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The Singapore Experience Creating our playing field for co-operatives

The Singapore Experience Creating our playing field for co-operatives. Chan Tee Seng Chairman Singapore National Co-operative Federation 6 th Asia Pacific Co-op Forum 4 th September 2010 Beijing, China. About Singapore. Population : 5m Size : 700 km 2 Economy :

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The Singapore Experience Creating our playing field for co-operatives

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  1. The Singapore Experience Creating our playing field for co-operatives Chan Tee Seng Chairman Singapore National Co-operative Federation 6th Asia Pacific Co-op Forum 4th September 2010 Beijing, China

  2. About Singapore Population: 5m Size: 700 km2 Economy: Export Driven service economy

  3. Co-operatives in Singapore Number of Affiliates: 72 Membership : 1.7 million Revenue : USD 3.5 billion

  4. Stretching the dollar • Modernisation seminar of the trade union movement (1969) • Formation of co-operatives to stretch the dollar of the worker

  5. Guiding Principles • Fully Competitive • Areas with natural built-in advantage • Professional Management • Strong Governance The late Dr Goh Keng Swee, former Deputy Prime Minister, Singapore

  6. Success of Singapore co-operatives • Earned the trust of the people • Business and operational excellence • Enabling policy framework

  7. Co-operatives: Doing Good

  8. Our co-operatives are market leaders Co-operatives Competitors 55% 20% – 40% 12%

  9. Co-ops: creating our playing field Private enterprise Govt. Co-ops VWOs

  10. 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

  11. 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

  12. 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

  13. 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

  14. 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

  15. Thank you

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