temasek polytechnic annual report 2014/2015

Transcription

Temasek Polytechnic Annual Report 2014/2015
S. 50 of 2015
Presented to Parliament pursuant to Statute.
Ordered by Parliament to lie upon the Table:
12 August 2015
TEMASEK POLYTECHNIC
ANNUAL REPORT 2014/2015
TEMASEK POLYTECHNIC
ANNUAL REPORT 2014/2015
Theme:
Sub-theme:
Bringing Education to Life and Life to Education
Growing With Purpose
1. MISSION & VISION
2. MESSAGE FROM CHAIRMAN AND PRINCIPAL & CEO
3. BOARD OF GOVERNORS
4. MAIN CONTENT
 HIGHLIGHTS OF THE YEAR IN REVIEW
Pages 1-6
 GOING FOR GOLD
Pages 7-22
o Student Academic Achievements
o All-Round Student Achievements
o Staff Achievements
 REDISCOVERING CLASSROOMS
Pages 23-35
o New Partnerships & Industry Collaborations
o Global Opportunities
 OPTIMISING FOR TOMORROW
Pages 36-46
o Academic & Student Development
o Capability Development
o Campus Development
 WORKING WITH THE COMMUNITY
o Giving Back to the Community
o Sharing Expertise with the Community
5. CORPORATE INFORMATION
6. FINANCIAL STATEMENTS
Pages 47-57
MISSION & VISION
Our Mission
To prepare school-leavers and working adults for a future of dynamic change, with relevant
knowledge, life-long skills, character, and a thirst for continuous improvement.
Our Vision
To be a world class institution in the global education network, reputed for our programmes,
applied research, managerial excellence and innovative corporate culture.
MESSAGE FROM CHAIRMAN AND PRINCIPAL & CEO
Temasek Polytechnic (TP) has come a long way since its beginning in 1990. Twenty-five years on,
close to 100,000 graduates had passed through its gates and gone on to pursue meaningful careers,
make an impact in their fields, and contribute to Singapore’s growth and development. We are
pleased to present TP’s annual report for the financial year ending 31 March 2015, sharing examples
of how we have worked together and grown with purpose.
To prepare school leavers for the working world, we are constantly improving and developing
ourselves in order to provide our students a myriad of opportunities for real-world learning. Working
with strategic partners is one of the ways we achieve that. This year, TP added to our staple of
partners through collaboration agreements with Pratt & Whitney Canada (SEA), NTUC Healthcare,
Barterfli Holdings and GAC Ventures. We also signed an MOU with multinational companies Pivotal
and EMC to establish a Data Science Academy at TP, the first in Singapore. These collaborations
mean greater opportunities for our students to learn from the experts and excel in their respective
disciplines.
A TP education is not confined to the classroom. This year, around 5,000 students were exposed to
real work environments through our Structured Internship Programme (SIP). They were attached to
MNCs, SMEs, government agencies and not-for-profit organisations locally as well as companies
overseas as far away as the Netherlands and the West Indies. Study trips to countries such as the
USA, New Zealand, and Germany provided our students with different perspectives and a broader
scope of learning.
As educators, we recognise that it is our responsibility to continually hone our practice and
pedagogy. This year, TP’s Learning Academy formalised guidelines for the design of future
pedagogical materials. A new character-based leadership programme, entitled Leadership: Essential
Attributes & Practices (LEAP), replaced its predecessor as a mandatory core module for all students.
In line with SkillsFuture’s recommendations, TP also launched the Career & Education Services
Centre (CESC) to help our students make better informed career and education choices in school and
beyond graduation.
TP’s strong culture of learning is evident even amongst staff. More than 800 learning spaces were
taken up by staff at Learning Academy Fest 2014, where they benefited from peer-taught workshops
as well as invigorating sessions helmed by master storyteller and author Dr Kendall Haven. About
200 staff members were also able to enrich their skills through new online programmes, which were
introduced this year to provide more flexible learning opportunities for staff. Leading the way, TP’s
management team also went back to school to enhance their leadership capabilities, attending the
executive programme on Public Administration and Management conducted by the Lee Kuan Yew
School of Public Policy.
The campus, too, has seen developments, with the new Temasek Tourism Academy and Aerospace
Hub providing state-of-the-art facilities to support our students’ learning. The Smart Campus project
was also launched this year, which will look into turning TP into a smart campus – using today’s
advances in information and communication technology to learn, teach and work better tomorrow.
At the heart of the matter, nurturing our students to become well-rounded individuals is the matter
of the heart. TP’s culture of caring continues to be reinforced with our staff and students
participating actively in charitable endeavours, whether at home or abroad. Beyond fundraising
activities, our students were able to tap into the knowledge and skills they gained from their courses
to help the less fortunate, even in regional countries such as the Philippines, Cambodia and Thailand.
Our students have also done well in local, regional and international competitions. At the 2014
WorldSkills Singapore Competition in July, our students did TP proud, winning five gold, one silver
and two bronze medals, and the five gold medallists have gone on to represent Singapore on the
world stage at the finals in Brazil. In sports, TP celebrated a total medal haul of 30, including 13 gold
medals, in the POL-ITE Championships 2014/2015 – our best sporting performance in our history of
participation in these championships. Team Temasek also defended its overall championship title in
the Rip Curl Singapore National Wakeboard Championships, while our Men’s Soccer Team regained
their title as champions of the S R Nathan Challenge Trophy.
Growth and change are never easy. We could not have made the progress without the dedication
and hard work of our colleagues and staff. We thank them for their continuing commitment to
bringing education to life and life to education at Temasek Polytechnic.
We would also like to express our deep appreciation to the members of the Board of Governors,
School Advisory Committees and industry partners for their contribution, guidance and support as
we work together to continue growing with a purpose in the years to come.
Lee Kok Choy
Chairman
Board of Governors
Boo Kheng Hua
Principal
CEO
TEMASEK POLYTECHNIC BOARD OF GOVERNORS
CHAIRMAN
Mr Lee Kok Choy
(w.e.f. 1 May 2014)
Managing Director and
Singapore Country
Manager
Micron Semiconductor
Asia Pte Ltd
MEMBER
Mr Boo Kheng Hua
Principal & CEO
Temasek Polytechnic
MEMBER
Mr Keith Budge
Vice President
Asia Pacific & Japan
Ooyala Inc.
MEMBER
Mr Gay Chee Cheong
Chairman
Board of Directors
Radcliffe Invertron Pte Ltd
MEMBER
Prof Kam Chan Hin
Senior Associate Provost
(Undergraduate
Education)
President’s Office
Nanyang Technological
University
MEMBER
RADM Lai Chung Han
(w.e.f. 1 May 2014)
Chief of Navy
Republic of Singapore
Navy
MEMBER
Mr Peter Lee Hwai Kiat
(w.e.f. 1 May 2014)
Chief Financial Officer
OSIM International Ltd
MEMBER
Mr Low Cheaw Hwei
Vice President
Global Head of Product &
Service Design
Head of Design, Asia
Philips Design
Philips Electronics (S) Pte
Ltd
MEMBER
Miss Ngiam Siew Ying
(w.e.f. 1 May 2014)
Senior Director
National Population and
Talent Division
Director
Policy & Planning
Director
Corporate Services
National Population and Talent Division
Prime Minister’s Office
MEMBER
Prof Alex Siow
Director
Strategic Technology
Management Institute
National University of
Singapore
MEMBER
Mr Sophian Abdul
Rahman
Acting Chief Executive
Officer
StemLife Berhad
MEMBER
Mr Tan Kai Hoe
President & CEO
Accuron Technologies
Limited
MEMBER
Mr Tan Peng Yam
Chief Executive
Defence Science &
Technology Agency
MEMBER
Mr Adrian Tan Soon Chye
Chief Executive Officer
The Ad Planet Group
MEMBER
Mr Andrew Tjioe Ka Men
(w.e.f. 1 May 2014)
Executive Chairman
Tung Lok Restaurants
(2000) Ltd
Tung Lok Group
MEMBER
Mr T K Udairam
Group Chief Executive
Officer
Eastern Health Alliance
MEMBER
Mr Wong Kang Jet
Director (Social)
Strategy Group
MAIN CONTENT
 HIGHLIGHTS OF THE YEAR IN REVIEW
Pages 1-6
 GOING FOR GOLD
Pages 7-22
o Student Academic Achievements
o All-Round Student Achievements
o Staff Achievements
 REDISCOVERING CLASSROOMS
Pages 23-35
o New Partnerships & Industry Collaborations
o Global Opportunities
 OPTIMISING FOR TOMORROW
Pages 36-46
o Academic & Student Development
o Capability Development
o Campus Development
 WORKING WITH THE COMMUNITY
o Giving Back to the Community
o Sharing Expertise with the Community
Pages 47-57
HIGHLIGHTS OF THE YEAR IN REVIEW
In January 2014, led by the team behind the Baking & Culinary Science diploma course, TP launched
a range of low glycaemic index (GI) baked rice and pasta meals for Bistrowalk café on campus, which
is also a social learning enterprise run by students. This move makes Bistrowalk the first F&B outlet
in Singapore to serve a complete low GI meal, and TP the only polytechnic to make low GI meals
available to its students.
In July 2014, TP announced the launch of a new diploma course in Big Data Management &
Governance, which saw its first batch of students in April 2015. With 4.4 million IT jobs expected to
be created globally in the coming year to support big data, this new diploma course aims to train and
prepare graduates to meet that growing manpower need.
Page 1 of 57
In July 2014, TP clinched a total of five gold, one silver and two bronze medals at the 2014
WorldSkills Singapore (WSS) Competition, in the graphic design technology, visual merchandising
web design, aircraft maintenance and mobile robotics categories. Five TP students went on to
represent Singapore at the finals of the 43rd WorldSkills Competition in São Paolo, Brazil in August
2015.
Page 2 of 57
In October 2014, commercialisation of the ‘ECC-Crete’ sandwich panel in-fill wall system started,
developed by the Green Materials team at the School of Applied Science, in collaboration with
Sembcorp EOSM. The system features Engineered Cementitious Composite (ECC), a breakthrough
material that is highly ductile, fibre-reinforced, and a possible solution for cost-effective mass
housing and disaster-proof housing. The success of this product has also led to an MOU between TP
and Semcorp EOSM in November 2014 to set up a Green Materials Sustainable Development Centre
to look into research and development of more green materials in future.
Page 3 of 57
On 18 July 2014, a project agreement was signed between AWAK Technologies Pte Ltd and TP to
develop a Home Haemodialysis Device, leveraging on the capabilities developed in the research and
development of the Automated Wearable Artificial Kidney (AWAK) by TP’s Biomedical Engineering
Research Centre. AWAK, first created in 2008, is a portable kidney dialysis machine that allows
kidney patients to undergo dialysis wherever they are just by wearing it on them, giving them
independence, versatility and a better quality of life.
The TP campus saw new buildings and facilities sprout up on campus this year. On 26 July 2014, the
new industry-sized aircraft hangar, part of the Aerospace Hub at the West Wing, saw the arrival of a
Hawker Siddeley 700A Private Jet, which will become a part of aerospace and aviation students’
training. The Temasek Tourism Academy was also completed in August 2014, a seven-storey building
set to elevate the level of experiential training for hospitality and events management students.
Page 4 of 57
On 29 August 2014, TP students emerged champions and first runner-ups at the the City Gas Young
Chefs Challenge 2014, and the champion team got the opportunity to assist Singapore’s national
team at the Expogast Culinary World Cup in Luxembourg. TP also flexed its culinary muscles in other
local and regional competitions, with Baking & Culinary Science and Culinary & Catering
Management students winning gold, silver and bronze medals in the California Raisin Junior Chefs’
Competition, inaugural Singapore Signature Food Challenge 2015, Penang Battle of the Chefs 2014,
first-of-its-kind 2014 Young Chefs Chinese Culinary Competition, as well as the international Food &
Hotel Asia 2014 Culinary Challenge.
On 21 November 2014, TP signed an MOU with multinational companies Pivotal and EMC to
establish a Data Science Academy at TP, the first in Singapore and also the first in an institute of
higher learning. The academy will support learning for full-time and part-time students in the areas
of big data management and business analytics, and will also offer short courses and programmes
for working adults.
Page 5 of 57
In November 2014, TP successfully licensed out to a Singapore company its patented technology
called “A Purge-Free Solid Polymer Fuel Cell System of Dead-End Mode”. This technological
breakthrough, thanks to two years’ of research and development under TP’s Clean Energy Research
Centre (CERC), is particularly suitable for underwater and aerospace applications, and is a significant
contribution in the global fuel cells market. In February 2015, CERC also successfully clinched a
Proof-of-Concept Grant from the National Research Foundation Singapore to work on improving the
technology.
On 29 January 2015, TP’s Men’s Soccer Team beat 11 other tertiary institutions to emerge victors at
the prestigious S R Nathan Challenge Trophy Soccer Tournament 2014/2015, the fourth time TP has
won this championship in the last five years. Team Temasek also performed exceptionally well in the
Polytechnic – Institute of Technical Education (POL-ITE) Games 2014/2015, with a total medal haul of
30, including 13 gold medals – the largest in TP’s history of participation in POL-ITE and the InstituteVarsity and Polytechnic (IVP) Championships.
Page 6 of 57
GOING FOR GOLD
TP recognises that educating students also includes encouraging them to aim high and stretch
themselves in order to overcome boundaries and discover new limits. One of the ways is through
participation in national and international competitions, which exposes them to industry practices
and boosts their confidence to strive towards excellence.
Student Academic Achievements
TP certainly made its mark at the 2014 WorldSkills Singapore (WSS) Competition in July 2014, taking
home three gold medals in the graphic design technology, visual merchandising and web design
categories, and two gold, one silver and two bronze medals in the aircraft maintenance and mobile
robotics categories. Five TP students went on to represent Singapore at the finals of the 43rd
WorldSkills Competition in São Paolo, Brazil in August 2015.
Page 7 of 57
A team of School of Informatics & IT students went up against teams of professionals from across
Asia to come in third in the Digital Media Asia Hack 2014, a unique competition to discover
innovative ways of consuming and sharing news. Organised by World Association of Newspapers and
Publishers (WAN-IFRA), the three-day ‘hackathon’ was open to developers, journalists, students and
those from the creative industry from all over Asia.
TP students truly proved their cross-disciplinary versatility this year, with School of Engineering
teams tapping on their business knowledge to secure wins. A team clinched the gold medal at the
5th LES Asia-Pacific Student Business Plan Competition (Singapore), held on 15 September 2014.
Combining engineering innovation with business strategies, the team set up and registered a
company specialising in designing rehabilitative products for the elderly, thereby tapping into the
growing silver market, with a flagship product, the Smart Walker, a walking stick that splits into two
to offer greater support. The team went on to represent Singapore at the International finals during
the 5th LES Asia-Pacific Regional Conference in Korea in November 2014, where they competed
against university teams from Japan, Korea, Hong Kong and India, and took home a bronze award.
Page 8 of 57
Another team of engineering students also harnessed their business skills to beat more than 150
teams from the ASEAN region, India and Europe to win the first runner-up position in the annual
Business Venture Challenge (Open Category) of the StartUp@Singapore competition held on 31 May
2014. They also emerged champions in the gruelling 90-Second Elevator Pitch category. Their
business concept revolved around elderly-centred products like the H-frame, a support frame that
can be collapsed into a single walking stick, which is currently being commercialised.
Meanwhile, a group of Financial Business Informatics students competed against 14 other teams to
emerge champions at the Singapore final of the Junior Achievement Company of the Year (JA COY)
Competition 2015 held on 17 January 2015. Over five months of planning and execution, under the
mentorship of TP and Bloomberg staff, the students learned how to start a company, sell shares of
their company, run different functional departments, and sell their upcycled products. Besides
promoting environmental awareness, the students also helped to train physically and intellectually
challenged residents at Sun Love Nursing Home and Singapore Cheshire Home to make
environmentally-friendly products and raised money for these two homes.
Page 9 of 57
This review year, TP once again flexed its culinary muscles in local and regional competitions. On 29
August 2014, TP students emerged champions and first runner-ups at the City Gas Young Chefs
Challenge 2014. The champion team of three students got the opportunity to accompany
Singapore’s national team to the Expogast Culinary World Cup in Luxembourg, where they assisted
the team in preparations and experienced what it was like to compete in an international arena.
Baking & Culinary Science and Culinary & Catering Management students also celebrated
championships in the California Raisin Junior Chefs’ Competition and the inaugural Singapore
Signature Food Challenge 2015. They also trumped young chefs from various culinary schools and
restaurants to bring home gold, silver and bronze medals from the Penang Battle of the Chefs 2014,
first-of-its-kind 2014 Young Chefs Chinese Culinary Competition, as well as the international Food &
Hotel Asia 2014 Culinary Challenge.
Page 10 of 57
TP students have also proven themselves to be at the forefront of scientific research. At the Young
Scientist Symposium 2015 on 17 March, Biotechnology student Lim Jia Ying was awarded the
Distinction Prize (Oral Presentation) for her study on stem cell growth stimulation, a step towards
helping the body heal itself. Through her study, she also made a breakthrough discovery of a
possible new method of ascertaining cell quality for use in clinical settings, exciting news for
scientists everywhere.
Page 11 of 57
The innovative inventions of TP students also gained recognition in national competitions. With their
project Al Remote, an app that enables smartphone users who have lost their phones to encrypt
their photos and files and sound an alarm remotely, a team of Cyber & Digital Security students took
home the gold medal at the Security Awareness for Everyone (SAFE) Programme Challenge,
organised by the Ministry of Home Affairs (MHA). Two Infocomm & Network Engineering students
also won a gold award in the Institution of Engineering Singapore (IES) Design Awards 2014. Their
entry, The Mobile Body Balance Coaching App, features a smartphone app that can be used by
physiotherapists in the rehabilitating of patients with balance issues.
Page 12 of 57
At the Singapore Robotic Games competition in January 2015, TP once again asserted its dominance
in the arena, winning a total of 10 awards – four gold, two silver, two bronze and two
Commendation awards, and retaining its crown in the Intelligent Robot category for the sixth
consecutive year.
This year, TP’s School of Design again netted a series of awards and accolades in design
competitions, including seven golds, nine silvers and 12 bronzes at The Crowbar Awards 2014, one of
the most prestigious local competitions in the creative advertising industry. Environment Design
students also won five awards at the Singapore Institute of Landscape Architects (SILA) Student
Design Award 2014, including the gold medal of the Belt Colins Award for Planting Design.
Page 13 of 57
TP Chemical Engineering students also proved their creative mettle when they upcycled discarded
items such as PVC tubes, acrylic, wire mesh and mosquito nets, turning them into a vertical farming
system to be used in households instead. This won them the first prize at the 2014 Youth for the
Environment Day (YED) Upcycling Competition on 19 April 2014, organised by the National
Environment Agency (NEA).
All-Round Student Achievements
TP’s achievements go well beyond the academic field, and into the areas of art, community service
and sports. In August 2014, Polytechnic Foundation Programme (PFP) student Vanessa Chea, with
her series of photographs depicting stunning perspectives of Singapore, won the junior category of
the City Development Limited (CDL) Singapore Young Photographer Award competition, which
attracted more than 1,500 submissions.
Page 14 of 57
On 21 June 2014, Psychology Studies student Jessica Ng and President of TP-Enactus, was named
Enactus Student of the Year for the second time in recognition of her commitment and passion
towards social causes. She also led the TP-Enactus team towards clinching the Spirit of Enactus
award at the Enactus Singapore National Competition, with two projects – one that supported the
rehabilitation of ex-drug offenders through sales of their art, and an online platform that promotes
freelance job opportunities for young ITE graduates who are certified beauticians. Jessica was also
invited to join the Singapore Enactus contingent at the World Cup in Beijing, China in October 2014.
Team Temasek performed exceptionally well in the Polytechnic–Institute of Technical Education
(POL-ITE) Games 2014/2015, with a total medal haul of 30, including 13 gold medals – the largest in
TP’s history of participation in POL-ITE and the Institute-Varsity and Polytechnic (IVP)
Championships, as well as the highest number of golds as compared to the other participating
institutions. The TP basketball, hockey, sports climbing and volleyball teams celebrated a clean
sweep in winning both the Men’s and Women’s team titles.
Page 15 of 57
In the Institute-Varsity and Polytechnic (IVP) Games 2014/2015, Team Temasek garnered three
golds, two silvers and four bronzes. Of special highlight, TP’s Men’s Soccer Team beat 11 other
tertiary institutions to emerge victors at the prestigious S R Nathan Challenge Trophy Soccer
Tournament 2014/2015. The high tempo match tested the boys’ resilience and fighting spirit, but
Team Temasek took home the championship cup after winning 7-6 on penalties. This is the fourth
time TP has won this championship in the last five years.
Team Temasek also did well in water sports, defending its Overall IVP Championship title in the 2014
Rip Curl Singapore National IVP Wakeboard Championships, marking its second consecutive and fifth
overall title win, and also finishing as champions amongst all universities, polytechnics and ITE for
the Tertiary Open category of the annual DBS Marina Regatta.
Page 16 of 57
The Sports Climbing Team also did TP proud, securing the overall championship title for the Varsity
Division in the National Schools Sports Climbing Championships (NSSCC) 2014. They also celebrated
championship victories in the Women’s Varsity and Men’s Varsity categories in the Climb X 2014
competition; the Women’s category in the inaugural National Schools Bouldering Championships;
and the overall, Women’s and Men’s categories of the inaugural POL-ITE Bouldering Championships
2014.
Page 17 of 57
Staff Achievements
For the second time in a row, Singapore’s national culinary team was named overall champion at the
Expogast Culinary World Cup in Luxembourg, beating 29 other countries including Norway,
Switzerland and Canada to clinch the prestigious title. TP is proud to celebrate this win with Chef
Randy Chow, Section Head of the Baking & Culinary Science course, who mentored the national
team to victory.
Page 18 of 57
On 18 July 2014, a project agreement was signed between AWAK Technologies Pte Ltd and TP to
develop a Home Haemodialysis Device, leveraging on the capabilities developed in the research and
development of the Automated Wearable Artificial Kidney (AWAK) by TP’s Biomedical Engineering
Research Centre. Funded by the Dutch Kidney Foundation, the project is also in collaboration with
Swiss company Debiotech SA, and will incorporate technologies created by Debiotech and TP.
AWAK, first created in 2008, is a revolutionary portable kidney dialysis machine that allows kidney
patients to undergo dialysis without being strapped to dialysis machines in centres, giving them
newfound independence, versatility and a better quality of life.
Three TP staff from the Schools of Design and Engineering, assisted by their students, collaborated
with Hyflux Ltd to design a first-in-the-market water filter for homes, dubbed the ‘Hyflex’ water
filter. This novel water filter promises more flexibility with an electronic indicator that alerts users
via SMS to change the cartridge based on how much, as opposed to how long, it has actually been
used, making it more efficient and cost-effective. The final prototype was printed using TP’s own 3D
printers in September 2014, and was presented to Hyflux Ltd, who are now looking into
commercialising it for the mass market.
Page 19 of 57
In January 2014, led by the staff behind the Baking & Culinary Science diploma course, TP launched a
range of low glycaemic index (GI) baked rice and pasta meals for Bistrowalk café on campus, which is
also a social learning enterprise run by students. This move makes Bistrowalk the first F&B outlet in
Singapore to serve complete low GI meals. The Glycaemic Index Research Unit in TP, the first
accredited GI testing facility in Asia, also secured a grant this year under the TOTE Board Social
Innovation Research Fund to conduct a research project on an in vitro method of determining the GI
of foods.
Page 20 of 57
In October 2014, commercialisation of the ‘ECC-Crete’ sandwich panel in-fill wall system started. The
system features Engineered Cementitious Composite (ECC), a breakthrough material that will spark
revolutionary new construction methods, developed by the Green Materials team at the School of
Applied Science in collaboration with Sembcorp EOSM. The development of the highly ductile fibrereinforced ECC stems from four years of research, and presents huge benefits including reduction of
waste, manpower and construction time. ECC could also be a possible solution for cost-effective
mass housing and disaster-proof housing. Thus far, Sembcorp EOSM has developed the product for
sale to local and overseas developers in India, Vietnam and Cambodia to create better living
environments. The success of this product has also led to an MOU between TP and Semcorp EOSM
in November 2014 to set up a Green Materials Sustainable Development Centre to look into
research and development of more green materials in future.
Page 21 of 57
In November 2014, TP successfully licensed out to a Singapore company its patented technology
called “A Purge-Free Solid Polymer Fuel Cell System of Dead-End Mode”. This technological
breakthrough, thanks to two years’ of research and development under TP’s Clean Energy Research
Centre (CERC), effectively removes excess water from fuel cell systems, thereby eliminating the need
for water purging to prevent flooding the system. This invention is particularly suitable for
underwater and aerospace applications where fuel and oxidant efficiency is critical, and is a
significant contribution in the global fuel cells market. TP’s CERC research team also successfully
clinched a Proof-of-Concept Grant from the National Research Foundation Singapore in February
2015 to work on improving the technology.
Page 22 of 57
REDISCOVERING CLASSROOMS
New Partnerships & Industry Collaborations
In line with its vision to prepare school leavers for the working world, TP offers its students a
myriad of opportunities for real-world learning – to build a strong foundation of knowledge and
skills in preparation for the industry and the globalised economy.
As the only polytechnic in Singapore to be certified by the Civil Aviation Authority of Singapore
(CAAS) as a SAR-147 Approved Maintenance Training Organisation (AMTO), TP’s Aerospace training
programmes already reflect the highest standards in aviation education. To further enhance the
comprehensive learning experience for students, TP signed agreements with EON Reality Pte Ltd on
9 September 2014 to create 3D interactive simulations relating to aerospace engineering, and with
Pratt & Whitney Canada (SEA) on 13 October 2014 to establish a cross-training partnership aimed at
developing a greater pool of talent geared for the aviation industry.
Page 23 of 57
On 21 November 2014, TP signed an MOU with multinational companies Pivotal and EMC to
establish a Data Science Academy at TP, the first in Singapore and also the first in an institute of
higher learning. The academy will support learning for full-time and part-time students in the areas
of big data management and business analytics, and will also offer short elective courses and a sixweek project programme to impart big data skillsets to working adults. The global big data market is
said to grow exponentially into a $50 billion industry within five years, thus making professionally
trained analysts and managers highly sought after to fill the skills gap in data sciences.
Page 24 of 57
TP continues to strengthen its expertise in the area of aquaculture, with new collaborations in
research, education and services in the aquaculture and veterinary industries. In April 2014, TP
teamed up with APOLLO Aquarium Pte Ltd to set up a Live Feed R&D and Production Centre, which
will see the development and commercialisation of enriched live feed for freshwater ornamental
fish. In the area of fish health management, TP has developed a lab testing method that is less timeconsuming and costly than what is currently in the industry, and has been appointed as one of
Merck, Sharpe and Dohme (MSD) Animal Health Innovation Pte Ltd’s diagnostic testing arms for
local and regional farms. TP also signed MOUs with new industry partners Oceanus Group Limited,
Institution of Aquaculture Singapore, and Singapore Institute of Engineering technologists to further
enhance the scope of aquaculture research and training. On 13 October 2014, TP signed an MOU
with the Fishery Research Institute of Shizouka Prefecture (FRISP) to establish joint research projects
and overseas staff exchange.
Page 25 of 57
Sustained industry collaboration spawns projects that both challenge TP students as well as the
status quo. To look into the best ways of presenting medical information to consumers, two groups
of Psychology Studies students undertook research projects with the Institute for Infocomm
Research (I2R) department under A*STAR. One group explored factors that affect medical
adherence, while the other group used eye-tracking devices to measure participants’ responses as
they read medical information. The findings from both studies have been reported back to the
research team at I2R.
Working with industry partners not only offers students additional motivation but also a sense of
pride when they see their hard work come to fruition. Philips Electronics Singapore Pte Ltd and TP
worked together on improving a prototype, which resulted in the launch of a new Philips Noodle
Maker for the local market. As part of the project, students and staff also specially developed ten
local noodle-based recipes that were incorporated into Philips’ recipe book that comes with the
machine.
Page 26 of 57
PLAY@TP, TP’s very own experiential learning pre-school academy, undertook a Proof-of-Concept
project called PLAYMAKER, in collaboration with the Information Development Authority (IDA). Over
three months, PLAY piloted age-appropriate educational toys that exposed pre-schoolers to
programming robots and assembling electronic parts. This learning process of inventing things
during their playtime sparks their curiosity in programming from an early age, and is in line with
Singapore’s Smart Nation vision.
.
Sometimes, learning from industry also means learning from the successes of those that came
before you. The School of Business organised the 2014 Entrepreneurs’ Forum on 6 December 2014,
which saw two of their alumni, now managing directors of their own events companies, speak to the
audience of 500 students, staff and invited guests.
Page 27 of 57
Taking hands-on design education to the next level, TP signed an MOU with the Singapore Discovery
Centre (SDC) that will see SDC sponsoring up to three major project films produced by Digital Film &
Television students to the tune of $10,000 per film, per year, for the next three years. A film gala
was organised on 3 June 2014 to screen some of the students’ final-year projects, including ‘Hero’,
which starred MediaCorp artiste Zheng Ge Ping as a single father who is forced to choose between
being a feared fighter in a gang or a role model for his daughter.
TP’s Student Internship Programme helps expose students to the working world, and instils in them
good work ethics and professionalism. In this review year, around 5,000 students were attached to
companies locally and overseas, including MNCs, SMEs, government agencies, not-for-profit
organisations, as well as umbrella organisations such as Singapore Manufacturer’s Association
(SMa), Singapore Business Federation (SBF), Singapore National Employer Federation (SNEF),
Singapore Human Resource Institute (SHRI), International Enterprise Singapore (IES) and SPRING
Singapore.
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TP’s School of Informatics & IT also signed MOUs with NTUC Healthcare, Barterfli Holdings and GAC
Ventures to look into student internships with major projects. This will see students working to
create an integrated IT solution for an eldercare centre under NTUC Healthcare, improve the user
interface and infrastructure of Berterfli’s e-commerce ecosystem, and enhance the IT competencies
for start-up companies under GAC companies.
Internships provide the opportunity to work on real projects, but two Biotechnology students took it
a step further, and went on to publish their research on effective DNA extraction and bacterial cell
production in scientific journals while interning at A*STAR. They were mentored by a team leader at
A*STAR, Dr Samuel Gan, who is also a TP Biotechnology alumnus.
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Global Opportunities
TP provides its students with global exposure through overseas student internships, study trips,
overseas community projects and more. Such opportunities help students gain a global
perspective, learn to appreciate foreign cultures, experience life in third world countries, and
realise the importance of communication and cross-cultural skills in an international context.
A total of 296 students benefitted from TP’s Overseas Student Internship Programme (OSIP) in this
review year, being attached to companies in more than 20 countries including Australia, France,
Ireland, Myanmar, Netherlands, Taiwan, UK, USA and West Indies. Over 15 percent of Hospitality &
Tourism Management final-year students were attached for six months to companies such as Four
Seasons Hotels & Resorts, Club Med, Fairmont Hotels & Resorts and Frasers Hospitality in China,
Malaysia, Mauritius, Maldives and South Korea. The Gerontological Management Studies course also
saw their first batch of OSIP students intern with the Institute of Vocational Education and Hong
Kong Polytechnic University – Institute of Active Ageing in Hong Kong, China. Their research projects
centred on gerontology issues, a significant field in both Singapore and Hong Kong.
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Students from Aerospace Engineering, Aerospace Electronics and Aviation Management & Services
were able to interact with staff and students in an aeronautical higher education environment at
world-renowned Embry Riddle Aeronautical University (ERAU) when they spent some time at its
Prescott campus on a study trip to Arizona, USA. They also visited significant aviation and aerospace
facilities like the US Airways Hanger in Phoenix, Maintenance Centre, Flight Simulation Centre, and
Safety Crash Investigation Lab.
Travelling overseas allows for learning experiences that Singapore might not offer. In October 2014,
32 Culinary & Catering Management students went on a study trip to New Zealand, where they
visited wineries, farms, orchards and food markets, and learnt more about agricultural processes,
food production as well as fresh game and dairy produce straight from the source. In March 2015, 22
Business Information Technology students flew to Germany to better understand the development
of Germany’s Information and Communications Technology (ICT) industry, and gain a deeper
appreciation of how the country’s rich history, natural reserves and culture have had an impact on
its economic and social developments over the years.
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Students’ own works have also opened global doors for them. Three abstracts for posters created by
Gerontological Management Studies students as part of their research project work were accepted
for exhibition at the 24th Alzheimer Europe Conference 2014 in Glasgow, Scotland. While there, they
also attended the conference, a master-class, a workshop at the Living Memory Association
Edinburgh’s Reminiscence Centre, and visited the Football Memory Project at the Scottish Football
Museum.
Based on a paper she had written, entitled “Challenges and Recommended Best Practices in
Attracting and Retaining the Next Generation of Aviation Professionals”, Aviation Management &
Services student Yeo XingJie was selected by CAAS to represent Singapore at the International Civil
Aviation Organisation (ICAO) Next Generation of Aviation Professionals (NGAP) Symposium and
Model Council Session held in Montreal, Canada in December 2014.
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Beyond academic experiences, TP also provides opportunities for our students to further other areas
that they are passionate about, through global experiences. TP’s Salvo Drums group, for example,
went on an Overseas Arts Leadership Programme (OALP) in December 2014 to Beijing, Quanzhou
and Chaozhou in China. There, our 25 students got the opportunity to exchange drumming
techniques, score composition and training methods with various drum troupes, including those
from Beijing University of Aeronautics and Astronautics. They also benefited from the exposure to
new arts cultures and exchange of ideas, while sharing about the Salvo Drums scene in Singapore as
well as school life in TP.
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Under TP’s Student Leadership Programme, 48 students embarked on an expedition to Pahang,
Malaysia in December 2014, where they were challenged with caving, abseiling, and white water
rafting. 28 other SLP students experienced the Outward Bound Taiwan Adventure Challenge in
March 2015, where they scaled Nan Hu Mountain’s North Peak, with an elevation of 3536m. Such
expeditions challenge students to push themselves beyond their own perceived limits, and inculcate
in them strong leadership and team skills, resilience and a spirit of adventure.
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In this review year, TP continued to engage with partners from around the world, hosting
delegations from 15 countries including Czech Republic, Grenada, Mexico, Russia, Saudi Arabia,
Sultanate of Oman and Switzerland. These visits not only open up new international partnerships
and opportunities for student learning and joint initiatives, but also help raise awareness of TP as an
educational institute of high quality.
TP also celebrated its annual Global Community Day (GCD) on 7 November 2014, jointly organised by
its International Relations & Industry Services Department and Centre for TransCultural Studies.
With the theme of Expressions Beyond Singapore, staff and students were given the opportunity to
learn about arts and cultures of various countries, such as Khmer food, Saudi Arabian Bedouins, the
sounds of an Indonesian angklung, or the flamboyant Spanish flamenco dance.
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OPTIMISING FOR TOMORROW
Tomorrow can only get better. Not a polytechnic to rest on its laurels, TP constantly seeks to
change, innovate and upgrade to stay relevant, and to be in the best position to prepare today’s
youth to not only meet but excel in the challenges of tomorrow.
Academic & Student Development
In July 2014, TP announced the launch of a new diploma course in Big Data Management &
Governance, which saw its first batch of 40 students in April 2015. With 4.4 million IT jobs expected
to be created globally in the coming year to support big data, this new diploma course aims to train
and prepare graduates to meet that growing manpower need. With Singapore’s big push to become
a Smart Nation, even more data sciences and analytics professionals will be needed by businesses,
the Government and ICT companies.
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TP’s Learning Academy designed two structured guidelines to ensure all teaching materials are
designed according to best practices and support preparation of TP’s graduates for the industry. One
is a pedagogical model titled The Practice-Based Pedagogical (PBP) Model, while the other is the
e3Learning Framework, designed to support the PBP Model, to help promote self-directed learning
using information and communications technology (ICT).
To streamline students’ study resources, Marketing lecturers launched the Marketing Book,
published by McGraw Hill, in October 2014. The book provides comprehensive notes culled from
three marketing textbooks, better reflects lecture topics, and serves as required text for students
taking marketing as a subject, as well as a reference book during open book examinations.
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TP signed an agreement with the Association of Chartered Certified Accountants (ACCA) to enable
Accounting & Finance students to study for the ACCA qualification five months ahead of their
graduation, thanks to ACCA’s Accelerated Pathway Programme (AAPP). Under this programme,
students only need to complete another four papers to be awarded ACCA’s Advanced Diploma in
Accounting and Business, a step towards an ACCA qualification.
Workforce Development Agency (WDA) partnered TP to pilot a Pre-Internship Programme, aimed at
equipping final-year students with the right productivity mindset and work values in preparation for
the workforce. In April 2014, 110 TP students attended a three-day workshop run by the Singapore
Productivity Association which included interactive discussions, role play, and company visits. With
the success of the pilot programme, WDA has agreed to fund a Pre-Internship Programme for TP’s
School of Informatics & IT over the next two years which will benefit 1,000 students, as well as a
Train-The-Trainers Programme for 20 staff.
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In line with SkillsFuture, a new Career & Education Services Centre (CESC) was established in TP on 1
January 2015 to help students make better informed career and education choices in school and
beyond graduation. The Centre will offer job preparatory programmes, career advisory services and
job placement services to students and alumni. At the same time, it will also conduct talks and
workshops to promote polytechnic education awareness amongst secondary school students,
parents and teachers.
Character development is also very important in developing students holistically to become wellrounded individuals. TP conducted Habitudes enrichment workshops, designed by Dr Tim Elmore, for
a total of 593 students this year. The students were exposed to timeless character and leadership
principles through images, stories and experiences. A new programme, Leadership: Essential
Attributes & Practice (LEAP) was also implemented in this academic year, focusing on characterbased leadership. As a TP Core module, all students undertake LEAP as part of their graduation
requirements. This programme replaces its predecessor, the Applied Principles for Effective Living
(APEL).
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Capability Development
Investing in formal upgrading keeps TP staff ever relevant in their fields to impart up-to-date
knowledge and practices to their students. This year, TP awarded sponsorships to eight staff
members to pursue under- and postgraduate studies in areas such as International Business,
Business Analytics, Technopreuneurship, Computing, Engineering and Aeronautics, while 25 staff
members were awarded sponsorships for Certificate and Diploma programmes.
TP management lead by example when it comes to capability development. TP’s Principal & CEO, Mr
Boo Kheng Hua, conducted PCEO Forum and PCEO Connect for two groups of staff, engaging them in
TP’s 7 Leadership & Management Disciplines. In the area of leadership development, TP’s Senior
Management attended the executive programme on Public Administration and Management by Lee
Kuan Yew School of Public Policy. On 6 February 2015, TP also held its first Annual People Developer
(PD) Managers’ Platform, which allowed the six schools to present their capability development
plans so as to achieve synergy across TP and develop emerging technical capabilities at an
organisational level.
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The TP Way, TP’s three-year competency building journey for staff, saw enhancements to its
roadmaps, and now boasts 103 learning programmes, with the inclusion of new team-based
programmes, five learning activities related to industry engagements, as well as a new programme,
‘Supporting Students with Special Education Needs’. On average, each staff member participated in
six programmes or an equivalent of 33 learning hours. Online learning was also introduced to
provide staff flexible learning opportunities. A range of 75 programmes covering leadership,
management, team and workplace effectiveness were taken up by about 200 staff.
TP’s Centre for Character & Leadership Education (CCLE) piloted two LeadMAX workshops for staff
between October 2014 and March 2015. A character-based leadership programme based on training
resources developed by Dr John C. Maxwell, these workshops were conducted during lunch time
over five weeks, and staff found them especially helpful for their personal growth and leadership
effectiveness. Based on this positive feedback, more workshops for staff were scheduled to run in
the following academic year, and CCLE would also be piloting these workshops for students.
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Each year, TP’s Learning Academy hosts a festival that promotes a culture of learning among the
staff. LA Fest 2014 focused on the theme of storytelling, with story consultant and author Dr Kendall
Haven delivering the keynote address, Your Brain on Story: The Pedagogical Impact of Story Science
for Polytechnic Education. Over 800 staff also benefited from the 13 peer-taught fringe workshops
held in conjunction with the learning festival. The main ceremony also saw 61 TP lecturers receiving
their Teaching in Higher Education Certificate (THEC), the 18th batch to do so.
TP held its 8th Character & Leadership Education Forum from 9 to 11 July 2014. Staff gathered at the
Temasek Convention Centre and enjoyed limited-license Leadercast© videos featuring outstanding
leadership experts Andy Stanley, Jack Welch, John C. Maxwell, Marcus Buckingham, Patrick Lencioni,
Sheena Iyengar and Simon Sinek, followed by facilitated discussions on the learning points of each
video. The forum reached out to more than 600 participants, including TP’s industry partners.
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Staff also stay abreast with industry developments in global markets. Marcus Heng, Section Head of
Product & Industrial Design, attended the Annual Furniture Design Study Trip in Japan, jointly
organised by the Singapore Furniture Industries Council and SPRING Singapore in May 2014. He was
one of 19 delegates from independent designers, entrepreneurs and design institutions who were
able to gain an in-depth understanding of the craftsmanship and manufacturing facilities in Japan.
Tan Li Fern from TP’s Office of Learning Technologies presented her research paper which explored
learning via Massive Open Online Courses (MOOCs), at the 22nd International Conference on
Computers in Education (ICCE 2014), held in Nara, Japan in November 2014. This conference also
provided her professional insights into computer-based pedagogies and research practices in
teaching and learning, allowing her to keep up to date with current trends and innovations that
support technology-enhanced education.
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Campus Development
August 2014 saw the completion of the Temasek Tourism Academy (TTA), a seven-storey building
set to elevate the level of experiential training for Hospitality & Tourism Management and Leisure &
Events Management students. The TTA boasts impressive facilities including a hotel lobby,
hospitality learning stage, tourism technology rooms, student clubhouse, a spa and wellness centre,
event management ideation rooms, and interactive exhibition spaces.
Incoming aerospace and aviation students in 2015 will be amongst the first to train with a Hawker
Siddeley 700A Private Jet, one of the best in its class, which arrived in TP on 26 July 2014. It sits in
TP’s new industry-sized aircraft hangar, part of the new Aerospace Hub at the West Wing – 6,000
square metres of state-of-the-art facilities including two full-motioned flight simulators, R&D labs, an
Aviation Discovery Centre, and solar panels on the roof. Resembling an actual aircraft maintenance
centre, the hangar is equipped with the latest aircraft maintenance manuals, tools, avionics test
equipment and ground support equipment to facilitate aircraft practical training lessons.
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TP launched the Smart Campus project to create a smart campus platform that aims to improve the
experience of learning, teaching and working at the polytechnic. Industry partners that TP will be
collaborating with include Cisco Systems, EMC Computer Systems, Johnson Controls, SAS Singapore,
as well as National Computer Systems, with whom TP signed an MOU in January 2015. The Smart
Campus project will allow the secure collection, analysis and evaluation of rich data that can help to
create innovative solutions and services for the TP community. The platform will be a standards
based pilot site aligned to what the Infocomm Development Authority of Singapore (IDA) Smart
Nation Platform is building. New ideas from staff and students will be considered to see if they can
be piloted and rolled out where suitable.
Upgrading of TP’s iconic library commenced in March 2014, to streamline facilities and create new
study and activity spaces such as Makerspace, Community Space, Quiet Zone and Learning Pods to
provide a more dynamic learning environment for students, as well as communal spaces to promote
collaborative work and exhibitions. The upgrading works are expected to be completed by October
2015. A new Library Mobile Web (HTML5) app was also released on 30 December 2014, the product
of collaboration between School of Informatics & IT staff and students and the TP Library. On top of
offering library services on the go, the app also provides quick and easy access to research tools such
as citation help, which can greatly help students in their work.
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TP’s Security Industry Institute (SII) moved from its old facility to its new location at the Lifelong
Learning Institute on 1 December 2014. The newly renovated 7,500 square foot space is equipped
with state-of-the-art training facilities specially designed for security training. Over this review year,
SII continued to conduct the full suite of Security WSQ training – at the Certificate, Advanced
Certificate and Diploma levels respectively – and trained 1,274 workers with a total achievement of
2,783 Statements of Attainment (SOAs). It also successfully helped 573 workers find jobs.
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WORKING WITH THE COMMUNITY
Giving Back to the Community
TP is a polytechnic that cares, and believes in giving back to the community. Hence, students are
always encouraged to use their knowledge and skills to benefit others, especially the less
fortunate, whether in Singapore or overseas.
During the TP Open House from 8 to 10 January 2015, students from the School of Informatics & IT
conducted a Code for Charity event in collaboration with the Infocomm Development Authority of
Singapore (IDA), which saw secondary school students doing simple programming to unlock $20 to
$100 in sponsored donations depending on the difficulty of the coding challenge. TP successfully hit
their target to raise $15,000 that would go towards helping less-privileged students in TP. This was
part of a polytechnic-wide effort that eventually contributed a combined sum of $80,000.
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In this review year, TP’s School of Engineering students collaborated with the Singapore Association
of the Visually Handicapped to create two useful inventions. One was i-Guide, an Augmented Reality
(AR) application that allows the elderly and visually impaired to utilise a smartphone camera to scan
over buttons of their home appliances and have their function read aloud to them. Another was
Follow Me, a robotic dog for the blind, which dispenses the need for a real dog which may be costly,
difficult to train, and forbidden in certain public areas. The students are now working with TP
Entrepreneurship Centre to secure funding to explore commercialisation options for these two
products, while also constantly tweaking and improving on them.
TP students were also able to help the less privileged overseas. Over a week during their vacation
period in September-October 2014, 15 Biotechnology and Veterinary Technology students went on
an Overseas Community Programme (OCP) to the Yayasan Radmila Children’s Home in Batam, also
as part of their Sustainable Community Development cross-disciplinary module. There, they shared
their knowledge on sustainable development with 61 children and teenagers from disadvantaged
backgrounds, to educate them and help them grow vegetables and rear catfish for more sustainable
living.
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In March 2015, as part of a programme supported by People’s Association, 27 TP student leaders
also embarked on an OCP to Bohol, Philippines, where they contributed towards improving
conditions of some of the classrooms at San Isidro Elementary School, which had been damaged by
the 2013 Bohol earthquake. Utilising their skills to help the global community, School of Engineering
staff and students also designed and fabricated solar power distribution panels and solar LED lamps
to help villagers in provinces in Cambodia and Chiang Mai, Thailand.
The TP family also come together in the spirit of giving. TP’s Community Service Club (CSC) and
Adventure Club students worked closely together to organise the inaugural charity fun run ‘Chasing
Rainbow’ on 21 January 2015. The run was fully subscribed, with 250 specially designed T-shirts sold
for the occasion, raising over $4,000 on behalf of Club Rainbow, a registered charity committed to
helping children and youths who suffer from chronic and terminally ill conditions.
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Twice a year, TP holds its Campus Care Network (CCN) Day, a long-held tradition where staff and
students put up a campus-wide bazaar and online sale to raise money that will help financiallystruggling students continue their education at TP. This year, Marketing students worked with
industry partner NETS Singapore, who supported the event by offering their Youth NETS FlashPay
Card free of charge to students, and donating $1 per card given out, which amounted to $1,864 for
CCN. The two CCN Days held during the last review year raised a total sum of about $75,000 for TP’s
financial assistance fund.
TP students are also actively involved with the local community. TP’s Centre for Ageing Studies (CAS)
together with Psychology Studies students worked with People’s Association (PA) to gather feedback
on existing services, identify residents’ needs and conceptualise new programmes for the upcoming
Tampines Town Hub, in order to foster greater intergenerational and community bonding for
Tampines residents.
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Recognising the need to promote health awareness amongst seniors, staff and students from
Pharmaceutical Science partnered the North East Community Development Council (NECDC) to
make door-to-door visits to elderly residents to help them better understand safe use of medication.
Alumni from the course also came back to volunteer their time and efforts for this worthy
programme.
TP’s School of Informatics & IT Studies Club also partnered the IDA for its annual Silver Infocomm
Day 2014, which saw close to 300 senior citizens attend workshops which taught everything from
sending emails, to watching entertainment on computers, and learning to use tablets and
smartphones. The students, who prepared the labs and conducted the workshops, were all
impressed by the perseverance of the elderly participants who proved that there is no age limit to
learning.
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Staff, too, set a good example in charitable endeavours. 2014 marked the third year that TP was
accorded the SHARE Platinum Award from Community Chest of Singapore. More than 90 per cent of
staff support the SHARE programme by pledging monthly donations deducted from their salaries. TP
has been supporting this charity programme since 1991.
Not all acts of community service are for the less fortunate; some are to be enjoyed by everyone.
School of Design lecturers, students and alumni worked together to produce the “Very Light
Exhibition – Be Present” as part of the Singapore Night Festival 2014 which ran for two weekends in
August 2014. The project showcased hundreds of helium-filled balloons, each inserted with a
flickering neon light, as a reflection of everyday interactions. Design students also collaborated with
Sentosa Development Corporation to run a year-end holiday season crafts fair at the Sentosa
Boardwalk, selling unique gift items they hand-crafted.
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TP Early Childhood Studies students collaborated with Tampines Regional Library in a community
project called Story Joy, which saw them conducting story-telling and creative art sessions for young
children at the library every third Saturday afternoon between July and November 2014. These
sessions gave the students a good chance to interact with little ones, practice what they’ve learned
in class, as well as boost their confidence.
As part of SG50 celebrations, the TP Salvo Drums Troupe performed at the SG50 Percussion 101
Concert at the Botanic Gardens on 4 January 2015, where they were very well-received by the
audience of more than 2,000 spectators. This led to them being invited to perform for MediaCorp’s
The 5 Show in February 2015, which also gave the students and the troupe an opportunity for media
exposure.
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Sharing Expertise with the Community
TP continues to support the manpower talent development of Singapore’s workforce by tapping on
our staff capabilities to provide training for lifelong learners. Our Professional Development Centre
not only offers programmes for working adults to upgrade their skills and qualifications, but also
conducts customised training programmes for many organisations including Integrated Health
Information Systems Pte Ltd, the Law Society of Singapore, the Ministry of Manpower, Novartis
Singapore Pharmaceutical Manufacturing Pte Ltd, the Singapore Police Force and Wildlife Reserves
Singapore.
In January and February 2015, in collaboration with the Ministry of Foreign Affairs (MFA), TP also
conducted courses teaching Intermediate English to Senior Lao officials led by the Vice-Minister of
Foreign Affairs, Lao PDR, as well as courses on Tourism Management and Destination Marketing for
participants from different countries under the Singapore Cooperation Programme.
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In line with promoting continuing education, TP also launched the first-of-its-kind Biologics Overseas
Skills Training Programme (BOOST) on 21 July 2014 with the support of the Singapore Economic
Development Board (EDB) and Workforce Development Agency (WDA), to offer higher certification
programmes to further develop specialists in the field of biologics manufacturing. As part of the
programme, participants complete three months’ of Workforce Skills Qualification (WSQ) training
with TP before embarking on overseas training for 9-18 months.
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On 7 November 2014, we bade adieu to the Temasek Foundation-Temasek Polytechnic Public Health
& Nutrition Intervention Programme which started on 9 October 2011. Over the three years, TP staff
and students helped to personally train 150 participants from 25 provinces in Cambodia and
supported their training others, creating a multiplier effect and benefiting more than 750
Cambodians through this programme. Though this marks the end of a programme, it also celebrates
the success of education helping our fellow neighbours to introduce long-term change in their
community.
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Staff are not the only ones who share their expertise – TP students do as well. TP was invited for the
second year to showcase projects by Business Process & Systems Engineering students at the Age
Management Seminar organised by Singapore National Employers Federation (SNEF), Ministry of
Manpower (MOM), Workforce Development Authority (WDA) and National Trades Union Congress
(NTUC) on 18 June 2014. Their projects were part of the Silver Productivity Programme in
collaboration with SNEF, which focus on work process improvement and increasing productivity of
mature workers within companies. TP was one of only two non-organising partners that were invited
to showcase at the event.
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CORPORATE INFORMATION
ADMINISTRATION COMMITTEE
SENIOR MANAGEMENT
SCHOOL ADVISORY COMMITTEES
SENATE
ACADEMIC AWARD / PRIZE SPONSORSHIPS
SCHOLARSHIPS
STUDENT INTAKE & ENROLMENT
ADMINISTRATION COMMITTEE
CHAIRMAN
Mr Lee Kok Choy
Managing Director and Singapore Country Manager
Micron Semiconductor Asia Pte Ltd
DEPUTY CHAIRMAN
Mr Gay Chee Cheong
Chairman
Board of Directors
Radcliffe Invertron Pte Ltd
MEMBERS
Mr Boo Kheng Hua
Principal & CEO
Temasek Polytechnic
Prof Alex Siow
Director
Strategic Technology Management Institute
National University of Singapore
Mr Adrian Tan Soon Chye
The Ad Planet Group
Mr Tan Peng Yam
Chief Executive
Defence Science & Technology Agency
SECRETARY
Mr Mun Kwok Kin
Acting Director
Human Resource
Temasek Polytechnic
SENIOR MANAGEMENT
Mr Boo Kheng Hua
Principal & CEO
Mr Edmond Khoo
Deputy Principal
Director, Centre for Ageing Studies
Mrs Lay-Tan Siok Lie
Deputy Principal
Director, School of Engineering
Director-in-charge, Innovation & Entrepreneurship
Mrs Lee-Lim Sok Keow
Deputy Principal
Director, School of Informatics & IT
Mrs Lily Teo
Senior Director, Projects
Ms Sharon Soh
Registrar
Dr Lee Chee Wee
Director, School of Applied Science
Mr Daniel Yeow
Director, School of Business
Mr Lim Chong Jin
Director, School of Design
Creative Director, Office of Creative Direction
Mr Wong Kia Ngee
Joint-Director, School of Engineering
Centre Director, Centre for Foundation Studies
Mr Ben Lim
Director, School of Humanities & Social Sciences
Mr Brendan Wong
Director, Corporate Communications
Mr Tang Ming Fai
Acting Director, Computer & Information Systems
Deputy Director, Learning Technologies
Office of Learning Technologies
Mr George Yap
Director, Entrepreneurship Centre
Director, Projects
Ms Magdalene Chai
Joint-Director, Entrepreneurship Centre
Mr Ho Thim Seng
Director, Estates & Facilities Management
Ms Chia Li Hwei
Director, Finance & Administration
Mr Mun Kwok Kin
Acting Director, Human Resource
Ms Mandy Mak
Director, Info-Structure Services
Ms Janet Lyn
Director, Internal Audit
Mrs Sally Chew
Director, International Relations & Industry Services
Director, Centre for TransCultural Studies
Director-in-charge, Legal Matters
Mr Teo Sze Cheng
Joint-Director, International Relations & Industry Services
Director, Centre for Character & Leadership Education
Dr Moira Lee
Director, Learning Academy
Director, Temasek Centre for Problem-Based Learning
Mrs Puspa Yeow
Director, Library & Information Resources
Mr Chan Kah Guan
Director, Planning & Development
Director, TP Smart Nation Programme Office
Mr John Leong
Director, Professional Development Centre
Director, Career & Education Services Centre
Mrs Esther Ong
Director, Projects
Mrs Lai-Low Sock Cheng
Director, Staff Capability Development
Mr Albert Yeo
Director, Strategic & Quality Development
Mr Raymond Teo
Director, Student & Alumni Affairs
Mr Ng Koon Seng
Director, Office of Learning Technologies
SCHOOL OF APPLIED SCIENCE
CHAIRMAN
Mr Andrew Tjioe
Founder & Executive Chairman
Tung Lok Group
President
Restaurant Association of Singapore
DEPUTY CHAIRMAN
Dr Lee Chee Wee
Director
School of Applied Science
Temasek Polytechnic
MEMBERS
Ms Ang Hui Gek
Director
Allied Health
Singapore General Hospital
Ms Chang Kwei Fern
Director (Accreditation and Policy & Promotion)
SAC Secretariat
SPRING Singapore
Ms Lynn Chua Shu Xian
Head
Consumer Businesses
Singapore Economic Development Board
Mr Gan Boon Teck
Regional Director
AP South
H B Fuller Co Ltd
A/P Paul Heng Wan Sia
Associate Professor
Department of Pharmacy
Ms Lee Choon-Siew
Audit Director
Supply Chain
GlaxoSmithKline Pte Ltd
Dr Annie Ling Mei Chuan
Director
Adult Health Division
Health Promotion Board
Mr Lucas Ng Hong Kiang
General Manager (Plant)
Petrochemical Corporation of Singapore (Pte) Ltd
Dr Ng Lee Ching
Director
Environmental Health Institute
National Environment Agency
Mr Bernhard Schaufelberger
Regional Technical Director
Flavour Innovation Centre
Givaudan Singapore Pte Ltd
Mr Freddy Soon
Dr Tan Hwa Luck
Founder and CEO
Mount Pleasant Animal Hospital
Mr Teng Chong Seng
Director
EHS
Pfizer Asia Pacific Pte Ltd
A/P Too Heng Phon
Associate Professor
Department of Biochemistry
Dr Wong Hon Mun
Group Director
AGRI Establishment Regulation Group
Agri-Food and Veterinary Authority
SCHOOL OF BUSINESS
CHAIRMAN
Mr Tan Peng Yam
Chief Executive
Defence Science & Technology Agency
DEPUTY CHAIRMAN
Mr Daniel Yeow
Director
School of Business
Temasek Polytechnic
MEMBERS
Mr Antoine Chahwan
Regional Vice President & General Manager
Four Seasons Hotel Singapore
Mr Richard Chua Khing Seng
Vice President, SEA Region
Yamato Asia Pte Ltd
Ms Reene Ho-Phang
Managing Director
BrandStory Inc
Mr Ho Tuck Chuen
Group Chief Financial Officer
Jurong Town Corporation
Mr Peter Lee Hwai Kiat
Chief Financial Officer
OSIM International Ltd
Mr Desmond Lim
Chairman
Les Amis Group
Miss Sherrie Lim
Vice President (HR & Store Management)
C K Tang Limited
Ms Lim Suat Jien
General Manager
Sentosa Leisure Management
Mr Low Cheong Kee
Managing Director
Home-Fix DIY Pte Ltd
Mr Eddee Ng
Senior Partner
Tan Kok Quan Partnership
Mr Clarence Pong
Vice President
Brand and Communications
MediaCorp Pte Ltd
Mr Quek Khor-Ping
Program Director
IBM ASEAN Watson Center of Competency
Mr Dhirendra Shantilal
Board Director & Head, Asia Pacific
Fircroft Group
Mr Brendan Wong
Director
Corporate Communications
Temasek Polytechnic
SCHOOL OF DESIGN
CHAIRMAN
Mr Low Cheaw Hwei
Vice President
Global Head of Product & Service Design
Head of Design, Asia
Philips Design
Philips Electronics (S) Pte Ltd
DEPUTY CHAIRMAN
Mr Lim Chong Jin
Director
School of Design
Creative Director
Temasek Polytechnic
MEMBERS
Mr Bojan Blecic
Vice President and
Head Experience Design
OCBC Bank
Mr Jeffrey Cheong
President
Tribal Worldwide Asia Pacific
Mr Kong Yit San
Assistant Chief Executive Officer
(Park Management & Lifestyle Cluster)
National Parks Board
Mr Joseph Lau Tse Kit
Managing Director
LAUD Architects Pte Ltd
Mr Pann Lim
Creative Director
Kinetic
Mr Patrick Low
Creative Partner
Goodfellas Consultancy Pte Ltd
Dr Russell Arthur Smith
Principal
Sitetectonix Pte Ltd
Mr Adrian Tan
CEO
The Ad Planet Group
Mr Sebastian Tan
Managing Director / Principal Photographer
Shooting Gallery / Wishing Well
Mr Alan Tay
Principal Architect
Formwerkz Architects
Ms Susan Teh
Corporate Advisor
National Art Gallery of Singapore
Ms Yu Yah Leng
Creative Director
Foreign Policy Design Group
Ms Odile Benjamin
(till 31 March 2015)
Divisional CEO
Creative & Licensing
Fashion Dynamics (Singapore) Pte Ltd
Mr Peter Cheng Tim Kum
Vice President
New Product Division
Hyflux Ltd
Mr Tony Chow
Chief Content Officer
The Brand Story Pte Ltd
Ms Cynthia Chua
Managing Director
Spa Esprit Group
Mr Low Jun Jek
Co-Founder / Creative Director
YOLK
Mr Stephen Lyon
Director
Regional & Head Office
M MOSER Singapore
Mr Andy Seet
(w.e.f. 1 April 2015)
Visual Manager Retail – Singapore & Malaysia
Visual Manager Wholesale – Asia Pacific
Esprit Retail Pte Ltd
Mr Daniel Yun
(w.e.f. 1 April 2015)
Founder and Director
Blue2 Pictures Pte Ltd
Mr Yeong Weng Fai
(w.e.f. 1 April 2015)
Director
DP Green Pte Ltd
Ms Cindy Goh Su Min
(w.e.f. 1 April 2015)
Executive Vice President
Corporate & Operations
Meiban Group Pte Ltd
Mr Yong Teck Meng
(w.e.f. 1 April 2015)
National Director
Habitat for Humanity, Singapore
SCHOOL OF ENGINEERING
CHAIRMAN
Prof Kam Chan Hin
Senior Associate Provost
(Undergraduate Education)
President’s Office
Nanyang Technological University
DEPUTY CHAIRPERSON
Deputy Principal
Director
School of Engineering
Temasek Polytechnic
MEMBERS
Mr Adam Broadbent-Carter
SATU Production Lead - Module Assembly
Rolls-Royce Singapore Pte Ltd
Prof Lap Chan
Adjunct Professor
Singapore University of Technology & Design
Dr Jeremy Chia Kay Hua
Managing Director
Utopia-Aire Pte Ltd
Dr Chong Chee Leong
Managing Director
Aviation Virtual Pte Ltd
Mr Jeffrey Chua Leong Chuan
Ascendas Services Pte Ltd
Mr John Fernandes
Area Director
Commercial Markets Strategy Group
Microsoft Asia Pacific
Mr Kua Sea-Yeat
CNA Group Ltd
Dr Richard Kwok Wai Onn
Executive Vice President and
Chief Technology Officer
Singapore Technologies Kinetics Ltd
Mr Simon Lim Beng Yong
Group Director
Industry Development
SPRING Singapore
Mr Lim Yeow Khee
President
Singapore Institute of Aerospace Engineers
Managing Director
LYK Aerospace (Singapore) Pte Ltd
Mr Sophian Abdul Rahman
General Manger
StemLife Berhad
Mr Tan Teik Seng
Director
Teleios SC Pte Ltd
Prof Lawrence Wong Wai Choong
Deputy Director (Strategic Developments)
Interactive and Digital Media Institute
Mr Wu Tek Ming
Senior Vice President (Management Service)
TÜV SÜD PSB Pte Ltd
SCHOOL OF HUMANITIES & SOCIAL SCIENCES
CHAIRMAN
Mr T K Udairam
Group Chief Executive Officer
Eastern Health Alliance
DEPUTY CHAIRMAN
Mr Ben Lim
Director
School of Humanities & Social Sciences
Temasek Polytechnic
MEMBERS
Mr David Ang
Director
Corporate Services
Human Capital (Singapore) Pte Ltd
Assoc Prof Angelique Chan
Executive Director
Centre for Ageing Research and Education
Duke-NUS Graduate Medical School
Dr Chiang Hai Ding
(Retired September 2009)
Management Committee
Henderson Senior Citizens’ Home
COL (Dr) Bernard Lim
Chief Psychologist / Head DPD
Defence Psychology Department
Ministry of Defence
Mrs Helen Lim-Yang
Principal Consultant
ROHEI Corporation
Miss Ngiam Siew Ying
Senior Director
Director
Policy & Planning
Director
Corporate Services
BG Melvyn Ong Su Kiat
Chief Guards Officer
Commander 21 Division
Ministry of Defence
Mr Tay Swee Yee
PAP Community Foundation
Senior Counsel Wong Meng Meng
Founder-Consultant
Wong Partnership LLP
SCHOOL OF INFORMATICS & IT
CHAIRMAN
Mr Keith Budge
Vice President
Ooyala Inc.
DEPUTY CHAIRPERSON
Director
School of Informatics & IT
Deputy Principal
Temasek Polytechnic
MEMBERS
Prof Alex Siow
Director
Strategic Technology Management Institute
Mr Andrew Chow
President
ST Electronics (Info-Comm Systems) Pte Ltd
Mr Francis Fong
Managing Director
Singapore & Regional Accounts
SAS Institute Pte Ltd
Ms Kimberley Foo
Deputy Director
Manpower Development
Infocomm Development Authority of Singapore
Mr Glen Francis
Vice-President
Executive Council
IT Management Association
Mr Eric Goh
Managing Director
EMC Corporation, Singapore
Mr Vincent Goh
Vice President
RSA, The Security Division of EMC
Mr Bill Lee
Partner
PI Advisory Services
Ernst and Young
Mr Steve Lee
Senior Vice President (Technology Division)
Changi Airport Group Singapore (Pte) Ltd
Mr Stephen Lim
CEO / Managing Director
SQL View Pte Ltd
Mr P K Raman
Chief Information Officer
Standard Chartered Bank Singapore
Mr V. R. Srivatsan
Managing Director, ASEAN
Autodesk Asia Pte Ltd
Ms Claudia Tan Li Pei
Country Manager
Enterprise Business Unit
IBM Singapore Pte Ltd
Mr Irving Tan
President
Cisco Systems (USA) Pte Ltd
Ms Jessica Tan
Managing Director
Microsoft Singapore Pte Ltd
Mr Wong Heng Chew
President
Fujitsu Asia Pte Ltd
Ms Shirley Wong Swee Ping
Managing Partner
TNF Ventures Pte Ltd
SENATE
CHAIRMAN
Mr Boo Kheng Hua
Principal & CEO
DEPUTY CHAIRMAN
Mr Edmond Khoo
Deputy Principal
Director, Centre for Ageing Studies
SECRETARY
Ms Sharon Soh
Registrar
PERMANENT MEMBERS
Deputy Principal
Director, School of Engineering
Deputy Principal
Director, School of Informatics & IT
Dr Lee Chee Wee
Director, School of Applied Science
Mr Daniel Yeow
Director, School of Business
Mr Lim Chong Jin
Director, School of Design
Covering Deputy Director and
Academic & Curriculum Development,
School of Design
Creative Director, Office of Creative Direction
Mr Ben Lim
Director, School of Humanities & Social Sciences
Mrs Sally Chew-Ong
Director, Centre for TransCultural Studies
Director, International Relations & Industry Services
Mr Wong Kia Ngee
Centre Director, Centre for Foundation Studies
Joint-Director, School of Engineering
APPOINTED MEMBERS
Mr Teo Sze Cheng
Director, Centre for Character & Leadership Education
Joint-Director, International Relations & Industry Services
Mr Tang Ming Fai
Acting Director, Computer & Information Systems Department
Deputy Director, Learning Technologies
Office of Learning Technologies
Mr John Leong
Director, Professional Development Centre
Director, Career & Education Services Centre
Mr Albert Yeo
Director, Strategic & Quality Development Department
Mr Lim Thim Veng
Chairman, Academic Programme Validation Committee
ELECTED MEMBERS
(Term of Office: 21 April 2014 to 24 April 2016)
Dr Kho Choon Joo
Deputy Director, Academic Development
Course Manager, Diploma in Biomedical Science
School of Applied Science
Mr Desmond Lim
Assistant Director, Student Development
Course Manager, Diploma in Leisure & Resort Management
Course Manager, Diploma in Leisure & Events Management
School of Business
Mr David Darryl Wilson
Deputy Director
Academic, Planning & Development
School of Design
Mr Khoo Hock
Deputy Director, Technology
School of Engineering
Mr Vincent Bong
Deputy Director, Student Development & Technology
School of Humanities & Social Sciences
Dr Eng Pin Kwang
Deputy Director, Academic & Continuing Education
School of Informatics & IT
ACADEMIC AWARD / PRIZE SPONSORSHIPS
A I Associates Pte. Ltd.
ACCA Singapore Pte Ltd
Accenture Pte Ltd
ACI (Singapore Chapter)
ADDP Architects LLP
Admira Pte. Ltd.
Adobe Systems Pte. Ltd.
Aedas Interiors Pte. Ltd.
Ag Ingo Corp Pte. Ltd.
Alcatel-Lucent Singapore Pte Ltd
Allen & Gledhill LLP
Amadeus GDS Singapore Pte Ltd
Apollo Aquarium Pte Ltd
April Fine Paper Trading Pte Ltd
ASHRAE Singapore Chapter
Asian Surface Technologies Pte Ltd
Atelier Dreiseitl Asia Pte. Ltd.
Atlas Sound & Vision Pte. Ltd.
Autodesk Asia Pte Ltd
AWAK Technologies Pte. Ltd.
Aztech Group Ltd
Baxter Bioscience Manufacturing SARL Singapore Branch
BBC Worldwide Channels (Singapore) Pte Ltd
BCMI Pte. Ltd.
Becton Dickinson Holdings Pte. Ltd.
Bugis Street Development Pte Ltd
Building and Construction Authority
Canon Singapore Pte Ltd
Capelle Consulting Pte. Ltd.
CapitaLand Limited
CapitaMalls Asia Limited
Carbon Interactive Pte. Ltd.
Cayman Management Consultants Pte Ltd
C-Bulk Liners Pte Ltd
Cengage Learning Asia Pte Ltd
Cengage Learning Asia Pte. Ltd.
Certis CISCO Security Pte Ltd
Chan Brothers Travel (Pte) Limited
Changi Airport Group (Singapore) Pte. Ltd.
Changi General Hospital
Cheil Singapore Pte. Ltd.
Chio Lim Stone Forest
Cisco Systems (USA) Pte Ltd
City Developments Limited
Citystate Cruises
CKE Manufacturing Pte Ltd
Club Managers' Association (Singapore)
Cold Storage Singapore (1983) Pte Ltd
Consumers' Association of Singapore (CASE)
Convertium Pte Ltd
CPA Australia Ltd
Credit Counselling Singapore Society
CV Lianta Surya
CYC The Custom Shop
Cyclone Creative Technology
DBS Bank Ltd
Derrick Wong & Lim BC LLP
Diethelm Keller Aviation Pte Ltd
DigiMagic Communications Pte Ltd
DP Architects Pte Ltd.
DPD International Pte. Ltd.
Eco-id Architects Pte. Ltd.
element14 Pte. Ltd.
Elmich Pte. Ltd.
EMC Computer Systems (South Asia) Pte. Ltd.
Empire Eats Pte Limited
Energeia Labs Pte. Ltd.
EON Reality Pte. Ltd.
Epigram Books Pte. Ltd.
ERCO Lighting Pte. Ltd.
Ernst & Young LLP
Essence Vale Pte Ltd
ESTA Pte. Ltd.
Excel Marco Industrial Systems Pte Ltd
Far East Flora.com Pte Ltd
FESTO Private Limited
Flexlink Engineers Pte Ltd
Foo Kon Tan Grant Thornton LLP
Four Seasons Hotel Singapore
Freeflow Productions Pte. Ltd.
Freeform Solution Pte. Ltd.
Fujitsu Asia Pte Ltd
Furryfish Pte. Ltd.
Genesis Law Corporation
Germs Digital Pte. Ltd.
Geyer Environments Pte. Ltd.
Giant Singapore
Givaudan Singapore Pte Ltd
Glaxo Wellcome Manufacturing Pte Ltd
GlaxoSmithKline Pte Ltd
Golden Village Multiplex Pte Ltd
Goodrich Global Pte. Ltd.
Goodvine Pte Ltd
Grocery Logistics of Singapore Pte Ltd
Gurusoft Pte Ltd
Hitachi Data Systems Pte Limited
Home-Fix D.I.Y. Pte Ltd
IEEE Singapore IA/PEL Joint Chapter
IIL Asia Pte. Ltd.
IM Innovations Pte. Ltd.
Imperial Treasure Restaurant Group Pte. Ltd.
Infocomm Development Authority of Singapore
Information Systems Audit and Control Association - Singapore Chapter
Ingredion Singapore Pte. Ltd.
Inshuo International (S) Pte. Ltd.
Institute of Parks & Recreation, Singapore
Institute of Singapore Chartered Accountants
Interface Singapore Pte. Ltd.
IORA Fashion Pte Ltd
Isetan Foundation
i-vic International Pte Ltd
JEB Asia Pte Ltd
Johns Hopkins Singapore International Medical Centre Pte. Ltd.
Johnson & Johnson Pte. Ltd.
Jumbo Group of Restaurants Pte Ltd
Karuppan Chettiar & Partners
Kelly Services (Singapore) Pte. Ltd.
Kerry Logistics Centre (Tampines) Pte Ltd
KLM Royal Dutch Airlines
KPMG LLP
Lalu Concepts Pte. Ltd.
Langdon & Seah Singapore Pte. Ltd.
Lee Foundation
Lifegear Pte Ltd
Lonza Biologics Tuas Pte. Ltd.
L'Oréal Singapore Pte Ltd
Lubritrade Ocean (Ubin) Pte. Ltd.
MAJ Aviation Pte. Ltd.
Makino Asia Pte Ltd
Malaysia Dairy Industries Private Limited
McDonald's Restaurants Pte. Ltd.
McGraw-Hill Education (Asia)
Media Development Authority
MediaCorp Press Ltd
MediaCorp Pte Ltd
Menlo Worldwide Asia Pacific Pte Ltd
Microchip Technology Singapore Pte Ltd
Micron Semiconductor Asia Pte. Ltd.
Microsoft Operations Pte Ltd
Mitsui Phenols Singapore Pte. Ltd.
Motion Picture Association-International
Mount Pleasant Referral Clinic Pte. Ltd.
National Instruments Singapore (Pte) Ltd
National Library Board
National Oxygen Pte Ltd
Nemesis Pictures Pte. Ltd.
Neo Garden Catering Pte Ltd
Nestlé Singapore (Pte) Ltd
Nexia TS Public Accounting Corporation
Ngee Ann Kongsi
Nokomai Pte. Ltd.
NTUC Fairprice Co-operative Ltd
Ochre Pictures Private Limited
Orient Express Lines (Singapore) Pte Ltd
Osteoporosis Society (Singapore)
Otto Solutions Pte. Ltd.
Oversea-Chinese Banking Corporation Limited
Panasonic Avionics Corporation, Singapore Branch
Pan-West (Private) Limited
PAP Community Foundation
PCS Security Private Limited
Pearson Education South Asia Pte Ltd
Pearson Education South Asia Pte. Ltd.
Petrochemical Corporation of Singapore (Private) Limited
Pfizer Asia Pacific Pte Ltd
Philips Electronics Singapore Pte Ltd
POSB
Practical Mediscience Pte Ltd
PricewaterhouseCoopers LLP
Property Facility Services Pte. Ltd.
Propnex Realty Pte Ltd
Quintech Life Sciences Pte. Ltd.
Raffles Medical Group Ltd
Rajah & Tann LLP
Ravindran Associates
Regent Law LLC
Resorts World at Sentosa Pte. Ltd.
Robinson & Company (Singapore) Private Limited
Rockwell Collins Southeast Asia Pte Ltd
Royal Plaza on Scotts
Samson Tan Associates
Samsung Asia Pte Ltd
SAP Asia Pte Ltd
Sapura Synergy Singapore Pte. Ltd.
SATS Security Services Pte Ltd
SDV Logistics (Singapore) Pte Ltd
Select Group Limited
Sembcorp Industries Ltd
Senoko Energy Pte Ltd
Sentosa Leisure Management Pte Ltd
Shangri-La Hotel Limited
Shell Eastern Petroleum (Pte) Ltd
Shooting Gallery Asia Pte. Ltd.
Siemens Medical Instruments Pte. Ltd.
SIFT Analytics Group Pte. Ltd.
Siltronic Samsung Wafer Pte. Ltd.
Sinaran Pictures Pte. Ltd.
Singapore Academy of Law
Singapore Association for Laboratory Animal Science
Singapore Association for Medical Laboratory Sciences
Singapore Association of Clinical Biochemists (SACB)
Singapore Association of Pharmaceutical Industries
Singapore Chefs' Association
Singapore Chemical Industry Council Limited
Singapore Cricket Club
Singapore Logistics Association
Singapore Manufacturing Federation
Singapore National Employers Federation
Singapore Nutrition and Dietetics Association
Singapore Police Force
Singapore Press Holdings Limited
Singapore Retailers Association
Singapore Technologies Aerospace Ltd
Singapore Technologies Electronics Limited
Singapore Tourism Board
Singapore Training & Development Association
Singapore Veterinary Association
Singex Venues Pte Ltd
Sitetectonix Private Limited
Sitting in Pictures Pte Ltd
SL Global Pte. Ltd.
Society of Loss Prevention in the Process Industries
Soon Poh Telecommunications Pte Ltd
Sparky Animation Pte. Ltd.
Spice Connect (Pte.) Ltd.
Spring Technologies Pte. Ltd.
SQL View Pte Ltd
ST Electronics (Info-Security) Pte Ltd
ST Electronics (Info-Software Systems) Pte. Ltd.
Standard Chartered Bank
Sub@Polyeast Pte. Ltd.
Sunward Pharmaceutical Private Limited
Synergistic Real Estate Management & Network Pte Ltd
Taster Food Pte. Ltd.
TDK-Lambda Singapore Pte. Ltd.
Tecnomic Components Pte. Ltd.
Teknion Furniture Systems
The Ascott Limited
The BioFactory Pte. Ltd.
The Institution of Engineers, Singapore
The Law Society of Singapore
The Polyolefin Company (Singapore) Pte. Ltd.
The Retail Academy of Singapore Pte Ltd
The Ritz-Carlton, Millenia Singapore
The Singapore Association of the Institute of Chartered Secretaries and Administrators (SAICSA)
Thomson Reuters Asia Pte. Ltd.
Tiger Airways Singapore Pte. Ltd.
Tim Ho Wan (Singapore) Pte Ltd
TLG Technology Pte. Ltd.
Toyota Tsusho Asia Pacific Pte. Ltd.
TSP Retail Pte Ltd
Tung Lok Group
Tung Lok Restaurants (2000) Ltd
Unicurd Food Co (Private) Limited
Veer Motion Graphics Pte. Ltd.
VM Education Pte. Ltd.
VMware Singapore Pte. Ltd.
VTB Capital PLC, Singapore Branch
WATG Singapore, Inc.
WhooshPro Pte. Ltd.
Wilson & Associates, LLC
XM Asia Pacific Pte. Ltd.
Yakult (Singapore) Private Limited
ZEB-Technology Pte. Ltd.
SCHOLARSHIPS
ACCA Singapore Scholarship
Association of Singapore Housekeepers Scholarship
Aston Investments Development Scholarship
Chan Brothers Travel Scholarship
Charles & Keith Group Scholarship
Citi Scholarship
Cordlife Scholarship
Cybele Studio Scholarship
The Daisy Phay TP Foundation Scholarship
Eastern Win Metals & Machinery Scholarship
Eon Reality Scholarship
Foo Kon Tan Grant Thornton Scholarship
TP-VCE Scholarship
Les Amis Scholarship
Gensler Singapore Scholarship
TP-Goh Foundation Scholarship
Goodrich Global & J+J Flooring Scholarship
Haworth Design Excellence Scholarship
IHUB Solutions Scholarship
Innovasia Textile and Acoustic Design Scholarship
ISCA Scholarship
Isetan Foundation Scholarship
JAYA Scholarship
Jumbo Group of Restaurants Scholarship
Joint Far East Orchard / Straits Trading Scholarship
Kelly Services Scholarship
Kingsmen Scholarship
Landor Associates Designers & Consultants Scholarship
Lee Foundation Scholarship
Motorola Mobility Foundation Scholarship
Nexia TS Scholarship
The Ngee Ann Kongsi Scholarship
Ong Foundation Scholarship
Resorts World Sentosa Scholarship
Select Group Scholarship
Shaw Contract Group Scholarship
SRA-MasterCard Retail Scholarship
Singapore Training & Development Association Scholarship
Sky Creation Design Scholarship
Singapore Print Media Hub Scholarship
Accounting & Finance Scholarship
Polytechnic Foundation Programme (PFP) Scholarship
School of Applied Science Scholarship
TP Marketing Scholarship
Temasek Polytechnic Scholarship
Joint Far East Orchard / Straits Trading Scholarship
TLA Sports Scholarship
Vanguard Interiors Scholarship
Wan Fook Kong Scholarship
Xtra Office Scholarship
YT Lim Engineering Services Scholarship
Zero Spot Laundry Service Scholarship
STUDENT INTAKE & ENROLMENT
School / Course Name
2014
Frozen
Intake^
Frozen
Enrolment
SCHOOL OF APPLIED SCIENCE
Applied Food Science & Nutrition
Baking & Culinary Science
Biomedical Science
Biotechnology
Chemical Engineering
Consumer Science & Technology
Pharmaceutical Science
Veterinary Technology
School of Applied Science Total
121
47
51
94
156
4
104
50
627
370
141
144
286
453
36
324
144
1898
SCHOOL OF BUSINESS
Business/ Logistics & Operations Management/Marketing*
Accounting & Finance
Business
Business Information Technology
Communications & Media Management
Culinary & Catering Management
Hospitality & Tourism Management
Law and Management
Leisure & Resort Management
Logistics & Operations Management
Marketing
Retail Management
School of Business Total
559
170
146
92
59
244
134
177
94
1675
561
507
683
431
274
178
725
407
526
220
211
284
5007
SCHOOL OF DESIGN
Apparel Design & Merchandising
Communication Design 5
Digital Film & Television 1
Environment Design
Interactive Media Design
Interior Architecture and Design
Moving Images
Product & Industrial Design
Retail & Hospitality Design
Visual Communication
School of Design Total
74
120
85
54
76
49
55
513
209
120
162
142
106
219
74
134
149
205
1520
SCHOOL OF ENGINEERING
3D Interactive Media Technology
Aerospace Electronics
Aerospace Engineering
Aviation Management & Services
Biomedical Engineering 2
Biomedical Informatics & Engineering
Business Process & Systems Engineering
Clean Energy
Common Engineering Programme*
Computer Engineering
Electrical & Electronic Engineering Programme*
Electronics
Green Building & Sustainability
Infocomm & Network Engineering 3
Info-Communications
Integrated Facility Management
Mechatronics
Mechatronics/Aerospace Engineering*
Media & Communication Technology
Microelectronics
School of Engineering Total
49
119
119
168
55
167
56
224
53
167
4
136
81
139
14
191
1742
154
407
423
498
134
95
493
242
224
192
167
430
423
407
2
427
569
192
71
44
5594
SCHOOL OF HUMANITIES & SOCIAL SCIENCES
Early Childhood Studies
Gerontological Management Studies
Psychology Studies
School of Humanities & Social Sciences Total
100
68
72
240
252
199
214
665
SCHOOL OF INFORMATICS & IT
Business Intelligence & Analytics
Cyber & Digital Security
Digital Forensics
Financial Business Informatics
Game & Entertainment Technology
Game Design & Development 4
Information Technology
Interactive Media Informatics
Mobile & Network Services
School of Informatics & IT Total
47
59
48
83
70
92
74
473
136
168
144
288
139
71
253
65
190
1454
Grand Total
5270
16138
^ Include Direct Year 2 students
* Common First Year Programmes
(1) Before AY2013, the course was named "Moving Images"
(2) Before AY2013, the course was named "Biomedical Informatics & Engineering"
(3) Before AY2011, the course was named "Info-Communications"
(4) Before AY2013, the course was named "Game & Entertainment Technology"
(5) From AY2014, "Interactive Media Design" and "Visual Communication" is merged into
"Communication Design"
Temasek Polytechnic
Financial statements
Year ended 31 March 2015
Statement of financial position
As at 31 March 2015
Note
Accumulated surplus and reserve
General fund
Restricted funds
Fair value reserve
9
9
Temasek Polytechnic Endowment Fund
10
Other funds
Net assets of other funds
Non-current assets
Property, plant and equipment
Investments in subsidiaries
Available-for-sale investments
Current assets
Trade and other receivables
Prepayments
Government grant receivables
Cash and cash equivalents
2014/15
$’000
2013/14
$’000
174,723
35,759
6,846
217,328
17,798
234,610
34,442
2,357
271,409
10,359
11
11
9,285
(9,285)
–
235,126
9,504
(9,504)
–
281,768
4
5
6
621,769
–
29,149
650,918
560,109
–
64,014
624,123
6
7
94,773
8,577
326
14,595
199,765
318,036
64,182
5,666
491
18,332
245,493
334,164
968,954
958,287
8
Total assets
Non-current liabilities
Fees received in advance
Deferred capital grants - Government
Deferred capital grants - Others
Government grants received in advance
12
13
14
15
13,087
619,478
2,279
58,805
693,649
13,562
557,280
2,825
49,373
623,040
Current liabilities
Trade and other payables
15
16
326
39,853
40,179
187
53,292
53,479
Total liabilities
733,828
676,519
Net assets
235,126
281,768
The accompanying notes form an integral part of these financial statements.
FS1
Temasek Polytechnic
Statement of comprehensive income
Note
Operating income
Student fees
Other income
Donations
Courses, projects, seminars and talks
Operating expenses
Salaries, CPF and other related costs
Depreciation
Repairs, maintenance and utilities
Property, plant and equipment expensed off
Teaching materials and resources
Student welfare
IT and information communication
Rental
Consultancy
Other expenditure
Fees for fund managers
23
4
General fund
2014/15
2013/14
$’000
$’000
Restricted funds
2014/15
2013/14
$’000
$’000
Total
2014/15
$’000
2013/14
$’000
44,811
5,993
33
6,254
57,091
44,614
4,844
56
4,765
54,279
–
585
1,085
1,793
3,463
–
579
892
1,783
3,254
44,811
6,578
1,118
8,047
60,554
44,614
5,423
948
6,548
57,533
200,078
40,519
23,248
3,766
4,063
3,419
701
861
906
5,496
177
5,998
289,232
197,967
33,622
23,162
4,015
4,385
3,197
744
908
1,073
7,719
175
4,856
281,823
1,307
4
263
40
2
–
49
651
–
1,694
–
1,819
5,829
1,243
11
212
4
–
–
39
747
–
2,013
–
1,652
5,921
201,385
40,523
23,511
3,806
4,065
3,419
750
1,512
906
7,190
177
7,817
295,061
199,210
33,633
23,374
4,019
4,385
3,197
783
1,655
1,073
9,732
175
6,508
287,744
FS2
Temasek Polytechnic
Statement of comprehensive income (Cont’d)
Note
Operating deficit
Non-operating income/(expense)
Interest income
Investment income
(Loss)/Gain on disposal of property, plant
and equipment
Deficit before grants
17
18
19
General fund
2014/15
2013/14
$’000
$’000
(232,141)
4,244
125
(227,544)
4,521
2,386
Restricted funds
2014/15
2013/14
$’000
$’000
(2,366)
835
–
–
(1,531)
(272)
(228,044)
124
(220,513)
13
14
40,878
1,165
35,575
1,103
41
–
20
126,076
38
168,157
167,752
13
204,443
(59,887)
(16,070)
Total
2014/15
$’000
(2,667)
488
–
–
(2,179)
(234,507)
5,079
125
2013/14
$’000
(230,211)
5,009
2,386
(272)
(229,575)
124
(222,692)
7
–
40,919
1,165
35,582
1,103
2,807
–
2,848
2,892
–
2,899
128,883
38
171,005
170,644
13
207,342
1,317
720
(58,570)
(15,350)
Grants
Deferred capital grants amortised:
Government
Others
Operating grants:
Government
Others
(Deficit)/Surplus for the year
FS3
Temasek Polytechnic
Statement of comprehensive income (Cont’d)
General fund
2014/15
2013/14
$’000
$’000
(Deficit)/Surplus for the year
Other comprehensive income
Items that are or may be reclassified
subsequently to profit or loss:
Net change in fair value of available-forsale financial assets
Total comprehensive income for the year
(59,887)
(16,070)
5,078
5,078
(2,858)
(2,858)
(54,809)
(18,928)
Restricted funds
2014/15
2013/14
$’000
$’000
1,317
Total
2014/15
$’000
2013/14
$’000
720
(58,570)
(15,350)
(589)
(589)
(74)
(74)
4,489
4,489
(2,932)
(2,932)
728
646
(54,081)
(18,282)
FS4
Temasek Polytechnic
Statement of changes in accumulated surplus and reserve
General
fund
$’000
Restricted
fund
$’000
Fair value
reserve
$’000
33,722
5,289
289,691
(2,932)
(18,282)
Total
$’000
At 1 April 2013
250,680
Total comprehensive income
for the year
(16,070)
At 31 March 2014
234,610
34,442
2,357
271,409
At 1 April 2014
234,610
34,442
2,357
271,409
Total comprehensive income
for the year
(59,887)
1,317
4,489
(54,081)
At 31 March 2015
174,723
35,759
6,846
217,328
720
FS5
Temasek Polytechnic
Statement of cash flows
Note
Cash flows from operating activities
Deficit before grants
Adjustments for:
Special projects and other grants income
Depreciation of property, plant and equipment
Goods and services tax
Fees for fund managers
Interest income
Investment loss/(income)
Amortisation of fees received in advance
Loss/(Gain) on disposal of property, plant and equipment
4
18
19
Changes in:
Prepayment
Net cash used in operating activities
Cash flows from investing activities
Interest received
Dividend income from available-for-sale investments
Cash balances with fund managers
Acquisition of available-for-sale investments
Proceeds from disposal of available-for-sale investments
Proceeds from sale of property, plant and equipment
Purchase of property, plant and equipment
Net cash used in investing activities
Cash flows from financing activities
Capital grants received from Government
Goods and services tax grants received from Government
F&E and IT grants received from Government
MOE Bursary received
Matching grant received from Government as Endowment
Fund
Operating grants received from Government
Special projects and other grants received
Donations received for Bursary & Scholarships
Net cash from financing activities
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
10
10
8
2014/15
$’000
2013/14
$’000
(229,575)
(222,692)
(2,517)
40,523
(19,611)
177
(5,079)
(125)
(475)
272
(216,410)
–
33,633
(18,941)
175
(5,009)
(2,386)
–
(124)
(215,344)
(1,306)
165
–
(21,070)
(238,621)
287
30
8,529
(13,608)
(220,106)
3,913
–
1,322
(11,323)
20,000
88
(98,528)
(84,528)
5,009
655
(549)
(13,193)
–
235
(86,134)
(93,977)
8,002
19,611
25,476
3,532
44,128
18,941
25,774
2,593
3,939
211,021
3,662
3,500
278,743
2,151
208,335
2,855
1,850
306,627
(44,406)
243,115
198,709
(7,456)
250,571
243,115
FS6
Temasek Polytechnic
Notes to the financial statements
These notes form an integral part of the financial statements.
The financial statements were authorised for issue by the Board of Governors on 18 June 2015.
1
Domicile and activities
Temasek Polytechnic (the “Polytechnic”) was established in 1990 under the Temasek
Polytechnic Act (Chapter 323A). It is domiciled in the Republic of Singapore and its campus is
situated at 21 Tampines Avenue 1, Singapore 529757.
The principal activities of the Polytechnic are to provide instruction, training and research in
technology, science, commerce, arts and other subjects of learning.
2
Basis of preparation
2.1
Statement of compliance
The financial statements have been prepared in accordance with the applicable requirements of
Temasek Polytechnic Act, Chapter 323A, the Singapore Charities Act, Chapter 37 (the
“Charities Act”) and Singapore Statutory Board Financial Reporting Standards (“SB-FRS”).
SB-FRS includes Statutory Board Financial Reporting Standards, Interpretations of SB-FRS
(“INT SB-FRS”) and SB-FRS Guidance Notes as promulgated by the Accountant-General.
2.2
Basis of measurement
The financial statements have been prepared on the historical cost basis except for certain
financial assets and financial liabilities which are stated at fair value.
2.3
Functional and presentation currency
The financial statements are presented in Singapore dollars which is the Polytechnic’s
functional currency. All financial information is presented in Singapore dollars, unless
otherwise stated.
2.4
Use of estimates and judgements
The preparation of financial statements in conformity with SB-FRSs requires management to
make judgements, estimates and assumptions that affect the application of accounting policies
and the reported amounts of assets, liabilities, income and expenses. 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 estimates are revised and in any
future periods affected.
FS7
Temasek Polytechnic
Measurement of fair values
A number of the Polytechnic’s accounting policies and disclosures require the measurement of
fair values, for both financial and non-financial assets and liabilities.
When measuring the fair value of an asset or a liability, the Polytechnic uses market observable
data as far as possible. Fair values are categorised into different levels in a fair value hierarchy
based on the inputs used in the valuation techniques as follows:
●
Level 1
:
quoted prices (unadjusted) in active markets for identical assets or liabilities
that the Polytechnic can access at the measurement date.
●
Level 2
:
inputs other than quoted prices included within Level 1 that are observable
for the asset or liability, either directly (i.e. as prices) or indirectly (i.e.
derived from prices).
●
Level 3
:
inputs for the asset or liability that are not based on observable market data
(unobservable inputs).
If the inputs used to measure the fair value of an asset or a liability might be categorised in
different levels of the fair value hierarchy, then the fair value measurement is categorised in its
entirety in the same level of the fair value hierarchy as the lowest level input that is significant
to the entire measurement (with Level 3 being the lowest).
The Polytechnic recognises transfers between levels of the fair value hierarchy as of the end of
the reporting period during which the changes has occurred.
2.5
Changes in accounting polices
Offsetting of financial assets and liabilities
Under the Amendments to SB-FRS 32 Financial Instruments: Presentation – Offsetting
Financial Assets and Financial Liabilities, to qualify for offsetting, the right to set off a
financial asset and a financial liability must not be contingent on a future event and must be
legally enforceable both in the normal course of business and in the event of default, insolvency
or bankruptcy of the entity and its counterparties.
Notwithstanding the above, the change had no significant impact on the measurements of the
Company’s assets and liabilities.
3
Significant accounting policies
The accounting policies used by the Polytechnic have been applied consistently to all periods
presented in these financial statements, except as explained in note 2.5 which addresses changes
in accounting policy.
FS8
Temasek Polytechnic
3.1
Subsidiaries
Subsidiaries are entities controlled by the Polytechnic. The Polytechnic controls an entity when
it is exposed to, or has rights to, variable returns from its involvement with the entity and has
the ability to affect those returns through its power over the entity.
Investments in subsidiaries are stated in the Polytechnic’s statement of financial position at cost
less accumulated impairment loss.
3.2
Foreign currency transactions
Transactions in foreign currencies are translated to the functional currency of the Polytechnic at
the exchange rates at the dates of the transactions. Monetary assets and liabilities denominated
in foreign currencies at the end of the reporting period are retranslated to the functional currency
at the exchange rate at that date. The foreign currency gain or loss on monetary items is the
difference between amortised cost in the functional currency at the beginning of the year,
adjusted for effective interest and payments during the year, and the amortised cost in foreign
currency translated at the exchange rate at the end of the year.
Non-monetary assets and liabilities denominated in foreign currencies that are measured at fair
value are retranslated to the functional currency at the exchange rate at the date that the fair
value was determined. Non-monetary items in a foreign currency that are measured in terms of
historical cost are translated using the exchange rate at the date of the transaction. Foreign
currency differences arising on retranslation are recognised in profit or loss.
3.3
Financial instruments
Non-derivative financial assets
The Polytechnic initially recognises loans and receivables and deposits on the date that they are
originated. All other financial assets are recognised initially on the trade date, which is the date
that the Polytechnic becomes a party to the contractual provisions of the instrument.
The Polytechnic derecognises a financial asset when the contractual rights to the cash flows
from the asset expire, or it transfers the rights to receive the contractual cash flows on the
financial asset in a transaction in which substantially all the risks and rewards of ownership of
the financial asset are transferred. Any interest in transferred financial assets that is created or
retained by the Polytechnic is recognised as a separate asset or liability.
Financial assets and liabilities are offset and the net amount presented in the statement of
financial position when, and only when, the Polytechnic has a legal right to offset the amounts
and intends either to settle on a net basis or to realise the asset and settle the liability
simultaneously.
The Polytechnic classifies non-derivative financial assets into the following categories: loans
and receivables and available-for-sale financial assets.
FS9
Temasek Polytechnic
Loans and receivables
Loans and receivables are financial assets with fixed or determinable payments that are not
quoted in an active market. Such assets 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 any impairment losses.
Loans and receivables comprise cash and cash equivalents, and trade and other receivables.
Cash and cash equivalents comprise cash balances, bank deposits and demand deposits that are
readily convertible to a known amount of cash and are subject to an insignificant risk of changes
in value.
Available-for-sale financial assets
Available-for-sale financial assets are non-derivative financial assets that are designated as
available for sale or are not classified in any of the above categories of financial assets.
Available-for-sale financial assets are recognised initially at fair value plus any directly
attributable transaction costs. Subsequent to initial recognition, they are measured at fair value
and changes therein, other than impairment losses and foreign currency differences on
available-for-sale debt instruments, are recognised in other comprehensive income and
presented in the fair value reserve in accumulated surplus and reserve. When an investment is
derecognised, the gain or loss accumulated in accumulated surplus and reserves is reclassified to
profit or loss.
Available-for-sale financial assets comprise equity securities, debt securities and funds managed
by fund managers.
Non-derivative financial liabilities
Financial liabilities (including financial liabilities designated at fair value through profit or loss)
are recognised initially on trade date, which is the date that the Polytechnic becomes a party to
the contractual provisions of the instrument.
The Polytechnic derecognises a financial liability when its contractual obligations are
discharged, cancelled or expired.
Financial assets and liabilities are offset and the net amount presented in the statement of
financial position when, and only when, the Polytechnic has a legal right to offset the amounts
and intends either to settle on a net basis or to realise the asset and settle the liability
simultaneously.
The Polytechnic classifies non-derivative financial liabilities into the other financial liabilities
category. Such financial liabilities are recognised initially at fair value plus any directly
attributable transaction costs. Subsequent to initial recognition, these financial liabilities are
measured at amortised cost using the effective interest method.
Other financial liabilities comprise trade and other payables.
FS10
Temasek Polytechnic
3.4
Funds
General funds
Income and expenditure relating to the main accounts of the Polytechnic are accounted for
through the General Fund in the Statement of Comprehensive Income.
Restricted funds
Income and expenditure relating to funds set up for contributions received and expenditure
incurred for specific purposes are accounted for through the Restricted Fund in the Statement of
Comprehensive Income.
The assets and liabilities of these funds are accounted for separately. However, for presentation
purposes, they are pooled together with those of the General Fund.
Other funds
Funds are set up to account for contributions received from external sources for specific
purposes.
The assets and liabilities of funds – Funds for student loans, Ministry of Education Opportunity
Fund and Khoo Teck Puat International Opportunity Programme Fund held in trust for Ministry
of Education and Campus Care Network Fund held in trust for the staff and students of the
Polytechnic are presented as a line item under the capital and other funds section on the face of
the balance sheet of the financial statements as prescribed by SB-FRS Guidance Note 1.
Income and expenditure relating to these funds are accounted for directly in these funds.
Details of income, expenditure, assets and liabilities relating to these funds are disclosed in Note
11 to the financial statements.
3.5
Recognition and measurement
Items of property, plant and equipment are measured at cost less accumulated depreciation and
accumulated impairment losses.
Cost includes expenditure that is directly attributable to the acquisition of the asset. The cost of
self-constructed assets includes:

the cost of materials and direct labour;

any other costs directly attributable to bringing the assets to a working condition for their
intended use;

when the Polytechnic has an obligation to remove the asset or restore the site, an estimate of
the costs of dismantling and removing the items and restoring the site on which they are
located; and

capitalised borrowing costs.
FS11
Temasek Polytechnic
Purchased software that is integral to the functionality of the related equipment is capitalised as
part of that equipment.
When parts of an item of property, plant and equipment have different useful lives, they are
accounted for as separate items (major components) of property, plant and equipment.
The gain or loss on disposal of an item of property, plant and equipment (calculated as the
difference between the net proceeds from disposal and the carrying amount of the item) is
recognised in profit or loss.
Subsequent costs
The cost of replacing a component of an item of property, plant and equipment is recognised in
the carrying amount of the item if it is probable that the future economic benefits embodied
within the component will flow to the Polytechnic and its cost can be measured reliably. The
carrying amount of the replaced component is derecognised. The costs of the day-to-day
servicing of property, plant and equipment are recognised in profit or loss as incurred.
Property, plant and equipment costing less than $2,000 are charged to statement of
comprehensive income in the year of purchase.
Depreciation
Depreciation is based on the cost of an asset less its residual value. Significant components of
individual assets are assessed and if a component has a useful life that is different from the
remainder of that asset, that component is depreciated separately.
Depreciation is recognised as an expense in profit or loss on a straight-line basis over the
estimated useful lives of each component of an item of property, plant and equipment.
Depreciation is recognised from the date that the property, plant and equipment are installed and
are ready for use, or in respect of internally constructed assets, from the date that the asset is
completed and ready for use.
The estimated useful lives for the current and comparative years are as follows:
Leasehold land
Leasehold buildings
Building improvements
Furniture, fittings and equipment
Computer hardware and software
Workshop equipment and machinery
Vehicles
Plant and machinery
-
Over lease term of 99 years
30 to 50 years
5 years
5 years
3 to 5 years
5 to 10 years
5 years
10 years
Depreciation methods, useful lives and residual values are reviewed at the end of each reporting
period and adjusted if appropriate.
FS12
Temasek Polytechnic
3.6
Impairment
Non-derivative financial assets
A financial asset not carried at fair value through profit or loss is assessed at the end of each
reporting period to determine whether there is objective evidence that it is impaired. A financial
asset is impaired if objective evidence indicates that a loss event has occurred after the initial
recognition of the asset, and that the loss event has an impact on the estimated future cash flows
of that asset that can be estimated reliably.
Objective evidence that financial assets (including equity securities) are impaired can include
default or delinquency by a debtor, restructuring of an amount due to the Polytechnic on terms
that the Polytechnic would not consider otherwise, indications that a debtor will enter
bankruptcy, adverse changes in the payment status of borrowers and economic conditions that
correlate with defaults or the disappearance of an active market for a security. In addition, for
an investment in an equity security, a significant or prolonged decline in its fair value below its
cost is objective evidence of impairment. The Polytechnic considers a decline of 20% to be
significant and a period of 9 months to be prolonged.
Loans and receivables
The Polytechnic considers evidence of impairment for loans and receivables at a specific asset
and collective level. All individually significant loans and receivables are assessed for specific
impairment. All individually significant loans and receivables found not to be specifically
impaired are then collectively assessed for any impairment that has been incurred but not yet
identified. Loans and receivables that are not individually significant are collectively assessed
for impairment by grouping together loans and receivables with similar risk characteristics.
In assessing collective impairment, the Polytechnic uses historical trends of the probability of
default, timing of recoveries and the amount of loss incurred, adjusted for management’s
judgement as to whether current economic and credit conditions are such that the actual losses
are likely to be greater or less than suggested by historical trends.
An impairment loss in respect of a financial asset measured at amortised cost is calculated as the
difference between its carrying amount and the present value of the estimated future cash flows
discounted at the asset’s original effective interest rate. Losses are recognised in profit or loss
and reflected in an allowance account against loans and receivables. Interest on the impaired
asset continues to be recognised. When the Polytechnic considers that there are no realistic
prospects of recovery of the asset, the relevant amounts are written off. If the amount of
impairment loss subsequently decreases and the decrease can be related objectively to an event
occurring after the impairment was recognised, then the previously recognised impairment loss
is reversed through profit and loss.
FS13
Temasek Polytechnic
Available-for-sale financial assets
Impairment losses on available-for-sale financial assets are recognised by reclassifying the
losses accumulated in the fair value reserve in accumulated surplus and reserve to profit or loss.
The cumulative loss that is reclassified from accumulated surplus and reserve to profit or loss is
the difference between the acquisition cost, net of any principal repayment and amortisation,
and the current fair value, less any impairment loss recognised previously in profit or loss.
Changes in cumulative impairment provisions attributable to application of the effective interest
method are reflected as a component of interest income. If, in a subsequent period, the fair value
of an impaired available-for-sale debt security increases and the increase can be related
objectively to an event occurring after the impairment loss was recognised, then the impairment
loss is reversed. The amount of the reversal is recognised in profit or loss. However, any
subsequent recovery in the fair value of an impaired available-for-sale equity security is
recognised in other comprehensive income.
Non-financial assets
The carrying amounts of the Polytechnic’s non-financial assets are reviewed at each reporting
date to determine whether there is any indication of impairment. If any such indication exists,
then the assets’ recoverable amount is estimated. An impairment loss is recognised if the
carrying amount of an asset or its related cash-generating unit (CGU) exceeds its estimated
recoverable amount.
The recoverable amount of an asset or CGU is the greater of its value in use and its fair value
less costs to sell. In assessing value in use, the estimated future cash flows are discounted to
their present value using a pre-tax discount rate that reflects current market assessments of the
time value of money and the risks specific to the asset or CGU. For the purpose of impairment
testing, assets that cannot be tested individually are grouped together into the smallest group of
assets that generates cash inflows from continuing use that are largely independent of the cash
inflows of other assets or CGUs.
Impairment losses are recognised in profit or loss. Impairment losses recognised in respect of
CGUs are allocated to reduce the carrying amounts of the other assets in the CGU (group of
CGUs) on a pro rata basis.
Impairment losses recognised in prior periods are assessed at each reporting date for any
indications that the losses have decreased or no longer exist. An impairment loss is reversed if
there has been a change in the estimates used to determine the recoverable amount. 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, net of depreciation or amortisation, if no
impairment loss had been recognised.
3.7
Lease payments
Payments made under operating leases are recognised in profit or loss on a straight-line basis
over the term of the lease.
FS14
Temasek Polytechnic
3.8
Employee benefits
Defined contribution plans
A defined contribution plan is a post-employment benefit plan under which an entity pays fixed
contributions into a separate entity and will have no legal or constructive obligation to pay
further amounts. Obligations for contributions to defined contribution pension plans are
recognised as an employee benefit expense in profit or loss in the periods during which services
are rendered by employees.
Short-term benefits
Short-term employee benefit obligations are measured on an undiscounted basis and are
expensed as the related service is provided. A liability is recognised for the amount expected to
be paid under short-term cash bonus or profit-sharing plans if the Polytechnic has a present legal
or constructive obligation to pay this amount as a result of past service provided by the
employee and the obligation can be estimated reliably.
3.9
Provisions
A provision is recognised if, as a result of a past event, the Polytechnic has a present legal or
constructive obligation that can be estimated reliably, and it is probable that an outflow of
economic benefits will be required to settle the obligation. Provisions are determined by
discounting the expected future cash flows at a pre-tax rate that reflects current market
assessments of the time value of money and the risks specific to the liability. The unwinding of
the discount is recognised as finance cost.
3.10
Revenue
Student fees
Tuition and other fees for an academic year are recognised over the period of service in a
financial year.
Income from courses/projects
Revenue from courses/projects is recognised based on percentage of completion, determined on
straight-line basis over the period of the courses/projects.
Donations
Donations are recognised upon receipt.
3.11
Finance income
Finance income comprises interest income on funds invested. Interest income is recognised as
it accrues in profit or loss, using the effective interest method.
FS15
Temasek Polytechnic
3.12
Government grants
Government grants related to assets in which the Polytechnic has discretionary management
power are taken directly to the Deferred Capital Grant account, or to the Statement of
Comprehensive Income for assets which are expensed off in the year of purchase.
Other government grants related to assets are initially taken to Government grant received in
advance account and upon their utilisation for the purchase of assets, they are transferred to the
Deferred Capital Grant account, or to the Statement of Comprehensive Income for assets which
are written off in the year of purchase.
The deferred capital grants are recognised in the Statement of Comprehensive Income over the
periods necessary to match the depreciation and write off of the property, plant and equipment
purchased with the related grants. Upon the disposal of the property, plant and equipment, the
balance of the related deferred capital grants is recognised in the Statement of Comprehensive
Income to reflect the net book value of the assets disposed.
Government grants to meet the current year’s operating expenses are taken to the Statement of
Comprehensive Income for the year. Government grants are accounted for on an accrual basis.
3.13
Tax
The Polytechnic is registered as a charitable institution with effect from the Year of Assessment
2008 or the financial year ended 31 March 2007, all registered charities will enjoy automatic
income tax exemption without having the need to meet the 80% spending rule and there is no
need to file income tax returns by virtue of Section 13(1)(zm) of the Income Tax Act, Chapter
134.
3.14 New standards and interpretations not adopted
A number of new standards, amendments to standards and interpretations are effective for the
annual periods beginning on or after 1 April 2014, and have not been applied in preparing these
financial statements. None of these is expected to have a significant effect on the financial
statements of the Polytechnic.
FS16
Temasek Polytechnic
4
Leasehold
land
$’000
Leasehold
buildings
$’000
Buildings
improvements
$’000
Furniture
fittings and
equipment
$’000
Computer
hardware
$’000
Workshop
equipment
and
machinery
$’000
Vehicles
$’000
Computer
software
$’000
Plant and
machinery
$’000
Cost
At 1 April 2013
Additions
Transfers
Disposals
At 31 March 2014
Additions
Transfers
Disposals
At 31 March 2015
66,889
–
–
–
66,889
–
–
–
66,889
480,123
8,898
21,948
(64)
510,905
6,264
25,085
(538)
541,716
26,987
950
1,246
(1,976)
27,207
5,970
812
(2,036)
31,953
69,644
11,316
–
(3,283)
77,677
2,229
6,650
(7,275)
79,281
71,694
6,327
–
(6,571)
71,450
6,722
2,548
(4,236)
76,484
47,487
2,439
–
(2,099)
47,827
2,678
273
(1,533)
49,245
98
8
–
(15)
91
–
–
–
91
48,430
2,041
441
(729)
50,183
2,928
561
(1,032)
52,640
111,095
9,755
423
–
121,273
17
10,329
(482)
131,137
Accumulated
depreciation
At 1 April 2013
Depreciation
Disposals
At 31 March 2014
Depreciation
Disposals
At 31 March 2015
12,030
703
–
12,733
703
–
13,436
141,437
10,308
(17)
151,728
11,379
(177)
162,930
22,247
1,605
(1,930)
21,922
2,202
(2,037)
22,087
54,839
4,711
(3,274)
56,276
7,475
(7,271)
56,480
63,567
5,664
(6,565)
62,666
6,735
(4,215)
65,186
41,683
2,475
(2,097)
42,061
2,610
(1,510)
43,161
90
4
(15)
79
4
–
83
40,807
4,165
(728)
44,244
3,967
(1,000)
47,211
84,073
3,998
–
88,071
5,448
(479)
93,040
Carrying amounts
At 1 April 2013
At 31 March 2014
At 31 March 2015
54,859
54,156
53,453
338,686
359,177
378,786
4,740
5,285
9,866
14,805
21,401
22,801
8,127
8,784
11,298
5,804
5,766
6,084
8
12
8
7,623
5,939
5,429
27,022
33,202
38,097
Capital
work-inprogress
$’000
30,221
60,224
(24,058)
–
66,387
75,818
(46,258)
–
95,947
–
–
–
–
–
–
–
30,221
66,387
95,947
Total
$’000
952,668
101,958
–
(14,737)
1,039,889
102,626
–
(17,132)
1,125,383
460,773
33,633
(14,626)
479,780
40,523
(16,689)
503,614
491,895
560,109
621,769
During the year, the amount of property, plant and equipment acquired by the Polytechnic which remains unpaid as at year-end amounts to
$4,098,000 (2014: $15,824,000) (Note 16). The cash outflow on acquisition of property, plant and equipment amounted to $98,528,000 (2014:
$86,134,000).
FS17
Temasek Polytechnic
5
2014/15
$
Unquoted equity shares, at cost
2013/14
$
2
2
Details of subsidiaries are as follows:
Name of subsidiary
Principal activities
Country of
registration
and operation
Equity
interest held
2014/15 2013/14
%
%
Held by the Polytechnic:
TP Innovation Holdings Pte Ltd
Investment company to
promote and
commercialise Temasek
Polytechnic’s research
and development results,
technology, design or
business innovations
Singapore
100
100
Company dealing with
matters relating to and
connected to education,
course know-how,
training of personnel, on
the job training and/or
internship placements for
students and granting
licences and franchises
Singapore
100
100
Held by the subsidiary:
TP Education Services Pte Ltd
At the reporting date, the Polytechnic had given an undertaking to provide continuing financial
support to the subsidiaries.
The assets, liabilities and results of the subsidiaries have not been consolidated as they are not
considered to be material to the Polytechnic’s financial statements.
FS18
Temasek Polytechnic
6
2014/15
$’000
Non-current
At cost:
Unquoted equity shares
At fair value:
Financial assets available-for-sale
Quoted debt securities
Current
At fair value:
Financial assets available-for-sale
Quoted securities managed by fund managers
- equity
- unit trust/real estate investment trusts
2013/14
$’000
458
458
28,691
29,149
63,556
64,014
23,615
−
24,088
47,070
94,773
19,561
44,621
64,182
As at the reporting date, the quoted debt securities bear interest rate of from 3.25% to 5.75%
(2014: 3.25% to 5.75%) per annum. Interest is receivable on a semi-annual basis. The maturity
dates of debt securities range from 15 December 2015 to perpetual (2014: 10 September 2014 to
24 August 2020).
Investments managed by fund managers form part of the Polytechnic’s funds which are
administered by asset management companies (fund managers). The fund managers are given
discretionary powers within certain guidelines to invest the funds.
The Polytechnic’s available-for-sale investments that are not denominated in its functional
currency are as follows:
2014/15
$’000
Australian dollar
Hong Kong dollar
United States dollar
Indonesian rupiah
Thailand baht
Great Britain pound
Others
1,622
1,160
49,161
97
206
(80)
3,637
2013/14
$’000
−
2,071
25,573
1,374
1,406
1,365
5,517
FS19
Temasek Polytechnic
7
2014/15
$’000
Trade receivables
Deposits
Singapore Totalisator Board grant (“Tote grant”)
Loans due from subsidiaries
Fund manager
Sundry debtors
1,048
382
350
218
109
6470
8,577
2013/14
$’000
716
249
174
201
−
4,326
5,666
The Company’s exposure to credit risk and impairment losses related to trade and other
receivables is disclosed in note 22.
8
2014/15
$’000
Cash at bank and on hand
Cash with the AGD
Total cash and bank balances
Less:
Cash and cash equivalents managed by fund managers:
- Cash at bank and on hand
Net cash and cash equivalents in cash flow statement
2013/14
$’000
(1,188)
200,953
199,765
(2,232)
247,725
245,493
(1,056)
198,709
(2,378)
243,115
Cash with the Accountant-General’s Department (“AGD”) refers to cash that are managed by
the AGD under Centralised Liquidity Management (“CLM”) as set out in the AccountantGeneral's Circular No.4/2009 Centralised Liquidity Management for Statutory Boards and
Ministries.
The interest rate of cash with AGD, defined as the ratio of the interest earned to the average
cash balance, is 0.79% (2014: 0.52%) or ranges from 0.64% to 0.99% (2014: 0.43 to 0.61%) per
annum.
FS20
Temasek Polytechnic
9
Accumulated surplus and reserve
General Fund
As at the reporting date, the Polytechnic has capital commitments of approximately $29 million
(2014: $88 million).
Restricted Funds
Restricted Funds comprise the following funds:
Name of Fund
Purpose
Bursary, Scholarship and Awards Fund
Providing financial assistance to needy
students, scholarships to students and book
prizes and medals to students and graduates
who excel academically and in extra-curricular
activities.
Staff Apartment Fund
Maintaining and upgrading of the Polytechnic’s
staff apartments.
Providing financial support for:
(a)
(b)
(c)
(d)
(e)
(f)
staff development;
student development, focusing on
international exchange;
promotion of innovation;
bringing relevant world-class expertise to
the Polytechnic;
scholarships to outstanding students; and
bursaries to deserving needy students
Miscellaneous Fund
– Self Financing Project Fund
Conducting pre-employment education for the
hospitality and tourism workforce in Singapore,
short and continuing education courses;
upgrading Polytechnic’s teaching facilities; and
providing welfare and wellness activities for the
Polytechnic’s students and staff.
– Special Projects Fund
Providing training and placement for working
adults with funding from Government agencies
and external parties.
The Bursary, Scholarship and Awards Fund and Temasek Polytechnic Endowment Fund are
included in the Temasek Polytechnic General Education Fund (See Note 21).
FS21
Temasek Polytechnic
Restricted Funds
Operating income
Donations:
- Tax deductible
- Non-tax deductible
Other income
Operating expenditure
Depreciation
IT and information communication
Other expenditure
expensed off
Rental
Repairs and maintenance
Salaries, CPF and other related costs
Teaching materials and resources
Bursary, Scholarship
and Awards Fund
2014/15
2013/14
$’000
$’000
2014/15
2013/14
$’000
$’000
Temasek Polytechnic
Endowment Fund
2014/15
2013/14
$’000
$’000
Miscellaneous Fund
2014/15
2013/14
$’000
$’000
Total
2014/15
$’000
2013/14
$’000
–
–
–
–
–
–
1,793
1,783
1,793
1,783
921
164
–
1,085
575
317
–
892
–
–
578
578
–
–
564
564
–
–
–
–
–
–
–
–
–
–
7
1,800
–
–
15
1,798
921
164
585
3,463
575
317
579
3,254
–
–
–
882
–
–
–
963
–
1
–
588
–
1
–
619
–
–
–
170
–
–
–
314
1,819
3
49
54
1,652
10
39
117
1,819
4
49
1,694
1,652
11
39
2,013
–
–
–
–
–
882
–
–
–
–
–
963
–
–
–
–
–
589
4
–
–
–
–
624
–
–
–
–
–
170
–
–
–
–
–
314
40
651
263
1,307
2
4,188
–
747
212
1,243
–
4,020
40
651
263
1,307
2
5,829
4
747
212
1,243
–
5,921
FS22
Temasek Polytechnic
Restricted Funds
Bursary, Scholarship
and Awards Fund
2014/15
2013/14
$’000
$’000
2014/15
2013/14
$’000
$’000
Temasek Polytechnic
Endowment Fund
2014/15
2013/14
$’000
$’000
Miscellaneous Fund
2014/15
2013/14
$’000
$’000
Total
2014/15
$’000
2013/14
$’000
Operating surplus/(deficit)
203
(71)
(11)
(60)
(170)
(314)
(2,388)
(2,222)
(2,366)
(2,667)
Non-operating income
Interest income
Surplus/(deficit) before grants
21
224
7
(64)
–
(11)
–
(60)
634
464
373
59
180
(2,208)
108
(2,114)
835
(1,531)
488
(2,179)
–
–
224
823
1,047
–
–
(64)
887
823
–
–
(11)
3,256
3,245
–
–
(60)
3,316
3,256
–
–
464
590
1,054
–
–
59
531
590
41
2,807
640
29,773
30,413
7
2,892
785
28,988
29,773
41
2,807
1,317
34,442
35,759
7
2,892
720
33,722
34,442
15
–
7
3,267
6
–
19
3,270
–
–
165
889
–
–
55
535
1
2,555
720
27,739
3
213
455
29,755
16
2,555
905
33,310
9
213
535
34,785
–
(44)
–
3,245
–
(39)
–
3,256
–
–
–
1,054
–
–
–
590
(142)
(459)
(1)
30,413
(182)
(469)
(2)
29,773
(142)
(884)
(1)
35,759
(182)
(916)
(2)
34,442
Grants
Deferred capital grant amortised Government
Operating grant - Government
Surplus/(deficit) for the year
Accumulated surplus at 1 April
Accumulated surplus at 31 March
Represented by:
Government grant receivables
Cash and bank balances
Government grants received in
advance
Deferred capital grant - Government
–
–
13
1,415
–
(381)
–
1,047
–
–
6
1,225
–
(408)
–
823
FS23
Temasek Polytechnic
10
Donations and contributions made to the Temasek Polytechnic Endowment Fund are retained as
principal capital to be kept intact to earn income. Income and expenditure of the fund are taken
to "Restricted Funds" in the Statement of Comprehensive Income.
2014/15
$’000
At 1 April
Donations received
Matching grant received from Government
At 31 March
2013/14
$’000
10,359
3,500
3,939
17,798
6,358
1,850
2,151
10,359
13,709
4,089
17,798
8,208
2,151
10,359
Represented by:
Investment in debt securities
During the year, a matching grant was received from MOE amounting to $939,000 (2014:
$1,626,000) for non-endowed donations received which were recognised in the Statement of
Comprehensive Income.
11
Other funds
(a)
Tuition Fee Loan
Tuition fee loan comprises advances from the Government, which provides tuition fee loans to
students. The tuition fee loans are administered by a financial institution. Loans given to
students are interest-free until the year of their graduation, or for those with National Service
obligation, in the year in which they finish their National Service. Thereafter, loans are
repayable by monthly instalments with interest based on the average prime rates of banks or
such other rate as may be determined by the Polytechnic.
Repayment of the loans will eventually be returned to the Government. Accordingly, the
carrying amounts of staff and student loans approximate their fair values.
2014/15
$’000
At 1 April
Amount contributed by Government
Amount refunded to Government
At 31 March
2013/14
$’000
5,871
1,357
(1,488)
5,740
5,829
1,588
(1,546)
5,871
5,740
5,871
Represented by:
Outstanding loans:
Tuition fee loans
FS24
Temasek Polytechnic
(b)
Campus Care Network Fund
The campus care network ("CCN") fund was set up to provide crisis assistance, emergency
assistance as well as education assistance to needy students. The source of fund comes mainly
from proceeds collected through fund raising activities among students and staff within the
campus on CCN days. The fund is managed by a CCN committee.
2014/15
$’000
(c)
2013/14
$’000
At 1 April
Contribution received
Other income
Relief to students
At 31 March
281
71
4
(66)
290
269
62
3
(53)
281
Represented by:
290
281
Khoo Teck Puat International Opportunity Programme Fund
The Estate of Tan Sri Khoo Teck Puat launched the Khoo Teck Puat International Opportunity
Programme (“KTPIOP”) on 18 December 2007. The KTPIOP is supported by this fund. This
programme aims to provide needy students from the Polytechnic an opportunity to obtain an
overseas education experience. The fund is managed and disbursed by MOE to the Polytechnic
which will administer the application and award processing on behalf of the donor.
2014/15
$’000
At 1 April
Financial assistance to students
At 31 March
Represented by:
3
110
(60)
53
53
2013/14
$’000
93
33
(123)
3
3
FS25
Temasek Polytechnic
(d)
Ministry of Education Opportunity Fund
During FY13/14, the Ministry of Education extended the Ministry of Education Opportunity
Funds (“MOEOF”) to Polytechnics. These grants are to be used to level up co-curriculum
development opportunities for Singaporean students from lower income households.
2014/15
$’000
12
2013/14
$’000
At 1 April
Financial assistance to students
Interest earned from unutilised funds
At 31 March
3,349
–
(168)
21
3,202
–
3,419
(74)
4
3,349
Represented by:
3,202
3,349
Fees received in advance from Singapore Institute of Technology (“SIT”) for the usage of the
Polytechnic's facilities by SIT students will be amortised over a 30-year period commencing
from 14 March 2014 in accordance with the service agreement between the Polytechnic and
SIT.
13
Deferred capital grants - Government
Note
Grants utilised as at 1 April
Grants utilised on property, plant and equipment:
Development grants
Operating grants
Furniture and equipment (“F&E”) and Information
Technology (“IT”) grants
Amortisation
Grants utilised as at 31 March
20
2014/15
$’000
2013/14
$’000
557,280
488,508
70
90,169
47,557
43,404
12,878
660,397
(40,919)
619,478
13,393
592,862
(35,582)
557,280
FS26
Temasek Polytechnic
14
Deferred capital grants - others
2014/15
$’000
At 1 April
Grants utilised on property, plant and equipment
Total
Amortisation
At 31 March
15
2,825
619
3,444
(1,165)
2,279
Non-current:
F&E and IT grants unutilised as at 1 April
Grants received
Grants utilised
F&E and IT grants unutilised as at 31 March
Current:
Others
2013/14
$’000
49,373
25,476
(16,044)
58,805
40,983
25,774
(17,384)
49,373
326
59,131
187
49,560
Note
Trade payables
Fund manager
Sundry creditors
Accruals for property, plant and equipment projects
Other accruals
Deferred income for courses in progress
17
3,386
542
3,928
(1,103)
2,825
2014/15
$’000
16
2013/14
$’000
4
2014/15
$’000
4,629
–
12,966
4,098
15,769
2,391
39,853
2013/14
$’000
5,564
743
10,900
15,824
17,773
2,488
53,292
Operating deficit
The item has been arrived at after charging/(crediting):
2014/15
$’000
Contribution to defined contribution plan
included in salaries
Exchange gains
21,273
(33)
2013/14
$’000
20,274
(24)
FS27
Temasek Polytechnic
18
Interest income
2014/15
$’000
Current accounts with financial institutions
Debt securities
Fixed deposits
19
1,247
3,831
1
5,079
915
4,089
5
5,009
Investment income
2014/15
$’000
Dividend income from available-for-sale investments
(Loss)/Gain on disposal of available-for-sale
investments
20
2013/14
$’000
423
(298)
125
2013/14
$’000
655
1,731
2,386
Operating grants - Government
Note
Operating grants received/receivable during the year
Less:
Operating grants utilised on property, plant and
equipment transferred to deferred capital grants Government
2014/15
$’000
13
2013/14
$’000
219,052
214,048
(90,169)
128,883
(43,404)
170,644
During the financial year, the Polytechnic received a grant of $19,611,000 (2014: $18,941,000)
from the Ministry of Education to settle the outstanding goods and services tax payable to the
Inland Revenue Authority of Singapore. This amount has not been included in the operating
grants received from the Government as disclosed above.
21
The Temasek Polytechnic General Education Fund
In November 2002, the Board of Governors of the Polytechnic approved the setup of the
Temasek Polytechnic General Education Fund. The Fund was subsequently granted the
membership by the Ministry of Education under the Education Central Fund. The membership
was renewed for a period of three years with effect from 1 April 2013.
Under this membership, the Polytechnic is allowed to issue tax-deductible receipts to donors for
donations contributed towards Bursary, Scholarship and Awards Fund, Temasek Polytechnic
Endowment Fund and other education related activities which qualify for tax deduction. The
Polytechnic has set up a Management Committee to administer the receipts and disbursement of
the donations given by the donors.
FS28
Temasek Polytechnic
The financial statements of the Temasek Polytechnic General Education Fund are given below:
2014/15
$’000
Income
Donations received:
Bursaries, scholarships and awards
- Tax deductible
- Non tax deductible
General donations
Donations in-kind
Interest income
Deferred capital grant amortised for donated assets
Expenditure
Disbursements:
Endowment Fund
Bursaries, scholarships and awards
General donations
Property, plant and equipment expensed off
Depreciation
Net surplus/(deficit) for the year
Accumulated surplus at 1 April
Accumulated surplus at 31 March
2013/14
$’000
921
164
32
1
655
318
2,091
575
317
56
7
380
314
1,649
(170)
(882)
(19)
(1)
(318)
(1,390)
(313)
(964)
(60)
(7)
(314)
(1,658)
701
1,434
2,135
(9)
1,443
1,434
The disbursements were made from donations received in current and prior years.
The reserves set aside are to provide financial stability and to ensure a continuous supply of
funds to meet the objectives of the Fund. The target is to maintain the reserves at a level
equivalent to one year’s disbursements and expenses. The reserves will be used to provide
financial assistance to needy students, scholarships, bursaries, book prizes and for other
education related activities. The Management Committee will review the reserves on a yearly
basis to ensure they are adequate to fulfil the objectives of the Fund.
The donations and disbursements are recorded in the respective funds in the financial
statements.
22
Financial risk management
Overview
The Polytechnic has exposure to the following risks from its use of financial instruments:





credit risk
liquidity risk
interest rate risk
equity price risk
currency risk
FS29
Temasek Polytechnic
This note presents information about the Polytechnic’s exposure to each of the above risks, the
Polytechnic’s objectives, policies and processes for measuring and managing risk.
Risk management framework
Risk management is integral to the whole business of the Polytechnic. The Polytechnic has a
system of controls in place to create an acceptable balance between the cost of risks occurring
and the cost of managing the risks. The management continually monitors the Polytechnic’s
risk management process to ensure that an appropriate balance between risk and control is
achieved. Risk management policies and systems are reviewed regularly to reflect changes in
market conditions and the Polytechnic’s activities.
Credit risk
Credit risk is the potential loss resulting from the failure of a student or a counterparty to settle
its financial and contractual obligations to the Polytechnic, as and when they fall due.
At the reporting date, there was no significant concentration of credit risk except for
Government grant receivables, funds managed by fund managers and quoted debt securities.
The maximum exposure to credit risk is represented by the carrying amount of each financial
asset in the statement of financial position. Cash and fixed deposits and funds are placed with
banks and financial institutions which are regulated.
The cash with AGD under Centralised Liquidity Management (“CLM”) are placed with high
credit quality financial institutions, and are available upon request.
The average credit period on trade receivable from student fees is 14 to 30 days (2014: 14 to 30
days). No interest is charged on the outstanding trade receivables. The Polytechnic has not
recognised any allowance for doubtful debts as the management are of the view that these
receivables are recoverable.
Included in the Polytechnic’s trade receivable balance are debtors with a carrying amount of
$866,000 (2014: $593,000) which are past due at the reporting date for which the Polytechnic
has not provided as there has not been a significant change in the credit quality and the amounts
are still considered recoverable. The aging profile of the trade receivables are as follows:
Impairment
The ageing of trade and other receivables at the reporting date was:
Gross
2014/15
$’000
Neither past due nor impaired
Less than 3 months past due
3 months to 12 months
More than 12 months
203
764
63
39
1,069
Impairment
Impairment
losses
losses
Gross
2013/14
2014/15
2013/14
$’000
$’000
$’000
–
–
–
21
21
123
498
53
42
716
–
–
–
–
–
FS30
Temasek Polytechnic
Liquidity risk
The Polytechnic monitors its liquidity risk and maintain a level of cash and cash equivalents
deemed adequate to finance the Polytechnic’s operations and to mitigate the effects of
fluctuations in cash flow.
The total contractual undiscounted cash flow of the Polytechnic’s non-derivative financial
liabilities are the same as their carrying amounts and are due within one year.
Interest rate risk
As the Polytechnic does not have any financial assets and liabilities which bear interest at
floating rates, no sensitivity analysis is prepared.
The interest rates for cash with AGD disclosed in Note 8 to the financial statements are based
on deposit rates determined by the financial institutions with which the cash are deposited and
are expected to move in tandem with market interest rate movements.
Equity price risk
The Polytechnic is exposed to equity risks arising from equity investments classified as
available-for-sale investments. Available-for-sale investments are held for strategic rather than
trading purposes.
Equity price sensitivity
The sensitivity analysis below has been determined based on the exposure to equity price risks
at the reporting date. 10% is the sensitivity rate used when reporting equity price sensitivity
internally to key management personnel and represents management’s assessment of the
possible change in equity price.
In respect of available-for-sale investments, if the market value of the quoted investments had
been 10% higher:
• the Polytechnic’s fair value reserves for the year ended 31 March 2015 would increase by
$12 million (2014: increase by $13 million).
In respect of available-for-sale investments, if the market value of the quoted investments had
been 10% lower:
• the Polytechnic’s fair value reserves for the year ended 31 March 2015 would decrease by
$12 million (2014: increase by $13 million).
FS31
Temasek Polytechnic
Currency risk
Some of the Polytechnic’s underlying investments are denominated in various foreign
currencies, including United States dollars and Hong Kong dollars. The exchange exposures in
these foreign currency denominated investments are managed by the Polytechnic’s fund
managers through forward foreign exchange contracts. These forward foreign exchange
contracts form part of the respective investment portfolio managed by the fund managers as
disclosed in Note 6 to the financial statements and therefore are not separately disclosed.
Fair value hierarchy
As at 31 March 2015, the Polytechnic has financial instruments measured at fair value. The
different levels have been defined as follows:
•
Level 1:
quoted prices (unadjusted) in active markets for identical assets or liabilities;
•
Level 2:
inputs other than quoted prices included within Level 1 that are observable for
the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived
from prices); and
•
Level 3:
inputs for the asset or liability that are not based on observable market data
(unobservable inputs).
Level 1
$’000
31 March 2015
Quoted securities managed by
fund manager
- equity
- unit trust/real estate
investment trust
31 March 2014
Quoted securities managed by
fund manager
- equity
- unit trust/real estate
investment trust
Level 2
$’000
Level 3
$’000
Total
$’000
52,306
–
–
52,306
24,088
–
–
24,088
47,070
123,464
–
–
–
–
47,070
123,464
63,556
–
–
63,556
19,561
–
–
19,561
44,621
127,738
–
–
–
–
44,621
127,738
FS32
Temasek Polytechnic
Accounting classifications and fair values
Fair values versus carrying amounts
The fair values of financial assets and liabilities, together with the carrying amounts shown in
the statement of financial position are as follows:
Loans and Availablereceivables for-sale
Note
$’000
$’000
31 March 2015
Available-for-sale securities
Government grant receivable
6
7
8
–
8,577
199,765
14,595
222,937
123,464
–
–
–
123,464
16
–
–
31 March 2014
Available-for-sale securities
Government grant receivable
6
7
8
–
5,666
245,493
18,332
269,491
127,738
–
–
–
127,738
16
–
–
Other
financial
liabilities
$’000
Total
carrying
amount
$’000
Fair value
$’000
–
–
–
–
–
123,464
8,577
199,765
14,595
346,401
123,464
8,577
199,765
14,595
346,401
(39,853)
(39,853)
127,738
5,666
245,493
18,332
397,229
127,738
5,666
245,493
18,332
397,229
(53,292)
(53,292)
(39,853)
–
–
–
–
(53,292)
Estimation fair values
Other financial assets and liabilities
The carrying amounts of financial assets and liabilities with a maturity of less than one year
(including trade and other receivables, cash and cash equivalents, and trade and other payables)
are assumed to approximate their fair values. All other financial assets and liabilities are
discounted to determine their fair values.
23
Other income
2014/15
$’000
Grants and awards
Rental income
School/department income
Others
1,344
1,015
2,206
2,013
6,578
2013/14
$’000
917
921
1,740
1,845
5,423
FS33
Temasek Polytechnic
24
Commitments
2014/15
$’000
Minimum lease payments under operating leases
included in the statement of comprehensive income
925
2013/14
$’000
1,011
At the reporting date, the Polytechnic has outstanding commitments under non-cancellable
operating leases, which fall due as follows:
2014/15
$’000
Within one year
After one year but within five years
579
812
1,391
2013/14
$’000
775
246
1,021
Operating lease payments represent rentals payable by the Polytechnic for its office premises
and office equipment. Leases are negotiated and rentals are fixed for an average term of 1 to 5
years (2014: 1 to 5 years).
25
Appropriation of accumulated surplus
The Polytechnic received a memorandum from the Ministry of Education dated 3 July 2002
which confirmed that the Ministry of Finance ("MOF") had no objection for the Polytechnic to
retain the unutilised surpluses generated prior to financial year ended 31 March 2001 as
working capital.
With effect from 1 April 2001, the Polytechnic is allowed to retain all the surpluses generated in
accordance with the MOF's circular dated 4 December 2000. The circular was subsequently
replaced by the MOF's circular dated 4 May 2011 which states the same stand on the surplus
retention.
26
Related parties
The Polytechnic is a statutory board domiciled in Singapore under the Temasek Polytechnic Act
(Chapter 323A). As a statutory board, all Government ministries and departments, and statutory
boards are deemed related parties of the Polytechnic.
Some of the Polytechnic’s transactions and arrangements are with related parties and the effect
of these on the basis determined between the parties is reflected in these financial statements.
The balances are unsecured, interest-free and repayable on demand unless otherwise stated.
FS34
Temasek Polytechnic
During the year, the Polytechnic entered into the following transactions with related parties:
2014/15
$’000
2013/14
$’000
Grant/Operating income
Ministry of Education (MOE)
Other Ministries and Statutory Boards
281,617
4,404
310,906
8,333
Expenses
Key management personnel
(1,853)
(887)
(792)
(2,137)
(1,098)
(276)
12,047
2,980
9,859
255
184
279
5
216
Balances due from related parties as at 31 March
Balances due to related parties as at 31 March
Compensation of Directors and key management personnel
Key management personnel of the Polytechnic are those persons having the authority and
responsibility for planning, directing and controlling the activities of the entity. The Principal,
Deputy Principals and Directors are considered as key management personnel of the
Polytechnic.
2014/15
$’000
Short-term benefits
Defined contribution plans
7,555
319
2013/14
$’000
7,255
302
FS35

temasek polytechnic annual report 2014/2015

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