Stepping up for mental health. Leading the way in corporate giving. ANNUAL REPORT

Transcription

1 Stepping up for mental health. Leading the way in corporate giving ANNUAL REPORT

2 MINDSET Care Limited ( MINDSET ) is the Jardine Matheson Group s philanthropic initiative and registered charity to make a difference in the area of mental health. MINDSET was established in Singapore on 13th May 2011 as a company limited by guarantee with its governing instrument being its constituition. MINDSET Care Limited Company No C 239 Alexandra Road Singapore Tel: (65) Fax: (65) mindsetsingapore mindsetsingapore

3 01 CONTENTS ANNUAL REPORT Chairman s Message 04 About MINDSET 06 Corporate Information Highlights 09 Programmes & Activities Awareness & Outreach Back to the Workforce Social Enterprise Fund Raising Fund Allocation Fun Days 17 Our Jardine Ambassadors 19 Code of Governance 22 Reserves Policy 22 Financial Statements

4 02 Chairman s Message ALEX NEWBIGGING We started 2018 with enthusiasm and determination to do even more for the mental health community after an exciting MINDSET is a philanthropic initiative started by the Jardine Matheson Group ( the Group ) in Hong Kong in Recognising that the Singapore mental health community is similarly in need of support, particularly from the private sector, MINDSET Care Limited ( MINDSET ) was established in Singapore in Mental health is increasingly gaining momentum with global public figures coming forth to talk about it. This is indeed encouraging but at the same time, reminds us of the support this community requires. We believe that MINDSET cannot be alone in this journey and were thus heartened when the Jardine Matheson Group was invited to participate in the Company of Good Fellowship programme by the National Volunteer & Philanthropy Centre and the National University of Singapore. This programme seeks to develop a community of corporate leaders to strengthen the corporate giving ecosystem in Singapore. Being involved in this programme will enable us to start more conversations on mental illness, share and influence different stakeholders, and in turn lay the building blocks for the private sector to better contribute towards the neglected and underserved mental health cause. Apart from awareness and understanding, which are key ingredients to reducing social stigma associated with mental illness, we also aim to deliver tangible impact through a variety of efforts. In 2017, our flagship MINDSET Learning Hub ( MLH ), which was set up in partnership with the Singapore Association for Mental Health ( SAMH ), provided job training for people recovering from mental health conditions. Since MLH was launched in October 2016, it has trained 194 mental health clients and provided 109 job placements. MLH is Singapore s first and only job training and placement centre dedicated to providing Workforce Skills Qualifications ( WSQ ) certification to mental health clients. At MLH, clients are also provided with non-wsq training such as resume writing and interview skills. This gives the clients more confidence and skillsets as they begin their journey to reintegrate into the workforce. During the year, our employee volunteers, the Jardine Ambassadors, also helped to open the MLH Café located within the premises of MLH. The café serves as a useful platform to raise awareness on mental health and the training opportunities available at MLH.

5 03 MINDSET ANNUAL REPORT 2017 Besides MLH Café, our Jardine Ambassadors also worked hard to implement other initiatives. In 2017, they sourced a total of 39 job placements for mental health clients within the Jardine Matheson Group. They also collaborated with mental health partners to develop new job skills training programmes to enhance clients employability. In 2017, MINDSET continued to give its support to the Singapore Mental Health Conference. We shared about Enabling Reintegration into the Workforce through Job Skills Training, targeted at helping to reduce social stigma attached to mental illness. We believe that we should talk more openly about mental illness and it is heartening to know that 73% of our people surveyed are aware of MINDSET and its objectives. Internally, we are exploring new means of communications such as Workplace by Facebook to raise greater awareness. New initiatives from the Group included Guardian Health & Beauty collaborating with the Singapore Anglican Community Services to produce toiletries sets where sales proceeds went towards providing some income to clients. MINDSET is also one of the beneficiaries which will receive monies raised from more than 1,000 donation boxes in over 650 stores islandwide under Dairy Farm Singapore. On behalf of MINDSET, I would like to express my gratitude to everyone who has supported MINDSET and mental health in one way or another. Thank you to Dr Amy Khor, Senior Minister of State for the Ministry of Health and Ministry of the Environment and Water Resources, all our mental health partners, particularly, Singapore Association for Mental Health for the successful collaboration on MLH, as well as our business associates who have generously contributed to MINDSET. I would also like to give my appreciation to the MINDSET Steering Committee and sub-committees, our external and internal advisors, auditors and legal advisors for their continued invaluable support. I look forward to sharing more MINDSET successes in the mental health community with you. Alex Newbigging Chairman 22nd March 2018 The MINDSET Challenge & Carnival raised a record amount of over S$394,000 for MLH in The event attracted over 200 race participants running up the 33 floors of the Marina Bay Financial Centre, Tower 1. The event also saw 2,000 carnival-goers comprising Jardine employees, business associates, families and friends, as well as over 300 clients and guests from Singapore s mental health Voluntary Welfare Organisations ( VWOs ). Besides raising funds, the event provided a platform for employees to interact with mental health clients over food, games and craft workshops. Through different efforts, the Group has pledged and donated over S$5 million* towards various mental health programmes since 2011 not an insignificant contribution to the mental health community. We ended the year receiving our second consecutive Charity Transparency Award from the Charity Council for exemplary disclosure standards. Our achievements and efforts would not have been possible without the support from the Jardine Matheson Group companies as well as the passion and dedication of our Jardine Ambassadors ( JAs ). * As at December Includes contributions to MINDSET.

6 04 About MINDSET Vision MINDSET aims to change attitudes by raising awareness and understanding of mental health issues, as well as provide direct and tangible assistance for individuals, families and organisations in need of help. Objectives MINDSET was established to extend the work of the Jardine Matheson Group s Hong Kong registered mental health charity, MINDSET Limited, to Singapore insofar as such work is in line with the country s mental health policy. This is achieved by raising the awareness and understanding in Singapore of mental health issues, and by so doing, changing attitudes towards mental health. MINDSET also supports individuals, families and organisations in Singapore that require assistance in connection with mental health-related matters. Participating Jardine Matheson Group Companies in 2017 Dairy Farm Singapore Cold Storage; Giant; 7-Eleven; and Guardian Health & Beauty Gammon Private Limited Hongkong Land (Singapore) Pte Ltd Jardine Cycle & Carriage Limited; Cycle & Carriage Singapore Jardine Engineering (Singapore) Pte Ltd Jardine Lloyd Thompson Pte Ltd Jardine Matheson (Singapore) Ltd JOS; Innovix Distribution Mandarin Oriental, Singapore MCL Land Limited Schindler Lifts (Singapore) Pte Ltd

7 05 MINDSET ANNUAL REPORT 2017 Awareness & Outreach (previously known as Education & Communications) To raise awareness and reduce the stigma associated with mental health issues through events, campaigns and communication collaterals. Back to the Workforce To promote social and community acceptance through reintegration and to source for relevant job openings and work training opportunities within and outside of the Jardine Matheson Group. Social Enterprise To assist mental health clients generate a source of income through profit-generating business activities. $ $ Fund Raising To raise funds through community and corporate engagement and partnership. Fund Allocation $ To allocate contributions from Jardine Matheson Group companies, alongside other funds raised by MINDSET activities, by evaluating incoming sponsorship or donation requests from VWOs as well as projects and programmes in Singapore that provide services to enhance the mental health of the community.

8 06 Corporate Information Corporate information as at 22nd March 2018 BOARD OF DIRECTORS AUDIT COMMITTEE Appointed 12th June 2012 STEERING COMMITTEE Alex Newbigging (Chairman) Appointed 25th April 2012 Robert Garman Appointed 13th May 2011 Lee Liang Whye Appointed 3rd September 2015 Alex Newbigging (Chairman) Boon Yoon Chiang Alex Newbigging (Chairman) Appointed 12th June 2012 Robert Garman (Vice-Chairman) Appointed 12th June 2012 Boon Yoon Chiang Appointed 12th June 2012 Sarah Boyd Appointed 10th December 2015 Warren Downey Appointed 17th August 2015 Steven Foster Appointed 21st August 2014 Tan Hee Wee Appointed 2nd September 2016 Mark Herbert Stepped down 22nd March 2018 Jess Lam Appointed 12th June 2012 Lee Liang Whye Appointed 23rd June 2014 Sarvesh Malhotra Appointed 2nd March 2017 Neil McNamara Stepped down 22nd March 2018 Esther Wong Appointed 22nd March 2018

9 07 MINDSET ANNUAL REPORT 2017 FUND ALLOCATION SUB-COMMITTEE INTERNAL ADVISORS COMPANY SECRETARY Alex Newbigging (Chairman) Boon Yoon Chiang Jon Button Robert Garman Jeffery Tan Neil McNamara 1 Esther Wong Dr Ng Koon Hock 2 Dr Dr Ken Ung JARDINE AMBASSADORS SUB-COMMITTEE Sarah Boyd (Chairman) Alex Newbigging Lee Liang Whye Awareness & Outreach team (previously known as Education & Communications Team) Steven Foster Back to the Workforce team Sarah Boyd Social Enterprise team Warren Downey Fund Raising team Cindy Teo Human Resource Advisor Joey Ho Communications Advisor EXTERNAL ADVISORS Jeffery Tan Appointed 2016 HONORARY TREASURER Lee Liang Whye Appointed 2017 HONORARY AUDITORS PricewaterhouseCoopers LLP HONORARY LEGAL ADVISORS Allen & Gledhill LLP Dr Daniel Fung Chairman, Medical Board Institute of Mental Health Dr Ng Koon Hock 2 Psychiatrist The Psychotherapy Clinic for Adults and Children Dr Ken Ung Psychiatrist & Psychotherapist Pacific Healthcare Holdings & Adam Road Medical Centre Jon Button 1 2 Stepped down 22nd March 2018 Stepped down 7th September 2017

10 Highlights Pledged and donated over S$5 million* to mental health programmes since 2011 Raised over S$394,000 at The MINDSET Challenge & Carnival 2017 Trained 194 mental health clients and provided 109 job placements through MINDSET Learning Hub since October 2016 Won Charity Transparency Award conferred by the Charity Council for the second consecutive year Invited to and participated in the prestigious Company of Good Fellowship programme by the National Volunteer & Philanthropy Centre ( NVPC ) and the National University of Singapore Recorded more than 6,400 volunteer hours by Jardine Ambassadors * Includes contributions to MINDSET.

11 09 MINDSET ANNUAL REPORT 2017 Programmes & Activities MINDSET s efforts are focused in the areas of: Awareness & Outreach (previously known as Education & Communications) Back to the Workforce Social Enterprise Fund Raising Fund Allocation MINDSET s activities and initiatives are driven and implemented by employee volunteers, known as Jardine Ambassadors. They are assigned to different teams to focus on spearheading the distinct initiatives set out. Since 2011, the Jardine Matheson Group has donated over S$5 million* to mental health programmes and initiatives. * Includes contributions to MINDSET.

12 10 Awareness & Outreach Brought together almost 200 clients and 170 employees at Mini-MINDSET Days to strengthen acceptance of mental health, internally. The Awareness & Outreach team aims to destigmatise mental illness by raising internal and external awareness through organising awareness outreach events, developing communication collaterals and creating interaction opportunities with mental health clients to promote social acceptance. The team organised two Mini-MINDSET Days for almost 200 mental health clients from five VWOs and another 170 Jardine employees from across 11 business units. Employees and clients interacted through activities such as creating 3D wooden puzzles and learning Leaf Line Illustrations. These interactions provided the opportunity for employees to gain a better understanding of mental illness. A total of three lunchtime mental awareness sharing sessions were also held at Jardine companies to reinforce the message. Other awareness and outreach events organised included participating in the Singapore Mental Health Conference 2017 and events such as Jardine Golf Day, JLT Asia Strategic Partners Cocktail, Guardian Service Day, 7-Eleven Network Brief and Cold Storage Day, to share more about mental health with our business community. The continuous outreach generated greater interest in MINDSET and its efforts. An awareness survey conducted during the year reflected a 73% understanding of MINDSET, with over 50% awareness on MINDSET s annual fund raising event, the MINDSET Challenge & Carnival and close to 50% have donated to the cause. The survey sample size was more than 1,000 respondents from across the Jardine Matheson Group. The large-scale MINDSET Challenge & Carnival 2017 saw over 2,000 attendees comprising employees, business associates, families and friends, including approximately 300 clients, who turned up to support the mental health cause. MINDSET participated in the Singapore Mental Health Conference 2017 and shared about Enabling Reintegration into the Workforce through Job Skills Trainings.

13 11 MINDSET ANNUAL REPORT 2017 Back to the Workforce Sourced 39 job placements within the Jardine Matheson Group for mental health clients. The Back to the Workforce team aims to promote social and community acceptance of people with mental illness through social reintegration by sourcing for relevant job attachments and training opportunities for clients within the Jardine Matheson Group. These efforts are aimed at supporting mental health clients in building their work experience. In 2017, the team successfully placed 39 clients. Since 2011, a total of 122 clients had been placed in a variety of roles across the Group. To prepare Jardine companies for placements, a mental wellness workshop as well as follow-up sharing sessions with Human Resource representatives were organised to provide employees the appropriate knowledge to work and interact with people with mental illness. In addition to job placements, Jardine Ambassadors also actively seek innovative and effective ways to help integrate mental health clients back into the workforce. Efforts include job site visits that introduce clients to different work environments, employment skills trainings to develop clients soft skills for job sustainability and sharing sessions with VWOs to better understand the needs of the clients and to gather feedback for improvements. During the year, a total of 31 site visits to 7-Eleven and Cold Storage outlets, three employment skills trainings and two VWO sharing sessions were organised. Jardine Ambassadors provided various job skills trainings to mental health clients to enhance their job sustainability.

14 12 Social Enterprise Generated total revenue of S$28,200 through income-generating initiatives. The Social Enterprise team aims to assist mental health partners and clients gain sources of income through profit-generating business activities. The MINDSET Pop-Up Store in CityLink Mall, which retailed handicraft products made by mental health clients closed in April From November 2015 to April 2017, the store provided clients with first-hand retail experience and opportunities to interact with the public. The store generated a revenue of over S$105,000, benefitting more than 300 clients. With its closure, the Social Enterprise team focused on helping to set up MLH Café at MINDSET Learning Hub ( MLH ). Located in Jurong East, MLH Café serves as a touchpoint for the public to learn more about mental illness. It also serves as a useful platform offering training opportunities for clients undergoing the WSQ food hygiene course under the guidance of a certified trainer. Since its opening in June, the café has generated a revenue of some S$10,000. A new social enterprise initiative was the collaboration between Guardian Health & Beauty and the Singapore Anglican Community Services ( SACS ) to design a travel toiletries pouch to raise funds for mental health clients. The pouch included a Thank You postcard designed by clients to remind individuals on mental wellness and to thank caregivers and volunteers. The pouches were for sale in over 60 Guardian outlets. The team closed 2017 with a Shelf Project during the year-end festive period. Shelf Projects are social enterprise initiatives that provide complimentary retail space for sale of mental health clients products. Products were sold at 10 7-Eleven outlets across Singapore benefitting 20 clients from SACS. Other projects included partnering Mandarin Oriental, Singapore and Simei Care Centre to produce over 300 pieces of wedding favours, as well as collaborating with Zhenghua Secondary School Entrepreneur Club and SAMH to place clients products for sale in the school. MLH Café generated a revenue of S$10,000 since its opening in June 2017.

15 13 MINDSET ANNUAL REPORT 2017 Fund Raising Raised over S$394,000 at The MINDSET Challenge & Carnival The Fund Raising team initiates and organises events and activities to raise funds for selected mental health projects with objectives in line with MINDSET s. In 2017, funds raised were channelled to MLH, MINDSET s flagship project in collaboration with Singapore Association for Mental Health ( SAMH ). The centre aims to help people recovering from mental illness reintegrate into the workforce through trainings as well as job placement opportunities. MLH is the first and only employment training centre to work with various training partners to provide WSQ courses tailored for people with mental illness. MINDSET s signature fund raising effort is the annual MINDSET Challenge & Carnival. In its sixth year, the event raised over S$394,000 for MLH. The event comprised a vertical race up the 33-floor Marina Bay Financial Centre ( MBFC ), Tower 1, and a carnival at The Marina Bay. In 2017, over 200 race participants ran up 33 floors of the MBFC Tower 1. In addition, a Fun Run segment that comprised obstacle courses and a 10-floor dash up the building, was introduced to encourage participation from non-competitive racers. Across at The Marina Bay, 2,000 attendees including Jardine employees, family and friends, business associates, as well as clients and representatives from five VWOs in Singapore, attended the event. Carnivalgoers enjoyed a day of fun with food & beverages, free games and craft workshops, stage performances and attractive lucky draw prizes. The carnival provided a common platform for clients and Jardine employees to interact and raise awareness on mental health. In the last five years, The MINDSET Challenge & Carnival has raised some S$1.7 million. A record amount of S$394,000 was raised during the MINDSET Challenge & Carnival 2017 for MINDSET Learning Hub.

16 14 Fund Allocation MINDSET receives contributions from the Jardine Matheson Group ( the Group ) of companies in Singapore to run its activities to help raise awareness of mental health issues and provide assistance to persons suffering and recovering from mental illnesses and their families. In addition to the activities it organises, MINDSET also acts as a facilitator for the Group by pooling funds contributed by Group companies and channelling them directly to selected charitable organisations that share similar objectives with MINDSET, alongside any funds raised through the community, corporate engagements and partnerships and public fund raising by MINDSET. This enables sponsors to receive tax deduction benefits, where available. In 2016, MINDSET partnered Singapore Association for Mental Health to launch MINDSET Learning Hub, Singapore s first and only job training and placement centre that offers Workforce Skills Qualifications training to people recovering from mental health issues with a S$2 million pledge over a five-year period from the Group. The centre aims to promote the social reintegration of people with mental health issues through employment. To date, MINDSET has disbursed some S$1 million, of which a total of S$0.6 million was raised through the MINDSET Challenge & Carnival events in 2017 and In its second year, the MINDSET Learning Hub trained 164 mental health clients and provided 91 placements in the workforce, bringing the respective numbers to 194 and 109 since the launch of the centre in October Since the establishment of MINDSET in 2011, annual pledges and, ad hoc contributions from the Group have allowed MINDSET to channel donations totalling S$2.1 million in support of the various mental health projects undertaken by our partner VWOs. Through The MINDSET Challenge & Carnival event, an annual vertical race up 33 floors of MBFC Tower 1, some S$1.7 million has also been raised and donated to our partner VWOs. In the past six years, the Group, its business associates and employees have donated over S$5 million* to mental health programmes and initiatives. * Includes contributions to MINDSET.

17 15 MINDSET ANNUAL REPORT 2017 Fun Days Engaged 118 clients and caregivers at four Fun Days. Every year, MINDSET organises outings and activities that provide opportunities for clients of mental health organisations to interact with the public. These Fun Days also provide the clients caregivers the opportunity to take a break from their routine caregiving duties. Four Fun Days were held in 2017 and a total of 118 clients and caregivers participated. Activities included: MAR Creating personalised shrink plastic keychains 22 participants including nine clients from Club HEAL and SAMH, as well as 13 MINDSET representatives made personalised shrink plastic keychains at the Mercedes-Benz Center. With the guidance of a workshop instructor, participants personalised their keychains in the most creative fashion. Apart from bringing home their personalised hand-made keychains, participants brought back a thoughtful goodie bag. All attendees enjoyed the new experience and were pleased with their hand-made creations. MAY A visit to the Jurong Bird Park 43 mental health clients and representatives from the Institute of Mental Health, together with 19 MINDSET representatives visited the Jurong Bird Park, one of Singapore s famous tourism attractions. Attendees started the day with an ice-breaker session and a tour around the park before enjoying two shows, the High Flyers and King of the Skies. Other highlights included visiting the Penguin Cave to watch a feeding session as well as taking a walk to the majestic waterfall located within the park. Feedback from the Institute of Mental Health Clients were happy as Jardine Ambassadors went the extra mile to ensure a smooth experience for them.

18 16 SEPT Customising hand-crafted soap 48 attendees, including 33 clients and caregivers from SAMH and 15 MINDSET representatives, spent a day learning how to make handcrafted soap. Participants were introduced to the history of soap-making as well as basic knowledge of customised soap compared to factory-made soap. Everyone had the opportunity to make two types of soap, and could customise their soaps with essential oils, natural minerals and flower petals. Clients were delighted with the interesting experience. Feedback from a client The workshop is interactive and fun. The duration is just right (to make the experience a) fruitful one. Everyone got to bring their handmade soap home. NOV A visit to Hay Dairies Goat Farm and Bollywood Veggies 30 clients and representatives from the Institute of Mental Health, together with 15 MINDSET representatives, gathered for a visit to Hay Dairies, Singapore s only goat farm, and Bollywood Veggies, an organic farm. The Hay Dairies visit comprised an introduction to the goat farm and benefits of goat milk, followed by a tour of the farm, where attendees had the opportunity to feed and pat goats, and tasted chocolate goat milk. Clients and MINDSET representatives then headed to the nearby Bollywood Veggies where they were given a guided tour of the farm, touching and smelling different herbs and plants, and acquiring general knowledge on plants. Lunch was served at the farm s very own restaurant where attendees experienced farm-to-table dining.

19 17 MINDSET ANNUAL REPORT 2017 Our Jardine Ambassadors A Programme Driven by Employee Volunteers, Jardine Ambassadors MINDSET activities and initiatives are implemented by employee volunteers from across the Jardine Matheson Group. Known as Jardine Ambassadors ( JAs ), these energetic and dedicated talents actively contribute to the mental health community by executing MINDSET initiatives, from concept development to implementation. As a Group, we are committed to developing our people. Through the programme, we put in place initiatives that give JAs opportunities to enhance competencies such as project management and internal and external influencing abilities, skillsets that will support their professional development as well as provide them a rewarding career with us. We believe in developing JAs during their time with MINDSET. Various trainings and workshops are also organised to sharpen their personal and professional skills, as well as their ability to help those with mental health issues. All new JAs undergo Mental Health First Aid, learning to recognise signs and symptoms of different mental illness as well as be equipped with first aid skills to help individuals with mental illness. The JAs also undergo Orientation, Team Building and Project Management course targeted at their professional development and to prepare them for the year ahead. The senior JAs honed their Leadership, Influencing and Presentation Skills as these are crucial in their second year with MINDSET. JAs serve a two-year tenure with MINDSET. Those who have completed their stint continue their involvement in MINDSET as Friends of Ambassadors. As part of our continuous enhancement to the JA Programme, several initiatives were rolled out in 2017 to develop and recognise our dedicated employee volunteers. JAs, past and present, received a specially-designed JA collar pin. A unique Changemaker signature was also introduced as a form of differentiation and recognition for their contribution to the mental health community.

20 18 Jardine Ambassadors of the Quarter To ensure that we support and review the time and effort contributed, MINDSET Team Advisors provided quarterly feedback on each JA s individual performance to their immediate supervisors. To recognise exceptional JAs who performed above and beyond their duties, the JA of the Quarter was introduced. Lincoln Lee Fund Raising Team Assistant Manager, Human Resource, Dairy Farm Singapore As the Fund Raising Team Leader, Lincoln led the team to achieve a record high of S$394,000 raised at The MINDSET Challenge & Carnival Recounting her experience and journey as a Jardine Ambassador, she found most memorable, Driving fun and new fund raising initiatives with fellow JAs, and knowing that these efforts will help mental health beneficiaries. Chua Yuan Pin Social Enterprise Team Assistant Manager, Mitsubishi Sales, Cycle & Carriage Singapore Yuan Pin stepped up to lead The MINDSET Challenge & Carnival 2017 organising committee and ensured that the two distinct activities flowed seamlessly as one event. Despite months of intensive planning and work, when everything came into place, the sense of achievement at the end, was unparalleled. He also shared that it is important to make the active decision to contribute to MINDSET and improve lives. Chu Ting Feng Fund Raising Team Assistant Manager, Mercedes-Benz Aftersales Operations, Cycle & Carriage Singapore Heading the logistics team for the vertical race at The MINDSET Challenge & Carnival 2017, Ting Feng was instrumental in the success of the event. He joined the JA Programme to help make mental health clients feel that they are not forgotten by the society. Juggling between work and JA duties may be challenging, but Ting Feng managed to strike a fine balance between the two. Seet Yong Seng Back to the Workforce team Manager, Operations Excellence, 7-Eleven, Dairy Farm Singapore Yong Seng was an avid volunteer during his teens and actively participated in community services. In 2017, he helped 29 clients secure positions within 7-Eleven, bringing the total number of positions across the group to an impressive 39. Knowing that I have made a difference in someone s life is heartening, especially when clients are able to find open employment after the support they received from MINDSET.

21 MINDSET ANNUAL REPORT Code of Governance MINDSET Care limited Governance evaluation checklist for basic II tier Period: 1st January 2017 to 31st December 2017 S/No. Code Description Code ID. Compliance Explanation (if the Code guideline is not complied to or not applicable) BOARD GOVERNANCE A Are there Board members holding staff appointments? (Skip items 1 and 2 if No ) No 1 If the governing document permits paid staff to become Board members, they should comprise not more than one-third of the Board Not Applicable No employed staff 2 Staff does not chair the Board Not Applicable No employed staff 3 There is a maximum term limit of four consecutive years for the Treasurer position (or equivalent e.g. Finance Committee Chairman) Complied 4 The Board has an audit committee (or designated Board members) with documented terms of reference Complied 5 The Board meets regularly with a quorum of at least one-third or at least three members, whichever is greater (or as required by the governing document) Complied

22 20 S/No. Code Description Code ID. Compliance Explanation (if the Code guideline is not complied to or not applicable) CONFLICTS OF INTEREST 6 There are documented procedures for Board members or paid staff to declare actual or potential conflicts of interest to the Board. 2.1 Complied 7 No Board member or staff is involved in setting his or her own remuneration. 2.2 Not Applicable No employed staff 8 Board members do not vote or participate in decision making in the matters where they have a conflict of interest. 2.4 Complied STRATEGIC PLANNING 9 The Board reviews and approves the vision and mission of the charity. They are documented and communicated to its members and the public Complied HUMAN RESOURCE MANAGEMENT 10 The Board approves documented human resource policies for staff. 5.1 Not Applicable No employed staff FINANCIAL MANAGEMENT AND CONTROLS 11 The Board ensures internal control systems for financial matters are in place with documented procedures Complied 12 The Board ensures reviews on the charity s controls, processes, key programmes and events Complied 13 The Board approves an annual budget for the charity s plans and regularly monitors its expenditure Complied 14 The charity discloses its reserves policy in the annual report Complied

23 MINDSET ANNUAL REPORT S/No. Code Description Code ID. Compliance Explanation (if the Code guideline is not complied to or not applicable) B Does the charity invest its reserves? (Skip item 15 if No ) Yes 15 The charity invests its reserves in accordance with an investment policy approved by the Board. It obtains advice from qualified professional advisors, if deemed necessary by the Board Not Applicable There is no investment policy. Instead, all investments of reserves are approved, confirmed and/ or ratified by the Board. FUND RAISING PRACTICES 16 Donations collected are properly recorded and promptly deposited by the charity Complied DISCLOSURE AND TRANSPARENCY 17 The charity makes available to its stakeholders an annual report that includes information on its programmes, activities, audited financial statements, Board members and executive management. 8.1 Complied PUBLIC IMAGE 18 The charity accurately portrays its image to its members, donors and the public. 9.1 Complied

24 22 Reserves Policy MINDSET seeks to maintain a reserve of one year s operating costs. The amount of reserves will be regularly reviewed by the Board of Directors to ensure that they are adequate to meet its operating needs and continuing obligations. Financial Statements The Financial Statements for the financial year ended 31st December 2017 are enclosed.

25 MINDSET CARE LIMITED (Incorporated in Singapore. Registration Number: C) FINANCIAL STATEMENTS For the financial year ended 31st December 2017

26 MINDSET CARE LIMITED (COMPANY LIMITED BY GUARANTEE) (Incorporated in Singapore) FINANCIAL STATEMENTS For the financial year ended 31st December 2017 Contents Page Directors Statement 1 Independent Auditor s Report 3 Statement of Financial Activities 7 Balance Sheet 8 Statement of Cash Flows 9 Notes to the Financial Statements 10

27 MINDSET CARE LIMITED DIRECTORS STATEMENT For the financial year ended 31st December 2017 The directors present their statement to the members together with the audited financial statements of MINDSET Care Limited (the Charity ) for the financial year ended 31st December In the opinion of the directors, (a) (b) the financial statements as set out on pages 7 to 17 are drawn up so as to give a true and fair view of the financial position of the Charity as at 31st December 2017 and the financial performance, changes in equity and cash flows of the Charity for the financial year covered by the financial statements; and at the date of this statement, there are reasonable grounds to believe that the Charity will be able to pay its debts as and when they fall due. Directors The directors in office at the date of this report are as follows: David Alexander Newbigging Robert Lambard Garman Lee Liang Whye Directors Interest As the Charity is limited by guarantee and has no share capital, none of the directors holding office at the end of the financial year had any interest in the capital of the Charity either at the beginning of the financial year or at the end of the financial year. Arrangements to enable directors to acquire debentures Neither at the end of nor at any time during the financial year was the Charity a party to any arrangement whose object was to enable the directors of the Charity to acquire benefits by means of the acquisition of debentures of the Charity or any other body corporate. 1

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29 INDEPENDENT AUDITOR S REPORT TO THE MEMBERS OF MINDSET CARE LIMITED Report on the Audit of the Financial Statements Our opinion In our opinion, the accompanying financial statements of MINDSET Care Limited ( the Charity ) are properly drawn up in accordance with the provisions of the Companies Act, Chapter 50 ( the Companies Act ), the Charities Act, Chapter 37 and other relevant regulations ( the Charities Act and Regulations ) and Charity Accounting Standard ( CAS ) so as to give a true and fair view of the financial position of the Charity as at 31st December 2017 and of the financial performance, changes in the funds and cash flows of the Charity for the year ended on that date. What we have audited The financial statements of the Charity comprise: the statement of financial activities for the year ended 31st December 2017; the balance sheet as at 31st December 2017; the statement of cash flows for the year then ended; and the notes to the financial statements, including a summary of significant accounting policies. Basis for Opinion We conducted our audit in accordance with Singapore Standards on Auditing ( SSAs ). Our responsibilities under those standards are further described in the Auditor s Responsibilities for the Audit of the Financial Statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Independence We are independent of the Charity in accordance with the Accounting and Corporate Regulatory Authority Code of Professional Conduct and Ethics for Public Accountants and Accounting Entities ( ACRA Code ) together with the ethical requirements that are relevant to our audit of the financial statements in Singapore, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ACRA Code. Other Information Management is responsible for the other information. The other information comprises all the sections of the annual report but does not include the financial statements and our auditor s report thereon. Our opinion on the financial statements does not cover the other information and we do not and will not express any form of assurance conclusion thereon. 3

30 INDEPENDENT AUDITOR S REPORT TO THE MEMBERS OF MINDSET CARE LIMITED (continued) Other Information (continued) In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Responsibilities of Management and Those Charged with Governance for the Financial Statements Management is responsible for the preparation of financial statements that give a true and fair view in accordance with the provisions of the Companies Act, the Charities Act and Regulations and CAS, and for devising and maintaining a system of internal accounting controls sufficient to provide a reasonable assurance that assets are safeguarded against loss from unauthorised use or disposition; and transactions are properly authorised and that they are recorded as necessary to permit the preparation of true and fair financial statements and to maintain accountability of assets. In preparing the financial statements, management is responsible for assessing the Charity s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Charity or to cease operations, or has no realistic alternative but to do so. Those charged with governance comprises the directors and the governing board. Their responsibilities include overseeing the Charity s financial reporting process. Auditor s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SSAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 4

31 INDEPENDENT AUDITOR S REPORT TO THE MEMBERS OF MINDSET CARE LIMITED (continued) Auditor s Responsibilities for the Audit of the Financial Statements (continued) As part of an audit in accordance with SSAs, we exercise professional judgement and maintain professional scepticism throughout the audit. We also: Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Charity s internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management. Conclude on the appropriateness of management s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Charity s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor s report. However, future events or conditions may cause the Charity to cease to continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 5

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33 MINDSET CARE LIMITED STATEMENT OF FINANCIAL ACTIVITIES For the financial year ended 31st December 2017 Notes S$ S$ Income Income from generated funds Voluntary income 3 281, ,437 Investment income interest income 1,048 - Total income 282, ,437 Expenditures Charitable activities 5 (184,939) (251,516) Governance costs 6 (33,616) (91,682) Other expenditures 7 (45,635) (41,026) Total expenditures (264,190) (384,224) Net income 18,087 19,213 Reconciliation of funds Total funds brought forward 406, ,012 Total funds carried forward 424, ,225 The accompanying notes form an integral part of these financial statements. 7

34 MINDSET CARE LIMITED BALANCE SHEET As at 31st December 2017 Notes S$ S$ ASSETS Non-current assets Property, plant and equipment ,033 Current assets Other receivables 9 102,405 83,701 Cash and cash equivalents , ,287 Total current assets 583, ,988 Total assets 583, ,021 LIABILITIES Current liabilities Accruals , ,796 Total liabilities 159, ,796 NET ASSETS 424, ,225 FUNDS OF CHARITY Unrestricted income funds 424, ,225 Total charity funds 424, ,225 The accompanying notes form an integral part of these financial statements. 8

35 MINDSET CARE LIMITED STATEMENT OF CASH FLOWS For the financial year ended 31st December 2017 Cash flows from operating activities S$ S$ Net income 18,087 19,213 Adjustments for: Interest income (1,048) - Depreciation Non-cash donations (90,454) (187,809) Non-cash expenditures 90, ,809 Operating cash flows before changes in working capital 17,405 19,580 Changes in working capital: - Other receivables (18,704) (24,014) - Accruals 34, ,739 Net cash flows from operating activities 33, ,305 Cash flows from investing activities Interest received 1,048 - Net cash flows used in investing activities 1,048 - Net increase in cash and cash equivalents 34, ,305 Cash and cash equivalents at beginning of financial year 446, ,982 Cash and cash equivalents at end of financial year 480, ,287 The accompanying notes form an integral part of these financial statements. 9

36 MINDSET CARE LIMITED NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31st December 2017 These notes form an integral part of and should be read in conjunction with the accompanying financial statements. 1. General information MINDSET Care Limited was incorporated on 13th May 2011 as a company limited by guarantee and is domiciled in Singapore. The address of its registered office is 239 Alexandra Road, Singapore It has been registered as a charity under the Singapore Charities Act, Chapter 37 with effect from 27th April MINDSET Care Limited is the Jardine Matheson Group s philanthropic initiative and registered charity to make a difference in the area of mental health The Charity s principal activities are those relating to charitable and other supporting activities aimed at promoting awareness and understanding in Singapore regarding mental health issues, including mental illnesses and disabilities, as well as supporting individuals, families and organisations in Singapore who require assistance in connection with mental health-related matters. Each member of the Charity undertakes to contribute a sum not exceeding S$1 to the assets of the Charity in the event of it being wound up. The number of members at the balance sheet date was three. 2. Significant accounting policies 2.1 Basis of preparation These financial statements have been prepared in accordance with the Charities Accounting Standard ( CAS ) following the registration as a charity on 27th April The financial statements have been prepared under the historical cost convention, except as disclosed in the accounting policies below. The preparation of these financial statements in conformity with CAS requires management to exercise its judgement in the process of applying the Charity s accounting policies. The management is of the opinion that there is no area involving a higher degree of judgement or complexity, or areas where estimates and assumptions are significant to the financial statements. The financial statements of the Charity are presented in Singapore dollar, which is the functional currency of the Charity. 10

37 MINDSET CARE LIMITED NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31st December Significant accounting policies (continued) 2.2 Voluntary income Voluntary income comprises cash donations and donations in kind. Cash donations are recognised when received. Donations in kind comprise donated goods, services and facilities which represent economic benefits to the Charity, and are recognised when it is probable that the economic benefits will flow to the Charity, the income can be measured with sufficient reliability at fair values, and when the Charity has entitlement over the rights to the resources. 2.3 Investment income Investment income comprises interest income on fixed deposit placed with bank. The interest income is recognised using the effective interest method. 2.4 Expenditure Expenditure comprises costs of generating voluntary income, expenses incurred for charitable activities, governance costs and other expenses which are recognised at cost or at fair value in the case of donations in kind and donated services and facilities. 11

38 MINDSET CARE LIMITED NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31st December Significant accounting policies (continued) 2.4 Expenditure (continued) Expenditure is recognised when and to the extent that a liability is incurred or increased without a commensurate increase in recognised assets or a reduction in liabilities, or an asset is reduced without a commensurate decrease in recognised liabilities or increase in another asset. Costs of generating voluntary income relate to expenses for events organised by the Charity where income is generated for the Charity. Expenses incurred on charitable activities comprise direct costs applied by the Charity in undertaking its work to meet its charitable objectives. Such activities include Fun Days, Awareness & Outreach (previously known as Education & Communication), Back to Workforce and Social Enterprise. Governance costs include costs of statutory audit and legal advice provided on governance and constitutional matters. Other expenditures include costs relating to training, travelling, appointment ceremony for Jardine Ambassadors who are volunteers recruited from staff employed by the Jardine Matheson Group of companies to plan and execute the activities of the Charity. Support costs are apportioned to relevant activity cost categories. 2.5 Property, plant and equipment Property, plant and equipment are stated at cost less any accumulated depreciation and accumulated impairment loss. Subsequent expenditure relating to property, plant and equipment that has already been recognised is added to the carrying amount of the asset only when it is probable that future economic benefits associated with the item will flow to the Charity and the cost of the item can be reliably measured. All other repairs and maintenance are charged to the profit or loss account during the financial year in which they are incurred. Depreciation is calculated using the straight line method to allocate depreciable amounts over their estimated useful lives at the following annual rates: Office equipment 20% 12