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Annual Report 2012
Seeding
connections,
reaching
further
mission
To Enrich the legacy of our Cohesive
and Vibrant Eurasian Community that
is integrated with and Contributing to a
Multi-ethnic, Multi-religious and Multicultural Singapore.
core
values
Our core values for the Association Pride, Humility, Integrity, and Excellence.
Pride for the Community.
Humility in our Actions.
Integrity in our Conduct.
Excellence in our Social Responsibility
for the Community through Education,
Family Support, and Community
Development Programmes.
contents
02
MANAGEMENT COMMITTEE
03
NOTICE AND AGENDA
04
PRESIDENT’S MESSAGE
05
HONORARY SECRETARY REPORT
20
Social Circle
Events Organised
Read@EA section
Artsy Craftsy section
Mahjong Therapy section
Balut section
External Events
09
MINUTES OF AGM 2012
24
Toastmasters Club
12
EDUCATION
EA Education Schemes 2012
EA Education Events 2012
15
FAMILY SUPPORT SERVICES
Project Spark
Friends of FSS
FSS Christmas Party
Christmas Hampers
Tea with Neighbours
25
CORPORATE COMMUNICATIONS
The Communications Committee
The NewEurasian Magazine
E-Newsletter
Website
Facebook
Twitter
16
COMMUNITY DEVELOPMENT
Youth and Sports
Youth
EA Soccer
EA Dragonboat
18Heritage
Eurasian Heritage Centre
The Eurasian Experience
Keeping our Eurasian Heritage Alive
19
26
VOLUNTEER MANAGEMENT
Volunteer Appreciation
26
HOUSE OPERATIONS
Eddie’s Place
Utilisation of Facilities
House Maintenance
Sinking Fund
27
TREASURER’S REPORT
Performing Arts Chapter (PAC)
Chingay Parade 2012
Inter-Religious Inter-Racial Concert
The Eurasian Association Annual Report 2012
01
management
committee
POST
NAME
President
Mr. Benett Theseira
Vice-President
Mr. Vincent Schoon
2nd Vice-President
Ms. Yvonne Marie Pereira
Honorary Secretary
Ms. Carla Jacqueline Barker
Honorary Treasurer
Mr. Paul Leong
Committee Members
Mr. Geoffrey da Silva
Ms. Francesca Eber
Mr. Graham Gerard
Ong-Webb
Mr. Christian Eber
Ms. Michelle Ayn
Tessensohn
Ms. Angelina Fernandez
PATRONS
Mr. Herman R. Hochstadt
Mr. SR Nathan
Mr. George Yeo
TRUSTEES
Mr. Oscar Oliveiro
Mr. Barry Desker
Mr. Timothy de Souza
Mr. Joseph F. Conceicao
Mr. Gerald Minjoot
Mr. Gerard de Silva
MANDATORY COMMITTEES
AUDIT COMMITTEE
Mr. Daryl Pereira
Ms. Helen Lee
Ms. Boris Link
FUNDRAISING COMMITTEE
Mr. Francis Remedios
Mr. Ralph Stanley
02
NON-MANDATORY COMMITTEES
LEGAL ADVISORY PANEL
Mr. Martin Marini
Mr. Michael Palmer
Ms. Susan de Silva
Mr. William da Silva
MC MEMBERS EXTERNAL COMMITTEES
Compulsory Education Board,
Ministry of Education
Joint Tuition Awards Committee
Mrs. Yvonne Marie Pereira
Ministry of Culture, Community and Youth (MCCY)
Mr. Vincent Schoon
OnePeople.Sg
Fathers Action Network
(National Family Council)
Inter-racial Inter-religious (IRIR) Working Committee
Ms. Francesca Eber
South-East CDC
Notice
and Agenda
1.NOTICE IS HEREBY GIVEN THAT THE ANNUAL GENERAL MEETING OF THE EURASIAN ASSOCIATION, SINGAPORE, WILL BE HELD
AT THE EURASIAN COMMUNITY HOUSE, 139 CEYLON ROAD, SINGAPORE ON FRIDAY, 12 APRIL 2013 AT 7.30PM.
2.AGENDA
2.1
President’s address
2.2.
To confirm the minutes of the Annual General Meeting held on 20 April 2012
2.3.
Matters arising from the minutes of the Annual General Meeting held on 20 April 2012
2.4.
To receive the Annual Report and Audited Financial Statements for the year ending 31 December 2012 pursuant to Clause 25(a) of the rules
of The Eurasian Association, Singapore and Clause 23.2(b)(iv) of the AGM Bye-Laws
2.5.
To appoint the Association’s Auditors for the ensuing year
2.6.
To discuss any other matters arising in accordance with the Rules of the Association
3.NOTES
3.1.
The Annual Report includes the following:
3.1.1. Minutes of the Annual General Meeting held on 20 April 2012
3.1.2. Audited Financial Statement of The Eurasian Association
3.1.3. Audited Financial Statement of The Eurasian Association Endowment Fund
3.1.4. Nomination Form
3.2.
The Annual General Meeting is open only to registered members of the Association
3.3.
Registration procedures:
3.3.1. Each member shall produce her/his identity card to the relevant Registration Officer
3.3.2. The Registration Officer shall check that the name of each person seeking admission to the Annual General Meeting appears on the
Membership Roll
3.3.3. Each Member shall initial against her/his name in the Membership Roll
By Order of
The Management Committee
Honorary Secretary
Registered Office:
139 Ceylon Road, Singapore 429744
Date: 22 January 2013
03
President’s
message
The year 2012 has been a fruitful one
for EA and the Eurasian Community.
Apart from our continued focus on
our key pillars of Education and Family
Support Services, we have also made
much progress in our third pillar,
Community Development, where
we put in place several initiatives to
strengthen the foundations of EA and
the fabric of the Eurasian Community.
In March 2012, we held our first major
event to bring together Eurasians
from across the region, “The Eurasian
Reunion”. The event included the
official opening of the new “Roots
of the Community” in our Eurasian
Heritage Centre and a conference that
discussed issues relating to the “Future
of the Eurasian Community”, the
success of the “Community Self-Help
Model” and strategies for “Building
Future Leaders”. We were very pleased
to have such a strong turnout for
this event, which included over 200
Eurasians from Singapore and more
than 40 from Malaysia, Australia, New
Zealand, India and Thailand.
We are also very privileged to have
Minister S Iswaran, Minister in the
Prime Minister’s Office, Second Minister
for Home Affairs and Second Minister
for Trade and Industry, appointed to
represent the Eurasian Community in
Cabinet. Minister Iswaran has had a
long association with EA since his days
as the founding CEO of the Indian
self-help group, SINDA. In October, we
also celebrated the appointment of two
additional patrons for the EA, the sixth
President of Singapore, Mr SR Nathan,
and former Cabinet Minister, Mr
George Yeo. On behalf of the Eurasian
Community, I would like to thank them
for their service to the community; it
is certainly a privilege to have such
illustrious gentlemen assisting us and
looking after our interests.
In September, we were proud to see
many bright and talented young
Eurasians reaping rewards from their
hard work and achievements. A total
of $47,000 in merit and bursary awards
was given out to 217 Eurasian students
from primary, secondary and tertiary
levels during the Eurasian Community
Fund (ECF) education awards ceremony
04
that was held at St Patrick’s School.
The ECF education awards ceremony
continues to be an annual event to
acknowledge academic excellence and
achievements amongst our students
in the Eurasian Singapore community.
The EA also awarded scholarships
to 2 ITE and 2 Polytechnic students
and University scholarships were also
awarded to 2 deserving students. In
conjunction with numerous donors and
charitable organizations, EA administers
various other bursaries and financial
assistance schemes for Eurasian
students. In conjunction with the
other 3 self help groups, EA provides
subsidised tuition programmes which
serve the needs of 9 Eurasian students.
The FSS committee has been active
in 2012 and continued to support
133 clients through various assistance
schemes including financial support and
food ration deliveries. We also continue
to run our befriender programmes,
counseling sessions and help clinics
for the needy in our community. One
of the highlights of the many FSS
activities in 2012 was the Christmas
lunch we organized for our FSS clients,
where 100 of them were treated to an
enjoyable Christmas celebration thanks
the support of generous donors and
the teachers and students from the
International School of Singapore and
St Anthony’s Convent. We hope our FSS
programmes will continue to make a
positive and long lasting impact in the
lives of the people we support.
We have stepped up our efforts on
Community Development through
the year, increasing the frequency of
our Sunday lunches and participated
in various external community events
such as the annual Chingay Parade,
the annual Orange Ribbon Ceremony,
the annual Inter-Racial Inter-Religious
Harmony Nite as well as the inaugural
Malaysian Eurasian Games in Penang.
We have also increased our suite of
social and active aging programmes
which now include a reading club, arts
and crafts, balut and mahjong therapy.
For the youth, we have launched our
Young Professional Eurasians group
which is an initiative we intend to
grow in 2013. Our Toast Masters and
Dragon Boat clubs continue to do
well and win awards and we have relaunched our Soccer Club after a lapse
of almost 5 years.
Our traditional joint Christmas tree
light-up event at the SRC in November
2012 was a wonderful way to establish
and reaffirm our historic ties with
the SRC. The Social Circle celebrated
year end festivities with their annual
Children’s Christmas Treat and Family
Carnival, as well as the Christmas
dinner and dance. We ended the year
with a successful and very enjoyable
New Year’s Eve dinner and dance
celebration held at the Concorde Hotel.
On the financial front, we have had
quite a successful year and ended with
a reasonable surplus of $232,171.
Donations to the ECF via members CPF
accounts have increased 5% from 2011
to $495,943 in 2012. We have also
been fairly successful with our fund
raising efforts and raised $174,815
through the year from donations and
fund raising events, including our
collaboration with Quentin Pereira on
his Heritage Cooking book launch.
As we bring a close to what has been
a busy year, I would like to express my
heartfelt thanks to the hardworking
staff in our Secretariat team, all our
Volunteers and generous Donors, our
Patrons and Board of Trustees as well
as my fellow Management Committee
members for all their support and
hard work throughout the year. There
still remains a lot more that we can
do for the betterment of the Eurasian
Community and it is my hope that
more in the community will come
forward to help us. The EA is a focal
point for the Eurasian Community and
a platform for us to come together to
help each other. It is only by working
together that we can leverage on our
collective strengths and ensure a strong
voice and a vibrant future for the
Eurasian Community in Singapore.
BENETT THESEIRA
President
Honorary
Secretary’s Report
The development on youth leadership particularly in the Eurasian
community in Singapore has seen a steady growth.
The Management Committee is pleased to present the Annual Report of the Eurasian
Association (henceforth referred to as ‘The Association’) and the Financial Statement
of the Association for the period from 1 January 2012 to 31 December 2012.
In April 2012, Mr. Graham Gerard Ong-Webb joined the Management Committee
and was also appointed the Youth Chairperson. Ms. Michelle Ayn Tessensohn also
joined the Management Committee in the same month.
As of 31 December 2012, the Management Committee consists of the following:
POST
NAME
President
Mr. Benett Theseira
1st Vice-President
Mr. Vincent Schoon
2nd Vice-President
Ms. Yvonne Marie Pereira
Honorary Secretary
Honorary Treasurer
Mr. Paul Leong
Committee Members
Mr. Michael Palmer, EA President Benett Theseira, Minister S Iswaran and
Mr. Christopher de Souza posing for the camera with EA new patrons,
Mr. George Yeo and Mr. SR Nathan.
Ms. Francesca Eber
Mr. Graham Gerard Ong-Webb
Mr. Christian Eber
Mr. Michelle Ayn Tessensohn
Ms. Angelina Fernandez
Mr. Christian Eber resigned from the Management Committee on 21 Nov 2012.
MEETINGS
There were 6 Management Committee meetings and 3 Board of Trustees meetings
between January 2012 and December 2012. Management Committee members’
attendance at these meetings consist of the following:
January 2012 – April 2012
(2MC meetings)
Mr. William Jansen (2), Mr. Benett Theseira (2), Mr. Jason Dendroff (0), Ms. Lynn
Desker (2), Mr. Burton Westerhout (1), Ms. Carla Barker (1), Mr. Christian Eber (2),
Ms. Francesca Eber (2), Mr. Geoffrey da Silva (1), Mr. Vincent Schoon (2),
Mrs. Yvonne Pereira (2).
EA President, Benett Theseira presented Minister S Iswaran a token of
appreciation.
(2 BOT meetings)
Mr. William Jansen (2), Mr. Benett Theseira (1), Mr. Jason Dendroff (0), Ms. Lynn
Desker (1), Mr. Burton Westerhout (2), Ms. Carla Barker (0), Mr. Christian Eber (1),
Ms. Francesca Eber (2), Mr. Geoffrey da Silva (2), Mr. Vincent Schoon (2),
Mrs. Yvonne Pereira (2).
May 2012 – December 2012
(4 MC meetings)
Mr. Benett Theseira (4), Ms. Carla Barker (4), Mr. Paul Leong (4), Mr. Christian Eber
(4), Ms. Francesca Eber (4), Mr. Geoffrey da Silva (4), Mr. Vincent Schoon (4),
Mrs. Yvonne Pereira (4), Mr. Graham Gerard Ong-Webb (4), Ms Michelle Ayn
Tessensohn (4), Ms. Angelina Fernandez (3).
(1 BOT meetings)
Mr. Benett Theseira (1), Ms. Carla Barker (1), Mr. Paul Leong (1), Mr. Christian
Eber (1), Ms. Francesca Eber (1), Mr. Geoffrey da Silva (1), Mr. Vincent Schoon (1),
Mrs. Yvonne Pereira (1), Mr. Graham Gerard Ong-Webb (1),
Ms Michelle Ayn Tessensohn (1), Ms. Angelina Fernandez (1).
*Ms. Angelina Fernandez was co-opted as an MC member on 15 May 2012.
05
Honorary Secretary’s Report (cont’d)
IPC STATUS
The Association, being accorded Institute of Public Character (IPC) status and
being one of the Self-Help Groups working for public benefit, has emphasized
transparency and good corporate governance. This is an increasingly important
criterion for any potential donor wishing to donate to the Association.
The Association’s IPC status was renewed for the period of 18 May 2010 to 17 May
2015.
REVIEW OF CONSTITUTION
EA President, Benett Theseira presented His Excellency, President Tony Tan a gift.
A review of the Association’s Constitution and Bye-Laws was initiated in 2009 and
presented during the AGM in April 2012. Changes that were passed: the update of
current legal requirements in audit of accounts; the inclusion of new rule: Cessation
of Charity Status, the inclusion of an additional Patron who may not be a Eurasian.
MCYS’ Charity Unit and the Registrar of Societies (ROS) approved the proposed
amendments as of July 2012.
IPC CODE OF GOVERNANCE
The IPC portal was updated in March 2010 in accordance with the requirements of
MCYS.
HR POLICIES
As of 31 December 2010, the Association has implemented a set of new HR
Policies which were aligned with that of NCSS.
AUDITOR
Foo Kon Tan Grant Thornton is the appointed auditor for the Association.
SECRETARIAT
As of 31 December 2012, the Secretariat Team consisted of the following:
POST
NAME
General Manager
Mr. Lester Low
Assistant Manager (Education/
Heritage)
Ms. Jacqueline Peeris
Executive Secretary
Ms. Cecilia Sim
Operations/ Events Executive
Mr. Daniel Chong
Accountant
Ms. Bernadette Soh
Family Support Services Case
Work Executive
Mr. Jagannathan Ramakrishnan
Events Executive
Ms. Bridget Valeria Basnayake
Corporate Communications
Executive
Ms. Irfa Tukiman
Accounts Assistant
Mr. Albert Pok
Ms. Jacqueline Peeris was promoted from Education and Heritage Executive to
Assistant Manager in July 2012.
06
MEMBERSHIP
DESCRIPTION
As of Year Ending
2011
New Members in
2012
As of Year Ending
2012
Life Members
1,962
20
1982
Ordinary Members
329
0
329
Associate Members
260
15
275
Associate Ordinary
Members
80
0
80
Junior Members
Grand Total
484
9
493
3,115
44
3159
The numbers as of Year Ending 2012 reflect the net membership, after taking into
account the members who have passed on, or withdrawn their membership.
EA MANAGEMENT COMMITTEE MEMBERS ON NON-EA COMMITTEES
President Tony Tan on a tour at the Eurasian Heritage Centre
A number of EA Management Committee members sit on various working
committees on racial and religious affairs, Community Development Councils, local
ComCare networks and other community groups.
MEETINGS WITH VIPs
In 2012, the Management Committee met with a number of VIPs and distinguished
guests.
Date
Visitor(s)
Purpose of Visit
11 February 2012
MP Charles Chong
Guest-of-Honour for the opening of EA’s Portuguese exhibition
23 March 2012
Mr. SR Nathan
Guest-of-Honour at the Eurasian Reunion 2012 opening ceremony and for the official
opening of the new Eurasian Heritage Centre
Mr. George Yeo
Special guest at the Eurasian Reunion 2012
Minister S Iswaran
Guest-of-Honour at the Eurasian Reunion 2012 Gala dinner and to formally announce
his newly appointed role as Minister representing the Eurasians in Cabinet
Speaker of the Parliament of
Singapore and Member of
Parliament Michael Palmer
The keynote Speaker for the Eurasian Reunion 2012 ‘Eurasians in the 21st Century’
Conference
MP Christopher de Souza
The session Chair for ‘The Community Self-Help Model’ topic in the Eurasian Reunion
2012 Conference
4 July 2012
Minister S Iswaran
To welcome the new Minister representing the Eurasians in Cabinet to the Eurasian
Community House
17 August 2012
MP Charles Chong
Formal visit to the Eurasian Community House
Mr. Chad Beins, President of
AEAWA
Mr. Michael Koh, CEO of
National Heritage Board (NHB)
Mr. Michael Palmer
Guest-of-Honour at Quentin’s book launch and fundraiser event
Mr. SR Nathan
To formally congratulate Mr. Quentin Pereira for his book and also special guest at the
book launch and fundraiser event
Minister S Iswaran
The officiated ceremony of EA’s new patrons, Mr. SR Nathan and Mr. George Yeo
24 March 2012
25 September 2012
17 October 2011
Mr. Michael Palmer
Mr. Christopher de Souza
Mr. SR Nathan
Mr. George Yeo
22 November 2012
His Excellency President Tony Tan
Informal dinner at the Eurasian Community House
07
MISCELLANEOUS
Organizational Structure
In compliance with the IPC Code of Governance, the Association has maintained
its two Mandatory Committees, Audit and Fund-raising. The Legal Panel remains to
provide advice to the Management Committee on all legal matters.
Books
A biography about the late E.W. Barker is currently in progress. Susan Sim has been
selected as the author of the biography and an official agreement was signed in
October 2011. The biography is expected to be completed in 2013.
President Tony Tan looking at the Eurasian Heritage Centre exhibits
External Courses
The Management Committee and EA staff have been active in attending courses
organized by the National Council of Social Services (NCSS) under its training arm,
the Social Service Training Institute (SSTI). This enables them to execute their roles
and responsibilities in the context of a non-profit organisation more effectively.
Some courses attended by the Management Committee and staff members are as
follows:
• How Social Capital Drives profits, growth & sustainability
• Budgeting for Charities
• Understanding the Regulations and Code of Governance for Charities & IPCs
• ICPAS Charities Accounting Standard Seminar
• Mental Illness & Recovery
• Internal Controls (I): An Introduction to its Guidelines & Applications
• Budgeting for Charities
• Powering the Innovation Generation
• Introductions to media relations: A strategic Communications
• NUS/Conference on Integration
Looking Ahead
The year 2013 will be another exciting year for all of us here at the EA. We plan
to continue building on our participation of 2013 in national community events,
bringing Eurasian culture and heritage to Singaporeans and raising awareness of
Eurasians in Singapore.
Ms. Francesca Eber shaking hands with Minister S Iswaran, welcoming him to the
Eurasian Community House
Another focus is to kick start more programmes and activities for the youths and
actively work to empower youths in order for them to gain valuable opportunities
and skills. We also hope to promote the development of youth leadership
particularly in the Eurasian community of Singapore.
In terms of sports, we will continue to strive for sporting excellence and in
particular, our EA Soccer team. We hope to look forward to the growth and
transformation of our EA Soccer team and set our sights on competitions and
categories.
08
minutes
of agm 2012
Minutes of the Annual General Meeting (AGM) of the Eurasian
Association held on 20 April 2012, 7.30pm at the Eurasian
Community House
The President of the Eurasian Association welcomed everyone and called the AGM to order at 7.30pm, announcing that there was a quorum of more
than 50 members present. The meeting proceeded under Rule 30 of the EA’s rules and bye-laws.
Item 2.1 President’s Address
President William Jansen thanked all those present for their attendance and said that it had been a wonderful two years. Mr Jansen pointed out that
the events in 2011 and 2012 can be found in his message in the Annual Report, and highlighted the success of the recent Eurasian Reunion 2012
event and that the Malaysian EAs wanted to hold a similar Reunion event and rotate it among the Malaysian states.
He reported that the Association’s financial position is in a good shape with a surplus of over $210,000. He went on to thank former President
SR Nathan for his securing financial assistance for EA’s Education and Welfare programmes as well as for the Reunion. He thanked former Foreign
Minister George Yeo for his help as the Minister Representing Eurasians in Cabinet for many years.
Last of all, Mr Jansen thanked all volunteers, trustees, MC members, advisory panel members and the Secretariat for their hard work.
Item 2.2 To confirm the Minutes of the Annual General Meeting held on 26 April 2011
The minutes of 2011’s AGM were confirmed with no comments or amendments.
Proposer: Victor Olsen.
Seconder: Edmund Rodrigues.
Item 2.3 Matters arising from the Minutes of the Annual General Meeting held on 26 April 2011
William Jansen announced that the Registrar of Societies and the Commissioner of Charities have given their approval to the proposed changes to
the EA Constitution resulting from 2010’s Annual General Meeting. The revised EA Constitution booklet was reprinted and distributed to attendees
of the 2012 Annual General Meeting.
Victor Olsen asked if the Management Committee had submitted their reply to MCYS of how the EA uses its funds and how it plans to use its
funds in the next 5 years. Benett Theseira replied that they had a discussion with MCYS and the feedback was that the Association needs to have
representation in Cabinet in order to push this proposal through. Benett Theseira said now that the EA has Minister Iswaran representing the
community in Cabinet, the Committee will proceed to do the follow-up with MCYS with his assistance.
Maureen Westerhout asked the Management Committee if there were any updates and plans in organizing further Sunday lunches for the
community. She noted that the Sunday lunches were a good social event for Eurasians to come together. Yvonne Pereira replied that due to lack of
volunteers, car-park space and expenses, EA could not afford to hold the Sunday lunches monthly. Yvonne also noted that Quentin’s had its own set
of events during the weekends and had stopped these lunches due to poor turnout. Yvonne suggested that in time, when there are more volunteers,
perhaps the EA could organise the Sunday lunches more frequently. Benett Theseira agreed with Yvonne that there is a need for more volunteers as it
is quite taxing for the Social Circle Committee alone to organize these events at such regular intervals. Benett suggested that the Sunday lunches be
organized bi-monthly and that the Committee can try rotating the organizing of these lunches among the different sub-committees such as Youth,
Sports, etc.
Item 2.4 To receive the Annual Report and Audited Financial Statements for the year ending 31 December 2011
pursuant to Clause 25(a) of the rules of The Eurasian Association, Singapore and Clause 23.2(b)(iv) of the AGM ByeLaws.
Honorary Treasurer Lynn Desker summarized the Association’s income and expenditure for the year ending 31 December 2011 for all the Association’s
sub-committees, working groups, governance and areas of administration. She noted that in 2011, there had been a great success with fundraising
and with the added government grants, so that the Association had achieved an overall surplus of $210,979. She mentioned that the Board of
Trustees and the Management Committee had recommended a reserve policy of 3 to 1 as she stressed that moving forward, there is a need to put
aside more funds to increase EA’s reserves ratio. Lynn Desker commended the Association for their good work in keeping EA’s expenses reasonable,
and also thanked all the major donors in their giving to the EA.
Benett Theseira informed the meeting that the Committee had intended that a sinking fund for the ECH be put to place and that the Committee had
engaged a consultant for a study, as advised by the auditors, to determine the appropriate amount to be set aside annually into the sinking fund.
Mr. Theseira highlighted that a portion of the reserves from 2011 would be reallocated for this purpose to ensure that the Association has sufficient
funds in place to deal with any major expenditure and maintenance works in the future.
The audited financial statements were adopted with no further questions.
Proposer: Colin Meyer.
Seconder: Anthony Pereira.
09
minutes of agm 2012 (cont’d)
Item 2.5 To elect Office Bearers and Members of the Management Committee
The nominations were closed on Thursday, 5 April 2012 at 5pm and the sealed envelopes for nominations were opened by Mr. William Jansen and
Mr. Lester Low at 7pm on the same day. The members had been notified of the nomination results by post. The nominees were:
POST
NOMINEE
PROPOSER
SECONDER
President
Benett Theseira
Timothy de Souza
William Jansen
1st Vice-President
Vincent Schoon
William Jansen
Benett Theseira
2nd Vice President
Yvonne Pereira
William Jansen
Benett Theseira
Hon Secretary
Carla Barker
Benett Theseira
Vincent Schoon
Hon Treasurer
Paul Leong
Benett Theseira
Dawn Westerhout
Committee Member
Geoffrey da Silva
William Jansen
Vincent Schoon
Committee Member
Francesca Eber
Gerald Minjoot
Benett Theseira
Committee Member
Christian Eber
Benett Theseira
Yvonne Pereira
Committee Member
Graham Ong-Webb
Benett Theseira
Vincent Schoon
Committee Member
Michelle Ayn Tessensohn
Francesca Eber
Vincent Schoon
item 2.6 to appoint the association’s auditors for the ensuing year
Foo Kon Tan Grant Thornton was reappointed as the Association’s Auditors for the Financial Year 2012. The Management Committee has found
them suitable, hardworking and committed to improving the Association’s financial governance.
Proposer: Michelle Tessensohn.
Seconder: Christina Theseira.
Item 2.7 To consider and approve the following Resolutions which have been submitted (Rule 32, 36A and 38)
Chairperson of the Legal Advisory Panel, Martin Marini stated that there were 3 Resolutions, 2 of which were changes required by the Commissioner
of Charities as well as legislative updates. The key Resolutions explained by Mr. Marini were:
1) Rule 32, which updates the current legal requirements by removing the obsolete requirement to obtain approval from the Comptroller of Income
Tax, as the COC is the coordinator for the necessary approvals. The amendment would read, “The Accounts shall be audited by a certified public
accountant which shall be appointed at each Annual General Meeting.”
2) Insertion of a new Rule 36A, only applies to the Association when it ceases to be a registered charity under the Charities Act and which relate to
what happens to assets remaining at the hands of the liquidator upon dissolution of the Association.
The new rule would read, “If the Association ceases to be a registered charity under the Charities Act, and: (a) If the Association shall continue
to lawfully operate as a registered society but without registration as a charity, the assets remaining in the hands of Association; or (b) If the
Association is dissolved, the assets remaining in the hands of the Liquidator after discharge of liabilities; shall be given to the Government of
Singapore or such other organisations with similar objects which are approved institutions of a public character registered under the Charities Act
as the Members shall decide.”
3) Rule 38, which seeks to allow the appointment of more than one Patron, a provision for one or more prominent Singaporeans to become
Patron(s). The amendment would read, “The Committee shall be empowered to appoint for life or such term as in its discretion shall be
appropriate any one or more prominent Singaporean(s) to be a Patron or Patrons (as the case may be) of the Association.”
The Resolutions with respect to Rules 32 and Rule 36A were approved by members without objection.
The Resolution to amend Rule 38 engendered discussions as some members, voiced concern from the floor that the amendment allowed for a nonEurasian Patron.
The resolution went to a vote via a show of hands, with 55 in favour of passing the amendment to Rule 38 and 4 against. As the majority of
members present and in favour constituted more than two-thirds of the vote, the Resolution was therefore adopted.
10
minutes of agm 2012 (cont’d)
Item 3. To discuss any other matters arising in accordance with the Rules of the Association
Geoff Morris gave a tribute to Burton Westerhout, thanking him for his role and work put into the Eurasian Heritage Galleries and as Chairman for
the Heritage sub-committee.
Edmund Rodrigues thanked William Jansen and the outgoing MC members for their dedication and efforts during their two-year term.
William Jansen presented the new MC members and the new MC members were officially sworn in.
Incoming EA President Benett Theseira delivered an inaugural speech and thanked the Patron, Trustees and outgoing MC, volunteers and the
Secretariat for the continued support. He went on to thank Timothy de Souza for introducing him to EA some 10 years ago and commended him for
his leadership and encouragement over the years as well as nominating him to be President for this term. He also went on to thank William Jansen
for his guidance and contributions during his term as President in the EA and noted that it has been a memorable 2 years for him and the committee.
Benett Theseira said that the new Management Committee will focus on strengthening engagement with and among the Eurasian community
to build greater understanding and stronger ties. He stressed the importance of getting more youths, volunteers and the new Eurasians to be
more active in the Association so as to develop potential future leaders and as a way to broaden and grow as a community. He also mentioned
the Association should engage more with the various government bodies and organisations so that the Association will be recognised and remain
relevant to the wider community.
There being no further matters, the President, Mr. Benett Theseira, thanked everyone for their attendance and called for the meeting to be
adjourned.
The meeting was closed, proposed by Eddie Tessensohn and seconded by Donald Wyatt.
11
education report
Committee Members
Mr. Geoffrey da Silva (Chairperson), Mr. Edmund Rodrigues, Mr. Derek Scully, Mr. Joseph Peterson, Dr. Alexius Pereira,
Assisted by Ms. Jacqueline Peeris from the Secretariat
EA EDUCATION SCHEMES 2012
Temasek Cares Education Bursary
28 Primary school students received the Temasek Cares Education Bursary (TCEB),
covering the costs of their school fees, uniforms, transport and meals with a
quantum cap of $1000 per student per academic year.
Coral De Cruz Memorial Fund
6 Secondary school students received this fund, covering the costs of their school
fees, uniforms, books and transport, with a quantum cap of $1200 per student per
academic year.
Buddhist Lodge Primary school recipients
Merit Bursary Award (For ITE & Polytechnic)
This award has been offered since 2009, with the aim of defraying the costs of
higher education, covering the recipient for the duration of his/her studies at ITE/
Polytechnic. The quantum cap is $3,500 per year for an ITE student and $5,500
per year for a Polytechnic student. Each year, an average of 3 ITE and 2 Polytechnic
students are selected through a process of deliberation and interviews conducted
by the Education Committee. This award, as the name suggests, is based on
academic merit and the household income is also considered.
EA University Scholarship (for a Polytechnic Graduate),
Oscar George Da Silva University Scholarship (for a Junior College
Graduate)
The EA University Scholarship was inaugurated in 2011. It was initially for a
Polytechnic graduate. In 2012, with the generous donation from the late Mr.
Lawrence da Silva, the ‘Oscar George da Silva University Scholarship’ was
inaugurated, for a Junior College graduate pursuing higher education at a local
university. The quantum cap is $10,000 per academic year for a 3-year course.
EA EDUCATION EVENTS 2012
Tertiary students with Jacqueline Peeris from the EA Secretariat
Primary school students
Singapore Buddhist Lodge Bursary Awards
Each year, the Eurasian Association is one of the organizations which the Singapore
Buddhist Lodge Education Foundation generously offers bursaries to, for our
Primary, Secondary and Tertiary students.
Primary
Secondary
Tertiary
14th April 2012
19th May 2012
27th October 2012
Hans Gerhard Van Huizen
Mohd Feroz Bin Baseer
Ahamed
Charlton Loy Hao Yin
Michael Ryan Andrew
Apps Esmeralda Crisanta
Farhanah Bte Mohd Ali
Krusemann Rory Michael
Pereira Kevin Joshua Ypil
Rachel Isabelle
Issabel Heather Andrew
Azura McIlwraith
Claudia Lim Yi Xuan
Luke Anthony Paglar
Temasek Cares Education Bursary & Coral de Cruz Memorial Fund
In a ceremony on 26th May 2012, from 2.00-3.30pm, at the Eurasian Association
multi-purpose hall, 28 Primary recipients of the Temasek Cares Education Bursary
and 6 Secondary recipients of the Coral de Cruz Memorial Fund received their
bursary for academic year 2012.
Students had a brief tour with a quiz of the 3 galleries of the Eurasian Heritage
Centre, where they learnt more about their Eurasian roots and culture, the war
years and the Eurasians who contributed to society, making their mark in history.
12
education Report (cont’d)
Self-Help Groups Joint Tuition Awards
The Joint Tuition Awards [JTA] is an annual ceremony where students, who have
received tuition in various programmes including mainly the Collaborative Tuition
Programme [CTP] run by the Self-Help Groups [SHGs], are recognized for doing
well in the National examinations including PSLE, N-levels and O-levels. When the
CTP centres were first launched in 2002, there were only 11 tuition centres. Today,
there are 65 centres island-wide, with an enrolment of about 8,715 students from
the four ethnic groups. The CTP centres make tuition affordable and convenient
for students.
The JTA Ceremony was held on 25th August 2012, from 11.00am to 12.30pm, at
the Anglo-Chinese Junior College Hall where 9 of our Eurasian students received
awards for their academic achievement, out of a total of 426 recipients, from the
Guest-of-Honour Mdm Halimah Yacob, Minister of State, Ministry of Community,
Youth and Sports.
EA President Benett Theseira and Vice President Vincent Schoon (second row in
the middle) with EA recipients and their parents
EA Recipients:
PSLE
‘N’-Levels
‘O’-Levels
Emmanuel Gerard Francisco
Santa Maria Samantha
Bernadette
Oliveiro Brandon Ryan
Nurfaizah Binte Muhd
Faizuwan
Stefan Joseph Santa
Maria
Melanie Minjoot
Hogan Amanda Gayle
Issabel Heather Andrew
Krusemann Rolf Gregory
Eurasian Community Fund (ECF) Education Awards
The Eurasian Community Fund (ECF) Education Awards ceremony, inaugurated in
1996, showcases the academic achievement of Eurasian students. It signals to the
Eurasian Community the importance of achieving academic excellence and the
Eurasian Association’s support in encouraging more students to further excel in
their studies.
Left: Faustina Anne Francisco presenting the token of appreciation to the
Guest-of-Honour, Minister S Iswaran
Right: The St. Patrick’s School Dance Ensemble giving a vibrant performance
There are various categories of awards including the Bursary Award (with an income
criteria), Merit Award (for students of all levels who do well in their examinations),
Excellence Award (for students who emerged in the top 25% of their cohort for
the National Examinations) and Distinction Award (for the top students in the
National Examinations [PSLE, ‘N’, ‘O’ and ‘A’ Level] and outstanding students in
ITE, Polytechnic and University). Applicants must be Singapore citizens or Singapore
Permanent Residents, with at least one Eurasian parent. They must be full-time
students in the formal Singapore education system at primary, secondary, postsecondary (ITE/JC) and tertiary (NAFA/La Salle/polytechnic/university) levels.
The ECF Education Award ceremony was held on 1st September 2012, from 2.003.30pm, at St. Patrick’s School Hall, with Minister S. Iswaran gracing the occasion
as Guest-of-Honour. In his speech, he congratulated the 212 recipients and
encouraged them to continue studying hard with the support from their families
and dedicated teachers.
13
education Report (cont’d)
Recipients of the distinction award:
Fatimah Ili Bte Mohd Johari, recipient of the Oscar George da Silva University
Scholarship sharing about her Science course at NUS
Distinction Award
Name of Student
Top Eurasian PSLE Student 2011
Bjorn Kaijun Betzler
Top Eurasian Normal Academic ‘NA’ Level
Student 2011
Samantha Ann Phillips
Top Eurasian Normal Technical ‘NT’ Level
Student 2011
Benedict Patrick Clyde
Top Eurasian ‘O’ Level Student 2011
Keren Ann Henry
Top Eurasian ‘A’ Level Student 2011
Jordan Scott Miller
Outstanding Eurasian ITE Student 2011
Siti Nafira Binte Mohamed Noor
Outstanding Eurasian Polytechnic Student
2011
Tricia Marjorie Fernandez
Outstanding Eurasian Sports Student 2011
Brittanie Rei Bartlett
Meritorious Eurasian Sports Student 2011
Claire Blaise Noronha
Outstanding Eurasian University Student 2011
Deborah Hendricks
8th Opportunity Fund Disbursement Presentation
The Opportunity Fund was given by then Ministry of Community Development
Youth and Sports (MCYS) under the Progress Package of Budget 2006, whereby
the government allocated matching grants to the Self-Help Groups. As the name
suggested, this fund was to be utilized to assist students from low-income families
by disbursing vouchers for them to purchase educational materials to prepare for
school the next year.
University Scholarship recipients with Mr. Geoffrey da Silva (centre), Mr. Derek
Scully (left) and Mr. Joseph Peterson (right) from the EA Education Committee
The ceremony was held on 10th November 2012, from 2.00-3.30pm, at the
Eurasian Association multi-purpose hall, where 110 students from the Primary,
Secondary and Tertiary levels received Popular and Bata vouchers. Recipients of
the EA University Scholarship and the Oscar George da Silva University Scholarship
spoke about their course of study and the career prospects, for the younger
students to have a better idea of what is available out there in the working world.
K2-One Bridging Programme
Organised by the four Self-Help Groups with support from the Ministry of
Education (MOE), the K2-One Bridging Programme is to help students who have
not attended kindergarten to prepare for Primary One.
2nd Vice President Mrs. Yvonne Pereira (in green attire) with the other Self-Help
Groups CEOs/representatives, singing the finale song with the children.
14
In the 9-week programme consisting of phase one with six weekly sessions and
phase two comprising of three weeks of daily sessions, children learned the
essential skills of literacy and numeracy through play and fun activities, conducted
by experienced pre-school teachers. The Graduation Day was held on 7th
December at the Singapore Repertory Theatre where the children and their families
got to watch the play ‘Fantastic Mr. Fox’, happily singing along to the songs which
were taught in the sessions. Upon receiving their graduation goodie-bag and
certificate, children went home with a memorable experience, instilled with the
excitement to learn.
family support
services
Committee Members
Ms. Francesca Eber; Mrs. Christine Pereira; Mr. Edmund Rodrigues; Mr. Sam Wadia; Mr. Dennis Tay; Ms. Judy Perry; KB; Ms. Pamela Menon;
Mr. Quentin Pereira; Ms. Rosalind Soo; Ms. Yean Carvalho; Mr. Paul Rodrigues; Ms. Patricia Rodrigues; Mr. Peter Rodrigues; Mr. Phillip
D’Cotta; Ms. Rebecca Rencz; Ms. Michelle Tessensohn
Volunteers: 20 Friends of FSS and Students of the International School of Singapore
Administration: The present Committee has the administrative support of Mr. J.
Ramakrishnan. Mr. Daniel Chong another EA’s Administrative staff assists FSS
when necessary.
In 2012, FSS was assisting on average of 75 households monthly, consisting of
133 individuals. The assistant schemes included Financial Assistance, NTUC Food
Vouchers and Food Rations, the Emergency Assistance Fund and the Beyond
Financial Assistance Fund. Help Clinics are being held weekly on Wednesdays.
The monthly Food rations continued to be delivered by Volunteers and the EA
van. The FSS ration run is supported by two part-time persons, who assist with the
packing and delivery. The FSS Review Committee meets on the first Tuesday of the
month to review and accept the recommendations of the FSS team.
FSS clients and friends at the FSS Christmas lunch party
We were also assisted through the generous support of Mr. SR Nathan,
Mr. Lawrence De Silva, Mr Edward D’Silva and many others.
PROJECT SPARK (SUCCESSFUL PARENTS AND RESLIENT KIDS)
Project SPARK is a partnership between Temasek Cares and the four self help
groups to assist single parents to become independent and effective parents while
helping their children to become more resilient, well adjusted and successful. The
project is into its third year.
FRIENDS OF FSS
The Sub-Committee will be embarking on a project to have its volunteers efficiently
trained so that quality service can be given to its recipients.
FSS CHRISTMAS PARTY
Elderly Eurasians at Project Dignity Kitchen
The annual FSS Christmas Party was held on 2 December 2012 for 100 FSS Clients
supported by many Friends of FSS, 25 Children from the International School
Singapore, MC Members and Secretariat Staff.
This year funds were raised to support the expenses of the event.
CHRISTMAS HAMPERS
84 Clients received their Christmas Hampers valued at $100 each in December. The
carton boxes for packing the hamper items were donated by DHL.
FSS also received donations towards the Christmas Party and Christmas Hampers.
TEA WITH NEIGHBOURS (TWN)
Eurasians having a ball of time during FSS tea and social gathering
FSS initiated TWN as an opportunity for members our clients to help forge an
integrated community with our neighborhood communities. Essentially we
involved the SE-CDC, Mountbatten Grassroots’ Leaders, Recipients of FSS and EA
Members with 10 persons from each group over 60 years. The First TWN was held
on Sunday, 26 February 2013 commencing with a tour of our Culture & Heritage
Centre followed by tea and story-telling by our Trustee Mr. Joe Conceicao and
for the second instance on Sunday, 24 September 2013 we had Members of our
Toastmasters Club to share their stories with some laughing yoga exercises.
15
community developmentyouth and sports
youth
Committee Members
Mr. Graham Gerard Ong-Webb (Chairperson), Ms. Michelle Ayn Tessensohn, Ms. Guenevere Cordeiro, Mr. Leon Chester Stewart,
Ms. Sharon Elizabeth Estrop-Pereira, Ms. Deborah Hendricks
A rejuvenated Youth sub-committee juggled a busy year in 2012.
Young Professional Eurasians gathering
EA Youth organised an informal get-together for young Eurasian professionals
on weekday evenings to network and develop community ties and also to foster
Eurasians’ future leaders. The gathering saw more than 50 youngsters and
professionals getting involved and making themselves heard and more visible.
The gatherings are an ongoing activity which will continue in 2013.
Launch of EA Young Professional Eurasians Group on Facebook
Young Eurasians at the Singapore Recreation Club
Understanding that youth today are increasingly spending more time in the
virtual world and on popular social-networking sites, EA Youth (YPEs) launched a
group portal site on Facebook to reach out and connect to Eurasian youth. This
portal hopes to serve as a communication and information channel between the
Association and the youth of the community.
Looking Forward
EA Youth committee will continue to reach out to young Eurasians through various
platforms and social media to encourage greater interaction, forging links with
youth committee of other SHGs to explore collaborative initiatives and to transform
social gatherings into a seed bed for identifying other community leaders and to
mobilize volunteers.
The Youth committee is organising The Eurasian Singapore Conversation on the 23
February 2013 and also a Eurasian Youth Symposium in the later part of 2013.
EA soccer
Coach: Mr. Clifton Dragon
Chairperson: Mr. Vincent Schoon
Members: 15 members and counting
Events and Activities:
Having a ball: the EA Soccer team enjoy their first training session
Finally, after five years, we have been able to get this activity going. It’s still in its
early days; however we have managed to gather 15 youth ranging in age from
12-17 to volunteer their time. Practices under the guidance of coach Clifton Dragon
are held on Saturdays at SAFRA Tampines from 3pm to 5pm. We are negotiating
with N Parks for a more permanent facility at Opera Estate which will be more
logistically conducive for our youth. Our soccer team is much more prominent.
Looking Ahead
EA Soccer will be holding its soccer training every Saturday starting from
16 February. EA Soccer hopes to compete regularly for local and regional
competitions and championships and to be the premier youth sport in EA
and the top topic for sports enthusiasts.
16
community developmentyouth and sports (cont’d)
dragonboat
Sub Committee:
Coaches: Mr. Calvin Christian, Mr. Clifford Le Caine, Captain: Ms. Bianca Hoeden, Vice-Captains: Ms. Michelle Tang, Mr. Ng Yong Hua
Members: Membership peaked at 48 and now stands at 39 due to many having National Service obligations and overseas studies commitments.
However, overall, there was an increase of 4 members which is an 11% increase.
EVENT AND ACTIVITIES
Weekly Training:
The EA Dragons train weekly on Sunday afternoons from 2.30pm to 5pm. Our
training sessions have been extended slightly to incorporate circuit training before
water training. We also attended and participated in the following events:1. PA Paddle Championships, 26-27 May 2012
We participated in the 10-crew Open Category and the 20-crew Mixed Category,
which was a new category for us. Our objective was to provide our new recruits
with competition exposure. We are proud that the event strengthened our team
spirit and gave us renewed focus for the next competition in November.
2. Singapore River Regatta, 3-4 November 2012
We were unable to compete in our usual race category, as it was withdrawn from
the Regatta competition this year. However, to give our new team more race
exposure we participated in the 12-crew Open Category for Inter-Business, Houses
and Clubs Category. Despite this being a new one category for us, and competing
in the “Open” category against the best teams, we placed 32nd in 45 teams.
Warming up for the big race!
We also participated in the 22-crew Open Mixed Category, and placed 29th in
43 teams.
The lesson drawn from this is that with 50-60% new rowers, we need to train
for at least 2 – 3 more years before achieving targets of the previous ‘pioneer’
team. We are also looking to enter more competitions for race exposure, and
with continued training, we will see improvements in the future.
3. Team Bonding Trip to Pengarang - 23-24 June 2012
Recognizing a need to build a higher level of team synergy, we took the team
and families for a 2 day-1 night retreat to Pengarang where we participated in
team-building games.
EA Dragons smiling to the camera
4. X240 Charity Paddle – 14 – 15 January 2012
This was a fund-raiser for the ARC Children’s Centre (for children with terminal
illnesses). A sum of $39, 000 was raised by three paddlers, two of which are
members of the Eurasian Association Dragonboat Team.
5. Christmas Celebrations Decorations – 17 November 2012
The team actively assisted in the Christmas decoration of the Multi-Purpose Hall,
and running of the annual EA Children’s Christmas Party.
6. Children’s Christmas Party – 15 December 2012
The team organized and hosted a “Jingle All the Way!” obstacle course as part
of the pre-party activities for the Children’s Christmas Party at the EA House.
7. Annual EA Dragons Christmas Gathering – 18 December 2012
Attended by approximately 30 rowers, the Captain addressed team with the
breakdown of accomplishments in 2012 and the projection and targets for 2013.
To encourage friendly competition to better ourselves, four awards were handed
out. The coaches selected the Most Improved Male and Female Rowers: Ryan Teo
and Antonia Rodrigues respectively. The team then voted the Most Inspiring Male
and Female Rowers: Mr. Kyle Tan and Ms. Bernice Wong respectively.
EA Dragons in action
17
community developmentheritage committee
Committee Members
Mr. Gerry de Silva (Chairman-Mentor), Mr. Christian Eber (Co-Chairman)
Ms. Angela Phipps, Mr. Cedric Pereira, Ms. Charlotte Collars, Ms. Christina Theseira, Ms. Euylth Fernandez, Mr. Geoffrey Morris,
Ms. Geraldene Lowe, Ms. Gerardine Donough-Tan, Mr. Graham Ong-Webb, Ms. Laraine Parry, Ms. Lucille Marcus, Mr. Percival Shepherdson,
Mr. Peter Rodrigues, Mr. Quentin Pereira, Mr. Robert Conceicao, Assisted by Ms. Jacqueline Peeris from the Secretariat
Eurasian Heritage Centre
On 11th February 2012, a new gallery named “Roots Of Our Community” was set
up to showcase the history of the Portuguese, Dutch and British and their influence
on Eurasians in Singapore. This project was a joint collaboration between the
National Heritage Board (NHB) and the Eurasian Association (EA), as a follow-up to
commemorating the 500 years of the Portuguese presence in Malacca since 1511.
The gallery was officially opened by MP Charles Chong.
MP Charles Chong with EA President William Jansen
The newly refurbished Heritage galleries were re-launched by then President
S R Nathan at the Eurasian Reunion major event on 23rd to 24th March which
saw Eurasians from Malacca, Penang, Selangor, New Zealand and England, all
coming together to celebrate the culture of Eurasians and the unique blend of
East and West. Over the next two days, there was a visit to the Asian Civilizations
Museum, a Conference on ‘Eurasians in the 21st Century’ and a Gala dinner at the
Singapore Recreation Club (SRC).
The Eurasian experience
The Eurasian Experience is a collaboration between the EA and Quentin’s Eurasian
Restaurant, in organizing tours or learning journeys for visitors. The programme
can be customized to include various elements such as a tour of the three Heritage
galleries, learning traditional Portuguese Eurasian folk dance the Jinkli Nona,
sampling sugee cake, a traditional Eurasian pastry, a cooking demonstration and
even a full lunch with a variety of Eurasian cuisine. The number of visitors in 2012
was 2254.
Keeping our Eurasian Heritage Alive
Eurasian Station @ Singapore Discovery Centre (Jul-Aug 2012)
“Eurasians In The Heartlands” was initiated in 2010, and each year the Eurasian
Association sets up Eurasian Heritage booths and/or conducts Heritage sessions at
various events throughout the year, especially during the Racial Harmony month
in July or in April. This is when some schools celebrate their national education
carnivals, to share the Eurasian culture with youth from as young as Kindergarten,
to Primary and Secondary schools, and also to organizations and companies.
The EA actively participated in HeritageFest 2012, with a Jinkli Nona performance
at the HeritageFest Opening Ceremony at Novena Square, a Ballroom dancing
performance by kids at Hougang Mall and a Soccer tricks display at Century Square
over the last 2 weekends in July.
The Eurasian Association collaborated with the Singapore Discovery Centre to
organise a Eurasian Station at the Singapore Discovery Centre during the racial
harmony season of July to August. Primary school students got to learn about
Eurasian history and origins through a fun and interactive quiz session, then try on
the Eurasian costume and learn the Jinkli Nona dance.
Eurasian youth perform a skit of a traditional Eurasian wedding at Yew Tee CC
Racial Harmony Exhibition (25 Mar)
18
community developmentperforming arts chapter (pac)
Committee Members
Mr. Vincent Schoon (Chair)
CHINGAY PARADE 2012
The EA took part in its fourth Chingay parade in February 2012. The EA’s
contingent comprised 42 students and one teacher from The International School
of Singapore. Truly a great mix of races as we had students from four corners
of the globe. Students hailed from Ireland, Spain, Germany, China, Korea, USA,
England, Norway, Denmark, Africa and a teacher from Italy. The dance item was
also reflective of our theme, “Circles of Joy”. The challenge this year was all dance
troupes had to negotiate 360 meters of moving water….. Pretty challenging but
fun, as our dancers exclaimed!
The highlight of the evening was having EA selected to be part of the Grand Finale.
We were very fortunate to have the services of two very versatile and creative
choreographers, Jennifer Schoon and her husband Ron Low. Both showed
total commitment and were able to transform 90% of students with no dance
experience into a coordinated and highly energetic troupe!
The EA’s dancers togged out in brightly coloured costumes and wellingtons
Inter-Religious Inter-Racial Concert
This is an event which the Eurasian Association supports whole heartedly.
Organized by the Tai Hwa Kuan Moral society, the aim is to foster Racial and
Religious Harmony amongst the 4 main racial groups and 10 recognized religions
in Singapore. 2012 saw the participation of 10 Eurasians who helped out as ushers
and 5 who were readers of the events pledge. The highlight for the evening was
a performance from EA’s singing family…The Stewarts, comprising Janelle, Oliver,
Alexandra, Julian and Tara. Their 2 songs got the crowd involved and we received
fantastic feedback from the organizers and several VIP guest.
The EA’s dancers performed a contemporary dance called ‘Circles of Joy’
Eurasians waving the Singapore flag at the IRIR Harmony Nite 2012
19
community developmentsocial circle
Sub-Committee
Mrs. Yvonne Pereira – Community Development Chairperson, Ms. Nancy Fobrogo – Social Circle Chairperson,
Mrs. Dorothy Tessensohn – Vice-Chairperson, Mrs. Pamela Menon – Secretary
Members Ms. Gwen Ong, Ms. Emeleen Soh, Ms. Melanie Smith, Ms. Sandra Theseira, Mr. Peter Rodrigues, Ms. Loretta Rodrigues
Ad Hoc Members Mr. Steven Lim, Ms. Zoe Lazaroo, Ms. Suresh Menon, Ms. Philomena Nonis
Events Organised:
1) “Red & White” National Day Celebration Lunch – 26th August 2012:
EA celebrated our 47th National Day on 26th August 2012. It was an afternoon of good food, fun
and enjoyment. The gathering of families and friends from seniors to kids filled Quentin’s Restaurant
to capacity. They were offered a spread of 30 dishes, entertained by Chato & Qamal who provided
music to sing along and dance to and excited by the chance to win prizes at the Card Draw or
Tombola. Good bargains were available at the Cakes n’ Bakes stall.
Guests at the New Year’s Eve Dinner and Dance 2012
The Social Circle took the opportunity to showcase other activities under its purview. READ@EA
launched its Reading Month. The Artsy Craftsy Circle held its debut sale. The crowd left with a sense
of fun and satisfaction.
2) “Oktoberfest” Sunday Lunch – 21st October 2012:
It was an afternoon for the whole family to bond and participate in fun and games besides savouring
some sumptuous German cuisine, and what would “Oktoberfest” be without a beer drinking
contest? Five very sporting ladies and men took to the floor to show how fast they could “down a
mug of beer”.
Kids on the stage at the Children Christmas treat
carnival
The event was attended by 80 odd members with their families and guests, including some guests
from Australia, who braved the heavy rain to make their way down to our ECH. The Australians took
the opportunity to tour our Heritage Corner and Galleries. Thanks to Quentin & Kristine Pereira for
co-sponsoring some prizes.
3) Christmas D&D – 1st December 2012:
Christmas came to the Eurasian Community House on 1st December 2012 with the annual Christmas
Dinner n’ Dance. The ECH was transformed into a Spectacular Christmas Scene with a traditional
Christmas theme of Red & Green hews, Poinsettia and Holly.
Baluteers posing for the camera
About 100 guests attended. A complimentary bottle of wine for every table raised their Christmas
spirit. There was an array of prizes to be won from games and lucky draws. It seemed as if everyone
had put on their dancing shoes as they were soon on the floor kicking up their heels to music spun
by DJ, Bernard Jeremiah.
Peace, Joy and Goodwill reigned by the end of the evening and to the tune of Feliz Navidad everyone
wished each other “MERRY CHRISTMAS AND A HAPPY NEW YEAR”.
4) “Family Christmas Carnival” (FCC) & Children’s Christmas Treat (CCT) – 15th December 2012
The Family Christmas Carnival & Children’s Treat held on 15th December was a multicultural affair as
members and friends from all ethnic groups turned up to enjoy the festivities.
Baluteers enjoying a round of balut
20
A hot favourite were the bargains available on stalls, from edibles such as sugee cakes, fruit cakes,
pang susis, and pickles to gifts such as crocheted items from the in-house Artsy Craftsy stall plus
clothing, table centrepieces, T-shirts with Christmas motifs, and more. Quentin’s restaurant provided
Eurasian culinary treats and there was also halal food for the EA’s Malay friends.
When guests weren’t chancing their luck with the tombola sessions they were up on the floor
boogieing to the sounds of Gerard Danker.
For kids from the four self-help groups, there were games stalls for them to participate in plus
entertainment by ToyBox’s Reuben and Mark, and magic by ‘Mr Handsome’. And, of course, the most
important guest of all made an appearance – Santa himself.
community developmentsocial circle (cont’d)
READ@EA SECTION:
The club which was started in 2010, marked its 2nd Anniversary in September 2012. The group of 10 avid
readers meets on every 2nd Friday monthly at 7pm. They are led by Nancy Fobrogo with Evelyn & Edmund
Rodrigues as facilitators.
The National Library Board, which promotes READ! Singapore, has supported us by providing Reading
and Promotional Material. To sustain Reading at EA, the club has organized Monthly Discussions from the
Short Story collection BRIDGES compiled by NLB.
Reading Month at EA was launched in September with a programme including, a Book Talk by renowned
author Joe Conceicao and the distribution of Short Story booklets at functions. To get children interested
in Reading, we included a collection of three books in the Gift Bags at the Children’s Christmas Treat on
15th December 2012.
Social Circle sub-committee at the Red and White
lunch
The activities at READ@EA began in 2010 with Discussions of Short Stories and Novels, progressed to the
Promotion of Reading at EA and in 2013 we plan to include the Writing of Personal Experiences to be
shared within the group.
ARTSY CRAFTSY SECTION:
The club was started in March 2012 by a group of ladies who wanted to share their specific talents and
accrue new ones. Join them every 2nd Friday monthly at 4pm.
A girl played tangled at the Children Christmas treat
carnival
The group aspires to engage members in Craftwork while fostering the 3 R’s (Reduce, Reuse, Recycle).
Members share their individual skills and creativity as they take turns to facilitate at each session. Their
projects have included Crochet, Glass-painting, Dress-making, Bead-work and, in keeping with our
practice, Scrap-work. Even can tabs have been interlaced with ribbons to form necklaces and bracelets. In
less than a year the Circle has been able to produce articles for sale at EA events.
MAHJONG THERAPY SECTION:
With the aim to encourage lively minds, de-stressing and socializing, this activity was started in June
2012.
The members’ grasp of the game, range from beginner to expert. Teaching and learning take place at
each session which is scheduled for the last Thursday of the month at 2pm. Nancy Fobrogo, Dorothy
Tessensohn and Philomena Nonis are present to coach the learners. No gambling or monetary gains are
involved.
Beautiful ladies at the New Year’s Eve Dinner and
Dance 2012
This activity has been made possible through the contribution of Mahjong Tables and Sets by EA and
friends. Two of the three original students are now able to play independently while the third is making
good progress.
The members of the three sections enjoy good fellowship and we benefit from one another in many
aspects. We look forward to having more people join us.
BALUT SECTION:
Committee:
Convenor
Advisor
: Mr. Peter Rodrigues
: Mrs. Yvonne Pereira
The Section commenced its 1st Round of the In-house Balut Competition on 2nd March 2012. Monthly
sessions saw a regular turnout of 20-odd members, most of whom are seniors.
This “fun dice game” promotes great interaction amongst fellow members of all ages, and it’s a great
tool to keep one’s mind active.
The 8-month long In-house Balut Competition came to an end on 5th October 2012 when the final
round was played to determine the Top Scorers for the year.
21
Based on their 6 Best Scores from 8 Rounds, the following Section Members were the top prize-winners:
2012 In-house Champion: Ms. Rita Ignatius – 3691 points
1st Runner-Up: Mrs. Helen Joseph – 3601 points
2nd Runner-Up: Ms. Philomena Nonis – 3559 points
Other prize winners were:
High Individual Aggregate (Single Game):
1st Place – Ms. Philomena Nonis – 671 points
2nd Place – Ms. Rita Ignatius – 643 points
Guests all smiles for the camera
High Individual Score (Single Game):
1st Place (Tie) – Ms. Rita Ignatius & Mr. Peter Rodrigues – 157 points
2nd Place – Mrs. Yvonne Pereira – 156 points
The Section members would like to extend their sincere appreciation to Mrs. Evelyn Rodrigues and Mr. &
Mrs. Quentin Pereira for their continuous support and annual sponsorship of cash donations and prizes.
Besides the above sponsors, the Section members would also like to gratefully thank Mrs. Sandra Chan,
Mr. & Mrs. Philip Cordeiro for their kind donations as well. Not forgetting our EA Secretariat, especially
Bridget, Daniel, Ram and Bernadette, for taking turns to run the monthly sessions.
Guests having a ball of a time
External Events:
1) SRC/EA “Christmas Light-Up” – 16th November 2012
The objective of this significant annual affair (mooted by Mr. George Yeo), held at the SRC on 16th
November 2012, was to maintain and foster closer ties between the SRC & EA.
Eurasian couple, Geoff and Nanette Moris dancing to
the sounds of DJ Bernard Jeremiah
The 40-odd guests comprising management committee members and members from SRC’s Women’s
Wing and EA’s Social Circle witnessed the lighting up of the Christmas tree by Presidents Dr. Johnny Goh
and Benett Theseira. All present participated in the carolling session led by the Stewart family. Eurasian
Christmas cuisine was the order of day, catered by EA’s in-house chef, Quentin Pereira. The evening
ended with nostalgic memories.
2) Penang Eurasian Association’s “Malaysian Eurasian Games” – 10th & 11th November 2012
A merry band of Singapore Eurasians set out for Penang last November to participate in the first-ever
Malaysian Eurasian Games. Supported by the Penang State Government and hosted by the Penang
Eurasian Association (PEA), the games were held on the grounds of College General in Tanjung Bungah,
Penang from 10-11 November 2012.
Themed ‘Go Forward in Togetherness’, the inaugural games aimed to facilitate bonding among
representatives from the EAs of Malacca, Selangor, Kedah, Sarawak, Perak, Penang and Singapore
through sporting activities.
Led by chef de mission Yvonne Pereira, the 14-strong Singapore contingent consisted of our President,
Benett Theseira and his mother Christina, Nancy Fobrogo, Philip & Joyce Cordeiro, Dorothy, Rosemary &
Eddie Tessensohn, Lawrence Kam, The Ban Khi (Yang), Daniel Chong, Brian Higgs and Sylvie Ta.
Besides achieving its aim of improving ties with friends across the causeway, the Singapore contingent
managed to reel in a decent haul of medals through helping to shore up numbers among the Malaysian
teams which were short of participants for cross country, football, telematch, tug of war and volleyball.
In particular, our Singapore Carroms squad comprising Philip, Eddie, Nancy and Yvonne did us proud by
taking home the gold medal, while the Balut team emerged as second runners-up.
Other than the sporting activities, participants at the games also found time to bond over home-cooked
Eurasian favourites such as Devil’s Curry, as well as a spot of spiritual reflection during an evening mass
at the College chapel. The highlight, though, was an eight-course gala dinner held at the Church of the
Immaculate Conception Hall.
22
At the close of the games – where Penang were crowned overall champions and Malacca took home a
trophy for having the largest contingent, PEA President and games organising chairman Aloysius Gasper
expressed his hope that the inaugural games would set the platform for the event to become a yearly
affair, with different Malaysian states taking turns to play host.
For those of you who are already thinking of taking part in future editions of the Malaysian Eurasian
Games, take note that this year’s competition is slated to take place in Kuala Lumpur in September.
3) NEW YEAR’S EVE D&D – “GLITERRATI – A NIGHT OF GLITZ & GLAM” – 31ST DECEMBER 2012
Organising Committee:
Mrs. Yvonne Pereira – Chairperson
Mr. Vincent Schoon – Vice-Chairman
Ms. Dorothy Tessensohn
Ms. Michelle Tessensohn
Mr. Graham Ong-Webb
Mr. Gerard Danker
Ms. Bridget Valeria Basnayake
Ad Hoc Members:
Mr. Jagannathan Ramakrishnan
Mr. Daniel Chong
Ms. Irfa Tukiman
Ms. Margaret Pereira
Mr. Bernard Jeremiah
Ms. Claudine Rodrigues
Baluteers posing with sponsors, Evelyn Rodrigues and
Kristine Layos
Happy guests at the Red and White lunch.
Dressed in their most glittering & stylish outfits, EA members and friends arrived at the Concorde Hotel
ballroom to usher in 2013 in style.
They enjoyed a sumptuous international buffet and kicked up their heels to the sounds of Gerard Danker
& MSG band, guest perfromers, Romito Mendoza, Robert Fernando, and DJs Bernard Jeremiah & Alan
Oliveiro, spurred on by lively MCs Graham Ong-Webb and Michelle Tessensohn.
A lucky draw produced prizes that included holiday packages to Bangkok, Phuket, Bali and Malacca,
kindly sponsored by Glenn De Souza of Best Western Hotels & Resorts, Robin Tessensohn of Hotelbank
Pte Ltd, Dorothy Tessensohn and Sean Sta of Kerala Resort Homes Sdn Bhd, together with an array of
other attractive prizes sponsored by well-wishers. A bonus prize of a trip to Hong was drawn half an hour
before midnight, sponsored by loyal benefactor Glenn De Souza from Best Western Hotels & Resorts,
who drew the winning ticket.
EA President posing with his son Maxmillan at the
Red and White lunch
As midnight beckoned, Old Father Time (aka Paul Rodrigues) appeared to signal the passing of the old
year, as five young beauties, namely, Danielle, Antonia, Azura, Kimberly & Samantha, counted down the
clock to usher in the New Year.
EA’s 2012 NYE was a night to remember indeed, but it wouldn’t have been possible without the
invaluable involvement of our many generous sponsors, not forgetting the loyal support of each and
every single member of our Eurasian community including their relatives and friends.
On behalf of our EA management committee and our NYE organising committee, we would like to
sincerely and gratefully thank everyone for all your compliments and overwhelming support. And we
certainly look forward to seeing everyone again at our 2013 NYE.
23
community developmenttoastmasters club
Committee Members
Mr. Crispin Rodrigues (President), Mr. Peter Rodrigues (Vice-President, Education), Mr. Adam Abdaeli (Vice-President, Membership),
Mr. Joachim Pereira (Vice-President, Public Relations), Ms. Kay Omar (Secretary), Mr. Gavin Goh (Treasurer), Ms. Yap Shiwen (Sergeant-at-Arms)
EURASIAN ASSOCIATION TOASTMASTERS CLUB
In 2012 the Eurasian Association Toastmasters club attained the President’s
Distinguished Club Award, this award is given to a club that display excellence
in achieving educational awards, as well as grown in membership and whose
Executive Committee has fulfilled its roles according to the requirements by
Toastmasters International, for the award.
On the 18th of February 2012, the club held their 3rd International Speech and Table
Topics Contest where amidst the fierce competition, new club member Karanvir
Sigh, with his mellifluous and resonant voice, emerged as the winner in both the
International Speech and Table Topics categories.
Partying at the EA TM 51st chapter meeting and christmas party
On the 7th of April 2012, the club hosted the Area D2 International Speech and
Table Topics Contest, where Karanvir Singh competed against 4 other clubs and
placed as 1st Runner Up.
On the 1st of July 2012, the club was officially recognised as a President’s
Distinguished club, a very proud moment and a first for the club. This award is
the culmination of 3 years of work and dedication of the founding and existing
members as well as the Executive Committee members. It was no mean feat and
the club is very proud to have achieved this much sought after award.
Steadfast is the best word to describe the next half of 2012 for the Eurasian
Association’s Toastmasters club which lost many members and President Kiran
Kandade, thankfully Area Governor Crispin Rodrigues stepped in to take over
in October 2012 and along with the new Executive Committee is working on
stabilizing the membership as well as re-focusing on communication skills and
leadership development — what the Toastmasters movement is really all about.
Winners at the 51st EA chapter meeting - From left to right- Vernon Lim, the best
speaker, Adam Abdeali the best evaluato~
The club has been privileged to have visitors to assist it from other Toastmasters
clubs such as James Cook University Toastmasters Club, NUS Toastmasters Club,
Fort Canning Toastmasters Club and Geylang Serai Toastmasters Club, just to name
a few.
The club held its annual Christmas celebration meeting in December, in keeping
with tradition.
Club member Sherlin Giri was selected as our representative at the annual
Humorous Speech and Evaluation Contest, where she displayed finesse and skill in
her speech which many will remember.
Over 2013, the club will work toward and aim to achieve the Distinguished
Club status once again, and continue to develop its strengths as well as grow its
membership.
Dancing to ‘Gangnam Style’
24
corporate
communications
Committee Members
Ms. Angelina Fernandez (Chairperson), Ms. Krystle Nonis, Ms. Jean Angus, Mr. Ion Danker, Ms. Rebecca Morris
(Editor), Ms. Irfa Tukiman (Executive).
the communications committee
The committee was established in May 2008 with the purpose of disseminating
information and raising awareness of the Eurasian community and its culture
and heritage. Ms. Angelina Fernandez joined the Communications committee as
Chairperson in April 2012.
The NewEurasian Magazine
The EA’s quarterly magazine, The NewEurasian, has a circulation of over 7,800
readers and is read by more than 17,000 Eurasians in Singapore. It is also circulated
to senior government offices, various ministries, statutory boards, community
organisations and self-help groups. The publication is targeted at the Eurasian
community in Singapore and overseas, as well as members of the public who may
have an interest in the Eurasian community. Many EA members and volunteers have
contributed content to The NewEurasian, keeping the publication fresh and diverse.
Back issues of The NewEurasian are also available for download via the EA website.
EA’s website
E-newsletter
The EA’s monthly e-newsletter provides the Eurasian community in Singapore and
overseas with up-to-date announcements of events related to the EA, or any other
happenings of interest or benefit to the Eurasian community at large.
Website
The EA’s website www.eurasians.org.sg continues to be a source of information
pertaining to the EA, for existing members or those who are new to the EA. All
information about the Association, upcoming events, as well as past issues of The
NewEurasian magazine and the EA’s annual reports are available for download from
the EA’s website.
Facebook
The EA’s Facebook page http://www.facebook.com/eurasianassociation creates
another avenue for the EA to extend their reach to the wider Eurasian community.
The Facebook page continues to be a large source that focused on community
building and sharing of information.
Latest Covers of The NewEurasian
Twitter
The EA’s Twitter page http://twitter.com/EurasianSG was set up in late 2012. Twitter
creates another avenue to reach out to audience in the twittersphere.
EA’s Facebook
25
volunteer
management
In 2012, the EA continued to be proactive in attracting and retaining a committed
team of volunteers to contribute their valuable time and skills to the Association.
The volunteer database is regularly maintained and updated to support events
and activities organised by the EA’s sub-committees. Recruitment is done primarily
through EA’s publication such as The NewEurasian, e-newsletter, website, and
Facebook. We have 145 volunteers to date.
These are some events and ongoing programmes that our wonderful volunteers
have supported:
IRIR harmony nite 2012
•
•
•
•
•
•
•
•
•
Family Support Services Christmas Lunch
Chingay Parade
Family Support Services ration runs and packing of Christmas hampers
The Eurasian Experience
The Eurasian Reunion 2012
Inter-racial Inter-religious Harmony Nite
ECF Education Awards Ceremony
Joint Tuition Awards Ceremony
Eurasian Community House Christmas decoration
Volunteer Appreciation
A Volunteer Appreciation Dinner was held on 8 March to honour all EA Chingay
volunteers who have dedicated their time and skills in Chingay Parade 2012.
Volunteers at the Volunteer Appreciation Dinner
house
operations
Mr. Lester Low
EDDIE’S PLACE
The exterior of the Eurasian Community House at 139 Ceylon Road
Quentin’s Eurasian Restaurant continues to draw members and guests of all races
to the EA, particularly after the success of the TV show, The Skinny Chef featuring
Eurasian chef Quentin Pereira who brought Eurasian cuisine to the homes of all
Singaporeans via the television screen.
Quentin’s is open for lunch at 11.30am to 2.30pm and for dinner at 6.30pm to
10.30pm, from Tuesdays to Sundays.
UTILISATION OF FACILITIES
House facilities were well-utilised in 2012. A range of activities and events were
hosted in the ECH’s Multi-purpose Hall (MPH). The EA also housed ongoing
classes and activities such as Mandarin and Portuguese language classes, medieval
swordsmanship and many other community events.
HOUSE MAINTENANCE
The John Hochstadt room situated in the Eurasian Community House
The monthly housekeeping and maintenance costs amounted to about $5000
per month which is slightly higher than previous years due mainly to age of the
building and fixtures. The monthly maintenance and housekeeping costs comprised
maintenance and servicing of the lift, air-conditioning, power generator, fire and
security alarm, as well as pest control, cleaning and landscaping.
SINKING FUND
A Facility Management Firm was engaged to determine the amount of Sinking
Fund required. The Management Committee has approved the recommendation
made by the Consultant and a Sinking Fund has officially been set up.
26
treasurer’s
report
The financial statements were prepared in accordance with the Recommended Accounting Practice for Charities (RAP6). Accordingly, its reserves
and all its income resources have been classified as either unrestricted funds or as restricted funds to the extent to use of the funds are to be applied
for specified purpose. Income and expenditure incurred on various programs reflect the gross amounts. In addition, the reserves and income of the
Eurasian Association Endowment Fund has been excluded from the audited financial statements of the Eurasian Association, as the Fund is seperately
governed by the provisions of the Trust Deed and issues its own financial statements.
To ensure adequate funding for the programs run by The Eurasian Association, the Management Committee embarked on a fund raising drive in
FY2012. The Eurasian Reunion 2012 raised $211,380, the President Challenge Charity Fund contributed $167,000 and the Ministry of Culture,
Community and Youth awarded a grant of $200,000. As a result, we recorded an overall surplus of $232,171.
Total incoming resources for the year was $2,018,041 of which $501,833 was classified as restricted funds and the balance $1,516,208 as
unrestricted funds, as compared to total gross income resources of $1,909,460 in 2011. Total expenditure amounted to $1,785,870 (compared
to total expenditure in 2011 of $1,698,481) of which $371,583 was funded by restricted funds with the balance of $1,414,287 being funded out
unrestricted funds, resulting in a surplus in unrestricted fund reserve of $101,921.
summary of reserves
Unrestricted
Funds
Internally
Restricted
General &
Community
Fund
Sinking
Fund
Education
Fund
Heritage
endowment
Fund
GST offset
package
Fund
Opportunity
fund
Dr Paglar
Scholarship
fund
EW
Barker
Book
Special
purpose
Funds
$
$
$
$
$
$
$
$
$
$
Balance at 1 January
2011
940,057
-
30,167
125,000
570
43,442
94,243
-
405,511
1,638,990
Total comprehensive
income for the year
162,398
-
-
-
-
(26,887)
(67,000)
-
142,468
210,979
Transfer from
Unrestricted Funds
(30,000)
-
-
-
-
-
-
-
30,000
-
Balance at 31
December 2011
Restricted Funds
Total
1,072,455
-
30,167
125,000
570
16,555
27,243
-
577,979
1,849,969
Total comprehensive
income for the year
101,921
-
-
-
-
(16,555)
90
(32,704)
179,419
232,171
Transfer from
Unrestricted Fund
(135,000)
100,000
-
-
-
-
-
35,000
-
-
1,039,376
100,000
30,167
125,000
570
-
27,333
2,296
757,398
2,082,140
Balance at 31
December 2012
reserves ratio policy
The Board of Trustees & Management Committee, having considered the Eurasian Association’s sources of funds and annual expenditure have
decided on a reserve policy of 3:1 i.e.: to maintain reserves being its unrestricted fund balance of 3 times its estimated annual operating expenditure
to ensure sufficient funds for its continued growth and to undertake its various programs.
The ratio of Reserve to annual expenditure is currently 0.88:1 (2012) and 0.92:1 (2011). In order to increase its reserves, the Eurasian Association will
continue to raise funds through programs and events to raise additional donations from the community and public.
major donors include
DonorsS$
Temasek Cares CLG Limited
Chew How Teck Foundation
Mr. Lawrence da Silva
Mr. Pereira Quentin Bernard
Mr. SR Nathan
Far East Organization
The Community Foundation of Singapore
Mr. Benett Theseira
25,335
20,000
14,000
12,000
12,000
10,000
9,000
5,139
DonorsS$
Allen & Gledhill LLP
Ms. Judith Prakash
Mr. Simon de Cruz
Ms. Deborah Evaline Barker
Mr. Gerard De Silva
Mr. Kronenburg Edmund Jerome
5,000
5,000
4,120
3,000
3,000
3,000
2,000
The minimum donations amount recognized in the list of donors is $2,000.00.
27
TREASURER’S REPORT (cont’d)
Special
Purpose
Donations
6%
Events &
Programmes
6%
summary of incoming resources
Sources of Funds
Eurasian Community Fund
Contributions Government
Eurasian Reunion 2012
Matching Grants
President’s Challenge Charity Fund
Government Grant for Land Lease
Events & Programs
Special Purpose Donations
Other Income
Eurasian Heritage Cooking
Unrestricted Donations
TOTAL
S$
%
495,943 397,405 211,380 200,000 167,000 149,137 128,953 128,585 63,908 54,270 21,460 2,018,041 25%
20%
11%
10%
8%
7%
6%
6%
3%
3%
1%
100%
Eurasian
Heritage
Cooking
3%
Other
Income
3%
Eurasian
Community
Fund
25%
Unrestricted
Donations
1%
Contributions
Government
20%
Government
Matching
Grant for
Grants
Land Lease
10%
7%
President’s
Eurasian
Challenge
Reunion 2012
Charity Fund
11%
8%
Depreciation
12%
Adminstrative &
Governance Costs
21%
Education &
Training
Programmes
15%
Family
Support
Service
11%
Land
Lease
Cost
8%
summary of expenditure
Expenditure
Administrative & Governance Costs
Education & Training Programs
Depreciation
Family Support Service Land Lease Cost
Eurasian Community House
Others Activities
Community Development & Outreach
Publications
Heritage and Culture Education
TOTAL
S$
%
375,425 265,740 214,840 205,011 136,803 136,390 102,354 100,631 93,863 69,795 65,973 19,045 1,785,870 21%
15%
12%
11%
8%
8%
6%
5%
5%
4%
4%
1%
100%
Eurasian
Heritage
Cooking
1%
Heritage and
Culture
Education
4%
28
Eurasian
Community
House
8%
Publications
4%
Community
Development
& Outreach
5%
Eurasian
Reunion
2012
5%
Other
Activities
6%
the eurasian association,
Singapore
contents
Page
Statement by the Management Committee
30
Independent Auditor’s Report
31
Statement of Financial Position
33
Statement of Comprehensive Income
34
Statement of Changes in Funds
36
Statement of Cash Flows
37
Notes to the Financial Statements
38
29
Statement by the
management committee
for the financial year ended 31 December 2012
The Management Committee are responsible for the preparation and fair presentation of these financial statements in accordance with the provisions
of the Constitution of the Association, the Charities Act, Cap. 37, the Societies Act, Cap. 311 and Singapore Financial Reporting Standards.
This responsibility includes selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the
circumstances.
We, Benett Maximillian Theseira and Paul Leong Siew Choong, being two of the members of the Management Committee of The Eurasian
Association, Singapore, do hereby state that, in the opinion of the Management Committee, the accompanying the statement of financial position,
statement of income and expenditure, statement of changes in funds and statement of cash flows, together with the notes thereon, are properly
drawn up so as to present fairly, in all material respects, the state of affairs of the Association as at 31 December 2012 and of the results, changes
in accumulated funds and cash flows of the Association for the financial year ended on that date, and at the date of this statement, there are
reasonable grounds to believe that the Association will be able to pay its debts as and when they fall due.
On Behalf of the Management Committee
benett maximillian theseira
President
Dated: 28th February 2013
30
paul leong siew choong
Honorary Treasurer
independent auditor’s
report
to the members of The Eurasian Association, Singapore
Report on the financial statements
We have audited the accompanying financial statements of The Eurasian Association, Singapore (“the Association”), which comprise the statement
of financial position as at 31 December 2012, the statement of comprehensive income, statement of changes in funds and the statement of cash
flows for the year then ended, and a summary of significant accounting policies and other explanatory information.
The Management Committee’s responsibility for the financial statements
The Management Committee are responsible for the preparation and fair presentation of these financial statements in accordance with the
provisions of the Constitution of the Association, the Charities Act, Cap. 37, the Societies Act, Cap. 311, Recommended Accounting Practice 6 and
Singapore Financial Reporting Standards for devising and maintaining a system of internal accounting controls sufficient to provide a reasonable
assurance that assets are safeguarded against loss from unauthorised use or disposition; and transactions are properly authorised and that they are
recorded as necessary to permit the preparation of true and fair statement of comprehensive income accounts and balance sheets and to maintain
accountability of assets.
Auditor’s responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Singapore
Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures
selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial statements, whether
due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation of the financial
statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose
of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting
policies used and the reasonableness of accounting estimates made by management committee, as well as evaluating the overall presentation of
the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
31
report (cont’d)
to the members of The Eurasian Association, Singapore
Opinion
In our opinion, the financial statements are properly drawn up in accordance with the provisions of the Constitution of the Association, the Charities
Act, Cap. 37, the Societies Act, Cap. 311, Recommended Accounting Practice 6 and Singapore Financial Reporting Standards to give a true and fair
view of the state of affairs of the Association as at 31 December 2012 and the results, changes in funds and cash flows of the Association for the
year ended on that date;
Report on Other Legal and Regulatory Requirements
Management Committee’s Responsibility for Compliance with Legal and Regulatory Requirements
Management is responsible for ensuring that the receipts, expenditure, investment of moneys and the acquisition and disposal of assets, are in
accordance with the provisions of the Charities Act, Cap. 37 and the Societies Act, Cap. 311 (the “Acts”). This responsibility includes implementing
accounting and internal controls as management committee determines are necessary to enable compliance with the provisions of the Acts.
Auditor’s Responsibility
Our responsibility is to express an opinion on management committee’s compliance based on our audit of the financial statements. We conducted
our audit in accordance with Singapore Standards on Auditing. We planned and performed the compliance audit to obtain reasonable assurance
about whether the receipts, expenditure, investment of moneys and the acquisition and disposal of assets, are in accordance with the provisions of
the Acts.
Our compliance audit includes obtaining an understanding of the internal control relevant to the receipts, expenditure, investment of moneys and the
acquisition and disposal of assets; and assessing the risks of material misstatement of the financial statements from non-compliance, if any, but not
for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Because of the inherent limitations in any accounting
and internal control system, non-compliances may nevertheless occur and not be detected.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on management committee’s
compliance.
Opinion
In our opinion:
(a)
the receipts, expenditure, investment of moneys and the acquisition and disposal of assets by the Association during the year are, in all
material respects, in accordance with the provisions of the Acts; and
(b)
proper accounting and other records have been kept, including records of all assets of the Association whether purchased, donated or
otherwise.
Foo Kon Tan Grant Thornton LLP
Public Accountants and
Certified Public Accountants
Singapore, 28th February 2013
32
statement of
financial position
as at 31 December 2012
31 December 2012
31 December 2011
Note
$$
Assets
Non-Current Property, plant and equipment
3
3,879,7264,050,038
Current Inventories4
2,9772,698
Other receivables
5
316,177364,782
Deposits and prepayments
6
18,51024,151
Fixed deposits
7
143,577143,374
Cash and bank balances
7
1,406,3081,358,257
1,887,5491,893,262
Total assets
5,767,2755,943,300
Funds
Unrestricted Funds
8
1,039,3761,072,455
Restricted Funds
- Sinking fund
8(a)
100,000- Education fund
9
30,16730,167
- Heritage endowment fund
10
125,000125,000
- GST-offset package fund
11
570570
- Opportunity fund
12
-16,555
- Dr Paglar Scholarship
13
27,33327,243
- E W Barker Book
2,296- Special Purpose funds
14
757,398577,979
Total restricted funds
1,042,764777,514
Total funds
2,082,1401,849,969
Liabilities
Non-current
Deferred capital grants
15
3,341,5123,538,917
Current Trade and other payables
16
343,623554,414
Total liabilities
3,685,1354,093,331
Total funds and liabilities5,767,2755,943,300
The annexed notes form an integral part of and should be read in conjunction with these financial statements.
33
34
15
Deferred capital grants amortised
21
Community development and outreach programmes
158
-
-
-
-
158
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Heritage
Endowment
Fund
$
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
90
-
-
-
90
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Externally restricted
GST Offset
Package Opportunity
Dr Paglar
Fund
Fund
Scholarship
$
$
$
Total incoming resources (A)
-
2,244
1,516,208
-
53,952
Job credit scheme
Other activities
26
-
-
13
25
Proceeds from the sale of books
Publication sale of books
-
10
-
54,270
-
-
211,380
-
-
55,538
1,464
-
2,263
1,300
Interest income
Subscription fees
Other income
19
20
Youth and sports development
Performing arts development programmes
-
59,461
10,391
17
18
-
197,405
Education and training programmes
-
-
Heritage and culture education
Funds from Events/Programmes
14
11
Government grants – Top Up Grant from MCYS
Government grants – Others
-
-
149,137
-
-
200,000
-
21,460
Government grants – TOL
-
495,943
Education
Fund
$
Government grants – ECF matching
Grants
8
14
President’s Challenge Charity Fund
Charity Golf 2011
14
Note
Donation for Special Purpose Funds
Donations
ECF Contributions - CPF Check-off Scheme
Voluntary income
INCOMING RESOURCES
Unrestricted
Funds
$
6,000
-
6,000
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
E W Barker
Book
$
495,585
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
200,000
-
-
-
167,000
128,585
-
-
Special
Purpose
Fund
$
statement of comprehensive income
2,018,041
2,244
59,952
-
90
1,622
-
54,270
211,380
55,538
1,300
2,263
10,391
59,461
197,405
-
200,000
200,000
149,137
-
167,000
128,585
21,460
495,943
Total
2012
$
1,909,460
-
67,193
900
90
1,601
996
-
-
52,884
-
400
17,718
54,041
197,405
36,000
200,000
200,000
145,528
171,968
167,000
71,585
55,800
468,351
Total
2011
$
35
8,049
100,631
60,777
20
21
22
Performing arts development programmes
Community development and outreach programmes
Family support service programmes
-
24,257
21,957
26
101,921
-
101,921
1,414,287
69,795
-
-
-
-
-
-
-
-
-
-
-
-
158
-
-
-
-
-
-
-
-
-
-
-
-
-
-
158
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(16,555)
-
(16,555)
16,555
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
16,555
90
-
90
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Heritage
Endowment
GST Offset Opportunity
Dr Paglar
Fund Package Fund
Fund
Scholarship
$
$
$
$
Total comprehensive income/(expense) for the year Other comprehensive income, at nil tax
Other comprehensive income:
Surplus/(deficit) for the year (A)-(B)
Total resources expended (B)
Other activities
Inventory write-down
Publications/sales of books
Others
4
375,425
273,193
23
24
Administration and governance costs
Eurasian community house
25
214,840
3
Depreciation of property, plant and equipment
-
-
19,045
Eurasian heritage cooking
CPF Agency fees
-
93,863
-
-
-
-
-
-
Education
Fund
$
Eurasian reunion 2012
-
9,387
19
Youth and sports development programmes
Expenditure of generating voluntary income and
governance costs
Charity golf 2011
77,253
65,815
17
18
Note
Expenditures of Events/Programmes
Education and training programmes
Heritage and culture education
RESOURCES EXPENDED
Unrestricted
Funds
$
(32,704)
-
(32,704)
38,704
38,704
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
EW
Barker
Book
$
179,419
-
179,419
316,166
-
-
-
-
-
-
-
-
-
-
144,234
-
-
-
-
171,932
Special
Purpose
Fund
$
232,171
-
232,171
1,785,870
60,661
-
69,795
273,193
375,425
214,840
24,257
19,045
93,863
-
205,011
100,631
8,049
9,387
65,973
265,740
Total
2012
$
statement of comprehensive income (cont’d)
210,979
-
210,979
1,698,481
40,394
58,619
75,872
227,038
428,338
215,992
23,628
-
-
46,574
266,881
48,091
8,535
3,078
10,093
245,348
Total
2011
$
36
-
1,072,455
100,000
1,039,376
Balance at 31 December 2012
30,167
-
-
30,167
-
-
Education
Fund
$
30,167
100,000
101,921
(135,000)
Total comprehensive income/(expense) for the year
Transfer from Unrestricted Fund
Balance at 31 December 2011
(30,000)
-
162,398
Transfer from unrestricted funds (Note 14)
Unrestricted
Funds
$
940,057
Internally
restricted
Sinking Fund
$
-
Total comprehensive income/(expense) for the year
Balance at 1 January 2011
125,000
-
-
125,000
-
-
570
-
-
570
-
-
-
-
(16,555)
16,555
-
(26,887)
Heritage
Endowment
GST Offset Opportunity
Fund
Package
Fund
$
$
$
125,000
570
43,442
Statement of Changes in Funds
27,333
-
90
27,243
-
(67,000)
Dr Paglar
Scholarship
$
94,243
2,296
35,000
(32,704)
-
-
EW Barker
Book
$
-
757,398
-
179,419
577,979
30,000
142,468
Special
Purpose
Fund
$
405,511
2,082,140
-
232,171
1,849,969
-
210,979
Total
$
1,638,990
statement of
cash flows
Cash Flows from Operating Activities
Surplus for the year
Adjustments for:
Amortisation of deferred capital grants
Interest income
Operating surplus before working capital changes
Changes in inventories
Changes in receivables
Changes in deposits and prepayments
Changes in trade and other payables
Cash generated from operations
Interest received
Net cash generated from operating activities
Cash Flows from Investing Activity
Purchase of property, plant and equipment
Net cash used in investing activity
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year (Note 7)
Year ended
31 December 2012
$
Year ended
31 December 2011
$
232,171
210,979
(197,405)
(1,622)
231,867
265,011
(279)
48,605
5,641
(210,791)
108,187
1,622
109,809
(197,405)
(1,601)
215,992
227,965
66,177
(79,436)
(5,284)
472,284
681,706
1,601
683,307
(61,555)
(61,555)
(60,849)
(60,849)
48,254
1,461,631
1,509,885
622,458
839,173
1,461,631
37
Notes to the
financial statements
1General information
The financial statements of The Eurasian Association, Singapore (“Association”) for the year ended 31 December 2012 were authorised for
issue in accordance with a resolution of the Management Committee on the date of the Statement by the Management Committee.
The Association was established in July 1919 and was registered in the Republic of Singapore as a Society on 15 January 1964.It was
registered as a Charity on 27 June 1995 under the Charities Act, Chapter 27 and is recognised as an Institution of Public Character under
the Income Tax Act, Chapter 134.
The registered office of The Eurasian Association, Singapore is located at 139 Ceylon Road, Singapore 429744.
The principal activity of the Association is to promote economic, social, cultural, moral, physical and intellectual advancement of all
Eurasians in Singapore.
2(a)Basis of preparation
The financial statements have been prepared in accordance with applicable Singapore Financial Reporting Standards (“FRS”), including
related Interpretations promulgated by the Accounting Standards Council, and Recommended Accounting Practice 6. The financial
statements have been prepared under the historical cost convention, except as disclosed in the accounting policies below.
The financial statements are presented in Singapore dollars which is the Association’s functional currency. All financial information has been
presented in Singapore dollars, unless otherwise stated.
The accounting policies used by the Association have been applied consistently to all periods presented in these financial statements.
The preparation of financial statements in conformity with FRS requires management to make judgement estimates and assumptions
that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. The estimates
and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the
circumstances, the results of which form the basis of making the judgement about carrying amounts of assets and liabilities that are not
readily apparent from other sources. 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 estimate is revised and in any future periods affected.
Critical assumptions used and accounting estimates in applying accounting policies are described below:
Impairment of property, plant and equipment
Property, plant and equipment are reviewed to determine whether there is any indication that the carrying value of these assets may not
be recoverable and have suffered an impairment loss. If any such indication exists, the assets are tested for impairment. The recoverable
amounts of the assets are estimated in order to determine the extent of the impairment loss, if any. The recoverable amount is the higher of
an asset’s fair value less costs to sell and value in use. Such impairment loss is recognised in the statement of comprehensive income.
Judgement is required in the area of asset impairment, particularly in assessing: (1) whether an event has occurred that may indicate that
the related asset values may not be recoverable; (2) whether the carrying value of an asset can be supported by the net present value
of future cash flows which are estimated based upon the value-in-use calculation; (3) the appropriate key assumptions to be applied in
preparing cash flow projections including whether these cash flow projections are discounted using an appropriate rate. Changing the
assumptions selected by the Management Committee to determine the level, if any, of impairment, including the discount rates or the
growth rate assumptions in the cash flow projections could materially affect the net present value used in the impairment test and as a
result affects the Association’s results.
Property, plant and equipment are depreciated on a straight-line basis over their estimated useful lives. Changes in the expected level of
usage and technological developments could impact the economic useful lives and the residual values of these assets, therefore future
depreciation charges could be revised.
Allowance for inventories
A review is made periodically on inventories for excess inventories and decline in net realisable value below cost and a provision will be
made against the inventory balance for any such decline. These reviews require management to estimate future demand for products.
Possible changes in these estimates could result in revisions to the valuation of inventories.
Allowance for doubtful receivables
Allowance for doubtful receivables is based on an evaluation of the recoverability of other receivables. A considerable amount of judgement
is required in assessing the ultimate realisation of these receivables, including their current credit worthiness, past collection history of each
counterparty and ongoing dealings with them. If the financial conditions of the counterparties with which the Association contracted were
to deteriorate, resulting in an impairment of their ability to make payments, additional allowance may be required.
38
Notes to the
financial statements (cont’d)
2(b)New accounting standards and interpretations
Adoption of new or revised FRS
On 1 January 2012, the Association adopted the new or amended FRS and Interpretations to FRS (“’INT FRS”) that are mandatory for
application from that date. This includes the following FRS and INT FRS, which are relevant to the Association:
Reference
FRS 12
FRS 107
Improvements to FRSs 2010
Description
Deferred Tax - Recovery of Underlying Assets
Disclosures - Transfers of Financial Assets
The adoption of these new/revised FRS did not result in any changes to the Association’s accounting policies nor any significant impact on
these financial statements.
Reference
FRS 1
Revised FRS 19
Revised FRS 27
Revised FRS 28
FRS 32
FRS 107
FRS 110
FRS 110
FRS 111
FRS 112
FRS 113
Description
Amendments to FRS 1 – Presentation of Items of Other Comprehensive Income
Employee Benefits
Separate Financial Statements
Investments in Associates and Joint Ventures
Amendments to FRS 32: Offsetting of Financial Assets and Financial Liabilities
Amendments to FRS 107: Disclosures - Offsetting of Financial Assets and Financial Liabilities
Consolidated Financial Statements
Amendments to FRS 110, FRS 111 and FRS 112: Consolidated Financial Statements,
Joint Arrangements and Disclosure of Interests in Other Entities: Transition Guidance
Joint Arrangements
Disclosure of Interests in Other Entities
Fair Value Measurement
The Management Committee does not anticipate that the adoption of other FRSs and INT FRSs in future periods will have a material impact
on the financial statements of the Association.
2(c)Summary of significant accounting policies
Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any.
The cost of property, plant and equipment includes expenditure that is directly attributable to the acquisition of the items. Dismantlement,
removal or restoration costs are included as part of the cost of property, plant and equipment if the obligation for dismantlement, removal or
restoration is incurred as a consequence of acquiring or using the asset.
Depreciation on other property, plant and equipment is calculated using the straight-line method to allocate their depreciable amounts over
their estimated useful lives as follows:
Community building
Furniture and fittings
Office equipment
Other assets
30 years
5 years
3 - 5 years
3 - 5 years
Other assets comprise computers, motor vehicles, musical instrument, multimedia and video production, renovations and Heritage Galleries.
The residual values, depreciation methods and useful lives of property, plant and equipment are reviewed and adjusted as appropriate at the
reporting date.
39
Notes to the
2(c)Summary of significant accounting policies (cont’d)
Subsequent expenditure relating to property, plant and equipment that has already been recognised is added to the carrying amount of the
asset when it is probable that future economic benefits, in excess of the standard of performance of the asset before that expenditure was
made, will flow to the Association and the cost can be reliably measured. Other subsequent expenditure is recognised as an expense during
the financial year in which it is incurred.
For acquisitions and disposals during the financial year, depreciation is provided from the month of acquisition and to the month before
disposal respectively. Fully depreciated property, plant and equipment are retained in the books of accounts until they are no longer in use.
The gain or loss arising on disposal or retirement of an item of plant and equipment is determined as the difference between the sales
proceeds and the carrying amounts of the asset and is recognised in the income statement.
Grants
Grants from organisations for the purchase of property, plant and equipment are taken to the deferred capital grants account. Deferred
capital grants are recognised in the statement of comprehensive income on a systematic basis over the periods necessary to match the
depreciation of property, plant and equipment which they are intended to compensate. On disposal of the property, plant and equipment,
the balance of the related grants is recognised in the statement of comprehensive income to match the net book value of the property, plant
and equipment disposed of.
Grants in respect of the current year’s operating expenses are recognised as income in the same year. Grants which are received but not
utilised are included in the grants received in advance account. Grants are accounted for on an accrual basis.
Inventories
Inventories are carried at the lower of cost and net realisable value. Cost is determined on a first-in, first-out basis, and includes all costs in
bringing the inventories to their present location and condition.
Net realisable value is the estimated selling price in the ordinary course of business less the estimated costs necessary to make the sale.
Allowance is made for obsolete, slow-moving and defective inventories in arriving at the net realisable value. The amount of any writedown of inventories to net realisable value is recognised as an expense in the period the write-down occurs. The amount of any reversal
of any write-down of inventories, arising from an increase in net realisable value, is recognised as a reduction in the amount of inventories
recognised as an expense in the period in which the reversal occurs.
Financial assets
Financial assets can be divided into the following categories: financial assets at fair value through profit or loss, held-to-maturity investments,
loans and receivables and available-for-sale financial assets. Financial assets are assigned to the different categories by management on initial
recognition, depending on the purpose for which the investments were acquired. The designation of financial assets is re-evaluated and
classification may be changed at the reporting date with the exception that the designation of financial assets at fair value through profit or
loss is not revocable.
All financial assets are recognised on their trade date - the date on which the Association commits to purchase or sell the asset. Financial
assets are initially recognised at fair value, plus directly attributable transaction costs except for financial assets at fair value through profit or
loss, which are recognised at fair value.
Derecognition of financial instruments occurs when the rights to receive cash flows from the investments expire or are transferred and
substantially all of the risks and rewards of ownership have been transferred. An assessment for impairment is undertaken at least at each
reporting date whether or not there is objective evidence that a financial asset or a group of financial assets is impaired.
Non-compounding interest and other cash flows resulting from holding financial assets are recognised in the statement of comprehensive
income when received, regardless of how the related carrying amount of financial assets is measured.
The Association does not hold any financial assets at fair value through profit or loss, held-to-maturity investments or available-for-sale
financial assets.
Loans and receivables
Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. They
arise when the Association provides money, goods or services directly to a debtor with no intention of trading the receivables. They are
included in current assets, except for maturities greater than 12 months after the reporting date which are classified as non-current assets.
Loans and receivables 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 provision for impairment. Any change in
their value is recognised in the statement of comprehensive income. Any reversal shall not result in a carrying amount that exceeds what
the amortised cost would have been had any impairment loss not been recognised at the date the impairment is reversed. Any reversal is
recognised in the statement of comprehensive income.
40
Notes to the
2(c)Summary of significant accounting policies (cont’d)
Receivables are provided against when objective evidence is received that the Association will not be able to collect all amounts due to it in
accordance with the original terms of the receivables. The amount of the write-down is determined as the difference between the asset’s
carrying amount and the present value of estimated future cash flows.
Loans and receivables comprise cash and cash equipvalents and other receivables.
Cash and cash equipvalents comprise cash balances and demand deposits.
Funds
The Association maintains restricted and unrestricted funds. Funds set up for specific purposes are classified as restricted funds. All income
and expenses, other than those attributable to restricted funds and common overheads are recorded in the unrestricted fund’s profit or loss.
In order to ensure the observance of limitations and restrictions placed on the use of resources available to the Association, the financial
statements of the Association are maintained substantially in accordance with the principles of “fund accounting” whereby the resources for
various purposes are classified for accounting and reporting purposes into funds that are in accordance with activities or objectives specified.
Financial liabilities
The Association’s financial liabilities include trade payables and other payables.
Financial liabilities are recognised when the Association becomes a party to the contractual agreements of the instrument. All interest-related
charges are recognised as an expense in “finance cost” in profit or loss. Financial liabilities are derecognised if the Association’s obligations
specified in the contract expire or are discharged or cancelled.
Trade and other payables are initially recognised at fair value, and subsequently measured at amortised cost, using the effective interest
method.
Gains and losses are recognised in profit or loss when the liabilities are derecognised as well as through the amortisation process.
Provisions
Provisions are recognised when the Association has a present obligation (legal or constructive) as a result of a past event, it is probable that
an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the
amount of the obligation. Present obligations arising from onerous contracts are recognised as provisions.
The Management Committee review provisions annually and where in their opinion, the provision is inadequate or excessive, due adjustment
is made.
If the effect of the time value of money is material, provisions are discounted using a current pretax rate that reflects, where appropriate, the
risks specific to the liability. Where discounting is used, the increase in the provision due to the passage of time is recognised as finance costs.
Impairment of non-financial assets
The carrying amounts of non-financial assets subject to impairment are reviewed at each reporting date to determine whether there is any
indication of impairment. If any such indication exists, the asset’s recoverable amount is estimated.
If it is not possible to estimate the recoverable amount of the individual asset, then the recoverable amount of the cash-generating unit to which the assets belong will be identified.
For the purpose of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (cashgenerating units). As a result, some assets are tested individually for impairment and some are tested at cash-generating unit level.
Individual assets or cash-generating units are tested for impairment whenever events or changes in circumstances indicate that the carrying
amount may not be recoverable.
An impairment loss is recognised for the amount by which the asset’s or cash-generating unit’s carrying amount exceeds its recoverable
amount. The recoverable amount is the higher of fair value, reflecting market conditions less costs to sell, and value in use, based on an
internal discounted cash flow evaluation. All assets are subsequently reassessed for indications that an impairment loss previously recognised
may no longer exist.
All impairment losses are charged to the statement of comprehensive income.
An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount or when there is an
indication that the impairment loss recognised for the asset no longer exists or decreases.
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 if no impairment loss had been recognised.
41
Notes to the
Employee benefits
Pension obligations
The Association contributes to the Central Provident Fund, a defined contribution plan regulated and managed by the Government of
Singapore, which applies to the majority of the employees. Contributions to defined contribution plans are charged to the statement of
comprehensive income in the period to which the contributions relate.
Employee leave entitlements
Employee entitlements to annual leave are recognised when they accrue to employees. Accrual is made for the unconsumed leave as a result
of services rendered by employees up to the reporting date.
Key management personnel
Key management personnel are those persons having the authority and responsibility for planning, directing and controlling the activities of
the entity. A key executive officer is considered key management personnel.
Related parties
For the purposes of these financial statements, parties are considered to be related to the Association if the Association has the ability,
directly or indirectly, to control the party or exercise significant influence over the party in making financial and operating decisions, or
vice versa, or where the Association and the party are subject to common control or common significant influence. Related parties may be
individuals or other entities.
Incoming resources
Donations and income from fund raising projects are recognised in the financial statements as and when received. Donations received
through the Central Provident Fund scheme are recognised on an accrual basis.
Revenue generated from social activities, events and programmes are recognised when services are rendered.
Grants and subsidies are recognised as income to match the related expenditure.
Rental income from leasing the premises is recognised on a straight-line basis over the lease term.
Interest income is recognised as it accrues, using the effective interest rate method.
42
Notes to the
3
Property, plant and equipment
Community
building
$
Furniture
and fittings
$
Office
equipment
$
Other
assets
$
5,934,799
206,656
- 5,934,799
206,656
5,934,799
206,656
219,381
11,181
230,562
230,562
193,422
49,668
243,090
61,555
304,645
Accumulated depreciation
At 1 January 2011
Depreciation for the year
At 31 December 2011
Depreciation for the year
At 31 December 2012
1,760,138
201,756
215,676
197,827 997 5,016
1,957,965
202,753
220,692
197,827
996
4,870
2,155,792
203,749
225,562
171,507
12,152
183,659
28,174
211,833
2,565,069
Net book value
At 31 December 2012
3,779,007
2,907
5,000
92,812
3,879,726
3,976,834
3,903
9,870
59,431
4,050,038
2012
$
2011
$
214,840
17,027
231,867
215,992
215,992
2012
$
2011
$
Cost
At 1 January 2011
Additions
At 31 December 2011
Additions
At 31 December 2012
At 31 December 2011
Depreciation included in the statement of comprehensive income:
Expenditure of generating voluntary income and governance costs
Heritage and culture education expenditure (Note 18)
Total
$
6,554,258
60,849
6,615,107
61,555
6,676,662
2,349,077
215,992
231,867
2,796,936
4Inventories
Inventories
2,977
2,698
Cost of inventories sold included in “Publications/sales of books” in the statement of comprehensive
8,471
income
There was no write-down in value of inventories during the year. The Association wrote down inventories in the amount of $58,619 to
reflect the decline in the net realisable value of the inventories during the year ended 31 December 2011.
43
Notes to the
5Other receivables
2012
$
CPF check-off contributions receivable
Sundry receivables
Amount owing by Singapore Indian Development Association (“SINDA”) (Note 26)
Government matching grants receivable - Eurasian Community fund
GST offset package
Impairment loss on amount owing by SINDA (Note 26)
2011
$
39,215
89,567
11,804
200,000
36,000
376,586
(11,804)
364,782
40,251
75,926
200,000
316,177
316,177
Impairment loss on the amount owing by SINDA was reversed upon receipt of the amount during the year ended 31 December 2012.
Other receivables are denominated in the Singapore dollar.
6Deposits and prepayments
Deposits
Prepayments
2012
$
2011
$
14,770
3,740
18,510
16,434
7,717
24,151
2012
$
2011
$
1,406,308
143,577
1,549,885
1,358,257
143,374
1,501,631
(40,000)
1,509,885
(40,000)
1,461,631
7Cash and cash equivalents
Cash and bank balances
Fixed deposits
Cash and cash equivalents
Less:
Fixed deposits pledged
Cash and cash equivalents in the statement of cash flows
Cash and bank balances and fixed deposits are denominated in Singapore dollars.
Fixed deposits are pledged to a bank as security for a bank’s guarantee related to the lease of the land for the Association building.
The weighted average effective interest rate of the fixed deposits is 0.08% (2011 - 0.05%) per annum.
8Unrestricted funds
Unrestricted funds comprise the General Fund and the Eurasian Community Fund (“ECF”).
The ECF Fund was set up in 1994 for the educational, social and economic advancement of the Eurasian community. It represents monthly
contributions from the Eurasian community. This Fund qualifies for a Government Grant on a dollar-for-dollar basis, up to a maximum of
$200,000 (2011 - $200,000) per year.
8(a)Sinking funds
The fund is established for improvement to, management and maintenance of the community building.
9Education fund
44
The fund was established in the 1930’s for the education needs of members of the Association.
Notes to the
10Heritage endowment fund
Balance at beginning of year
Income
Interest income from fixed deposits
Total income
Expenditure
Heritage and Culture education (Note 18)
Total expenditure
Balance at end of year
2012
$
2011
$
125,000
125,000
158
158
738
738
(158)
(158)
(738)
(738)
125,000
125,000
The fund has been set aside to generate income for the maintenance cost of the Heritage Centre in the Association’s building.
11GST-offset package fund
Income
ECF Contributions - GST-Offset Package
Government grants – others
Total income
Expenditure
Family support service programmes expenditure (Note 22)
Total expenditure
2012
$
2011
$
570
570
-
36,000
36,000
72,000
-
(72,000)
(72,000)
570
570
The GST-offset package fund is granted as part of the Singapore Government Budget Package 2009 to finance welfare-related programmes.
12Opportunity fund
Expenditure
Education and training programmes expenditure (Note 17)
Total expenditure
2012
$
2011
$
16,555
43,442
(16,555)
(16,555)
(26,887)
(26,887)
-
16,555
The opportunity fund is a dollar-for-dollar matching grant established under the Progress Package (Budget 2007) to finance education-related
and enrichment programmes targeted at school children from low-income families. The initiative has ceased in 2012.
45
Notes to the
13Dr Paglar Scholarship
Income
Income from the sale of books
Total income
Expenditure
Cost of Dr Paglar books sold
Provision for impairment for unsold books
Total expenditure
2012
$
2011
$
27,243
94,243
90
90
90
90
27,333
The fund has been set aside to provide financial assistance to children of members to pursuing continuing education in any field.
46
(8,471)
(58,619)
(67,090)
27,243
47
10,000
369,666
397,999
Transfer from Unrestricted funds charity golf surplus
Balance at end
(164,420)
(171,932)
Programme expenditure
10,950
2,700
100,000
40,000
153,650
31,980
2,950
25,335
100,000
40,000
200,265
Income
Donations received
Donation from Singapore Buddhist Lodge
Donation from Temasek Cares
Donation from Yayasan Mendaki
Donations from President Challenge
Income – Others
Top-up for Self-help Group from MCYS
Total income
370,436
369,666
Education and
Training (Note 17)
2012
2011
$
$
Balance at beginning
14Special Purpose funds
4,481
-
-
4,481
4,481
-
-
4,481
Heritage and Culture
Education (Note 18)
2012
2011
$
$
354,918
(144,234)
33,487
18,833
67,000
16,000
160,000
295,320
203,832
20,000
203,832
(131,697)
57,935
67,000
160,000
284,935
30,594
Family Support
Services (Note 22)
2012
2011
$
$
Notes to the financial statements (cont’d)
757,398
(316,166)
65,467
2,950
25,335
18,833
167,000
16,000
200,000
495,585
577,979
2012
$
Total
30,000
577,979
(296,117)
68,885
2,700
167,000
200,000
438,585
405,511
2011
$
Notes to the
15Deferred capital grants
Balance as at beginning of year
Expenditure
Grants credited to statement of income and expenditure to match
depreciation of property, plant and equipment
Balance
as at end of year
2012
$
3,538,917
2011
$
3,736,322
(197,405)
3,341,512
(197,405)
3,538,917
2012
$
73,557
166,000
2011
$
118,178
333,000
100,134
3,932
343,623
81,946
21,290
554,414
The total grants received since establishment amounted to $ 5,834,000 (2011 - $5,834,000).
16Trade and other payable
Trade payables
Deferred grant
Accruals
Other payables
Trade and other payables are unsecured and repayable within 30 to 60 days (2011: 30 to 60 days).
Trade and other payables are denominated in the Singapore dollar.
48
Notes to the
17Education and training programmes
Income from Events/Programs
Bridging programme
Total income
Events/programme expenditure
Bridging programme
Bursary award Singapore Buddhist Lodge
Coral DeCruz Memorial Fund
Direct operating expenses
ECF education awards
Joint SHG Job Fair
Joint tuition awards
Lawrence da Silva education award
NEU PC Plus programme
Opportunity fund - Bata Shoes vouchers
Opportunity fund - Popular Book vouchers
Opportunity fund – Others
President Bursary award
Salaries and related CPF contribution
SR Nathan Education Upliftment Funds
SR Nathan Financial Assistance
Tuitions/Courses
Total expenditure
Funded by:
Opportunity fund (Note 12)
Special purpose funds (Note 14)
Unrestricted funds
2012
$
2011
$
59,461
59,461
54,041
54,041
59,461
2,950
7,200
1,861
91,516
1,695
10,781
289
25,648
5,014
375
28,359
23,581
2,760
4,000
250
265,740
52,531
2,700
1,160
101,615
470
1,611
593
4,483
22,030
374
8,696
46,301
2,784
245,348
16,555
171,932
77,253
265,740
26,887
164,420
54,041
245,348
49
Notes to the
18Heritage and culture education
2012
$
2011
$
Income from events/programmes
Heritage centre income
Heritage Fest 2012
Income from rental of costumes
Learning journeys fees
Sale of books/compact discs
Total income
2,360
3,100
230
2,784
1,917
10,391
491
9,000
540
3,675
4,012
17,718
Events/Programme expenditure
Books
Heritage Centre expenses
Heritage Chingay
Heritage – Depreciation
Heritage – Utilities
Heritage – Salaries and related CPF contribution
Heritage – Temporary occupation Lisense Fee (Note 24)
Learning journeys
Total expenditure
893
5,112
971
17,027
4,132
25,504
12,334
65,973
2,491
1,180
6,000
82
340
10,093
158
65,815
65,973
738
9,355
10,093
2012
$
2011
$
Functions/Activities - Bryan Davenport soccer tournament
Soccer school
Youth - Toastmaster
Total income
2,263
2,263
40
160
200
400
EA Dragon boat team
EA Dragon boat expenses
Mentoring Youth Leadership Network
Soccer expenses
Toastmaster
Youth professional gathering
Total expenditure
3,055
2,645
100
160
669
2,758
9,387
2,710
215
153
3,078
Funded by:
Heritage endowment fund (Note 10)
Unrestricted Funds
19Youth and sports development programmes
Funded by: Unrestricted fund
50
Notes to the
20 Performing arts development programmes
2012
$
2011
$
Concert/performances
Chingay Parade
Orange Ribbons
Total income
800
500
1,300
-
Concert/performances
Chingay parade
Inter-Racial Inter-Religious Harmony Night
Orange ribbons
Total expenditure
6,840
609
600
8,049
6,691
1,616
228
8,535
2012
$
2011
$
4,816
400
4,169
2,703
41,662
876
912
55,538
5,900
556
3,860
2,106
40,290
172
52,884
5,216
3,283
3,623
39,647
48,862
100,631
4,875
4,125
2,457
36,634
48,091
21Community development and outreach programmes
Income from Events/programmes
Children’s Christmas treat fees
Christmas Carnival fees
Community Christmas party fees
Fees from Monthly Community Development events
New Year’s Eve Ball fees
Oktoberfest Buffet Lunch
Other
Total income
Events/Programme expenditure
Children’s Christmas Treat
Community Christmas Party
Monthly Community Development events
New Year’s Eve Ball
Salaries and related central provident fund contribution
Total expenditure
51
Notes to the
22Family support services
Activities/events for family support services families
Beyond Financial assistance programme
Emergency assistance
Family Christmas party
Financial assistance
Food rations and expenditures
GST Offset - financial assistance
GST Offset - food rations and expenditures
Ration Volunteers appreciation
RWS Voyage De La Vie
Salaries and related CPF contribution
Temasek Care Project Spark
Upkeep of family support services rations delivery van
Utilities
Total expenditure
Funded by:
GST Offset package (Note 11)
Special purpose funds (Note 14)
Unrestricted Funds
52
2012
$
2011
$
688
1,250
705
13,950
85,400
41,791
2,770
51,716
1,845
4,380
516
205,011
367
980
150
112,651
17,547
23,120
48,880
2,813
126
53,921
856
5,470
266,881
144,234
60,777
205,011
72,000
131,697
63,184
266,881
Notes to the
23Administration and governance costs
Advertisement
Audit fees
Bank charges
Bad Debts
Books and newspaper
Computer
Donations
General
Housekeeping & Laundry
Insurance
Meetings and events
Membership Fee
Minor Equipment
Office supplies
Postage and courier
Printing and stationery
Professional fees
Salaries, bonus, allowances and CPF contribution
Staff Welfare and medical
Telephone
Temporary services and volunteer management
Training
Transport
Utilities – office
Total expenditure
2012
$
2011
$
294
33,310
1,500
1,122
385
7,214
1,233
2,958
8,177
3,256
419
2,577
1,419
1,144
11,241
3,393
279,488
151
7,762
56
804
4,912
2,610
375,425
470
30,580
2,347
610
7,610
1,935
1,244
7,839
2,118
26
669
2,154
862
7,124
1,741
284,962
505
4,356
960
2,178
5,293
62,755
428,338
2012
$
2011
$
69,536
22,480
136,803
44,374
273,193
62,402
19,108
145,528
227,038
24Eurasian community house
House expenditure
Maintenance and repair
Security cost
Temporary Occupation License fee#
Utilities – House
Total expenditure
The Association pays a Temporary Occupation License (“TOL”) fee yearly on the plot of land on which its building is located. A grant of equal
amount, presented as “Government grants - TOL” in the statement of comprehensive income, is received from the Ministry of Community
Development, Youth and Sports.
Temporary Occupation License fee included in the statement of comprehensive income:
- Eurasian community house expenditure #
- Heritage and culture education expenditure (Note 18)
2012
$
136,803
2011
$
145,528
12,334
149,137
145,528
53
Notes to the
25
Publication/ Sale of Books
2012
$
-
2011
$
900
-
900
54,700
10,700
4,395
69,795
47,435
14,352
5,614
8,471
75,872
2012
$
2011
$
Other Income
E W Barker Book Project
Bad debts on amount owing by SINDA recovered (Note 5)
Mandarin conversation course
Membership Subscription
Rental - Hall/Meeting Room
Rental - Quentin’s
Studio/guitar lessons
Swordsmanship fees
Total income
6,000
11,804
960
11,570
22,440
3,178
4,000
59,952
2,100
14,281
22,440
20,772
7,600
67,193
Other Expenditure
AGM Expenses
Dance class
E W Barker book project
Event expenditure
Mandarin conversation course
Minister George Yeo’s Visit
Minister S. Iswaran’s Visit
MPH / Meeting room rental
Music instructor fees
New Members’ Night
Portuguese class
SR Nathan’s Visit
Swordsmanship
President Tony Tan’s Visit
Total expenditure
4,534
38,704
6,763
3,558
2,225
161
915
2,800
1,001
60,661
1,778
378
10,885
1,302
1,020
1,054
11,299
5,787
2,591
5,320
40,394
New Eurasian Magazine Advertisement
Total income
Publication – New Eurasian Magazine
Publication –Annual Report
Publication-Others
Sale of books
Total expenditure
26Other activities
27Taxation
The Association is an approved charity under the Charities Act, Chapter 37 and an Institution of Public Character under the Income Tax Act,
Chapter 134. No provision for tax has been made in the financial statements as the Association is exempt from income tax.
54
Notes to the
28
Key management personnel
A key executive officer is considered key management personnel of the Association. Remuneration paid to the key executive officer is
as follows:
Salaries and related costs
CPF contributions
2012
$
91,233
10,608
101,841
2011
$
86,122
10,845
96,967
29Operating lease commitments
The Association as lessee
The Association leases the land for its building from the Singapore Land Authority (“SLA”). The lease expires in August 2014 with a renewal
option. The lease expenditure is funded by a grant from the Ministry of Community Development, Youth and Sports.
The future minimum lease payments under non-cancellable operating leases in respect of the land are as follows:
Not later than one year
Later than one year but not later than five years
Later than five years
2012
$
2011
$
139,380
92,920
232,300
139,380
232,300
371,680
2012
$
2011
$
20,570
20,570
22,440
20,570
43,010
The Association as lessor
The Association leases a shop unit to a third party. The lease expires in November 2013.
Rental receivable under the non-cancellable operating lease is as follows:
Not later than one year
Later than one year but not later than five years
Later than five years
55
Notes to the
30Financial risk management
Financial risk management objectives and policies
The Management Committee has overall responsibility for the establishment and oversight of the Association’s risk management framework.
The Association does not hold or issue derivative financial instruments for trading purposes or to hedge against fluctuations, if any, in interest
rates and foreign exchange.
30.1Credit risk
Credit risk refers to the risk that counterparties may default on their contractual obligations resulting in financial loss to the
Association.
The Association’s exposure to credit risk arises primarily from other receivables.
The Association establishes an allowance for impairment that represents its estimate of incurred losses in respect of other receivables.
The allowance account in respect of other receivables is used to record impairment losses unless the Association is satisfied that no
recovery of the amount owing is possible. At that point, the financial asset is considered irrecoverable and the amount charged to
the allowance account is written off against the carrying amount of the impaired financial asset.
At the reporting date, other than as disclosed in Note 5, no allowance for impairment is in respect of other receivables based on
credit worthiness and past collection history of the counterparties.
Cash balances and fixed deposits are placed with reputable financial institutions.
30.2Market risk
Market risk is the risk that changes in interest rates, foreign exchange rates and market prices will have on the Association’s income
or the value of its holdings of financial instruments.
Interest rate risk
The Association’s exposure to changes in interest rates relates primarily to its variable rate fixed deposits.
For fixed deposits at variable rates, an increase of 50 basis points in interest rate at the reporting date would increase profit before
tax and total funds by less than $1,000 (2011: $1,000). A decrease of 50 basis points in interest rate would have an equal but
opposite effect. This analysis assumes that all other variables, in particular foreign currency rates, remain constant and does not take
into account the associated tax effect.
Foreign currency risk
The Association is not exposed to foreign currency risk as all financial assets and liabilities are denominated in Singapore dollars.
Price risk
The Association is not exposed to price risk as it does not hold any quoted available-for-sale investments.
56
Notes to the
30Financial risk management (cont’d)
30.3Liquidity risk
The Association maintains sufficient level of cash and cash equivalents to finance the Association’s operations and mitigate the
effects of fluctuation in cash flows.
The table below analyses the maturity profile of the Association’s financial liabilities based on contractual undiscounted cash flows.
Contractual cash flows
31 December 2012
Trade and other payables
31 December 2011
Trade and other payables
Carrying
amount
$
Contractual undiscounted cashflows
Less than
Between 2
Total
1 year
and 5 years
$
$
$
Over
5 years
$
343,623
343,623
343,623
343,623
343,623
343,623
-
-
554,414
554,414
554,414
554,414
554,414
554,414
-
-
31Fair values
The notional amounts of financial assets and liabilities with a maturity of less than one year (including other receivables, cash and cash
equivalents, and trade and other payables) approximate their fair values because of the short period to maturity.
32Funds management policy
The objectives of the Management Committee when managing funds are:
(a) to safeguard the Association’s ability to continue as going concerns; and
(b)to provide capital for the purpose of promoting the economic, social, cultural, physical and intellectual advancement of the Eurasian
community in Singapore.
The Management Committee actively and regularly reviews and manage its funds structure to ensure optimal capital structure, taking
into consideration the future requirements, prevailing and projected profitability, projected operating cash flows and projected capital
expenditures.
The Management Committee monitors funds using the annual-operating-expenditure-to-total-funds ratio.
2012
$
2011
$
Annual operating expenditure (A)
1,785,870
1,698,481
Total funds (B)
2,018,040
1,849,969
0.88
0.92
Annual-operating-expenditure-to-total-funds ratio (times) (A)/(B)
The Association is not subject to externally imposed capital requirements. There were no changes in the Association’s approach to capital
management during the year.
57
the eurasian association,
endowment fund
contents
Page
Statement by Trustees
59
Independent Auditor’s Report
60
Statement of Financial Position
62
Statement of Comprehensive Income
63
Statement of Changes in Accumulated Funds
64
Statement of Cash Flows
65
Notes to the Financial Statements
66
58
Statement by
trustees
We, Timothy James De Souza and Gerald Maximillian Minjoot being two of the Trustees of The Eurasian Association, Endowment Fund (“the Fund”),
do hereby state that on behalf of the Trustees, that in the opinion of the Trustees, the accompanying statement of financial statements are properly
are drawn up so as to give a true and fair view of the state of affairs of the Fund and as at 31 December 2012 and of the results, changes in fund
and cash flows of the Fund for the financial year ended on that date in accordance with the Endowment Fund Trust Deed and Singapore Financial
Reporting Standards; and at the date of this statement, there are reasonable grounds to believe that the Fund will be able to pay its debts as and
when they fall due.
On Behalf of the Board of Trustees
timothy james de souza
Trustee
gerald maximillian minjoot
Trustee
Dated: 28th February 2013
59
report
to the members of The Eurasian Association, Endowment Fund
Report on the financial statements
We have audited the accompanying financial statements of The Eurasian Association, Endowment Fund (the “Fund”), which comprise the statement
of financial position as at 31 December 2012, the statement of comprehensive income, statement of changes in accumulated fund and statement of
cash flows for the year then ended, and a summary of significant accounting policies and other explanatory notes.
Trustees’ responsibility for the financial statements
The Trustees are responsible for the preparation and fair presentation of these financial statements in accordance with the provisions of the
Endowment Fund Trust Deed (the “Deed”), Recommended Accounting Practice 6 and Singapore Financial Reporting Standards for devising and
maintaining a system of internal accounting controls sufficient to provide a reasonable assurance that assets are safeguarded against loss from
unauthorised use or disposition; and transactions are properly authorised and that they are recorded as necessary to permit the preparation of true
and fair profit and loss account and balance sheets and to maintain accountability of assets.
Auditor’s responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Singapore
Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures
selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial statements, whether
due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation of the financial
statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of
expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies
used and the reasonableness of accounting estimates made by the Trustees, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
60
report (cont’d)
to the members of The Eurasian Association, Endowment Fund
Opinion
In our opinion, the financial statements of the Fund are properly drawn up in accordance with the provisions of the Deed, Recommended Accounting
Practice 6 and Singapore Financial Reporting Standards to give a true and fair view of the state of affairs of the Fund as at 31 December 2012 and
the results, changes in fund and the cash flows of the Fund for the financial year ended on that date.
Report on other legal and regulatory requirements
Trustees’ Responsibility for Compliance with Legal and Regulatory Requirements
The Trustees are responsible for ensuring that the receipts, expenditure, investment of moneys and the acquisition and disposal of assets, are in
accordance with the provisions of the Charities Act, Cap. 37 and the Charities (Institutions of a Public Character) (Amendment) Regulations 2008 (the
“Acts”). This responsibility includes implementing accounting and internal controls as the Trustees determine are necessary to enable compliance with
the provisions of the Acts.
Auditor’s Responsibility
Our responsibility is to express an opinion on the Trustees’ compliance based on our audit of the financial statements. We conducted our audit in
accordance with Singapore Standards on Auditing. We planned and performed the compliance audit to obtain reasonable assurance about whether
the receipts, expenditure, investment of moneys and the acquisition and disposal of assets, are in accordance with the provisions of the Acts.
Our compliance audit includes obtaining an understanding of the internal control relevant to the receipts, expenditure, investment of moneys and the
acquisition and disposal of assets; and assessing the risks of material misstatement of the financial statements from non-compliance, if any, but not
for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Because of the inherent limitations in any accounting
and internal control system, non-compliances may nevertheless occur and not be detected.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on the Trustees’ compliance.
Opinion
In our opinion:
(a) the receipts, expenditure, investment of moneys and the acquisition and disposal of assets by the Fund during the year are, in all material
respects, in accordance with the provisions of the Acts; and
(b) proper accounting and other records have been kept, including records of all assets of the Fund whether purchased, donated or otherwise.
Foo Kon Tan Grant Thornton LLP
Public Accountants and
Certified Public Accountants
Singapore, 28th February 2013
61
statement of
financial position
as at 31 December 2012
31 December 2012
31 December 2011
Note
$$
Assets
Non-Current Held-to-maturity investments
3
-
772,340
Current Cash and cash equivalents
4
1,440,659552,373
1,440,659
552,373
Total assets
1,440,659
1,324,713
Funds
Accumulated fund
1,435,8591,320,213
Liabilities
Current Accruals
4,800
4,500
Total liabilities
4,8004,500
Total funds and liabilities
1,440,6591,324,713
62
statement of
comprehensive income
Year ended
Year ended
31 December 2012
31 December 2011
Note
$$
Income:
Interest income:
- bank balances
6044
- fixed deposits
1,7654,404
- held-to-maturity investments
31,45437,709
33,27942,157
Other income
- Gain on redemption of held-to-maturity investments
87,660
120,93942,157
Less: Expenditure
Audit fees
4,8004,710
Bank charges
8484
General and administrative expenses
409106
5,2934,900
Surplus before taxation
5
115,64637,257
Taxation6
-Surplus for the year 115,64637,257
Other comprehensive income
-Total comprehensive income for the year
115,64637,257
63
statement of changes
in accumulated fund
Accumulated
fund
$
At 1 January 2011 Total comprehensive income for the year
At 31December 2011 Total comprehensive income for the year
At at 31 December 2012
64
1,282,956
37,257
1,320,213
115,646
1,435,859
statement of
cash flows
Year ended
Year ended
31 December 2012
31 December 2011
$$
Cash Flows from Operating Activities
Surplus for the year 115,64637,257
Adjustments for:
Interest income
(33,279)(42,157)
Gain on redemption of held-to-maturity investments
(87,660)Operating surplus before working capital changes
(5,293)(4,900)
Increase in other payables
3001,500
Cash used in operations
(4,993)(3,400)
Interest received
33,27943,266
Net cash generated from operating activities
28,28639,866
Cash Flow from Financing Activity
Proceeds from redemption of held-to-maturity investments
860,000Net cash generated from investing activities
860,000
Net increase in cash and cash equivalents
888,28639,866
Cash and cash equivalents at beginning of year
552,373512,507
Cash and cash equivalents at end of year (Note 4) 1,440,659552,373
65
notes to the
financial statements
1General information
The financial statements of The Eurasian Association, Endowment Fund (the “Fund”) for the year ended 31 December 2012 were authorised
for issue by the Board of Trustees on 28th February 2013.
The Fund was set up under a Trust Deed dated 30 August 1992.
The registered office of the Fund is located at 139 Ceylon Road, Singapore 429744.
The Fund has been established to provide welfare and financial assistance to the poor and needy among the Eurasian community.
2(a)Basis of preparation
The financial statements have been prepared in accordance with applicable Singapore Financial Reporting Standards (“FRS”), including related
Interpretations promulgated by the Accounting Standards Council, and Recommended Accounting Practice 6. The financial statements have
been prepared under the historical cost convention.
The financial statements are presented in Singapore dollars which is the Fund’s functional currency. All financial information are presented in
Singapore dollars, unless otherwise stated.
The preparation of financial statements in conformity with FRS requires the Trustees to make judgement, estimates and assumptions that
affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. The estimates and associated
assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the
results of which form the basis of making the judgement about carrying amounts of assets and liabilities that are not readily apparent from
other sources. 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 estimate is revised and in any future periods affected.
Critical assumptions used and accounting estimates in applying accounting policies are described below:
Impairment of held-to-maturity investments
Allowance for impairment loss on held-to-maturity investments is based on an evaluation of the recoverability of such investments. A
considerable amount of judgement is required in assessing the recoverable amount which is based on the present value of estimated future
cash flows, discounted at the original effective interest rate.
2(b)New accounting standards and interpretations
Adoption of new or revised accounting standards and interpretations
On 1 January 2012, the Fund adopted the new or revised FRSs and Interpretations to FRSs (“’INT FRSs”) that are effective for financial years
beginning on or after 1 January 2012.
ReferenceDescription
FRS 12 FRS 107 Deferred Tax - Recovery of Underlying Assets
Disclosures - Transfers of Financial Assets
The adoption of these new/revised FRSs did not result in substantial changes to the Fund’s accounting policies nor any significant impact on
these financial statements.
66
notes to the
New or revised accounting standards and interpretations not yet effective
At the date of authorisation of these financial statements, the following FRSs were issued but not yet effective:
ReferenceDescription
Amendments to FRS 1
Presentation of Financial Statements
Revised FRS 19
Employee Benefits
Revised FRS 27
Separate Financial Statements
Revised FRS 28
Investments in Associates and Joint Ventures
Amendments to FRS 32
Financial Instruments: Presentation
Offsetting Financial Assets and Financial Liabilities
Disclosures - Offsetting Financial Assets and Financial Liabilities
FRS 110
Consolidated Financial Statements
FRS 110
Amendments to FRS 107: Disclosures - Offsetting of Financial Assets and Financial Liabilities
FRS 111
Joint Arrangements
FRS 112
Disclosure of Interests in Other Entities
FRS 113
Fair Value Measurement
The Trustees do not anticipate that the adoption of other FRSs and INT FRSs in future periods will have a material impact on the financial
statements of the Fund.
2(c)Summary of significant accounting policies
Financial assets
Financial assets can be divided into the following categories: financial assets at fair value through profit or loss, held-to-maturity investments,
loans and receivables and available-for-sale financial assets. Financial assets are assigned to the different categories by management on initial
recognition, depending on the purpose for which the investments were acquired. The designation of financial assets is re-evaluated and
classification may be changed at the reporting date with the exception that the designation of financial assets at fair value through profit or
loss is not revocable.
All financial assets are recognised on their trade date - the date on which the Fund commits to purchase or sell the asset. Financial assets are
initially recognised at fair value, plus directly attributable transaction costs except for financial assets at fair value through profit or loss, which
are recognised at fair value.
Derecognition of financial instruments occurs when the rights to receive cash flows from the investments expire or are transferred and
substantially all of the risks and rewards of ownership have been transferred. An assessment for impairment is undertaken at least at each
reporting date whether or not there is objective evidence that a financial asset or a group of financial assets is impaired.
Non-compounding interest and other cash flows resulting from holding financial assets are recognised in profit or loss when received,
regardless of how the related carrying amount of financial assets is measured.
67
notes to the
2(c)Summary of significant accounting policies (Cont’d)
Held-to-maturity investments
If the Fund has the positive intent and ability to hold debt securities to maturity, then such financial assets are classified as held to maturity.
Held-to-maturity financial assets are recognised initially at fair value plus any directly attributable transaction costs. Subsequent to initial
recognition held-to-maturity financial assets are measured at amortised cost using the effective interest method, less any impairment losses.
Any sale or reclassification of a more than insignificant amount of held-to-maturity investments not close to their maturity would result in the
reclassification of all held-to-maturity investments as available for sale, and prevent the Fund from classifying investment securities as held to
maturity for the current and the following two financial years.
At 31 December 2011, the Fund’s held-to-maturity financial assets comprised quoted bonds. At 31 December 2012, the Fund did not hold any
financial assets at fair value through profit or loss, held-to-maturity financial assets or available-for-sale financial assets.
Loans and receivables
Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. They
arise when the Fund provides money, goods or services directly to a debtor with no intention of trading the receivables. They are included in
current assets, except for maturities greater than 12 months after the reporting date which are classified as non-current assets.
Loans and receivables 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 provision for impairment. Any change in their
value is recognised in profit or loss. Any reversal shall not result in a carrying amount that exceeds what the amortised cost would have been
had any impairment loss not been recognised at the date the impairment is reversed. Any reversal is recognised in profit or loss.
Receivables are provided against when objective evidence is received that the Fund will not be able to collect all amounts due to it in
accordance with the original terms of the receivables. The amount of the write-down is determined as the difference between the asset’s
carrying amount and the present value of estimated future cash flows.
Loans and receivables comprise cash and cash equivalents.
Cash and cash equivalents comprise cash and bank balances.
Income taxes
The Fund a registered charity under the Charities Act, Chapter 37, is exempt from income tax.
Provisions
Provisions are recognised when there is a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow
of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the
obligation. Present obligations arising from onerous contracts are recognised as provisions. The Trustees review the provisions annually and
where in their opinion, the provision is inadequate or excessive, due adjustment is made.
Financial liabilities
The Fund’s financial liabilities comprise accruals.
Financial liabilities are recognised when the Fund becomes a party to the contractual agreements of the instrument. All interest-related
charges are recognised as an expense in “finance cost” in profit or loss. Financial liabilities are derecognised if the Fund’s obligations specified
in the contract expire or are discharged or cancelled.
Accruals are initially recognised at fair value, and subsequently measured at amortised cost, using the effective interest method.
Gains and losses are recognised in profit or loss when the liabilities are derecognised as well as through the amortisation process.
Related parties
For the purposes of these financial statements, parties are considered to be related to the Fund if the Fund has the ability, directly or indirectly,
to control the party or exercise significant influence over the party in making financial and operating decisions, or vice versa, or where the Fund
and the party are subject to common control or common significant influence. Related parties may be individuals or other entities
Revenue recognition
Interest income is recognised as it accrues, using the effective interest rate method.
68
notes to the
3Held-to-maturity investments
20122011
$$
Quoted bonds
-4.080% LTA bond (nominal amount - $360,000)
-317,876
-4.826% JTC bond (nominal amount - $500,000)
-454,464
-772,340
Held-to-maturity investments were redeemed upon maturity during the financial year ended 31 December 2012.
4Cash and cash equivalents
20122011
$$
Fixed deposits
839,362477,597
Bank balance
601,29774,776
1,440,659552,373
The weighted average effective interest rate on fixed deposits is 0.165% (2011 - 0.175%) per annum.
Cash and cash equivalents are denominated in Singapore dollars.
5Surplus before taxation
The Fund had no employees during the financial years ended 31 December 2012 and 2011. All manpower requirements were provided by the
Eurasian Association without a charge.
6Taxation
The Fund is a registered charity under the Charities Act, Chapter 37. No provision for tax has been made in the financial statements as the
Fund is exempt from income tax.
7Financial risk management
Financial risk management objectives and policies
The Trustees has overall responsibility for the establishment and oversight of the Fund’s risk management framework.
The Fund does not hold or issue derivative financial instruments for trading purposes or to hedge against fluctuations, if any, in interest rates
and foreign exchange.
7.1Credit risk
Credit risk refers to the risk that counterparties may default on their contractual obligations resulting in financial loss to the Fund.
At 31 December 2011, the Fund’s exposure to credit risk arose primarily from its held-to-maturity investments. Held-to-maturity
investments were redeemed upon maturity during the financial year ended 31 December 2012.
Cash balances and fixed deposits are placed with reputable financial institutions which are regulated.
7.2Market risk
Market risk is the risk that changes in interest rates, foreign exchange rates and market prices will have on the Fund’s income or the
value of its holdings of financial instruments.
Interest rate risk
The Fund’s exposure to changes in interest rates relates primarily to its variable rate fixed deposits.
For fixed deposits at variable rates, an increase of 50 basis points in interest rate at the reporting date would increase surplus before
tax and accumulated fund by approximately $4,200 (2011: $2,400). A decrease of 50 basis points in interest rate would have an equal
but opposite effect. This analysis has not taken into account the associated tax effect and assumes that all other variables, in particular
foreign currency rates, remain constant.
69
notes to the
7Financial risk management (Cont’d)
Foreign currency risk
The Fund is not exposed to foreign currency risk as all of its financial assets and liabilities are denominated in Singapore dollars.
Market price risk
Market price risk is the risk that the fair value or future cash flows of the Fund’s financial instruments will fluctuate because of changes
in market prices.
The Fund is not exposed to any movement in price risk as it does not hold any quoted or marketable financial instruments.
7.3Liquidity risk
The Fund maintains sufficient level of cash and cash equivalents to finance the Fund’s operations and mitigate the effects of fluctuation
in cash flows.
The table below analyses the maturity profile of the Fund’s financial liabilities based on contractual undiscounted cash flows.
Contractual undiscounted cash flows
Carrying
Less than
Between 2
Over
amount
Total
1 year
and 5 years
5 years
$$$$
$
At 31 December 2012
Accruals
4,8004,8004,800 -
4,8004,8004,800 -
At 31 December 2011
Accruals
4,5004,5004,500
- 4,5004,5004,500
- 8 Fair values
The notional amounts of financial assets and liabilities with a maturity of less than one year (including cash, cash equivalents, and accruals)
approximate their fair values because of the short period to maturity.
9Funds management policy
The Trustees’ objectives when managing funds are:
(a)
To safeguard the Fund’s ability to continue as going concerns; and
(b)
To provide capital for the purpose of providing welfare and financial assistance to the poor and needy among the Eurasian community.
The Trustees actively and regularly reviews and manages its funds structure to ensure optimal capital structure, taking into consideration the
future requirements, prevailing and projected profitability and projected operating cash flows.
The Trustees monitors funds using the annual-operating-expenditure-to-accumulated-fund ratio.
20122011
$$
Annual operating expenditure (A)
5,2934,900
Accumulated fund (B)
1,435,8591,320,213
Annual-operating-expenditure-to-accumulated-fund ratio (times) (A)/(B)
0.37%0.37%
The Fund is not subject to externally imposed capital requirements. The Fund’s fund management policy remains unchanged from 2011.
70
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euRASiAn
ASSociAtion,
SingApoRe
Eurasian Community HousE
139 Ceylon Road Singapore 429744
tel: 6447 1578
Fax: 6447 3189
www.eurasians.org

the PDF version

Transcription

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