The Singapore Experience Creating our playing field for co-operatives Chan Tee Seng Chairman...
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Transcript of The Singapore Experience Creating our playing field for co-operatives Chan Tee Seng Chairman...
The Singapore Experience
Creating our playing field for co-operatives
Chan Tee SengChairman
Singapore National Co-operative Federation6th Asia Pacific Co-op Forum
4th September 2010Beijing, China
Population: 5m
Size: 700 km2
Economy: Export Driven service economy
About Singapore
Co-operatives in Singapore
NTUC Co-ops Non-NTUC Co-ops
Supermarket Insurance Child care Health care Elder care Food Housing Thrift & loan Media
Thrift and loan Campus / School Services
Security Food Bereavement Travel
Number of Affiliates: 72Membership : 1.7 millionRevenue : USD 3.5 billion
Stretching the dollar
• Modernisation seminar of the trade union movement (1969)
• Formation of co-operatives to stretch the dollar of the worker
Guiding Principles
• Fully Competitive
• Areas with natural built-in advantage
• Professional Management
• Strong GovernanceThe late Dr Goh Keng Swee, former Deputy Prime Minister, Singapore
Success of Singapore co-operatives
• Earned the trust of the people
• Business and operational excellence
• Enabling policy framework
Co-operatives: Doing Good
Our co-operatives are market leaders
Co-operatives Competitors
55%
20% – 40%
12%
Co-ops: creating our playing field
Private enterprise Govt.
VWOs
Co-ops
Example: supermarket services
• Basket of 400 essential items
• Ensure availability of essential items in times of crisis (e.g. rice)
• Competes on an equal footing with global competitors
Example: insurance services
• First co-operative started by the trade unions
• Market leader in Life, Health, and Motor Insurance
• Competes on equal footing with top international players
• Increased market share during global financial crisis
Example: child care services
•Took over 10 crèches from the Government in 1977
• Accessibility, Affordability, Quality
•One of two “anchor operators” in Singapore to help ambitious plans to increase child care services
Example: manpower services
• Founded by the Singapore Police Credit Co-op and Singapore Government Staff Credit Co-op
• Competes with large players like Cisco, Aetos.
•More than 500 guards
Conclusions
• Enabling policy framework – no overt policy discriminations
• Business and operational excellence – wean off initial Government subsidies.
• Maintain the trust of people in maintaining better price and quality
• Co-ops can position themselves as alternative delivery models for public or semi public services.
• Co-ops can create niches to compete with the private sector to deliver better value
Thank you