Chairman’s Message

Change is necessary. Our ethos has never been to merely survive. Our resolve is to always move forward, innovate and grow. The best way to do that is to be the master of our own destiny. We want to define our own change. We want to chart our future.

Mr Tan Soo Jin

SIM Governing Council

Defining New Paths for Relevance and Growth

Life isn’t about finding yourself. Life is about creating yourself.

- George Bernard Shaw

Change is necessary. Our ethos has never been to merely survive. Our resolve is to always move forward, innovate and grow. The best way to do that is to be the master of our own destiny. We want to define our own change. We want to chart our future.

Not many organisations can last for 50 years. We did because our milestones had been about chartering new paths in every era of change. We’ve continually reinvented ourselves to find new roles of relevance and stay ahead of the game.

The current time is no exception. For the past few years, we have felt the impact of changes brought about by increasing competition in the education industry and shrinking cohort sizes. In spite of this, we managed to achieve satisfactory growth for several years running. In 2016, we achieved a revenue growth of 6% to $338m, although our surplus slid 17% to $48m, due to rising costs and investments in new growth areas.

2016 was a defining year for SIM - an inflection point for several important changes to come.

New autonomous university for Singapore

One such change is the restructuring of SIM University (UniSIM) to become a government-funded Autonomous University (AU). The education minister had announced this in October and on 10 November, members of SIM voted at an extraordinary general meeting to support the government’s proposal.

Although it is with a sense of sadness to have UniSIM leave the SIM Group, we are very proud to have raised an institution that is poised to take its rightful place in the higher education landscape with the other AUs. This new AU will play a unique role in social services and development, and as the third law school specialising in family and community law, areas much in need of trained professionals as Singapore matures as a society.

UniSIM will be renamed and its new status will officially be announced after the passing of a bill in parliament in the middle of 2017. It will continue to share the SIM Clementi premises and tap on our support services until it develop its own campus and systems.

New impetus to lifelong learning

The leaving of UniSIM from the SIM Group coincides with our need to review our raison d’etre against the backdrop of a fast changing landscape driven by rapid technological advancements and a shift from mere paper chase to skills mastery. These have great impact on the types of education and training offered and the way they are to be delivered and consumed,

Our responsibility is always to Singapore first; our vision to encourage lifelong learning among all Singaporeans. To support the national SkillsFuture initiative, we have given new impetus to expand and improve our range of continuing education programmes. We will continue to sharpen the differentiation and effectiveness of our programmes in bringing about greater skills acquisition and employability for learners, and greater productivity and industry transformation for organisations.

New entrepreneurship centre

We are also investing to support two key economic - innovation and a thriving SME sector – that will drive our future economy. The $50m SIM AEC Pte Ltd (SIM Applied Entrepreneurship Centre) has been set up to nurture a new breed of entrepreneurs, help small businesses scale up and invest in new start-ups.

The first initiative launched by SIM AEC was an entrepreneurship ecosystem, Platform E, in December. Platform E is unique in that it marries training, incubation and acceleration. It has a strong focus on nurturing the competencies and fortitude of the entrepreneur for long-term sustainability. It is a community of entrepreneurs, learning coaches, mentors, business advisors and investors supported by a 25,000 square-feet co-working space at Management House. It will start its entrepreneurship tracks with the first cohorts in April 2017.

New educational pathways beyond Singapore

The Singapore brand of education is highly respected. SIM is well reputed for its rigorous standards and professionalism. These are assets in our favour as we expand our market and further the reach of our mission beyond Singapore. The demand for good quality education among emerging markets in the region is high but there is a need for programmes with a strong slant on Asian values and which offer a seamless pathway from lower to higher education.

In Singapore, we’ve launched the SIM International Academy to offer secondary school education with boarding to foreign students. These students will be able to experience quality education in the advanced Asian context of Singapore, and eventually articulate into higher education at SIM.

We will also be bringing our brand of education to students in their home countries. This will be done through the setting up of the Singapore International Academy in the coming year. The first of this venture will be in Cambodia where we will offer programmes from kindergarten to secondary level.

New pact to grow together

To achieve what we set out to achieve for our learners and ourselves, we need everyone to be fully on board with us – our faculty and associate lecturers, partners, management and staff – in a new partnership to take on the future.

Together we must all stay adaptable and agile in the new environment. We will require new ideas and new ways of doing in order to help our learners keep up-to-date and relevant to the real world.

Change can be uncomfortable. But if together we muster the will and courage, the future is ours to own and craft.

I am confident and positive that SIM can rise to the occasion again and I look forward to working alongside everyone to define the future of exciting possibilities.

Mr Tan Soo Jin

SIM Governing Council

Management Report

Professor Cheong Hee Kiat

SIM University

A significant milestone of the year was the decision to restructure UniSIM into an Autonomous University (AU). This is a great honour and testament to our stewardship of the university. We are proud to be given this opportunity to contribute to the national higher education sector. The setting up of Singapore’s third Law School at UniSIM with the offering of the Bachelor of Laws (LLB) and Juris Doctor programmes that will be part of the new AU progressed well. Our inaugural intake was more than six times oversubscribed.

Last year, our application and intake numbers remained healthy despite an increasingly competitive market. Our total student enrolment stood at 13,900 with the full-time programmes doubling to 890. Our new full-time programmes in Supply Chain Management and Social Work have generated great interest.

Supporting the Skills Future movement, we increased the number of courses we offer under our Centre for Continuing and Professional Education. These courses focus on skills acquisition and applied lifelong learning. In addition, they help dislocated PME’s get re-employed. The increased number of organisations seeking to partner us on this initiative is an encouraging sign that employers support lifelong learning for continued relevance and competitiveness.

There has been a disaggregation of the higher education value chain due to the heightened competition from online learning opportunities from all over the world. We, too, stepped up our online learning implementation. We have improved our iStudyGuides and migrated to a new learning management system, Canvas, to provide students with a more engaging and immersive learning experience.

Our key focus in 2017 will be the smooth transitioning of UniSIM into an AU. This will involve reorganisation of resources to take on this new role effectively. We will also invest in strengthening our new brand as an AU.

We will ramp up manpower capability through new hires and development of existing staff, as well as review our systems and processes. Institutional research and data analytics will be tapped to enhance both our operations and teaching outcomes.

Learners who have to travel can expect new pathways to learning and better overseas access to programmes. Tapping on our expertise, we will also be able to support SMEs and companies with overseas operations in their training needs.

As we define our new role for the future, we remain committed to our society and social development. We will develop programmes that support this and strengthen industry and social engagement while at the same time delivering our promise to help every learner reach his full potential.


Dr Lee Kwok Cheong

Chief Executive Officer
SIM Global Education

The education industry continued to feel the pressure of increased competition and decreasing cohort sizes. Despite that, we are pleased to report that SIM Global Education performed better than we expected and that our applications and enrolments remained steady. We maintained our leading position as the top private education provider.

Our good performance was due in no small part to the strong programmes of our partner universities and our shared goal of ensuring the best outcome for our students. It was also a result of our focus on student development, investment in our academic and non-academic staff, and our agility in proactively responding to market changes with new and relevant programmes.

These efforts have borne out well: our students continued to perform well inside and outside the classroom. The number of our University of London (UOL) students – 191 of them - who were awarded first class honours remained as the highest in the world for UOL International Programmes. In our latest graduate employment survey, our graduates enjoyed good employment opportunities with an overall employment rate of 86%, significantly above the private education average.

In the coming year, we will continue to invest in these areas to further enhance our graduates’ work-readiness and employability, not just in Singapore but in the global arena.

In expanding our footprint beyond the small Singapore market, we have started to offer more education pathways for foreign students, both to bring them in for study in Singapore as well as in their home countries. To achieve this, we’ve assembled a strong team of educators to develop high school programmes focusing on foreign students locally and internationally.

We established the SIM International Academy, which will offer the IGCSE education with an Asian focus here in Singapore. Our value proposition leverages the strong Singapore and SIM brands of education and offers a pathway for secondary students to articulate seamlessly into higher education at SIM. The high school will accept its first cohort of students in September 2017.

We will also tap the growing demand for quality education from the emerging economies of our region through the setting up of overseas operations in countries of great potential. The first venture will be an international school catering to students from kindergarten to year 12 in Cambodia, again providing a high quality, seamless educational pathway. Plans are underway and will pick up momentum in the new year.

Leveraging the experience and the expertise of our partners, we will develop a range of executive continuing education programmes with a strong focus on practical competencies and applications to the workplace. These programmes are aimed at upgrading learners’ job-relevant skills and employability, and helping organisations achieve productivity and competitive transformation.


Mr Ronald Tan Hee Huan

Executive Director
Singapore Institute of Management

Our signature programmes, the Singapore Management Festival (SMF) and the Job of the Chief Executive (JOCE), continued to be important platforms for business and management leaders to share insights with companies and executives. The SMF, in its second year, gained traction with strong support from both participants and event sponsors. The JOCE was supported by IE Singapore under SkillsFuture, an added impetus to encourage even chief executives to give priority to lifelong learning.

With an uncertain and sluggish economy, demand for short, public executive programmes was soft. Businesses, particularly SMEs, tended to de-emphasise learning and development as they instead focused on immediate business and operational priorities to ride through the market slowdown.

As a result, Professional Development’s performance trended slightly below target. On the other hand, we were able to secure new corporate accounts for in-company training, and the request for customised in-company learning solutions kept pace with the previous years.

Despite the softening demand in public programmes, we continued to consolidate, enhance and align our offerings as total learning solutions that deliver holistic learning and greater impact on personal and organisational performance.

Our Membership unit remained focused on deepening relationships with existing corporate members who continued to be our biggest supporters of executive training. Standalone training activities and learning platforms were curated and packaged with value-added services such as digital resources to help companies keep pace with emerging trends and fast changing business needs.

With a growing need for skills in the social services sector, our entry into this sector has shown potential for growth in scope and scale. Efforts to help SMEs leverage the Productivity and Innovation Credit scheme and alternative funding such as IE Singapore Study Awards were continued.

The economic outlook for 2017 will continue to be challenging. SMEs in particular, will remain cautious with investment in training. There is also a greater emphasis on skills and performance-based training. We will continue to calibrate and fine-tune our offerings, build in-house capability to better curate and offer holistic learning solutions and ensure speed to market with new offerings.

Internally, tighter coordination and more collaborative work processes across operating units will also bring about more synergy, better resource mobilisation and efficiency. We will continue to leverage business intelligence and analytics for better market analyses that inform development of offerings with greater value.

The future demands new and better ways to deliver our value proposition. We remain focused on being a strategic partner to the development of individuals and organisations, and stand ready to meet this challenge with purpose and vigour.


2016 Key Statistics

Group1 Institute1
Income 337,464 318,679 4 121,265 97,854 5
Expenditure 289,645 261,409 81,948 68,217
Excess of income over expenditure 47,819 57,270 39,317 29,637
Capital Expenditure 9,993 13,912 5,640 11,592
Reserve Level3 1.7 years 1.5 years 2.6 years 1.4 years

1 Group comprises Singapore Institute of Management, Singapore Institute of Management Holdings Pte Ltd, Singapore Institute of Management Pte Ltd, Singapore International Academy Pte Ltd, SIM Xtension Pte Ltd, SIM AEC Pte Ltd and SIM University. Institute refers to Singapore Institute of Management.

2 For the year ended on 31 December.

3 Computed based on the formula: bank balances/ total annual expenditure including capital expenditure. SIM Group will target to maintain a reserve level of one year taking into consideration its future income streams and future operating and capital expenditure.

4 Other losses (gains) of $23,188 has been reclassified to the Expenditure section of the Statement of Comprehensive Income.

5 Other losses (gains) of $15,367 has been reclassified to the Expenditure section of the Statement of Comprehensive Income.

$338 million

in revenue

6% growth



36,884 individual members

481 corporate members

Students Enrolled


13,900 students enrolled
Over 60 programmes offered


20,000 students enrolled
Over 80 programmes offered

Professionals Trained

Close to 630 public and customised in-company executive programmes organised



27,800 alumni


142,000 alumni

2016 at a Glance


SIM GE collaborated with Maybank Kim Eng Securities to enhance students’ career readiness


UniSIM School of Law launched applications for inaugural 2017 intake

UniSIM set up the Wings Scholarship and Award Endowment Fund for students in its Human Development and Social Services programmes


UniSIM launched Conversation Starters series with National Library, Singapore on subjects critical to the survival of Singapore

SIM GE and University of Stirling launched sports scholarship for local athletes


SIM GE celebrated 30 years of partnership with the University of London

SIM GE and University of London signed an MOU to set up the University of London-SIM Global Education Regional Centre


SIM GE collaborated with Institute of Chartered Accountants in England and Wales to enhance students’ career readiness


Commencement of the following programmes at SIM GE: University of London Master of Science in Professional Accountancy; University of Warwick Postgraduate Award and Master of Science in Programme and Project Management; and RMIT University Bachelor of Applied Science (Construction Management) (Honours)


UniSIM, together with the autonomous universities, hosted the ASEAN University Games


SIM GE Dragonboat women’s team clinched its third consecutive Prime Minister’s Challenge Trophy at the Singapore Dragonboat Festival


UniSIM launched the full-time Supply Chain Management and Social Work programmes

Commencement of programme at SIM GE: University of Stirling Bachelor of Arts (Honours) in Sports Studies and Marketing

UniSIM set up the Institutional Research and Analytics Unit


SIM PD organised and presented its signature event – Singapore Management Festival

Commencement of the following programmes at SIM GE: University of London Certificate of Higher Education in Social Sciences; and Graduate Diplomas in International Relations, Accounting, Banking, Economics, Finance, Information Systems and Management


Ministry of Education announced its proposal for UniSIM to become Singapore’s sixth autonomous university

UniSIM held the inaugural International Conference on Well-being


UniSIM presented with the Best Facilities Management Training Institution of the Year Award for its commitment to student development in this area

SIM GE and University of Birmingham launched the Foundation in Social Sciences, Business and Law programme


SIM GE organised the inaugural TEDxSIM conference

SIM GE received the National Integration Council (NIC) Outstanding Community Integration Fund Project Award for its effort to foster social integration between locals and non-locals


UniSIM collaborated with the National Trades Union Congress and the Employment and Employability Institute to deepen the competencies of the Singapore labour force


SIM launched the SIM International Academy

SIM launched the SIM Applied Entrepreneurship Centre