Introduction

Good afternoon! A very warm welcome to our SMF Lunar New Year Luncheon 2026.

As we celebrate the Year of the Horse, we reflect on what the Horse symbolises — vitality, endurance, momentum and purposeful movement. In Chinese tradition, we say:

龙马精神，马到成功。

May we carry this strength and clarity into the year ahead. Chinese New Year is not only a time of reunion and celebration — it is also a moment to reflect on our collective journey.

Reflecting on 2025: A Year of Partnership and Progress

Despite global uncertainties, Singapore’s manufacturing sector demonstrated resilience and adaptability. We saw meaningful recovery and renewed confidence across key segments.

At SMF, 2025/2026 was a year defined by collaboration and ecosystem-building.

• We successfully organised our 3rd Edition of our Flagship SMF Manufacturing Day Summit 2026, bringing together policymakers, industry leaders and international partners to discuss future-ready manufacturing. A key milestone was the launch of the JS-SEZ Playbook, providing companies with practical guidance for expansion into the Johor-Singapore Special Economic Zone.
  
  
• We also celebrated excellence at the SIMEA (Singapore Innovation and Manufacturing Excellence Award) Gala Dinner and Awards, recognising about 40 manufacturers and entrepreneurs who exemplify innovation, leadership and transformation.
  
  
• And importantly, last year marked a very special milestone for our nation — Singapore’s 60th anniversary. SMF was proud to jointly organise the SG60 Celebration and Gala Dinner with the Singapore Indian Chamber of Commerce & Industry (SICCI) where President Tharman graced the event. That evening was more than a celebration — it was a powerful reminder that Singapore’s success story has always been built on partnership between industries, communities, and generations of entrepreneurs.

As we honoured SG60, we also reaffirmed our responsibility to shape the next 60 years of industrial excellence. 

Navigating 2026: Uncertainty, Costs and Transformation

As we enter 2026, the global environment remains complex. Recent shifts in trade policies and tariffs have once again reminded businesses that uncertainty is becoming structural, not temporary. Even modest tariff adjustments can disproportionately impact price-sensitive and lower value-added segments of manufacturing.

At the same time, our members are managing rising business costs — manpower, energy, compliance — while also pursuing internationalisation and implementing AI transformation. This dual pressure — cost discipline and capability upgrading — defines the new operating reality.

But Singapore manufacturers are not standing still.

Budget 2026: Enabling Resilience and Upgrading

Singapore Budget 2026 provides a timely and strategic framework. The emphasis on workforce transformation, productivity enhancement, AI enablement, and internationalisation support speaks directly to what our members need:

• Support for managing manpower costs while maintaining quality jobs.
  
  
• Practical assistance for AI adoption and automation.
  
  
• Tools to diversify markets and strengthen supply chain resilience.
  
  

We deeply appreciate the close partnership with the Ministry of Manpower and other agencies in ensuring policies remain balanced — pro-worker and pro-business — because sustainable growth requires both.

Looking Ahead: What Members Can Expect from SMF

In 2026, SMF will continue translating policy into practical action.

• We are rolling out our CAIO-as-a-Service initiative, enabling companies — especially SMEs — to access fractional Chief AI Officers to guide structured, ROI-driven AI implementation.
  
  
• In March, together with A*STAR SIMTech and SMF AMTA, we will launch the Manufacturing Leadership Elevation Certificate Programme, equipping business leaders with the capabilities to drive transformation confidently.
  
  
• We will also introduce the JS-SEZ AI Chatbot, offering real-time guidance on regulatory frameworks, incentives, and cross-border expansion processes — lowering barriers to regional growth.

Beyond these initiatives, SMF will deepen collaboration with TACs, expand regional engagement platforms, and ensure that manufacturers navigating internationalisation have access to the right networks and support.

Our commitment is clear: To ensure no manufacturer is left behind in this era of transformation.

A Year of Smart Acceleration

The Year of the Horse reminds us that progress is not just about speed — it is about disciplined acceleration.

一马当先，马力全开。

Let us lead with confidence, move with agility, and support one another as we build a smarter, greener, and more resilient manufacturing ecosystem.

Closing

To our government partners, thank you for your continued collaboration.

To our members, thank you for your resilience and innovation.

To our sponsors and partners, thank you for powering today’s gathering and strengthening our ecosystem.

• A massive thank you to our Main Sponsor: GS1 Singapore, Gold Sponsor: Singtel, other valued sponsors: Infotech, Lenovo and Pudu Robotics, Netpoleon|
  
  
• Not forgetting our In-Kind Sponsors: Anantara, Global Product Technologies, Indoguna, Mdm Ling, MJ Wines, One Farrer Hotel, Starlite Printers (Far East), Tee Yih Jia and White Tiffin.

May 2026 bring clarity amid uncertainty, strength amid challenges, and new opportunities for growth.

祝大家新春快乐，身体健康，事业兴旺，万事如意。

Thank you and let us enjoy the celebration that the SMF Secretariat has prepared for you!