Published on : Monday, November 11, 2013
The furniture industry of Singapore has launched a three-year masterplan to increase business growth. Singapore accounted over 1 per cent or about S$5.74 billion of the global market share last year.
Singapore Furniture Industries Council (SFIC) aims to achieve that to 1.5 per cent by 2015. According to SFIC, the three-year plan encourages companies to “improve, innovate and integrate”. It believes that large supply of new homes that will be coming on stream in Singapore in the next few years could help to boost the furniture industry.
Ernie Koh, president of SFIC says that Asia is developing and as a result lot of projects coming up. The furniture industry should collaborate with these people to go into the regional market to co-exist with them, with regards to the development.
Serrano Holdings Pte Ltd was awarded with the Gold Furniture Manufacturer Award at this year’s Singapore Furniture Industry Awards. It has spent some S$2.5 million on new machinery to improve productivity and overcome the challenges of a tightening labour market.
Tags: "improve, business growth, furniture industry, innovate and integrate", Singapore Furniture Industries Council (SFIC), three-year plan encourages
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