Happenings

Quotable Quotes at ICA GA

“Co-operatives are generally known more for reliability and incremental progress, rather than a snap of the fingers, lighting of a match magic. Yet, trustworthiness, sustainable growth and social missions have a place, a big place in this world. Indeed, cooperatives are the stuff of dreams too – a peaceful, evolutionary dream, into a common vision of a prosperous, united, caring and peaceful world.”
- Mr Seah Kian Peng, SNCF Chairman
click here for full speech

“It is particularly appropriate that the theme of this year’s General Assembly is ‘Innovation in Co-operative Business’.  This theme succinctly captures the opportunities for co-ops to make a difference in today’s challenging environment. 
The theme recognises that co-ops are business entities. Co-ops have to succeed commercially. Only then can they provide benefits to their members and the broader community.  Co-ops must aim for financial viability and build up surpluses for their long term sustainability.  Co-ops typically function in the commercial marketplace and compete with other types of business enterprises to serve customers.  As market participants, co-ops are subject to market trends and competitive forces.  Consequently, co-ops must embrace leading edge best practices to better serve their members and other stakeholders.”
- Dr Vivian Balakrishnan, Minister for Community Development, Youth and Sports
click here for full speech

“In short, co-operation has the creativity, the willingness to grow and rich entrepreneurial experiences, allowing it to achieve important results and build a sound basis, thus making it an important part of the economy and society of this century.”
- Mr Ivano Barberini, President, International Co-operative Alliance
click here for full speech

“In the era of the globalised free-market, the cooperative movement acts as the counter-weight to for-profit enterprises to ensure that the larger needs of society are served.  Indeed, I cannot imagine a type of enterprise or even social organisation that is better suited to reflect profit making as the means to generate social good than the cooperative model.”
- Mr Lim Boon Heng, Minister in the Prime Minister’s Office
click here for full speech

“Our NTUC Cooperatives are not business enterprises seeking to maximize profits for the benefits of shareholders. We are social enterprises seeking to do well (competitive and making profit) so that we have the resources to do good (maximise social impact). To us, measurement of greatness is how much social impact we have created, and not how much profit we have generated.
- Mr Lim Swee Say, NTUC Secretary-General
click here for full speech

Teo Say Hong Elected as the new Youth Representative on the ICA Board

The 2007 GA kicked off with the Global Youth Conference attended by more than 150 young delegates from 18 countries around the world. “Young leaders,” said Mr Ivano Barberini, “can help innovate and they need encouragement and opportunities. If younger people have an innovative spirit and older people have experience, it’s about mutual advantage.”

At the conference, Mr Teo Say Hong, the ICA Asia-Pacific Youth Committee Chair, was elected as the new Youth Representative on the ICA Board replacing Juan Carlos.

ICA General Assembly 2007
Welcome to Singapore!

The key ICA event, the biennial General Assembly, is taking place right here in Singapore at the Raffles Convention Centre. SNCF will be playing host to more than 1,000 global co-operators who will be in town for the week-long event starting on 13 October 2007 to 19 October 2007. The theme is ‘Innovation in Co-operative Business’. Click here for more information: www.icasingapore.coop

Implementation of the Self Evaluation Checklist

The Self Evaluation Checklist & Code of Governance for Co-operatives was launched after the completion of the consultation exercise by the Registrar to gather feedback and comments on the impending revision of the co-operative legislation.

The checklist aims to help co-operatives assess their level of compliance with the requirements as stipulated in the Code.  Completion of the checklist works on the basis of “comply and explain”.  That is, co-operatives are required to indicate compliance with the Code or explain non-compliance with the applicable guidelines.  They are also required to furnish an explanation as to why certain guidelines are not applicable to their co-operatives.