The American Club 2020/2021 Annual Report

29 PAGE

LOOKING AHEAD We expect the COVID-19 pandemic to be ongoing with reduced business volume. Management has prepared a 5-year Business Plan. The Club is now planned to be cash positive, pre-redevelopment final payments throughout each financial year from 2022 to 2026. Operational break-even is projected to be achieved by FY2026. Club reserves are expected to show a significant improvement over the 5 year period. This business plan was approved by the General Committee on 3 rd May 2021.

Management will continue to explore new initiatives and leverage on the new ERP Project to digitalize processes for increased productivity and efficiency.

THE AMERICAN CLUB SINGAPORE