Developing Minds, Shaping Attitudes

Developing Minds, Shaping Attitudes Temasek Polytechnic Annual Report 2001/2002 Transforming Polytechnic Education Annual Report 2001/2002

Contents 1 Mission Vision Corporate Goals and Strategies Shared Values 2 Board of Governors 4 Senior Management 5 Organisation Chart 6 Milestones 8 Principal & CEO s Report corporate review 10 Synergistic Collaborations 14 Creating the Future 20 Harnessing Human Capital 26 Energy and Excitement corporate information financial statements

1 Mission To prepare school-leavers and working adults for a future of dynamic change, with relevant knowledge, life-long skills, character, and a thirst for continuous improvement. Vision To be a world-class institution in the global education network, reputed for our programmes, applied research, managerial excellence and innovative corporate culture. Corporate Goals and Strategies Quality Education through leadership, innovation and integration Quality People through selection, management and development Quality Environment through communication, teamwork and people-centredness Quality Performance through goals, commitment and service Shared Values Responsibility for the continued growth and success of Temasek Polytechnic Respect for the dignity of the individual Integrity of the highest order Student-centredness Future orientation

Board of Governors 5 4 9 8 14 6 10 7 13 3 12 1 2 11 1 Mr Liew Mun Leong 2 Mr Lim Kok Min, John 3 Mr Boo Kheng Hua 4 Mr Chan Yeng Kit 5 Mr Hsieh Fu Hua 6 Mr Lee Kiang Peng, Anthony 7 Prof Lee Tong Heng 8 Mr Liow Voon Kheong 9 COL Loh Wai Keong 10 Mr Saw Ken Wye 11 Mr Seah Moon Ming 12 Ms Su Yeang 13 Dr Toh See Kiat 14 Mr Zulkifli Baharudin

Board Of Governors (up to 15 April 2002) 2 3 Chairman Mr Liew Mun Leong President & CEO CapitaLand Ltd Deputy Chairman Mr Chan Meng Wah, Alexander Executive MMI Holdings Ltd Members Mr Boo Kheng Hua (w.e.f. 17 Dec 2001) Principal & CEO Temasek Polytechnic Mr Lee How Sheng (Human Resource) Ministry of Home Affairs Mr Lim Kok Min, John Chairman Senoko Power Ltd Mr Loh Soo Eng Wing Tai Holdings Ltd Dr Loh Wah Sing Senior Vice President Technology Group PSB Corporation Pte Ltd RADM Ong Hung Eng Commandant SAFTI Military Institute Mr Saw Ken Wye General Manager Asia Pacific (Network Service Providers) Microsoft Singapore Mr Seah Seng Choon Skills Development Department NTUC Ms Su Yeang CEO Citigate Su Yeang Design Pte Ltd Mrs Tan Ching Yee Deputy Secretary (Policy) Ministry of Education Dr N Varaprasad (up to 16 Dec 2001) Principal & CEO Temasek Polytechnic Mr Yeo Khee Leng Chief Executive Singapore Tourism Board Prof Yue Chee Yoon Dean School of Mechanical & Production Engineering Nanyang Technological University Mr Zulkifli Baharudin Vice President Logistics-Asia Pacific EGL Asia Pacific Holdings Co Pte Ltd Board Of Governors (with effect from 16 April 2002) Chairman Mr Liew Mun Leong President & CEO CapitaLand Ltd Deputy Chairman Mr Lim Kok Min, John Chairman Senoko Power Ltd Members Mr Boo Kheng Hua Principal & CEO Temasek Polytechnic Mr Chan Tee Seng (w.e.f. 1 Jul 2002) Skills Development Department NTUC Mr Chan Yeng Kit Deputy Secretary (Policy) Ministry of Education Mr Hsieh Fu Hua Managing Partner PrimePartners Assets Management Pte Ltd Mr Lee Kiang Peng, Anthony Area Manager (Singapore/Malaysia/Indonesia) American Express International Inc. Prof Lee Tong Heng Professor National University of Singapore Mr Liow Voon Kheong General Manager EDB Investments Pte Ltd Dr Loh Wah Sing Divisional (Business Development) Institute of High Performance Computing COL Loh Wai Keong Head Joint Operations Ministry of Defence Mr Saw Ken Wye General Manager Asia Pacific (Network Service Providers) Microsoft Singapore Mr Seah Moon Ming President ST Electronics Ltd Ms Su Yeang CEO Citigate Su Yeang Design Pte Ltd Dr Toh See Kiat Chairman Goodwins Law Corporation Mdm Yeoh Chee Yan Deputy Secretary (Community Development and Sports) Ministry of Community Development and Sports Mr Zulkifli Baharudin Senior Vice President Avitra Aviation Services Pte Ltd

Senior Management Mr Boo Kheng Hua Principal & CEO Mr Ang Keng Loo Deputy Principal Mr Edmond Khoo Keng Gie Strategic & Quality Development, and Interdisciplinary & General Studies Mrs Lily Teo Finance, Development & Estates Mrs Chua Seow Ying Human Resource & Staff Development Mrs Cheong-Soh Eng Khim Registrar and Student Services Mr Yew Bok Chin Computer & Information Systems Mrs Esther Ong Wooi Cheen Library & Information Resources Mrs Sally Chew-Ong Gek Tee International Relations & Industry Services Mr George Yap Giok Seng Continuing Education Centre Mrs Soon-Ong Meng Wan Temasek Applied Science School Mr Wong Loke Jack Temasek Business School Mr Alistair Leung Kam Kui Temasek Design School Mrs Lay-Tan Siok Lie Temasek Engineering School Mr Tan Dek Yam Temasek Information Technology School

Organisation Chart 4 5 Mr Boo Kheng Hua Principal & CEO Mr Ang Keng Loo Deputy Principal Mr Yew Bok Chin Computer & Information Systems Mrs Soon-Ong Meng Wan Temasek Applied Science School Mrs Lily Teo Finance, Development & Estates Mrs Esther Ong Wooi Cheen Library & Information Resources Mr Wong Loke Jack Temasek Business School Mrs Chua Seow Ying Human Resource & Staff Development Miss Evelyn Chong Deputy Corporate Communications Dr Lynda Wee Keng Neo Deputy Temasek Centre for Problem-Based Learning Mr Alistair Leung Kam Kui Temasek Design School Mrs Lay-Tan Siok Lie Temasek Engineering School Mr Tan Dek Yam Temasek Information Technology School Mrs Sally Chew-Ong Gek Tee International Relations & Industry Services Mrs Cheong-Soh Eng Khim Registrar and Student Services Mr Edmond Khoo Keng Gie Strategic & Quality Development Mr Edmond Khoo Keng Gie Interdisciplinary & General Studies Mr George Yap Giok Seng Continuing Education Centre Ms Janet Lyn Manager Internal Audit Division

Milestones 2 April 2001 H E President S R Nathan visited Temasek Polytechnic and officiated the sealing of the 10 th Anniversary Time Capsule. 2 July 2001 Commencement of the new Diploma in Biomedical Informatics and Engineering by Temasek Engineering School and the Diploma in Communications and Media Management by Temasek Business School. 28 August 2001 Temasek Polytechnic soft launched e.thos, one of the first e-learning programmes for Tourism & Hospitality in the region. 1 May 2001 The Interdisciplinary and General Studies Department was established. Comprising the Centre for Character Education, Curriculum Development Division and Temasek Language Centre, it aims to develop, deliver and promote cross disciplinary subjects that will broaden students outlook beyond their diploma specialisation. 10 July 2001 Temasek Polytechnic received the Public Service Award for Organisational Excellence, a premier award given to recognise public service organisations which have attained key organisational excellence standards. 2 September 2001 Temasek Polytechnic received the H.E.A.L.T.H. Award (Silver) for the 3 rd consecutive year from the Health Promotion Board.

6 7 19 September 2001 Temasek IT School students emerged champions in two IT categories in the 36 th World Skills Competition, an international contest that provides a platform for young skilled workers to distinguish themselves in their vocation. 11 December 2001 Temasek Polytechnic was awarded the ISO 14001 certification for its Environmental Management Systems. 23 March 2002 Temasek Engineering School won two Silver Awards, three Merit Awards, and six Commendation Awards in the Tan Kah Kee Young Inventors Award 2002. 31 October 2001 Temasek Polytechnic won The Enterprise Challenge (TEC) Innovation Incubator Award for two project proposals: (1) System for Therapy Assessment & Rehabilitation Training through Simulation (STARTS); and (2) Problem-Based Learning Education Model for Higher Education in Singapore. 1 February 2002 Minister of State for Education and Manpower, Dr Ng Eng Hen and Parliamentary Secretary, Ministry of Education, Mr Hawazi Daipi visited Temasek Polytechnic.

Principal & CEO s Report TP has embraced a readiness-for-change mindset. It has been proactively putting in place a flexible and adaptive academic system and curriculum structure that will allow it to respond to industry s needs and at the same time cater to students with different learning abilities and interests. This new academic architecture is aptly named FAST, which stands for Flexible Academic System for Temasek. With FAST, students will benefit from a broader based education as they can now choose from a wide selection of crossdisciplinary subjects apart from the diploma-specific subjects. After more than a decade of growth and development, Temasek Polytechnic (TP) continues to consolidate and prepare itself for new challenges and opportunities ahead. As the pace of globalisation quickens amidst a changing economic landscape, the challenge for TP is to remain relevant. As an educational institution whose role is to support the continued growth of Singapore, the Polytechnic has to remain new economy-ready and industryrelevant. Our obligation to employers is to provide them with educated citizens and a capable workforce. For our students who are our primary responsibility, we strive to provide them with the educational experience and learning opportunities that would stimulate them to achieve their best potential and enhance their employability. In striving for excellence in teaching, the Polytechnic has adopted Problem- Based Learning (PBL) as its central pedagogy. PBL is an educational philosophy that simulates and emulates real world learning and seeks to equip students with strong process skills and self-directed learning abilities. Such abilities and skills will put our graduates in good stead and enable them to be future-ready as they step into a world of constant changes. TP received funding support under The Enterprise Challenge (TEC), to pilot PBL in Higher Education using the diploma in marketing as a test bed. The Polytechnic has gone beyond the prototyping stage and fully implemented PBL in our diplomas in marketing and computer engineering. Armed with this encouraging experience and enthusiastic endorsement from both graduates and employers, TP is now poised to embark on the next phase of the PBL journey to promote the adoption of PBL across the various courses and subjects.

8 9 In order to stay relevant in an increasingly e-enabled world, TP launched its e-poly initiative in end 2000. The first phase of the e-poly development, which focuses on the hardware and software architecture, is expected to be completed by end 2002 with the initial roll out of the student portal and corporate website. The TP Digital Library project is another key component of the e-poly initiative. When completed, it will provide students and staff with anytime and anyplace access to information and learning resources, creating a borderless state-of-the-art digital library. In the area of organisational development, TP is proud to receive the Public Service Quality Award for Organisational Excellence in July 2001. This premier award is given to public service organisations that have attained key organisational excellence standards such as the ISO 9001, People Developer Standard and Singapore Quality Class. For its implementation of an effective Environmental Management System, the Polytechnic was awarded the ISO 14001 certification in December 2001. In the area of partnership development, TP continues to establish strategic alliances with leading global players in areas where we can create synergy with our respective strengths. The Polytechnic became Ericsson s pioneering tertiary institution partner to set up a Mobile Internet Lab at our Temasek Information Technology School. Temasek Engineering School was also one of the first tertiary institutions in Singapore to be appointed as an Approved Training Centre for Nokia. TP students had more than their fair share of sterling performances and successes in national and international competitions. In particular, Temasek Information Technology students did Singapore and the Polytechnic proud at the 36 th World Skills Competition, winning two gold medals while Temasek Engineering School achieved an unprecedented feat by winning 11 out of the 23 prizes at the Tan Kah Kee Young Inventors Award. The year past has been a fulfilling one and we look forward to the next with the same eagerness and expectation. At TP, our staff are our primary strength and form the capability foundation that determines the quality and excellence of all that we do at the Polytechnic. I wish to thank them for their commitment and dedication in contributing to the progress and development of the Polytechnic. I would like to take this opportunity to thank our Board members who completed their term in April this year, for their contribution and support. I am pleased to welcome our new Board members who bring with them a wealth of experience from their diverse backgrounds. I look forward to working closely with the new Board under the continued guidance of Mr Liew Mun Leong, our Board Chairman. Once again, let me express my gratitude to the Board of Governors, School Advisory Committees and our industry partners for their valued guidance and support. Boo Kheng Hua Principal & CEO

Synergistic Collaborations

10 11 SYNERGISTIC COLLABORATIONS Organisations thrive on successful partnerships. TP has strengthened its value-added partnerships with leading companies and industry players through the signing of important memoranda of understanding and agreements which ensure that our courses are in line with the needs and demands of industries. Significant ties were also forged with both local and overseas institutions through training, visits, student and staff exchanges. SEALING PARTNERSHIPS Memoranda of Understanding with Industry TP became Ericsson s first tertiary educational institution partner to have a Mobile Internet Lab established with the assistance of Ericsson when the Temasek Information Technology School signed a Memorandum of Agreement (MOA) with Ericsson Telecommunication Pte Ltd on 13 July 2001. Under the agreement, both parties will cooperate to nurture talent and produce competent infocomm technology specialists for the Asia-Pacific region. TP forged a new partnership with Borland Software Corporation on 28 February 2002 to enhance IT students learning and Java application development skills. As a Borland Academic Partner, Temasek Information Technology School will receive the latest edition of Borland JBuilder Enterprise for evaluation as well as onsite training for academic and technical staff. The partnership with Borland will offer our students the benefits of access to knowledge and skills in developing advanced Java applications. Placements for local and overseas Student Internship Programmes and a Mentorship Programme for students by members of the Young Entrepreneurs Organisation (YEO) were secured when a Memorandum of Understanding (MOU) was signed between YEO and Temasek Business School on 21 July 2001. The mentorship programme will create a platform for aspiring Diploma in Business Information Technology students to be exposed to the ideas and motivation of successful technopreneurs, and to learn to start up and manage a business. Temasek Engineering School became the first tertiary institution in Singapore to be appointed an approved training centre for Nokia, a reputable industry leader in the field of wireless internet technology when an MOA was signed with Nokia on 13 July 2001 to set up a Nokia Authorised Training Centre in WAP Application Development courses and to jointly develop projects in the field of mobile computing. An MOU was signed between Temasek Engineering School and the Singapore General Hospital to collaborate in the field of Virtual Reality Simulations for Life Science Laboratory Training and Surgical Equipment Training on 30 May 2001. Temasek Applied Science School and the Agri-Food & Veterinary Authority signed an MOU on 30 May 2001 to collaborate in the research of hydroponic flood-and drain aggregate cultivation of orchids.

Temasek Design School s Interactive Media Design (IMD) students had three of their stories produced and aired by Channel NewsAsia during their internship period. The quality of their work impressed Channel NewsAsia which led to the signing of an MOU with MediaCorp in September 2001. Under the terms of the MOU, second and third year IMD students will produce stories for broadcast by Channel NewsAsia. At least two stories will be selected for broadcast annually. Memoranda of Understanding with Overseas Institutions MOUs were signed with overseas institutions during the year to collaborate in the areas of staff and student exchanges and the sharing of expertise, knowledge and information. The institutions included the Worcester Polytechnic Institute, USA; University of Canberra, Australia; University of Wisconsin-Stout, USA; Ocean University of QingDao, China; and Indiana University Purdue University, Indianapolis, USA. In December 2001, TP signed a four-party agreement with the Institute for Design and Building Construction in Vienna, Austria; National University of Singapore and novacitynets to collaborate in research & development, and to share expertise, knowledge and information in the field of activity relating to SEMPER-II (Simulation Environment for Modelling Performance). SEMPER-II involves the development of a web-based design and performance simulation environment which makes use of a dynamic real-time simulation and performance prediction environment over the Internet to conduct a virtual collaboration design, modelling and engineering process. The set up of a Nokia Authorised Training Centre at TP with the signing of an MOA between TP and Nokia. Petri Markus, from Vaasa Polytechnic, Finland on a student exchange programme to Temasek Information Technology School from Jan to May 2002. UNITING WORLDS TP has established links with various overseas institutions to provide industrial attachments for students and staff exchanges. We will continue to seek out alliances that will enhance our international networking.

12 13 In the period of review, TP continued to play an active role in conducting international training programmes for regional economies. Most of these were conducted jointly with the Singapore Ministry of Foreign Affairs and international funding partners such as the World Bank, Japan International Cooperation Agency, Economic & Social Commission for Asia and the Pacific, and the Commonwealth Secretariat. Classroom session of the Train-The-Trainers in Tourism Management courses sponsored by Japan International Cooperation Agency. TP, working through the International Relations & Industry Services (IRIS) Department played host to a total of 752 visitors during the review period. TP also hosted several overseas delegations from Hong Kong, Japan, Thailand and Vietnam in the past year. Most of these delegates were government and provincial officers, corporate executives and academic staff who were here on study missions to know more about the polytechnic education system, and the use of information and communication technology in teaching and learning in the polytechnic. SHARING KNOWLEDGE AND EXPERTISE Since the launch of international training programmes in 1995, TP, working through the IRIS Department, has trained some 870 participants from 75 countries. In the last financial year, a total of 12 international training programmes were conducted for some 250 participants from 35 countries. New Training Contracts TP secured the running of two new contracts for training in the area of educational management and teaching pedagogy; one for 10 senior educators from Pakistan, and the other for three groups of science teachers from Sri Lanka. The one-week study visit on Technical Vocational Education Training for Pakistan was conducted in August 2001 with funding support from the Asian Development Bank. The Sri Lanka project (October 2001 - March 2002) received funding support from the World Bank. The Education Train-the- Trainers Programme The Education Train-the-Trainers Programme is a new initiative mooted by Prime Minister Goh Chok Tong at the 4 th Association of Southeast Asian Nations (ASEAN) Informal Summit Meeting held in Singapore in 2001. This Initiative for ASEAN Integration aims to help the new member countries integrate faster into ASEAN through skills development and educational programmes. TP hosted several participants under this programme. Four participants from Cambodia and Vietnam were on attachment to the Temasek Language Centre from 1-31 October 2001. They were senior education officers here to study TP s language programmes to bring home workable methodologies for integration into their own educational setting.

the Creating Future

14 15 CREATING THE FUTURE TP aims to be an institution of excellence in the global education network. As a leading educational institution, we are committed to deliver the highest level of academic and service excellence to our customers our students and the industry. The challenge for the Polytechnic is in developing its students with the right mindset and skills to add value in the new knowledgebased economy. NEW INITIATIVES Flexible Academic System In the review year, TP introduced a new credit-based academic system that will offer greater flexibility and choice to students. The new academic system named Flexible Academic System for Temasek (FAST) is one of TP s strategic initiatives to support the demands of the new economy. FAST will offer a more broad-based education to students through the provision of three categories of subjects: the Polytechnic s core subjects, the diploma subjects and cross-disciplinary subjects. It will produce quality graduates who will have a good grounding in the fundamentals, life skills, character and a thirst for continuous learning. It will help ensure that our graduates remain relevant. FAST, to be implemented in July 2002, will provide students with more varied educational opportunities. It also aims to provide contexts to nurture talent, challenge the more able, and provide support to those who need more time to learn and grow. The new system allows students to take subjects beyond their discipline, encouraging learning and fostering the spirit of lifelong learning among our students. Multi-Disciplines In line with the strategic mission of TP to prepare school leavers for a future of dynamic change, the Polytechnic s Interdisciplinary and General Studies Department was set up in May 2001. The department aims to create and deliver learning experiences for students to explore beyond their chosen disciplines, preparing them for the real world where problems and its associated solution often cut across disciplines. It also takes charge of two established centres, namely the Centre for Character Education and the Temasek Language Centre, which support some poly-wide programmes and activities. Student Advisement Services The Career & Course Advising Office came into operation on 21 August 2001. The office is set up to provide information and guidance to TP students and graduates in the choice of subjects under FAST, areas of further education at local/overseas universities, and post-diploma career options. NEW ASPIRANTS Admissions International students enrolled for the academic year came mainly from nearby countries such as India, China, Myanmar, Vietnam to as far as the Maldives. TP continued with its efforts to provide

international students with a caring environment. Immersion programmes were organised for new international students to facilitate a smooth cultural and academic transition to Singapore and TP, and to foster bonding among the new students. New Courses Three new courses were launched during JAE 2002. These were the Diplomas in Business Process & Systems Engineering, Mobile & Wireless Computing and Biomedical Science. The Diploma in Business Process & Systems Engineering which offers an integration of both engineering and business principles received strong support from the industry. The Diploma in Mobile & Wireless Computing will meet the market demand for IT professionals with the knowledge of mobile and wireless technologies to support the vibrant infocomm industry. The industry-focused and practiceoriented training programme of the Diploma in Biomedical Science will meet the demands of the fast-growing biomedical science industries. TP Graduands There were 4,604 graduands, 3,543 full-time and 1,061 part-time in 2001. This was a 12% increase compared with the previous review year. First-time graduates came from the full-time Diplomas in Consumer Science & Technology, Chemical Engineering, Internet Computing, and part-time programmes like the Diploma in Management & Police Studies, Advanced Diploma in Police Studies, Specialist Diplomas in Broadband Multimedia Development, Logistics Management, Multimedia Design, e-business Management and Certificates in Conveyancing Law and Commercial Law. Institution Fixed holistic development of individual TP Core Subjects ENHANCING WORKFORCE EMPLOYABILITY Diploma Subjects Cross- Disciplinary Subjects Individual Flexible broad-based education for continuous learning In response to the evolving need for lifelong learning in today s knowledgebased global economy, TP offers highly relevant courses in many areas to sharpen the competitive edge of working adults and organisations. New Part-time Courses During the year in review, four new part-time certificated courses were launched. These include the Certificate in Financial Services, Certificate in Commercial Law, Certificate in Conveyancing Law and Certificate in Editing and Editorial Management. Industry Fit prepare students for workplace FAST, TP s new academic system, will encourage versatility and produce dynamic, multi-disciplinary graduates. A Diploma in Biomedical Science student performing UV Spectroscopic measurement.

16 17 courses on IT skills, design, e-commerce, AutoCAD software and marketing courses. First day of class for students taking the Specialist Diploma in Human Resource Development. ETHOS LOGO Skills Redevelopment Programme TP also offered Skills Redevelopment Programme courses and some of the major clients included the Chinese Development Assistance Council, Singapore Airport Terminal Services Ltd, Singapore Airlines, DHL International (S) Pte Ltd and Singapore Telecommunications Ltd. The 11 courses offered during the review year benefited 285 participants. Short Courses for Professionals A total of 75 Short Courses for Professionals were conducted which drew 1,190 participants. The more popular courses included the Wafer Fabrication Technology, Liquid Crystal Display Technology, Maths Tutoring Proficiency Course, Management of Media Resource Libraries for Teachers, SAT Preparatory Course and Talking With Your Customers. In addition, 45 customised courses were conducted for 907 professionals from various companies and government agencies. Some of our clients included the Ministry of Defence, Singapore Airlines, People s Association, the Navy, the Airforce, Institute of Public Administration and Management, Ministry of Education, Citibank, Singapore Airport Terminal Services Ltd and National Trades Union Congress. Programmes in high demand included e-learning Businesses across all major sectors recognise the need to go online, the same goes with providing an e-education for people who manage the businesses. On 28 August 2001, the Division of Hospitality & Tourism Management in the Temasek Business School soft launched e.thos (e-learning for Tourism & Hospitality) for the workforce of the industry. One of the first comprehensive e-learning training programmes in the region, the programme provided two key disciplines of study: Lodging & Catering Business and Travel & Leisure Business. The effort is partially funded by the Infocomm Development Authority of Singapore. Adoption of Different Learning Modes The Flexible Delivery System for the Diploma in Chemical Engineering was launched in 2001 to enable full-time working adults in the chemical industry to pursue a diploma course that provides them with the opportunity to upgrade while coping with their heavy work commitment. The system allows students the flexibility of studying at their own pace over a period of three to five years through a combination of learning modes such as online learning, face-to-face consultation with lecturers and practical sessions at the laboratories. STUDENT INTERNSHIP PROGRAMME Some 4,000 students went on industry attachment, both locally and overseas, where they could apply the knowledge gained and also enjoy hands-on training. The experience boosted their confidence and taught them to be more independent and resourceful.

To prepare our students for the working world and in line with the government s call to Go Global, students are encouraged to perform their internship overseas. More than 80 students were sent to 13 countries and cities for the Overseas Student Internship Programme. These include Australia, China, Finland, Hong Kong, India, Indonesia, Japan, Malaysia, Myanmar, Philippines, Thailand, UK and USA. STUDENT ACHIEVEMENTS New Awards TP students have done well during the review year. The Diploma in Legal Studies students participated in the Chief Justice s Award for Judicial enovation Competition organised by the Subordinate Courts. A team of students came up with the idea of a One- Stop Law Centre where the public can access legal information freely and easily. Their submission of Bringing the Law to the People won an Honourable Mention together with a cash prize of $3,000, the only entry to have received such an award from among more than 40 other statutory boards and private law firms. In November 2001, TP took the lion s share of the inaugural Crowbar Awards, a gala annual advertising event. For the first time ever, The Student Creative Circle Award was created for student entries which were benchmarked with the best in the industry. Temasek Design School clinched 22 Crowbar finalist and eight Crowbar winner awards. Final-year Visual Communication student Genevieve Tan also won the Best of the Best Award (Design category), winning a 2-week fully-paid internship with Fallon in Minneapolis. Fallon is reputed to be one of the best advertising agencies in the world. Students from the Diploma in Legal Studies won an Honourable Mention at the Chief Justice s Award for Judicial enovation Competition. 36 WORLD SKILLS COM Tan Kian Ann and Nicholas Chung emerged champions in two IT categories at the 36 th World Skills Competition 2001. International Awards Temasek Information Technology students, Tan Kian Ann and Nicholas Chung emerged champions in two IT categories in the 36 th World Skills Competition, held in Seoul, Korea from 6-19 September 2001. Besides winning the gold for the Software Applications category, Tan Kian Ann also won his second gold medal for being the best contestant amongst all contestants from Singapore. Nicholas Chung won a gold medal for being the best in the PC Support and Network category. Six final year Diploma in Marketing students emerged Champion in the Asia Pacific Region championship for

18 19 Angeline Liew, winner of the Lee Kuan Yew STEP Award 2001, with her lecturers. Robot, Black Belt, chaperoned by student, Benjamin Wu, won a gold at the Singapore Robotic Games 2002. In DanceWorks!, organised by Central Narcotics Bureau, in conjunction with the Anti-Drug Abuse Campaign in April 2001, the TP Dance Ensemble won the championship and first runner-up titles, as well as the Best Costume title. Our Lifesaving Team emerged first in the Men s 100m Saving A Victim (Rescue Tube) event at the National Lifesaving Championships held in April 2001. Lee Kuan Yew - STEP Award Angeline Liew, a student from the Diploma in Applied Food Science & Nutrition of the Temasek Applied Science School, was presented with the Lee Kuan Yew - STEP Award 2001 (The Lee Kuan Yew Scholarship to Encourage Upgrading) which carries a one-off cash award of $5,000. This is an outstanding achievement as this prestigious scholarship is only awarded to the top five polytechnic students who enrol in local universities. ALUMNI Project, Marker Refiller clinched one of TP s two silver awards at the Tan Kah Kee Young Inventors Award 2002. their submission on an integrated marketing communication proposal for BusinessWeek at the 6 th International Advertising Association Competition in New York, USA. Local Awards Temasek Engineering School bagged a record 11 Awards at the Tan Kah Kee Young Inventors Award 2002 on 23 March 2002. The Awards included two Silvers, three Merit Awards, and six Commendation Awards. The School also performed well at the Singapore Robotic Games 2001 from 15-17 May 2001, winning eight Awards: two Golds, three Silvers, two Bronzes and one Special Award. The first Temasek Alumni Day on 25 August 2001 saw the launch of the Alumni Card and the Alumni Icon. The Alumni Portal which enables our growing community of graduates of 23,000 strong to connect with each other and with TP, was launched on 23 November 2001. TP held its first online career fair from 1 February to 15 March 2002. As an online venue for employers to reach out to graduating students and alumni, the online career fair was a joint effort of the four polytechnics: Nanyang, Ngee Ann, Singapore and Temasek polytechnics. Forty-six companies and more than 1,037 TP graduates and final year students participated in the fair.

Harnessing Human Capital

20 21 HARNESSING HUMAN CAPITAL Our people remains our primary strength and primary asset. TP as a progressive organisation believes in investing in and rewarding the talent that forms the heart of the Polytechnic. Continual acquisition of relevant skills and knowledge will help staff stay relevant and competitive in the educational global network. To foster a learning culture, training opportunities abound for all staff. STAFF MOVEMENT The year started with 738 academic staff and 581 non-academic staff making a total of 1,319 staff. By 31 March 2002, the staff strength has grown to 753 academic staff and 631 non-academic staff bringing the total to 1,384. This is an increase of 15 academic staff (or 2.8%) and 50 nonacademic staff (or 8.6%) over the last year. Foreign staff constituted 7.7% of the academic staff population. A LEARNING ORGANISATION Online Learning Needs Analysis System TP is a strong supporter of lifelong learning. During the year, the competencybased electronic Learning Needs Analysis (elna) system was developed, to complement the existing Staff Training System. With the elna system, staff competency gaps can be analysed online and suitable programmes to close the gaps identified and included in the Total Learning Plan. The elna system was rolled out in February 2002. Commitment to Training TP s training expenditure as a percentage of payroll was 3.44% for 2001/2002. The average training hours per staff was about 86.4 hours for the period, above the benchmark of a minimum of 40 hours per staff set by the People Developer Standards. A total of 378 in-house training programmes were organised for all levels of staff in the areas of information technology, communication, team building, personal and interpersonal effectiveness and Problem-Based Learning. Staff members were also developed under TP s core programmes for competencies that reflect the strategic thrusts and values of TP. These are the service quality programmes from the Singapore Quality Centre and personal effectiveness programmes from the Covey Leadership Centre. Academic Staff Development During the review period, 84 new academic staff attended the Academic Staff Induction Programme which provided new academic staff with critical pedagogical skills to enhance their effectiveness as educators.

In the review year, 110 academic staff embarked on the Teaching in Higher Education Certificate (THEC) programme while another 41 lecturers registered for the Higher Education Teacher Accreditation Programme (HETAP). A total of 50 lecturers from the THEC and HETAP programmes received the Staff & Educational Development Association (UK) accreditation. The Workshop Festival held from 27-30 November 2001 marked the first collaborative venture between lecturers from the Schools and the Staff and Educational Development Division of the Human Resource and Staff Development Department. A total of 15 workshops on learning and teaching were conducted with the attendance of 143 staff. Staff Development Conference The 5 th Annual Staff Development Conference was held from 24-25 October 2001 with the theme Innovations in a Learning Organisation. About 600 staff attended the Conference. Professor David Merrill from the Utah State University, a renowned speaker in the field of Instructional Technology and Mr Anthony Yeo, Clinical, Counselling and Care Centre were the keynote speakers. A special feature of this year s conference was the provision of workshops specifically organised for administrative staff. Mentoring Network A new mentoring initiative to develop the professional identity of academic staff in TP was launched on 27 November 2001. Senior Management and Excellence Award winners were invited to participate in this network which serves to build a community of mentors Academic staff picking up vital teaching skills during the Staff Induction Programme. Academic staff bonding at an experiential learning session. in TP. Their primary responsibility is to guide, advise, counsel and support their protégé in educational principles, and role-model innovation and best practices. A QUALITY CULTURE Our focus on continual improvement ensures that the Polytechnic strives to

22 23 EVENT PIX Mrs Esther Ong,, Library and Information Resources Department, receiving the Outstanding School/Department - Work Improvement Team Participation Award during the Quality Recognition Day. Class (SQC) organisations to facilitate the learning and application of the best practices from each other and that of other leading organisations. With the opportunity for learning and sharing with other SQC organisations, two projects on employee involvement and organisational culture were completed. TP held its third Quality Recognition Day on 25 April 2001. The event not only created ongoing awareness of a quality culture among staff but also celebrated quality achievements and recognised contributions by staff to TP s quality journey. The event also witnessed TP being presented with the ISO 9001 certificate by Dr Steve Lai, Chairman, PSB Certification Pte Ltd & Deputy CEO, PSB Corporation Pte Ltd. TP was presented the Public Service Award for Organisational Excellence, in recognition of its attainment of key organisational excellence standards. achieve the highest quality standards in all areas. TP joined the PSB Best Practice Network and chaired the Service 1 network: a network in which best practice projects were identified and project groups formed by some 10 Singapore Quality STELLAR ACHIEVEMENTS TP received the coveted Public Service Award for Organisational Excellence on 10 July 2001, a premier award given to recognise public service organisations which have attained key organisational excellence standards. In December 2001, TP was awarded the ISO 14001 certification for the Provision of education, training, industry services, and its supporting services in the fields of applied science, business, design, engineering and information technology. TP was commended for effectively implementing an environmental management system that meets the requirements of the standard. TP won The Enterprise Challenge (TEC) - Innovation Incubator Award for two project proposals which were approved

by TEC. The first project was the System for Therapy Assessment & Rehabilitation Training through Simulation for Tan Tock Seng Hospital. The second project was the development of a Problem-Based Learning Education Model for Higher Education in Singapore. The award, given to every Incubating Agency, aims to highlight and recognise agencies that have taken the initiative to create an environment conducive to TEC innovation, and to provide support for staff members pursuing TEC proposals. TP received the Singapore H.E.A.L.T.H. Award (Silver) for the third consecutive year from the Health Promotion Board. Our staff also did us proud. Mrs Chua Seow Ying,, Human Resource and Staff Development Department received the award for Organisation and Most Supportive Boss under the Sports ACE Award presented by the Singapore Sports Council. Mr Raymond Yuen, Section Head for the Wellness team also received the H.E.A.L.T.H. Promoter Award. PM Goh presenting the H.E.A.L.T.H. Promoter Award to Raymond Yuen, Section Head of the Wellness team. TRACKING STAFF SATISFACTION LEVELS A total of 834 staff representing 62% of TP staff participated in the Annual Employee Opinion Survey in Oct 2001 which was part of TP s ongoing effort to gather feedback from staff on workplace issues. Opportunity for learning and growth and TP s environment were areas in which staff were most satisfied with. Employee satisfaction with TP on the whole increased from 73.8% to 75.4%. Looking at kingfishers during a Parent & Child nature walk, organised as part of TP s wellness efforts. TOTAL WELLNESS Wellness activities continued to be a regular feature in our corporate calendar. For the fourth consecutive year, participation in wellness activities has been increasing at a significant rate. Starting in 1997 with 20% which

24 25 is the current average participation levels of many workplace health promotion programmes, it soared to 80% in 2001. TP staff putting their best foot forward at the Sports For Life walk. A new programme targeted at senior management was launched on 30 October 2001. The Leaders Exemplifying All Dimensions of Wellness (LEAD Well) Programme attempts to cover the many aspects of wellness to further enhance the quality of life holistically. Modelled along the same concept as the Balanced Lifestyle Incentives System (BLIsS), a system where staff chalk up wellness points when they participate in wellness activities, the LEAD Well programme rewards awareness, adoption and actualisation through the accumulation of LEAD points. In addition to the 13 in-house sports activities organised by the Staff Wellness Section, more than 800 staff and their families took part in the Singapore Sports Council s Sports for Life Walk Assessment held in May and September 2001. In the health screening that took place from 24-27 September 2001, 282 staff and their families participated in assessing their physical health status. GOOD UNION RELATIONS Senior officials from TP and AUPE, and TP AUPE Branch committee members at the signing ceremony of the new collective agreement. In the promotion of good labourmanagement relations, a new collective agreement was signed with the Amalgamated Union of Public Employees (AUPE) on 28 March 2002. The new agreement will be in force for three years from 1 April 2002.

and Energy Excitement

26 27 ENERGY AND EXCITEMENT The rapid changes brought about by innovations in new technologies and globalisation give rise to new and complex problems, which test the boundaries of traditional disciplines. To meet these challenges, educationists and business professionals must embrace a new philosophy of education and training that seeks to develop competencies to meet real world challenges. PROBLEM-BASED LEARNING TP took a bold step with the introduction of Problem-Based Learning (PBL) in the academic architecture of the Polytechnic. PBL is an inquiry-based education model that places students at the centre of the learning process in a learning environment that mirrors the working world. Real-world problems drive inquiry learning and provide the motivation for problem-solving, development of life-long learning skills and the learning of content in an integrated and meaningful context. The lecturer s role is transformed from one of being a sage on the stage to that of the guide by the side. They take on the role of skilled tutors to activate and facilitate the learning process. Temasek Centre for Problem- Based Learning The Centre serves to establish a learning culture of problem solving, entrepreneurial thinking, self-renewal and teamwork. It promotes the adoption of authentic PBL by integrating information from all disciplines through curriculum Traditional Vs. Authentic Problem-Based Learning Model Teacher Content as Curriculum Source: Wee & Kek (2002) design, delivery, assessment and research. It also provides training for academic staff to adopt this new teaching approach and consultancy services in PBL. During the review year, TP has increased adoption of PBL with the launch of a number of initiatives by the Temasek Centre for Problem-Based Learning. The Centre organised a PBL workshop for the senior management to facilitate their understanding of PBL so that they would be able to support staff who have adopted this innovation. The Centre also launched its PBL-in- Action monthly knowledge-sharing sessions and the PBL Skills Based Workshop, and conducted staff forums to promote understanding of PBL from the perspectives of course leaders, practitioners and students who have made the PBL journey. Student Integrated Knowledge Problem-solving Skills Real World Problems as Curriculum Student as Problem Solver Learning Skills Teamwork Teacher as Activator/ Facilitator Education Outcomes Self-directed

THE VALUE-ADDED EDGE In the year under review, more facilities have been added to support the teaching of courses and to improve the welfare of the staff and students. To facilitate the delivery of a new Diploma in Communications & Media Management, a computer laboratory, and a Newsroom and Publishing Room were completed in August 2001. New research laboratories for the Hybridoma Molecular Biology Labs have also been completed. Other improvement of teaching facilities included the relocation of the CyberCentre to larger premises, providing more IT facilities for students. State-of-the-art facilities for Diploma in Communications & Media Management students. The third and final phase of the weather protection project was completed in September 2001. The project included the building of sheltered linkways connecting the Plaza to the coach and taxi lay-bys, the canopies at the Plaza, and the vertical rain shields at the school concourses. LEVERAGING TECHNOLOGY FOR IMPROVED PERFORMANCE epoly In fostering a world-class infocomm environment in TP, we have exploited information technology to streamline work processes. epoly is TP s initiative to ride on the infocomm technology wave and offer its services online, including the delivery of its courses in a more effective, efficient and convenient way. In the past year, the hardware and software infrastructure for epoly have been set up, the epoly architecture and framework developed and the epoly portal designed, with three more services added: The e-poly framework for Temasek Polytechnic. the Alumni Portal System, Learning Needs Analysis System and Community & Personal Development System. IT Transformation We leverage on technology to transform the way we interact with our customers. To cater to lifestyle changes, TP has also started the dissemination of information via SMS with the first service being the dissemination of examination results. TP s Digital Library System project kicked-off in October 2001 to transform the TP Library into a high-tech, state-of-the-art digital library.

28 29 ethos. The spirit of compassion, empathy, generosity and caring is one that has been embraced by both staff and students. National Green and Clean Movement In conjunction with the National Green and Clean Movement, TP held its second Tree Planting Day on 3 November 2001. The landscapes at the Plaza, Triangular Garden and West Gate were upgraded and a new landscape was created at the Garden Grill BBQ area. The irrigation system was also upgraded to facilitate the use of recycled rainwater for the landscapes. Children from TP s on-campus childcare centre contributing their bit during Tree Planting Day. Celebrity, Isabella Rossellini interacting with students before the start of the charity gala dinner. The aim of the project is to provide students and staff with timely and convenient access to information and learning resources with a one-stop single search facility. GOOD CORPORATE CITIZENSHIP The past year saw TP continue its efforts to contribute to the community and to care for the environment. Service to the less fortunate has been the mainstay of the Polytechnic s Mentoring Students in the Community The Tutoring and Mentoring Scheme sponsored by British Petroleum is one whereby student volunteers become mentors to students from neighbourhood primary and secondary schools. More than 60 students participated in the programme during the review year. Lecturer, Ms Marie Chan received the Outstanding Advisor Award during the 6 th Annual BP Mentoring Awards Ceremony & Carnival on 15 September 2001. Marie was the only Mentor Advisor to receive this award in Singapore. Fund-Raising for the Less Privileged In partnership with the Community Chest of Singapore, TP staff and students raised more than $274,000 for the Singapore School for the Visually Handicapped and the TP Endowment Fund by organising a gala charity dinner held at the Temasek Convention Centre. The event An evening with Isabella Rossellini saw the actress, model and writer sharing her life experiences with the guests.

To raise funds for the Spastic Children s Association of Singapore, the Children at Risk Empowerment Fund and The Straits Times School Pocket Money Fund, more than 500 TP students were mobilised as volunteers from 13 October to 2 December 2001 for The Straits Times Million Dollar Duck Race 2001, with a total of $45,000 raised for the charities. Promoting Volunteerism TP participated in the Making A Difference Movement in December 2001 (an activity co-organised with the Heartware Network and National Volunteer Centre to generate more proactive involvement of youths in community service). Within a month, TP students assisted the Girls Brigade to get more than 13,000 members of the public to pledge 32,000 good deeds, with more than 48,000 hours of volunteer time to support the movement and also raised $52,000 for The Straits Times School Pocket Money Fund. Mural Painting for new National Library Building A group of 50 first year Diploma in Interior Architecture and Design students in the Temasek Design School participated in the mural design competition for the new National Library building site at Victoria Street. Four designs were chosen for painting on the site hoarding, which will remain until the library is completed in 2004. Some 100 staff and students from the Temasek Design School were involved in the painting of the murals. North-East Community Project Temasek Design School and the North- East Community Development Council collaborated on the Life in the North- East Sculpture Competition. The collaboration aimed to create a stronger DUCK RACE EVENT Student volunteers help raise funds for The Straits Times Million Dollar Duck Race 2001. Temasek Design School students painting their winning murals on the hoarding at the National Library s new site at Victoria Street. sense of belonging and identity for the North-East community and to encourage TP students involvement in the community. The sculptures, designed by first year students from the School s Diplomas in Product and Industrial Design and Visual Communication, portrayed the unique characteristics of Aljunied, Pasir Ris and Tampines GRCs. International Students in Community Service TP international students participated in community service projects as a way to immerse in the social and cultural life of the local community. International students visited homes of the elderly and helped raise funds

30 31 REACHING OUT TO OUR CUSTOMERS AND PARTNERS Senior Management staff visiting Pasir Ris Secondary School as part of TP s school outreach programme. FIRE FIGHTING Staff get hands-on fire-fighting experience as part of Emergency Preparedness. for charity organisations. To enhance the sense of identity with the North-East district and to promote community participation in district-wide events, more than 60 international students staged two dance performances at the North-East Community Development Council s Stars on Parade in February 2002. SEEKING THE BEST In its continuing quest to promote TP as an innovative and vibrant educational institution to secondary school students, the Corporate Communications Department embarked on programmes targeted at bringing TP closer to its customers and partners. A constant challenge for the polytechnic is to create greater public awareness of its programmes. The Polytechnic Outreach Centre (POC) brought TP to the heartlands by organising a series of roadshows at public venues such as the National Library branches, community clubs and Borders bookstore. The main objective of these roadshows was to provide an avenue for GCE O level school leavers and their parents to explore polytechnic education as a viable further education option. To establish better rapport with secondary schools, one of TP s key partners, the POC also organised visits by TP s senior management to targeted schools. EMERGENCY PREPAREDNESS TP s Emergency Planning Task Force was set up in October 2001 to prepare, launch and exercise the emergency system polywide on an ongoing basis. Over the past year, Emergency Preparedness awareness briefings were conducted to familiarise staff with the Polytechnic s overall emergency plan. Evacuation drills were conducted for the Library and the Temasek Business School. More than 200 staff, vendors and canteen operators participated in the drills. NATIONAL EDUCATION In support of the national efforts to cascade the National Education messages to students and staff, six National Education Student Forums and three staff dialogue sessions were organised and well attended by students and staff. Learning journeys to various historical sites in Singapore were also conducted for staff.

Corporate Information Development and Administration Committees School Advisory Committees Senate Universities Offering Advanced Standing Scholarships Academic Award/Prize Sponsors Student Intake & Enrolment by School Full-Time Courses (Academic Year 1995/1996 to 2001/2002) Student Intake & Enrolment by Diploma Full-Time Courses (Academic Year 2001/2002)

DEVELOPMENT AND ADMINISTRATION COMMITTEES 32 33 Development Committee (up to 15 April 2002) Chairman Mr Loh Soo Eng Wing Tai Holdings Ltd Members Mr Boo Kheng Hua (w.e.f. 17 Dec 2001) Principal & CEO Temasek Polytechnic Mr Lee How Sheng (Human Resource) Ministry of Home Affairs Dr N Varaprasad (up to 16 Dec 2001) Principal & CEO Temasek Polytechnic Administration Committee (up to 15 April 2002) Chairman Mr Yeo Khee Leng Chief Executive Singapore Tourism Board Members Mr Boo Kheng Hua (w.e.f. 17 Dec 2001) Principal & CEO Temasek Polytechnic RADM Ong Hung Eng Commandant SAFTI Military Institute Mr Seah Seng Choon Skills Development Department NTUC Mrs Tan Ching Yee Deputy Secretary (Policy) Ministry of Education Dr N Varaprasad (up to 16 Dec 2001) Principal & CEO Temasek Polytechnic Prof Yue Chee Yoon Dean School of Mechanical & Production Engineering Nanyang Technological University Administration Committee (with effect from 16 April 2002) Chairman Mr Lim Kok Min, John Chairman Senoko Power Ltd Members Mr Boo Kheng Hua Principal & CEO Temasek Polytechnic Mr Chan Yeng Kit Deputy Secretary (Policy) Ministry of Education COL Loh Wai Keong Head Joint Operations Ministry of Defence Dr Toh See Kiat Chairman Goodwins Law Corporation

SCHOOL ADVISORY COMMITTEES Temasek Applied Science School Advisory Committee Chairman Dr Loh Wah Sing Divisional (Business Development) Institute of High Performance Computing Deputy Chairman Mrs Soon-Ong Meng Wan Temasek Applied Science School Members Ms Ang Hui Gek Manager, Pharmacy Singapore General Hospital Mr Leslie John Cheong Head Technology Development & Services Branch Agrotechnology Division Agri-Food & Veterinary Authority Mr Chua Song Khim Chief Executive Officer National University Hospital Mr Lee Chow Kuan Supply Chain Manager The Polyolefin Company Dr Lien Wen Sze (up to 31 Aug 2001) Group Manager Product Development Nestle R & D Centre Pte Ltd Mr Foo Check Woo (w.e.f. 2 Aug 2001) Group Manager Scientific Support Nestle R & D Centre Pte Ltd Dr Lin Yue Medical Affairs Medical Affairs Department GlaxoSmithKline Ms Loh Chin Siew Head BioMedical Sciences Group Economic Development Board Assoc Prof Pua Eng Chong Head, Plant Genetic Engineering Laboratory Department of Biological Sciences National University of Singapore Dr Kannappan Thangaraj Manufacturing Manager Schering-Plough Ltd Temasek Business School Advisory Committee Chairman Mr Zulkifli Baharudin Senior Vice President Avitra Aviation Services Pte Ltd Deputy Chairman Mr Wong Loke Jack Temasek Business School Members Assoc Prof Hwang Soo Chiat Associate Professor Singapore Management University Mr Neil Jacobs Regional Vice President & General Manager Four Seasons Hotel Singapore Mr Kon Yin Tong Partner Foo Kon Tan Grant Thornton Dr James Loh Managing Consultant Unidegree Consultancy Mr Naresh Mahtani (up to 1 Jun 2002) UniLegal Limited Liability Corporation

Senior Management 34 35 Mr Chelva Retnam Rajah, Senior Counsel Senior Partner Tan Rajah & Cheah Dr Chitra Rajaram Editor, Tamil Murasu Singapore Press Holdings Ltd Ms Tan Beng Tee (up to 1 Jun 2002) International Singapore Companies Group International Enterprise Singapore Mr Tan Soo Jin Managing Gattie-Tan Soo Jin Management Consultants Pte Ltd/Amrop Hever Group Mr Yap Puay Beng Business Development Consultant (Tourism) Pacific Century Cyber Works Temasek Design School Advisory Committee Chairman Ms Su Yeang CEO Citigate Su Yeang Design Pte Ltd Deputy Chairman Mr Alistair Leung Kam Kui Temasek Design School Members Mr Andrew Cheng Vice President, Production Services MediaCorp Studios Pte Ltd Mr Barry Hill (up to 31 Aug 2002) Regional Davenport Campbell (S) Pte Ltd Mr Chris L C Koh Pacific Garment Manufacturing Pte Ltd Mrs Celia Loe (up to 31 Aug 2002) First Stop Pte Ltd Mr Low Cheaw Hwei Senior Design Account Audio, Global Philips Electronics Singapore Pte Ltd Mr Patrick Low Executive Creative Dentsu Young & Rubicam Mr Mok Wei Wei (up to 31 Aug 2002) Managing William Lim Associates Mr Simon Ong Group Executive Kingsmen International Pte Ltd Mr Peer Sathikh (up to 31 Aug 2002) Managing Inovasia Design Pte Ltd Mr Desmond Sim Managing The Green House Mr Nigel Smith Managing Design in Action (S) Pte Ltd Mr Tan Kay Ngee (up to 31 Mar 2002) Managing KNTA Architects Mr Sebastian Tan Managing /Principal Photographer Shooting Gallery/Wishing Well

Ms Shona Tan (up to 31 Mar 2002) Deputy Design Centre & Corporate Communications Singapore Trade Development Board Mr Yong Poh Shin (up to 31 Aug 2002) Managing Royal Selangor (S) Pte Ltd Temasek Engineering School Advisory Committee Chairman Mr Chan Meng Wah Alexander (up to 15 Apr 2002) Executive MMI Holdings Ltd Mr Seah Moon Ming (w.e.f. 16 Apr 2002) President ST Electronics Ltd Deputy Chairman Mrs Lay-Tan Siok Lie Temasek Engineering School Members Dr Lap Chan R & D Chartered Semiconductor Manufacturing Ltd Dr Chia Kay Hua, Jeremy Managing Utopia Group of Companies Assoc Prof Chong Chee Leong NUS-SPRING Centre for Best Practices National University of Singapore Assoc Prof Kam Chan Hin Vice Dean (Academic) School of Electrical & Electronic Engineering Nanyang Technological University Mr Koh Whatt Hin of Engineering Storage Systems Division Networking Hardware Division IBM Singapore Pte Ltd Mr Pang Toh Kang (up to 1 Aug 2002) Executive Vice-President (Business Development International) PWD Consultants Pte Ltd Mr Phoon Wai Meng General Manager Agilent Technologies (S) Pte Ltd Mr Tan Tong Hai (up to 1 Aug 2002) President/CEO Pacific Internet Limited Mr Wee Kim Tien, Christopher of Engineering IMT Pte Ltd Mr Wu Tek Ming Chief Executive Officer PSB Certification Pte Ltd With effect from 1 June 2002 COL (NS) Larry Ang Project BioInformatics Institute & Secretariat, BioMedical Grid Task Force BioInformatics Institute Mr Cheah Chow Seng Vice President and General Manager Worldwide Manufacturing Imaging & Printing Supply Chain Operation Hewlett Packard (S) Pte Ltd Mr Chue Fook Chee Senior Vice-President M&E Engineering Division PWD Consultants Pte Ltd

SENATE 36 37 Mr Andrew Lim Regional Education and Research, Asia South SUN MicroSystems Pte Ltd Prof Lun Kwok Chan Professor and Vice-Dean (Academic) and IMIA President School of Biological Sciences Nanyang Technological University Temasek Information Technology School Advisory Committee Chairman Mr Saw Ken Wye General Manager Asia Pacific (Network Service Providers) Microsoft Singapore Deputy Chairman Mr Tan Dek Yam Temasek Information Technology School Members Mr Keith Budge Managing Oracle Systems S.E.A. (S) Pte Ltd Mr Bill Chang (up to 27 Aug 2001) Country Manager, Singapore Cisco Systems (USA) Pte Ltd Mr Thomas Yong (w.e.f. 5 Sep 2001) Senior Sales Manager (for Government & Education) Cisco Systems (USA) Pte Ltd Mr Raymond Lim Corporate Services National Library Board Mr Lo Yoong Khong Deputy Manpower Development Infocomm Development Authority of Singapore Mr Robert Tan Managing Pericon.com Pte Ltd Mr Jimmy Yeoh IT Manager DHL International (S) Pte Ltd Senate Senate is the main and final body in the Polytechnic that determines the academic standards of all courses offered by TP. Senate approves the various courses of study, setting the minimum entry requirements to these courses, and approving the curriculum and the assessment criteria. Senate also periodically reviews the various courses of study. Senate is chaired by the Principal & CEO. Senate comprises Deputy Principal, Registrar, s of the Academic Schools, appointed members and elected members. Mr William Claxton Managing OpenAsia Solutions Pte Ltd Dr Leong Mun Kew Senior Member, Research Staff Kent Ridge Digital Labs

UNIVERSITIES OFFERING ADVANCED STANDING Australia University of Adelaide Australian National University (ANU) Australia Maritime College University of Canberra Curtin University of Technology Charles Sturt University Deakin University Edith Cowan University Flinders University of South Australia Griffith University International College of Hotel Management La Trobe University Macquarie University University of Melbourne Monash University Murdoch University University of New England University of New South Wales University of Newcastle University of Queensland Queensland University of Technology (QUT) Royal Melbourne Institute of Technology (RMIT) Southern Cross University Swinburne University of Technology University of South Australia University of Sydney University of Tasmania University of Technology, Sydney University of Western Australia University of Wollongong Victoria University of Technology Central Queensland University Tasmania College of Art and Design University of Western Sydney Canada University of Alberta University of Lethbridge McMaster University Ryerson Polytechnic University University of Toronto Okanagan University College Simon Fraser University University of Victoria Hong Kong City University of Hong Kong United Kingdom University of Aberdeen University of Abertay Dundee Anglia Polytechnic University Aston University University of Bath University of Belfast University of Birmingham Birmingham College of Food, Tourism & Creative Studies University of Bournemouth University of Bradford University of Buckingham University of Central England in Birmingham University of Central Lancashire Coventry University University of East London De Montfort University University of Dundee University of East Anglia University of Edinburgh University of Essex University of Glasgow Glasgow School of Art University of Greenwich University of Huddersfield Heriot-Watt University University of Hull University of Kent at Canterbury University of Lancaster University of Leeds Leeds Metropolitan University University of Leicester University of Lincolnshire & Humberside University of Liverpool University of London: Guildhall University of London: King s College University of London: Queen Mary & Westfield College University of London: Royal Holloway University of London: University College University of Loughborough University of Luton Manchester Metropolitan University Middlesex University University of Manchester UMIST University of Napier University of Newcastle (Upon Tyne in UK) University of Northumbria at Newcastle University of North London University of Nottingham Nottingham Trent University Oxford Brookes University University of Paisley University of Portsmouth Robert Gordon University University of Reading University of Salford University of Sheffield South Bank University University of Southampton University of Staffordshire University of Stirling University of Strathclyde University of Sunderland University of Surrey University of Sussex University of Ulster University of Wales, Aberystwyth

38 39 University of Wales, Cardiff University of Wales, Swansea University of Warwick University of Westminster University of Wolverhampton University of Bristol City University University of Exeter University of Glamorgan Thames Valley University London College of Printing London College of Fashion Royal College of Arts Central St. Martins College of Art & Design Kent Institute of Art & Design Kingston University United States of America Art Center Arizona State University California State University, FRESNO Carnegie Mellon University Cogswell College of Art University of Hawaii University of Hawaii, Hilo Hawaii Pacific University Johnson & Wales University Michigan Technological University University of Northern Iowa Southern California Institute of Architecture (SCI-ARC) State University of New York Oswego, Geneseo, Brockport, Buffalo University of Toledo University of Wisconsin Stevens Points, Stout Parsons School of Design Pratt Institute Rhode Island School of Design San Francisco Design Academy Savannah College of Art and Design Syracuse University Washington State University Wichita State University The School of Art Institute of Chicago Fairleigh Dickinson University Indiana University, Purdue University, Indianapolis (IUPUI) Ohio State University University of Maryland North Dakota State University New Zealand University of Auckland University of Canterbury Lincoln University Massey University University of Otago University of Waikato Victoria University of Wellington Mauritius University of Mauritius Germany State Academy of Fine Arts, Stuttgart Finland Vaasa Polytechnic Italy Domus Academy The Netherlands Einhoven Design Academy (The Design Academy) Sweden UMEA Academy, Institute of Design Switzerland Swiss Hotel Association, Hotel Management School at Les Roches International Hotel Management Institute, Lucerne International Tourism Institute, Lucerne University Centre Cesar Ritz Others The following British Universities accept our Law & Management graduates into the First Year of their Law degree: University of Birmingham University of Durham University of Exeter University of Leicester University of London: King s College University of London: University College London School of Economics University of Southampton Professional Bodies British Computer Society Chartered Institute of Management Accountants (CIMA), UK Association of Chartered Certified Accountants (ACCA), UK Chartered Institute of Marketing (CIM), UK Institute of Legal Executives (ILEX), UK Singapore Association of the Institute of Chartered Secretaries & Administration (SAICSA)

SCHOLARSHIPS Centre for Tourism Related Studies Scholarship CSA Automated Scholarship DBS Bank Scholarship Delgro Scholarship Delphi Automotive Systems Singapore Pte Ltd Scholarship Lee Kuan Yew Scholarship to Encourage Upgrading (LKY-STEP) Award Tay Eng Soon Scholarship Netbizz Commerce Scholarship Ngee Ann Kongsi Tertiary Scholarship NTUC Fairprice Scholarship Prima Scholarship PWD Consultants Scholarship Singapore Exchange Scholarship Singapore Food Industries Scholarship Singapore Hokien Huay Kuan Tertiary Scholarship SINDA Scholarship SIM-RMIT Scholarship Singapore Press Holdings Art Diploma Scholarship Singapore Training And Development Association Scholarship Skal Club of Singapore Scholarship The Chartered Institute of Marketing Singapore Scholarship UOB Group Scholarship

ACADEMIC AWARD/PRIZE SPONSORS 40 41 Company 1st Avenue 3-D Prototyping Pte Ltd 3e illumination Pte Ltd Abacus Travel Systems Pte Ltd Abbott Laboratories (Singapore) Pte Ltd AEC. Edu Group Pte Ltd All Eight Marketing Services Pte Ltd Allen & Gledhill Allied Technologies (S) Pte Ltd AlliedSignal Singapore INC. Bax Global Pte Ltd BDP (Asia Pacific) Pte Ltd Glaxo Smithkline Pte Ltd Cast Laboratories Pte Ltd Chartered Semiconductor Manufacturing Ltd Chee Ngai Plastic & Metal Fabricators Pte Ltd Cisco Systems (USA) Pte Ltd Drew & Napier LLC EAC Technical Marketing Pte Ltd Ecquaria Technologies Pte Ltd Ericsson Telecommunications Pte Ltd Eutech Cybernetics Pte Ltd Excelpoint Systems (Pte) Ltd Flash Technology Pte Ltd Foo Kon Tan Grant Thornton Frontstep (Singapore) Pte Ltd G2000 Apparel (S) Pte Ltd Genetron Engineering Corporation (Pte) Ltd GES Singapore Pte Ltd Heller Financial (Singapore) Ltd Hemsley Holding Pte Ltd Hoh & Partners Hong Leong Holdings Ltd HTL International Holdings Ltd IEEE Singapore R/CPMT Chapter Imaginit Technologies (S) Pte Ltd Inland Revenue Authority of Singapore Insight Vacations (S) Pte Ltd Institute of Chartered Accountants in Australia Institute of Industrial Engineers, Singapore Integrated Decision Systems Consultancy Pte Ltd KENDA Technologies Pte Ltd Kodak (Singapore) Pte Ltd KPMG Lee Foundation Leica Instruments (Singapore) Pte Ltd Loke Lum & Partners Lynn Jen Trading Co. Pte Ltd Macromedia South Asia Pte Ltd Madhavan Partnership Maxtor Peripherals (S) Pte Ltd Measurement & Metrology (S) Pte Ltd MediaCorp Radio Singapore Pte Ltd MKS Instruments, Inc MobileOne (Asia) Pte Ltd National Library Board National Matsushita Electric Works (Asia Pacific) Pte Ltd NIC Components Asia Pte Ltd Nobel Design Holdings Ltd Onn Wah Precision Engineering Pte Ltd Operational Research Society of Singapore Oracle Corporation Singapore Pte Ltd Palakrishnan and Partners Parametric Technology Singapore Pte Ltd Peter Low Tang & Belinda Ang Real Estate Developers Association of Singapore Robert Wong & Co. Rodyk & Davidson Seksun Corporation Limited Sentosa Development Corporation Shell Eastern Petroleum (Pte) Ltd Shimadzu (Asia Pacific) Pte Ltd Shriro (Singapore) Pte Ltd SIA Engineering Company Ltd SiberHegner (S.E.A) Pte Ltd Singapore Logistics Association Singapore Mathematical Society Singapore Network Services Pte Ltd Singapore Nutrition and Dietetics Association Singapore Teachers Union Singapore Telecom Mobile Pte Ltd Singapore Tourism Board SPS-DA Pte Ltd STMicroelectronics Pte Ltd Stone Forest IT Pte Ltd Tamco (Singapore) Pte Ltd Tech Semiconductor Singapore Pte Ltd Tex Line Associates Pte Ltd The Institution of Electrical Engineers Singapore The Polyolefin Company (Singapore) Pte Ltd The Singapore Association of the Institute of Chartered Secretaries and Administrators Thomson multimedia Asia Pacific Pte Ltd Trans-Link Express Pte Ltd Unisteel Technology Ltd Wearnes International (1994) Ltd Weber Shandwick Worldwide (Singapore) Pte Ltd Wincor Nixdorf Pte Ltd

STUDENT INTAKE & ENROLMENT BY SCHOOL Full-Time Courses (Academic Year 1995/1996 to 2001/2002) Temasek Applied Science School 1995/1996 1996/1997 1997/1998 1998/1999 115 116 198 309 210 508 400 783 1999/2000 2000/2001 2001/2002 360 383 448 934 1084 1143 Temasek Business School 1995/1996 1996/1997 1997/1998 1998/1999 1999/2000 2000/2001 2001/2002 681 1037 1045 1080 1043 1213 1194 1685 2199 2688 3060 3101 3256 3407 Temasek Design School 1995/1996 239 575 1996/1997 1997/1998 1998/1999 1999/2000 2000/2001 2001/2002 244 259 270 285 288 290 638 695 734 774 810 828

42 43 Temasek Engineering School 1995/1996 1996/1997 1997/1998 1998/1999 1999/2000 2000/2001 2001/2002 1197 2162 1747 1906 1954 1887 2014 1751 3419 4629 5282 5546 5740 5865 Temasek Information Technology School 1995/1996 1996/1997 1997/1998 1998/1999 1999/2000 2000/2001 2001/2002 412 905 507 1116 495 1286 722 1603 704 1875 618 1988 620 1900 Intake Enrolment

STUDENT INTAKE & ENROLMENT BY DIPLOMA Full-Time Courses (Academic Year 2001/2002) 2001/2002 Intake Enrolment Temasek Applied Science School Applied Food Science & Nutrition 107 296 Biotechnology* - 77 Chemical Engineering 137 362 Consumer Science & Technology 47 150 Life Sciences (Biotech/Biomedical Tech/Pharmaceutical)* 157 258 Total 448 1143 Temasek Business School Accounting & Finance 130 413 Business/Logistics & Operations Management/Marketing 460 500 Business - 547 Logistics & Operations Management - 252 Marketing - 235 Business Information Technology 222 447 Communications & Media Management 63 63 Hospitality Management 117 340 Law & Management** 109 246 Legal Studies** - 98 Tourism Management 93 266 Total 1194 3407 > > > > Common First Year Temasek Design School Apparel Design & Merchandising 46 142 Interactive Media Design 75 202 Interior Architecture & Design 50 131 Product & Industrial Design 45 138 Visual Communication 74 215 Total 290 828 Temasek Engineering School Biomedical Informatics & Engineering 74 74 Computer Engineering/Electronics/Microelectronics/Telecommunications 754 1224 + Computer Engineering - 253 + Electronics - 1046 + Microelectronics - 242 + Telecommunications - 256 Info-communications 225 455 Intelligent Building Technology 212 593 Mechatronics/Product Engineering 379 544 Mechatronics - 680 Product Engineering - 164 Quality Engineering & Management 107 334 Total 1751 5865 + Common First Year; Common First Year Temasek Information Technology School Information Studies 85 226 Information Technology/Internet Computing 535 580 # Information Technology - 480 # Internet Computing - 614 Total 620 1900 # Common First Year * Diploma in Biotechnology was renamed Diploma in Life Sciences (Biotech/Biomedical Tech/ Pharmaceutical) for Year 1 and Year 2 students in Academic Year 2001/2002. ** Diploma in Legal Studies was renamed Diploma in Law & Management for Year 1 students in Academic Year 2000/2001.

TEMASEK POLYTECHNIC Financial Figures FY2001/02 44 45 Government Grants 78.65% S$120.10m Fee Income 18.28% S$27.92m Miscellaneous Income 3.07% S$4.69m ACTUAL OPERATING INCOME S$m % Fee Income 27.92 18.28 Miscellaneous Income 4.69 3.07 Government Grants 120.10 78.65 152.71 100.00 Other operating expenditure 25.97% S$37.84m 15,000 Expenditure on manpower 74.03% S$107.88m ACTUAL OPERATING EXPENDITURE S$m % Expenditure on manpower 107.88 74.03 Other operating expenditure Staff related expenditure 3.24 Student related expenditure 6.16 Admin Expenses & maintenance 28.44 37.84 25.97 145.72 100.00 10,000 $10,947 $10,512 $8.998 $9,029 Cost per student S$ FY2001/2002 10,947 FY2000/2001 10,512 FY1999/2000 8,998 FY1998/1999 9,029 5,000 0 FY01/02 FY00/01 FY99/00 FY98/99

Financial Statements

Auditor s Report to Temasek Polytechnic (Established under the Temasek Polytechnic Act, Cap 323A) 46 47 We have audited the financial statements of Temasek Polytechnic ( the Polytechnic ) for the financial year ended 31 March 2002 set out on pages 48 to 64. These financial statements are the responsibility of the Polytechnic. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Singapore Standards on Auditing. Those Standards require that we plan and perform our audit to obtain reasonable assurance whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by the Polytechnic, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, (a) (b) the accompanying financial statements are properly drawn up in accordance with the provisions of the Temasek Polytechnic Act, Cap 323A ( the Act ) and Singapore Statements of Accounting Standard and so as to give a true and fair view of the state of affairs of the Polytechnic at 31 March 2002, its results, changes in accumulated surplus, and cash flows for the financial year ended on that date; and the accounting and other records, and the registers required by the Act to be kept by the Polytechnic have been properly kept in accordance with the provisions of the Act, including record of all assets of the Polytechnic whether purchased, donated or otherwise. During the course of our audit, nothing came to our notice that caused us to believe that the receipt, expenditure and investment of monies and the acquisition and disposal of the assets by the Polytechnic during the financial year have not been made in accordance with the provisions of the Act. PricewaterhouseCoopers Certified Public Accountants Singapore, 26 June 2002

TEMASEK POLYTECHNIC Income and Expenditure Statement For the Financial Year ended 31 March 2002 Note General Fund Other Funds Total 2001/02 2000/01 2001/02 2000/01 2001/02 2000/01 S$ 000 S$ 000 S$ 000 S$ 000 S$ 000 S$ 000 OPERATING INCOME Education & General Student fees 27,918 25,309 - - 27,918 25,309 Other income 1,558 1,133 825 773 2,383 1,906 Donations 308 346 11 319 319 665 Courses, projects, seminars & talks 2,264 1,414 8,360 5,772 10,624 7,186 Student Projects 754 633 - - 754 633 Staff Model Projects 57 62 - - 57 62 32,859 28,897 9,196 6,864 42,055 35,761 OPERATING EXPENDITURE Education & General Salaries, CPF and other related costs 3 107,884 97,348 - - 107,884 97,348 Depreciation 12 42,261 43,734 42 54 42,303 43,788 Repairs and maintenance 15,458 12,966 - - 15,458 12,966 Fixed assets expensed off 5,774 2,384 - - 5,774 2,384 Staff benefits 3,240 3,803 - - 3,240 3,803 Travelling and communication 2,478 2,360 - - 2,478 2,360 Teaching materials and consumable supplies 2,393 2,252 - - 2,393 2,252 Student welfare 2,193 2,352 - - 2,193 2,352 Miscellaneous 1,818 3,089 865 639 2,683 3,728 Public relations and publicity 1,623 1,909 - - 1,623 1,909 Library books and materials 1,571 1,376 - - 1,571 1,376 Rental 737 616 - - 737 616 Office supplies, stationery and periodicals 639 772 - - 639 772 Provision for losses incurred by a subsidiary 15 610 - - - 610 - Consultancy fees 540 599 - - 540 599 Computer software 188 103 - - 188 103 Audit fee 45 47 - - 45 47 Courses, projects, seminars & talks 2,037 1,225 5,778 3,832 7,815 5,057 Student Projects 754 633 - - 754 633 Staff Model Projects 57 62 - - 57 62 192,300 177,630 6,685 4,525 198,985 182,155 OPERATING (DEFICIT) / SURPLUS 4 (159,441) (148,733) 2,511 2,339 (156,930) (146,394) NON-OPERATING INCOME Interest 5 562 648 12 3 574 651 SURPLUS / (DEFICIT) BEFORE GRANTS (158,879) (148,085) 2,523 2,342 (156,356) (145,743) GRANTS Deferred capital grants amortised: Government 9 40,923 42,393 - - 40,923 42,393 Others 10 1,369 1,507 - - 1,369 1,507 Operating grants - - - - - - Government 6 123,565 110,299 - - 123,565 110,299 165,857 154,199 - - 165,857 154,199 SURPLUS FOR THE FINANCIAL YEAR 6,978 6,114 2,523 2,342 9,501 8,456 Liew Mun Leong Chairman Board of Governors Boo Kheng Hua Principal & CEO 26 June 2002 The accompanying notes form an integral part of the financial statements

TEMASEK POLYTECHNIC Balance Sheet As at 31 March 2002 48 49 Note 2001/02 2000/01 S$ 000 S$ 000 ACCUMULATED SURPLUS General Fund 7 41,294 39,551 Other Funds 7 10,996 8,473 52,290 48,024 TEMASEK POLYTECHNIC ENDOWMENT FUND 8 808 - DEFERRED CAPITAL GRANTS Government 9 500,851 516,520 Others 10 4,039 2,884 STAFF AND STUDENT LOAN FUNDS 11 5,687 11,020 563,675 578,448 Represented by: FIXED ASSETS 12 502,613 515,724 CAPITAL WORK-IN-PROGRESS 13 2,415 3,815 LOANS TO STAFF AND STUDENTS 14 4,932 5,369 INVESTMENT IN SUBSIDIARY 15 - - CURRENT ASSETS Sundry debtors, deposits and prepayments 16 1,823 21,190 Course in progress 44 2,026 Staff and student loans 14 291 609 Investment in bonds 17 2,250 - Fixed deposit 18 72,655 5,000 Cash and bank balances 18 13,170 98,279 90,233 127,104 CURRENT LIABILITIES Government grants received in advance 6,754 13,024 Sundry creditors and accruals 19 27,722 55,593 Provision for losses incurred by a subsidiary 15 610 - Deferred income for course in progress 1,432 4,947 36,518 73,564 NET CURRENT ASSETS 53,715 53,540 563,675 578,448 The accompanying notes form an integral part of the financial statements

TEMASEK POLYTECHNIC Statement of Changes in Accumulated Surplus For the Financial Year ended 31 March 2002 Accumulated Surplus Note General Fund Other Funds Total S$ 000 S$ 000 S$ 000 Balance at 1 April 2001 39,551 8,473 48,024 Less: Appropriation for settlement of GST liability 22 5,235-5,235 Add : Surplus for the financial year 6,978 2,523 9,501 Balance at 31 March 2002 41,294 10,996 52,290 Balance at 1 April 2000 33,437 6,131 39,568 Add : Surplus for the financial year 6,114 2,342 8,456 Balance at 31 March 2001 39,551 8,473 48,024 The accompanying notes form an integral part of the financial statements

TEMASEK POLYTECHNIC Cash Flow Statement For the Financial Year ended 31 March 2002 50 51 Note 2001/02 2000/01 S$ 000 S$ 000 CASH FLOWS FROM OPERATING ACTIVITIES Operating deficit before Government Grant (156,356) (145,743) Adjustments: Depreciation 12 42,303 43,788 Loss/(Gain) on disposal of fixed assets 4 (30) 113 Capital charge expensed off - 1,639 Provision for bad and doubtful debts 4 2 33 Provision for losses incurred by a subsidiary 15 610 - Provision for unutilised staff leave 2,464 - Interest Income 5 (574) (651) Operating deficit before working capital changes (111,581) (100,821) Decrease/(increase) in sundry debtors, deposits & prepayments 21,448 (7,354) (Decrease)/increase in creditors and accruals (42,452) 20,079 Cash used in operations (132,585) (88,096) Decrease/(Increase) in staff loans 1,819 1,709 Increase in student loans (1,065) (811) (Decrease)/increase in staff loan fund (6,606) 1,941 Increase in student loan funds 1,274 985 Donations received for Temasek Polytechnic Endowment Fund 808 - Grants received from other organisations 848 1,497 Net cash used in operating activities (135,507) (82,775) CASH FLOWS FROM INVESTING ACTIVITIES Interest received 473 654 Purchase of fixed assets (24,565) (28,351) Purchase of bonds (2,250) - Proceeds from sale of fixed assets 39 54 Capital expenditure (WIP) (2,415) (3,815) Net cash used in investing activities (28,718) (31,458) CASH FLOWS FROM FINANCING ACTIVITIES Development grants received from Government 27,426 26,430 Development grants received from Statutory Board 1,015 54 Operating grants received from Government 123,565 109,086 Appropriation of Retained Savings for GST payment (5,235) - Net cash from financing activities 146,771 135,570 NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS (17,454) 21,337 CASH AND CASH EQUIVALENTS AT 1 APRIL 18 103,279 81,942 CASH AND CASH EQUIVALENTS AT 31 MARCH 18 85,825 103,279

TEMASEK POLYTECHNIC Notes to The Financial Statements These notes form an integral part of and should be read in conjunction with the accompanying financial statements. 1. GENERAL The Temasek Polytechnic was established in 1990 under the Temasek Polytechnic Act (Chapter 323A). It is domiciled in Singapore and the financial statements are expressed in Singapore Dollars. Its campus is situated at: 21, Tampines Avenue 1 Singapore 529757 The principal activity of the Polytechnic is to provide instruction, training and research in technology, science, commerce, arts and other subjects of learning. 2. SIGNIFICANT ACCOUNTING POLICIES A) BASIS OF ACCOUNTING The financial statements have been prepared in accordance and comply with the Singapore Statements of Accounting Standard. The financial statements are prepared under the historical cost convention except for donated assets which are taken up at valuation. In FY 2001/02, the Polytechnic adopted the following new/revised accounting standards: SAS 8 (Revised 2000) SAS 10 (Revised 2000) SAS 17 (Revised 2000) SAS 31 SAS 32 SAS 36 Net Profit or Loss for the Period, Fundamental Errors and Changes in Accounting Policies Events occurring after the Balance Sheet Date Employee Benefits Provisions, Contingent Liabilities and Contingent Assets Financial Instruments - Disclosure and Presentation Impairment of Assets B) RECOGNITION OF INCOME Tuition and other fees for the academic year are recognised in the financial year they are billed. Interest income is recognised on an accrual basis. During the financial year, the Polytechnic changed its revenue recognition policy for self-financing courses/projects from completion of courses/projects to recognising the income based on percentage of completion, determined on a straight line basis over the period of the courses/ projects. The change would result in a fairer presentation of the financial statements. Had the accounting policy for revenue recognition not been changed, the surplus reflected in the Income and Expenditure Statement would have been lower by S$1.6 million. Comparative information has not been restated as it is impracticable to reasonably estimate the amount.

52 53 C) GRANTS Government grants and contributions from other organisations utilised for the purchase of depreciable assets and donated assets at valuation are taken to the Deferred Capital Grants Account. The deferred capital grants are recognised in the Income and Expenditure Statement over the periods necessary to match the depreciation of the assets purchased with the related grants. Government grants to meet the current year s operating expenses are taken to the Income and Expenditure Statement for the year. Government grants are accounted for on an accrual basis. D) FUNDS General Fund Income and expenditure relating to the main activities of the Polytechnic are accounted for in the General Fund column in the Income and Expenditure Statement. Other Funds Income and expenditure relating to funds set up for specific purposes are accounted for in the Other Funds column in the Income and Expenditure Statement. The assets and liabilities of these funds are accounted for separately. However, for presentation purposes, they are pooled together with the other assets and liabilities of the Polytechnic in the Balance Sheet. E) FIXED ASSETS AND DEPRECIATION Fixed assets are stated at cost less accumulated depreciation. Donated assets are recorded at valuation as their cost base. Depreciation is calculated on the straight-line method to write down the cost of the fixed assets over their estimated useful lives as follows: Leasehold Land Leasehold Building Building Improvements Plant and machinery Furniture, Fittings and Equipment Computer Hardware and Software Workshop Equipment and Machinery Vehicles Remaining lease period 50 years 5 years 10 years 5 years 3 to 5 years 5 to 10 years 5 years Fixed assets costing less than S$2,000 (FY 2000/01 S$1,000) are written off to the Income and Expenditure Statement in the year of purchase.

F) INVESTMENTS Quoted and unquoted investments that are intended to be held for the long term are stated at cost and provision is only made in recognition of a diminution in the value of the investments which is other than temporary. Investment in unquoted equity shares in subsidiaries are stated at cost. Provision is made for any diminution in value other than temporary. Investments in bonds are stated at the lower of market value and cost. Gains and losses on disposal of investments are taken to the Income and Expenditure Statement. G) CASH AND CASH EQUIVALENTS For the purpose of the cash flow statement, cash and cash equivalents comprise fixed deposits, cash on hand and bank balances. H) FOREIGN CURRENCY TRANSACTIONS Foreign currency transactions are accounted for at the exchange rates prevailing at the date of the transactions. Gains and losses resulting from the settlement of such transactions and from the translation of monetary assets and liabilities denominated in foreign currencies are recognised in the Income and Expenditure Statement. Such balances are translated at year-end exchange rates. I) ACCOUNTING FOR LEASES A distinction is made between finance leases which effectively transfer from the lessor to the lessee substantially all the risks and benefits incidental to the ownership of the leased assets, and operating leases under which the lessor effectively retains substantially all such risks and benefits. Finance leases are capitalised at the estimated present value of the underlying lease payments. Each lease payment is allocated between the liability and finance charges so as to achieve a constant rate of return on the balance outstanding. The corresponding rental obligations, net of finance charges, are included in other long-term payables. The interest element of the finance charge is charged to the Income and Expenditure Statement over the lease period. Fixed assets acquired under finance leasing contracts is depreciated over the useful life of the asset. Operating lease payments are charged to the Income and Expenditure Statement on a straight line basis over the period of the lease. When an operating lease is terminated before the lease period has expired, any payment required to be made to the lessor by way of penalty is recognised as an expense in the period in which termination takes place. J) PROVISIONS Provisions are recognised when the Polytechnic has a present legal or constructive obligation as a result of past events and it is possible that an outflow of resources will be required to settle the obligation, and reliable estimate of the amount can be made.

54 55 K) EMPLOYEE BENEFITS Employee leave entitlement Employee entitlements to annual leave are recognised when they accrue to employees. A provision is made for the estimated liability for annual leave as a result of services rendered by employees up to balance sheet date. Defined contribution plan The Polytechnic operates a defined contribution plan in the form of Central Provident Fund. The Polytechnic s obligation, in regard to the defined contribution plan, is limited to the amount it contributes to the fund. The expenses are disclosed under staff costs (Note 3). L) FINANCIAL RISK MANAGEMENT The activities of Temasek Polytechnic does not expose it to any foreign exchange risk and there is no significant credit risk. Its income and cashflows are substantially independent of changes in the market interest rates. Temasek Polytechnic places its excess cash in fixed deposits with financial institutions and in bonds. There is no significant liquidity risk as it maintains sufficient cash for its operations. 3. STAFF COSTS 2001/02 2000/01 S$ 000 S$ 000 Salaries and wages 93,392 86,140 Employer s contribution to Central Provident Fund 14,492 11,208 107,884 97,348 Average monthly number of permanent staff employed for the financial year: 2001/02 2000/01 Head Count 1,344 1,259 In addition to the permanent staff, the Polytechnic also engaged adjunct lecturers and temporary staff. 4. OPERATING (DEFICIT) / SURPLUS 2001/02 2000/01 S$ 000 S$ 000 This is arrived at after charging: Bad debts 1 4 Entertainment 12 20 Exchange loss 29 7 Loss on disposal of fixed assets - 113 Overseas travel 399 646 Property tax 98 105 Provision for doubtful debts 1 29 And crediting: Gain on disposal of fixed assets 30 - Rental income 798 879

5. FINANCE INCOME 2001/02 2000/01 S$ 000 S$ 000 Interest Income Bonds 44 - Fixed Deposits 299 138 Current Accounts 231 513 574 651 6. OPERATING GRANTS - GOVERNMENT 2001/02 2000/01 S$ 000 S$ 000 Operating grants received during the year 127,576 117,674 Less: Operating grants utilised on fixed assets transferred to deferred capital grants (Government) (Note 9) 3,579 6,941 Operating grants utilised on co-funded fixed assets transferred to deferred capital grants (Others) (Note 10) 432 434 4,011 7,375 123,565 110,299 Operating grants received since establishment of the Polytechnic 717,196 593,631 Cumulative operating grants received for GST subsidy 27,405 22,949 7. ACCUMULATED SURPLUS General Fund Of the accumulated surplus of S$41.3 million (FY2000/01 S$39.6 million) in the General Fund, approximately S$1.3 million (FY2000/01 S$2.5 million) has been utilised for the purchase of fixed assets or committed for future capital expenditure. Other Funds Other Funds comprise the following funds: Name of Fund Purpose A) Bursary and Scholarship Fund Providing financial assistance to needy students and scholarships to students who excel academically and in extra-curricular activities. B) Staff Apartment Fund Maintaining and upgrading of the Polytechnic s staff apartments. C) Temasek Polytechnic Providing financial support for: Endowment Fund a. staff development; b. student development, focusing on international exchange; c. promotion of innovation; d. bringing relevant world-class expertise to the Polytechnic D) Miscellaneous Fund Conducting short and continuing education courses; - Self-financing Project Fund upgrading Polytechnic s teaching facilities; and providing welfare and social activities for the Polytechnic s students and staff.

Breakdown of the income and expenditure of the funds which are pooled under Other Funds in the Income and Expenditure Statement is as follows: Bursary and Staff Apartment Temasek Polytechnic Miscellaneous Total Scholarship Fund Fund Endowment Fund Fund 2001/02 2000/01 2001/02 2000/01 2001/02 2000/01 2001/02 2000/01 2001/02 2000/01 S$ 000 S$ 000 S$ 000 S$ 000 S$ 000 S$ 000 S$ 000 S$ 000 S$ 000 S$ 000 Operating Income Other Income - - 825 773 - - - - 825 773 Donations (3) 315 - - - - 14 4 11 319 Courses, projects, seminars & talks - - - - - - 8,360 5,772 8,360 5,772 (3) 315 825 773 - - 8,374 5,776 9,196 6,864 Less: Operating Expenditure Depreciation - - 10 12 - - 32 42 42 54 Miscellaneous 106 199 639 249 - - 120 191 865 639 Courses, projects, seminars & talks - - - - - - 5,778 3,832 5,778 3,832 106 199 649 261 - - 5,930 4,065 6,685 4,525 Operating (deficit) / surplus (109) 116 176 512 - - 2,444 1,711 2,511 2,339 Add: Non-operating Income Interest 1 3 - - 11 - - - 12 3 (DEFICIT) / SURPLUS FOR THE FINANCIAL YEAR (108) 119 176 512 11-2,444 1,711 2,523 2,342 ACCUMULATED SURPLUS AT 1 APRIL 390 271 2,061 1,549 - - 6,022 4,311 8,473 6,131 ACCUMULATED SURPLUS AT 31 MARCH 282 390 2,237 2,061 11-8,466 6,022 10,996 8,473 Represented by: Fixed Assets - - 19 28 - - 108 93 127 121 Course in progress - - - - - - 44 1,888 44 1,888 Cash and Bank Balances 282 390 2,231 2,057 6-9,965 8,930 12,484 11,377 Sundry Debtors and Deposits - - 1 1 5 - - 111 6 112 Deferred income for course in progress - - - - - - (1,431) (4,539) (1,431) (4,539) Sundry Creditors and Accruals - - (14) (25) - - (220) (461) (234) (486) 282 390 2,237 2,061 11-8,466 6,022 10,996 8,473 56 57 7. ACCUMULATED SURPLUS (continued)

8. TEMASEK POLYTECHNIC ENDOWMENT FUND Donations and contributions made to the Temasek Polytechnic Endowment Fund are retained as principal capital to be kept intact to earn income. Income and expenditure of the Fund are taken to Other Funds in the Income and Expenditure Statement (Note 7). The principal capital comprises the following: 2001/02 2000/01 S$ 000 S$ 000 Balance at 1 April - - Donations received 808 - Balance at 31 March 808 - Represented by: Cash and bank balances 3 - Fixed deposits 555 - Investment in bonds 250-808 - 9. DEFERRED CAPITAL GRANTS (GOVERNMENT) 2001/02 2000/01 S$ 000 S$ 000 Balance at 1 April 516,520 530,874 Add: Development grants utilised on fixed assets 21,675 21,098 Operating grants utilised on fixed assets (Note 6) 3,579 6,941 541,774 558,913 Less: Amortisation of deferred capital grants 40,923 42,393 Balance at 31 March 500,851 516,520 Capital grants received and utilised since establishment of the Polytechnic 760,462 735,208 10. DEFERRED CAPITAL GRANTS (OTHERS) 2001/02 2000/01 S$ 000 S$ 000 Balance at 1 April 2,884 2,892 Add: Grants utilised on fixed assets 2,092 1,065 Operating grants utilised on co-funded fixed assets (Note 6) 432 434 5,408 4,391 Less: Amortisation of deferred capital grants 1,369 1,507 Balance at 31 March 4,039 2,884 Capital grants received and utilised since establishment of the Polytechnic 11,712 9,188

58 59 11. STAFF AND STUDENT LOAN FUNDS A) STAFF LOAN FUND This fund, which comprises advances from Government, provides housing loans to staff. The housing loans are managed by a financial institution on behalf of the Polytechnic. B) TUITION FEE LOAN / STUDY LOAN FUNDS Tuition Fee Loan Fund, which comprises advances from Government, provides tuition fee loans to students. The tuition fee loans are administered by a financial institution. Study Loan Fund, which comprises advances from Government, provides loans to needy students. The income and expenditure of the above funds are taken to General Fund in the Income and Expenditure Statement. Staff Loan Tuition Fee Study Loan Total Fund Loan Fund Fund 2001/02 2000/01 2001/02 2000/01 2001/02 2000/01 2001/02 2000/01 S$ 000 S$ 000 S$ 000 S$ 000 S$ 000 S$ 000 S$ 000 S$ 000 Balance at 1 April 8,544 6,603 2,469 1,473 7 18 11,020 8,094 Amount received from Government - 1,941 1,273 996 - - 1,273 2,937 Amount refunded to Government (6,606) - - - - (11) (6,606) (11) Balance at 31 March 1,938 8,544 3,742 2,469 7 7 5,687 11,020 Represented by: Outstanding loans Staff loans 1,927 3,745 - - - - 1,927 3,745 Tuition fee loans - - 3,296 2,231 - - 3,296 2,231 Study loans - - - - 1 2 1 2 Bank balance 11 4,799 446 238 6 5 463 5,042 1,938 8,544 3,742 2,469 7 7 5,687 11,020 On 11 October 2001, the Ministry of Education issued a circular stating that with effect from FY 2002 / 03, all new staff housing loans should be obtained directly from financial institutions or from the Polytechnic itself instead of from the Government via Staff Loan Fund. Existing housing loans will continue to be borne by the Government until they are fully repaid. Repayment of these loans as well as unutilised funds would have to be returned to the Government. During the financial year, the Polytechnic refunded an amount of S$6.6 million to the Government.

Leasehold Land Building Building Furniture, Computer Workshop Vehicle Computer Plant & Total and Building Improvements Plant & Fittings & Hardware Equipment & Software Machinery Machinery Equipment Machinery S$ 000 S$ 000 S$ 000 S$ 000 S$ 000 S$ 000 S$ 000 S$ 000 S$ 000 S$ 000 2001/02 Net Book Value at 1 April 424,097 6,774 35,293 10,170 21,879 7,905 159 4,380 5,067 515,724 Addition 2,824 5,865 779 2,989 7,633 4,589-4,489 57 29,225 Disposals - (1) - (14) (6) (2) - (10) - (33) Depreciation (8,976) (2,889) (7,192) (3,650) (13,036) (3,036) (43) (2,810) (671) (42,303) Net Book Value at 31 March 417,945 9,749 28,880 9,495 16,470 9,456 116 6,049 4,453 502,613 Cost 471,655 16,340 70,829 51,811 67,066 27,011 277 20,056 6,580 731,625 Accumulated Depreciation (53,710) (6,591) (41,949) (42,316) (50,596) (17,555) (161) (14,007) (2,127) (229,012) Net Book Value at 31 March 417,945 9,749 28,880 9,495 16,470 9,456 116 6,049 4,453 502,613 2000/01 Net Book Value at 1 April 433,492 4,809 42,299 15,138 20,652 7,727 172 3,629 5,276 533,194 Additions - 3,533-2,751 13,861 3,294 35 3,268 407 27,149 Reclassification (653) - - - - - - - - (653) Disposals - (39) - (100) (13) (8) - (18) - (178) Depreciation (8,742) (1,529) (7,006) (7,619) (12,621) (3,108) (48) (2,499) (616) (43,788) Net Book Value at 31 March 424,097 6,774 35,293 10,170 21,879 7,905 159 4,380 5,067 515,724 Cost 468,831 10,481 70,050 50,486 64,206 22,634 277 16,024 6,524 709,513 Accumulated Depreciation (44,734) (3,707) (34,757) (40,316) (42,327) (14,729) (118) (11,644) (1,457) (193,789) Net Book Value at 31 March 424,097 6,774 35,293 10,170 21,879 7,905 159 4,380 5,067 515,724 12. FIXED ASSETS

60 61 13. CAPITAL WORK-IN-PROGRESS The work-in-progress relates to the costs incurred for the extension and improvement to the Tampines Campus. 2001/02 2000/01 S$ ' 000 S$ ' 000 Balance at 1 April 3,815 752 Add: Additions during the financial year 5,023 6,416 8,838 7,168 Less: Amount capitalised as assets 6,423 3,353 Balance at 31 March 2,415 3,815 14. LOANS TO STAFF & STUDENTS A) STAFF LOANS The staff loan fund provides housing loans to staff. Housing loans are repayable with interest at 5% per annum by monthly instalments over periods up to 30 years. B) TUITION FEE / STUDY LOANS Tuition fee loans are granted to students interest-free until 1st August in the year of their graduation. Thereafter, loans are repayable by monthly instalments with interest based on the average prime rates of the 4 local big banks or such other rate as may be determined by the Polytechnic. Study loans are granted to students interest-free. Such loans are repayable by monthly instalments within 2 years from the 7th month immediately following the month of the borrowers' graduation. 2001/02 2000/01 S$ ' 000 S$ ' 000 Due after 12 months Staff loans 1,784 3,528 Tuition fee loans 3,148 1,839 Study loans 0 2 4,932 5,369 Due within 12 months Staff loans 142 217 Tuition fee loans 148 392 Study loans 1 0 291 609 Staff loans and tuition fee/study loans are disbursed from advances from the Government and repayment of the loans will eventually be returned to Government. Accordingly, the carrying amounts of staff loans and tuition fee/study loans approximate their fair values.

15. INVESTMENT IN SUBSIDIARY Name of subsidiary: TP Innovation Holdings Pte Ltd Place and date of incorporation: Singapore, 16 October, 1996 Principal activities: to promote and commercialise the Polytechnic s research and development results, technology, design or business innovations. 2001/02 2000/01 Authorised capital (100,000 shares @ S$1 each) S$100,000 S$100,000 Issued capital (2 shares @ S$1 each) S$2 S$2 Percentage of equity held by the Polytechnic 100% 100% The subsidiary incurred accumulated losses of S$0.61 million as at 31 March 2002. Notwithstanding that the investment in subsidiary is only S$2, the Polytechnic has given an undertaking to provide continuing financial support to the subsidiary. Arising from this financial support commitment, the Polytechnic has recognised a provision of S$0.61 million for losses incurred by the subsidiary during the financial year. The results of the subsidiary have not been consolidated as they are considered to be not material to the Polytechnic s financial statements. 16. SUNDRY DEBTORS, DEPOSITS AND PREPAYMENT 2001/02 2000/01 S$ 000 S$ 000 Receivable from future government grants - 19,673 Deposits and prepayments 558 431 Sundry debtors 1,279 1,146 Provision for doubtful debts (14) (60) 1,823 21,190 Movements in provision for doubtful debts are as follows: Balance at 1 April 60 31 Provision made during the financial year 1 29 Bad debts written off against provision (47) - Balance at 31 March 14 60 The amount receivable from future Government grants in FY2000/01 relates to Goods & Services Tax ( GST ). In FY1999/2000, the Ministry of Finance ( MOF ) issued a circular stating that input GST on activities funded by Government grants was not allowable as credit and that statutory boards need to make retrospective refunds of the input GST previously claimed from the Inland Revenue Authority of Singapore ( IRAS ). In addition, the Polytechnic was also required to make retrospective payments on output GST which should have been charged on tuition grants. During the previous financial year, the Polytechnic, IRAS, MOF and Ministry of Education ( MOE ) have agreed on the determination of the GST amount to be refunded to IRAS. Based on computation of the GST amount to be refunded/payable using the prescribed formulae provided by IRAS, the Polytechnic arrived at a net GST payable of S$21.7 million (Note 19) for the period from FY1994/95 to FY2000/01.

62 63 16. SUNDRY DEBTORS, DEPOSITS AND PREPAYMENT (continued) Correspondingly, as at 31 March 2001, the Polytechnic recorded an amount receivable from future Government grants of S$19.7 million. During the current financial year, the Polytechnic received S$14.4 million from MOE and was also advised by MOE to utilise S$5.2 million from the Polytechnic s surplus fund which have not yet been appropriated to MOF to settle the outstanding GST with IRAS (Note 22). 17. INVESTMENT IN BONDS 2001/02 2000/01 S$ 000 S$ 000 Quoted bonds at cost 2,250 - Market value 2,282 - The bonds bear interest rates ranging from 3.22% to 4.17% per annum received semi-annually in arrears. 18. CASH AND CASH EQUIVALENTS 2001/02 2000/01 S$ 000 S$ 000 Cash and cash equivalents consist of: Fixed deposits with financial institutions 72,655 5,000 Cash and bank balances 13,170 98,279 85,825 103,279 The fixed deposits bear interest rates of 0.69% to 1.06% (2001: 2.7%) per annum as at the balance sheet date. 19. SUNDRY CREDITORS AND ACCRUALS 2001/02 2000/01 S$ 000 S$ 000 Sundry creditors 18,761 26,898 Accruals 4,235 4,345 Other grants received in advance 2,991 2,678 GST payable (Note 16) 1,735 21,672 27,722 55,593 20. CONTINGENT LIABILITY A subsidiary of the Polytechnic (Note 15) has received a sum of S$2 million being a repayable grant from a government agency and under the terms of the grant, this sum is recoverable from Temasek Polytechnic should there be any breach of the conditions under which the grant was approved.

21. COMMITMENTS A) Capital commitments Capital commitments approved by the Board but not provided for in the financial statements are as follows: 2001/02 2000/01 S$ 000 S$ 000 Amount approved and contracted for - 958 Amount approved but not contracted for 2,650 5,094 2,650 6,052 The capital commitments are funded from Government grants. B) Operating lease commitments The future minimum lease payments under non-cancellable operating leases are payable as follows: 2001/02 2000/01 S$ 000 S$ 000 Not later than one financial year 514 792 Later than one financial year but not later than five financial years 295 619 809 1,411 22. APPROPRIATION OF ACCUMULATED SURPLUS The Polytechnic has surplus funds in FY1998/99 and FY1999/2000 of S$14.6 million and S$6.1 million respectively. The amount of surpluses which are to be appropriated to Ministry of Finance ( MOF ) for FY1998/99 and FY1999/2000 have not been set aside as the actual amounts to be appropriated have not yet been confirmed by the Accountant General Department and MOF. During the financial year, based on instructions from MOE, the Polytechnic has utilised an amount of S$5.2 million from these unappropriated surplus funds for settlement of outstanding GST with IRAS as set out in Note 16. Based on the latest MOF s circular dated 4 December 2000, the Polytechnic will be allowed to retain all of its surplus from FY2000/01 onwards. 23. FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES Other than the fair values of staff loans and tuition fees/study loans and investment in bonds as detailed in Notes 14 and 17 respectively, the carrying amounts of the following financial assets and financial liabilities approximate to their fair values: cash and bank balances, fixed deposits, sundry debtors and creditors. 24. COMPARATIVE FIGURES Certain comparative figures have been reclassified, where appropriate, to conform to the changes in presentation in the current financial year. Where applicable, the comparatives have been adjusted or extended to take into account the requirements of the revised or new Singapore Statements of Accounting Standard which the Polytechnic implemented in FY 2001/02. 25. AUTHORISATION OF FINANCIAL STATEMENTS These financial statements were authorised for issue by the Board of Governors on 26 June 2002.

21 Tampines Avenue 1, Singapore 529757 Tel: (65) 6788 2000 Fax: (65) 6789 8220 www.tp.edu.sg