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ANNUAL REPORT

2015/2016
CONTENTS

02 04 06 10
Vision, Mission Board of Message from Organisation
& Values Governors Chairman & PCEO Chart

11 12 13 15
Committees Senate Senior Advisory
Management Committees

19 22 37 52
Student Intake Highlights Focus on Industry Lifelong
& Enrolment Learning
AY2015/16

58 62
NYP Education Financial
Fund Statements

ANNUAL REPORT 2015/16 01


VISION, MISSION
& VALUES

OUR VISION
To be a Premier Polytechnic of Global Distinction.

OUR MISSION
We provide quality education and training to prepare
students and adult learners for work and life, equipping
them to be lifelong learners and to contribute to the
technological, economic and social development
of Singapore.

We will harness our resources, expertise, creativity


and innovation to support the development of
business and industry and to complement
Singapores globalisation efforts.

OUR VALUES
Can-Do Spirit
A positive mindset, grasping opportunities, a willingness
to try something new and rising to new challenges.

Borderless Teamwork
Working seamlessly across schools and departments to
achieve synergy and maximise organisational capability.

Development Orientation
Dynamism, growth and a pioneering spirit. Always
looking ahead and planning for the future.

Innovation and Enterprise


Inventive, creative and creating new opportunities.
Being entrepreneurial, business-oriented and
business-friendly.

Nurturing and Caring Culture


Commitment to help our students develop new skills
and maximise their potential. Support for our colleagues
in their work to encourage their growth and success in
their careers at NYP.

02 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 03


BOARD OF
GOVERNORS

CHAIRMAN DEPUTY CHAIRMAN

MR TAN TONG HAI MS JESSICA TAN MR CHAN LEE MUN MS JEANNE LIEW DR GAETAN ANGOH MR CHIANG HOI KEONG
Chief Executive Officer & Managing Director Principal & CEO Principal & CEO Principal Consultant
Executive Director Microsoft Operations Pte Ltd Nanyang Polytechnic Nanyang Polytechnic Hans Klaus Consultants
StarHub Ltd (up to 30 June 2015) (from 1 July 2015)

MR QUEK GIM PEW PROF LIM MONG KING MR FREDDIE YEO RADM FREDERICK MR MOHAMED AMRIN MR LEE PAK SING
Chief Executive Officer
DSO National Laboratories
Professor
School of Mechanical &
Chief Operating Officer
Infinite Studios CHEW CHIH CHIANG
Commander
BIN MOHAMED AMIN
Parliamentary Secretary
Director
International Directorate
Aerospace Engineering Ministry of Finance
Nanyang Technological University Maritime Security Task Force Ministry of Home Affairs
Republic of Singapore Navy

MR LIM SIM SENG DR NG CHER SIANG MS PHUA PUAY LI MR SNG CHERN WEI MR TAY YONG SENG
Group Executive & Managing Director Director Director Partner
Singapore Country Head Gardenia Foods (Singapore) Pte Ltd Manpower Planning & Strategy Curriculum Planning & Allen & Gledhill LLP
DBS Bank Ministry of Health Development Division 1
Ministry of Education

04 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 05


MESSAGE FROM CHAIRMAN
AND PRINCIPAL & CEO

F
Y2015/16 has been another ahead to collaborate with Ubisoft as they reach milestones in the framework. classes, catch up with friends or unwind
fulfilling year for Nanyang Singapore and InterContinental Hotels NYP hopes to inculcate key values and after a long day, adding to the vibrancy
Polytechnic (NYP). We continued Group in October 2015 to provide EIPs important life skills in students as they hone and diversity of campus life. Separately,
to make good progress in delivering in the games and hotel industries. In their expertise in their areas of interest. we are in the process of setting up
on our mission of providing quality early 2016, two more biopharmaceutical MakerSpace@NYP a brand-new
education and training to prepare companies Baxalta and Lonza Biologics NYP has also revamped the General facility where students can unleash their
our students and adult learners for joined NYPs list of EIP providers. Studies Module (GSM) framework, imagination to design and create things.
the world of work and life. We have expanding the number of modules
also done well in accomplishing our NYPs SkillsFuture Earn and Learn and, from April 2016, students will be ACHIEVEMENTS
goals of supporting the industry Programmes (ELPs) also got off to a required to take modules outside of their Our schools continue to promote the
and complementing Singapores good start with the launch of five such disciplines. All Year 1 students now need values of innovation and enterprise
globalisation efforts. programmes in culinary management, to take three compulsory GSMs in fitness, through the curricula as well as activities
retail, games development and career guidance, and personal and beyond the classroom. These efforts
Having maintained close links with the information systems development last character development, while Year 2 and have borne fruit as demonstrated by the
Economic Development Board since year. Plans are underway to expand Year 3 students will broaden their general many accolades our students have won
its inception, NYP is well-positioned ELPs into disciplines such as visual knowledge in other fields by taking GSMs throughout the year at both national and
to support the national SkillsFuture communication, healthcare, precision from other schools in NYP. international levels.
movement. We have played an active engineering and biomedical sciences over
role in supporting new SkillsFuture the next two years. As part of our campus expansion project, Three final year students from the
initiatives over the past year to not only we have introduced new real-world Diploma in Banking & Financial Services
help our students make informed In the year under review, we admitted teaching facilities and upgraded existing made history as the first Singaporean
learning and career choices, but also 4,959 students into 51 full-time diploma ones. For instance, we partnered team to emerge world champions in the
support Singaporeans in their lifelong courses, bringing our total full-time StarHub and Planet Telecoms to set up CME Groups 2016 Trading Challenge,
learning journeys. Pre-employment Education and Training Connecton, an info-communications beating more than 500 teams from 200
enrolment to 15,842. In March 2016, lifestyle store, on 23 June 2015. Together universities around the world.
NYP opened its new Education and 5,164 students graduated from their with the expanded and revamped
Career Guidance (ECG) Centre in October full-time studies, bringing the total number Cheers and DStudio retail stores, these At WorldSkills So Paulo 2015, NYP
2015. Run by six counsellors, the ECG of diploma graduates at NYP to 82,965 student-run enterprises offer students the students won a silver medal, a bronze and
Centre assists students in creating since our inception. Last year, 90.7 per opportunity to undergo realistic, relevant six Medallions of Excellence, while over
connections between their academic cent of NYP graduates found employment and industry-based retail training in a in Amsterdam, a group of students from
experiences and future career paths. within six months of graduation, with an real-world environment. the School of Chemical & Life Sciences
We have also done the ground work to average starting salary of about S$2,300. surpassed big names in the F&B industry
introduce ECG modules in our curricula In-depth hands-on training for students such as Unilever to clinch the Best Dairy
starting with Year 1 students in the new ENRICHING STUDENT EXPERIENCE to hone relevant skills is also the focus Dessert Award at the 2015 World Dairy
academic year in 2016. During the year, we reviewed existing at the new BodyWatch Gym, Media Hub Innovation Awards Competition.
initiatives and introduced new ones and Media Studio, all of which feature
We have attained positive outcomes in to ensure holistic development for industry-standard and state-of-the-art Closer to home, School of Engineering
the Enhanced Internship Programmes NYP students. equipment such as integrated students bagged a total of 10 medals at
(EIPs) with GlaxoSmithKline Biologicals multi-station fitness apparatus and the Singapore Robotics Games 2015 the
and Novartis Singapore Pharmaceutical We have put in place a comprehensive enhanced broadcast studio equipment. largest medal haul among all participating
Manufacturing. Seventy per cent of Student Development framework that Meanwhile, to enhance our students job institutions. We are also proud to have
NYP students who completed EIPs is consistently applied across the readiness and instil a proactive mindset been the only polytechnic tasked to
with these two leading pharmaceutical Polytechnic. This framework aims to even before they join the workforce, produce multimedia special effects and
companies and were not heading Engage, Enable and Empower students we collaborated with the Singapore videos for the SG50 National Day Parade
for national service, were offered through key activities and development Workforce Development Agency to (NDP). A team of talented students from
employment before graduation. and training programmes for each of the establish the Productivity Training Centre. the Schools of Business Management
key pillars in our CCAs Arts & Culture, and Interactive & Digital Media, mentored
This achievement was followed by the Community Service, Sports & Adventure, A new, dedicated Lifestyle Hub was also by their lecturers, came together to
establishment of 50 more partnerships and Leadership & Character. This is to completed during the year. This is where showcase beautiful visual effects and
with companies to offer EIPs. We moved systematically build on their prior learning students go to relax and have fun between three videos created for NDP 2015.

06 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 07


MESSAGE FROM CHAIRMAN
AND PRINCIPAL & CEO
Separately, one of our students from the Innovation & Enterprise (RIE) projects to nearly half of our final year students
School of Design impressed UNIQLO identify solutions for real-world problems. participated in overseas industrial
Singapore with her final year project titled In FY2015/16, our portfolio of RIE projects placements, internships, student
50 Types of Singaporeans, and as part continued to expand, and 16 such projects exchange programmes, educational trips,
of the UNIQLO Street Tales initiative, involving a total of 303 students competitions and community service
T-shirts featuring her designs were on successfully secured grants from various initiatives. They gained meaningful
sale from August to October 2015. Her funding sources. The funding sources international exposure, adapting to
designs also won the 2015 Crowbar Silver include the MOE Translational R&D and cross-cultural differences while learning
Award (SG50 category) presented by the Innovation Fund, MOE Tertiary Education from and sharing ideas with their peers.
Association of Accredited Advertising Research Fund, GeoFund from Singapore
Agents Singapore. Land Authority, and the Social Innovation Through NYP International (NYPi), we
Research Fund from Tote Board. We also took NYPs brand of education beyond
CONTINUING EDUCATION & TRAINING filed eight new patents and entered into Singapores shores. Eighty training
In Continuing Education & Training (CET), seven new licensing agreements for courses and study visits were organised
NYP further enhanced its programmes in-house technologies and innovations. for 1,693 participants from countries such
that aim to upgrade and retrain as Bangladesh, China, Indonesia, the
Singapores workforce. As part of efforts to promote an Philippines, Sri Lanka and Thailand. NYPi
entrepreneurial spirit, NYP also hosted visits for 417 visitors from
In the past year, NYP conducted 860 CET Entrepreneurship Start-ups or NEST 13 countries who were keen on learning
course runs that delivered 26,116 training was established in September 2014, about our polytechnic and Singapores
places in total. These included 77 course providing hot-desking space on campus education system.
runs that led to polytechnic qualifications, to student and alumni start-ups at no
89 short courses and 23 seminars, as charge. We are pleased to report that APPRECIATION
well as 671 Workforce Skills Qualification 38 students and 23 alumni have thus far We take this opportunity to pay tribute
courses under our Academy of Lifelong registered to use NEST. to our former Principal and Chief
Learning & Skills, the Singapore Institute Executive Officer Mr Chan Lee Mun,
of Retail Studies, and the Asian Culinary At NYPs Centre of Innovation Electronics who stepped down on 30 June 2015
Institute (ACI) Singapore. (COIE), the Internet of Things Open after 23 years of illustrious service
Innovation Community (IOIC) was launched to NYP. Mr Chan was part of the
Our newly established ACI also signed a in December 2015 to provide support for pioneering team that helped to set up
memorandum of understanding with the local enterprises to develop new business NYP in 1992 and played an integral role
Restaurant Association of Singapore to innovations. Supported by SPRING in the development of this institution in CHAIRMAN
provide relevant training and development
programmes for professional and aspiring
Singapore and Infocomm Development
Authority of Singapore, the IOIC is an open
the years since. Under his leadership,
NYP broke new ground on many
MR TAN TONG HAI
Chief Executive Officer &
chefs. As the anchor training provider for innovation network that aims to surmount occasions and introduced a multitude
Executive Director
the F&B services industry, ACI will help the many business challenges that SMEs of initiatives and programmes to StarHub Ltd
build a pipeline of local chefs who will face. Through the IOIC, SMEs can connect strengthen both teaching and learning
specialise in Asian cuisines, strengthen with ecosystem players, technology processes at NYP. We sincerely thank
continual professional development partners, research and knowledge Mr Chan for his tireless efforts and
for existing employees, and facilitate institutions, and relevant industry catalysts invaluable contributions to NYP.
innovation and productivity enhancement to explore, experiment and collaborate.
through R&D. We would also like to thank the
INTERNATIONALISATION members of our Board of Governors
INNOVATION & ENTERPRISE The year has been equally busy on the and Advisory Committees for their wise
As industry trends continually shift and international front as we continued to counsel, as well as our industry partners
new technology rapidly develops, it is grow our network in 27 countries and and donors for their generous support.
important for NYP staff and students to entered into new collaborations with Finally, our appreciation goes out to all
PRINCIPAL & CEO
keep abreast of the changes and stay partners from Switzerland, the UK, the NYP staff who have driven our continued
relevant. One of the ways we have been
able to do so is by working on Research,
US, South Korea and Thailand, amongst
others. Over the past 12 months,
growth and development with dedication
and hard work.
MS JEANNE LIEW
Nanyang Polytechnic

08 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 09


ORGANISATION COMMITTEES
CHART
BOARD OF ADMINISTRATION INVESTMENT AUDIT NYP EDUCATION
COMMITTEE COMMITTEE COMMITTEE FUND
GOVERNORS CHAIRMAN CHAIRMAN CHAIRMAN MANAGEMENT
MR TAN TONG HAI MR LIM SIM SENG DR GAETAN ANGOH
Chief Executive Officer
& Executive Director
Group Executive &
Singapore Country Head MEMBERS
COMMITTEE
StarHub Ltd DBS Bank RADM FREDERICK CHEW CHAIRMAN
CHIH CHIANG MR CHAN LEE MUN
DEPUTY CHAIRMAN MEMBERS Commander Principal & CEO
MR CHIANG HOI KEONG MR TAY YONG SENG Maritime Security Task Force Nanyang Polytechnic
Principal Consultant Partner Republic of Singapore Navy (up to 30 June 2015)

PRINCIPAL & CEO Hans Klaus Consultants

MEMBERS
Allen & Gledhill LLP

MS PHUA PUAY LI

MR MOHAMED AMRIN BIN
MOHAMED AMIN
MS JEANNE LIEW
Principal & CEO
MR FREDDIE YEO Director Parliamentary Secretary Nanyang Polytechnic
Chief Operating Officer Manpower Planning & Strategy Ministry of Home Affairs (from 1 July 2015)
Infinite Studios Ministry of Health
MR LEE PAK SING DEPUTY CHAIRMAN
PROF LIM MONG KING MR CHAN LEE MUN Director MR SNG CHERN WEI
Professor Principal & CEO International Directorate Director
School of Mechanical & Nanyang Polytechnic Ministry of Finance Curriculum Planning &
Aerospace Engineering (up to 30 June 2015) Development Division 1
Nanyang Technological Ministry of Education
University MS JEANNE LIEW
Development Corporate Services Continuing Academic Schools Principal & CEO TREASURER
Planning & Human Resources Education & Training Development School of Business MR CHAN LEE MUN Nanyang Polytechnic MS SU KALLY
Principal & CEO Director, Finance
Development Purchasing & College of & Services Management
Nanyang Polytechnic
(from 1 July 2015)
Nanyang Polytechnic
International General Administration School of Chemical &
Continuing Education Registrars Office (up to 30 June 2015)
Development Life Sciences
Finance Professional Student & MEMBERS
Internal Audit Development Centre Graduate Services School of Design MS JEANNE LIEW MR CHAN YEW MENG
Singapore Institute Examinations Office School of Engineering Principal & CEO Deputy Principal (Academic)
Computer &
of Retail Studies Student Recruitment School of Nanyang Polytechnic Nanyang Polytechnic
Network Centre
Asian Culinary & Admissions Health Sciences (from 1 July 2015)
Estate Management Institute Singapore Foundation & MR THAMBYRAJAH T
Quality & School of Registrar
General Studies Information Technology
Planning Office Nanyang Polytechnic
Office for School of Interactive &
Communications & International Students
Outreach Digital Media
Student Affairs
i@Central
Library &
Information Services
Alumni Relations Office
Centre for Technology
Innovation &
Commercialisation
Centre for Professional
& Leadership
Development

10 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 11


SENATE SENIOR
MANAGEMENT
CHAIRMAN HEADS OF SCHOOL ELECTED MEMBERS SENIOR MANAGEMENT MS NG EK KOON
Director, Purchasing &
MS TEO PHAY HOON
Assistant Director
General Administration Outreach Programme
MR CHAN LEE MUN MR EDWARD HO MS LOH CHUU YI MR CHAN LEE MUN
Principal & CEO Deputy Principal (Development) Deputy Director (Business Informatics) Principal & CEO MR TEDDY ONG MS JAYANTHI GOPAL
(up to 30 June 2015) Senior Director, School of Engineering School of Information Technology (up to 30 June 2015) Director, Professional Development Centre Assistant Director, Communications

MS JEANNE LIEW MR HENRY HENG MR RICHARD KHAW MS JEANNE LIEW MR ANG ENG NAM MS CHRISTINE CHUA
Principal & CEO Deputy Principal Assistant Director (Food & Principal & CEO Director, Estates Management Assistant Director, Human Resources
(from 1 July 2015) (Organisational Excellence) Pharmaceutical Sciences) (from 1 July 2015)
Senior Director, School of School of Chemical & Life Sciences MR DANIEL WEE MS LINA CHONG
Business Management MR EDWARD HO Director, Library Assistant Director, Student Affairs
MS DORIS CHAN
SECRETARY & MR DENNIS ANG Assistant Director
Deputy Principal (Development)

MR CHAN YEW MENG


MR SANTOKH SINGH MR TERENCE ANG
APPOINTED MEMBER Director
School of Information Technology
(Continuing Education & Training)
School of Health Sciences (Nursing) Deputy Principal (Academic)
Senior Director, Centre for Professional
Director, Communications & Outreach

MS SU KALLY
Assistant Director (Facilities & Services)
Estates Management

MR THAMBYRAJAH T DR JOEL LEE MS SOO SIEW LEE & Leadership Development Director, Finance
Registrar Director
School of Chemical & Life Sciences
Assistant Director
School of Business Management MR HENRY HENG MS LAW CHIN CHOO SCHOOL OF BUSINESS
APPOINTED MEMBERS MS LAU CHENG MUN
Director
MR LOOH CHEE WAI
Manager
Deputy Principal
(Organisational Excellence)
Director, Computer & Network Centre

DR MATHEW LAU
MANAGEMENT
School of Health Sciences School of Engineering MR HO HOOI MIN Deputy Director MR HENRY HENG
MR CHAN YEW MENG (Allied Health) Senior Director, College of Professional Development Centre Senior Director
Deputy Principal (Academic) MR ANDREW LAM Continuing Education
Senior Director, Centre for MS BELLA TAN Manager MS SIM GEK CHEOK MS DENISE LEONG
Professional & Leadership Development Director School of Interactive & Digital Media MS JUDY TAN Deputy Director (Operations), Finance Deputy Director
School of Health Sciences (Nursing) Director, Human Resources
MR HO HOOI MIN MR KHAIRUL HUSSIN MR WEE AIK HWEE MS ESTHER HO
Senior Director, College of MR DANIEL TAN Assistant Manager MR CHIANG KAH KEE Deputy Director, Student Affairs Assistant Director
Continuing Education Director School of Design Director, Foundation &
School of Interactive & Digital Media General Studies MS GOH GEOK CHOO MS SHARON LHU
MR TEDDY ONG Deputy Director (Information Systems) Assistant Director
Director, Professional Development Centre MR LEE YOUN KAY MR CHER THON JIANG Computer & Network Centre
Director Director, Office for International MS SOO SIEW LEE
MR DANIEL WEE School of Design Students and i@Central MR CHAI KUEK HENG Assistant Director
Director, Library Deputy Registrar
MR THAMBYRAJAH T Registrars Office
MR CHIANG KAH KEE
Director, Foundation & General Studies
Registrar

MR CHUA GIM PENG


DR QUEK CHIN JOO SCHOOL OF CHEMICAL
MR TAN JEK MIN
Director, Asian Culinary Institute
Director, Student Affairs
Assistant Registrar
Registrars Office & LIFE SCIENCES
Singapore MR KOH SWEE GUAN MR DANIEL LIU DR JOEL LEE
Director (Projects), Deputy Principal Deputy Director Director
MS MEGAN ONG (Development)s Office Quality & Planning Office
Director, Singapore Institute of MR YOW KUM PANG
Retail Studies MR LAI POH HING MR JULIAS WIKARTA Deputy Director (Chemical)
Director, Quality & Planning Office Deputy Director
MR LAI POH HING Human Resources MR WONG POH SENG
Director, Quality & Planning Office DR VALDEW SINGH Assistant Director (Chemical)
Director, Centre for Technology MR YANG TIEN
Innovation & Commercialisation Deputy Director (MakerSpace@NYP), MR ANAND KRISHNASAMY
and Alumni Relations Office Deputy Principal (Development)s Office Assistant Director (Life Sciences)

12 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 13


SENIOR ADVISORY
MANAGEMENT COMMITTEES
MR RICHARD KHAW MRS SEAH-KHOO EE BOON MR NG CHENG HEE
Assistant Director SCHOOL OF HEALTH SINGAPORE INSTITUTE BUSINESS Senior Vice President Operations Manager
(Food & Pharmaceutical Sciences)
SCIENCES (NURSING) OF RETAIL STUDIES MANAGEMENT Human Resources & Communications
Resorts World at Sentosa Pte Ltd
Singapore Refining Company Pte Ltd

DR VICTOR WONG
SCHOOL OF DESIGN MS BELLA TAN
Director (Nursing)
MS MEGAN ONG
Director
CHAIRMAN
MR LIM SIM SENG
ASSOC PROF LOW BUEN SIN
Associate Dean, Executive Programmes
Cell Culture Group Leader
Manufacturing Science & Technology
MR LEE YOUN KAY Group Executive & & External Relations Lonza Biologics Tuas Pte Ltd
Director MS DORIS CHAN MS DIANE WEE Singapore Country Head Associate Professor of Banking & Finance
Assistant Director Assistant Director DBS Bank Nanyang Business School MR RONALD TAY
MR TAN KHEE SOON (Continuing Education & Training) Nanyang Technological University Business Owner
Deputy Director (Academic) DEPUTY CHAIRMAN Solaron Energy Enterprise
MS KOO MAY YEOK MR GERRY LEE KIAN HUP MR HENRY HENG
Assistant Director ASIAN CULINARY Deputy Chief Executive Officer Deputy Principal (Organisational MS LOW WAN JING
SCHOOL OF (Pre-Employment Training)
INSTITUTE SINGAPORE Singapore (Operations)
NTUC Fairprice Co-operative Limited
Excellence) & Senior Director
School of Business Management
Head, Petrochemicals
Economic Development Board

ENGINEERING SCHOOL OF MR TAN JEK MIN


Director
MEMBERS
MR ANTHONY ANG
Nanyang Polytechnic
ASSOC PROF LOH KAI CHEE
Associate Professor & Deputy Head
MR EDWARD HO
Senior Director INFORMATION Executive Director
ARA Asset Management (Fortune) Limited CHEMICAL (Research & External Relations)
Department of Chemical &

MS LIM SIEW ENG


Director, Centre of Innovation (Electronics)
TECHNOLOGY NYP INTERNATIONAL MR CEDRIC CHEW
Deputy Director
TECHNOLOGY Biomolecular Engineering
National University of Singapore

MR DENNIS ANG MR FOONG TZE FOON Business Operations CHAIRMAN DR JOEL LEE
MR LAM YOOK MING Director Chief Executive Officer Singapore Sports Institute DR GAETAN ANGOH Director
Deputy Director Sport Singapore School of Chemical & Life Sciences
(Robotics & Automation Systems) MS LOH CHUU YI MR DANILS CHIA MEMBERS Nanyang Polytechnic
Deputy Director (Business Informatics) Director (International Development) MR RICKY CHEW MR DANIEL NG JOO THEN
MR AUSTIN GOH Founder & Managing Director Senior Advisor MR YOW KUM PANG
Deputy Director (Special Projects) MR KELVIN NG MR ANTHONY WOON Fish & Co. Restaurants Pte Ltd Dorf Ketal Chemicals Pte Ltd Deputy Director (Chemical)
Deputy Director (Systems & Network) Director (Projects) School of Chemical & Life Sciences
DR CHOO KENG WAH International Development MR KOH CHENG CHUA MR GEORGE ROUTHIER Nanyang Polytechnic
Deputy Director (Bio-Electronics) MR MELVYN SUAN Managing Director & Head Managing Director
Assistant Director (Mobile Innovation) MR LIM CHOON GUAN Corporate Banking Singapore Pfizer Asia Pacific Pte Ltd
MR MICHAEL CHEONG
Deputy Director (InfoComm)
Director (Training & Planning)
TVET Development Institute
United Overseas Bank Limited

MS NEETA LACHMANDAS
DR SEE SOO LOI FOOD & LIFE
MR DESMOND TAN SCHOOL OF MS ESTHER BAY Executive Director
Chief Executive Officer
NSL Chemicals Ltd SCIENCES
Deputy Director
(Aerospace & Precision Engineering) INTERACTIVE & Deputy Director (International Relations)
TVET Development Institute
Institute of Service Excellence
Singapore Management University MR JOSEPH LAM CHAIRMAN
DR NG CHER SIANG
DIGITAL MEDIA MR CHAO TIANG MING MR TONY LAI
Managing Director
Beacons Pharmaceuticals Pte Ltd Managing Director

SCHOOL OF MR DANIEL TAN


Deputy Director (Training & Planning)
TVET Development Institute
Chief Strategist
Institute of Societal Leadership MR TAY TING HUA
Gardenia Foods (S) Pte Ltd

HEALTH SCIENCES Director

DR NG KIAN BEE
Singapore Management University

MR BARRY LEE
Vice President
Yokogawa Engineering Asia Pte Ltd
MEMBERS
MS KHOO GEK HOON
(ALLIED HEALTH) Deputy Director
(Interactive Design & Effects)
NYP VENTURES Partner
KPMG LLP
MR LESLIE CHAPPLE
Senior Director
Director
Post-Harvest Technology Department
Agri-Food & Veterinary Authority
MS LAU CHENG MUN MR EDWARD HO Global Technical Support Hyflux Ltd of Singapore
Director MR ALBERT LIM Chief Executive Officer
Deputy Director
DR BRYAN CHUA (Games & Digital Entertainment DR VALDEW SINGH
Deputy Director (Allied Health) and Projects) General Manager

14 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 15


ADVISORY
COMMITTEES
DR LESLIE LAM ASSOC PROF TAN TIN WEE MS YEO PIAH CHOO PROF ANDREW Y C NEE MR HO HOOI MIN ASSOC PROF KOH DOW RHOON
Head & Senior Consultant Director Director (Industry Development) Professor Senior Director Department of Physiology
Laboratory Medicine National Supercomputing Centre DesignSingapore Council National University of Singapore College of Continuing Education Yong Loo Lin School of Medicine
Ng Teng Fong General Hospital Associate Professor Nanyang Polytechnic National University of Singapore
Department of Biochemistry MR LEE YOUN KAY MR CHRISTIAN BURDIN
DR STEVEN FANG Yong Loo Lin School of Medicine Director Managing Director MS AIZED NOOR
Partner
Clearbridge Accelerator
National University of Singapore

ASSOC PROF CHRISTINA CHAI LI LIN


School of Design
Nanyang Polytechnic
Festo Pte Ltd

MR LEONG MUN YUEN


HEALTH SCIENCES Musculoskeletal Physiotherapist
Physio Solution

MR CHOO KIN POO Assistant Dean MR HO HOOI MIN CHAIRMAN DR LOH YIK HIN
Group Vice President Faculty of Science Senior Director MR HIDEKI BABA CLIN PROF ANG CHONG LYE Chief Executive Officer
Strategy Planning & Global National University of Singapore College of Continuing Education Managing Director Chief Executive Officer St Andrews Community Hospital
Business Development Nanyang Polytechnic Panasonic Factory Solutions Asia Pacific Singapore General Hospital
Luye Medical Group Ltd MR SIM CHOON SIONG ASSOC PROF PANG WENG SUN
Group Director (Quality and Standards) MR LOH KHAI PENG MEMBERS Chairman
ASSOC PROF BRENDON JOHN HANSON MR T K UDAIRAM
Head
Bio-Defence Therapeutics Laboratory
SPRING Singapore

DR JOEL LEE
ENGINEERING Managing Director
Hewlett-Packard Singapore (Sales) Pte Ltd Group Chief Executive Officer
Eastern Health Alliance
Medical Board
Yishun Community Hospital

DMERI Director CHAIRMAN MR TAN YUH WOEI DR PAULINE TAN CHENG JEE
DSO National Laboratories School of Chemical & Life Sciences MR QUEK GIM PEW Country Director MR ZEE YOONG KANG Chief Executive Officer
Nanyang Polytechnic Chief Executive Officer Symantec Singapore Pte Ltd Chief Executive Officer Yishun Community Hospital
MS THIEN KWEE ENG DSO National Laboratories Health Promotion Board
Assistant Managing Director DR YOON KOK THEAN MS LAU CHENG MUN
MR FOO HEE JUG
(Cluster Group Consumer)
Economic Development Board DESIGN MEMBERS
MR NG CHONG KHIM
Senior Advisor
Deputy Managing Director
SP Training and Consultancy Company
Pte Ltd
Chief Executive Officer
Jurong Health Services Pte Ltd
Director (Allied Health)
School of Health Sciences
Nanyang Polytechnic
PROF PATRICK H M LOH CHAIRMAN ST Electronics Limited
Director-Shareholder MR CHIANG HOI KEONG MR TIN HO MS PHUA PUAY LI MS BELLA TAN
Link (THM) Sciences Pte Ltd Principal Consultant MR DENNIS AU Operations Director Director Director (Nursing)
Adjunct Professor, Strategy & Organisation Hans Klaus Consultants President & Chief Executive Officer Rolls-Royce Singapore Pte Ltd Manpower Planning & Strategy School of Health Sciences
Lee Kong Chian School of Business Frencken Group Limited Ministry of Health Nanyang Polytechnic
Singapore Management University MEMBERS MR ALOK MISHRA
ASST PROF PEER M SATHIKH DR LIM BOON HUAT Vice President MS TAN SOH CHIN
DR ANNIE LING
Director
Acting Associate Chair (Academic)
School of Art, Design & Media
Managing Director
Rohde & Schwarz Asia Pte Ltd
Strategic Business Systems
Johnson & Johnson Medical Asia Pacific
Chief Nursing Officer
Ministry of Health INFORMATION
Policy, Research & Surveillance Division
Health Promotion Board
Nanyang Technological University

MR PETER HOW
MR CHANG CHIN NAM
Executive Director
MR JACOB TONG
General Manager
ASSOC PROF PATRICK TSENG
Chief Dental Officer
TECHNOLOGY
ASST PROF LITA CHEW SUI TJIEN Director, Design Precision Engineering Group Information Systems Ministry of Health CHAIRMAN
Chief Pharmacist CPG Consultants Pte Ltd Economic Development Board Keppel Corporation Limited MS JESSICA TAN
Singapore Pharmacy Council MS ANGELA YAK Managing Director
Ministry of Health MR ALLEIN G MOORE MR ONG VOON FIE MR EDWARD HO Director Microsoft Operations Pte Ltd
Publisher & Chief Executive Officer Senior Vice President Deputy Principal (Development) & Social Service Leadership Unit
MS JOANNE CHIO SIEW LENG AdAsia Media Pte Ltd Sanmina-SCI Systems Singapore Pte Ltd Senior Director Human Capital Development Group MEMBERS
Head, Clinical Trials School of Engineering National Council of Social Service MR EDDIE CHAU
Haematology-Oncology Research Group DR WILSON CHEW MR TAN CHENG TECK Nanyang Polytechnic Co-founder & Chairman
National University Cancer Group Principal Consultant & Executive Vice President ADJ ASSOC PROF CHONG PHUI NAH V-Key Inc
Institute, Singapore Chief Executive Officer Production MR CHAN YEW MENG Chief Executive Officer Co-Founding Partner
National University Hospital StrategiCom Pte Ltd Senoko Energy Pte Ltd Deputy Principal (Academic) & National Healthcare Group Polyclinics TNF Ventures
Senior Director
MR PETER NOUH DR RICKY SOUW Centre for Professional & ADJ ASSOC PROF JOE SIM
Director, Visual Merchandise Chief Executive Officer Leadership Development Chief Executive Officer
DFS Venture Singapore (Pte) Ltd Sanwa Plastic Industry Pte Ltd Nanyang Polytechnic National University Hospital

16 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 17


ADVISORY STUDENT INTAKE &
COMMITTEES ENROLMENT AY2015/16
MR ANDREW CHOW PROF THAMBIPILLAI SRIKANTHAN MR PETER BARBER SCHOOL OF Enrolment Intake
President Executive Director Director, Creative Services
ST Electronics (Info-Comm Systems)
Pte Ltd
Cyber Security Research Centre
Programme Director
Blackmagic Design BUSINESS Diploma in Accountancy & Finance 455 144

MR SIMON DALE
TUM-CREATE Programme
Nanyang Technological University
MR OLIVIER DE ROTALIER
Managing Director
MANAGEMENT Diploma in Banking & Finance
Previously known as Diploma in Banking & Financial Services
377 109

Diploma in Business Management 1,168 311


Head of Technology & Innovation Ubisoft Singapore Pte Ltd
Asia Pacific Japan MR DANIEL TAN Diploma in Food & Beverage Business 180 59
SAP Asia Pte Ltd Director MR JOACHIM NG
Diploma in Fund Management & Administration 182 52
School of Interactive & Digital Media Director, Industry Operations
MR HARISH PILLAY Nanyang Polytechnic Media Development Authority Diploma in Hospitality & Tourism Management 458 110
Global Head of Singapore
Community Architecture & Leadership MR DENNIS ANG Diploma in Marketing 235 74
Red Hat Asia Pacific Pte Ltd Director MR PEE BENG KONG Diploma in Mass Media Management 170 52
School of Information Technology Director, Electronics Division
MR KHOR CHECK KIM Nanyang Polytechnic Economic Development Board Diploma in Sport & Wellness Management 183 51
Founder (up to 30 November 2015)
Total 3,408 962
KCK Consulting
MR KIREN KUMAR
MR HOWIE LAU INTERACTIVE & Executive Director
Chief Marketing Officer
StarHub Ltd DIGITAL MEDIA Infocomms & Media Cluster
Economic Development Board SCHOOL OF Enrolment Intake

MR LIM SWEE CHEANG CHAIRMAN


MR FREDDIE YEO
PROF SEAH HOCK SOON CHEMICAL & Diploma in Biologics & Process Technology 147 42

Vice Dean
Executive Development Programme
School of Continuing & Lifelong Education
Chief Operating Officer
Infinite Studios
Professor & Director
gameLAB
Division of Visual & Interactive Computing
LIFE SCIENCES Diploma in Chemical & Green Technology

Diploma in Chemical & Pharmaceutical Technology


143

395
45

110

National University of Singapore School of Computer Engineering Diploma in Food Science & Nutrition 242 71
MEMBERS Nanyang Technological University
Diploma in Medicinal Chemistry 161 50
MR P RAMAKRISHNA MS TERESA CHENG
Deputy Chief Executive Officer General Manager MR DAVID NG Diploma in Molecular Biotechnology 213 63
CIO Academy Asia Lucasfilm Animation Company Chief Executive Officer
Singapore B.V. Go Game Pte Ltd Diploma in Pharmaceutical Sciences 217 56
MR ALPHONSUS PANG Total 1,518 437
Vice President MR JOHNNY LAU MR JAMES EARL GRAY
Business Transformation Director General Manager & Vice President
StarHub Ltd Anime International Co. Asia The Walt Disney Company

DR COLIN QUEK MR NG TEOW KHOON


(Southeast Asia) Pte Ltd
SCHOOL OF Enrolment Intake

Managing Partner
Talentgrid Ventures Pte Ltd
President, Asia Pacific
Side Effects Asia Pacific
MS GINA SIM
Business Director
DESIGN Diploma in Industrial Design

Diploma in Space & Interior Design


150

217
42

70
OneKind Asia
MR JOSHUA SOH MR RAYMOND WONG Ogilvy & Mather Diploma in Visual Communication 199 68
Chief Executive Officer Senior Vice President
Total 566 180
Healthstats Koei Tecmo Singapore Pte Ltd MR DENNIS ANG
Director
MS CLAUDIA TAN MR SENG CHOON MENG School of Information Technology
Country Manager Chief Executive Officer Nanyang Polytechnic
Enterprise Business Unit Scrawl Studios Pte Ltd
IBM Singapore Pte Ltd MR DANIEL TAN
MR BARRY SEE Director
Head, Production Resource School of Interactive & Digital Media
Mediacorp TV Singapore Pte Ltd Nanyang Polytechnic

18 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 19


STUDENT INTAKE &
ENROLMENT AY2015/16
SCHOOL OF Enrolment Intake
SCHOOL OF Enrolment Intake

ENGINEERING Aerospace/Mechatronics Programme 328 328


INFORMATION Diploma in Business Enterprise IT 183 64

Common Engineering Programme

Diploma in Aeronautical & Aerospace Technology


314

287
311

45
TECHNOLOGY Diploma in Business Informatics

Diploma in Business Intelligence & Analytics


371

161
91

39

Diploma in Aerospace Systems & Management 176 45 Diploma in Cyber Security & Forensics
192 62
Previously known as Diploma in Information Security
Diploma in Biomedical Engineering 249 66
Diploma in Engineering Informatics 399 117
Diploma in Digital & Precision Engineering 369 113
Diploma in Financial Informatics 181 53
Diploma in Electrical Engineering with Eco-Design 242 52
Diploma in Information Technology 372 118
Diploma in Electronics, Computer & 845 139
Communications Engineering Total 1,859 544

Diploma in Engineering with Business 205 99

Diploma in Manufacturing Engineering 150 -


Course not offered from AY2015/16
SCHOOL OF Enrolment Intake
Diploma in Mechatronics Engineering

Diploma in Multimedia & Infocomm Technology


409

655
3

176
INTERACTIVE Diploma in Animation 263 77

Diploma in Nanotechnology & Materials Science 148 45 & DIGITAL Diploma in Digital Game Art & Design

Diploma in Digital Visual Effects


234

126
72

44
Diploma in Telematics & Media Technology 103 23 MEDIA Diploma in Game Development & Technology 216 74
Total 4,480 1,445 Diploma in Interaction Design 203 65

Diploma in Motion Graphics & Broadcast Design 101 37

Total 1,143 369


SCHOOL OF Enrolment Intake

HEALTH Diploma in Dental Hygiene & Therapy 73 24


GRAND TOTAL 15,842 4,959

SCIENCES Diploma in Diagnostic Radiography

Diploma in Nursing
121

2,038
55

731

Diploma in Occupational Therapy 185 56

Diploma in Physiotherapy 260 91

Diploma in Radiation Therapy 35 15

Diploma in Social Sciences (Social Work) 156 50

Total 2,868 1,022

20 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 21


HIGHLIGHTS

APR MAY SIDM AND CNB COMBAT DRUG ABUSE


2015 2015
WITH MOBILE GAME TVET CAPABILITY
In partnership with the Central 7 May 2015 with the help of DEVELOPMENT
Narcotics Bureau (CNB), SIDM
students developed a new mobile
Jackie Chan, Singapores first
celebrity anti-drug ambassador.
PROJECTS
game Aversion that educates During his visit, the international FOR CHINA
youths on the dangers of drug superstar also met with the SIDM
abuse. It was launched at NYP on students who developed the game. In May 2015, NYPi launched
a Fujian TVET Capability
Development Project, which
aims to train 96 principals/
leaders and 120 heads of
departments and course
managers from various
polytechnic colleges across
Fujian, China in technical and
vocational education and
training (TVET). The course
participants form a core group
Students writing appreciative messages for I Appreciate 2015
and contribute to enhancing
the standards and quality of
TVET in the southern Chinese
province. As part of the
project, a total of four TVET
Institute Management courses
and five NYP Education
Concepts and Academic
Management courses will be
conducted. Following several

IO 2B WORKSHOPS partnership-development
trips to Heilongjiang and Jilin
NYP adopted the Integrated One of the young developers of Aversion showing anti-drug ambassador Jackie Chan provinces, an NYP student
how to play the mobile game
Objective/Outcome-based learning node has also been
Teaching & Learning (iO2B) established in Harbin, and
Framework with the aim of another TVET project is set to
achieving alignment between
clear articulation of learning
Posting up encouraging notes A colourful I Appreciate notice board NYP CONNECT APP launch in Jilin in mid-2016.
Separately, 15 TVET
outcomes, appropriate use NYP Connect, a new mobile app management programmes
of instructional activities
and assessment strategies.
THIRD RUN OF I APPRECIATE for alumni, was launched during the
NYP Graduation Ceremony 2015.
were held at NYP for 300
representatives from 60
Between April and July 2015, Between 27 April and 22 May 2015, a series of The app is part of an innovative polytechnics and vocational
a total of 173 staff were events were held to encourage students and staff system that allows graduates to colleges in Henan. They
trained in the new framework. to celebrate their positive experiences at NYP, as book campus facilities, register for included senior education
Six workshops were held well as to recognise those who have encouraged events and update their personal officials, TVET management
for Course Management and supported them. They were invited to write particulars through personalised and specialist staff, and the
Teams and one for School notes to show their appreciation of others and were e-Cards on their smartphones. project was completed in
Directorate members. encouraged to post them on colourful I Appreciate The new NYP Connect e-Card provides an identity for our January 2016.
boards set up around NYP. alumni and allows us to connect with them more effectively

22 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 23


HIGHLIGHTS

JUN JUL
2015 2015

BEST DAIRY
Enthusiastic participants led by professional Zumba instructors at the Zumbathon

ZUMBATHON DESSERT AT WORLD


A Zumbathon event organised by SCL the guest of honour. With a total of DAIRY CONGRESS
and Thye Hua Kwan Moral Society 3,578 participants, the event entered the A delicious creation by SCL
was held on 20 June 2015 to celebrate Singapore Book of Records for the most and SDN students named
racial harmony. Then Education Minister number of people participating in a mass Mangolina a milk pudding
Heng Swee Keat graced the event as Zumba exercise. made with mango and the algal
superfood Spirulina won the
Best Dairy Dessert Award at
the 2015 World Dairy Innovation Pioneers from organisations such as Teck Ghee Community Centre, Pasir Ris Community Centre and National Kidney Foundation having
a good time at the SG50 Community Day with Our Pioneer Generation event
Awards. The competition was
part of this years Global Dairy
Congress, which was held in
Amsterdam from 23 to 25 June
2015. Another entry from the
team a black glutinous rice
energy drink with wolfberry
extract was a finalist for the
Best Dairy Drink Award. NYP STAFF WINS
SYA MEDAL OF
COMMENDATION
EXCELLENT Six years after winning a

SERVICE AWARDS Singapore Youth Award (SYA),


Assistant Director of Student
Forty-five staff from the Affairs Lina Chong received the
various schools and corporate SYA Medal of Commendation

Users are able to access library services and resources seamlessly and efficiently wherever they are via the
departments were recognised
with Excellent Service
at a presentation ceremony on
12 July 2015. Ms Chong SG50 COMMUNITY DAY WITH
OUR PIONEER GENERATION
Library Portal
Awards (EXSAs) for delivering was the only recipient of the
outstanding service and being commendation medal this year.

NEW LIBRARY PORTAL role models in their respective


fields in 2014. In all, they
The accolade is given out by
the National Youth Council to
Students from NYPs various
co-curricular clubs came together
with Peoples Association and the
National Youth Council, the event was
Launched on 29 June, the librarys new content-rich website with user-centric design, attained one STAR Award, former SYA recipients who to befriend and engage with some held on 25 July 2015 and featured
collaboration tools and improved browsing capabilities has created a better user seven Golds and 37 Silvers. The have continued to contribute 1,000 Singaporeans from the a variety of programmes, including
experience. Featuring enhanced integrated search functionalities, the Library Portal 2014 EXSAs were presented to to society for at least five years Pioneer Generation at the SG50 a musical, a carnival with a past,
provides intuitive and seamless access to library services and resources. A new NYP staff on 24 June 2015. after being conferred the SYA. Community Day with Our Pioneer present & future theme, and games
Library On-the-Go mobile app was also introduced on the same day. Generation event. A collaboration such as marbles and tic-tac-toe.

24 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 25


HIGHLIGHTS

AUG SEP
2015 SG50 NATIONAL 2015

DAY PARADE
SIDM has been involved in the
National Day Parade (NDP)
since 2011 and again helped to
drive digital media efforts for
the 2015 parade to celebrate
Singapores Golden Jubilee.
Motion Graphics & Broadcast
Design students worked closely
with the NDP Media Team to
develop seven segments of
International Game Concept Challenge 2015 in France
stunning animated visuals that
were projected onto 220 metres
of massive LED panels around
the Padang during the NDP.
INTERNATIONAL GAME CONCEPT CHALLENGE
A tapestry of colourful digital media visuals created by SIDM students for NDP 2015
Students from the Digital 9 September, the intense
Game Art & Design and Game competition promotes a unique
Development & Technology multinational ideation process in
courses had the opportunity to game concept creation, with each
travel to Valenciennes, France for team made up of a mix of students
the International Game Concept from participating institutions in
Challenge 2015. Held from 1 to Singapore, France and Japan.

CYBER SECURITY
AND SOLUTIONS
WORLDSKILLS CENTRE OPENS
SO PAULO 2015 SITs Daniel Lee was Singapores best-performing competitor at WorldSkills 2015
The new Cyber Security and
Solutions Centre, which was
Fifty-nine countries participated in the unveiled on 5 September 2015,
WorldSkills Competition, which was serves as a platform for SIT
held in So Paulo, Brazil from 11 to 16 students to build cyber security
August 2015. The Singapore contingent competencies through involvement
took home a total of three medals, two in cutting-edge industry projects
of which were won by NYP students. and knowledge-sharing sessions.
SITs Daniel Lee Wei Meng clinched The centre is a joint effort between
the silver medal in the IT Network NYP, the Centre for Strategic
Systems Administration category. He Infocomm Technologies (CSIT),
was also presented with the Best of Microsoft Singapore, StarHub and
Nation award for garnering the best ST Electronics.
overall score amongst the Singapore
representatives. Lim Ling, a Year 2
student from SHS, won bronze in the SIT students participate in various initiatives sponsored by CSIT at the Cyber Security and Solutions Centre for
SHSs Lim Ling working with a patient in a WorldSkills scenario their final year projects
Health and Social Care category.

26 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 27


HIGHLIGHTS

SEP
2015
TERTIARY CHAMPIONSHIP OCT
2015
The NYP Silat Teams training
and determination paid off at the
it clinched a total of four golds and
eight bronze medals. The team
DESIGN INSPIRATION JOURNEY EXHIBITION
Tertiary Silat Championship held on also won overall first runner-up in Roving exhibitions at three 2015, followed by Ang Mo
19 and 20 September 2015, when the competition. public libraries to showcase Kio and Orchard in November
creative works by students 2015 and March 2016
from the School of Design respectively.
have been very well-received
by the public. The first
Visitors viewing the Design Inspiration
exhibition was held in Bishan
Journey Exhibition at Ang Mo Kio Library
Public Library in October

SINGAPORE
PERSPECTIVE
ON URBAN AIR
QUALITY AND
PUBLIC HEALTH
SYMPOSIUM PS21 STAR
Experts from various fields, SERVICE AWARD
including public health,
environmental monitoring
2015
and toxicology, gathered Dr Phua Chee Teck, manager
at NYP on 15 September of the School of Engineering,
for a symposium on urban won the prestigious PS21 Star
Ahmad Kamal was crowned champion in the Male Match Class H category
air quality and its impact Service Award 2015 for having
on health. Hosted by the consistently demonstrated
Centre for Sustainable high standards of service
Nanotechnology, the excellence. Many of his

OVERSEAS INTERNSHIPS AT BCIT, CANADA Singapore Perspective on


Urban Air Quality and Public
innovations and initiatives are
in line with the governments
A Nursing Capability Development Project training session in Shandong

A collaboration between NYP and Health symposium sought to vision for the public sector
the British Columbia Institute of identify innovative solutions to become One Trusted NYPi CONCLUDES TWO NURSING CAPABILITY
Technology (BCIT) saw students
from the School of Engineering
to mitigate the health risks
of air pollution. Leading
Public Service with Citizens
at the Centre. One such
DEVELOPMENT PROJECTS FOR CHINA
going on an overseas internship in researchers from National example is Dr Phuas R&D Two Nursing Capability Shandong receiving training at NYP
British Columbia, Canada from University of Singapore, collaboration with National Development Projects for the in nursing management, nursing
23 September to 23 December Nanyang Technological University Hospital on the Chinese provinces of Shandong pedagogy and specialist nursing.
2015. During their attachments University, KK Womens and development of a novel and Jiangsu were completed in Meanwhile, 134 management
with BCIT Technology Centre, Childrens Hospital, Institute method to determine risk FY2015. The Shandong project, staff, teaching staff and nursing
Vancouver General Hospital and of Occupational Medicine, of stroke among patients which wrapped up in October practitioners from 20 hospitals
Novadaq Technologies Inc., the PerkinElmer Singapore Pte with atrial fibrillation, which 2015, saw 156 chief nurses, (Class 2 or above) and nursing
students worked on portable Ltd, AiRazor Technologies and ultimately aims to provide a nursing managers, nursing colleges in Jiangsu underwent eight
diagnostic and R&D projects, and NYP presented their latest better quality of life for those specialists and nursing educators courses at NYP, the last of which
assisted with quality assurance and findings at the event. who are ill. from 65 hospitals (Class 2 or ended in January 2016.
SEG students with faculty members at BCIT
maintenance of hospital equipment. above) and nursing colleges from

28 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 29


HIGHLIGHTS

NOV
SPECTRUM NYP ARTS FESTIVAL 2015
DEC INTRODUCING THE READING LOUNGE
2015
The Polytechnics best arts talents Future, the well-received festival
2015
AND TOUCH2READ KIOSK
were showcased during SPECTRUM featured many creative collaborations Reading Lounge, a new learning local and international eMagazines,
NYP Arts Festival, and a myriad of
performances, exhibitions, workshops
involving SDN, SIDM, Library, NYP
Arts and Culture Council, and the SKILLS AND space where students can engage
in group collaborations, individual
eNewspapers and eBooks. These
include over 5,000 publications from
and concerts were held from 9 to
28 November 2015. Themed Our
Polytechnics various arts and
culture clubs.
TRAINING study and social interactions in a
relaxed setting, was launched on
133 countries in 56 languages.

ENHANCEMENT 10 December 2015. Located next

PROJECT FOR to the library with views of the


roof garden, the lounge is fitted

LEAD HERITAGE BANGLADESH with comfortable, modular chairs


and configurable furniture to meet
LEARNING JOURNEY In December 2015, NYPi individual or group preferences.

SG50 PROGRAMME completed the first phase


of the Skills and Training
The new Touch2Read Kiosk in
the library was also launched on
In June and November 2015, the NYP Enhancement Project 10 December. Using intuitive touch
Mentoring Club organised the (STEP) for the Directorate and swipe gestures, it provides
Learning*Enabling*Appreciating* for Technical Education quick access to a selection of high-
The new Touch2Read Kiosk
Developing (LEAD) Heritage Learning (DTE), Ministry of Education, quality digital resources such as
Journey for some 200 young Bangladesh. Aimed at
beneficiaries from partner voluntary reforming and enhancing
welfare organisations. The programme Bangladeshs technical and
was sponsored by the National Youth vocational education and
Council. The participants explored training (TVET) system, the
Singapore with three Ps in mind project trained 420 officials,
People, Progress and Patriotism institutional leaders and senior
including a visit to Kreta Ayer Square faculty members through
where they interacted with elderly 22 training programmes.
Singaporeans and learnt about issues Encouraged by the positive
A SPECTRUM of vibrant arts showcased during the NYP Arts Festival
that these seniors face. feedback from participants,
DTE and NYPi went on to
sign a 3-year partnership NYPs Reading Lounge aims to inspire learning, spark creativity and encourage
interaction among students
agreement on 16 February
2016. It will enable 1,150

AS ONE,
Bangladesh TVET leaders
and teachers to deepen their
EDUCATION SYMPOSIUM 2015
DANCE MUSICAL 2015 technical and professional
knowledge through 60 Moving Forward: The a masterclass by Professor
More than 160 students and alumni performed in management programmes, Assessment Imperative Griffin, as well as 10 concurrent
the dance musical As One on 27 and 28 November, specialisation programmes was the theme for Education talks and workshops conducted
and wrapped up SPECTRUM NYP Arts Festival and innovative teaching Symposium 2015 (ES2015) held by staff from NYPs seven
2015 with a resounding bang. The choreography and learning (T&L) and on 18 December 2015. Emeritus schools, Centre for Professional
was cleverly interwoven with multimedia train-the-trainer programmes. Professor Patrick Griffin from & Leadership Development,
projections and evoked powerful emotions as the In addition, NYPi is assisting the University of Melbourne Foundation & General Studies,
performers re-enacted Singapores nation-building DTE in establishing 10 pilot and Dr Gog Soon Joo from the Professional Development
journey and transformation into a country with one starter-laboratories to enhance Workforce Development Agency Centre, Asian Culinary Institute
Students perform as one in a rousing dance musical extravaganza
of the worlds most competitive economies. T&L in Bangladesh. delivered keynote lectures at the and the Singapore Institute of
event. The afternoon featured Retail Studies.

30 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 31


HIGHLIGHTS

JAN SINGAPORE AMAZING FLYING FEB CNY RECEPTION IN


2016
MACHINE COMPETITION 2016
SILICON VALLEY
A team of 21 School of Engineering categories at the prestigious annual In February, Prime Minister Lee
students scooped up six medals competition jointly organised by Hsien Loong stopped by Silicon
two golds, two silvers and two DSO National Laboratories and Valley during his working visit
bronzes at the Singapore Amazing Science Centre Singapore. The in the US and met with many
Flying Machine Competition on 20 Semi-Autonomous team was also Singaporean professionals based
January 2016. They competed in the invited to conduct a demonstration at in the famous tech hub. Among
Autonomous and Semi-Autonomous the closing ceremony. them was School of IT alumnus
Lo Min Ming, who was invited to
a Chinese New Year reception
with the PM. In 2015, Min Ming
LET YOUR PASSION sold his Silicon Valley start-up

TAKE FLIGHT company Pixelapse to Dropbox,


Inc., one of the worlds most
JOURNEY TO SPACE Lo hei with PM Lee during his visit to Silicon Valley
famous cloud storage companies.

NYP played host to a space-


themed carnival organised
by Social Sciences (Social
Work) students, together with
Peoples Association Family Life
Champions, on 2 January 2016.
Let Your PAssion Take Flight
2016 Journey to Space aimed
to promote intergenerational
bonding within families and to The winning team of Darrell Lim,
Chong Li Shi and Toh Qin Yi
encourage active ageing among
seniors through activities such as
making a rocket together.
An autonomous drone ready for the Singapore Amazing Flying Machine Competition
2016 CME
GROUP TRADING
CHALLENGE
NYP HOSPITALITY & TOURISM A team of three final year
students from the Diploma in
INDUSTRY CONFERENCE EMM having fun at their retreat
Banking & Financial Services
emerged champion in the
The importance of having a long-term mindset to drive sustainable 2016 CME Group Trading
business success was underscored at the sixth NYP Hospitality &
EXECUTIVE MANAGEMENT Challenge, beating more than

MEMBERS RETREAT
Tourism Industry Conference held on 11 January 2016. In line with this 460 teams from 200 universities
years theme of Leadership and Challenges in the Hospitality and globally. This is the first time
Tourism Industry, Minister for Social and Family Development Mr Tan a team from Singapore has
Chuan Jin shared his experiences in leading youth as president of the A 2D1N retreat was held for Executive Management Members won the four-week electronic
Singapore National Olympic Council and while serving in the Singapore (EMM) on 25 and 26 February 2016. The retreat was a chance trading competition, which
Army. The event was also an opportunity for students to network with for the EMM to develop closer bonds with each other, as well was held from 2 February to
guests from associations and industry partners, as well as with alumni. as review and deliberate on NYPs strategic goal: to Deliver An 4 March 2016.
Minister Tan Chuan Jin engaging students during the conference
Enriching Student Experience.

32 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 33


HIGHLIGHTS

MAR FUN DAY OUT AT NYP FOR OVERSEAS TRIP TO BARCELONA, SPAIN
2016
SENIOR CITIZENS Over nine days and eight nights in
March 2016, 28 SDN students were
Heritage buildings. The tour was
specially arranged to widen the
The Polytechnic played host to 200 other schools. The elderly guests accompanied by two lecturers on a students perspectives in design,
senior citizens from Thye Hua Kwan tucked into a morning tea before visit to magical Barcelona home to and enable them to experience and
Moral Society for a day on 12 March taking part in activities such as unique Gothic cathedrals, architectural understand the influence and impact of
2016. The School of Engineering a treasure hunt, lucky draws and masterpieces and UNESCO World culture on design and urban planning.
coordinated the community service karaoke sessions with NYP students
event with participation from the six and staff.

LAUNCH OF ORAL SBM students on exchange at DHBW Mosbach, Germany

HEALTH THERAPY
PUBLICATION SBM EXPANDS ITS OVERSEAS
Published on 16 March 2016,
STUDENT EXCHANGE
Dimensions in Oral Health
Therapy, Singapore serves as
PROGRAMME
NYP students and staff interacting with Thye Hua Kwan residents
a showcase of expertise and In FY2015, the School of Business Management signed
the research and development new memoranda of understanding with eight overseas
efforts of students from the universities to collaborate on student and faculty
Diploma in Dental Hygiene &
Therapy. It also aims to create
DESIGN WEEK AWARDS NITE exchanges. The new collaborations have created more
opportunities for SBM students to study abroad. Currently,
a high level of awareness and The DesignS Gala Dinner & Awards Good Design Marks. It was the largest SBM has an active base of 55 partners in 18 countries as
acceptance of oral health Nite a key event of the 2016 number of accolades won by any part of its Overseas Student Exchange Programme (OSEP).
therapists in a bid to promote Singapore Design Week was held on institution at the event, and there
greater understanding of 17 March. Students from the School were hearty cheers from the jubilant
the profession. of Design took home 17 Singapore SDN team each time NYPs name
Design Awards and six Singapore was announced.

INAUGURAL NYP
PAST VS PRESENT
GAMES
On 12 March 2016, more than
270 past and present NYP
students came together to
compete in athletics events
and friendly floorball, netball,
soccer and ultimate frisbee
matches. The formidable
alumni team of 115 members
Cover of the first edition of won 11 of the 13 events on
Dimensions in Oral Health what was a memorable day
Therapy, Singapore
Proud lecturers with award-winning SDN students who scooped up a total of 23 awards at the DesignS Gala SDN students visited many famous sights in the Spanish city, including the Barcelona for all who attended.
Dinner & Awards Nite 2016 Cathedral (background)

34 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 35


HIGHLIGHTS FOCUS ON INDUSTRY

MAR
2016

NYP Chinese Orchestra members at Changi Airport before their first trip to China

NYP CHINESE ORCHESTRA SHANGHAI MUSIC EXCHANGE


On 22 March 2016, students and trip included visiting the Shanghai affiliated with SCOM. Informative talks
alumni from the NYP Chinese Conservatory of Music (SCOM) to on music sight reading, theory and
Orchestra set off excitedly for an learn from the teachers there and technique, as well as an instrument
eight-day music immersion trip to to hold a collaboration concert with factory tour were also key activities
Shanghai, China. Highlights of the students from the middle school on the itinerary.

11 MEDALS AT THE
INTER-TERTIARY CANOEING
CHAMPIONSHIPS 2016
The high-speed sport of canoe-sprinting is often
referred to as the Formula 1 of water sports. The
aim of the Inter-Tertiary Canoeing Championships
(ITCC) is to provide an opportunity for canoeists

N
in tertiary institutions in Singapore to participate YP prides itself on providing quality, leveraging on each others resources, expertise
in competitions industry-relevant polytechnic education. and capabilities. These partners include industry
catered specifically It has distinguished itself by implementing and technology leaders, educational and research
to them. At the a contextual teaching and learning concept to institutions, and economic and development
ITCC on 19 March train technologists, relentlessly pursuing new agencies both local and international. In
2016, NYPs women innovations to meet the needs of a changing FY2015, the various schools in NYP introduced
canoeists clinched economy, working closely with industry, and key initiatives and new developments, set up
Multiple medal wins for the five silvers and six focusing on developing new capabilities. Over the new facilities, inked numerous memoranda of
NYP women canoeists
bronze medals. years, NYP has collaborated with a large network understanding (MOUs), and won many important
of partners, forging strong relationships and industry projects.

36 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 37


FOCUS ON INDUSTRY

SCHOOL OF BUSINESS MANAGEMENT (SBM) OTHER COLLABORATIONS

Key Initiatives
1. Enhanced Internship Programme
2. NYP-ACCA Accelerated Professional
Pathway Scheme (for Diploma in
Accountancy & Finance students)

MOUs (Overseas Student


Exchange Programme Partner
Mr Ong Ye Kung (far left) interacting with students from the polytechnics and ITE
Universities)
after the MOU signing ceremony 1. California State University, Long Beach, USA
2. FHS St. Gallen, Switzerland
3. Kookmin University, South Korea

RETAIL SECTOR COORDINATION TEAM 4. Middlesex University, UK


5. Rangsit University, Thailand
MOU SIGNING 6. San Diego State University, USA
7. University of Seoul, South Korea
Led by NYP, a group of five Minister for Education (Higher
polytechnics and the Institute of Education and Skills), witnessed the 8. University of Sunderland, UK
Technical Education (ITE) signed MOU signing ceremony for the retail
MOUs with 16 retail companies for sector, held on 26 January 2016.
MOUs (Industry)
the implementation of SkillsFuture 1. Accounting and Corporate Regulatory
Authority (ACRA)
initiatives. Mr Ong Ye Kung, Acting
2. FOX International Channels
3. InterContinental Hotels Group
4. Olympus Imaging Singapore
5. Singapore Sports Institute

Industry Projects
1. Customer Satisfaction Survey 2015 for Koufu
Diploma in Mass Media Management (DMMM) students at the Media Hub & Production Studio, which opened on 6 January 2016
2. Examinations Process Review Project
for The Institute of Banking and
Finance Singapore
NEW TEACHING 3. Housekeeping and Front Office Productivity

ENTERPRISE CENTRES Study for AccorHotels


4. Mystery Shopping Programme for Extra
In AY2015, new Teaching Space Singapore Holdings
Enterprise Project facilities 5. Mystery Shopping Programme for Sheng
were set up to provide realistic, Siong Supermarket
relevant and industry-based DMMM lecturers and students in the midst of filming Singapores 50th Anniversary 6. Post Programme Evaluation for Army
Celebration at the 2015 National Day Parade in August
training for final year students Recruitment Centre
from SBM. These facilities 7. Project on Analysing and Reporting Survey
included the Productivity Training
Centre, Marketing Services VIDEO PRODUCTION FOR PROMINENT EVENTS Responses from Employers to Determine
Training Impact on Business for Singapore
Centre (comprising DStudio,
Connecton and Cheers), Media
IN SINGAPORE Institute of Retail Studies
8. Provision of Retail Banking Related Services
Hub & Production Studio, and Students from DMMM were involved in filming and video production for to OCBC Bank, NTU Branch
Chairman of NYPs Board of Governors Mr Tan Tong Hai (third from left) shown
BodyWatch Gym. a product at the official opening of the Marketing Services Centre on 23 June 2015 high-profile events such as the 2015 Formula 1 Singapore Airlines Singapore 9. Video Productions for SMBC Singapore
Grand Prix and the 2015 National Day Parade. Open and HSBC Womens Champions

38 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 39


FOCUS ON INDUSTRY

SCHOOL OF CHEMICAL & LIFE SCIENCES (SCL) OTHER COLLABORATIONS

Key Initiatives & Industry Projects


New Developments 1. Analysis of Activated Nuts for
1. Appointment of NYP as Programme
RESEARCH INNOVATIONS Lead by Workforce Development
Agency for Earn and Learn
Superlative Foods Pte Ltd
2. Development of a Cordycep
PATENTED Programme Advanced Diploma in
Pharmaceutical Sciences
Nutraceutical for LINK
THM Sciences

Patents were successfully filed for two 2. Launch of Workforce Skills 3. Development of a Nano-hair Dye
Qualifications Culinary Course Formulation for MASE International
innovations by SCL lecturers. On 10
Marketing Services Pte Ltd
March 2016, the patent for Sample
Preparation Method for MALDI-ToF MOUs (Universities & 4. Development of Herbal Beverages
Mass Spectrometry towards rapid
Educational Institutions) for Pure Orient Global Ltd
1. Macquarie University, Australia 5. Evaluating the Fate and Safety
identification of food bacteria was filed
by Ms Catherine Seah, Dr Mathew Lau 2. Suwon Womens University, of a Fish Vaccine Composition
South Korea Containing Nanomaterials for UVAxx
and Ms Liew Tze Horng. Separately,
3. Technological and Higher Education Pte Ltd
Dr Saji George and Ms Ignacius Tay Institute of Hong Kong
filed the patent for antimicrobial 6. Feasibility Study on Improvement in
4. University of Yangon, Myanmar Physical and Sensory Properties of
composition and preparation methods
5. Zurich University of Applied Coffee Through Nano-sizing
on 23 March 2016. Sciences, Switzerland for Suntory Beverage & Food Asia
Pte Ltd
MOUs (Industry)
7. Sensory and Consumer Testing
1. 3M Technologies Pte Ltd of Commercial Products for ABR
2. Agri-Food and Veterinary Authority Holdings Ltd
of Singapore
SCL LECTURERS 8. Shelf Life and Sensory Evaluation of
Nut Butter for Hunters Bar Pte Ltd
SCL SUCCESSFULLY
3. Baxalta Manufacturing SARL,

WIN AWARDS Singapore Branch 9. Systematic Identification of Fish

FOR INNOVATIVE EXPANDS 4. Health Promotion Board Pathogen for Rapid Vaccine
Prototyping and Development of a

FISH VACCINES SKILLSFUTURE EIP 5. Institute of Molecular and


Cell Biology Novel Vaccine Delivery System for
UVAxx Pte Ltd
In March 2016, SCL signed MOUs 6. Lonza Biologics Tuas Pte Ltd
(Joint MOU with SCL & SEG) 10. Verification of Shelf Life at
SCL senior lecturers Dr Jeffrey with Lonza Biologics Tuas Pte
Different Storage for Lim Kee Food
Seng, Dr Saji George and Mr Ltd and Baxalta Manufacturing 7. Pfizer Asia Pacific Pte Ltd
Manufacturing Pte Ltd
Christof Luda won two prestigious SARL, Singapore Branch to 8. ProXES Asia Pacific Pte Ltd
awards for developing effective formalise the partnership and 9. Pure Orient Global Ltd
autogenous fish vaccines and commitment in NYPs Enhanced
10. Quest Laboratories Pte Ltd
a novel nanotechnology-based Internship Programme (EIP) on
11. SP-Asia Pte Ltd
vaccine delivery system. The biologics manufacturing. This
12. TV SD PSB Pte Ltd
project scooped up the Most follows a successful pilot run
Innovative Project/Policy (Gold) of the EIP with GSK Biologicals 13. Zingrill Holdings Pte Ltd
award at both the PS21 ExCEL and Novartis BioPharmOps
Awards and MOE Innergy (Stat Singapore, where seven in 10
Board) Awards. Dr Seng also won students not heading for national
the PS21 Innovation Champion service were offered employment
(Silver) Award. before graduation.
President Tony Tan Keng Yam speaking with Dr Seng (far left), Dr George
(second from left) and Mr Luda (third from left) at the Istana on 20 October 2015
Photo: The Straits Times Singapore Press Holdings Limited. Permission required for reproduction

40 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 41


FOCUS ON INDUSTRY

SCHOOL OF DESIGN (SDN) OTHER COLLABORATIONS

Key Initiatives &


New Developments
1. Appointment by MOE as Sector
Coordinator for Design
2. Appointment by WDA as
Programme Manager for
Spatial Design
3. Appointment by WDA as
Programme Manager for Visual
Communication
4. Commencement of Operations at
Block N1 Level 8
5. Commencement of Specialist
Diploma in Design Strategy and
Management
6. Launch of SkillsFuture Earn & Learn
Programmes Specialist Diploma
in Spatial Design and Specialist
Diploma in Visual Communication

MOUs (Industry)
SDN staff and students who worked on some of the sets for Halloween Horror 1. ONG&ONG Group
Nights 2015, held at Resorts World Sentosas Universal Studios Singapore

Industry Projects
HALLOWEEN HORROR NIGHTS 2015 & 2016 1. Design Proposals for
Greenlam Laminates
SDN students from all three diplomas 2016 edition, with some students
2. Graphics for the 16 Skytrains Plying
were involved in designing and creating continuing to work on the project as the Changi Airport Terminals
the sets for one zone at Halloween interns. Work started in January 2016,
3. Proposal to SATS for a Multipurpose
Horror Nights 2015, which was held in and this is one of the many integrated
Meal Tray
October 2015. Following this successful projects involving SDN students from
4. Worked on Office Interior Design,
work, SDN is again involved on the more than one diploma course.
Corporate Identity and Mascot for
Social Innovation Park Ltd

Young visitors enjoying the SDN teams bubble-making installation at i Light Marina Bay 2016 TURNING IDEAS INTO REALITY
SDN has secured a generous sponsorship from

i LIGHT MARINA BAY 2016 ONG&ONG, a global multidisciplinary design practice,


to support the development of concepts and ideas
A group of 13 SDN students, led by a lecturer, collaborated with the Urban into market-ready products. It will complement SDNs
Redevelopment Authority and architectural firm Zarch to create an interactive training process by exposing its students to the
installation titled Clockwork Stories for i Light Marina Bay held in March 2016. Many development cycle of real commercial products. A
families with children flocked to the SDN teams installation, as they could relate to the formal agreement was signed at the UNIT16 Graduation
traditional playground equipment. When used, the equipment produced bubbles that Show on 10 March 2016. This is ONG&ONGs first SDN Director Mr Lee Youn Kay (left) and ONG&ONGs Director of
Learning & Development Mr Liang Lit How (centre) signed the agreement,
reflected the ambient lights and colours. Featuring environmentally sustainable light art collaboration with an educational institution.
witnessed by NYP Principal & CEO Ms Jeanne Liew (right)
installations, i Light Marina Bay attracted 740,000 visitors.

42 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 43


FOCUS ON INDUSTRY
OTHER COLLABORATIONS

MOUs (Universities & 35. Setsco Services Pte Ltd 13. Comparison and Correlation of

SCHOOL OF ENGINEERING (SEG) Educational Institutions)


1. National Institute of Technology,
36. SICK Product Center Asia Pte Ltd
37. Singapore Power Ltd
Electroencephalography Signals for
H.E.S. Pte Ltd
Kisarazu College, Japan 38. Singapore Safety Glass Pte Ltd 14. Compute-Efficient Algorithm for Statistical
2. National Institute of Technology, Analysis on an Embedded Platform for
NYP-GANSTAR INNOVATION CENTRE Overview of the Articulated Robotics System
Kurume College, Japan
39. SKEV Motors Pte Ltd
40. SMRT Corporation Ltd
Sigenic Pte Ltd
15. Conformal Cooling Insert Using DMLS
SEG collaborated with GaNStar Pte The collaboration is the first of its 41. Sodick Co., Ltd
MOUs (Industry) Process for Shimano (Singapore) Pte Ltd

ROBOTICS SYSTEM
Ltd in setting up an innovation centre kind in Singapore, integrating GaN 42. SP-Asia Pte Ltd
1. American Biltrite Far East Inc. 16. Cranioplasty Implant Moulds and Skull
for the development and production of research outcomes from A*STARs 43. Symantec Asia Pacific Pte Ltd

ENHANCES PRODUCTIVITY
2. B&R Automation Pte Ltd Prototypes for Khoo Teck Puat Hospital
gallium nitride (GaN) on silicon-based Institute of Materials Research and 44. System Technic Engineering Pte Ltd
3. Beca Asia Holdings Pte Ltd 17. Design and Development of Tooling Insert
45. Systems on Silicon Manufacturing
devices. It boasts a class 10 000
cleanroom housing a metal-organic
Engineering (IMRE) with silicon wafer
processing technologies from Nanyang FOR FAGERDALA SINGAPORE 4. Becton Dickinson Medical Products
Pte Ltd
Company Pte Ltd (SSMC)
46. TDS Technology (S) Pte Ltd
for Dynacast Singapore Pte Ltd
18. Embedded Multimedia Platform
chemical vapour deposition (MOCVD) Technological University. In June 2015, SEG unveiled a robotics system for the 5. CIBA Vision Asian Manufacturing and
47. Terasaki Electric Co. (FE) Pte Ltd for rodVENTURE
and key characterisation equipment. flexible assembly of foam packaging materials that it Logistics Pte Ltd & Alcon Singapore
Manufacturing Pte Ltd 48. Tuas Power Generation Pte Ltd 19. Growth Measurement Application Using
developed in partnership with Fagerdala Singapore
6. Cyclect Electrical Engineering Pte Ltd 49. UG M&E Pte Ltd Image Analytics Techniques for Abbott
Pte Ltd. The system uses smart visual recognition
Manufacturing Singapore Pte Ltd
for identification and assembly, which allows the 7. Delphi Automotive Systems 50. Univac Precision Engineering Pte Ltd
Singapore Pte Ltd 51. VDL Enabling Technologies Group 20. Interactive Device for Dementia Patients for
consolidation of three workstations into a single
8. Electronics & Engineering Pte Ltd Singapore Pte Ltd Rocks App Solutions
assembly line. The company, which specialises in
protective packaging solutions, has seen a fourfold 9. Ellipsiz DSS Pte Ltd 52. ViSenze Pte Ltd 21. Metal Oxide Nanofilm Coating for Energy
10. Festo Singapore Pte Ltd 53. Workforce Development Agency Storage for National University of Singapore
increase in production output since implementing the
11. Fluidigm Singapore Pte Ltd (Advanced Manufacturing) 22. Mobile App and Web Portal Development
system. This has enabled them to take on large-scale
12. Fluke South East Asia Pte Ltd 54. Yokogawa Electric Asia Pte Ltd for Institute for Infocomm Research
orders, generate higher profits and strengthen their
13. Hexogon Solution Pte Ltd 55. YTL PowerSeraya Pte Limited 23. Modular Light Ducting System for
overseas presence.
14. JEP Precision Engineering Pte Ltd 3M Singapore
15. Keystone Cable (S) Pte Ltd Industry Projects 24. Network Protocol Plugins for Intel Industrial
16. Litewell Engineering Pte Ltd 1. Additive Manufacturing of Cavity Conformal IoT Gateways for ADLINK Technology
17. Lonza Biologics Tuas Pte Ltd Cooling Insert for Additive Mfg Pte Ltd Singapore Pte Ltd
(Joint MOU with SCL & SEG) 2. Additive Manufacturing of Conformal Cooling 25. Omron Eye Catch Delta Robot Demon
18. Makino Asia Pte Ltd Insert using DMLS Process for Additive Mfg System for Omron Asia Pacific Pte Ltd
19. Meiden Singapore Pte Ltd Pte Ltd 26. Plug-in Application for Mobile
20. Microsoft (Smart Devices & IoT Solution) 3. Air Quality Monitoring System for Communication for Citrine Solution Pte Ltd
21. Ministry of Defence Innovation.Genius (IN.GENIUS) Pte Ltd 27. Polymeric Material Characterisation Using
22. Ministry of Social and 4. ALD Coating on 3D Polymer for IMRE UV-VIS-NIR, DSC and DMA for Essilor
Family Development AMERA Pte Ltd
5. ALD Coating of TiO2 on 3D Polymer for IMRE
23. Mitsubishi Electric Asia Pte Ltd 28. Proof-of-Concept Implementation of an
6. Automated Blister Inspection System for TNC
OPEN 24. MVTec Software GmbH
25. Panasonic Factory Solutions Asia
Optics & Technologies Pte Ltd
OCR-based Power Meter Reading System
for RFCOM Technologies Pte Ltd
INNOVATION LAB Pacific Pte Ltd 7. Automated Socket Handling Station and WIP
Tray Trolleys for Sanwa-Intec (Asia) Pte Ltd
29. Responsive Interfaces & Charting Modules

WITH INTEL 26. Power Automation Pte Ltd


27. PSA Corporation Ltd 8. Automatic Handover Control for Wireless
Networking for Koobatra Pte Ltd
for IEMS for Surbana Technologies Pte Ltd
30. Semiconductor Failure Analysis Using
The NYP-Intel Open Innovation Lab 28. PSB Technologies Pte Ltd AFM for SSMC
(pictured above) was launched on 10 29. Razer (Asia-Pacific) Pte Ltd 9. Automation of PODS Sensor Manufacturing
31. Serial I/O Data Concentrator for Ascenz
30. Renewpowers Technologies Pte Ltd System for Sanwa-Intec (Asia) Pte Ltd
July 2015. The result of a strategic Solutions Pte Ltd
collaboration between the Polytechnic 31. Sanmina-SCI Systems Singapore 10. Cable Car Command Centre Monitoring
32. Smart Vending Machine Supporting Mobile
and Intel, it seeks to make innovation Pte Ltd Software for CitiCall Communications Pte Ltd
Payment and Remote Inventory Control for
accessible and to drive innovation 32. SANWA Group of Companies 11. Cash Top-up Kiosk System for Bev.Eat STYL Solutions Pte Ltd
development and training in the Internet 33. SBS Transit Ltd Pte Ltd
33. X-Wing Proof of Concept Wearable
of Things and wearable solutions among 34. Sembcorp Design and Construction 12. Cashless Donation Can for NETS Pte Ltd Electronics Prototype for AerSpace Pte Ltd
NYP-GaNStar Innovation Centre Pte Ltd
staff and students, as well as SMEs.

44 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 45


FOCUS ON INDUSTRY

SCHOOL OF HEALTH SCIENCES (SHS) ENHANCING PARAMEDIC TRAINING & OTHER COLLABORATIONS

EDUCATION IN SINGAPORE Key Initiatives &


NYP was one of six parties that New Developments
signed an MOU on 16 October 2015 1. Appointment of NYP as Sector
Coordinator for Healthcare in
to collaborate on the upskilling of SkillsFuture Movement
paramedics in Singapore. The other
2. Collaboration with Secondary
institutions are Singapore Armed Schools to Develop Education and
Forces (SAF), Singapore Civil Defence Career Guidance Package
Force (SCDF), Institute of Technical 3. Creation of Site to Showcase SHS
Education (ITE), SIM University Innovation and Projects
(UniSIM) and Justice Institute of 4. Four New Teaching Clinic Sites for
Occupational Therapy Students
British Columbia (JIBC). As part of
Oasis Day Centre, Bukit Batok
the collaboration, NYP launched the Day Centre, Hougang Care Centre,
Diploma (Conversion) in Paramedicine and Community Rehabilitation and
in May 2016 taught by experienced Diploma (Conversion) in Support Service (Pasir Ris)
Paramedicine students presenting on
trainers from SHS and the School of
the pathophysiology of asthma
Business Management. MOUs (Universities &
Educational Institutions)
1. Fooyin University, Taiwan
2. Shanghai Trade Union
Polytechnic, China
3. Tzu Chi University, Taiwan

MOUs (Industry)
1. Orange Valley Healthcare Pte Ltd
2. SAF, SCDF, ITE, UniSIM and JIBC

Industry Projects
1. Development of Basic Cardiac Life
Support Mobile App for Amdon
Consulting Pte Ltd
2. Reminiscence Therapy,
Pet Therapy and Garden Therapy
Services for Orange Valley
Nursing Home
Guests admiring a model of the upcoming Centre for Oral Health 3. Super Milk Can Holder for Tan Kah
Kee Young Inventors Award 2015

CENTRE FOR ORAL HEALTH ANNOUNCED


Slated for completion in 2019, the Centre for Oral Health (COH) will be the
Thailands Princess Maha Chakri Sirindhorn (left) taking a photo of the Engage-Me-Cart at iCreate 2015
main centre in Singapore to offer subsidised dental care for Singaporeans.
Developed by National University Health System, COH will consolidate

ALZ ENGAGE-ME-CART clinical training for oral health therapy trainees, dentistry undergraduates
and postgraduates, and dental assistants. In addition, a designated area
The School of Health Sciences (Nursing) successfully collaborated with KYDZ International in March 2015 to develop the ALZ comprising 26 operatories, a waiting area, a tutorial room, a meeting
Engage-Me-Cart, comprising 18 play items, to engage and stimulate cognitive function of individuals with dementia. The cart room and X-ray facilities will be set aside for students undertaking NYPs
retails for $950 with NYP receiving 30% of profits generated. The cart received much interest at its designated booth at iCreate Diploma in Dental Hygiene & Therapy course.
in August 2015.

46 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 47


FOCUS ON INDUSTRY

SCHOOL OF INFORMATION TECHNOLOGY (SIT) OTHER COLLABORATIONS

MOUs (Industry)
1. Cloud Security Alliance Asia
Pacific Ltd
2. Tridant Pte Ltd

Industry Projects
1. Action Community for
Entrepreneurship (ACE) Portal
for ACE
2. Analytics Tool for Behaviour
Monitoring of Children with Autism
for National Institute of Education
3. Android-based App for Ninja Track
for Keio-NUS CUTE Center
4. Asian Culinary Institute (ACI) Web
& Mobile Portal for ACI
5. Digital Patient Feedback for Khoo
Teck Puat Hospital
Students will have opportunities to work on big data analytics with industry partners
6. Pocket OneMap for SLA
7. Healthcare Analytics for NHGP

WORKING WITH INDUSTRY 8. HR Analytics for Organizational


Analytics Pte Ltd
ON BIG DATA ANALYTICS 9. Knowledge Management and
Sharing of Open Source Cyber
Intelligence for MINDEF
The National Healthcare Group Polyclinics worked with SIT students to give them
10. Knowledge Management System
exposure to healthcare analytics such as data visualisation, graphs and reports, for Profiling Malicious Ware
while a project with StarHub focused on real-time, location-based, geospatial big for MINDEF
data analytics. To enhance human resource management processes for an SME, 11. Patient Eczema Severity Time
an SIT team also used text analytics to improve the recruitment process. Mobile App for Hyphens Pharma
Pte Ltd
12. Portfolio Performance
Measurement Phase 2 for ST
Asset Management Ltd

DEVELOPING MOBILE 13. Smart Office Analytics System for


S3 Innovate Pte Ltd
APPS FOR INDUSTRY 14. Statistical Arbitrage System for
Wealth Science Ltd
In FY2015, SIT worked with
several industry partners such as
Students engaged in exploring cloud security applications
Singapore Land Authority (SLA),
Asian Culinary Institute (ACI) and

MOU BOOSTS EDUCATION AND RESEARCH Home-Fix, to create useful mobile


applications. Examples include

EFFORTS IN CLOUD SECURITY Pocket OneMap for SLA, which


won Most Innovative Project (Gold)
NYP and Cloud Security Alliance APAC signed an MOU on 18 April 2015 that aims at the MOE Innergy Awards 2015,
to provide education and research in the area of cloud security. The School of and the NYP Alumni e-Card app
Information Technology received a grant from the National Research Foundation to Industry mobile apps developed by developed as part of NYPs Smart
NYP students
develop a system that ensures the security of data stored in the cloud. Campus initiative.

48 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 49


FOCUS ON INDUSTRY

SCHOOL OF INTERACTIVE & DIGITAL MEDIA (SIDM) OTHER COLLABORATIONS

Key Initiatives & Industry Projects


New Developments 1. Anti-Drug Mobile Game Aversion
STUDENT-CREATED 1. NYP-WACOM Digital Art for Central Narcotics Bureau

CONTENT TO Experience Lab


2. Singapore Games Creation
2. Branding and Awareness
Campaign for Kranji

FEATURE IN NEW Competition as Part of The


National Infocomm Competition for
Countryside Association
3. Chapter 6 ONWARDS Motion
INTERNATIONAL Infocomm Development Authority
of Singapore
Graphic Production for National
Day Parade 2015
PRODUCTION 3. Structured Internship Programme
(SIP) at Kajanni University of Applied
4. Got to Move Interactive Dance
Booth Interaction and Gamification
Sciences, Finland Design for National Arts Council
A group of 20 SIDM students will
4. SIP at Gumi Asia Pte Ltd 5. House of Fortune Drama Series for
produce digital content for 52 episodes Mediacorp Pte Ltd
5. SIP at K1ND ASIA Ogilvy & Mather
of Jungle Beat, an animated series by (S) Pte Ltd 6. Interactive and Digital Media
Infinite Studios that will be broadcast in Mr Ralf Lenninger, SVP, Interior 6. SIP at Mediacorp Pte Ltd Exhibitions at the National
180 territories around the world. NYP Electronics Solutions, Continental Library Board
Automotive GmbH, and Mr Edward
7. SIP at Robot Playground Media
and Infinite Studios will work closely to Pte Ltd 7. Little Wayang Boy Animation for
Ho, NYPs Deputy Principal Brainchild Pictures Pte Ltd
develop enhanced contextual learning (Development), inked the MOU on 8. SIP at Scrawl Studios Pte Ltd
environments for the students to apply 29 February 2016 8. Philatelic History Exhibition
9. Student Exchange at Hoseo Interaction Design for Singapore
the skills they have learnt on an actual University, South Korea Philatelic Museum
SIDM STUDENTS
NYP and Infinite Studios signed a new MOU on 6 January 2016 to collaborate on Jungle Beat
animation production. 9. Preventing Major Amputations in
MOUs (Universities &
FIRST IN
Diabetic Patients Animation for
Educational Institutions) The Good Life

SOUTHEAST 1. Hoseo University, South Korea


2. Kajanni University of Applied
10. Sealed With A Kiss Drama Series
for Mediacorp Pte Ltd

NYP AND UBISOFT ASIA TO WORK Sciences, Finland 11. The Journey 3: Our Homeland
Drama Series for Mediacorp

LAUNCH GAME ON IDEAS FOR MOUs (Industry)


Pte Ltd
12. Trailer for the Book Speaking
DEVELOPMENT CONTINENTAL 1. Ayer Rajah Constituency Office of Children for Singapore
Childrens Society
INTERNSHIP A new partnership established in
2. Gumi Asia Pte Ltd
3. Infocomm Development Authority
13. Unveiled Beauty for i Light

PROGRAMME February 2016 between NYP and Marina Bay 2016


of Singapore
international automotive supplier 14. VendArt, The Art Vending
4. K1ND ASIA Ogilvy & Mather (S) Machine for The Future
and technology company
Pte Ltd of Us Exhibition
NYP signed an MOU with Ubisoft Continental Automotive has
5. Mediacorp Pte Ltd
Singapore Pte Ltd on 23 October opened new doors for students
2015 to provide highly relevant from SIDM. They will be able 6. Robot Playground Media Pte Ltd
game development training and to embark on Continentals 7. Scrawl Studios Pte Ltd
collaborative mentorships to SIDM global innovation programme, 8. Wacom Singapore Pte Ltd
students. Under NYPs Structured Trend Antenna, to explore
Internship Programme (SIP), ideas for the future of mobility.
final year students will be placed in The programme encourages
a real-life production environment students to conceptualise and
at Ubisoft. Selected students may develop ideas to enhance user
also be hired under the SkillsFuture experience for future vehicles.
Earn and Learn Programme and
Ubisoft Singapore Managing Director Mr Olivier de Rotalier and Ms Jeanne Liew, NYP Principal & CEO, be able to embark on a Specialist
formalised the partnership for the SIP
Diploma course.

50 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 51


LIFELONG LEARNING

Development (Design) and in Information Systems Introduced in October 2015, the new Specialist Diploma
Design & Development. in Design Strategy course is geared toward participants
who already possess a good understanding of areas
ELP Specialist Diploma in Games Development like manpower management and financial management,
NYP was appointed by the Workforce Development project planning and management, budgeting and client
Agency (WDA) as programme manager for the interaction. The course enables them to widen their job
SkillsFuture Earn and Learn Programme for Media capabilities and work portfolio, take on management
(Games Development and Animation, Motion Graphics functions and operate a design business effectively to
and Visual Effects). The inaugural ELP in Games increase productivity.
Development was launched in October 2015 in
partnership with six companies, namely Gumi Asia, With the rapid expansion of Singapores sport industry,
ST Electronics (Training & Simulation Systems), it was timely that NYP introduced the Specialist
Business Connectivity, Awecent International, Diploma in Sport Management & Marketing course
Neeuro and Red Hare Studios. in February 2016. Participants will gain in-depth
understanding of the sport industry, the nature of sport
ELP Specialist Diploma in Information as a business, and the global and regional opportunities
Systems Development sport can offer Singapore.
The inaugural run of this ELP commenced in August
2015, with participants placed in three companies NEW SHORT COURSES
Accenture, Innova InfoTech and Nebulas Tree. This is NYP conducted some 20 short courses in engineering,
the first ELP on software development to be offered for life sciences, information technology, allied health
BELOW:
the information and communication technology (ICT) sciences, design and business. Some courses targeted Participants of
sector. Some participants attained the Post-Diploma the general public, while others were customised the ELP Specialist
Certificate in Advanced Software Development for companies such as MOE, ST Electronics, Diploma in
Information
Practices, the facilitated learning component of the ELP. GlaxoSmithKline Singapore, SIA Engineering Company, Systems
Johns Hopkins Singapore and Splunk Inc. Development
MODULARISATION OF CET COURSES
NYP introduced 18 modular courses drawn from
existing part-time qualifications programmes to provide
a more flexible and bite-sized learning option for
working professionals. By undergoing targeted,
just-in-time training, they will be able to stay responsive
to a changing workplace.

The 18 modules will cover topics such as visual


effects, counselling, mobile computing, and energy and

T
he College of Lifelong Learning (CLL) comprises were made in FY2015 to meet new demands. environmental management for the process industry.
the Academy of Lifelong Learning & Skills, the Individuals can customise a learning pathway that best
Singapore Institute of Retail Studies and the EARN AND LEARN PROGRAMMES (ELPs) suits their needs by applying for skills-based modular
Asian Culinary Institute Singapore. The three entities ELPs aim to give fresh polytechnic and ITE graduates courses, instead of committing to a fixed programme of
support the governments SkillsFuture initiatives by a head start in their careers. They are matched study at the outset. Credits gained from such courses
offering industry-relevant and quality programmes for with suitable employers who will provide them with can be used to help them gain a full qualification within
adult learners to engage in lifelong learning. structured on-the-job training and mentorship support. the validity period.
While employed, they will also study for industry-
Academy of Lifelong Learning & Skills recognised qualifications. Employees of participating NEW CET PROGRAMMES
The Academy of Lifelong Learning & Skills (ALLS) companies and employers who sign up for ELPs will Two new Ministry of Education (MOE)-funded academic
offers a range of full-time and part-time courses receive substantial support from the government. continuing education and training (CET) courses
for adult learners in key areas, from full diplomas Specialist Diploma in Design Strategy & Management
to customised programmes. New courses were In FY2015, NYP launched five ELPs, including and Specialist Diploma in Sport Management &
introduced and changes to existing programmes the Specialist Diploma Programmes in Games Marketing were launched in FY2015.

52 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 53


LIFELONG LEARNING

Asian Culinary Institute A new partnership between ACI and Indian Restaurants
As an anchor CET partner for the F&B services Association (Singapore) seeks to develop and deliver
industry, Asian Culinary Institute (ACI) Singapore structured Indian cuisine training programmes to build
provides training in Asian cuisines and professional the necessary skills for local chefs to progress in their
development opportunities for aspiring and existing careers. It also helps to attract and retain local talent.
local chefs. The ACI also engages in R&D to support Through this collaboration, all parties aim to work
innovation and productivity enhancement. In FY2015, together on the lean use of manpower, enhancing skills
ACI established a series of new partnerships, and competencies, and building a stronger Singaporean
signing memoranda of understanding (MOUs) with core in the Indian F&B sector.
Restaurant Association of Singapore (RAS), Indian
Restaurants Association (Singapore) and Japan Food ACI partnered the Japan Food Town Development
Town Development. to develop a Japanese cuisine curriculum for its
programmes and provide best-in-class training for
RAS and ACI joined hands to attract and support Singapore-based chefs. As part of the collaboration,
new entrants into the F&B industry, collaborating to Japan Food Town Development flew Chef Shinichi
upgrade existing staff capabilities through training Nanmoku in from Japan to conduct train-the-trainer
and attachment programmes. The two organisations programmes from 5 to 15 January 2016 for NYP-ACI
signed an MOU on 26 August 2015 at the Star Chef chefs and industry chefs under a masterclass initiative.
Competition, which was established as a platform for Japan Food Town Development is a joint venture
local professional and aspiring chefs to showcase their between the Japan Association of Overseas Promotion
culinary skills and innovations. for Food & Restaurants and the Cool Japan Fund.

ABOVE: Master
chef Nanmoku
(far left) imparts
skills and
shares tips with
Singapore-based
chefs at ACI

LEFT: Deputy
Prime Minister
Tharman
Shanmugaratnam
tries his hand at
making jalebi in
the ACI Demo
Kitchen during
the MOU signing
between ACI
and Indian
Restaurants
Association
(Singapore)

RIGHT:
Participants at
the Star Chef
Competition

54 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 55


LIFELONG LEARNING

RIGHT: Guest of
honour Mr Ong SKILLSFUTURE DEVELOPMENT
Ye Kung, Acting
Minister for
Education (Higher SkillsFuture is a national movement
Education and
to promote and encourage skills
Skills), addresses
deepening and mastery to enable
the audience at
the SIRS Industry
all Singaporeans to develop their
Practitioner potential to the fullest throughout life.
Seminar At the national level, it aims to foster
a culture that supports and celebrates
lifelong learning. The College of
Lifelong Learning launched a range
of new SkillsFuture programmes and
initiatives in FY2015 in support of this
national movement.

NYP also conducted a total of 860


CET course runs and delivered 26,116
training places. These included 77
course runs that led to polytechnic
qualifications, 89 short courses and
23 seminars, as well as 671 WSQ
courses under ALLS, SIRS and ACI.

23 671
SEMINARS WSQ
COURSES

Singapore Institute of Retail Studies


Established in January 2006, the Singapore Institute
of Retail Studies (SIRS) aims to enhance the skills
SkillsFuture ELP for the retail industry, SIRS developed
a mentorship programme to equip individuals with the
necessary skills and knowledge to become an effective
77
FORMAL-AWARD
COURSES
860
CET
profile of and professionalism in the retail industry,
and constantly adds to its lineup of skills-upgrading
corporate mentor. Participants from Charles & Keith,
the Robinson Group and Isetan have enrolled in
courses
programmes and services for the industry. Highlights of this programme.
its developments in FY2015 are as follows.
SIRS held its annual Industry Practitioner Seminar
In FY2015, SIRS commenced its first run of ELPs (IPS) at Singapore Marriott Tang Plaza Hotel on
the Specialist Diploma in Retail Management and the 26 January 2016. Themed Retail Transformation:

89
ABOVE:
Advanced Certificate in Retail Supervision. Employees Business Innovation & Skill Mastery, it was an Speakers and
participants at
of the Robinson Group, Charles & Keith and Isetan, opportunity to update retailers on new developments the SIRS Industry
three companies that participated in the ELP, are in the retail landscape. This years seminar also Practitioner
undergoing an 18-month programme of working and dovetailed the national SkillsFuture agenda, hosting a Seminar SHORT
learning concurrently. SkillsFuture MOU signing ceremony for the retail sector.
COURSES
LEFT: NYPs
The audience at this years seminar also witnessed the Principal & CEO
Another highlight is the launch of the Workforce Skills signing of 16 MOUs, five of which aim to boost talent Ms Jeanne Liew
addressing
Qualifications (WSQ) Supervise Retail Staff (Mentorship development by integrating the Enhanced Internship the seminar
Development) programme. In conjunction with the scheme with ELP. participants

56 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 57


NYP EDUCATION FUND

MEETING NEEDS,
IMPACTING LIVES
T
he Nanyang Polytechnic (NYP) Education
Fund was set up in 2003 to meet the needs
of the Polytechnic. The Fund is managed by
a management committee appointed by the Board of
Governors of NYP and seeks to ensure that the usage
of donations given by generous sponsors is aligned with
the objectives of the Fund. In March 2016, the Fund
was granted a renewal of its status as an Institute of
Public Character (IPC) by the Commissioner of Charities
of Singapore.

Objectives
The objectives of the NYP Education Fund are to:
(a) provide financial assistance to needy and
deserving students;
(b) recognise the achievements of outstanding
Polytechnic students and graduates;
(c) support student development and
enrichment programmes;
(d) support research and development programmes;
(e) support staff and capability development
programmes so as to keep abreast of changing
technologies in industry and commerce;
(f) support NYP campus development programmes;
(g) provide education and training facilities and
equipment; and
(h) promote NYP as an institution of distinction for ABOVE:
School of
polytechnic education in Singapore Education Upliftment Fund donated $132,000 to
Interactive &
support the Bursary Awards, and Mr Lee Hsien Loong Digital Media
donated $100,000 to support the development of graduate Jerome
Financial Status talents from the School of Interactive & Digital Media. Yap Xuan Rui
receives the
The Fund stood at $19.55m in 2015, and it continues inaugural Lee
to grow as more activities are organised to raise funds. Hsien Loong
MAJOR GIFT DONORS Award from
($100,000 & ABOVE) then Minister of
NYP Education Fund Education, Heng
IPC Registration No.: IPC000540 Funding Sources 1 Ngee Ann Kongsi Swee Keat
UEN: T08CC3008E The Fund continually receives donations and
Charity Registration Date: 1 April 2003 generous support from individuals, organisations
2 S R Nathan Education Upliftment Fund
Registered Address: and foundations. In 2015, Ngee Ann Kongsi donated
180 Ang Mo Kio Avenue 8, Singapore 560839 $1m as a third tranche for the Ngee Ann Kongsi
Scholarship & Bursary Awards. The S R Nathan 3 Mr Lee Hsien Loong

58 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 59


NYP EDUCATION FUND

Activities
The NYP Industry Scholarships continued to be A total of 3,689 scholarships, bursaries and subsidies
supported by corporate sponsors. were awarded in 2015, totalling $3.09m.

CORPORATE SPONSORS FOR DONORS FOR SCHOLARSHIPS, BURSARIES &


NYP INDUSTRY SCHOLARSHIPS AWARDS ($25,000 to $99,999)

1 ABR Holdings Ltd


1 Agency for Science, Technology and
Research (A*STAR)
2 Animagine Pte Ltd

3 Cheers Holdings (2004) Pte Ltd 2 Centre for Strategic Infocomm Technologies

4 Covance (Asia) Pte Ltd 3 Kuok Foundation

5 Dorf Ketal Chemicals Pte Ltd


4 National Youth Council
6 Hokkaido Artists Network & Development
Incorporated (h.a.n.d.)
5 NTUC Income Insurance Co-operative Ltd
7 Investment Management Association
of Singapore 6 SymAsia Singapore Fund

8 Mediacorp Pte Ltd

9 Mediacorp TV Singapore Pte Ltd Policies


The Reserves Policy was established to safeguard the
10 Moove Media Pte Ltd Funds stability and is pegged at not more than one year
of disbursements. In the policy regarding the Conflict of
11 National Instruments Pte Ltd
Interest Disclosure, the approach is to avoid situations that
12 Ogilvy & Mather (S) Pte Ltd may cause any potential conflict of interest. In general, all
staff are required to declare any close relationships with
13 RLC Group (Singapore) Pte Ltd students in any selection of student awards. Procurement
practices also require staff to declare non-vested interest
14 Roche Singapore Technical Operations
before selecting vendors.
Pte Ltd

15 ST Electronics (Info-Comm Systems) Pte Ltd Full details of the Funds financial standing and policies
can be found in the NYP Financial Report or on the
16 StarHub Ltd
NYP website.

Management Committee
Chairman Ms Jeanne Liew Principal & CEO, NYP

Deputy Chairman Mr Sng Chern Wei Member, Board of Governors, NYP


Director, Curriculum Planning & Development
LEFT:
Division 1, Ministry of Education
NYP student
Valery Seng
Treasurer Ms Su Kally Director, Finance, NYP Jie Wei (right)
receives the
Members Mr Chan Yew Meng Deputy Principal (Academic), NYP NYP-Mediacorp
Scholarship from
NYPs Principal &
Mr Thambyrajah T Registrar, NYP CEO Ms Jeanne
Liew (left)

60 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 61


NANYANG POLYTECHNIC
AND ITS SUBSIDIARIES

REPORT AND FINANCIAL


STATEMENT BY THE BOARD OF GOVERNORS
In the opinion of the Board of Governors, the accompanying financial statements set out on pages

STATEMENTS
66 to 112 of Nanyang Polytechnic (the Polytechnic) and its subsidiaries (collectively the Group)
are drawn up so as to present fairly, in all material respects, the financial position of the Group and
Polytechnic as at 31 March 2016, and of the statements of profit or loss and other comprehensive
income and changes in equity of the Group and Polytechnic and cash flows of the Group for the

FOR THE YEAR ENDED 31 MARCH 2016


year then ended in accordance with the provisions of the Nanyang Polytechnic Act, Chapter 191A
(the Act), the Singapore Charities Act, Chapter 37 (the Charities Act) and Statutory Board
Financial Reporting Standards.

CONTENTS

Statement by the Board of Governors 63

Independent auditors report 64 65

Statements of financial position 66


ON BEHALF OF THE BOARD OF GOVERNORS
Statements of profit or loss and other comprehensive income 67 68

Statements of changes in equity 69

Consolidated statement of cash flows 70 71

Notes to the financial statements 72 112


...............................................
Tan Tong Hai
Chairman

...............................................
Jeanne Liew
Principal & CEO

27 June 2016

62 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 63


NANYANG POLYTECHNIC
AND ITS SUBSIDIARIES
INDEPENDENT AUDITORS REPORT TO THE BOARD OF GOVERNORS OF NANYANG POLYTECHNIC INDEPENDENT AUDITORS REPORT TO THE BOARD OF GOVERNORS OF NANYANG POLYTECHNIC (CONTD)
Report on the Financial Statements Report on Other Legal and Regulatory Requirements
We have audited the accompanying financial statements of Nanyang Polytechnic (the Polytechnic) and its
subsidiaries collectively (the Group), which comprise the consolidated statement of financial position of the Group Managements Responsibility for Compliance with Legal and Regulatory Requirements
and statement of financial position of the Polytechnic as at 31 March 2016, and the statements of profit or loss Management is responsible for ensuring that the receipts, expenditure, investment of moneys and the acquisition
and other comprehensive income and statements of changes in equity of the Group and the Polytechnic and the and disposal of assets, are in accordance with the provisions of the Act. This responsibility includes implementing
consolidated statement of cash flows of the Group for the year then ended, and a summary of significant accounting accounting and internal controls as management determines are necessary to enable compliance with the provisions
policies and other explanatory information, as set out on pages 66 to 112. of the Act.

Managements Responsibility for the Financial Statements Auditors Responsibility


Management is responsible for the preparation and fair presentation of these financial statements in accordance Our responsibility is to express an opinion on managements compliance based on our audit of the financial statements.
with the provisions of the Nanyang Polytechnic Act, Chapter 191A (the Act), the Singapore Charities Act, We conducted our audit in accordance with Singapore Standards on Auditing. We planned and performed the
Chapter 37 (the Charities Act) and Statutory Board Financial Reporting Standards, and for such internal control as compliance audit to obtain reasonable assurance about whether the receipts, expenditure, investment of moneys and
management determines is necessary to enable the preparation of financial statements that are free from material the acquisition and disposal of assets, are in accordance with the provisions of the Act.
misstatement, whether due to fraud or error.
Our compliance audit includes obtaining an understanding of the internal control relevant to the receipts, expenditure,
Auditors Responsibility investment of moneys and the acquisition and disposal of assets; and assessing the risks of material misstatement
Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in of the financial statements from non-compliance, if any, but not for the purpose of expressing an opinion on the
accordance with Singapore Standards on Auditing. Those standards require that we comply with ethical requirements effectiveness of the entitys internal control. Because of the inherent limitations in any accounting and internal control
and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from system, non-compliances may nevertheless occur and not be detected.
material misstatement.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial on managements compliance.
statements. The procedures selected depend on the auditors judgment, 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 Opinion
auditor considers internal control relevant to the entitys preparation and fair presentation of the financial statements In our opinion:
in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing
(a) the receipts, expenditure, investment of moneys and the acquisition and disposal of assets by the Polytechnic
an opinion on the effectiveness of the entitys internal control. An audit also includes evaluating the appropriateness
during the year are, in all material respects, in accordance with the provisions of the Act; and
of accounting policies used and the reasonableness of accounting estimates made by management, as well as
evaluating the overall presentation of the financial statements. (b) proper accounting and other records have been kept, including records of all assets of the Polytechnic and of the
subsidiaries incorporated in Singapore of which we are the auditors whether purchased, donated or otherwise.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
audit opinion. During the course of our audit, nothing has come to our notice that caused us to believe that during the year, in relation
to the Nanyang Polytechnic Education Fund (the Fund):
Opinion (a) the use of donation moneys was not in accordance with the objectives of the Polytechnic as required under
In our opinion, the consolidated financial statements of the Group and the statement of financial position, statement regulation 16 of the Charities (Institutions of a Public Character) Regulations; and
of profit or loss and other comprehensive income and statement of changes in equity of the Polytechnic are properly
drawn up in accordance with the provisions of the Act, the Charities Act and Statutory Board Financial Reporting (b) the Polytechnic has not complied with the requirements of regulation 15 (Fund-raising expenses) of the Charities
Standards so as to present fairly, in all material respects, the financial position of the Group and the Polytechnic as (Institutions of a Public Character) Regulations.
at 31 March 2016 and the financial performance, changes in equity and cash flows of the Group and the financial
There was no fund raising appeal conducted by the Fund during the year ended 31 March 2016.
performance and changes in equity of the Polytechnic, for the year ended on that date.

Public Accountants and Chartered Accountants Singapore


27 June 2016

64 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 65


NANYANG POLYTECHNIC
AND ITS SUBSIDIARIES
STATEMENTS OF FINANCIAL POSITION STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
As at 31 March 2016 For the year ended 31 March 2016

Group Polytechnic General Fund Restricted Funds Total


Note 2016 2015 2016 2015 Note 2016 2015 2016 2015 2016 2015
$000 $000 $000 $000 $000 $000 $000 $000 $000 $000
Group
Capital account 3 6,839 6,839 6,839 6,839
Income
Accumulated surplus Student fees 53,900 53,855 - - 53,900 53,855
General Fund 296,714 278,087 286,758 268,338 Income from projects/
Restricted Funds 4 124,274 122,153 119,504 117,676 courses/donations 4 - - 35,476 28,601 35,476 28,601
Other income 16 7,776 10,920 2,476 5,989 10,252 16,909
Nanyang Polytechnic Education Fund 4 18,395 17,465 18,395 17,465 61,676 64,775 37,952 34,590 99,628 99,365
Total capital and other funds 446,222 424,544 431,496 410,318
Expenditure
Represented by: Salaries and allowances 219,117 212,836 15,951 13,506 235,068 226,342
Staff development
Non-current assets and benefits 4,223 4,083 576 567 4,799 4,650
Property, plant and equipment 5 523,459 530,878 523,420 530,856 Teaching expenses 14,758 12,210 2,866 2,334 17,624 14,544
Subsidiaries 6 - - 1,100 1,100 Repair, maintenance
Investment securities 7 201,982 196,622 197,753 192,403 and utilities 19,592 17,447 1,642 1,645 21,234 19,092
Deferred tax assets 8 12 24 - - Property, plant and
725,453 727,524 722,273 724,359 equipment written off 39 159 1 - 40 159
Depreciation of property,
Current assets plant and equipment 5 33,241 29,369 2,493 2,368 35,734 31,737
Sundry receivables, deposits and Other expenses 18,061 17,060 15,115 10,510 33,176 27,570
prepayments 9 12,946 9,816 12,456 10,011 309,031 293,164 38,644 30,930 347,675 324,094
Courses/projects-in-progress 18 99 18 99
Cash and cash equivalents 10 287,259 258,549 276,080 246,864 (Deficit) Surplus
Grants due from government 11 24,652 25,036 24,652 25,036 before grants 17 (247,355) (228,389) (692) 3,660 (248,047) (224,729)
324,875 293,500 313,206 282,010

Current liabilities Grants


Sundry creditors and accruals 12 44,786 34,192 44,606 33,831 Grants utilised 237,751 231,214 338 152 238,089 231,366
Income received in advance 19 5,867 7,091 5,925 7,046 Deferred capital grants
Grants received in advance 13 11,833 5,812 11,833 5,812 amortised 28,231 25,702 2,482 2,360 30,713 28,062
Provision for taxation 1 23 - - 265,982 256,916 2,820 2,512 268,802 259,428
62,487 47,118 62,364 46,689

Net current assets 262,388 246,382 250,842 235,321 Surplus after grants 18,627 28,527 2,128 6,172 20,755 34,699
Income tax expense 18 - - (7) (20) (7) (120)
Non-current liabilities
Deferred capital grants 14 522,796 529,082 522,796 529,082 Surplus for the year 18,627 28,527 2,121 6,052 20,748 34,579
Income received in advance 19 18,823 20,280 18,823 20,280 Other comprehensive
541,619 549,362 541,619 549,362 income for the year - - - - - -

Net assets 446,222 424,544 431,496 410,318 Total comprehensive


income for the year 18,627 28,527 2,121 6,052 20,748 34,579
Funds net assets managed on
behalf of others 15 13,135 13,370 13,135 13,370

The accompanying notes form an integral part of these financial statements.

66 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 67


NANYANG POLYTECHNIC
AND ITS SUBSIDIARIES
STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME (contd) STATEMENTS OF CHANGES IN EQUITY
For the year ended 31 March 2016 For the year ended 31 March 2016

General Fund Restricted Funds Total


Note 2016 2015 2016 2015 2016 2015 Nanyang
Polytechnic
$000 $000 $000 $000 $000 $000 Capital General Restricted Education
Polytechnic account Fund Funds Fund Total
$000 $000 $000 $000 $000
Income
Student fees 53,900 53,855 - - 53,900 53,855 Group
Income from projects/
courses/donations 4 - - 32,676 26,193 32,676 26,193 At 1 April 2014 6,839 249,560 116,101 9,704 382,204
Other income 16 8,245 11,158 1,560 4,997 9,805 16,155
62,145 65,013 34,236 31,190 96,381 96,203 Surplus for the year, representing
total comprehensive income for
Expenditure the year - 28,527 6,052 - 34,579
Salaries and allowances 218,894 212,658 13,283 10,541 232,177 223,199 Donations received - - - 7,761 7,761
Staff development At 31 March 2015 6,839 278,087 122,153 17,465 424,544
and benefits 4,223 4,083 566 543 4,789 4,626
Teaching expenses 14,758 12,210 2,843 2,313 17,601 14,523 Surplus for the year, representing
Repair, maintenance total comprehensive income for
and utilities 19,541 17,408 1,564 1,573 21,105 18,981 the year - 18,627 2,121 - 20,748
Property, plant and Donations received - - - 930 930
equipment written off 39 159 1 - 40 159 At 31 March 2016 6,839 296,714 124,274 18,395 446,222
Depreciation of property,
plant and equipment 5 33,241 29,369 2,481 2,360 35,722 31,729
Other expenses 19,011 18,383 14,490 9,878 33,501 28,261 Polytechnic
309,707 294,270 35,228 27,208 344,935 321,478
At 1 April 2014 6,839 240,679 111,182 9,704 368,404
(Deficit) Surplus
before grants 17 (247,562) (229,257) (992) 3,982 (248,554) (225,275) Surplus for the year, representing
total comprehensive income for
the year - 27,659 6,494 - 34,153
Grants Donations received - - - 7,761 7,761
Grants utilised 237,751 231,214 338 152 238,089 231,366 At 31 March 2015 6,839 268,338 117,676 17,465 410,318
Deferred capital grants
amortised 28,231 25,702 2,482 2,360 30,713 28,062 Surplus for the year, representing
265,982 256,916 2,820 2,512 268,802 259,428 total comprehensive income for
the year - 18,420 1,828 - 20,248
Donations received - - - 930 930
Surplus after grants 18,420 27,659 1,828 6,494 20,248 34,153 At 31 March 2016 6,839 286,758 119,504 18,395 431,496
Income tax expense 18 - - - - - -

Surplus for the year 18,420 27,659 1,828 6,494 20,248 34,153
Other comprehensive
income for the year - - - - - -

Total comprehensive
income for the year 18,420 27,659 1,828 6,494 20,248 34,153

The accompanying notes form an integral part of these financial statements. The accompanying notes form an integral part of these financial statements.

68 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 69


NANYANG POLYTECHNIC
AND ITS SUBSIDIARIES
CONSOLIDATED STATEMENT OF CASH FLOWS CONSOLIDATED STATEMENT OF CASH FLOWS (contd)
For the year ended 31 March 2016 For the year ended 31 March 2016

Note 2016 2015 Note 2016 2015


$000 $000 $000 $000

Operating activities Financing activities


Deficit before grants (248,047) (224,729) Operating grants received from government 240,616 239,445
Adjustments for: Development grants received from government 3,852 33,037
Interest income (3,411) (2,144) Other grants received 19,624 5,315
Reversal of allowance for doubtful debt - (84) Donations received for Nanyang Polytechnic
Fair value adjustment on financial assets at fair value through profit or loss 163 (7,945) Education Fund 930 7,761
Depreciation of property plant and equipment 5 35,734 31,737 Cash flows from financing activities 265,022 285,558
Gain on disposal of property, plant and equipment (73) (38)
Non-government fund utilised - 2 Net increase in cash and cash equivalents 28,710 22,274
Cash and cash equivalents at beginning of the year 258,549 236,275
Deficit before working capital changes (215,634) (203,201) Cash and cash equivalents (including cash managed by
Changes in working capital: Accountant-Generals Department) at end of the year 10 287,259 258,549
Sundry receivables, deposits and prepayments (2,097) (339)
Courses/projects-in-progress 81 17
Sundry creditors and accruals 10,164 (7,116)
Income received in advance 2,087 10,353
Cash flows used in operations (205,399) (200,286)

Income taxes paid (17) (378)


Cash flows used in operating activities (205,416) (200,664)

Investing activities
Interest received 2,378 1,788
Proceeds from financial assets at fair value through profit or loss - 2,000
Proceeds from disposal of property, plant and equipment 113 197
Purchase of property, plant and equipment 5 (27,864) (64,572)
Purchase of held-to-maturity financial assets (5,523) (2,033)
Cash flows used in investing activities (30,896) (62,620)

The accompanying notes form an integral part of these financial statements.

70 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 71


NANYANG POLYTECHNIC
AND ITS SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2016 For the year ended 31 March 2016

These notes form an integral part of the financial statements. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (contd)

The financial statements were authorised for issue by the Board of Governors on 27 June 2016. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction
between market participants at the measurement date, regardless of whether that price is directly observable or
estimated using another valuation technique. In estimating the fair value of an asset or a liability, the Group takes
1. DOMICILE AND ACTIVITIES into account the characteristics of the asset or liability which market participants would take into account when
pricing the asset or liability at the measurement date. Fair value for measurement and/or disclosure purposes in
Nanyang Polytechnic (the Polytechnic) was established on 1 April 1992 under the Nanyang Polytechnic these consolidated financial statements is determined on such a basis, except measurements that have some
Act, Chapter 191A. It is domiciled in Singapore and its campus is situated at 180 Ang Mo Kio Ave 8, similarities to fair value but are not fair value (e.g. value in use for impairment assessment purposes).
Singapore 569830.
In addition, for financial reporting purposes, fair value measurements are categorised into Level 1, 2 or 3 based
The principal activities of the Polytechnic are those relating to the provision of quality education, training and on the degree to which the inputs to the fair value measurements are observable and the significance of the
research in commerce, engineering, health sciences, information technology, design, and chemical and life inputs to the fair value measurement in its entirety, which are described as follows:
sciences. The principal activities of the subsidiaries are set out in Note 6.
Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the
The Polytechnic also acts as the administrator or trustee for the Staff and Student Loans and Opportunity Fund entity can access at the measurement date;
for the Ministry of Education and notebook loans for the Singapore Totalisator Board.
Level 2 inputs are inputs, other than quoted prices included within Level 1, that are observable for the
The consolidated financial statements relate to the Polytechnic and its subsidiaries (referred to as the Group). asset or liability, either directly or indirectly; and

Level 3 inputs are unobservable inputs for the asset or liability.


2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The financial statements are presented in Singapore Dollars, which is the Polytechnics functional currency.
2.1 Basis of preparation All financial information presented in Singapore Dollars has been rounded to the nearest thousand, unless
otherwise stated.
The financial statements have been prepared in accordance with the applicable requirements of the Nanyang
Polytechnic Act, Chapter 191A and Statutory Board Financial Reporting Standards (SB-FRS). SB-FRS On 1 April 2015, the Group adopted all the new and revised SB-FRS and INT SB-FRS that are effective from that
include Statutory Board Financial Reporting Standards, Interpretations of SB-FRS (INT SB-FRS) and date and are relevant to its operations. The adoption of these new/revised SB-FRS and INT SB-FRS does not
SB-FRS Guidance Notes as promulgated by the Accountant-General. result in changes to the Groups accounting policies and has no material effect on the amounts reported for the
current or prior years.
The financial statements have been prepared on the historical cost basis except for certain financial assets and
financial liabilities which are measured at fair value. At the date of authorisation of the financial statements, the following new/revised SB-FRS, INT SB-FRS and
amendments to SB-FRS that are relevant to the Group were issued but not yet effective.
Historical cost is generally based on the fair value of the consideration given in exchange for goods and services.
SB-FRS 1001 Accounting and disclosure for non-exchange revenue

SB-FRS 1001 will take effect from financial years beginning on or after 1 January 2017. The Group is currently
evaluating the impact of the changes in the period of initial adoption.

72 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 73


NANYANG POLYTECHNIC
AND ITS SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2016 For the year ended 31 March 2016

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (contd) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (contd)

2.2 Significant accounting judgements and estimates (c) Impairment of loans and receivables

The preparation of the financial statements requires management to make judgements, estimates and The Group assesses at the end of each reporting period whether there is any objective evidence that a financial
assumptions that affect the reported amounts of income, expenses, assets and liabilities, and the disclosure asset is impaired. To determine whether there is objective evidence of impairment, the Group considers factors
of contingent liabilities at the reporting date. However, uncertainty about these assumptions and estimates such as the probability of insolvency or significant financial difficulties of the debtor and default or significant
could result in outcomes that could require a material adjustment to the carrying amount of the asset or liability delay in payments.
affected in the future.
Where there is objective evidence of impairment, the amount and timing of future cash flows are estimated
Judgements made in applying accounting policies based on historical loss experience for assets with similar credit risk characteristics. Loans and receivables are
disclosed in Note 9.
Management is of the opinion that any instances of application of judgments are not expected to have a
significant effect on the amounts recognised in the financial statements other than those involving estimation 2.3 Consolidation
(see below).
The consolidated financial statements incorporate the financial statements of the Polytechnic and entities
Key sources of estimation uncertainty controlled by the Polytechnic (its subsidiaries). Control is achieved where the Polytechnic:

Management is of the opinion that there are no key sources of estimation uncertainty at the end of the reporting Has power over the investee;
period that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities Is exposed, or has rights, to variable returns from its involvement with the investee; and
within the next financial year, except as follows: Has the ability to use its power to affect its returns.

(a) Useful lives of property, plant and equipment The Polytechnic reassesses whether or not it controls an investee if facts and circumstances indicate that there
are changes to one or more of the three elements of control listed above.
The cost of plant and equipment is depreciated on a straight-line basis over the plant and equipments
estimated economic useful lives. Management estimates the useful lives of these plant and equipment to Consolidation of subsidiaries begins when the Polytechnic obtains control over the subsidiaries and ceases
be within 3 to 50 years. The carrying amount of the Groups plant and equipment at the end of the when the Polytechnic loses control of the subsidiaries. Specifically, income and expenses of a subsidiary
reporting period is disclosed in Note 5 to the financial statements. acquired or disposed of during the year are included in the consolidated statement of profit or loss and other
comprehensive income from the date the Polytechnic gains control until the date when the Polytechnic ceases
(b) Impairment of non-financial assets to control the subsidiaries.

The Group assesses whether there are any indicators of impairment for all non-financial assets at each Where necessary, adjustments are made to the financial statements of the subsidiaries to bring their accounting
reporting date. Non-financial assets are tested for impairment when there are indicators that the carrying policies in line with the Groups accounting policies.
amounts may not be recoverable.
In the Polytechnics separate financial statements, investment in subsidiaries is carried at cost less any
When value in use calculations are undertaken, management must estimate the expected future cash flows impairment in net recoverable value that has been recognised in profit or loss.
from the asset or cash-generating unit and choose a suitable discount rate in order to calculate the present
value of those cash flows.

Management has assessed that there are no indicators of impairment for non-financial assets.

74 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 75


NANYANG POLYTECHNIC
AND ITS SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2016 For the year ended 31 March 2016

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (contd) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (contd)

2.4 Foreign currency transactions 2.8 Property, plant and equipment

The financial statements are presented in Singapore Dollars, which is the functional currency of the Polytechnic. Property, plant and equipment are stated at cost less accumulated depreciation and impairment losses.
Transactions in foreign currencies are translated into the functional currency of the Polytechnic and its
subsidiaries at the exchange rate at the date of the transaction. Monetary assets and liabilities denominated When parts of an item of property, plant and equipment have different useful lives, they are accounted for as
in foreign currencies at the reporting date are translated to the functional currency at the exchange rate at the separate items (major components) of property, plant and equipment.
reporting date. Non-monetary assets and liabilities denominated in foreign currencies that are measured at
fair value are translated into the functional currency at the exchange rate at the date on which the fair value The cost of replacing part of an item of property, plant and equipment is recognised in the carrying amount of
was determined. the item if it is probable that the future economic benefits embodied within the part will flow to the Polytechnic
and its cost can be measured reliably. The costs of the day-to-day servicing of property, plant and equipment
Foreign currency differences arising on retranslation are recognised in statement of profit or loss and other are recognised in the statement of profit or loss and other comprehensive income as incurred.
comprehensive income.
Depreciation on property, plant and equipment is recognised in the statement of profit or loss and other
2.5 General Fund comprehensive income on a straight-line basis over the estimated useful lives (or lease term, if shorter) of each
part of an item of property, plant and equipment.
Income and expenditure relating to the main activities of the Polytechnic are accounted for through the General
Fund in the statement of profit or loss and comprehensive income. The estimated useful lives are as follows:

2.6 Restricted Funds Leasehold land Leasehold period of 99 years


Leasehold improvements 5 years
Separate funds are set up to account for contributions received and expenditure incurred for specific purposes. Buildings 50 years
Income and expenditure relating to such funds are accounted for through the Restricted Funds in the statement Plant and machinery 10 years
of profit or loss and comprehensive income. The assets and liabilities of these funds are accounted for separately. Furniture and fittings 5 years
For presentation purpose, the assets and liabilities of these funds are pooled together with those of the General Equipment 3 to 10 years
Fund in the statements of financial position.
Property, plant and equipment costing less than $2,000 each and renovations costing below $200,000 are
2.7 Grants charged to the statement of profit or loss and other comprehensive income in the year of purchase.

Government grants and contributions from other organisations are taken to the grants and income received Construction-in-progress is stated at cost. No depreciation is charged on construction-in-progress. Upon
in advance accounts in the statements of financial position, respectively, upon initial recognition. Other grants completion of the construction-in-progress, the amounts are transferred to the respective property, plant and
include grants from other Government Agencies. equipment categories and depreciated accordingly.

Subsequently, government grants and contributions from other organisations utilised for the purchase/ Depreciation methods, useful lives and residual values are reviewed, and adjusted as appropriate, at each
construction of depreciable assets and the values of donated depreciable assets are taken to the deferred capital reporting date.
grants account in the statements of financial position, or to the statement of profit or loss and comprehensive
income for assets which are written off in the year of purchase or donation. 2.9 Impairment non-financial assets

The deferred capital grants are recognised in the statement of profit or loss and comprehensive income over the The carrying amounts of non-financial assets are reviewed at each reporting date to determine whether there is
periods necessary to match the depreciation and write-off of the property, plant and equipment purchased with any indication of impairment. If any such indication exists, the assets recoverable amounts are estimated.
the related grants. Upon the disposal of an item of property, plant and equipment, the balance of the related
deferred capital grants is recognised in statement of profit or loss and other comprehensive income to match An impairment loss is recognised if the carrying amount of an asset or its cash-generating unit exceeds its
the net book value of the assets written off. recoverable amount. A cash-generating unit is the smallest identifiable asset group that generates cash flows
that largely are independent from other assets and groups. Impairment losses are recognised in statement of
Government grants to meet the current years operating expenses are taken to the statement of profit or loss profit or loss and other comprehensive income.
and other comprehensive income for the year. Grants are accounted for on an accrual basis.

76 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 77


NANYANG POLYTECHNIC
AND ITS SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2016 For the year ended 31 March 2016

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (contd) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (contd)

The recoverable amount of an asset or cash-generating unit is the greater of its value in use and its fair value Derivatives embedded in host contracts are accounted for as separate derivatives and recorded at fair value
less costs to sell. In assessing value in use, the estimated future cash flows are discounted to their present value if their economic characteristics and risks are not closely related to those of the host contracts and the
using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks host contracts are not held for trading or designated at fair value through profit or loss. These embedded
specific to the asset or cash-generating unit. derivatives are measured at fair value with changes in fair value recognised in statement of profit or loss and
other comprehensive income. Reassessment only occurs if there is a change in the terms of the contract that
Impairment losses recognised in prior periods are assessed at each reporting date for any indications that significantly modifies the cash flows that would otherwise be required.
the loss has decreased or no longer exists. An impairment loss is reversed if there has been a change in the
estimates used to determine the recoverable amount. An impairment loss is reversed only to the extent that (ii) Loans and receivables
the assets carrying amount does not exceed the carrying amount that would have been determined, net of
depreciation, if no impairment loss had been recognised. Reversal of impairment losses are recognised in the Non-derivative financial assets with fixed or determinable payments that are not quoted in an active market
statement of profit or loss and other comprehensive income. After such a reversal, the depreciation charge is are classified as loans and receivables. Subsequent to initial recognition, loans and receivables are measured
adjusted in future periods to allocate the assets revised carrying amount, less any residual value on a systematic at amortised cost using the effective interest method, less impairment. Interest is recognised by applying the
basis over its remaining useful life. effective interest rate method, except for short-term receivables where the recognition of interest would be
immaterial. Gains and losses are recognised in statement of profit or loss and other comprehensive income
2.10 Financial assets when the loans and receivables are derecognised or impaired, and through the amortisation process.

Financial assets are recognised when, and only when, the Group becomes a party to the contractual provisions (iii) Held-to-maturity investments
of the financial instrument. The Group determines the classification of its financial assets at initial recognition.
Non-derivative financial assets with fixed or determinable payments and fixed maturity are classified as
When financial assets are recognised initially, they are measured at fair value, plus, in the case of financial assets held-to-maturity when the Group has the positive intention and ability to hold the investment to maturity.
not at fair value through profit or loss, directly attributable transaction costs. Subsequent to initial recognition, held-to-maturity investments are measured at amortised cost using the
effective interest method, less impairment. Gains and losses are recognised in statement of profit or loss
Subsequent measurement and other comprehensive income when the held-to-maturity investments are derecognised or impaired, and
through the amortisation process.
The subsequent measurement of financial assets depends on their classification as follows:
De-recognition
(i) Financial assets at fair value through profit or loss
The Group de-recognises a financial asset only when the contractual rights to the cash flows from the asset
Financial assets at fair value through profit or loss include financial assets held for trading and financial assets expire, or it transfers the financial asset and substantially all the risks and rewards of ownership of the asset
designated upon initial recognition at fair value through profit or loss. Financial assets are classified as held for to another entity, if the Group neither transfers nor retains substantially all the risk and rewards of ownership
trading if they are acquired for the purpose of selling or repurchasing in the near term. This category includes and continues to control the transferred asset, the Group recognises its retained interest in the asset and an
derivative financial instruments entered into by the Group that are not designated as hedging instruments in associated liability for amounts it may have to pay. If the Group retains substantially all the risks and rewards
hedge relationships as defined by FRS 39. Derivatives, including separated embedded derivatives, are also of ownership of a transferred financial asset, the Group continues to recognise the financial asset and also
classified as held for trading unless they are designated as effective hedging instruments. recognises a collateralised borrowing for the proceeds received.

Subsequent to initial recognition, financial assets at fair value through profit or loss are measured at fair value. Offsetting arrangements
Any gains or losses arising from changes in fair value of the financial assets are recognised in statement of
profit or loss and other comprehensive income. For capital guaranteed investments, any deficiency in fair Financial assets and financial liabilities are offset and the net amount presented in the statement of financial
value below principal amount is recognised to the statement of profit or loss and comprehensive income to position when the Group and Polytechnic have a legal enforceable right to set off the recognised amounts;
the extent of the guaranteed amount. Net gains or net losses on financial assets at fair value through profit and intend to either settle on a net basis, or to realise the asset and settle the liability simultaneously. A right
or loss include exchange differences, interest and dividend income. to set-off must be available today rather than being contingent on a future event and must be exercisable
by any of the counterparties, both in the normal course of business and in the event of default, insolvency
or bankruptcy.

78 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 79


NANYANG POLYTECHNIC
AND ITS SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2016 For the year ended 31 March 2016

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (contd) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (contd)

2.11 Cash and cash equivalents Subsequent measurement

Cash and cash equivalents comprise cash on hand, demand deposits, and short-term, highly liquid investments The measurement of financial liabilities depends on their classification as follows:
that are readily convertible to a known amount of cash and which are subject to an insignificant risk of changes
in value. (i) Financial liabilities at fair value through profit or loss

2.12 Impairment of financial assets Financial liabilities at fair value through profit or loss includes financial liabilities held for trading and
financial liabilities designated upon initial recognition at fair value through profit or loss. Financial liabilities
Financial assets are assessed at each reporting date to determine whether there is any objective evidence that are classified as held for trading if they are acquired for the purpose of selling in the near term. This
it is impaired. Financial assets are considered to be impaired if objective evidence indicates that one or more category includes derivative financial instruments entered into by the Group that are not designated as
events have had a negative effect on the estimated future cash flows of that asset. hedging instruments in hedge relationships. Separated embedded derivatives are also classified as held
for trading unless they are designated as effective hedging instruments.
An impairment loss in respect of a financial asset measured at amortised cost is calculated as the difference
between its carrying amount and the present value of the estimated future cash flows discounted at the original Subsequent to initial recognition, financial liabilities at fair value profit or loss are measured at fair value.
effective interest rate. Any gains or losses arising from changes in fair value of the financial liabilities are recognised in the
statement of profit or loss and other comprehensive income.
Individually significant financial assets are tested for impairment on an individual basis. The remaining financial
assets are assessed collectively in groups that share similar credit risk characteristics. (ii) Other financial liabilities

To determine whether there is objective evidence that an impairment loss on financial assets has been incurred, After initial recognition, other financial liabilities are subsequently measured at amortised cost using
the Group considers factors such as the probability of insolvency or significant financial difficulties of the debtor the effective interest rate method. Gains and losses are recognised in statement of profit or loss and other
and default or significant delay in payments. comprehensive income when the liabilities are derecognised, and through the amortisation process.

All impairment losses are recognised in the statement of profit or loss and other comprehensive income. De-recognition

Impairment losses in respect of financial assets measured at amortised cost is reversed if the subsequent A financial liability is de-recognised when the obligation under the liability is discharged or cancelled or expires.
increase in fair value can be related objectively to an event occurring after the impairment loss was recognised. When an existing financial liability is replaced by another from the same lender on substantially different terms,
Any subsequent reversal of an impairment loss is recognised in statement of profit or loss and comprehensive or the terms of an existing liability are substantially modified, such an exchange or modification is treated as a
income, to the extent that the carrying value of the asset does not exceed its amortised cost at the reversal date. de-recognition of the original liability and the recognition of a new liability, and the difference in the respective
carrying amounts is recognised in the statement of profit or loss and other comprehensive income.
2.13 Financial liabilities
2.14 Provisions
Initial recognition and measurement
Provisions are recognised when the Group has a present obligation as a result of a past event, it is probable that
Financial liabilities are recognised when, and only when, the Group becomes a party to the contractual an outflow of economic resources will be required to settle the obligation and the amount of the obligation can
provisions of the financial instrument. The Group determines the classification of its financial liabilities at be estimated reliably.
initial recognition.
Provisions are reviewed at the end of each reporting period and adjusted to reflect the current best estimate.
All financial liabilities are recognised initially at fair value, plus, in the case of financial liabilities not at fair value If it is no longer probable that an outflow of economic resources will be required to settle the obligation, the
through profit or loss, directly attributable transaction costs. provision is reversed. If the effect of the time value of money is material, provisions are discounted using a
current pre tax rate that reflects, where appropriate, the risks specific to the liability. When discounting is used,
the increase in the provision due to the passage of time is recognised as a finance cost.

80 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 81


NANYANG POLYTECHNIC
AND ITS SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2016 For the year ended 31 March 2016

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (contd) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (contd)

2.15 Employee benefits 2.17 Income tax expense

Defined contribution plans The Polytechnic is registered as a charitable institution.

Contributions on the employees salaries are made to the Central Provident Fund (CPF) as required by law. With effect from the Year of Assessment 2008 or the financial year ended 31 March 2007, all registered charities
The CPF contributions are recognised as expenses in the period when the employees rendered their services. will enjoy automatic income tax exemption without having the need to meet the 80% spending rule and there is
no need to file income tax returns by virtue of Section 13(1)(zm) of the Income Tax Act, Chapter 134.
Short-term benefits
The subsidiaries of the Polytechnic are subject to tax under Singapore income tax legislation.
Short-term employee benefit obligations, including accumulated compensated absences, are measured on an
undiscounted basis and are recognised in statement of profit or loss and other comprehensive income as the Income tax expense represents the sum of the tax currently payable and deferred tax.
related service is provided.
Current tax is the expected tax payable on the taxable income for the year, using tax rates (and tax laws)
2.16 Revenue recognition enacted or substantively enacted by the end of the reporting period, and any adjustment to tax payable in
respect of previous years.
Student fees
Deferred tax is recognised, using the balance sheet liability method, as providing for all temporary differences at
Course fees for an academic year are recognised over the period of instruction in a financial year. the end of the reporting period between the tax bases of assets and liabilities and their carrying amounts in the
financial statements. Deferred tax is measured at the tax rates that are expected to be applied to the temporary
Income from projects/courses differences when they reverse, based on the tax rates (and tax laws) that have been enacted or substantively
enacted by the end of the reporting period.
Income from projects/courses is recognised based on percentage-of-completion method. Percentage-of-
completion for projects/courses is measured by progress of work done or period of instruction. Where the A deferred tax asset is recognised to the extent that it is probable that future taxable income will be available
outcome of the project cannot be reasonably estimated, income is recognised only to the extent of costs against which temporary differences can be utilised. Deferred tax assets are reviewed at the end of the reporting
incurred that are expected to be recoverable. period and are reduced to the extent that it is no longer probable that the related tax benefit will be realised.

Donations Current and deferred tax are recognised as an expense or income in profit or loss, except when they relate to
items credited or debited outside profit or loss (either in other comprehensive income or directly in equity), in
Donations are recognised upon receipt. Donations with restrictions and/or conditions attached are recognised which case the tax is also recognised outside profit or loss (either in other comprehensive income or directly in
as deferred income on the statements of financial position until the criteria are fulfilled or when the restrictions equity, respectively).
and/or conditions expire.
2.18 Funds managed on behalf of others
Interest income
Funds are set up to account for contributions received from external sources for specific purposes.
Interest income is recognised using the effective interest method.
The net assets of the funds managed on behalf of others are disclosed as a separate item in the statement of
Rental income financial position. The income and expenditure relating to these funds are accounted for directly in the funds.
Details of income, expenditure, assets and liabilities are disclosed in the notes to the financial statements.
Rental income is accounted for on a straight-line basis over the lease terms.

Dividend income

Dividend income is recognised when the Groups right to receive payment is established.

82 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 83


NANYANG POLYTECHNIC
AND ITS SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2016 For the year ended 31 March 2016

3. CAPITAL ACCOUNT 4. ACCUMULATED SURPLUS (contd)


(b) The breakdown of the income, expenditure, assets and liabilities of the individual funds under the Restricted Funds are as follows:
The capital account comprises net assets of $6,839,000 [General Fund: $6,068,000 (2015 : $6,068,000);
Restricted Funds: $771,000 (2015 : $771,000)] relating to the French-Singapore Institute, German-Singapore Project and Nanyang Student
Institute and Japan-Singapore Institute, which were transferred from the Economic Development Board to Professional Polytechnic Welfare/
Nanyang Polytechnic on 1 February 1993. Development Education Development
Courses Fund Sinking Fund Fund Fund Total
2016 2015 2016 2015 2016 2015 2016 2015 2016 2015
4. ACCUMULATED SURPLUS $000 $000 $000 $000 $000 $000 $000 $000 $000 $000

Restricted Funds Group

(a) Restricted Funds of the Group and of the Polytechnic comprise the following: Income
Income from projects/
Name of fund Purpose courses/donations 30,192 24,051 1,697 1,733 2,836 2,044 751 773 35,476 28,601
Other income 1,656 5,028 50 495 702 411 68 55 2,476 5,989
Project and Professional To fund research and development projects, to conduct professional 31,848 29,079 1,747 2,228 3,538 2,455 819 828 37,952 34,590
Development Courses Fund development courses and to fund programmes which support the
mission, goals and objectives of the Polytechnic. Expenditure
Salaries and allowances 15,951 13,506 - - - - - - 15,951 13,506
Sinking Fund To fund the maintenance of the Polytechnics apartments from Staff development and benefits 427 355 - - 149 212 - - 576 567
rental proceeds. Teaching expenses 2,866 2,334 - - - - - - 2,866 2,334
Repairs, maintenance
Nanyang Polytechnic Education Fund To provide financial assistance to needy and deserving students, to and utilities 365 443 1,277 1,202 - - - - 1,642 1,645
recognise the achievements of outstanding students and graduates Property, plant and equipment
and to promote Nanyang Polytechnic as an institution of distinction. written off 1 - - - - - - - 1 -
Depreciation of property, plant
Student Welfare/Development Fund To fund student welfare and development activities. and equipment 2,478 2,320 - 20 - - 15 28 2,493 2,368
Other expenses 10,962 7,640 - - 3,537 2,330 616 540 15,115 10,510
33,050 26,598 1,277 1,222 3,686 2,542 631 568 38,644 30,930

84 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 85


NANYANG POLYTECHNIC
AND ITS SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2016 For the year ended 31 March 2016

4. ACCUMULATED SURPLUS (contd) 4. ACCUMULATED SURPLUS (contd)

Project and Nanyang Student Project and Nanyang Student


Professional Polytechnic Welfare/ Professional Polytechnic Welfare/
Development Education Development Development Education Development
Courses Fund Sinking Fund Fund Fund Total Courses Fund Sinking Fund Fund Fund Total
2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015
$000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000

Group (contd) Group (contd)

Surplus (Deficit) before grants (1,202) 2,481 470 1,006 (148) (87) 188 260 (692) 3,660 Represented by:
Grants utilised 338 152 - - - - - - 338 152 Property, plant and equipment 8,039 5,721 - - - - 8 24 8,047 5,745
Deferred capital grants Investment securities
amortised 2,467 2,312 - 20 - - 15 28 2,482 2,360 (non-current assets) 81,995 81,792 9,315 9,305 - - - - 91,310 91,097
Deferred tax assets 12 24 - - - - - - 12 24
Surplus (Deficit) after grants 1,603 4,945 470 1,026 (148) (87) 203 288 2,128 6,172 Sundry receivables, deposits
Income tax expense (7) (120) - - - - - - (7) (120) and prepayments 3,748 2,396 184 203 588 283 9 6 4,529 2,888
Courses/projects-in-progress 18 39 - - - - - - 18 39
Surplus (Deficit) for the year 1,596 4,825 470 1,026 (148) (87) 203 288 2,121 6,052 Cash and cash equivalents
Other comprehensive income (current assets) 27,827 22,090 4,886 4,302 2,810 2,593 1,785 1,697 37,308 30,682
for the year - - - - - - - - - - Grants due from government 7,789 7,956 - - - - - - 7,789 7,956
Total comprehensive income 1,596 4,825 470 1,026 (148) (87) 203 288 2,121 6,052 Sundry creditors and accruals (1,289) (1,482) (334) (229) (1,423) (127) (8) (120) (3,054) (1,958)
for the year Provision for taxation (1) (24) - - - - - - (1) (24)
Accumulated surplus at Income received in advance
1 April 107,962 103,137 13,581 12,555 (973) (886) 1,583 1,295 122,153 116,101 (current liabilities) (833) (2,050) - - (1,936) (1,742) - - (2,769) (3,792)
Accumulated surplus at Income received in advance
31 March 109,558 107,962 14,051 13,581 (1,121) (973) 1,786 1,583 124,274 122,153 (non-current liabilities) - - - - (1,160) (1,980) - - (1,160) (1,980)
Capital account 771 771 - - - - - - 771 771 Grants received in advance (6,878) (329) - - - - - - (6,878) (329)
110,329 108,733 14,051 13,581 (1,121) (973) 1,786 1,583 125,045 122,924 Deferred capital grants
(non-government) (10,098) (7,400) - - - - (8) (24) (10,106) (7,424)
110,329 108,733 14,051 13,581 (1,121) (973) 1,786 1,583 125,045 122,924

86 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 87


NANYANG POLYTECHNIC
AND ITS SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2016 For the year ended 31 March 2016

4. ACCUMULATED SURPLUS (contd) 4. ACCUMULATED SURPLUS (contd)

Project and Nanyang Student Project and Nanyang Student


Professional Polytechnic Welfare/ Professional Polytechnic Welfare/
Development Education Development Development Education Development
Courses Fund Sinking Fund Fund Fund Total Courses Fund Sinking Fund Fund Fund Total
2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015
$000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000

Polytechnic Polytechnic (contd)

Income Surplus (Deficit) before grants (2,878) 1,380 1,555 2,091 143 251 188 260 (992) 3,982
Income from projects/ Grants utilised 338 152 - - - - - - 338 152
courses/donations 26,017 20,220 2,782 2,818 3,126 2,382 751 773 32,676 26,193 Deferred capital grants
Other income 740 4,036 50 495 702 411 68 55 1,560 4,997 amortised 2,467 2,312 - 20 - - 15 28 2,482 2,360
26,757 24,256 2,832 3,313 3,828 2,793 819 828 34,236 31,190 Surplus (Deficit) for the year (73) 3,844 1,555 2,111 143 251 203 288 1,828 6,494
Other comprehensive income
Expenditure for the year - - - - - - - - - -
Salaries and allowances 13,283 10,541 - - - - - - 13,283 10,541 Total comprehensive income
Staff development and benefits 417 331 - - 149 212 - - 566 543 for the year (73) 3,844 1,555 2,111 143 251 203 288 1,828 6,494
Teaching expenses 2,843 2,313 - - - - - - 2,843 2,313 Accumulated surplus at 1 April 98,569 94,725 16,509 14,398 1,015 764 1,583 1,295 117,676 111,182
Repairs, maintenance Accumulated surplus at
and utilities 287 371 1,277 1,202 - - - - 1,564 1,573 31 March 98,496 98,569 18,064 16,509 1,158 1,015 1,786 1,583 119,504 117,676
Property, plant and equipment Capital account 771 771 - - - - - - 771 771
written off 1 - - - - - - - 1 - 99,267 99,340 18,064 16,509 1,158 1,015 1,786 1,583 120,275 118,447
Depreciation of property, plant
and equipment 2,466 2,312 - 20 - - 15 28 2,481 2,360
Other expenses 10,338 7,008 - - 3,536 2,330 616 540 14,490 9,878
29,635 22,876 1,277 1,222 3,685 2,542 631 568 35,228 27,208

88 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 89


NANYANG POLYTECHNIC
AND ITS SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2016 For the year ended 31 March 2016

4. ACCUMULATED SURPLUS (contd) 4. ACCUMULATED SURPLUS (contd)

(c) Nanyang Polytechnic Education Fund


Project and Nanyang Student
Professional Polytechnic Welfare/ Donations and contributions made to the Nanyang Polytechnic Education Fund for endowment purpose
Development Education Development are retained as principal capital to be kept intact to earn income. Income and expenditure of the Nanyang
Courses Fund Sinking Fund Fund Fund Total Polytechnic Education Fund are taken to Restricted Funds in the statement of profit and loss and other
2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 comprehensive income [Note 4(b)].
$000 $000 $000 $000 $000 $000 $000 $000 $000 $000
The principal capital comprises the following:
Polytechnic (contd) Group and Polytechnic
2016 2015
Represented by: $000 $000
Property, plant and equipment 7,999 5,698 - - - - 8 24 8,007 5,722
Subsidiaries 1,100 1,100 - - - - - - 1,100 1,100 At 1 April 17,465 9,704
Investment securities Donations received/receivable 930 7,761
(non-current assets) 77,766 77,573 9,315 9,305 - - - - 87,081 86,878 At 31 March 18,395 17,465
Sundry receivables, deposits
and prepayments 3,054 2,535 184 203 588 283 9 6 3,835 3,027 Represented by:
Courses/projects-in-progress 18 39 - - - - - - 18 39 Fixed deposits 282 4,385
Cash and cash equivalents Government and corporate bonds 17,905 12,382
(current assets) 20,127 14,823 8,981 7,312 5,386 4,955 1,785 1,697 36,279 28,787 Cash at bank 88 290
Grants due from government 7,789 7,956 - - - - - - 7,789 7,956 Other receivables 120 408
Sundry creditors and accruals (1,017) (1,024) (416) (311) (1,423) (127) (8) (120) (2,864) (1,582) 18,395 17,465
Income received in advance
(current liabilities) (593) (1,631) - - (2,233) (2,116) - - (2,826) (3,747)
Income received in advance The use of donation moneys is in accordance with the objectives of the Nanyang Polytechnic Education Fund.
(non-current liabilities) - - - - (1,160) (1,980) - - (1,160) (1,980) There are no fund-raising activities during the financial year. The income earned solely relates to interest income
Grants received in advance (6,878) (329) - - - - - - (6,878) (329) derived from the fixed deposits, government and corporate bonds and donations received. Other receivables
Deferred capital grants of $116,000 (2015 : $402,000) is a matching endowment fund donation grant receivable from the Ministry
(non-government) (10,098) (7,400) - - - - (8) (24) (10,106) (7,424) of Education.
99,267 99,340 18,064 16,509 1,158 1,015 1,786 1,583 120,275 118,447
The total amount of tax deductible donations received for the calendar year 2015 is $916,000 (calendar
year 2014 : $1,576,000).

90 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 91


NANYANG POLYTECHNIC
AND ITS SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2016 For the year ended 31 March 2016

5. PROPERTY, PLANT AND EQUIPMENT 5. PROPERTY, PLANT AND EQUIPMENT (contd)

Leasehold Leasehold Plant and Furniture Construction- Leasehold Leasehold Plant and Furniture Construction-
land improvements Buildings machinery and fittings Equipment in-progress Total land improvements Buildings machinery and fittings Equipment in-progress Total
$000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000
Group Polytechnic

Cost: Cost:
At 1 April 2014 145,820 8,713 401,511 159,638 19,935 200,999 56,229 992,845 At 1 April 2014 145,820 8,713 401,511 159,586 19,913 200,984 56,229 992,756
Additions - 1,662 8,021 36,789 1,767 16,258 407 64,904 Additions - 1,662 8,021 36,789 1,767 16,258 407 64,904
Reclassifications - 388 54,868 - 277 669 (56,202) - Reclassifications - 388 54,868 - 277 669 (56,202) -
Disposals/write-off - - (81) (1,849) (140) (12,071) - (14,141) Disposals/write-off - - (81) (1,849) (140) (12,071) - (14,141)
At 31 March 2015 145,820 10,763 464,319 194,578 21,839 205,855 434 1,043,608 At 31 March 2015 145,820 10,763 464,319 194,526 21,817 205,840 434 1,043,519
Additions - 844 1,462 4,323 2,550 18,316 860 28,355 Additions - 834 1,462 4,323 2,534 18,313 860 28,326
Reclassifications - 80 1,637 (790) (927) - - Reclassifications - - 80 1,637 (790) (927) - -
Disposals/write-off - (75) (46) (510) (384) (12,097) - (13,112) Disposals/write-off - (75) (46) (510) (374) (12,093) - (13,098)
At 31 March 2016 145,820 11,532 465,815 200,028 23,215 211,147 1,294 1,058,851 At 31 March 2016 145,820 11,522 465,815 199,976 23,187 211,133 1,294 1,058,747

Accumulated depreciation:
Accumulated depreciation: At 1 April 2014 28,845 6,630 121,507 152,186 18,042 167,706 - 494,916
At 1 April 2014 28,845 6,631 121,507 152,212 18,063 167,717 - 494,975 Depreciation for
Depreciation for the year 1,473 857 8,503 2,721 896 17,279 - 31,729
the year 1,473 856 8,503 2,727 898 17,280 - 31,737 Disposals/write-off - - (13) (1,761) (139) (12,069) - (13,982)
Disposals/write-off - - (13) (1,761) (139) (12,069) - (13,982) At 31 March 2015 30,318 7,487 129,997 153,146 18,799 172,916 - 512,663
At 31 March 2015 30,318 7,487 129,997 153,178 18,822 172,928 - 512,730 Depreciation for
Depreciation for the year 1,473 1,064 9,452 5,823 1,162 16,748 - 35,722
the year 1,473 1,066 9,452 5,828 1,165 16,750 - 35,734 Reclassifications - - - 26 (22) (4) - -
Reclassifications - - - 26 (22) (4) - - Disposals/write-off - (75) (16) (510) (371) (12,086) - (13,058)
Disposals/write-off - (75) (16) (510) (382) (12,089) - (13,072) At 31 March 2016 31,791 8,476 139,433 158,485 19,568 177,574 - 535,327
At 31 March 2016 31,791 8,478 139,433 158,522 19,583 177,585 - 535,392

Carrying amount:
Carrying amount: At 31 March 2016 114,029 3,046 326,382 41,491 3,619 33,559 1,294 523,420
At 31 March 2016 114,029 3,054 326,382 41,506 3,632 33,562 1,294 523,459
At 31 March 2015 115,502 3,276 334,322 41,380 3,018 32,924 434 530,856
At 31 March 2015 115,502 3,276 334,322 41,400 3,017 32,927 434 530,878

92 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 93


NANYANG POLYTECHNIC
AND ITS SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2016 For the year ended 31 March 2016

5. PROPERTY, PLANT AND EQUIPMENT (contd) 7. INVESTMENT SECURITIES

During the year, the Group acquired property, plant and equipment of $28,355,000 (2015 : $64,904,000). Group Polytechnic
The additions were by way of cash payments of $27,712,000 (2015 : $64,550,000), donated assets of $61,000 2016 2015 2016 2015
(2015 : $202,000) and amount payable to suppliers of $582,000 (2015 : $152,000). $000 $000 $000 $000
Non-current assets
Cash outflow in the consolidated statement of cash flows for the year also includes payments for property, plant Quoted securities managed
and equipment acquired in the previous year of $152,000 (2015 : $22,000). by fund managers
- unit trusts 123,057 122,638 118,828 118,419

6. SUBSIDIARIES Capital guaranteed investment


Polytechnic portfolio managed by
2016 2015 fund manager 59,020 59,602 59,020 59,602
$000 $000 Government and corporate bonds,
at amortised cost 19,905 14,382 19,905 14,382
Unquoted ordinary shares, at cost 1,100 1,100 201,982 196,622 197,753 192,403

Details of the subsidiaries are as follows: Capital guaranteed investment portfolio managed by fund manager
Proportion of
Country of ownership interest The capital guaranteed investment portfolio managed by fund managers is classified as financial assets at
Name of subsidiary Principal activities incorporation and voting power held fair value through profit or loss. However, any deficiency in fair value of the portfolio below principal amount is
2016 2015 recognised to the extent of the guaranteed amount of $55,000,000. The fund management agreement is for a
% % period of 3 years from 2012 to 2015. It was extended in 2015 by 3 years to 2018. The guarantee of the principal
sum will cease to apply and be extinguished with immediate effect:
NYP Ventures Pte Limited To commercialise technologies Singapore 100 100
in the Polytechnic and the (a) if there is any withdrawal from the portfolio or early termination before the expiry date; or
provision of technical and
consultancy services to (b) if the assets in the portfolio are dealt with in a manner that is inconsistent with, or which restricts,
businesses and industries detracts from or violates the powers and authorities conferred upon the fund manager under the
investment agreement.
Nanyang Polytechnic To provide education and training Singapore 100 100
International Private Limited services; undertake consultancy,
education and technology projects
in education and related areas;
establish and promote NYP brand
name internationally by exporting
NYPs capabilities, expertise
and experiences

94 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 95


NANYANG POLYTECHNIC
AND ITS SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2016 For the year ended 31 March 2016

9. SUNDRY RECEIVABLES, DEPOSITS AND PREPAYMENTS


7. INVESTMENT SECURITIES (contd)
Group Polytechnic
The government and corporate bonds held under held-to-maturity investment bear interest rates of 2.375% 2016 2015 2016 2015
to 4.75% (2015 : 2.375% to 4.60%) per annum and will mature after 1 year to more than 5 years. Interest is $000 $000 $000 $000
receivable on a semi-annual basis.
Financial assets
Investments managed by fund managers form part of the Polytechnic funds, which are administered by Sundry receivables, net of allowance 4,455 2,745 3,428 2,553
three external asset management financial institutions (fund managers). The fund managers are given Tuition fees 1,084 2,625 1,084 2,625
discretionary powers within certain guidelines to invest the funds. Deposits 699 369 690 360
Interest receivable 2,311 1,278 2,304 1,278
The categories of these investment securities and their carrying amounts are as follows: Amount due from subsidiary - - 571 396
Total financial assets 8,549 7,017 8,077 7,212
Group Polytechnic
2016 2015 2016 2015 Non-financial assets
$000 $000 $000 $000 Prepayments 2,142 1,718 2,142 1,718
Financial assets managed by fund Goods and services tax receivable 2,255 1,081 2,237 1,081
managers at fair value through 4,397 2,799 4,379 2,799
profit or loss:
Quoted securities 123,057 122,638 118,828 118,419 12,946 9,816 12,456 10,011
Capital guaranteed investments 59,020 59,602 59,020 59,602
182,077 182,240 177,848 178,021
Sundry receivables and the amount due from subsidiary are non-interest bearing and are generally on
Held-to-maturity investment: 30 to 90 days terms. They are recognised at their original invoice amounts which represent their fair values
Government and corporate bonds, on initial recognition.
at amortised cost 19,905 14,382 19,905 14,382
201,982 196,622 197,753 192,403 Receivables that are past due but not impaired

The Group has sundry receivables amounting to $1,904,000 (2015 : $950,000) that are past due at the end of
8. DEFERRED TAX ASSETS the reporting period but not impaired as management has assessed that there has not been a significant change
in credit quality and the amounts are still considered recoverable. These receivables are unsecured and the
Group analysis of their ageing at the end of the reporting period is as follows:

The components of deferred tax (assets)/liabilities are as follows: Group Polytechnic


Property, 2016 2015 2016 2015
plant and $000 $000 $000 $000
Provisions equipment Total Sundry receivables past due:
$000 $000 $000 Less than 30 days 843 650 838 650
30 to 60 days 742 197 742 192
At 1 April 2014 (25) 5 (20) 61 to 90 days 68 55 68 54
Recognised in profit or loss (Note 18) (3) (1) (4) More than 90 days 251 48 240 48
At 31 March 2015 (28) 4 (24) 1,904 950 1,888 944
Recognised in profit or loss (Note 18) 12 - 12
At 31 March 2016 (16) 4 (12)

96 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 97


NANYANG POLYTECHNIC
AND ITS SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2016 For the year ended 31 March 2016

9. SUNDRY RECEIVABLES, DEPOSITS AND PREPAYMENTS (contd) 11. GRANTS DUE FROM GOVERNMENT
Group and Polytechnic
The Groups and Polytechnics loans and receivables include the following financial assets: 2016 2015
$000 $000
Group Polytechnic
Note 2016 2015 2016 2015 Operating grants 16,878 17,080
$000 $000 $000 $000 Others 7,774 7,956
24,652 25,036
Sundry receivables and
deposits (current) 8,549 7,017 8,077 7,212
Cash and cash equivalents 10 287,259 258,549 276,080 246,864 12. SUNDRY CREDITORS AND ACCRUALS
Grants due from government 11 24,652 25,036 24,652 25,036
320,460 290,602 308,809 279,112 Group Polytechnic
2016 2015 2016 2015
$000 $000 $000 $000
10. CASH AND CASH EQUIVALENTS
Group Polytechnic Financial liabilities
2016 2015 2016 2015 Sundry creditors 8,768 4,870 8,728 4,826
$000 $000 $000 $000 Deposits 2,147 1,122 2,133 1,109
Accrual for purchase of property,
Current: plant and equipment 582 152 582 152
Cash at bank and in hand 12,013 19,613 6,334 8,428 Accruals 23,242 17,926 23,118 17,789
Fixed deposits 5,510 510 10 10 Amount due to subsidiary - - 92 90
Cash managed by the Total financial liabilities at amortised cost 34,739 24,070 34,653 23,966
Accountant-Generals Department 269,736 238,426 269,736 238,426
Cash and cash equivalents 287,259 258,549 276,080 246,864 Non-financial liabilities
Short-term accumulated
compensated absences 10,043 10,027 9,953 9,865
The Groups fixed deposits bear an average effective interest rates of 0.15% to 1.25% (2015 : 0.25%) per Goods and services tax payable 4 95 - -
annum for a tenure of 6 months to 12 months (2015 : 12 months). Management is of the view that the fixed 10,047 10,122 9,953 9,865
deposits qualify as cash and cash equivalents as these can be withdrawn at any time without penalty and with
insignificant changes in value. Sundry creditors and accruals 44,786 34,192 44,606 33,831

The Polytechnic manages 1 (2015 : 1) bank account on behalf of Nanyang Polytechnic Students Union and its
Constituent Clubs. As at end of the reporting period, cash at bank of $450,000 (2015 : $317,000) has not been The amount due to subsidiary is unsecured, interest-free, repayable on demand and expected to be settled in cash.
included in the cash and cash equivalents of the Group and Polytechnic.

98 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 99


NANYANG POLYTECHNIC
AND ITS SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2016 For the year ended 31 March 2016

13. GRANTS RECEIVED IN ADVANCE 14. DEFERRED CAPITAL GRANTS


Note Group and Polytechnic Note Group and Polytechnic
2016 2015 2016 2015
$000 $000 $000 $000

At 1 April 5,812 4,797 At 1 April 529,082 505,742


Grants received/receivable during the year: Grants recognised as deferred income:
- Government operating grants 216,285 215,674 - Government IT and F&E grants received 24,415 24,830
- Government development grants 3,852 33,037 - Government development grants 13 3,714 30,634
- Other grants 22,040 10,165 - Other grants 13,127 8,770
247,989 263,673 570,338 569,976
Transfer to deferred capital grants:
- Government development grants 14 (3,714) (30,634) Grants taken to statement of profit or loss and
- Other grants (299) (20) other comprehensive income:
- Government IT and F&E grants utilised (9,364) (5,183)
Amount taken to statement of profit or loss - Other grants utilised (7,465) (7,649)
and other comprehensive income: - Deferred capital grant amortisation-government (27,377) (24,624)
- Government operating grants (215,172) (214,581) - Deferred capital grant amortisation-other grants (3,336) (3,438)
- Government development grants (283) (2,152) At 31 March 522,796 529,082
- Other grants (16,688) (10,474)
At 31 March 11,833 5,812 Represented by:
- Grants utilised 467,037 474,772
- Grants not utilised 55,759 54,310
During the financial year, the Group and Polytechnic received a grant of $20,502,000 (2015 : $19,897,000) At 31 March 522,796 529,082
from the Ministry of Education to settle the outstanding goods and services tax payable to the Inland Revenue
Authority of Singapore and $3,475,000 (2015 : $2,736,000) of bursary for disbursement to the students during
the year. The Ministry of Education also provided $1,318,000 (2015 : $4,169,000) of matching endowment fund
donation grant and $109,000 (2015 : $117,000) for the Continuing Education Training Qualifications Award. 15. FUNDS MANAGED ON BEHALF OF OTHERS
These amounts are not included in the operating grants received from the government disclosed above. Group and Polytechnic
2016 2015
$000 $000

(i) Funds managed on behalf of Ministry of Education 10,883 11,118


(ii) Funds managed on behalf of Singapore Totalisator Board 2,252 2,252
13,135 13,370

The Polytechnic acts as an agent for the Ministry of Education to disburse staff and student loans. The Polytechnic
also administers the Opportunities Fund on behalf of the Ministry of Education and disburses notebook loans from
the Singapore Totalisator Board.

100 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 101


NANYANG POLYTECHNIC
AND ITS SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2016 For the year ended 31 March 2016

15. FUNDS MANAGED ON BEHALF OF OTHERS (contd) 15. FUNDS MANAGED ON BEHALF OF OTHERS (contd)

Loans given to students are interest-free until 1 June for borrowers who graduate in the first half of the year or (ii)
Funds managed on behalf of Singapore Totalisator Board
1 December for borrowers who graduate in the second half of the year. For those with National Service obligation,
interest charge will commence from the first day of the month immediately following the month they complete Notebook computer loans from Singapore Totalisator Board given to students are interest-free. Loans are
their National Service. Loans are repayable by monthly instalments with interest at 4.75% (2015 : 4.75%) per repayable in monthly instalments commencing 6 months after graduation or upon the graduate securing
annum, which is based on the average prime rates of banks or such other rates as may be determined by the employment, whichever is earlier.
Polytechnic from time to time.
Group and Polytechnic
Loans to staff consist of housing loans made in accordance with regulations of the Polytechnic. With effect from 2016 2015
January 2002, housing loan benefit is no longer provided and the unutilised grants as well as the repayment $000 $000
of these staff loans amounting to $8,535 (2015 : $9,000) were refunded to the Ministry of Education. Existing
housing loans will continue to be refunded. At 1 April and 31 March 2,252 2,252

The Opportunities Fund is provided to level up enrichment opportunities for Singapore Citizen students Represented by:
from lower-income households. This includes assistance for overseas trips, local and overseas enrichment Notebook computer loans 1,247 1,524
programmes and purchase of computer devices. The fund is provided on a 3-year cycle which ended in Cash and cash equivalents 1,005 728
December 2015. The unutilised amounts had been refunded to Ministry of Education at the end of the 3-year Net assets 2,252 2,252
cycle and fresh funds of $2,998,980 have been received for the next cycle from 2016 to 2018.

Group and Polytechnic 16. OTHER INCOME


2016 2015
$000 $000 The following items have been included in arriving at other income:
(i)
Funds managed on behalf of Ministry of Education
Group Polytechnic
At 1 April 11,118 11,091 2016 2015 2016 2015
Amount received during the year 5,238 2,429 $000 $000 $000 $000
Amount utilised during the year (1,038) (409)
Amount refunded during the year (4,433) (1,983) Foreign exchange loss (10) (74) (10) (74)
Amount written off during the year (2) (10) Fair value adjustment on
At 31 March 10,883 11,118 financial assets at fair value
through profit or loss (163) 7,945 (173) 7,740
Gain on disposal of property,
Represented by: plant and equipment 73 38 73 38
Staff loans 26 35 Interest income 3,411 2,144 3,403 2,143
Student loans 7,922 7,798
Sundry debtors 400 366
Sundry creditors (378) (180) Fair value adjustment on financial assets at fair value through profit or loss refers to the difference between the
Cash and cash equivalents 2,913 3,099 fair value of the financial assets and their carrying amounts as at 31 March 2016 and 2015. Included in the fair
Net assets 10,883 11,118 value adjustment is realised gain on disposal of investment securities amounting to $Nil (2015 : $88,000).

The cash and cash equivalents of $2,913,000 (2015 : $3,099,000) are held on behalf of the Ministry for the
purpose of extending student loans and to level up enrichment opportunities for Singapore Citizen students
from lower-income households.

102 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 103


NANYANG POLYTECHNIC
AND ITS SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2016 For the year ended 31 March 2016

17. (DEFICIT) SURPLUS BEFORE GRANTS 18. INCOME TAX EXPENSE (contd)

The following items have been charged (credited) in arriving at (deficit) surplus before grants: The reconciliation of the tax expense and surplus after grants multiplied by the applicable tax rate is
as follows:
Group Polytechnic Group
2016 2015 2016 2015 2016 2015
$000 $000 $000 $000 $000 $000

Write back of allowance for Surplus after grants 20,755 34,699


doubtful debts - (84) - (84)
Contribution to Central Provident Tax at the applicable tax rate of 17% (2015 : 17%) 3,528 5,899
Fund, included in salaries Effect of revenue exempt from taxation (3,431) (5,805)
and allowances 23,933 20,603 23,762 20,461 Effect of partial tax exemption (3) (28)
Rental income (Apartment) (1,697) (1,733) (2,782) (2,818) Effect of enhanced tax deduction (81) (37)
Tax rebate - (9)
Underprovision (Overprovision) of tax in prior years (6) 100
18. INCOME TAX EXPENSE 7 120
Group
2016 2015
$000 $000 Current year tax expense relates to taxation imposed on taxable income of the subsidiaries.

Income tax
- Current year 1 24 19. INCOME RECEIVED IN ADVANCE
- (Overprovision) Underprovision in prior year (6) 100 Group Polytechnic
(5) 124 2016 2015 2016 2015
Deferred tax (Note 8) $000 $000 $000 $000
- Origination and reversal of temporary differences 12 (4)
Fees received in advance 24,690 27,371 24,748 27,326
Tax expense 7 120

Represented by:
Current
- Student/Project fees 3,295 4,712 3,056 4,293
- Donations 1,935 1,742 2,232 2,116
- Service fees 637 637 637 637
5,867 7,091 5,925 7,046

Non-current
- Donations 1,160 1,980 1,160 1,980
- Service fees 17,663 18,300 17,663 18,300
18,823 20,280 18,823 20,280

24,690 27,371 24,748 27,326


104 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 105


NANYANG POLYTECHNIC
AND ITS SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2016 For the year ended 31 March 2016

19. INCOME RECEIVED IN ADVANCE (contd) 22. FINANCIAL INSTRUMENTS

The student/project fees received in advance are mainly student fees received in advance for the new financial (a) Financial risk management policies and objectives
year and income from projects and courses for course durations starting from April 2016.
Risk management is integral to the whole activities of the Group. The Group has a system of controls
Donations are mainly scholarship and bursary awards received in advance and will be disbursed to the student in place to create an acceptable balance between the cost of risks occurring and the cost of managing the
recipients in the new academic year starting from April 2016 (2015 : April 2015) and beyond. risks. The Group continually monitors its risk management process to ensure that an appropriate balance
between risk and control is achieved.
The Polytechnic received fees in advance from Singapore Institute of Technology (SIT) during the financial year
for the usage of the Polytechnics facilities by SIT students. The fees received in advance will only be recognised
as revenue when services are rendered by the Polytechnic in accordance to the service fee agreement between (i) Credit risk
the Polytechnic and SIT.
Credit risk is the potential loss resulting from the failure of a customer or a party to settle its financial and
contractual obligations to the Group, as and when they fall due.
20. CAPITAL COMMITMENTS
Group and Polytechnic Receivables that are neither past due nor impaired are creditworthy debtors with good payment record
2016 2015 with the Group. Cash and fixed deposits are placed with reputable banks and financial institutions.
$000 $000 Funds for investments are only placed with reputable fund managers.

Capital commitments approved by the Board and contracted Information regarding receivables that are either past due or impaired is disclosed in Note 9.
but not provided for 10,509 13,210
At the end of the reporting period, there is no significant concentration of credit risk. The maximum
exposure to credit risk is represented by the carrying amount of each financial asset in the statement of
The capital commitments are funded from government grants and general fund. financial position. The credit risk profile of the Group is as follows:

Group
21. KEY MANAGEMENT PERSONNEL COMPENSATION 2016 2015
$000 % of total $000 % of total
Key management personnel of the Group are those persons having the authority and responsibility for planning, By country:
directing and controlling the activities of the Group. The Principal/Chief Executive Officer (Polytechnic),
Chief Executive Officer (subsidiary), Deputy Principals, Senior Directors and Directors are considered as key Singapore 8,549 100 7,017 100
management personnel of the Group.

The key management personnel compensation is as follows: The cash with AccountantGenerals Department (AGD) under Centralised Liquidity Management
(CLM) is placed with reputable financial institutions and is available upon request.
Group Polytechnic
2016 2015 2016 2015
$000 $000 $000 $000

Short-term employee benefits 10,009 10,098 8,508 8,255


CPF contributions 515 380 459 330
10,524 10,478 8,967 8,585

106 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 107


NANYANG POLYTECHNIC
AND ITS SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2016 For the year ended 31 March 2016

22. FINANCIAL INSTRUMENTS (contd) 22. FINANCIAL INSTRUMENTS (contd)

(ii) Liquidity risk (vi) Fair value of financial assets that are carried at fair value

The Group monitors its liquidity risk and maintains a level of cash and cash equivalents deemed The following table shows an analysis of investment securities carried at fair value by level of fair
adequate to finance the Groups operations and to mitigate the effects of fluctuations in cash flow. value hierarchy:

Group
(iii) Interest rate risk Quoted prices
in active market
Interest rate risk is the risk that the fair value or future cash flows of the Groups financial instruments for identical
will fluctuate because of changes in market interest rates. instruments
(Level 1)
Interest rate sensitivity 2016 $'000

The sensitivity analysis below has been determined based on the exposure to interest rates for significant Financial assets (Note 7):
non-derivative instruments at the end of the reporting period and the stipulated change taking place Quoted securities managed by fund managers:
at the beginning of the financial year and held constant throughout the reporting period in the case of - unit trusts 123,057
instruments that have floating rates. Capital guaranteed investment managed by fund manager 59,020
At 31 March 2016 182,077
At the end of the reporting period, if the interest rate was 50 basis points (2015 : 50 basis points) higher/
lower with all other variables held constant, the Groups surplus for the year would have increased/
decreased by $1,349,000 (2015 : $1,192,000). 2015

Financial assets (Note 7):


(iv) Foreign currency risk Quoted securities managed by fund managers:
- unit trusts 122,638
Currency risk is the risk that the value of a financial instrument will fluctuate due to changes in foreign Capital guaranteed investment managed by fund manager 59,602
exchange rates. At 31 March 2015 182,240

The Polytechnic is not exposed to significant foreign currency risk as its transactions, financial assets
and liabilities are mainly denominated in Singapore dollars.

(v) Market price risk

The Group is exposed to market price risk arising from its investment in quoted instruments, which
are classified as financial assets at fair value through profit or loss. Certain investments are capital
guaranteed, subject to conditions.

At the end of the reporting period, if the fair value of the investment securities had been 10%
(2015: 10%) higher/lower with all other variables held constant, the Groups surplus for the year would
have increased/decreased by $18,208,000/$16,326,000 (2015: $18,224,000/$16,866,000).

108 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 109


NANYANG POLYTECHNIC
AND ITS SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2016 For the year ended 31 March 2016

22. FINANCIAL INSTRUMENTS (contd) 22. FINANCIAL INSTRUMENTS (contd)

Polytechnic (ii) Other financial assets and liabilities


Quoted prices
in active market The carrying amount of the Groups other financial assets and liabilities approximate their fair values
for identical due to the relatively short term nature of these financial instruments. The aggregate net fair values of
instruments recognised financial assets which are not carried at fair value in the balance sheet at 31 March are
(Level 1) represented in the following table:
2016 $000
Group and Polytechnic
Financial assets (Note 7): 2016 2015
Quoted securities managed by fund managers: Carrying Carrying
- unit trusts 118,828 amount Fair value amount Fair value
Capital guaranteed investment managed by fund manager 59,020 $000 $000 $000 $000
At 31 March 2016 177,848 Financial assets
Held-to-maturity government
and corporate bonds
2015 (Note 7) 19,905 18,877 14,382 14,590

Financial assets (Note 7):


Quoted securities managed by fund managers: The held-to-maturity government and corporate bonds are classified as level 1 in the fair value
- unit trusts 118,419 hierarchy as there are quoted bid prices in an active market.
Capital guaranteed investment managed by fund manager 59,602
At 31 March 2015 178,021
23. CAPITAL MANAGEMENT

Estimation of the fair values The primary objective of the Groups capital management is to ensure that it has adequate financial resources
to fund its operations. The Group obtains government grants through the Ministry of Education and other
(i) Investments in quoted securities managed by fund managers and capital guaranteed investment portfolio government agencies to fund its operational and capital requirements. Expenditures are monitored through
a budgetary control process. It also undertakes industrial projects. The Group manages its capital base in
Fair value is based on published market prices at the end of the reporting period without any deduction for consideration of current economic conditions and its plan for the year in concern. The Group is not exposed to
transaction costs. any external capital requirements.

The Group monitors capital using net assets value, which is made up of capital, accumulated surplus and the
Nanyang Polytechnic Education Fund. The Groups overall strategy remains unchanged from 2015. The net
assets value at 31 March 2016 and 2015 were as follows:
Group
2016 2015
$000 $000

Net assets 446,222 424,544

110 NANYANG POLYTECHNIC ANNUAL REPORT 2015/16 111


NANYANG POLYTECHNIC
AND ITS SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2016

24. RELATED PARTY TRANSACTIONS

Some of the Groups transactions and arrangements are with related parties and the effect of these on the
basis determined between the parties is reflected in these financial statements. The balances are unsecured,
interest-free and repayable on demand unless otherwise stated.

During the financial year, other than disclosed elsewhere in the financial statements, the following were the
related party transactions based on terms agreed between the parties:

Group Polytechnic
2016 2015 2016 2015
$000 $000 $000 $000

Between the Polytechnic


and its subsidiaries
Apartment rental, furnishing and
cleaning income - - (1,085) (1,085)
Project income - - (21) (45)
Programme and facilities income - - (574) (473)
Service fee income - - (164) (155)
Facilities rental income - - (133) (122)
Secondment income - - (212) -
Service fee expense - - 950 1,323
Donation received for Nanyang
Polytechnic Education Fund - - (214) (124)

112 NANYANG POLYTECHNIC


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