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Singapore International Chamber of Commerce

The Singapore International Chamber of Commerce (SICC) was founded in 1837. It was established to defend the interests of Singapore businessmen against an unsupportive East India Company administration. Since then, the SICC has evolved into a multinational organisation with a membership of almost one thousand, and a diverse range of activities that help support the lifeblood of Singapore's commerce. It is the oldest chamber of commerce in Asia, and the oldest commercial organisation in Singapore.

During its long and eventful history, the SICC has been a vigorous participant in the commercial life of Singapore and the affairs of the community generally. Its activities range from liasing between the business sector and the Singapore government, to the provision of arbitration services, advising on legislation, trade and investment counselling and the certification of shipping documents. Its acceptance by the Singapore government as representing the multinational investment interests in the country means that the Chamber is regularly consulted by the government in key areas, especially those that have a bearing on the interests of the private sector. It also has many members on numerous government advisory committees and statutory boards. Its Board of Directors is regularly comprised of leading and influential persons in the business community.

The SICC is unique in the local context: membership is open to all companies and individuals who have business interests in Singapore, regardless of race or nationality. As such, SICC's membership encompasses business units from large multinational corporations with operations in Singapore, to small locally owned business enterprises. There are currently almost a thousand members, with over 40 nationalities represented in SICC's membership. Singapore, American, Japanese and British companies form the largest representation. Traditionally, British companies formed the largest membership group, but since October 1985 Singaporean firms have overtaken them, constituting some 35 % the Chamber's total membership.

All of Singapore's government-linked companies (GLCs) are members of the SICC, joining the Chamber during the 1990s. These include the Development Bank of Singapore, PSA Corporation, Keppel Corporation, Singapore Power, Singapore Telecommunications, Singapore Airlines, Temasek Holdings, and Singapore Technologies. Several of Singapore's best-known family firms, as well as a wide cross section of smaller companies, are also members.
The SICC has always provided a respective and effective voice for the business community in Singapore. Up until the end of the nineteenth century it was a voice of the "unofficial" opposition to the government. Since WWII, the SICC has taken a more conciliatory and cooperative approach towards the government. Now the SICC constantly monitors and speaks up on issues or developments of concern for its members. Diverse issues that affect the private sector are regularly raised for clarification and possible remedial action by the authorities. In this way, the SICC continues its "watchdog" role and as well as acts as a catalyst for the improvement of business enterprise in Singapore.



Author
Daniel Goh Toh Hooi, 2001



References
MacLean, R. (2000). A pattern of change: The Singapore International Chamber of Commerce from 1837. Singapore: Singapore International Chamber of Commerce.
(Call no.: RSING 380.10605957 MAC)

Singapore International Chamber of Commerce. (n.d.). SICC Main Page. Retrieved October 28, 2003, from www.sicc.com.sg/ 

The information in this article is valid as at 2001 and correct as far as we are able to ascertain from our sources. It is not intended to be an exhaustive or complete history of the subject. Please contact the Library for further reading materials on the topic.

Subject
Politics and Government
Commerce and Industry
Associations, institutions, etc.--Singapore
Commercial associations--Singapore
Boards of trade--Singapore
Business, finance and industry>>Business organization
Law and government>>Trade (Commerce)



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