In The News

SNCF 28^th Anniversary Reception
Celebrating Our Resilience and Growth

Co-operatives are more resilient to crisis than other forms of enterprise according to a recent International Labour Office (ILO) study commissioned to the International Co-operative Alliance (ICA). Their social mission is again brought to the fore on 10 July 2009 when we commemorated our 28th Anniversary, in conjunction with the 87th International Co-operative Day.

Speaking to more than 150 fellow co-operators and invited guests at The Grassroots’ Club, our guest-of-honour Senior Minister of State for Trade & Industry and Education Mr S Iswaran is no stranger to the Singapore Co-operative sector. As Deputy Director (Special Projects) of the National Trades Union Congress (NTUC) in the early 1990s, the Minister reminisced with fondness about his involvement in NTUC-led co-operatives, especially that with NTUC Income and then-NTUC Childcare (now known as NTUC First Campus).

NTUC co-operatives, he lauded, serve as a benchmark, if not a check, on price and quality against other players in the economy which has been particularly important in the context of inflation last year and the current economic downturn.

Even as Singapore’s vibrant Co-operative Movement, with a membership of more than one million, has grown remarkably to become the largest local grassroots movement, one must not rest on its laurels. Indeed, our Executive Council Chairman Mr Chan Tee Seng revealed that SNCF is embarking on a Strategic Review to create a new vision for ourselves and the Co-operative Movement, and to define growth areas for more co-operatives that will meet the emerging social and economic needs.

To stay relevant to this changing economic landscape, Singapore’s co-operatives must re-examine how they can respond to socio-economic and demographic changes, Mr Chan added.