The American Club 2022/2023 Annual Report

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Looking Ahead We expect the year ahead to remain volatile. Geopolitical and economic uncertainties will likely result in continued inflationary pressure, driving food and fuel prices higher. With ongoing labor shortages and government restrictions on the foreign worker quota, payroll cost will continue to rise. With the arrival of a new Assistant Director of Information Technology and through our digital transformation initiatives, Management will leverage on the new enterprise resource planning (ERP) systems with mobile app capabilities and other innovative technologies to further enhance operational efficiencies and increase productivity. Barring the unexpected energy rate hike from July 2022, the Club’s operating results and Club Reserves outperformed its Five-Year Business Plan (FY2022 to FY2026) that was approved by the General Committee on May 3, 2021. In times of extraordinary changes, we remain committed to achieving operational break-even by FY2026 and to show significant improvement in Club Reserves over the next three-year period.

One Club, One Team!

THE AMERICAN CLUB SINGAPORE ANNUAL REPORT 2022 / 2023