Annual Report 2016/17

The Color of Money The redevelopment provided our Finance, Purchasing and IT departments with opportunities to reassess processes and systems. The Finance team conducted a comprehensive review of fixed assets as The Club embarked on the redevelopment works – all new fixed assets were tagged and construction work-in-progress were capitalized upon the issuance of Certificates of Completion, while assets that were disposed of during the redevelopment were written off. In anticipation of the shift to a smaller temporary wine storage during the redevelopment, our Cost Control team worked with F&B to reduce the inventory of wines by a further 32% to $378,000 or 15.8% of annual wine sales. The Club’s wine turnover ratio improved to 3.35. Our Purchasing team also enhanced efficiency by reviewing contracts, conducting tender exercises and reducing The Club’s number of active vendors. This exercise allowed us to enjoy better price negotiating power and a cost savings of approximately 3.5% to 5.0%.

Our IT team was kept busy with the migration of our server to the Claymore building when the Scotts Road building was demolished in September 2016. They seamlessly moved all servers and equipment and got the POS, inventory and booking systems up and running ahead of schedule. That same month, they installed 18 faster-performing computers at the new Business Center at Level 3. Always looking for ways to innovate and create efficiencies, the IT team also spearheaded several new initiatives across The Club including implementing a new barcode system for merchandise at sên and Essentials, enabling faster

checkout for Members; creating an online library portal and installing UHF RFID technology to enable our Library team to perform book stock-take more efficiently; introducing a library self- check in and out kiosk to allow Members to self-transact book borrowing and returns, saving the Library 333 man-hours per month; and palletizing our purchase order workflow process to consolidate similar product purchases from various outlets into a single purchase order, reducing overall purchase requisitions and purchase orders by 25% and 45% respectively.

14 2016/17 ANNUAL REPORT