The American Club 2022/2023 Annual Report

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MEMBERSHIP

FY2022

FY2023

FY2015

FY2016

FY2017

FY2018

FY2020 FY2019

FY2021

364 4,983 0

450 7,498 326

Number of New Membership Entrance Fee (S$’000) Redevelopment Payments (S$’000)

309 4,230 1,422

337 3,225 12,005

422 4,132 29,917

259 2,855 17,509

365 4,618 1,994

455 7,710 156

515 7,445 42

Entrance Fee (S$'000) & Closing Membership

9,000

3,100 3,150 3,200 3,250 3,300 3,350 3,400 3,450 3,500 3,550 3,600

7,498

7,710

7,445

8,000

7,000

6,000

4,983

4,618

5,000

4,230

4,132

3,225

4,000

2,855

3,000

2,000

1,000

3,569

3,440

3,314

3,325

3,276

3,316

3,398

3,509

3,558

FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 0

Closing Membership

Entrance Fee (S$'000)

Actual

FY2015

FY2016

FY2017

FY2018

FY2020 FY2019

FY2021

FY2022

FY2023

As at end

101,113 3,569

31,893 3,558

Total Reserves (S$’000) No. of Closing Memberships

100,513 3,440

85,626 3,314

54,826 3,325

29,385 3,276

22,753 3,316

28,416 3,398

30,685 3,509

The Club enjoyed strong demand for Term Membership, largely due to the relocation of expatriates from Hong Kong as a result of their Zero-COVID-19 Policy, as well as an influx of family offices into Singapore. To align with the strategic vision of offering a world-class experience, the General Committee voted to close Term Membership intake in January 2023 and create a waitlist for potential Term Members in order to avoid compaction. The Club therefore attracted a total of 450 new Members in FY2023. This total is 65 lower than the 515 new Members who joined in FY2022 and 86 more than those who joined in FY2015, pre-redevelopment. This increase in new Members helped to generate entrance fees of $6.57 million in FY2023. Additionally, the Club successfully admitted the remaining 15 limited release of Non- transferable Associate Members, bringing the total entrance fees in FY2023 to $7.50 million.

THE AMERICAN CLUB SINGAPORE ANNUAL REPORT 2022 / 2023