, loans and receivables and available-for-sale financial assets. Financial assets are assigned to the different categories by management on initial recognition, depending on the purpose for which the investments were acquired. The designation of financial assets is re-evaluated and classification may be changed at the reporting date with the exception that the designation of financial assets at fair value through profit or loss is not revocable.

All financial assets are recognised on their trade date - the date on which the Association commits to purchase or sell the asset. Financial assets are initially recognised at fair value, plus directly attributable transaction costs except for financial assets at fair value through profit or loss, which are recognised at fair value.

Derecognition of financial instruments occurs when the rights to receive cash flows from the investments expire or are transferred and substantially all of the risks and rewards of ownership have been transferred. An assessment for impairment is undertaken at least at each reporting date whether or not there is objective evidence that a financial asset or a group of financial assets is impaired.

Non-compounding interest and other cash flows resulting from holding financial assets are recognised in the statement of comprehensive income when received, regardless of how the related carrying amount of financial assets is measured.

The Association does not hold any financial assets at fair value through profit or loss, held-to-maturity investments or available-for-sale financial assets.

Loans and receivablesLoans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. They arise when the Association provides money, goods or services directly to a debtor with no intention of trading the receivables. They are included in current assets, except for maturities greater than 12 months after the reporting date which are classified as non-current assets.

Loans and receivables are recognised initially at fair value plus any directly attributable transaction costs. Subsequent to initial recognition, loans and receivables are measured at amortised cost using the effective interest method, less provision for impairment. Any change in their value is recognised in the statement of comprehensive income. Any reversal shall not result in a carrying amount that exceeds what the amortised cost would have been had any impairment loss not been recognised at the date the impairment is reversed. Any reversal is recognised in the statement of comprehensive income.

Receivables are provided against when objective evidence is received that the Association will not be able to collect all amounts due to it in accordance with the original terms of the receivables. The amount of the write-down is determined as the difference between the asset’s carrying amount and the present value of estimated future cash flows.

Loans and receivables comprise cash and cash equivalents and other receivables.

Cash and cash equivalents comprise cash and bank balances.





FundsThe Association maintains restricted and unrestricted funds. Funds set up for specific purposes are classified as restricted funds. All income and expenses, other than those attributable to restricted funds and common overheads are recorded in the unrestricted fund’s profit or loss.

In order to ensure the observance of limitations and restrictions placed on the use of resources available to the Association, the financial statements of the Association are maintained substantially in accordance with the principles of “fund accounting” whereby the resources for various purposes are classified for accounting and reporting purposes into funds that are in accordance with activities or objectives specified.

Financial liabilitiesThe Association’s financial liabilities include accruals and other payables.

Financial liabilities are recognised when the Association becomes a party to the contractual agreements of the instrument. All interest-related charges are recognised as an expense in “finance cost” in profit or loss. Financial liabilities are derecognised if the Association’s obligations specified in the contract expire or are discharged or cancelled.

Other payables are initially recognised at fair value, and subsequently measured at amortised cost, using the effective interest method.

Gains and losses are recognised in profit or loss when the liabilities are derecognised as well as through the amortisation process.

ProvisionsProvisions are recognised when the Association has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation.

The Management Committee reviews provisions annually and where in their opinion, the provision is inadequate or excessive, due adjustment is made.

Impairment of non-financial assetsThe carrying amounts of non-financial assets subject to impairment are reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication exists, the asset’s recoverable amount is estimated.

If it is not possible to estimate the recoverable amount of the individual asset, then the recoverable amount of the cash-generating unit to which the assets belong will be identified.

For the purpose of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (cash-generating units). As a result, some assets are tested individually for impairment and some are tested at cash-generating unit level.

Individual assets or cash-generating units are tested for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.





Impairment of non-financial assets (cont’d)An impairment loss is recognised for the amount by which the asset’s or cash-generating unit’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of fair value, reflecting market conditions less costs to sell, and value in use, based on an internal discounted cash flow evaluation. All assets are subsequently reassessed for indications that an impairment loss previously recognised may no longer exist.

All impairment losses are charged to the statement of comprehensive income.

An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount or when there is an indication that the impairment loss recognised for the asset no longer exists or decreases.

An impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined if no impairment loss had been recognised.

Employee benefits Pension obligationsThe Association contributes to the Central Provident Fund, a defined contribution plan regulated and managed by the Government of Singapore, which applies to the majority of the employees. Contributions to defined contribution plans are charged to the statement of comprehensive income in the period to which the contributions relate.

Employee leave entitlementsEmployee entitlements to annual leave are recognised when they accrue to employees. Accrual is made for the unconsumed leave as a result of services rendered by employees up to the reporting date.

Key management personnelKey management personnel are those persons having the authority and responsibility for planning, directing and controlling the activities of the entity. A key executive officer is considered key management personnel.

Related partiesFor the purposes of these financial statements, parties are considered to be related to the Association if the Association has the ability, directly or indirectly, to control the party or exercise significant influence over the party in making financial and operating decisions, or vice versa, or where the Association and the party are subject to common control or common significant influence. Related parties may be individuals or other entities.

Incoming resourcesDonations and income from fund raising projects are recognised in the financial statements as and when received. Donations received through the Central Provident Fund scheme are recognised on an accrual basis.

Revenue generated from social activities, events and programmes are recognised when services are rendered.

Grants and subsidies are recognised as income to match the related expenditure.

Rental income from leasing the premises is recognised on a straight-line basis over the lease term.

Interest income is recognised on a time-apportioned basis using the effective interest rate method.




3 Property, plant and equipment

Community building

Furniture and fittings

Office equipment

Other assets Total

$ $ $ $ $CostAt 1 January 2010 5,934,799 201,687 217,746 192,474 6,546,706Additions - 4,969 1,635 948 7,552At 31 December 2010 5,934,799 206,656 219,381 193,422 6,554,258Additions - - 11,181 49,668 60,849At 31 December 2011 5,934,799 206,656 230,562 243,090 6,615,107

Accumulated depreciationAt 1 January 2010 1,562,313 201,551 212,928 157,089 2,133,881Depreciation for the year 197,825 205 2,748 14,418 215,196At 31 December 2010 1,760,138 201,756 215,676 171,507 2,349,077Depreciation for the year 197,827 997 5,016 12,152 215,992At 31 December 2011 1,957,965 202,753 220,692 183,659 2,565,069

Net book valueAt 31 December 2011 3,976,834 3,903 9,870 59,431 4,050,038At 31 December 2010 4,174,661 4,900 3,705 21,915 4,205,181

Other assets comprise computers, motor vehicles, musical instrument, multimedia and video production equipment and renovations.

4 Inventories2011 2010

$ $

Inventories 2,698 68,875

Cost of inventories sold included in “Publications/sales of books” in statement of comprehensive income 8,471 11,347

During the year ended 31 December 2011, the Association wrote down inventories in the amount of $58,619 (2010: $nil) to reflect the decline in the net realisable value of the inventories. There was no write-down in value of inventories during the year ended 31 December 2010.




5 Other receivables2011 2010

$ $

CPF check-off contributions receivable 39,215 37,500 Sundry receivables 89,567 11,846 Amount owing by Singapore Indian Development Association (“SINDA”) 11,804 11,804Government matching grants receivable - Eurasian Community fund 200,000 200,000GST offset package 36,000 36,000

376,586 297,150Impairment loss on amount owing by SINDA (11,804) (11,804)

364,782 285,346

The amount due from SINDA, comprising cost recoverable from an event, is unsecured, interest free and repayable on demand.

Other receivables are denominated in Singapore dollars.

6 Deposits and prepayments2011 2010

$ $

Deposits 16,434 13,150 Prepayments 7,717 5,717 24,151 18,867

7 Cash and cash equivalents2011 2010

$ $

Cash and bank balances 1,358,257 736,191 Fixed deposits 143,374 142,982 Cash and cash equivalents 1,501,631 879,173 Less:Fixed deposits pledged (40,000) (40,000)Cash and cash equivalents in the statement of cash flows 1,461,631 839,173

Cash and bank balances and fixed deposits are denominated in Singapore dollars.

Fixed deposit are pledged to a bank as security for a bank’s guarantee related to the lease of the land for the Association’s building.

The weighted average effective interest rate of the fixed deposits is 0.05% (2010 – 0.19%) per annum.




8 Unrestricted funds

Unrestricted funds comprise the General Fund and the Eurasian Community Fund (“ECF”).

The ECF fund was set up in 1994 for the educational, social and economic advancement of the Eurasian community. It represents monthly contributions from the Eurasian community. This fund qualifies for a Government Grant on a dollar-for-dollar basis, up to a maximum of $ 200,000 (2010 - $200,000) per year.

9 Education fund

The fund was established in the 1930’s for the education needs of members of the Association.

10 Heritage endowment fund2011 2010

$ $Balance at beginning of year 125,000 125,000

IncomeInterest income from fixed deposits 738 -Total income 738 -

ExpenditureHeritage and Culture education (Note 17) (738) -Total expenditure (738) -

Balance at end of year 125,000 125,000

The fund has been set aside to generate income for the maintenance cost of the Heritage Centre in the Association’s building.

11 GST offset package fund 2011 2010

$ $

Balance at beginning of year 570 20

IncomeECF Contributions – CPF Check-off scheme 36,000 36,000 Government grants – others 36,000 36,000 Total income 72,000 72,000

ExpenditureFamily Support Service programmes expenditure (Note 21) (72,000) (71,450)Total expenditure (72,000) (71,450)

Balance at end of year 570 570

The GST-offset package fund is granted as part of the Singapore Government Budget Package 2009 to finance welfare-related programmes.




12 Opportunity fund2011 2010

$ $

Balance at beginning of year 43,442 108,802

ExpenditureEducation and training programmes expenditure (Note 16) (26,887) (65,360)Total expenditure (26,887) (65,360)

Balance at end of year 16,555 43,442

The opportunity fund is a dollar-for-dollar matching grant established under the Progress Package (Budget 2007) to finance education-related and enrichment programmes targeted at school children from low-income families. The opportunity fund did not generate income during the year ended 31 December 2010 and 2011.

13 Dr Paglar Scholarship fund2011 2010

$ $

Balance at beginning of year 94,243 -

IncomeIncome from sales of books 90 -Total income (A) 90 -

ExpenditureCost of Dr Paglar books sold (8,471) -Inventories write-down (58,619) -Total expenditure (B) (67,090) -

Transfer from Dr Paglar Scholarship project - special purpose funds (Note 14) (C)

- 94,243

Balance at end of year (A)+(B)+ (C) 27,243 94,243

The fund has been set aside to provide financial assistance to children of members to pursue continuing education in any field.




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15 Deferred capital grants2011 2010

$ $

Balance at beginning of year 3,736,322 3,933,727

ExpenditureGrants credited to statement of comprehensive income (197,405) (197,405) Balance at end of year 3,538,917 3,736,322

The total grants received since establishment amounted to $5,834,000 (2010 - $5,834,000).

16 Education and training programmes

2011Re-stated

2010$ $

Income from Events/ProgramsBridging programme 54,041 - Total income 54,041 -

Events/Programme expenditureBridging programme 52,531 (2,970)Bursary award Singapore Buddhist Lodge 2,700 2,550 Direct operating expenses 1,160 2,131 ECF Education awards 55,379 54,509 Temasek Care Education Bursary 22,973 -Tan Chin Tuan Awards 23,263 -Joint SHG Job Fair 470 - Joint Tuition awards 1,611 1,914 NEU PC Plus programme 593 620 Opportunity fund - Bata Shoes vouchers 4,483 10,705 Opportunity fund - Popular Book vouchers 22,030 53,718 Opportunity fund - Others 374 937 President Bursary award 8,696 13,430 Salaries and related Central Provident Fund contribution 46,301 41,647 Tuitions/Courses 2,784 3,104 Total expenditure 245,348 182,295

Funded by:Opportunity fund (Note 12) 26,887 65,360 Special purpose funds (Note 14) 164,420 104,735 Unrestricted funds 54,041 12,200

245,348 182,295




17 Heritage and culture education programmes2011 2010

$ $Income from Events/Programmes Heritage Centre Income 491 13,673 Heritage Fest 2011 9,000 6,000 Income from rental of costumes 540 610 Learning journeys fees 3,675 3,698 Sale of Books/Compact discs 4,012 2,949 Total income 17,718 26,930

Events/Programme expenditureBooks 2,491 767 Direct operating expenses 1,180 1,104 Heritage Centre expenses 6,000 6,000 Heritage Chingay 82 - Learning journeys 340 2,799 Total expenditure 10,093 10,670

Funded by:Heritage endowment fund (Note 10) 738 - Unrestricted funds 9,355 10,670 10,093 10,670

18 Youth and sports development programmes2011 2010

$ $Income from Events/ProgrammesFunctions/Activities - Bryan Davenport Soccer Tournament 40 - Soccer school 160 - Toastmaster 200 - Total income 400 -

Events/Programme expenditureEA Dragon Boat team 2,710 1,310 Mentoring Youth Leadership Network 215 188 Toastmaster 153 - Youth Mentoring - 121 Youth Outreach - 50 Total expenditure 3,078 1,669

Funded by: Unrestricted funds




19 Performing arts development programmes2011 2010

$ $Income from Events/ProgrammesConcert/Performances- Chingay Parade 2011 - 2,500 - Jingkli Nona Community Cohesion project - 6,038- Orange Ribbons - 450 Total income - 8,988

Events/Programme expenditureConcert/Performances- Chingay Parade 2011 6,691 8,603 - Inter-Racial Inter-Religious Harmony Night 1,616 62 - Orange Ribbons 228 120 Total expenditure 8,535 8,785


20 Community development and outreach programmes2011 2010

$ $Income from Events/ProgrammesChildren’s Christmas Treat fees 5,900 5,982 Christmas Carnival fees 556 1,020 Community Christmas Party fees 3,860 3,866 Fees from Monthly Community Development events 2,106 6,477 Health screening fees - 250 Movie Screening - 12 New Year’s Eve Ball fees 40,290 54,700 Other 172 -Total income 52,884 72,307

Events/Programme expenditureChildren’s Christmas Treat 4,875 4,354 Christmas Carnival - 150 Community Christmas Party 4,125 3,727 Direct operating expenses - 184 Health screening - 278 Monthly Community Development events 2,457 7,753 Movie screening - 31 New Year’s Eve Ball 36,634 46,780 Total expenditure 48,091 63,257





21 Family support services programmes

2011Re-stated

2010$ $

Income from Events/ProgrammesTotal income - -

Events/Programme expenditureActivities/events for Family Support Services families - 1,144Beyond Financial Assistance programme 367 3,078 Direct operating expenses 980 1,594 Emergency assistance 150 335 Financial assistance 112,651 179,340 Food rations and expenditures 17,547 30,698 GST Offset - Financial assistance 23,120 32,230 GST Offset - Food rations and expenditures 48,880 39,220 Ration Volunteers appreciation 2,813 5,316 RWS Voyage De La Vie 126 - Salaries and related Central Provident Fund contribution 53,921 64,761 Temasek Care Project Spark 856 1,575 Upkeep of Family Support Services rations delivery van 5,470 4,340 UPS Donation - 6,520 Total expenditure 266,881 370,151

Funded by:GST offset package fund (Note 11) 72,000 71,450 Special purpose funds (Note 14) 131,697 291,833 Unrestricted funds 63,184 6,868 Total 266,881 370,151

22 Other activities2011 2010

$ $Other IncomeMagazine Advertisement 900 300 Mandarin Conversation Course 2,100 - Rental - Hall/Meeting Room 14,281 10,360 Rental - Quentin’s 22,440 15,070 Studio/Guitar lessons 20,772 26,960 Swordsmanship fees 7,600 8,880 Total income 68,093 61,570




22 Other activities (cont’d)2011 2010

$ $Other ExpenditureAGM Expenses 1,778 468 Dance class 378 1,365 Event Expenditure 9,865 55 Mandarin Conversation Course 1,302 - Minister George Yeo’s Visit 1,020 1,538 MPH / Meeting room rental 1,054 - Music instructor fees 11,299 10,608 New Members’ Night - 339 Portuguese class 5,787 3,050 SR Nathan’s Visit 2,591 - Swordsmanship 5,320 6,216 The Portuguese Mission Project - 880 Total expenditure 40,394 24,519


23 Administration and governance costs2011 2010

$ $

Advertisement 470 2,940 Audit fees 30,580 17,100 Bank charges 2,347 1,538 Books and newspaper 610 777 Computer 7,610 11,310 General 1,935 4,219 Housekeeping & Laundry 1,244 - Insurance 7,839 8,092 Meetings and events 2,118 6,926 Membership Fee 26 54 Minor Equipment 669 588 Office supplies 2,154 1,707 Postage and courier 862 8,774 Printing and stationery 7,124 8,665 Professional fees 1,741 7,878 Salaries, bonus, allowances and Central Provident Fund contribution 284,962 273,714 Staff Welfare and medical 505 269 Telephone 4,356 4,935 Temporary services and volunteer management 960 767 Training 2,178 1,147 Transport 5,293 5,171 Utilities 62,755 64,580 Total expenditure 428,338 431,151





24 Eurasian community house

2011 2010$ $

House expenditureMaintenance and repair 62,402 75,960 Security cost 19,108 27,175 Temporary Occupation License fee 145,528 141,240 Total expenditure 227,038 244,375


The Association pays a Temporary Occupation License (“TOL”) fee yearly on the plot of land on which its building is located. A grant of equal amount, presented as “Government grants – TOL” in the statement of comprehensive income, is received from the Ministry of Community Development, Youth and Sports.

25 Taxation

The Association is an approved charity under the Charities Act, Chapter 37 and an approved Institution of Public Character under the Income Tax Act, Chapter 134. No provision for tax has been made in the financial statements as the Association is exempt from income tax.

26 Key management personnel

A key executive officer is considered key management personnel of the Association. Remuneration paid to the key executive officer is as follows:

2011 2010$ $

Salaries and related costs 86,122 83,113CPF contributions 10,845 9,798

96,967 92,911

27 Operating lease commitments

The Association as lessee

The Association leases the land for its building from the Singapore Land Authority (“SLA”). The lease expires in August 2014 with a renewal option. The lease expenditure is funded by a grant from the Ministry of Community Development, Youth and Sports.

The future minimum lease payments under non-cancellable operating leases in respect of the land is as follows:

2011 2010$ $

Not later than one year 139,380 92,920Later than one year but not later than five years 232,300 -Later than five years - -

371,680 92,920




27 Operating lease commitments (cont’d)

The Association as lessor

The Association leases a shop space to a third party. The lease expires in November 2013.

Rental receivable under the non-cancellable operating lease is as follows:2011 2010

$ $

Not later than one year 22,440 34,440Later than one year and not later than five years 20,570 43,010Later than five years - -

43,010 77,450

28 Financial risk management

Financial risk management objectives and policies

The Management Committee has overall responsibility for the establishment and oversight of the Association’s risk management framework.

The Association does not hold or issue derivative financial instruments for trading purposes or to hedge against fluctuations, if any, in interest rates and foreign exchange.

28.1 Credit riskCredit risk refers to the risk that counterparties may default on their contractual obligations resulting in financial loss to the Association.

The Association’s exposure to credit risk arises primarily from other receivables.

The Association establishes an allowance for impairment that represents its estimate of incurred losses in respect of other receivables. The allowance account in respect of other receivables is used to record impairment losses unless the Association is satisfied that no recovery of the amount owing is possible. At that point, the financial asset is considered irrecoverable and the amount charged to the allowance account is written off against the carrying amount of the impaired financial asset.

At the reporting date, other than as disclosed in Note 5, no allowance for impairment is in respect of other receivables based on the creditworthiness and past collection history of the counterparties.

Cash balances and fixed deposits are placed with reputable financial institutions.

28.2 Market riskMarket risk is the risk that changes in interest rates, foreign exchange rates and market prices will have on the Association’s income or the value of its holdings of financial instruments.




28 Financial risk management (cont’d)

28.2 Market risk (cont’d)Interest rate risk The Association’s exposure to changes in interest rates relates primarily to its variable rate fixed deposits.

For fixed deposits at variable rates, an increase of 50 basis points in interest rate at the reporting date would increase profit before tax and total funds by less than $1,000. A decrease of 50 basis points in interest rate would have an equal but opposite effect. This analysis assumes that all other variables, in particular foreign currency rates, remain constant and does not take into account the associated tax effect.

Foreign currency riskThe Association is not exposed to foreign currency risk as all financial assets and liabilities are denominated in Singapore dollars.

Price riskThe Association is not exposed to price risk as it does not hold any quoted available-for-sale investments.

28.3 Liquidity risk The Association maintains sufficient level of cash and cash equivalents to finance the Association’s operations and mitigate the effects of fluctuation in cash flows.

The table below analyses the maturity profile of the Association’s financial liabilities based on contractual undiscounted cash flows.

---------------------- Contractual cash flows -------------------Carrying amount Total

Less than1 year

Between 2 and 5 years

Over 5 years

$ $ $ $ $At 31 December 2011Accruals 81,946 81,946 81,946 - - Other payables 472,468 472,468 472,468 - - 554,414 554,414 554,414 - -

At 31 December 2010Accruals 36,924 36,924 36,924 - - Other payables 45,206 45,206 45,206 - - 82,130 82,130 82,130 - -

29 Fair values

The notional amounts of financial assets and liabilities with a maturity of less than one year (including other receivables, cash and cash equivalents, accruals and other payables) approximate their fair values because of the short period to maturity.

30 Funds management policy

The objectives of the Management Committee when managing funds are:

(a) to safeguard the Association’s ability to continue as going concerns; and(b) to provide capital for the purpose of promoting the economic, social, cultural, physical and intellectual

advancement of the Eurasian community in Singapore.




30 Funds management policy (cont’d)

The Management Committee actively and regularly review and manage its funds structure to ensure optimal capital structure, taking into consideration the future requirements, prevailing and projected profitability, projected operating cash flows and projected capital expenditures.

The Management Committee monitor funds using the annual-operating-expenditure-to-total-funds ratio.

2011 2010$ $

Annual operating expenditure (A) 1,698,481 1, 652,187

Total funds (B) 1,849,969 1,638,990

Annual-operating-expenditure-to-total-funds ratio (times) (A)/(B) 0.92 1.01

The Association is not subject to externally imposed capital requirements and the Association’s funds management policy remains unchanged from 2010.

31 Prior year adjustments

In the prior financial year, unrestricted funds were utilised to pay for expenditures incurred on education and training programmes and family support services which should have been funded by restricted funds.

The Management Committee has concluded that it is appropriate to restate the financial statements of the prior financial year to correctly present funding for the aforesaid education and training programmes and family support services from restricted funds.

The prior year adjustments, to the extent that they are applied retrospectively, have the following impact:

As reported Reclassification As re-stated$ $ $

Statement of comprehensive incomeEducation and training Programmes - Unrestricted funds (Note 16) 103,505 (91,305) 12,200 - Special purpose funds (restricted funds) (Note 14) 13,430 91,305 104,735Family support services - Unrestricted funds (Note 21) 78,729 (71,861) 6,868 - Special purpose funds(restricted funds) (Note 14) 219,972 71,861 291,833

Statement of financial position - Unrestricted funds 776,891 163,166 940,057- Special purpose funds (restricted funds) (Note 14) 568,677 (163,166) 405,511

32 Comparative information

Comparatives in the financial statements have been changed from the previous year due to the prior year adjustments as described in Note 31.


Contents Page

Statement by Trustee 54

Independent Auditor’s Report 55

Statement of Financial Position 57

Statement of Comprehensive Income 58

Statement of Changes in Accumulated Funds 59

Statement of Cash Flows 60

Notes to The Financial Statements 61

The Eurasian Association, Endowment Fund


We, Joseph Conceicao and Gerald Minjoot being two of Trustees of The Eurasian Association, Endowment Fund (“the Fund”), do hereby state that on behalf of the Trustees, that in the opinion of the Trustees, the accompanying statement of financial statements are properly are drawn up so as to give a true and fair view of the state of affairs of the Fund and as at 31 December 2011 and of the results, changes in fund and cash flows of the Fund for the financial year ended on that date; and at the date of this statement, there are reasonable grounds to believe that the Fund will be able to pay its debts as and when they fall due.

On Behalf of the Board of Trustees

JOSEPH CONCEICAO GERALD MINJOOTTrustee Trustee

Dated: 8th March 2012

Statement by Trustees for the financial year ended 31 December 2011


We have audited the accompanying financial statements of The Eurasian Association, Endowment Fund, which comprise the statement of financial position as at 31 December 2011 the statement of comprehensive income, statement of changes in accumulated fund and statement of cash flows for the year then ended, and a summary of significant accounting policies and other explanatory notes.

Trustees’ responsibility for the financial statements

The Trustees are responsible for the preparation and fair presentation of these financial statements in accordance with the provisions of the Endowment Fund Trust Deed (the “Deed”), Recommended Accounting Practice 6 and Singapore Financial Reporting Standards for devising and maintaining a system of internal accounting controls sufficient to provide a reasonable assurance that assets are safeguarded against loss from unauthorised use or disposition; and transactions are properly authorised and that they are recorded as necessary to permit the preparation of true and fair profit and loss accounts and balance sheets and to maintain accountability of assets.

Auditor’s responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Singapore Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation of the financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Independent Auditor’s Reportto the members of The Eurasian Association, Endowment Fund


Independent Auditor’s Report (cont’d)

to the members of The Eurasian Association, Endowment Fund

Opinion

In our opinion, the financial statements of the Fund are properly drawn up in accordance with the provisions of the Deed, Recommended Accounting Practice 6 and Singapore Financial Reporting Standards so as to give a true and fair view of the state of affairs of the Fund as at 31 December 2011 and the results, changes in accumulated fund and the cash flows of the Fund for the financial year ended on that date. Report on other legal and regulatory requirements

In our opinion, the accounting and other records required by the Deed to be kept by the Fund have been properly kept in accordance with the provisions of the Deed.

Foo Kon Tan Grant Thornton LLPPublic Accountants andCertified Public Accountants

Singapore, 8th March 2012


Statement of Financial Positionas at 31 December 2011

31 December 31 December2011 2010

Note $ $

AssetsNon-Current Held-to-maturity investments 3 772,340 773,449

Current Cash and cash equivalents 4 552,373 512,507Total assets 1,324,713 1,285,956

FundsAccumulated fund 1,320,213 1,282,956

LiabilitiesCurrent Accruals 4,500 3,000Amount owing to Eurasian Association 5 - -

4,500 3,000Total funds and liabilities 1,324,713 1,285,956



Statement of Comprehensive Income for the financial year ended 31 December 2011


Note $ $

Income:Interest income:- bank balances 44 73- fixed deposits 4,404 1,006- held-to-maturity investments 37,709 10,825

42,157 11,904Less: ExpenditureAudit fees 4,710 3,000Bank charges 84 34General and administrative expenses 106 265

4,900 3,299Surplus before taxation 6 37,257 8,605Taxation 7 - -Surplus for the year 37,257 8,605Other comprehensive income - -Total comprehensive income for the year 37,257 8,605



Accumulatedfunds

$

At 1 January 2010 1,274,351Total comprehensive income for the year 8,605At 31 December 2010 1,282,956

Total comprehensive income for the year 37,257At 31 December 2011 1,320,213

Statement of Changes in Accumulated Fund for the financial year ended 31 December 2011



Statement of Cash Flowsfor the financial year ended 31 December 2011


$ $

Cash Flows from Operating ActivitiesSurplus for the year 37,257 8,605Adjustments for:Interest income (28,526) (25,535)Operating deficit before working capital changes 8,731 (16,930)Decrease in receivables - 346Increase/(decrease) in accruals and other payables 1,500 (93,362)Cash used in operations 10,231 (109,946)Interest received 29,635 53,528Net cash generated from/(used in) operating activities 39,866 (56,418)

Net increase/(decrease) in cash and cash equivalents 39,866 (56,418)Cash and cash equivalents at beginning of year 512,507 568,925Cash and cash equivalents at end of year (Note 4) 552,373 512,507



1 General information

The financial statements of The Eurasian Association, Endowment Fund (the “Fund”) for the year ended 31 December 2011 were authorised for issue by the Board of Trustees on 8 March 2012.

The Fund was set up under a Trust Deed dated 30 August 1992.

The registered office of the Fund is located at 139 Ceylon Road, Singapore 429744.

The Fund has been established to provide welfare and financial assistance to the poor and needy among the Eurasian community.

2(a) Basis of preparation

The financial statements have been prepared in accordance with applicable Singapore Financial Reporting Standards (“FRS”), including related Interpretations promulgated by the Accounting Standards Council, and Recommended Accounting Practice 6. The financial statements have been prepared under the historical cost convention, except as disclosed in the accounting policies below.

The financial statements are presented in Singapore dollars which is the Fund’s functional currency. All financial information are presented in Singapore dollars, unless otherwise stated.

The preparation of financial statements in conformity with FRS requires the Trustees to make judgement, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgement about carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised and in any future periods affected.

Critical assumptions used and accounting estimates in applying accounting policies are described below:

Impairment of held-to-maturity investmentsAllowance for impairment loss on held-to-maturity investments is based on an evaluation of the recoverability of such investments. A considerable amount of judgement is required in assessing the recoverable amount which is based on the present value of estimated future cash flows, discounted at the original effective interest rate.

2(b) New accounting standards and interpretations

Adoption of new or revised FRS On 1 January 2011, the Fund adopted the new or amended FRS and Interpretations to FRS (“INT FRS”) that are mandatory for application from that date. This includes the following FRS and INT FRS, which are relevant to the Fund:

FRS 32 Financial Instruments: Disclosure and Presentation: Classification of Rights Issues (Amendment to FRS 32)

INT FRS 119 Extinguishing Financial Liabilities with Equity Instruments Improvements to FRSs 2010

The adoption of these new/revised FRSs and INT FRSs did not result in substantial changes to the Fund’s accounting policies nor any significant impact on these financial statements.

Notes to The Financial Statementsfor the financial year ended 31 December 2011


2(b) New accounting standards and interpretations (cont’d)

New accounting standards and interpretations not yet adopted

At the date of authorisation of these financial statements, the following FRSs and INT FRSs were issued but not yet effective:

FRS 12 Amendments to FRS 12 Deferred Tax: Recovery of Underlying AssetsFRS 19 (revised) Employee Benefits FRS 27 (revised) Consolidated and Separate Financial StatementsFRS 28 (revised) Investments in Associates and Joint VenturesFRS 101 Amendments to FRS 101 Severe Hyperinflation and Removal of Fixed Dates for First-time

AdoptersFRS 107 Amendments to FRS 107 Disclosures – Transfers of Financial AssetsFRS 110 Consolidated Financial Statements FRS 111 Joint ArrangementsFRS 112 Disclosure of Interests in Other EntitiesFRS 113 Fair Value Measurements

The Trustees do not anticipate that the adoption of other FRSs and INT FRSs in future periods will have a material impact on the financial statements of the Fund.

2(c) Summary of significant accounting policies

Financial assetsFinancial assets can be divided into the following categories: financial assets at fair value through profit or loss, held-to-maturity investments, loans and receivables and available-for-sale financial assets. Financial assets are assigned to the different categories by management on initial recognition, depending on the purpose for which the investments were acquired. The designation of financial assets is re-evaluated and classification may be changed at the reporting date with the exception that the designation of financial assets at fair value through profit or loss is not revocable.

All financial assets are recognised on their trade date - the date on which the Fund commits to purchase or sell the asset. Financial assets are initially recognised at fair value, plus directly attributable transaction costs except for financial assets at fair value through profit or loss, which are recognised at fair value.

Derecognition of financial instruments occurs when the rights to receive cash flows from the investments expire or are transferred and substantially all of the risks and rewards of ownership have been transferred. An assessment for impairment is undertaken at least at each reporting date whether or not there is objective evidence that a financial asset or a group of financial assets is impaired.

Non-compounding interest and other cash flows resulting from holding financial assets are recognised in profit or loss when received, regardless of how the related carrying amount of financial assets is measured.

The Fund does not hold any financial assets at fair value through profit or loss or available-for-sale financial assets.

Notes to The Financial Statements (cont’d)




Financial assets (cont’d)

Held-to-maturity investmentsIf the Fund has the positive intent and ability to hold debt securities to maturity, then such financial assets are classified as held to maturity. Held-to-maturity financial assets are recognised initially at fair value plus any directly attributable transaction costs. Subsequent to initial recognition held-to-maturity financial assets are measured at amortised cost using the effective interest method, less any impairment losses. Any sale or reclassification of a more than insignificant amount of held-to-maturity investments not close to their maturity would result in the reclassification of all held-to-maturity investments as available for sale, and prevent the Fund from classifying investment securities as held to maturity for the current and the following two financial years.

Held-to-maturity financial assets comprise quoted bonds.

Loans and receivablesLoans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. They arise when the Association provides money, goods or services directly to a debtor with no intention of trading the receivables. They are included in current assets, except for maturities greater than 12 months after the reporting date which are classified as non-current assets.

Loans and receivables are recognised initially at fair value plus any directly attributable transaction costs. Subsequent to initial recognition, loans and receivables are measured at amortised cost using the effective interest method, less provision for impairment. Any change in their value is recognised in profit or loss. Any reversal shall not result in a carrying amount that exceeds what the amortised cost would have been had any impairment loss not been recognised at the date the impairment is reversed. Any reversal is recognised in profit or loss.

Receivables are provided against when objective evidence is received that the Fund will not be able to collect all amounts due to it in accordance with the original terms of the receivables. The amount of the write-down is determined as the difference between the asset’s carrying amount and the present value of estimated future cash flows.

Loans and receivables comprise cash and cash equivalents and other receivables.

Cash and cash equivalents comprise cash and bank balances.

Income taxesThe Fund is a registered charity under the Charities Act, Chapter 37. It is exempt from income tax.

ProvisionsProvisions are recognised when there is a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. Present obligations arising from onerous contracts are recognised as provisions. The Trustees review the provisions annually and where in their opinion, the provision is inadequate or excessive, due adjustment is made.





Financial liabilitiesThe Fund’s financial liabilities comprise accruals.

Financial liabilities are recognised when the Fund becomes a party to the contractual agreements of the instrument. All interest-related charges are recognised as an expense in “finance cost” in profit or loss. Financial liabilities are derecognised if the Fund’s obligations specified in the contract expire or are discharged or cancelled.

Other payables are initially recognised at fair value, and subsequently measured at amortised cost, using the effective interest method.

Gains and losses are recognised in profit or loss when the liabilities are derecognised as well as through the amortisation process.

Related parties For the purposes of these financial statements, parties are considered to be related to the Fund if the Fund has the ability, directly or indirectly, to control the party or exercise significant influence over the party in making financial and operating decisions, or vice versa, or where the Fund and the party are subject to common control or common significant influence. Related parties may be individuals or other entities

Revenue recognition Interest income is recognised on a time-apportioned basis using the effective interest rate method.

3 Held-to-maturity investments 2011 2010

$ $Quoted bonds- 4.080% LTA bond (nominal amount - $360,000) 317,876 315,826- 4.826% JTC bond (nominal amount - $500,000) 454,464 457,623

772,340 773,449

These fixed rate bonds mature between May and November 2012.

4 Cash and cash equivalents2011 2010

$ $

Fixed deposits 477,597 473,193Bank balance 74,776 39,314

552,373 512,507

The weighted average effective interest rate on fixed deposits is 0.175% (2010 - 0.46%) per annum.

Cash and cash equivalents are denominated in Singapore dollars.

5 Amount owing to Eurasian Association

At 31 December 2009, the amount owing to the Eurasian Association, comprising mainly payments made on behalf of the Fund, was denominated in Singapore dollars, interest-free and unsecured. The amount was repaid during the year ended 31 December 2010.






6 Surplus before taxation

The Fund had no employees during the financial year ended 31 December 2011 and 2010. All manpower requirements were provided by the Eurasian Association without a charge.

7 Taxation

The Fund is a registered charity under the Charities Act, Chapter 37. No provision for tax has been made in the financial statements as the Fund is exempt from income tax.

8 Financial risk management

Financial risk management objectives and policies

The Trustees has overall responsibility for the establishment and oversight of the Fund’s risk management framework.

The Fund does not hold or issue derivative financial instruments for trading purposes or to hedge against fluctuations, if any, in interest rates and foreign exchange.

8.1 Credit riskCredit risk refers to the risk that counterparties may default on their contractual obligations resulting in financial loss to the Fund.

The Fund’s exposure to credit risk arises primarily from its held-to-maturity investments. At 31 December 2011, no allowance for impairment is required in respect of the held-to-maturity investments (2010 - Nil).

Cash balances and fixed deposits are placed with reputable financial institutions.

8.2 Market riskMarket risk is the risk that changes in interest rates, foreign exchange rates and market prices will have on the Fund’s income or the value of its holdings of financial instruments.

Interest rate risk The Fund’s exposure to changes in interest rates relates primarily to its variable rate fixed deposits.

For fixed deposits at variable rates, an increase of 50 basis points in interest rate at the reporting date would increase surplus before tax and accumulated fund by approximately $2,400. A decrease of 50 basis points in interest rate would have an equal but opposite effect. This analysis has not taken into account the associated tax effect and assumes that all other variables, in particular foreign currency rates, remain constant.

Foreign currency riskThe Fund is not exposed to foreign currency risk as all financial assets and liabilities are denominated in Singapore dollars.

Market price riskMarket price risk is the risk that the fair value or future cash flows of the Fund’s financial instruments will fluctuate because of changes in market prices. The Fund is not exposed to any movement in price risk as it does not hold any quoted or marketable financial instruments.




8 Financial risk management (cont’d)

8.3 Liquidity riskThe Fund maintains sufficient level of cash and cash equivalents to finance the Fund’s operations and mitigate the effects of fluctuation in cash flows.

The table below analyses the maturity profile of the Fund’s financial liabilities based on contractual undiscounted cash flows.

----------------------Contractual cash flows---------------------Carrying Less than Between 2 Over

amount Total 1 year and 5 years 5 years$ $ $ $ $

At 31 December 2011Accruals 4,500 4,500 4,500 - -

4,500 4,500 4,500 - -

At 31 December 2010Accruals 3,000 3,000 3,000 - -

3,000 3,000 3,000 - -

9 Fair values

The notional amounts of financial assets and liabilities with a maturity of less than one year (including other receivables, cash and cash equivalents and accruals) approximate their fair values because of the short period to maturity.

10 Funds management policy

The Trustees’ objectives when managing funds are: (a) To safeguard the Fund’s ability to continue as going concerns; and

(b) To provide capital for the purpose of providing welfare and financial assistance to the poor and needy among the Eurasian community.

The Trustees actively and regularly reviews and manages its funds structure to ensure optimal capital structure, taking into consideration the future requirements, prevailing and projected profitability and projected operating cash flows.

The Trustees monitors funds using the annual-operating-expenditure-to-accumulated-fund ratio.

The Fund’s funds management policy remains unchanged from 2009.

The Fund is not subject to externally imposed capital requirements.

2011Restated

2010$ $

Annual operating expenditure (A) 4,900 3,299

Accumulated fund (B) 1,320,213 1,282,956

Annual-operating-expenditure-to-accumulated-fund ratio (times) (A)/(B) 0.37% 0.26%

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Dear Member

ANNUAL GENERAL MEETING 2012

The Annual General Meeting of The Eurasian Association, Singapore, will be held at the Eurasian Community House, 139 Ceylon Road, Singapore 429744, on Friday 20 April 2012 at 7.30pm. Dinner will follow.

For administrative purposes (seating and catering), we would be most grateful if you could complete the response slip below, and fax or mail it to the Association by latest 2 April 2012.

Yours sincerely,

Jason Peter DendroffHonorary Secretary Eurasian Association

General ManagerEurasian Association139 Ceylon RoadSingapore 429744Fax: 6447 3189

ATTENDANCE AT THE EURASIAN ASSOCIATION AGM 2012(please tick as appropriate)

❑ I will attend the AGM on 20 April 2012

❑ I will have dinner

Name

NRIC No.

Telephone

Email

Signature Date

The Eurasian Association, Singapore139 Ceylon Road, Singapore 429744Tel: 6447 1578 Fax: 6447 3189

Proposer

I, (Name of Proposer),

NRIC No: (Proposer’s NRIC No.),

Propose: (Name of Nominee),

NRIC No: (Nominee’s NRIC No.),

to stand for (Post), for the term commencing in April 2012.

Signature (Signature of Proposer) Date

Seconder

I, (Name of Seconder),

NRIC No: (Seconder’s NRIC No.) seconded the proposal.

Signature (Signature of Seconder) Date

NomineeI hereby consent to the above nomination and to offer my services to the Eurasian Association if elected for the term commencing in April 2012.

Full Name: (Name of Nominee)

NRIC No: (Nominee’s NRIC No.)

Signature (Signature of Nominee) Date

This nomination form should be returned in person or sent by registered mail to the Association’s official address not later than 5pm on 5 April 2012. The envelope should be sealed and marked “Nominations for AGM”.

The Eurasian Association, Singapore139 Ceylon RoadSingapore 429744Tel: 6447 1578 Fax: 6447 3189

The Eurasian Association, SingaporeNomination Form

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Eurasian Community HousE139 Ceylon Road Singapore 429744tel: 6447 1578Fax: 6447 3189www.eurasians.org

Eurasian association, singapore

ChaRting the FutuRe - Eurasian Association · maintenance of the Eurasian Community House. Dreams...

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