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EMPOWERING POSSIBILITIES WITH MORE REASONS TO SMILE INFOCOMM MEDIA DEVELOPMENT AUTHORITY ANNUAL REPORT 2O17/18 1 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 EMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 INFOCOMM MEDIA DEVELOPMENT AUTHORITY ABOUT IMDA The Infocomm Media Development Authority (IMDA) leads Singapore’s digital transformation with infocomm media.
To do this, IMDA will develop a dynamic digital economy and a cohesive digital society, driven by an exceptional infocomm media (ICM) ecosystem – by developing talent, strengthening business capabilities, and enhancing Singapore’s ICM infrastructure.

IMDA also regulates the telecommunications and media sectors to safeguard consumer interests while fostering a pro-business environment, and enhances Singapore’s data protection regime through the Personal Data Protection Commission.
VISION A dynamic Digital Economy and a cohesive Digital Society, driven by an exceptional infocomm and media ecosystem.

MISSION Drive Singapore’s digital transformation with infocomm media.

VALUES • Integrity • Collaboration • Innovation • Care & Respect 02 2 FOREWORD IMDA’s inaugural annual report captures our achievements and milestones of the past year, and how it has worked to unify Singapore’s digitalisation efforts.
Whether it is providing help for different industries to jumpstart their digitalisation journeys, or creating new ecosystems, opportunities and capabilities for our digital future, IMDA is moving ahead with industries and people, to be a leading global node in Asia for this digital economy.
EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 CHAIRMAN’S MESSAGE MR CHAN YENG KIT CHAIRMAN, IMDA Permanent Secretary (Defence), Ministry of Defence Digitalising Singapore’s Business Ecosystem To remain relevant and lead in the Digital Economy, it is imperative for our businesses to digitalise.
One major effort to equip Singapore’s businesses for the digital future is the SMEs Go Digital Programme, which helps SMEs build stronger digital capabilities and readiness for the Digital Economy.

At IMDA’s inaugural SMEs Go Digital Industry Briefing in May 2017, we announced 50 pre- approved solutions that businesses can choose from to help them digitalise and ensure they remain relevant in the future economy.
Since then, we have also rolled out Industry Digital Plans (IDPs) for two major sectors, Logistics and Retail.

These will provide step-by-step advice on technologies SMEs can adopt.

We recognise some SMEs require more advanced assistance.
To help these SMEs, we launched the SME Digital Tech Hub, a facility that provides specific advice on areas including data analytics and cybersecurity – this is part of broader efforts to ensure that no SME is left behind in 3 5O pre-approved solutions that businesses can choose from to help them digitalise the move to Go Digital.

We encourage SMEs to make full use of these digital solutions in their digitalisation efforts, and will continue to work to further enhance the programmes.
IMDA also continued to be a key enabler for the industry, matching companies to the best platforms to thrive.

During the year in review, we signed individual Memoranda of Intent (MOI) with leading local banks DBS, OCBC and UOB, to provide accredited companies access to innovative projects.

This will help them build their track record in the banking sector, to secure even more projects in the future.
Creating Opportunities for More, Developing the Next Generation of Future-Ready People To further sharpen Singapore’s digital edge, IMDA launched the Industry Transformation Map (ITM) for the ICT and media sectors in October 2017.

The ITM outlines Singapore’s strategies for the Digital Economy, which is expected to grow.

In fact, the Infocomm Media (ICM) sector is expected to employ more than 210,000 members of our workforce, and create more than 13,000 new PMET jobs by 2020.
Nurturing digital talent in our community is a key element of being digitally ready.

The TechSkills Accelerator (TeSA) enhances the Information and Communications Technology (ICT) capabilities of our workforce, and more than 27,000 people have signed up for training.
27,OOO training places have already been taken up under the TeSA programme 21O,OOO members of our workforce to be employed by 2020 13,OOO new PMET jobs to be created by 2020 A truly Digital Economy has not only a digitalised business ecosystem, but digitally ready citizens as well.

In the past year, IMDA engaged Singaporeans of all ages.
We introduced more than 40,000 students and adults to Digital Maker technology, and more than 44,000 seniors have taken part in the Silver Infocomm Initiative (SII), which empowers Singaporeans older than 50 years to be actively involved in the digital age through IT awareness and literacy.

Supporting TeSA is the Skills Framework for ICT, which guides employers, employees and trainers in ICT skill mastery.
IMDA has also launched the TeSA Pilot Immersion Programme for mid-career PMETs aged 40 and older to help them re-skill and grow their careers.

Growing Our Media Presence A significant part of IMDA’s work focuses on growing Singapore’s media industry – strengthening our local talent and widening the reach of our local works.

The Singapore Media Festival (SMF) has made significant impact in this regard, garnering more than $1 billion in deals and partnerships in the past four years.
$1 billion in the past 4 editions of the Singapore Media Festival 4O,OOO students and adults introduced to Digital Maker technology 44,OOO seniors have taken part in the Silver Infocomm Initiative The fourth edition of the festival held last year also saw the introduction of the Country-of- Focus programme, a concerted spotlight on one Asian country to recognise its rich stories and to forge opportunities for collaboration between the two nations.
SMF 2017 featured Indonesia as the Country-of-Focus, in commemoration of 50 years of bilateral and diplomatic relations between Indonesia and Singapore.

EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 CHAIRMAN’S MESSAGE We have had a lot to celebrate – Singapore’s films have been making waves internationally and are bagging more awards abroad than ever before.
In the past year, Low Ser En brought home a BAFTA award for Best British Short Animation for her stop-motion short Poles Apart, and Kirsten Tan’s Pop Aye, Singapore’s entry in the 90th Academy Awards in the Foreign Language Film category, was selected for more than 30 international film festivals and won four awards, including the World Cinema Dramatic Special Jury Award for Screenwriting at the Sundance Film Festival.
At home, we are also committed to bringing quality content and productions to households, having supported a total of 5,477 hours of Public Service Broadcast programmes in the past year.

Toggle Original titles Trapped Minds and Soul Reapers were nominated at the 2017 Apollo Awards in the Best Cinematography (Long Form) and Motion Graphics for Short Form categories respectively, a true testament to what our local talent can achieve.
5,477 hours of Public Service Broadcast programmes supported in the past year With analogue TV transmissions switching off in December 2018, IMDA also expanded the Digital TV (DTV) Assistance Scheme.

Through the new DTV Starter Kit programme, more than 400,000 04 HDB households without pay-TV will be able to conveniently migrate to DTV, to continue to enjoy their favourite Mediacorp programmes.
4OO,OOO migrating to DTV with the help of the DTV Starter Kit Fostering an Environment for Tomorrow’s Digital Businesses Future-ready policies and infrastructure are vital for a Digital Economy.

This is why IMDA constantly works to ensure we create the right regulatory environment to support a vibrant, innovative and competitive infocomm and media industry.

During the year, we reviewed the Personal Data Protection Act (PDPA) and the Films Act (FA) to stay relevant and meet stakeholders’ needs.
The strong foundation of our Digital Economy is built on robust digital infrastructure.

We continue to strengthen this, deploying even more Wireless@SG hotspots – 18,000 to date – to allow Singaporeans to be digitally connected virtually anywhere on the island.

Wireless@SG took on a new design and was enhanced to offer users a simpler log-in experience.

IMDA also welcomed the addition of a fifth operator, MyRepublic, to help expand the Wireless@SG network.
These results have only been possible with the hard work of each and every member of the IMDA family.

Thus, I would like to take this opportunity to extend my appreciation to the members of the IMDA Board, industry partners, and all our staff for their efforts.

Singapore’s journey of digital transformation has never been more exciting.

I am confident that with a strong digital core and robust infrastructure, Singapore is truly poised to lead the global Digital Economy.
I look forward to an even more exciting year ahead, and to scaling greater heights with everyone.

“Singapore’s journey of digital transformation has never been more exciting.
I am confident that with a strong digital core infrastructure, and Singapore truly poised to lead the global Digital Economy.“ robust is 18,OOO Wireless@SG hotspots to date Mr Chan Yeng Kit Chairman, IMDA Permanent Secretary (Defence), Ministry of Defence EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 BOARD OF DIRECTORS Mr Chan Yeng Kit Chairman, IMDA Permanent Secretary (Defence) Ministry of Defence Mr Caesar Sengupta Vice President Product Management Google Mr Chey Chor Wai Former Assurance Partner Pricewaterhouse Coopers LLP Mr Chng Kai Fong Principal Private Secretary to Prime Minister Prime Minister’s Office (Served till Sept 2017) Mr Colin Sampson Director Coli$on Ventures Pte Ltd Ms Jacqueline Poh Chief Executive Officer Government Technology Agency (Served till May 2018) Ms Janet Ang Vice President Industry Solutions Systems of Engagement & Smarter Cities, IBM Asia Pacific Ms Janet Young Managing Director and Head Group Channels & Digitalization United Overseas Bank Group Mr Jeffrey Siow Chen Siang Principal Private Secretary to Prime Minister Prime Minister’s Office (Joined in Sept 2017) 05 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 BOARD OF DIRECTORS Dr Lily Chan Chief Executive Officer NUS Enterprise National
 University of Singapore Mr Ong Peng Tsin Managing Director Monk’s Hill Ventures Mr Robert Gilby Former Managing Director The Walt Disney Company (Southeast Asia) Mr Ryan Lim Principal Consultant and Founding Partner QED Consulting Pte Ltd Mr Saw Ken Wye Chief Executive Officer CrimsonLogic Pte Ltd Ms Shirley Wong Managing Partner TNF Ventures Pte Ltd Mr Tan Kiat How Chief Executive Officer Infocomm Media Development Authority Ms Thien Kwee Eng Assistant Managing Director Cluster Group Consumer, Planning and
 Research & Statistics Unit Economic Development Board Singapore Mr Vivek Kumar Assistant Director-General National Trades Union Congress Mr Zahidi bin Abdul Rahman Principal Architect Zahidi A.R Arkitek 06 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 SENIOR MANAGEMENT Mr Tan Kiat How Chief Executive Officer, IMDA Commissioner Personal Data Protection Commission Mr Leong Keng Thai Deputy Chief Executive International & Corporate Ms Aileen Chia Deputy Chief Executive Policy, Regulations & Competition Development Director-General Telecoms & Post Ms Angeline Poh Assistant Chief Executive Industry Development Ms Jane Lim Assistant Chief Executive Sectoral Transformation (Joined June 2018) Mr Yeong Zee Kin Assistant Chief Executive Data Innovation and Protection Deputy Commissioner Personal Data Protection Commission Mr Philip Heah Senior Director Technology & Infrastructure Ms Koh Li-Na Senior Director Planning 07 Org chart as of June 2018 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 IMDA SUBSIDIARY Singapore Network Information Centre (SGNIC) Pte Ltd BOARD MEMBER BOARD MEMBER MANAGEMENT Ms Aileen Chia Deputy Chief Executive Policy, Regulation and Competition Development (IMDA)
 Director-General Telecoms & Post (IMDA) Mr Leong Keng Thai Chairman Deputy Chief Executive International & Corporate (IMDA) Mr Queh Ser Pheng General Manager Ms Ong Seok Leng Senior Director Ms Liew Woon Yin Director GovTech Singapore Abundanti The Singapore Network Information Centre (SGNIC), a wholly-owned subsidiary of IMDA, was established in October 1995.
SGNIC operates independently and its main role is to administer the Internet domain name space in Singapore.

Today, SGNIC is the appointed national registry responsible for authorising and regulating the registration, administration and management of domain name ending with the .SG Country Code Top Level Domain (ccTLD).
SGNIC also collaborates with the international, regional and local Internet communities to ensure a stabilised and efficient operation of the “.sg” domain name space in support of applications provided over the Internet.
08 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 IMDA ADVISORY COMMITTEES Arts Consultative Panel (ACP) Mrs Laura Hwang Cheng Lin Chairperson Managing Director Memories of the East Pte Ltd Mr Albert Lee K H Vice-Chairperson Executive Director Principal Consultant QCOM BizSolutions Pte Ltd MEMBERS Dr Adele Tan Curator National Gallery Singapore Mr Adrian Tan Music Director Singapore Wind Symphony Mr Ahmad Musta’ain Bin Khamis Secretary Singapore Drama Educators Association Mrs Chong Yuan Chien Writer Mrs Chou Yu Kuei Editorial / Account Assistant Singapore Buddhist Federation Ms Christina Chan Dancer / Choreographer Ms Chua Ai Qi Ministry of Defence Ms Amatul Jameel Suhani Sujari Education Officer Mr David Yap Guan Kwee Analyst / Photographer Ms Amy Tan Chief Trainer & Director The Pink Pencil Mr Andrew Yap Business Consultant Ms Annabelle Teo Manager Ministry of Education Dr Elmie Nekmat Assistant Professor (Communications and New Media) National University of Singapore Mr Eric Watson Composer Ms Esther Thien Head of Publishing & Public Affairs Kong Meng San Phor Kark See Monastery Ms Fajaria Binte Muhammed Fajari Homemaker Mr John Leeh Voice Coach Mdm Kartini Binte Anwar Lecturer (Asian Languages and Cultures) National Institute of Education Mdm Khoo Ming Fern Schools Division Ministry of Education Mdm Leau Wan Hwee Education Officer Mr Lee Ngee Chew Project Manager
 NCS Pte Ltd Ms Lela d/o Ponnusamy Business Development Manager 9 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 IMDA ADVISORY COMMITTEES Arts Consultative Panel (ACP) MEMBERS Mr Leong Kai Chong Simon Senior Vice President (Corporate Services) Singapore Turf Club Ms Ng Wei Chin Director (Arts & Community Media) The Very Quiet Studio Ms Suree Rohan Principal Rohan ∙
 Mah & Partners LLP Dr Margaret Chan Practice Assosciate Professor (Theatre and Performance Studies) School of Social Sciences Singapore Management University Mr Maurice Alphonso Scientist Plexchem Technologies Pte Ltd Ms Mona Lim Music / Performing Arts Educator Hillside World Academy Ms Pushpalatha Devi Naidu Associate II NL Heritage Mr Tan Boon Beng Teacher (Music) Hwa Chong Institution Mr Robert Liew Director Arts Management Associates Mr Sebastian Yang Manager (Personnel Planning & Development) Cluster C Staff Development Singapore Prison Service Mdm Pauline Sim Deputy Director Policy Research Branch Mr Tan Choon Hiong Director (Regional Development) Raffles Medical Group Ltd Mr Tan Khye Suan Executive Director MCYC Community Services Society Mr Tang Yee Kit Samuel Managing Director CTVision System (S) Pte Ltd Mr Teo Poh Aun Self-Employed Ms Thong Pei Qin Freelance / Theatre Director Mdm Vijaya Nadesan Managing Director D’vine Creationz 10 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 IMDA ADVISORY COMMITTEES Films Consultative Panel (FCP) Ms Cheryl Ng Chairperson Director Great Expectations Communications Laboratory Associate Lecturer Ngee Ann Polytechnic Principal Trainer (Part-time) Focus on the Family Singapore Dr Syed Harun Bin Taha Alhabsyi 1st Vice-Chairperson SAF Medical Officer Ministry of Defence Psychiatry
 Resident National Healthcare Group Mr Marcus Phuah 2nd Vice-Chairperson Lawyer and Founder Marcus Phuah & Co. 11 MEMBERS Mr Adrian Kwong Managing Director Consigclear LLC Mr Adrian Quek General Manager Active Quotient International Mr Albert Tan Manager Academy of Lifelong Learning and Skills Nanyang Polytechnic Ms Bashirah Mohammed Salleh Senior Research Executive Strategy Branch Ministry of Social & Family Development Mr David Alexander Ong Liang Bong, PBM Volunteer The Methodist Church in Singapore Ms
 Carrie Seow Retiree Mr Cell Lim Siew Wee Head of Department Development and Communications The Theatre Practice Ltd Ms Alyssa Rae Tan Yan Pei Manager National Heritage Board Mr Chan Joo Jin Engineer CPG Consultant Pte Ltd Dr Angeline Khoo Retiree Ms Angie Chew Executive Director Brahm Centre Ltd Ms Anna Leong Yuet Kheng Homemaker Ms Amy Tan Wei Leng Managing Director The Pink Pencil Director Project Orbis International Inc. Ms Chin Kim Fah Part-time Teacher and Translator Dr Christine Yap Consultant Obstetrician and Gynaecologist Women’s Health and Fertility Centre Ms Chua Ai Liang Senior Director Engagement and Participation National Arts Council Dr Damien Dominic Cheong Eng Hoe Research Fellow Centre of Excellence for National Security S. Rajaratnam School of International Studies Nanyang Technological University Mr Devdatt Nerurkar Director Omniwish Ms Dionis Chiua Director Lean Bento Pte Ltd Mr Edward D’Silva Senior Advisor SAA Architects Pte Ltd Mr Edward Ong Keng Wan Managing Director V.C.
Edwardt Pte Ltd Mr Elamaaran Balakrishnan Director Training and Operations Outward Bound Singapore c/o National Youth Council Ms Erliana Zaid Content Marketing Manager Singapore Tourism Board Mr Fabian Foo Communications Executive National Healthcare Group EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 IMDA ADVISORY COMMITTEES Films Consultative Panel (FCP) Mr Jason Pang Jiahao Supply Planner Procter & Gamble Mr Keith Tong Zi Cong Marketing Manager Super Coffee Corporation Pte Ltd Mr Lee Eng Yit Ryan Student Singapore Media Academy Ms Jayasutha Samuthiran Assistant Innovation Manager Scotch Centre of Excellence Diageo Singapore Dr Jiow Hee Jhee Assistant Professor Singapore Institute of Technology Mr Jordan Woo Chi Yong Director J3 International Pte Ltd Ms Khoo Sim Eng Head of Film Studies Minor Singapore University of Social Sciences Dr Koh Wei Chern Senior Lecturer Singapore Institute of Management University Ms Lau Lee Hua Chartered Accountant Singapore Lau Lee Hua & Co Dr Lau Xinyin Elizabeth Senior Clinical Psychologist Ministry of Social and Family Development Mr Lee Chee Tian Producer / Screenwriter The Big Shots Ms Lee Lee Hong @ Lee Phyllis Manager National University Health System Planning Office Mr Lim Jue Hao Isaac Freelance Writer and Actor Ms Lim May San, Medha Manager Government Comms Government Technology Agency Mr Lim Tat Kuan General Counsel Jurong
 Port Pte Ltd Ms Lim Xiu Ling Officer Communications Division Ministry of Education MEMBERS Ms Fion Leong Jia Le Digital Marketing Associate Ms Harini V Undergraduate Yale-NUS College Ms Helen Hong Teaching Fellow Office of Education Research National Institute of Education Mr Herald Bangras Senior Specialist Skills Development Division SkillsFuture Singapore Mr Izuan Bin Mohamed Rais Mosque Executive Chairman Majlis Ugama Islam Singapura Dr Jasbir Singh Director President’s Office Nanyang Technological
 University Ms June Kong Archivist Records Management National Archives of Singapore Mr Kan Rong Han Audio Engineer Ministry of Education 12 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 IMDA ADVISORY COMMITTEES Films Consultative Panel (FCP) Ms Mona Lim Specialist Teacher Music Hillside World Academy Ms Nadia Yeo Graduate Student and Teaching Assistant Lee Kuan Yew School of Public Policy Adjunct Lecturer LASALLE College of the Arts Ms Ng Geok Lan Director and Principal Trainer Lifeskillz and Bridging Minds Mr Seah Seng Chye Teacher Ministry of Education Mr Seah Thian Pau Director Office of Campus Security National University of Singapore Ms Siti Nooraishah Sahud Self-employed Ms Susheel Kaur Instructor Department of Psychology National University of Singapore Ms Suziwati Binte Saad Assistant General Manager Ministry of Social and Family Development Mr Tan Cher Chong Master Teacher Academy of Singapore Teachers Ministry of Education Mr Tan Chuen Siang Erwin Managing Editor Red Periscope Prof Tan Hun Tong Director Centre for Accounting & Auditing Research Nanyang Technological University Mr Tan Kar Wee Assistant Director Design Branch (Communications Division, Communications and Engagement Group) Ministry of Education Mr Tang Liheng Public Service Division Mr Toh Weng Cheong Partner / Lawyer Low Yeap Toh & Goon Ms
 Vivian Lim Director AX Sports Pte Ltd Mr Wu Wai Tuck School Staff Developer Yangzheng Primary Ministry of Education Ms Yap Foon Lyn Vice-Principal Zhangde Primary School MEMBERS Mr Lionel Wong Kok Mun Lecturer School of Technology for the Arts Republic Polytechnic Consultant / Director Linburger & Wolfe Mr Lin Zongxing Associate Hogan Lovells Lee & Lee Mr Michael Kam Leong Huat Senior Lecturer Manager (Partnerships & Projects) School of Film & Media Studies Ngee Ann Polytechnic Mr Mohd Alias Bin Ali Production
 Manager The Film Equipment Gallery Private Limited Mr Mohammad Azree Bin Rahim Deputy Director Educational Policy & Systems Majlis Ugama Islam Singapura Mr Md Rushdy Hakam Bin Md Yunos Project Consultant Adelphi Digital Consulting Group Pte Ltd 13 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 IMDA ADVISORY COMMITTEES Political Films Consultative Committee (PFCC) Mr Richard Magnus Chairperson Senior District Judge (Retired) Chairman (Public Transport Council, Retired) MEMBERS Mr Chua Chim Kang Managing Editor Chinese Media Group Singapore Press Holdings Ltd Mr Daniel Yun Founder & Director Blue3 Pictures Mr Ma Wei Chang Advisor Amalgated Union of Public Employees Mr M M Rajaram Senior Director Straits Law Practice LLC Dr Norshahril Saat Research Officer Institute of Southeast Asian Studies Dr Suzaina Kadir Associate Dean Admissions & Student Affairs Senior Lecturer Lee Kuan Yew School of Public Policy 14 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 IMDA ADVISORY COMMITTEES Publications Consultative Panel (PCP) Mrs Triena Ong Chairperson Director Etymology International Book Publishing & Editorial Services Dr Chitra Sankaran Vice-Chairperson Associate Professor Literature
 National University of Singapore MEMBERS Mr Aaron Ng Instructor Communications & New Media National University of Singapore Dr Angeline Khoo Retired Associate Professor National Technological University Ms Aurelia Tan Director / Educator Harvest Edutainment Pte Ltd Mr Benson Huang Senior Assistant Director National Security Coordination Secretariat Prime Minister’s Office Mdm Christina Low Postgraduate Student National Technological University Ms Dierdre Morgan Lawyer Associate Drew & Napier LLC Mr Ee Kim Lock
 Senior Librarian Selector National Library Board Dr Geraldine Teo Group Professional Practices Officer NTUC First Campus Centre Director The Caterpillar’s Cove Child Development and Study Centre Dr Gilbert Yeoh Senior Lecturer English Language & Literature National University of Singapore Mr Jackie Goh CEO Eclub Pte Ltd Dr Jenny Quek Systems Analyst Zenisys Pte Ltd Mr Joel Aik Head North East Regional Office National Environment Agency Dr Kevin Co Dental Surgeon & Clinical Director TLC Dental Centre 15 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 IMDA ADVISORY COMMITTEES Publications Consultative Panel (PCP) MEMBERS Mr Khong Wei Hoong Multimedia Designer Institute of Molecular and Cell Biology A*STAR Ms Liang Huiyu Founder and Educator Dandelion Books Ms Lee Kuan Fung Managing Director Luminaries Holdings Pte Ltd Ms Lim Si Qi Sales Coordinator Certis CISCO Security Ms Michelle Ang Editor and Social Media Community Manager New Age Consulting Pte Ltd Ms Nurul Ramli Education Officer Ministry of Education Mr Muhammad Shamir Founder & CEO VersaFleet Pte Ltd Mr Nadiputra Almahdi Managing Director and Creative Director Nadivision Sri Mamanda Bangsawan Pte Ltd Mr N K Rajarh Director Straits Law Practice LLC Mr Pua Luck Kheng Manager Kong Meng San Phor Kark See Monastery Mr Sean Kong Chief Training Officer Halogen Foundation
 Singapore Ms Serene Pan Commercial Director Envocycle Pte Ltd Ms Siti Mastura Cabin Crew Singapore Airlines Mr Wilson Sim Manager Communications Group Prime Minister’s Office Ms Zaleha Ahmad Centre Director Marriage Hub, Social Services Division Association of Muslim Professionals 16 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 IMDA ADVISORY COMMITTEES Programme
 Advisory Committee for English Programmes (PACE) MEMBERS Mr Alex Tan Chee Wei Technology Architect Accenture Mr Henry Baey Group Managing Director American International Industries Pte Ltd Mr Robin Lim Siang Hock CEO CST Planners Pte Ltd Mr Ang Nam Choon Deputy Director Budget Planning & Control Ministry of Home Affairs Ms Angelina Fernandez Group Director Corporate Communications A*STAR Mr Chan Jianhong Social Worker AMKFSC Community Services Ltd Ms Chia Wai Chun Judy Media Freelancer Ms Lee Huei Chern Senior Director Strategic Communications & Insights Sport Singapore Dr Faisal Bin Abdul Aziz Dental Surgeon FDC Dental Group Mr Gerald Chew General Counsel Law & Corporate Affairs Delfi Limited Mr Johnny Ang Director Project Management, Mobile Services Wirecard Asia Holdings Pte Ltd Mr Kevin Martens Wong Zhi Qiang General Education Officer Ministry of Education Ms Sharon Ismail Senior Lecturer & Course Chair Mass Communication School of Film and Media Studies Ngee Ann Polytechnic Assoc Prof Shirley Ho Associate Professor & Assistant Chair (Faculty) Wee Kim Wee School of Communication and Information Nanyang Technological University Ms Lee Ke Ning Owner Optimax Office Supplies Ms Lisa Teh Marketing Specialist Heaven’s Gift Pte Ltd Mrs Sita Singh Principal Naval Base Primary School Mr Suhaimi Bin Rafdi Director Our Tampines Hub Mr Muhd Fuadi Bin Rahmat Lecturer Management Development Institute of Singapore Ms Tan Soo Yean Senior Lecturer & Head of Sociology
 Programme School of Arts and Social Sciences Singapore University of Social Sciences Ms Nazlene Zainal Lecturer Communications & Media Management School of Business Temasek Polytechnic Ms Toh Yi Shan Engineer Housing & Development Board Mr Raymond Lye Chairperson Managing Partner Union Law LLP Dr Gan Su-Lin Vice-Chairperson Consultant Communications and Engagement Group Ministry of Health 17 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT
 AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 IMDA ADVISORY COMMITTEES Advisory Committee for Chinese Programmes (ACCESS) Assoc Prof Lee Cheuk Yin Director Wan Boo Sow Research Centre for Chinese Culture National University of Singapore Assoc Prof Foo Tee Tuan Vice-Chairperson Associate Professor Director SUSS Centre for Chinese Studies Mr Marcus Phuah Kok Liang Vice-Chairperson Lawyer Marcus Phuah & Co. MEMBERS Ms Adelina Koh Kui Hong Financial Consultant Finexis Advisory Mr Chia Tzong Hong Manager Central Provident Fund Board Ms Chow Yee Harn Freelance Translator and Editor Mr Choy Long Kai Freelance Lecturer Ms Foo Si Hui Network Engineer SingTel Pte Ltd Mr Gui Kai Chong Instructor Department of Communications and New Media Faculty of Arts and Social Sciences National University of Singapore Ms Ser Siew Yien Diana Business owner & media personality Ms Serene Loo Communications Advisor Shell Singapore Mr Soh Wei Zhong Alan Executive Brunel International South East Asia Pte Ltd Mr Tay Tze Siong Area Manager Retail Distribution Singapore Pools Pte Ltd Ms Wong Pei Wen Lecturer Nanyang Technological University Mdm Heng Boey Hong Director Mother Tongue Languages Branch Ministry of Education Ms Hon Huei Min Senior Marcom Manager Aerospace & Defence Group Experia Events Pte Ltd Ms Huang Xiaojing Assistant Manager Student Education and Development Chinese Development Assistance Council Dr Liew Kai Khiun Lecturer Nanyang Technological University
 Mr Ray Ng Course Chair, Chinese Media & Communication School of Humanities & Social Sciences Ngee Ann Polytechnic Ms Samantha Loh Seow May Deputy Director (Institute of Governance and Policy) Civil Service College 18 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 IMDA ADVISORY COMMITTEES Malay Programmes Advisory Committee (MPAC) MEMBERS Mr Abdul Harris Bin
 Sumardi Principal Westwood Secondary School Dr Mohamed Elmie Bin Nekmat Assistant Professor Communications and New Media National University of Singapore Ms Noorul Raaha As’art Educator / Part-time Tutor Department of History National University of Singapore Dr Bibi Jan Mohd Ayyub School Counsellor Gan Eng Seng Secondary School Mr Muhd Fuadi Bin Rahmat Lecturer Management Development Institute of Singapore Ms Fuziah Binte Muhamad Taha,PBM Associate Pre-School Education Education Services Division Ministry of Education Ms Harasha Bafana Director Adam & Hawa Network Mr Mohammad Hisham Bin Hambari Deputy Director & Head Media Relations Nanyang Technological University Mr Mohamed Hairianto Mohamed Diman Journalist Berita Harian Singapore Press Holdings Ltd Mr Mohammed Shabirin Bin Ariffin Vice President & Head Strategic Marketing and Communications Network for Electronic Transfer(s) Pte Ltd Ms Khartini Binte Abdul Khalid Senior Lecturer School of Interdiscipinary Studies Ngee Ann Polytechnic Mr Muhd Omar Bin Sharif Senior Police Officer Singapore Police Force Dr Norshahril Saat Researcher ISEAS-Yusof Ishak Institute Mdm Norshima Abdul Aziz Deputy Director Corporate Communications Department Yayasan MENDAKI Mdm Nur Hidayah Abu Bakar Dean Faculty of Design LASALLE College of the Arts Mr Sallim Bin Abdul Kadir, PBM, JP Director Human Resource AFL Technologies Pte Ltd Ms Zarina Yusof Associate Director Programmes Temasek Foundation Cares CLG Limited Dr Suzaina Kadir
 Chairperson Vice Dean Academic Affairs Lee Kuan Yew School of Public Policy National University of Singapore 19 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 IMDA ADVISORY COMMITTEES Indian Programmes Advisory Committee (IPAC) MEMBERS Mr Anbarasu s/o Rajendran Deputy CEO Singapore Indian Development Association (SINDA) Ms Jayasutha Samuthiran Assistant Innovation Manager
 Global Innovation (Scotch) Diageo Mr Krishna Sadashiv Partner Ernst & Young LLP Mr Krishnan Aravinthan (@Mohd Shafiq Bin Abdullah) Principal Spectra Secondary School Ms M Premikha Undergraduate Faculty of Medicine National University of Singapore Mr R Yokanathan Senior Lecturer & Course Chair School of Film & Media Studies Ngee Ann Polytechnic Mr Raja Mohamad Bin Maiden Managing Director Five Pillars Pte Ltd Ms Sabanitha Shanmugasundram Freelance Arts Practitioner & Media Consultant Mr Vadivalagan s/o PV Shanmuga Sundaram Deputy Public Prosecutor Attorney General’s Chambers Ms Vanita d/o Kaneson Senior Court Counsellor Community Justice and Tribunals Division State Courts Ms Vidhya Nair Head Global Indian Foundation Culture Centre Mrs Sarojini Padmanathan Director Professional Board Administration & Cell Therapy Facility Health Sciences Authority Ms Seyed Nazhath Faheema Head of Marketing Millenia Motion Pictures Pte Ltd Ms Thaiyalnayahi Masilamani Head of Public Relations Hyundai Engineering & Construction Co., Ltd Mr Thiruthakka Devan Defence Consultant ABGK Consulting Pte Ltd Mr Pravin Prakash Associate Research Fellow Centre of Excellence for National Security S.Rajaratnam School of International Relations Ms Sivakami Chinniah Project Manager Ministry of Social and Family Development Mr Vikram Nair Chairperson MP for Sembawang GRC Partner Rajah & Tann Singapore LLP Mr Ravindran Nagalingam Vice-Chairperson Chief Operating Officer Singapore Indian Development
 Association 20 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 IMDA ADVISORY COMMITTEES Broadcast, Publications & Arts Appeal Committee (BPAAC) MEMBERS Mr Choo Tiam Siew Chairperson Chief Executive Officer International Chinese Culture Exchange Federation (ICCEF) Mr Albert Tan Assistant Manager School of Engineering Nanyang Polytechnic Mrs Belinda Charles
 Vice-Chairperson Academy Dean Academy of Principals (Singapore) Dr Hadijah Bte Rahmat Vice-Chairperson Deputy Head Asian Languages & Cultures National Institute of Education Nanyang Technological University Ms Annette Chong Homemaker Mr Bala Reddy District Judge Civil Justice Division State Courts Dr Carol Balhetchet Clinical Psychologist & Hypnotherapist Dr Carol & Associates Mr David Wong Cheong Fook Chairman Ascendas Funds Management (S) Ltd Mr Jim Lim Teck Hwee Director and Principal Trainer REAL Academy Mr Liew Chin Choy Manager Frontier Danceland Ltd Mr Ong Sin Tiong Principal Industrial Relationship Officer National Trades Union Congress Ms Sabrina Goh Consultant Creating-me Consulting Pte Ltd Mdm Som Bte Mohamed Said PBM Founder / Artistic Director Sri Warisan Som Said Performing Arts Prof Tan Hun Tong University Professor and Director Centre for Accounting & Auditing Research National Technological University Ms Tan Seow Peer Lawyer Lee Bon Leong & Co Mr Tan Yap Kin Superintendent South 1 (Schools Division) Ministry of Education Mdm Tan Yok Ching Ruby Principal Jurong Secondary School Mr Venka Purushothaman Vice President (Academic) & Provost Faculty of Performing Arts LASALLE College of the Arts 21 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 IMDA ADVISORY COMMITTEES Films Appeal Committee (FAC) Mr Tan Boon Huat
 Chairperson Singapore Administrative Service (Retired) Mrs Joni Ong Vice-Chairperson Managing Director Great Place to Work® Institute Managing Director ThYnk Consulting Group MEMBERS Ms Ang Bee Lian Director (Social Welfare) Ministry of Social and Family Development Mr Manogaran s/o Suppiah Principal Serangoon Junior College Mr Chandra Mohan s/o K Nair Advocate & Solicitor Tan Rajah & Cheah Dr Mohamad Shamsuri Juhari Associate Lecturer UniSIM Ms Esther Thien Publishing Manager Kong Meng San Phor Kark See
 Monastery Assoc Prof Lee Cheuk Yin Associate Professor & Director (Wan Boo Sow Research Centre for Chinese Culture) National University of Singapore Mr Lim Huan Chiang Executive Director/ CEO Xpress Holdings Ltd Principal AiU – Irsyad International School Mr Mark Kwan Head Writer Freeflow Productions Pte Ltd Mrs Ong Hong Peng Principal Xinmin Secondary School Ms Samantha Loh Deputy Director & Senior Learning and Development Specialist (Institute of Governance and Policy) Civil Service College Mdm Siti Haslinda Putri Harun Director The Kids Dentist Mr Raymond Lye Hoong Yip Managing Partner Union Law LLP Prof Walter Woon Cheong Ming David Marshall Professor of Law (Faculty of Law) National University of Singapore Dean Singapore Institute of Legal Education 22 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 IMDA ADVISORY COMMITTEES Data Protection Advisory Committee (DPAC) MEMBERS Associate Professor Low Cheng Ooi Chief Medical Informatics Officer Ministry of Health and MOH Holdings Mr Hui Choon Kuen Deputy Chief Counsel Advisory (Civil Division) Attorney General’s Chamber and Dean, AGC Academy Mr Kurt Wee President Association of Small and Medium Enterprises (ASME) Mr Lam Chee Kin Managing Director, Head Group Legal (Compliance & Secretariat) DBS Bank Ltd Mr Lim Biow Chuan President Consumers Association of Singapore (CASE)
 Mr Lim Chin Hu Managing Partner Stream Global Pte Ltd Professor Steven Miller Vice Provost (Research) Singapore Management University Mr Mohamed Nasser Ismail Senior Vice President, Head of Equity Capital Market (SMEs) Head of Capital Market Development Singapore Stock Exchange Mr Lu Cheng Yang Secretary General Designate Singapore Chinese Chamber of Commerce & Industry Mr Wong Hong Kai Director (Policy and Governance) Smart Nation and Digital Government Office Mr Teo Chin Hock Deputy Chief Executive Cyber
 Security Agency Ms Tina Hung Deputy Chief Executive Officer National Council of Social Service Professor Simon Chesterman Dean (Faculty of Law) National University of Singapore Mr Leong Keng Thai Executive Chairman Deputy Chief Executive Infocomm Media Development Authority 23 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 IMDA ADVISORY COMMITTEES IT Standards Committee (ITSC) Mr Yap Chee Yuen Chairperson Executive Vice President (Resort Shared Services) Resorts World at Sentosa Mr Chak Kong Soon Vice-Chairperson Managing Partner Stream Global MEMBERS Mr Lim Soon Chia Director (Technology) Cyber Security Agency Mr Victor Tan Hein Kiat Acting Head, Capability Development (Data Centre) Information Infrastructure Programme Centre DSTA Mr Chau Chee Chiang Director (Policies and Standards) GovTech Ms Samantha Fok Director (ICT Industry Development & Internationalisation) Infocomm Media Development Authority Mr Harish Pillay Head (Community Architecture & Leadership) Red Hat Asia Pacific Mr Zeck Lim Former Director (Technology Solutions) Infocomm Media Development Authority Mr Tan Boon Yuen Senior Lecturer SP, School of Digital Media and Infocomm Technology Mr Huang Zhiyong Associate Professor National University of Singapore, School of Computing Mr Cheong Tak Leong Director (Standards) Enterprise Singapore Mr Kelvin Ng Deputy
 Director (Systems & Network) NYP, School of Infocomm Technology Mr Wong Wai Meng Chief Executive Officer Keppel Data Centres Mr Benjamin Gan Kok Siew Associate Professor SMU, School of Information Systems Mr Victor Tong Joo Chuan Former Deputy Director (Social & Cognitive Computing) A*STAR Mr Kendrick Lee Deputy Director (Government Digital Services Product Management) GovTech 24 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT
 AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 IMDA ADVISORY COMMITTEES Media Literacy Council (MLC) Mr Lock Wai Han Chairperson CEO OKH Global Ltd Prof Ang Peng Hwa Vice-Chairperson Director Wee Kim Wee School of Communication and Information Nanyang Technological University MEMBERS Mr Alvin Tan Head of Public Policy Policy and Government Affairs, Southeast Asia Facebook Ms Aileen Tan Group Chief Human Resources Officer Singapore Telecommunications Limited Mr Andrew Lim Superintendent West 7, Schools Branch West Ministry of Education Ms Anita Kuan Deputy Principal Temasek Polytechnic Dr Carol Soon Senior Research Fellow Institute of Policy Studies National University of Singapore Ms Christine Lee Principal Yangzheng Primary School Mr Chong Ee Jay Manager TOUCH Cyber Wellness TOUCH Family Services Dr Damien D. Cheong Research Fellow S. Rajaratnam School of International Studies Nanyang Technological University Mr Edmund Tay Parent blogger / Pastor EDunloaded.com Ms Gam Huey Yi Director Student Education and Development and Corporate Communications Chinese Development Assistance Council Mr Goh Lih Shiun Country Lead Policy and Government Affairs, Southeast Asia Google Ms Irene Ang CEO Fly Entertainment Ms Iris Lin Assistant Director Youth Division Fei Yue Community Services Mr Jeff Cheong President Tribal Worldwide Asia Mr Jeffrey Mohammed Ali Senior Director Youth Marketing and Insights Mediacorp Pte Ltd 25 EMPOWERING POSSIBILITES WITH A
 SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 Ms Susan Ng Producer-presenter 938NOW Mediacorp Pte Ltd Mrs Tan Wan Yu Principal Millennia Institute Mr Tong Yee Co-founder / Director The Thought Collective Mr Walter Lim Director / Editor Cooler Insights Mdm Zulaiha Bte Yusuf COO Yayasan MENDAKI IMDA ADVISORY COMMITTEES Media Literacy Council (MLC) MEMBERS Dr Jiow Hee Jhee Assistant Professor and
 Programme Director Criminology and Security Singapore Institute of Technology Ms Lee Soo Hui Head Content and TV StarHub Ltd Mr Kumaran Barathan CEO Singapore Indian Chamber of Commerce and Industry Ms Natasha Zhao Digital Management Consultant QED Consulting Dr Lim Sun Sun Professor and Head of Humanities, Arts & Social Sciences Singapore University of Technology & Design Mr Nicholas Gabriel Lim Senior Court Counsellor Psychologist Family Justice Courts Ms Stephanie Hung Senior Vice President ST Engineering Mr Steve Tan Director Ong Teng Cheong Labour Leadership Institute Director (Social Media Team) National Trades Union Congress 26 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 IMDA ADVISORY COMMITTEES National Cloud Computing Advisory Council (NCCAC) Mr Bill Liu Chairperson Chairman and Managing Partner Stream Global Mr Philip Heah Vice-Chairperson Senior Director Infocomm Media Development Authority MEMBERS Mr Chris Boesch Associate Professor of Information Systems (Practice) Singapore Management University Mr Terence Hung Chief, Computational Engineering Rolls-Royce Singapore Mr Chak Kong Soon Ex-President (SCS) and Managing Partner Stream Global Mr Lee Kee Siang Director, Resource Discovery & Management NLB Mr Raju Chellam Vice-Chair (Cloud & Data Chapter, SGTech), VP (New Technologies) Fusionex Mr Taufik Ahmed
 Faroock Deputy Director Enterprise Singapore Mr Rick Goh Director, Computing Science IHPC, A*Star Mr Leong See Sum Director, InfoComm Infrastructure DSTA Mr Tung Meng Fai Director, Infocomms and Media EDB Mr Tan Chee Chiang Senior Associate Director, Research Computing, Computer Centre National University of Singapore Mr Tan Kee Wee Programme Director, Built Environment Research and innovation institute BCA Mr Francis Lee Associate Professor, School of Computer Science and Engineering Nanyang Technological
 University Mr Yap Chee Yuen EVP RWS 27 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 IMDA ADVISORY COMMITTEES Personal Data Protection Commission Committee (PDPC) Mr Leong Keng Thai Chairman Deputy Chief Executive Infocomm Media Development Authority MEMBERS Mr Chris Boesch Associate Professor of Information Systems (Practice) Singapore Management University Professor Simon Chesterman Dean, Faculty of Law National University of Singapore Mr Lam Chee Kin Managing Director & Head, Group Legal, Compliance & Secretariat DBS Bank Ms Ong Seok Leng Senior Director (Governance Group), Government Technology Agency IMDA Mr Lim Biow Chuan President Consumers Association of Singapore Mr Teo Chin Hock Deputy Chief Executive Cyber Security Agency Mr Hui Choon Kuen Deputy Chief Counsel Advisory (Civil Division) & Dean, AGC Academy Attorney General’s Chamber Mr Lim Chin Hu Managing Partner Stream Global Ms Tina Huang Deputy Chief Executive Officer National Council of Social Service Mr Mohamed Nasser Ismail Senior Vice President, Head of Equity Capital Market (SMEs) & Head of Capital Market Development Singapore Stock Exchange Associate Professor Low Cheng Ooi Chief Medical Informatics Officer Ministry of Health and MOH Holdings Professor Steven Miller Vice Provost (Research) Singapore Management University Mr Tham Poh Cheong Secretary
 General Singapore Chinese Chamber of Commerce & Industry Mr Kurt Wee President Association of Small and Medium Enterprises 28 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 IMDA ADVISORY COMMITTEES PSB Contestable Funds Scheme (PCFS) Panel MEMBERS Ms Samantha Loh Seow May Senior Lecturer, School of Management and Communication Republic Polytechnic Mr Man Shu Sum
 Associate Director Academy of Film Hong Kong Baptist University Ms Catherine Yap Director, Destination Marketing Sentosa Leisure Management Pte Ltd Ms Zarina Yusof Senior Asst.
Director, Diabetes Programme Office Ministry of Health Mr Veeramani S/O Krishnan Senior Lecturer Republic Polytechnic Mr Ray Ng Tze Thim Asst.

Director, International Office Ngee Ann Polytechnic Ms Tan Li Yi Senior Producer/Presenter Singapore Press Holding Ms Lim Suat Jien General Manager Sentosa Leisure Management Pte Ltd Mr Ashraf Hamid Asst.

Director, Learning Technology & Digital Media Nanyang Technological University Ms Zu Wee Ling Senior Producer So Drama!
Entertainment Mr Wesley Wong Jeng Hsiung Lecturer Singapore Polytechnic Mr Seah Wee Thye Asst.
Vice President, Entertainment Universal Studios Singapore Ms Arlene Tan Nga Lye Associate Director, Strategic Communications National University of Singapore 29 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 Ms Lee Chor Lin Independent Museum & Art Consultant Board Member Singapore International Film Festival Mr Mark Shaw Executive Vice President Shaw Organisation Mr Michael Leow Counsel Gateway Law Corporation Mr Sebastian Tan Group Managing Director Shooting Gallery Asia Mr Tan Chih Chong Executive Producer Sitting in Pictures Mr TT Dhavamanni Director Blue River Pictures Ms Wee Li Lin Director Bobbing Buoy Films Ms Yvonne Tham Chief Executive Officer The Esplanade IMDA ADVISORY COMMITTEES Singapore Film Commission (SFC) Ms Jennie Chua Chairperson Chairman Vanguard Healthcare Mr Joachim Ng Director (Singapore Film Commission) Director Infocomm Media Development Authority MEMBERS Ms Anita Kuan Deputy Principal Temasek Polytechnic Ms Choo Meileen Executive Director Cathay Organisation Mr Eric Khoo Director Zhao Wei Films Ms Elaine Ng Senior Director Sector Development Performing Arts National Arts Council Mr Freddie Yeo Chief Operating Officer Infinite Frameworks 30 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 IMDA ADVISORY
 COMMITTEES Singapore Media Festival (SMF) Advisory Board Mr Robert Gilby Chairperson Former Managing Director The Walt Disney Company, SEA Ms Angeline Poh Vice Chairperson Assistant CEO, Industry Development Info-comm Media Development Authority MEMBERS Ms Anita Kuan Deputy Principal Temasek Polytechnic Ms Irene Ang Chief Executive Officer Fly Entertainment Mr Chang Long Jong Chief Executive Officer mm2 Asia Ms Clara Cheo Chief Executive Officer Golden Village Mr Jeff Cheong President Tribal Worldwide Asia
 Ms Shanty Harmayn Chief Executive Officer Salto Films Mr Albert Lee Chief Executive Officer Emperor Motion Pictures Mr Ryan Lim Founder and Principal Consultant QED Consulting Mr Man Shu Sum Associate Director Academy of Film Hong Kong Baptist University Mr Aseem Puri Marketing Director Unilever International Mr Jonathan Spink Chief Executive Officer HBO Asia 31 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 IMDA ADVISORY COMMITTEES Stamp Advisory Committee (SAC) Mr Hong Tuck Kun Chairman Managing Director and Head (Risk Management Group – Credit Head, Singapore) DBS Bank Ltd MEMBERS Ms Anita Kuan Deputy Principal Temasek Polytechnic Mr Lim Chong Jin Director (School of Design) Temasek Polytechnic Mr Venka Purushothaman Vice President (Academic) & Provost LASALLE College of the Arts Ms Siti Habibah Siraj Principal Architect SZ Architects Ms Chua Ai Liang Senior Director (Engagement & Participation) National Arts Council Mr Ong Tong San Senior Director (Market Access and Competition development) Infocomm Media Development Authority Mr Pitt Kuan Wah Head Library ISEAS – Yusof Ishak Institute Library Ms Chua Soh Leng Principal Paya Lebar Methodist Girls’ School (Primary) Mr Lim Li Kok Managing Director Asiapac Books Pte Ltd Ms Uma Rajan Independent Consultant - Mr Woo Keng Leong Chief Executive Officer (Postal Services)
 Singapore Post Limited Ms Tresnawati Prihadi Director & General Manager Singapore Philatelic Museum Mr Chua Eu Tiong Senior Consultant (Radiation Oncology) National Cancer Centre Singapore 32 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 IMDA ADVISORY COMMITTEES Telecommunications Standards Advisory Committee (TSAC) Mr Zander Lei Working Group Co-Chair Senior
 Researcher Huawei Singapore Research Centre Mr Lin Yih Working Group Chair Director DART Mr Chai Chin Loon Task Force Chair Senior Director (Cyber Security Group) GovTech Ms Grace Ong Task Force Chair Director (Transportation Technology) LTA Mr Raymond Lee Chairperson Director (Infocomm Resource & Technology) Infocomm Media Development Authorityw Mr Tan Boon Huat Working Group Chair Head (Access & Cable Engineering) Starhub Mr Li Hailong Working Group Chair Associate Director (Fixed Network Infrastructure Design & Engineering) Singtel Mr Emmanuel Andre Task Force Chair Former Senior Manager Starhub Mr Pyai Phyo Aung Task Force Chair Senior Engineer Starhub 33 MEMBERS Mr Darwin Ho Kang Ming Executive Council Member Association of Telecommunications Industry of Singapore (ATIS) Mr Goh Kim Soon Senior Vice President (Broadcast Engineering and Transmission) Mediacorp Pte Ltd Mr Yip Yew Seng Honorary Secretary Association of Telecommunications Industry of Singapore (ATIS) Ms Sun Sumei Head (Communications and Networks Cluster) Institute for Infocomm Research Mr Guan Yong Liang School of Electrical & Electronic Engineering Nanyang Technological University Ms Lim Siew Eng Director (Centre of Innovation for Electronics & IOT) Nanyang Polytechnic Mr Denis Seek Chief Technical Officer M1 Limited Mr Tan Tiong Heng Deputy Director (Engineering) M1 Limited Mr Tham Chen Khong Electrical & Computer Engineering National University of Singapore Mr Yu Changyuan Electrical & Computer
 Engineering National University of Singapore EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 IMDA ADVISORY COMMITTEES Telecommunications Standards Advisory Committee (TSAC) MEMBERS Mr Widjaja Suki Director (Products, Business Development & Process) Netlink Trust Pte Ltd Mr Ronald Lim Head (Regulatory and Risk Management) Nucleus Connect Mr Neo Yong Chiang Chief
 Information Officer (Office of Information Services) Republic Polytechnic Mr Steven Wong Kai Juan Programme Director Singapore Institute of Technology Mr Kuan Wai Mun Associate Director (Radio Network Quality) Singtel Mr Lim Eng Huat Vice President Starhub Mr Ian Thng Li-Jin Programme Director Singapore Institute of Technology Mr Lew Yoon Heng Senior Engineering Manager Singtel Mr Hong Tse Min Senior Assistant Director (Infocomm Resource & Technology Infocomm Media Development Authority Mr Wong Woon Kwong Director (Research and Industry Collaborations) Singapore University of Technology and Design Mr Jason Tan Head (Standards) Enterprise Singapore Ms Woo Yim Leng Senior Manager (Infocomm Resource & Technology) Infocomm Media Development Authority 34 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 35 EVERY BUSINESS Can Be A Digital Business Regardless of the sector or how digitally savvy a business is right now, our goal is to enable every business to become a digital one.
EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 MILESTONES AND HIGHLIGHTS MAY 2017 MAY 2017 MAY 2017 MAY 2017 PRE-APPROVED DIGITAL SOLUTIONS FOR SMES EXCITING DIGITAL SOLUTIONS SHOWCASED AT SMART NATION INNOVATIONS WEEK 2017 PROVIDING SGD-ACCREDITED COMPANIES THE PLATFORMS TO EXPAND SGX AND IMDA TO CREATE PATHWAY FOR SGD- ACCREDITED COMPANIES Fifty pre-approved digital solutions were announced at the inaugural SMEs Go Digital Industry Briefing.
Recognised under the SMEs Go Digital Programme, these ready-to-go solutions will help SMEs improve productivity and seize new growth opportunities.

Held in Singapore from 29 Apr to 4 May 2017, the third Smart Nation Innovations (SNI) Week showcased many opportunities for the digital economy.

The pillar events – Tech Saturday (Upsized!

), innovfest unbound, arise, convergence, futurenow and fintech360 – drew more than 22,000 guests from 52 countries.
Announcements to boost digital infrastructure in capabilities technology and Singapore were also made during the event.

frontier Accreditation@SGD progressively establishes key partners in various sectors to help SGD- accredited companies scale more effectively.

IMDA’s partnerships with DBS, OCBC and UOB have enabled these banks to quickly gain access to a pool of curated innovative FinTech solutions to support their digital transformation journey.
These partnerships will also enable SGD- accredited companies to work on FinTech projects within the banks, and expand into international markets through the banks’ global footprint.

Singapore Exchange (SGX) and IMDA signed a Memorandum of Intent (MOI) to create a streamlined pathway for fast-growing SGD- leverage private accredited companies to and public capital markets in Singapore for expansion.
The intention is to help technology companies access capital markets more easily, allowing more high-tech Initial Public Offerings (IPOs) to be launched.
36 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 MILESTONES AND HIGHLIGHTS JUL 2017 JUL 2017 AUG 2017 OCT 2017 FIRST-OF-ITS-KIND HIGH-RISE GREEN DATA CENTRE RAISING STANDARDS OF PRE- APPROVED DIGITAL SOLUTIONS BANKING AND TELCO PLAYERS HELP SMES BUILD CAPABILITIES ASEAN’S FIRST KNOW YOUR CUSTOMER BLOCKCHAIN PROOF-OF-CONCEPT (MOU).
IMDA has partnered with Huawei, Keppel Data Centres and Ascent Solutions through two Memoranda of Intent (MOI) and a Memorandum this of Understanding partnership, Huawei, IMDA, and Keppel Data Centres will explore constructing a first-of-its- kind green data centre building.

Huawei will also work with IMDA to accelerate the growth of local SMEs via its technical expertise and facilities, as well as its global network.
Through At the second SME Go Digital Industry Briefing, IMDA announced that it will continue to raise the standards of the pre-approved digital solutions to foster SMEs’ growth in the digital economy.

A new SME Digital Tech Hub will cater to SMEs with more advanced digital needs such as data analytics and cybersecurity.
and Seven Memoranda of Intent (MOI) were IMDA signed between Singapore’s telecommunication companies and banks to give local SMEs easier access to digital technologies, enabling them to build their digital capabilities.

Local telcos will provide SMEs with a one-stop service of comprehensive bundled digital technology packages.

The partnerships with banks will allow SMEs to access financial instruments like bridging loans to defray costs of investing in new capabilities.
IMDA, OCBC, HSBC and the Mitsubishi UFJ Financial Group (MUFG) collaborated to become the first consortium in Southeast Asia to successfully complete a proof-of-concept for a Know Your Customer (KYC) blockchain.

TThis development raises the possibility of using blockchain technology to make one of the most complex and highly regulated financial processes more efficient and secure, hence helping to combat money laundering and financial terrorism.
37 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 MILESTONES AND HIGHLIGHTS NOV 2017 NOV 2017 NOV 2017 INNOVATION AT HEART OF LOGISTICS INDUSTRY DIGITAL PLAN GIVING SINGAPORE’S ECONOMY THE DIGITAL EDGE SPOTLIGHT ON AI: COMPREHENSIVE FRAMEWORK ANNOUNCED IMDA revealed its approach to helping the logistics sector digitalise through the Logistics Industry Digital Plan (IDP) for SMEs, and through Innovation Initiatives such as a federated parcel locker network.
The first IDP to be launched, the plan includes step-by-step advice to help SMEs assess their digital readiness, identify skill gaps in the workforce to support digitalisation, as well as offer a guide to digital solutions that are specific to enhancing logistics operations and businesses.

38 IMDA released the Industry Transformation Map (ITM) for the Infocomm Media (ICM) sector, which outlines strategies to prepare Singapore for the digital economy.
It also announced that Accreditation@IMDA will be expanded and rebranded to become Accreditation@SG Digital to enable companies to leverage the Singapore brand for better recognition overseas.

Furthermore, it announced the Retail Industry Digital Plan (IDP) for SMEs that was developed in partnership with SPRING.

The Retail IDP will accelerate the transformation for more than 22,000 establishments.
To complement the Retail IDP, IMDA also worked with partners to use digital technologies to create richer and more immersive retail experiences for consumers.

One such precinct-level initiative will be for Kampong Glam.

Through this innovative initiative, retailers in Kampong Glam can look forward to using technologies such as data analytics and immersive media to provide personalised services to consumers and enhanced retail experiences.
Artificial Intelligence (AI) has been identified as one of four frontier technologies which is essential to growing Singapore’s economy.

Initiatives were announced in November to build up AI capabilities.

Companies already in the AI space or looking to adopt AI solutions can thus look forward to: 1) The AI Business Partnership Programme to facilitate partnerships between local companies with AI solutions providers.

2) Widened availability of AI solutions via Accreditation@SGD and SMEs Go Digital.
3) A pipeline of locally-grown, globally-known AI-enabled talent via the AI Singapore Apprenticeship Programme.

4) The creation of AI libraries starting with a National Speech Corpus.
EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 MILESTONES AND HIGHLIGHTS JAN 2018 FEB 2018 FEB 2018 MASTERPLAN FOR PUNGGOL DIGITAL DISTRICT UNVEILED OPEN INNOVATION PLATFORM TO ACCELERATE DIGITAL TRANSFORMATION NATIONWIDE E-INVOICING SYSTEM TO SPEED UP PAYMENTS, REDUCE ERRORS Technology and innovation will be at the heart of the environment- friendly Punggol Digital District (PDD) when it opens progressively from 2023.
A joint project of IMDA, JTC, Singapore Institute of Technology (SIT), and Urban Redevelopment Authority (URA), PDD is envisioned to be a car-lite, vibrant, green and inclusive district underpinned by cutting-edge technology, and urban and social innovation, to make everyday living more convenient and sustainable.
It will be home to JTC’s business park buildings and SIT’s new campus, facilitating the cross-fertilisation of knowledge and collaboration opportunities among students, faculty and industry professionals.

39 The IMDA-driven Open Innovation Platform was launched during Budget 2018 to match problem owners and problem solvers, as part of Singapore’s transformation into a digital economy.
The virtual platform aims to provide Singapore-based companies and sectors with access to multi-disciplinary talent, expertise and technology to accelerate their digitalisation efforts.

IMDA will work with researchers to solve the tech-related challenges faced by trade associations, SMEs, government sector leads and Singapore-based companies.

The roll-out of a nationwide e-invoicing system was announced during Budget 2018 to accelerate productivity for business owners.
Electronic invoicing, or e-invoicing, is the automated creation, exchange and processing of requests for payments between suppliers and buyers using a structured digital format.

It is different from existing digitised invoices in formats such as Word and PDF, which require some level of human input to process.

Businesses will benefit from e-invoicing because costs will be reduced, payments speeded up, and errors reduced.
EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 EVERY WORKER Can Be Empowered By Infocomm And Media New skills.

New jobs.

New ways to grow a career.

Our goal is to equip every worker with the tools and knowledge to get ahead in the digital economy.
40 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 MILESTONES AND HIGHLIGHTS JUL 2017 SEP 2017 OCT 2017 OCT 2017 SINGAPORE’S FIRST “DIGITAL GARAGE” MORE TALENT RECOGNISED AT THE IMDA AWARDS CEREMONY CONTENT DEVELOPMENT FUND TO REINVIGORATE LOCAL CONTENT OVER 450 HOURS OF CONTENT FROM SINGAPORE AT MIPCOM 2017 Tanjong Pagar Community Club (CC) has hosted the inaugural Digital Garage in its newly launched making space.
The Digital Garage teaches tech making and coding skills, and its goal is to enable 1,000 members of the public to join the Tanjong Pagar CC Digital Makers Interest Group in the first three years.
At the IMDA Awards Ceremony, close to 50 scholarships were awarded to recipients embarking on Infocomm and Media studies, and 800 beneficiaries of the Industry Preparation for Pre- Graduates (iPREP) programme received access to funding for courses and certification as well as industry internship and mentorship opportunities.

The scholarships awarded include the Infocomm Infocomm Polytechnic Scholarship, National Scholarship, National Cybersecurity Postgraduate Scholarship and Media Education Scholarship.
IMDA and Mediacorp launched a new Content Development Fund (CDF) to reinvigorate, refresh and raise the quality, innovativeness and creativity of Public Service Broadcast (PSB) content on Mediacorp’s platforms.

The three-year fund will provide seed money for local content creators to pilot and test new concepts and formats.

It aims to encourage experimentation and the use of cutting-edge technologies to create fun, engaging and meaningful content.
IMDA led a delegation of 15 Singapore media companies to MIPCOM 2017 and presented over 450 hours of compelling stories across 50 titles from Asia.
At the event, Singapore’s Tiny Island Productions also signed a 10-feature film co-production Memorandum of Understanding (MOU) valued at US$250 million with Wings Media – a member of the Oriental Pearl Group and a wholly owned subsidiary of China’s media giant, the Shanghai Media Group – as well as Thailand’s Shellhut Entertainment Co Ltd. 41 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 MILESTONES AND HIGHLIGHTS OCT 2017 NOV 2017 NOV 2017 NOV 2017 SUPPORTING MID-CAREER JOBSEEKERS IN ICT SKILLS FRAMEWORK FOR ICT LAUNCHED LANDMARK PARTNERSHIP TO DEVELOP SINGAPORE’S ICT CAPABILITIES FOR FINTECH NEW TRIPARTITE STANDARD PROMOTES INDUSTRY BEST PRACTICES FOR MEDIA FREELANCERS Infocomm Technology Mid-career (ICT) jobseekers will now have more opportunities to experience working in dynamic tech companies through the TechSkills Accelerator (TeSA) pilot immersion programme.
Through the programme, seven high-growth tech start-ups and SMEs will offer them the opportunity to work on short-term projects.

The seven companies are EverComm, PropertyGuru, Sea, Shopee, Taiger, Trakomatic and Zalora.

launched Skills Framework A newly for Infocomm Technology (SF for ICT) will develop a skilled ICT talent pipeline for Singapore’s digital economy.
SF for ICT is a comprehensive guide to ICT skills and employment opportunities, and maps out career paths in Security, Support, Infrastructure, Data, Professional Services, Software and Applications, and Sales and Marketing.

The framework covers 119 job roles and over 80 existing and emerging skills across different sectors, including ICT, retail, logistics, finance and healthcare.
IMDA, the Monetary Authority of Singapore (MAS), SkillsFuture Singapore (SSG), six local universities and five financial associations sealed a landmark Memorandum of Intent (MOI) for the TechSkills Accelerator (TeSA) FinTech Collective, enabling them to jointly develop Infocomm Technology (ICT) talent to meet the rising demand.
Under this collective, university students can look forward to Professional Education Training (PET) in the area, and polytechnic graduates and ICT professionals can enjoy Continuing Education Training (CET) initiatives for upskilling and reskilling.

The new Tripartite Standard on the Procurement of Services from Media Freelancers (TS Media Freelancers) will provide better support for media freelancers.
The TS Media Freelancers sets out industry best practices that promote stronger working between companies and media freelancers in a fair and progressive workplace.

The standard outlines four key areas – Written Contracts, Timely Payment, Dispute Resolution and Insurance.
relationships 42 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 MILESTONES AND HIGHLIGHTS DEC 2017 FEB 2018 FEB 2018 MAR 2018 SINGAPORE MEDIA FESTIVAL 2017 CELEBRATES INNOVATIVE ASIAN STORYTELLING FIRST SQUARED ONLINE COHORT GRADUATES WITH DIGITAL CAPABILITIES TECHSKILLS ACCELERATOR GETS ADDITIONAL $145 MILLION INNOVATIVE TECHNOLOGIES SHOWCASED AT HEALTH TECH DAY 2017 The fourth edition of the Singapore Media Festival (SMF) included pillar events such as the Asia TV Forum & Market (ATF), ScreenSingapore, the Singapore International Film Festival (SGIFF) and SMF Ignite.
The event saw over 20,000 media and creative professionals, industry thought leaders and fans of television and film from around the world come together to celebrate the best of Asian storytelling.

This year had a strong emphasis on emerging technologies, new platforms and creative innovation, and cast a spotlight on Singapore’s collaboration with Indonesia – SMF’s first Country-of-Focus.
43 About 100 business leaders from 79 Singapore companies have graduated as the first cohort of Squared Online for SMEs – a digital marketing leadership programme.

With the goal of fostering digital leaders and developing digital marketing competencies, the programme is a partnership between IMDA, Google and training provider Avado.

Squared Online for SMEs aims to train 1,000 digital leaders by 2019.
TechSkills Accelerator received an additional $145 million over three years, Finance Minister Heng Swee Keat announced during the Budget.

This would provide an additional 20,000 training places by 2020.

The programme would be expanded to let people learn emerging digital skills, such as data analytics, artificial intelligence, and cyber security.
The TechSkills Accelerator (TeSA) Health Tech Day brought over 40 organisations together to showcase cutting-edge product innovations as well as more than 500 job opportunities.

Over 500 industry practitioners, students and working professionals attended the event, which was organised by IMDA, in partnership with Integrated Health Information Systems (IHiS).

The event included talks by industry experts, conversation series with venture capitalists, technology showcases and company visits.
EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 EVERY CITIZEN Can Be A Connected Citizen From students to the Silver Generation, there are programmes to help every citizen embrace digital, in a new age that holds exciting possibilities for every Singaporean.
44 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 MILESTONES AND HIGHLIGHTS APR 2017 MAY 2017 JUN 2017 JUL 2017 IMPROVED WIRELESS@SG FOR BETTER USER EXPERIENCE EMPOWERING EVERYONE IN THEIR DIGITAL JOURNEYS NEW ONLINE RESOURCE FOR SENIORS TO GO DIGITAL STUDENTS STRIVE AT CODE::XTREMEAPPS::2017 Wireless@SG was enhanced to offer users a new login experience.
Now, users including those with non-SIM devices like laptops and tablets can enjoy automatic login whenever they are near a Wireless@SG hotspot.

In addition to the enhancement, a fifth operator – MyRepublic – will now help to expand the Wireless@SG network.
As part of IMDA’s efforts to give everyone access to technology, IMDA, with sponsors POSB, NTUC FairPrice Foundation and NetLink Trust, announced that 900 low-income households will be provided with the opportunity to sign up for free home broadband and tablets.

Complementing this initiative is the new IM Bonding Learning and POSB, which gives seniors from low-income households dedicated tutorials on tablet usage and Internet navigation.

IMDA launched the IM Silver Portal (www.


IMSilver.sg), a new one-stop learning resource for the silver generation.

The portal offers seniors access to online guides, e-books, videos and seminars that will enable them to use mobile and digital technologies in their daily lives.

The annual Code::XtremeApps:: (CXA) hackathon saw 118 teams compete, and spark solutions for 2017’s theme of My Smart City: Connecting Our Senses.
The winning solutions of the top teams include improving overall operational safety within the port by using data, sensors and GPS to achieve real-time feedback and faster response times; an application that monitors crowd engagement of ad-hoc events and exhibitions; and a smart bus-stop solution that detects weather conditions and alerts commuters of approaching buses.
45 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 MILESTONES AND HIGHLIGHTS NOV 2017 NOV 2017 DEC 2017 FEB 2018 ANALOGUE TV BROADCAST TO CEASE IN DEC 2018 DIGITAL CLINICS FOR SENIORS HOUR OF CODE FOR COMPUTATIONAL THINKING BETTER INTERNET CAMPAIGN 2018 FOCUSES ON CYBER- BULLYING, SAFETY AND SECURITY Minister for Communications and Information Dr Yaacob Ibrahim announced that the cessation of analogue TV broadcast has been shifted from end-2017 to 31 December 2018 to give households more time to switch to Digital TV (DTV).
Free-to-air TV programmes will only be broadcast in digital format from 1 January 2019.

Changi Business Park (CBP) Gives has partnered IMDA and the South East Community Development Council (CDC) to host nearly 30 Digital Clinics to help senior citizens become more proficient with interacting and transacting through their mobile phones.

About 400 volunteers from participating companies will engage with more than 1,000 seniors within the next year to provide one-on-one assistance.
Skool4Kidz is the first preschool in Singapore to host the global Hour of Code movement, introducing 250 preschool students and their family members to computer science, and demonstrating that participants of almost any age can learn coding and develop skills in computational thinking and active problem- solving.
Supported by IMDA, the Hour of Code is an activity to encourage all individuals, regardless of age and background, to not only become familiar with technology, but to also actively participate in exploring, experimenting with, and solving problems with technology.

The Better Internet Campaign 2018 was launched on 6 February 2018.

With the tagline “Be Safe, Be Smart, and Be Kind Online”, the event focused on cyberbullying, discernment and cyber safety and security.
A series of bite-sized instructional online videos about cyberbullying and discerning online content, a television commercial on cyber safety and security for seniors, and social media content and tip sheets were produced to generate awareness and encourage discussion.
46 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 EVERYONE Can Be Part of Planning The Future Conducive and clear regulation frameworks are designed with input from the public and the industry to encourage innovation and fair competition.

And the upholding of standards improves the quality of service and infrastructure.
47 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 MILESTONES AND HIGHLIGHTS APR 2017 APR 2017 APR 2017 MAY 2017 FIRST STAGE OF GENERAL SPECTRUM AUCTION INVESTIGATIONS INTO STARHUB’S OCTOBER 2016 HOME BROADBAND NETWORK DISRUPTION CONCLUDED MAKING NEW BUILDINGS FUTURE-READY BREACH OF VIDEO-ON-DEMAND PROGRAMME CODE The first stage of the General Spectrum Auction (GSA) concluded, with a total of 175 MHz of spectrum awarded to M1 Limited, Singtel Mobile Singapore Pte Ltd, StarHub Mobile Pte Ltd and TPG Telecom Pte Ltd for total winning bids amounting to approximately $1.14 billion.
The winning bidders were allowed to use the spectrum as early as 1 Jul 2017 to enhance their mobile networks, meeting the increasing demand for mobile data services.

IMDA and the Cyber Security Agency of Singapore (CSA) completed investigations into StarHub Online Pte Ltd’s (StarHub) home broadband network disruptions.
The incidents affected some StarHub home fibre broadband customers on 22 and 24 October 2016, and have been found to be caused by a surge in legitimate Domain Name System (DNS) traffic, which was not linked to a Distributed Denial of Service (DDoS) attack.

StarHub has been warned by IMDA over these incidents.
IMDA has also required StarHub to engage an independent expert to undertake a review of its DNS and other associated infrastructure, to ensure that its network is resilient to future incidents of this nature.

48 IMDA published a Consultation Paper on the Code of Practice for Info-communication Facilities in Buildings (COPIF).

The code ensures that developers and/or owners of buildings and developments provide adequate space and facilities for equipment used for info- communication services.
An episode of Toggle’s Chinese language web drama series, “I Want To Be A Star”, carried an offensive remark when one of the characters said Indians and Africans were the same, making no difference if an Indian were cast as an African in a TV production.

The racial stereotyping resulted in a $5,500 penalty for Mediacorp, in breach of the Video-On-Demand Programme Code.
EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 MILESTONES AND HIGHLIGHTS MAY 2017 OCT 2017 FEB 2018 REVIEW OF NETLINK TRUST’S INTERCONNECTION OFFER INVESTIGATIONS INTO SINGNET’S FIBRE BROADBAND SERVICE DISRUPTIONS CONCLUDED FIRST PUBLIC CONSULTATION ON REVIEW OF PERSONAL DATA PROTECTION ACT CONCLUDED IMDA completed reviewing the wholesale prices, terms and conditions of NetLink Trust’s Interconnection Offer (ICO), ensuring its reasonableness and cost efficiency.
Most of NetLink Trust’s wholesale prices for the industry have been reduced, encouraging Retail Service Providers (RSPs) to provide more attractive and value-added offerings to their customers.

IMDA concluded its investigations into the SingNet Fibre Broadband Service Disruption on 3 December 2016.
Investigations revealed that the service disruption that had affected close to 90% of SingNet’s fibre broadband subscribers was triggered by a maintenance activity that overloaded the Dynamic Host Control Protocol (DHCP) servers.

SingNet had also failed to address the high utilisation loads although there were early warning signs leading to the event.

The company incurred a financial penalty of $500,000.
49 The Personal Data Protection Commission (PDPC) launched a public consultation on 27 July 2017 on Approaches to Managing Personal Data in the Digital Economy, in which PDPC sought feedback about the relevance of other bases for collecting, using and disclosing personal data under the Personal Data Protection Act 2012 (PDPA).

PDPC has proposed a mandatory data breach notification regime under the PDPA.

This is the first of a series of public consultations that PDPC is conducting for the PDPA.
Public responses were received in October 2017, and PDPC published its response in February 2018.
EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 MILESTONES AND HIGHLIGHTS MAR 2018 MAR 2018 CONDUCTED PUBLIC CONSULTATION ON ALTERNATIVE DISPUTE RESOLUTION PUBLIC CONSULTATION ON PROPOSED AMENDMENTS TO THE FILMS ACT IMDA launched a public consultation for its proposed framework regarding the Telecommunication and Subscription TV Mediation-Adjudication Scheme.
This initiative will provide a fair and affordable alternative for dispute resolution pertaining to telecommunication and media services, incentivising faster resolution by service providers.

IMDA has proposed to make it mandatory for certain service providers to participate in the scheme, ensuring a more effective dispute resolution process.

The public consultation closed in March 2018.


IMDA and the Ministry of Communications and Information (MCI) conducted a public consultation on the proposed amendments to the Films Act (FA), that aim to keep the FA relevant for consumers as well as the industry.

The amendments include formally establishing a co-classification scheme for films that have up to a PG13 rating, and introducing a class licence for video game retailers.

The FA was passed in Parliament on 21 March 2018.


50 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18 FINANCIAL STATEMENTS Info-communications Media Development Authority and its subsidiary Consolidated Annual Report Year ended 31 March 2018 KPMG LLP (Registration No.
T08LL1267L), an accounting limited liability partnership registered in Singapore under the Limited Liability Partnership Act (Chapter 163A) and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity.
Info-communications Media Development Authority Statement by Info-communications Media Development Authority Year ended 31 March 2018 Statement by Info-communications Media Development Authority In our opinion: (a) the accompanying financial statements of Info-communications Media Development Authority (the “Authority”) and its subsidiary (the “Group”) as set out on pages FS1 to FS57 are drawn up in accordance with the provisions of the Info-communications Media Development Authority Act (No.
22 of 2016) (the “Act”) and Statutory Board Financial Reporting Standards so as to present fairly, in all material respects, the state of affairs of the Group and of the Authority as at 31 March 2018 and the results and changes in equity of the Group and of the Authority, and cash flows of the Group for the year then ended; (b) proper accounting and other records have been kept, including records of all assets of the Group whether purchased, donated or otherwise; and (c) the receipts, expenditure and investment of moneys and the acquisition and disposal of assets by the Authority during the financial year have been in accordance with the provisions of the Act.
The Board of the Info-communications Media Development Authority has, on the date of this statement, authorised these financial statements for issue.
On behalf of the Board Chan Yeng Kit Chairman Tan Kiat How Chief Executive Officer 17 July 2018 1 KPMG LLP 16 Raffles Quay #22-00 Hong Leong Building Singapore 048581 Telephone Fax Internet +65 6213 3388 +65 6225 0984 www.kpmg.com.sg Independent Auditors’ Report Member of Info-communications Media Development Authority Info-communications Media Development Authority Report on the audit of the financial statements Opinion We have audited the financial statements of Info-communications Media Development Authority (the “Authority”) and its subsidiary (the “Group”), which comprise the consolidated statements of financial position of the Group and the statement of financial position of the Authority as at 31 March 2018, the consolidated statements of comprehensive income and consolidated statements of changes in equity of the Group and the statement of comprehensive income and statement of changes in equity of the Authority and the consolidated statement of cash flows of the Group for the year then ended, and notes to the financial statements, including a summary of significant accounting policies, set out on pages FS1 to FS57.
In our opinion, the accompanying consolidated financial statements of the Group and the statements of financial position, statement of comprehensive income and statement of changes in equity of the Authority are properly drawn up in accordance with the provisions of the Info-communications Media Development Authority Act (the “Act”) and Statutory Board Financial Reporting Standards so as to present fairly, in all material respects, the state of affairs of the Group and the Authority as at 31 March 2018 and the results and changes in equity of the Group and the Authority and cash flows of the Group for the year ended on that date.
Basis for opinion We conducted our audit in accordance with Singapore Standards on Auditing (SSAs).

Our responsibilities under those standards are further described in the ‘Auditors’ responsibilities for the audit of the financial statements’ section of our report.
We are independent of the Authority in accordance with the Accounting and Corporate Regulatory Authority Code of Professional Conduct and Ethics for Public Accountants and Accounting Entities (ACRA Code) together with the ethical requirements that are relevant to our audit of the financial statements in Singapore, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ACRA Code.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Other information Management is responsible for the other information.

The other information comprises the information included in the annual report, but does not include the financial statements and our auditors’ report thereon.

KPMG LLP (Registration No.


T08LL1267L), an accounting limited liability partnership registered in Singapore under the Limited Liability Partnership Act (Chapter 163A) and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity.
2 Info-communications Media Development Authority Independent Auditors’ Report Year ended 31 March 2018 We have obtained the Statement by Info-communications Media Development Authority prior to the date of this auditors’ report.

The Chairman’s Message, Highlights, Key Performance Indicators and Performance for Public Service Broadcast Programmes (‘the Reports’) are expected to be made available to us after that date.
Our opinion on the financial statements does not cover the other information and we will not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated.
When we read the Reports, if we conclude that there is a material misstatement therein, we are required to communicate the matter to those charged with governance and take appropriate actions in accordance with SSAs.
Responsibilities of management for the financial statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with the provisions of the Act and Statutory Board Financial Reporting Standards, and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
A statutory board is constituted based on its Act and its dissolution requires Parliament’s approval.

In preparing the financial statements, management is responsible for assessing the Authority’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless there is intention to wind up the Authority or for the Authority to cease operations.
The Audit and Risk Committee is responsible for overseeing the Group’s financial reporting process.

Auditors’ responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion.
Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SSAs will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
3 Info-communications Media Development Authority Independent Auditors’ Report Year ended 31 March 2018 As part of an audit in accordance with SSAs, we exercise professional judgement and maintain professional scepticism throughout the audit.
We also: • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion.
The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls.

• Obtain an understanding of internal controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group’s internal controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

• Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group’s ability to continue as a going concern.
If we conclude that a material uncertainty exists, we are required to draw attention in our auditors’ report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion.

Our conclusions are based on the audit evidence obtained up to the date of our auditors’ report.

However, future events or conditions may cause the Group to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

• Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements.
We are responsible for the direction, supervision and performance of the group audit.

We remain solely responsible for our audit opinion.

We communicate with the Audit and Risk Committee regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal controls that we identify during our audit.
4 Info-communications Media Development Authority Independent Auditors’ Report Year ended 31 March 2018 Report on other legal and regulatory requirements Opinion In our opinion: (a) the receipts, expenditure, investment of moneys and the acquisition and disposal of assets by the Authority during the year are, in all material respects, in accordance with the provisions of the Act.
(b) proper accounting and other records have been kept, including records of all assets of the Authority and of the subsidiary incorporated in Singapore of which we are the auditors whether purchased, donated or otherwise.

Basis for opinion We conducted our audit in accordance with SSAs.

Our responsibilities under those standards are further described in the Auditors’ Responsibilities for the Compliance Audit section of our report.
We are independent of the Board in accordance with the ACRA Code together with the ethical requirements that are relevant to our audit of the financial statements in Singapore, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ACRA Code.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on management’s compliance.
Responsibilities of management for compliance with legal and regulatory requirements Management is responsible for ensuring that the receipts, expenditure, investment of moneys and the acquisition and disposal of assets, are in accordance with the provisions of the Act.

This responsibility includes implementing accounting and internal controls as management determines are necessary to enable compliance with the provisions of the Act.
Auditors’ responsibilities for the compliance audit Our responsibility is to express an opinion on management’s compliance based on our audit of the financial statements.

We planned and performed the compliance audit to obtain reasonable assurance about whether the receipts, expenditure, investment of moneys and the acquisition and disposal of assets, are in accordance with the provisions of the Act.
5 Info-communications Media Development Authority Independent Auditors’ Report Year ended 31 March 2018 Our compliance audit includes obtaining an understanding of the internal control relevant to the receipts, expenditure, investment of moneys and the acquisition and disposal of assets; and assessing the risks of material misstatement of the financial statements from non-compliance, if any, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control.
Because of the inherent limitations in any accounting and internal control system, non- compliances may nevertheless occur and not be detected.
KPMG LLP Public Accountants and Chartered Accountants Singapore 17 July 2018 6 Statements of financial position As at 31 March 2018 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 Note Group 2018 $’000 2017 $’000 Authority 2018 $’000 2017 $’000 Assets Property, plant and equipment Intangible assets Subsidiary Deferred scholarship expenditure Available-for-sale financial assets Financial assets at fair value through profit or loss Non-current assets Trade and other receivables Amount due from a subsidiary Cash and cash equivalents Deferred scholarship expenditure Current assets Total assets Equity Share capital Capital account Fair value reserve Accumulated surplus/(deficit) Total equity Liabilities Deferred income Amount due to a subsidiary Deferred capital grants Other deferred grants Provision for pension and medical benefits Provision for ex-gratia Provision for reinstatement of property, plant and equipment Deferred tax liabilities Non-current liabilities Deferred income Trade and other payables Amount due to a subsidiary Grants received in advance Provision for pension and medical benefits Income tax payable Current liabilities 4 5 6 7 9 10 8 11 12 15 17 18 13 15 14 16 13 15,484 6,550 – 1,909 – 6,475 6,503 – 2,227 763 15,318 6,302 3,813 1,909 – 5,702 6,503 3,813 2,227 763 127,433 151,376 122,551 138,519 127,433 154,775 122,551 141,559 59,350 – 161,854 – 161,694 700 1,441,540 1,121,475 1,428,335 1,109,278 1,268 1,501,538 1,284,597 1,488,446 1,272,940 59,196 267
 1,268 648 648 1,652,914 1,423,116 1,643,221 1,414,499 2,901 635,645 – 14,275 652,821 699,235 – 12,015 – 33,665 175 5,764 70 750,924 130,585 92,613 – 21,736 3,806 429 249,169 1,201 635,645 452 (18,587) 618,711 2,901 622,452 – 12,751 638,104 1,201 622,452 452 (19,542) 604,563 480,285 – 10,180 311 36,826 170 2,188 166 530,126 115,640 110,395 – 44,245 3,952 47 274,279 698,844 4,000 12,015 – 33,665 175 5,764 – 754,463 127,702 91,410 6,000 21,736 3,806 – 250,654 479,895 10,000 10,180 311 36,826 170 2,188 – 539,570 112,723 109,446 – 44,245 3,952 – 270,366 Total liabilities Total equity and liabilities 1,000,093 809,936 804,405 1,005,117 1,652,914 1,423,116 1,643,221 1,414,499 Net assets of trust and agency funds 19 24,354 90,707 24,354 90,707 The accompanying notes form an integral part of these financial statements.
FS1 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 Statements of comprehensive income Year ended 31 March 2018 Group Year ended 31 March 2018 Restricted Funds $’000 General Fund $’000 Total $’000 Group 1 October 2016 (date of establishment) to 31 March 2017 Restricted Funds $’000 General Fund $’000 Total $’000 Note Income Licence and frequency fees Service fees Revenue from completed films Interest income Other income 20 Gain on divestment of financial assets available- for-sale Net gain/(loss) on financial assets at fair value through profit or loss Expenses Employee compensation Professional and consultancy fees Outreach, events and publicity expenses IT expenses Irrecoverable GST Other expenses General and administrative expenses Rental expenses Staff training Depreciation and amortisation expenses Total operating expenditure 4 and 5 156,888 5,014 841 18,267 4,825 185,835 25 21 4,858 – – – – 2 2 – – 156,888 5,014 71,492 2,482 841 18,267 4,827 185,837 3,144 5,376 1,349 83,843 25 1,682 – – – – – – – 71,492 2,482 3,144 5,376 1,349 83,843 1,682 4,858 (2,353) – (2,353) 22 (118,667) – (118,667) (56,462) – (56,462) (14,141) (2,275) (16,416) (11,051) (75) (11,126) (8,394) (23,282) (4,830) (10,230) (4,077) (10,090) (2,019) (2,939) (436) (17) (278) (11,333) (23,718) (4,847) (10,508) (7,153) (15,347) (2,024) (4,985) (49) (900) – (4,126) (10,990) (2,019) (4,626) (4,691) (1,043) (277) (13) – (93) (215) (375) – (7,430) (15,360) (2,024) (5,078) (4,841) (5,066) (1,043) (5,832)
 (201,562) (1,231) (3,233) (7,063) (8,125) (209,687) (110,615) (505) (3,738) (1,553) (112,168) Development expenses 23 (28,059) (38,604) (66,663) (20,968) (32,217) (53,185) Deficit before grants carried forward (38,903) (46,727) (85,630) (48,411) (33,770) (82,181) The accompanying notes form an integral part of these financial statements.
FS2 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 Statements of comprehensive income (cont’d) Year ended 31 March 2018 Group Year ended 31 March 2018 Restricted Funds $’000 General Fund $’000 Total $’000 Group 1 October 2016 (date of establishment) to 31 March 2017 Restricted Funds $’000 General Fund $’000 Total $’000 (38,903) (46,727) (85,630) (48,411) (33,770) (82,181) 67,078 45,227 112,305 25,844 33,172 59,016 4,811 1,500 6,311 1,554 598 2,152 Deficit before grants brought forward Government grants Government grants Deferred capital grants amortised Note 16 17 Total government grants 71,889 46,727 118,616 27,398 33,770 61,168 Net surplus/(deficit) before contribution to consolidated fund and tax Tax expenses Net surplus/(deficit) for the year/period Other comprehensive income Items that will not be reclassified to income or expenditure Actuarial gain recognised on provision for pension and medical benefits Items that are or may be reclassified subsequently to income or expenditure Net change in fair value of financial assets available- for-sale Net change in fair value of financial assets available- for-sale reclassified to income or expenditure Total other comprehensive income Total comprehensive income 32,986 (304) – – 32,986 (21,013) (304) (120) – – (21,013) (120) 32,682 – 32,682 (21,133) – (21,133) 13 180 – 180 2,546 – 2,546 – (427) (427) – – – – (25) (25) – (1,682) (1,682) 180 (452) (272) 2,546 (1,682) 864 32,862 (452) 32,410 (18,587) (1,682) (20,269) The
 accompanying notes form an integral part of these financial statements.
FS3 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 Statements of comprehensive income (cont’d) Year ended 31 March 2018 Authority Year ended 31 March 2018 Restricted Funds $’000 General Fund $’000 Total $’000 Authority 1 October 2016 (date of establishment) to 31 March 2017 Restricted Funds $’000 General Fund $’000 Total $’000 Note Income Licence and frequency fees Revenue from completed films Interest income Other income 20 Gain on divestment of financial assets available- for-sale Net gain/(loss) on financial assets at fair value through profit or loss Expenses Employee compensation Professional and consultancy fees Outreach, events and publicity expenses IT expenses Irrecoverable GST Other expenses General and administrative expenses Rental expenses Staff training Depreciation and amortisation expenses Total operating expenditure 156,888 841 18,108 6,159 181,996 25 21 4,858 – – – 2 2 – – 156,888 71,492 841 18,108 6,161 181,998 3,144 5,376 1,406 81,418 25 1,682 – – – – – – 71,492 3,144 5,376 1,406 81,418 1,682 4,858 (2,353) – (2,353) 22 (116,925) – (116,925) (55,574) – (55,574) (14,069) (2,275) (16,344) (10,991) (75) (11,066) (8,272) (22,785) (4,830) (10,325) (3,875) (10,090) (2,019) (2,939) (436) (17) (278) (11,211) (23,221) (4,847) (10,603) (7,145) (15,125) (2,024) (5,117) (49) (900) – (3,924) (10,990) (2,019) (4,522) (4,691) (1,043) (277) (13) – (93) (215) (375) – (7,422) (15,138) (2,024) (5,210) (4,737) (5,066) (1,043) 4 and 5 (5,406) (198,596) (1,231)
 (3,033) (6,637) (8,125) (206,721) (109,265) (505) (3,538) (1,553) (110,818) Development expenses 23 (28,059) (38,604) (66,663) (20,968) (32,217) (53,185) Deficit before grants carried forward (39,776) (46,727) (86,503) (49,486) (33,770) (83,256) The accompanying notes form an integral part of these financial statements.
FS4 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 Statements of comprehensive income (cont’d) Year ended 31 March 2018 Authority Year ended 31 March 2018 Restricted Funds $’000 General Fund $’000 Total $’000 Authority 1 October 2016 (date of establishment) to 31 March 2017 Restricted Funds $’000 General Fund $’000 Total $’000 (39,776) (46,727) (86,503) (49,486) (33,770) (83,256) 67,078 45,227 112,305 25,844 33,172 59,016 4,811 1,500 6,311 1,554 598 2,152 Deficit before grants brought forward Government grants Government grants Deferred capital grants amortised Note 16 17 Total government grants 71,889 46,727 118,616 27,398 33,770 61,168 Net surplus/(deficit) for the year/period Other comprehensive income Items that will not be reclassified to income or expenditure Actuarial gain recognised on provision for pension and medical benefits Items that are or may be reclassified subsequently to income or expenditure Net change in fair value of financial assets available- for-sale Net change in fair value of financial assets available- for-sale reclassified to income or expenditure Total other comprehensive income Total comprehensive income 32,113 – 32,113 (22,088) – (22,088) 13 180 – 180 2,546 – 2,546 – (427) (427) – – – – (25) (25) – (1,682) (1,682) 180 (452) (272) 2,546 (1,682) 864 32,293 (452) 31,841 (19,542) (1,682) (21,224) The accompanying notes form an integral part of these financial statements.
FS5 Statements of changes in equity Year ended 31 March 2018 Group Capitalisation of net assets transferred on 1 October 2016, date of establishment Net deficit for the period Other comprehensive income Actuarial gain recognised on provision for pension and medical benefits Net change in fair value of financial assets available-for-sale reclassified to income and expenditure Total other comprehensive income Total comprehensive income Info-communications Media Development Authority Financial statements Year ended 31 March 2018 Share capital $’000 Capital account $’000 Fair value reserve (Restricted Funds) $’000 <---------- Accumulated deficit ----------> Restricted Funds $’000 General Fund $’000 Subtotal $’000 Total $’000 1,201 635,645 2,134 – – – – – – – – – – – – – (21,133) – 2,546 (1,682) (1,682) (1,682) – 2,546 (18,587) – – – – – – – – 638,980 (21,133) (21,133) 2,546 2,546 – 2,546 (18,587) (1,682) 864 (20,269) (18,587) 618,711 At 31 March 2017 1,201 635,645 452 (18,587) The accompanying notes form an integral part of these financial statements.
FS6 Statements of changes in equity (cont’d) Year ended 31 March 2018 Group At 1 April 2017 Net surplus for the year Other comprehensive income Actuarial gain recognised on provision for pension and medical benefits Net change in fair value of financial assets available-for-sale Net change in fair value of financial assets available-for-sale reclassified to income and expenditure Total other comprehensive income Total comprehensive income Transactions with owner, recognised directly in equity Contributions by owner Issuance of shares Total contributions by owner Info-communications Media Development Authority Financial statements Year ended 31 March 2018 Share capital $’000 Capital account $’000 Fair value reserve (Restricted Funds) $’000 <---------- Accumulated surplus ----------> Restricted Funds $’000 General Fund $’000 Subtotal $’000 Total $’000 1,201 635,645 452 (18,587) – – – – – – 1,700 1,700 – – – – – – – – – – (427) (25) (452) (452) 32,682 180 – – 180 32,862 – – – – – 14,275 – – – – – – – – – – (18,587) 618,711 32,682 32,682 180 – 180 (427) – 180 32,862 (25) (272) 32,410 – – 1,700 1,700 14,275 652,821 FS7 At 31 March 2018 2,901 635,645 The accompanying notes form an integral part of these financial statements.
Statements of changes in equity (cont’d) Year ended 31 March 2018 Authority Capitalisation of net assets transferred on 1 October 2016, date of establishment Net deficit for the period Other comprehensive income Actuarial gain recognised on provision for pension and medical benefits Net change in fair value of financial assets available-for-sale reclassified to income and expenditure Total other comprehensive income Total comprehensive income Info-communications Media Development Authority Financial statements Year ended 31 March 2018 Share capital $’000 Capital account $’000 Fair value reserve (Restricted Funds) $’000 <---------- Accumulated deficit ----------> Restricted Funds $’000 General Fund $’000 Subtotal $’000 Total $’000 1,201 622,452 2,134 – – – – – – – – – – – – (22,088) – 2,546 (1,682) (1,682) (1,682) – 2,546 (19,542) – – – – – – – – 625,787 (22,088) (22,088) 2,546 2,546 – 2,546 (19,542) (1,682) 864 (21,224) (19,542) 604,563 At 31 March 2017 1,201 622,452 452 (19,542) The accompanying notes form an integral part of these financial statements.
FS8 Statements of changes in equity (cont’d) Year ended 31 March 2018 Authority At 1 April 2017 Net surplus for the year Other comprehensive income Actuarial gain recognised on provision for pension and medical benefits Net change in fair value of financial assets available-for-sale Net change in fair value of financial assets available-for-sale reclassified to income and expenditure Total other comprehensive income Total comprehensive income Transactions with owner, recognised directly in equity Contributions by owner Issuance of shares Total contributions by owner At 31 March 2018 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 Share capital $’000 Capital account $’000 Fair value reserve (Restricted Funds) $’000 <---------- Accumulated surplus ----------> Restricted Funds $’000 General Fund $’000 Subtotal $’000 Total $’000 1,201 622,452 452 (19,542) – – – – – – – – – – – – – – (427) (25) (452) (452) 32,113 180 – – 180 32,293 1,700 1,700 2,901 – – 622,452 – – – – – 12,751 The accompanying notes form an integral part of these financial statements.
– – – – – – – – – – (19,542) 604,563 32,113 32,113 180 – 180 (427) – 180 32,293 (25) (272) 31,841 – – 12,751 1,700 1,700 638,104 FS9 Consolidated statement of cash flows Year ended 31 March 2018 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 Group Note Year ended 31 March 2018 $’000 1 October 2016 (date of establishment) to 31 March 2017 $’000 Cash flows from operating activities Deficit before grants Adjustments for: Depreciation and amortisation expenses Gain on divestment of financial assets available-for-sale Gain/(Loss) on financial assets at fair value through profit or loss Interest income Loss on disposal of property, plant and equipment Amortisation of deferred scholarship expenditure in the income and expenditure (Write-back of)/Allowance for impairment for trade and other receivables Amortisation of deferred income in the income and expenditure 4 and 5 21 Changes in: - trade and other receivables - trade and other payables - deferred scholarship expenditure - deferred income - provision for reinstatement of property, plant and equipment - provision for pension and medical benefits - provision for ex-gratia Cash generated from operations Tax paid Payment of pension and medical benefits Net cash from operating activities Cash flows from investing activities Purchases of property, plant and equipment Purchases of intangible assets Proceeds from sale of property, plant and equipment Proceeds from sale of financial assets available-for-sale Purchases of unit
 trusts Proceeds from divestment of unit trusts Interest received Net cash from investing activities Cash flows from financing activities Government grants received Issuance of shares Net cash from financing activities Net increase in cash and cash equivalents Cash and cash equivalents at beginning of the period transferred from MDA and IDA Cash and cash equivalents at beginning of the year Cash and cash equivalents at end of the year/period 13 4 5 16 8 (85,630) (82,181) 7,063 (25) (4,858) (18,267) 51 3,738 (1,682) 2,353 (5,376) 123 1,299 634 (383) (154,170) (254,920) 128 (205,307) (287,570) 108,380 (24,625) (361) 388,065 3,576 815 5 220,935 (18) (3,942) 216,975 (6,155) (3,172) – 336 (24) – 12,774 3,759 97,631 1,700 99,331 246,300 45,935 (976) 327,693 (756) 427 170 331,223 (10) (2,075) 329,138 (3,916) (4,072) 142 2,335 (11) 517,225 7,926 519,629 77,161 – 77,161 320,065 925,928 – 1,121,475 1,441,540 195,547 – 1,121,475 The accompanying notes form an integral part of these financial statements.
FS10 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 Notes to the financial statements These notes form an integral part of and should be read in conjunction with the accompanying financial statements.

The financial statements were authorised for issue by the Board on 17 July 2018.
1 Domicile and activities Info-communications Media Development Authority (the “Authority”), a statutory board under the Ministry of Communications and Information (“MCI”), was established in The Republic of Singapore under the Info-communications Media Development Authority Act (No.

22 of 2016) on 1 October 2016.


The establishment of the Authority was by way of restructuring of Media Development Authority of Singapore (“MDA”) and Info-communications Development Authority of Singapore (“IDA”) to form Info-communications Media Development Authority (“IMDA”) and Government Technology Agency (“GovTech”).

Pursuant to Part 9 of the Info-communications Media Development Authority Act (No.
22 of 2016), all the business and undertakings and all rights and obligations of MDA and business and undertakings and rights and obligations of certain divisions of IDA were transferred and vested in the Authority on 1 October 2016.

On the date of establishment of the Authority, the assets, liabilities and share capital of MDA and the assets and liabilities of certain divisions of IDA were transferred to the Authority at their book value, with a corresponding amount credited to capital account.
As a statutory board, the Authority is subjected to the control of its supervisory Ministry, MCI, and is required to follow the policies and instructions issued from time to time by MCI and other government ministries and departments such as the Ministry of Finance (“MOF”).

The registered office and principal place of operations of the Authority is located at 10 Pasir Panjang Road, #03-01 Mapletree Business City, Singapore 117438.
The Authority has the following functions: (a) (b) (c) to promote the efficiency, competitiveness (including internationally) and development of the information, communications and media industry in Singapore; to promote and maintain fair and efficient market conduct and effective competition between persons engaged in commercial activities in connection with media services or telecommunication systems and services in Singapore or, in the absence of a competitive market, to prevent the misuse of monopoly or market power; to regulate the provision and use of telecommunication systems, and equipment and software in connection with such systems, and telecommunication services, in Singapore, including by — FS11 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 (i) ensuring that telecommunication services are reasonably accessible to all persons in Singapore and are supplied as efficiently and economically as practicable and at performance standards that reasonably meet the social, industrial and commercial needs of Singapore; and (ii) determining or approving prices, tariffs and charges for the provision of telecommunication systems and services; (d) to regulate the provision and use of media services, and equipment and facilities used in connection with media services, in Singapore, including by — (i) (ii) facilitating the provision of an adequate range of media services that serves the interests of the general public; ensuring that media services are provided at a high standard in all respects, particularly in respect of the quality, balance and range of subject matter of their content; and (iii) ensuring that the content of media services is not against public interest, public order or national harmony, and does not offend against good taste or decency; to promote the use of the Internet and electronic commerce in Singapore and to establish regulatory frameworks for that purpose; to regulate and manage domain names of Internet websites in Singapore; to promote the use of
 information and communications technology in Singapore and, where necessary, to collaborate with the Government Technology Agency (established by section 3 of the Government Technology Agency Act 2016) in respect of that; (e) (f) (g) (h) to promote, where suitable, self-regulation in the information, communications and media industry in Singapore; (i) (j) (k) (l) to advise the Government on matters relating to the information, communications and media industry and the functions of the Authority; to represent Singapore and advance Singapore’s interest internationally in matters relating to the information, communications and media industry; to promote research and development into technological matters relating to the information, communications and media industry; to promote and set standards for the training, and the upgrading of the competencies, of persons for the purposes of the information, communications and media industry in Singapore; (m) to provide consultancy services in or outside Singapore relating to the information, communications and media industry; (n) to perform such other functions as may be conferred on the Authority by any other act, including being designated as the Personal Data Protection Commission responsible for the administration of the Personal Data Protection Act 2012.
FS12 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 2 2.1 Basis of preparation Statements of compliance The financial statements have been prepared in accordance with the provisions of the Info- communications Media Development Authority Act (No.

22 of 2016) and Statutory Board Financial Reporting Standards (“SB-FRS”), including Interpretations of SB-FRS (“INT SB- FRS”) and SB-FRS Guidance Notes as promulgated by the Accountant-General.
2.2 Basis of measurement The financial statements have been prepared on the historical cost basis except as otherwise described in the notes below.

2.3 Functional and presentation currency These financial statements are presented in Singapore dollars, which is the Authority’s functional currency.

All financial information presented in Singapore dollars have been rounded to the nearest thousand, unless otherwise stated.
2.4 Use of estimates and judgements The preparation of the financial statements in conformity with SB-FRSs requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses.

Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis.
Revisions to accounting estimates are recognised in the period in which the estimates are revised and in any future periods affected.

Information about critical judgements in applying accounting policies that have the most significant effect on the amounts recognised in the financial statements relate to the classification of investments at fair value through profit or loss and available-for-sale investments, and are disclosed in Note 3.3.
Information about assumptions and estimation uncertainties that have a significant risk of resulting in a material adjustment within the next financial period are as follows: Provision for pension and medical benefits Provision for pension and medical benefits is estimated by management based on the most recent valuation by professional actuaries.

Changes to assumptions and estimates used in the valuation would result in changes to the provision for pension and medical benefits amounts estimated.
FS13 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 Valuation of investments The determination of fair value for financial assets for which there are no observable market price requires the use of valuation techniques as described in Note 28.
For financial instruments that trade infrequently and have little price transparency, fair value is less objective and requires varying degrees of judgement depending on liquidity, concentration, uncertainty of market factors, pricing assumptions and other risks affecting the specific instrument.
Deferred benefits on contribution to Consolidated Fund Deferred benefits have not been recognised on unutilised deficits carried forward as the Authority expects to continue to be in operating deficit, excluding any investment income and fair value gains or losses from its financial assets held at fair value through profit or loss.
Management believes that the probability of utilising the carried forward deficits is dependent on market performance and does not expect significant gains in its investments and financial assets held at fair value through profit or loss to fully offset the unutilised deficits.

Accordingly, the Authority has not recognised any deferred benefits for contribution to Consolidated Fund.
Licence fees Licence fees are billed in advance based on a percentage of the licences’ total qualifying income or annual gross turnover.

The licence fees are recognised evenly over the licence period and are subsequently adjusted based on the latest available information.

Changes to the estimates used in the determination of licence fee would result in changes to the licence fee revenue recognised for the financial year.
2.5 Changes in accounting policies On 1 April 2017, the Group has adopted all the new and revised SB-FRSs, INT SB-FRSs and Guidance Notes that are mandatory for application on that date.

The adoption of these new or revised SB-FRSs, INT SB-FRSs and Guidance Notes does not have any significant impact on the financial statements.
3 Significant accounting policies The accounting policies set out below have been applied consistently to all periods presented in these financial statements, except as explained in Note 2.5, which addresses the changes in accounting policies.

3.1 Basis of consolidation Subsidiaries Subsidiaries are entities controlled by the Group.
The Group controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity.

The financial statements of the subsidiary are included in the consolidated financial statements from the date that control commences until the date that control ceases.
FS14 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 The accounting policies of the subsidiary have been changed when necessary to align them with the policies adopted by the Group.

Transactions eliminated on consolidation Intra-group balances and transactions, and any unrealised income and expenses arising from intra- group transactions, are eliminated in preparing the consolidated financial statements.
3.2 Foreign currency Foreign currency transactions Transactions in foreign currencies are translated to the functional currencies of the Group entities at exchange rates at the dates of the transactions.

Monetary assets and liabilities denominated in foreign currencies at the reporting date are translated to the functional currency at the exchange rate at that date.
The foreign currency gain or loss on monetary items is the difference between amortised cost in the functional currency at the beginning of the year, adjusted for effective interest and payments during the year, and the amortised cost in foreign currency translated at the exchange rate at the end of the year.
Non-monetary assets and liabilities denominated in foreign currencies that are measured at fair value are translated to the functional currency at the exchange rate at the date that the fair value was determined.

Non-monetary items in a foreign currency that are measured in terms of historical cost are translated using the exchange rate at the date of the transaction.
Foreign currency differences arising on translation are recognised in income or expenditure, except for the following differences which are recognised in other comprehensive income arising on the translation of available-for-sale equity instruments (except on impairment in which case foreign currency differences that have been recognised in other comprehensive income are reclassified to income or expenditure).
3.3 (i) Financial instruments Non-derivative financial assets The Group initially recognises loans and receivables on the date that they are originated.

All other financial assets (including assets designated at fair value through profit or loss) are recognised initially on the trade date, which is the date that the Group becomes a party to the contractual provisions of the instrument.
The Group derecognises a financial asset when the contractual rights to the cash flows from the asset expire, or it transfers the rights to receive the contractual cash flows on the financial asset in a transaction in which substantially all the risks and rewards of ownership of the financial asset are transferred, or it neither transfers nor retains substantially all of the risks and rewards of ownership and does not retain control over the transferred asset.
Any interest in transferred financial assets that is created or retained by the Group is recognised as a separate asset or liability.

Financial assets and liabilities are offset and the net amount presented in the statements of financial position when, and only when, the Group has a legal right to offset the amounts and intends either to settle on a net basis or to realise the asset and settle the liability simultaneously.
The Group classifies non-derivative financial assets into the following categories: financial assets at fair value through profit or loss, loans and receivables and available-for-sale financial assets.
FS15 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 Financial assets at fair value through profit or loss A financial asset is classified at fair value through profit or loss if it is classified as held for trading or is designated as such upon initial recognition.
Financial assets are designated at fair value through profit or loss if the Group manages and evaluates the performance of such investments based on their fair value in accordance with the Group’s documented risk management or investment strategy.

Attributable transaction costs are recognised in income or expenditure as incurred.
Financial assets at fair value through profit or loss are measured at fair value, and changes therein, which takes into account any dividend income, are recognised in income and expenditure.

Financial assets designated at fair value through profit or loss comprise unit trusts.

Loans and receivables Loans and receivables are financial assets with fixed or determinable payments that are not quoted in an active market.
Such assets are initially measured at fair value plus any directly attributable transaction costs.

Subsequent to initial recognition, loans and receivables are measured at amortised cost using the effective interest method, less any impairment losses.

Loans and receivables comprise cash and cash equivalents, trade and other receivables (excluding prepayments) and amount due from a subsidiary.
Cash and cash equivalents Cash and cash equivalents comprise cash held with Accountant-General’s Department (“AGD”).

Available-for-sale financial assets Available-for-sale financial assets are non-derivative financial assets that are designated as available for sale or are not classified in any of the above categories of financial assets.

Available- for-sale financial assets are initially measured at fair value plus any directly attributable transaction costs.
Subsequent to initial recognition, they are measured at fair value and changes therein, other than impairment losses and foreign currency differences on available-for-sale debt instruments (see Note 3.2), are recognised in other comprehensive income and presented in the fair value reserve in equity.

When an investment is derecognised, the gain or loss accumulated in equity is reclassified to income or expenditure.
Investments in equity instruments that do not have a quoted market price in an active market and whose fair value cannot be reliably measured and derivatives that are linked to and must be settled by delivery of such unquoted equity instruments are measured at cost.

Financial assets available-for-sale comprise investment in media funds.

The Group designated available-for-sale investments for long term investments in media funds with an expected investment period of 10 years.
The financial assets are presented as non-current unless management intends to dispose the assets within 12 months after the reporting date.
FS16 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 (ii) Non-derivative financial liabilities Financial liabilities (including liabilities designated at fair value through profit or loss) are recognised initially on the trade date, which is the date that the Group becomes a party to the contractual provisions of the instrument.

The Group derecognises a financial liability when its contractual obligations are discharged, cancelled or expired.
Financial assets and liabilities are offset and the net amount presented in the statements of financial position when, and only when, the Group has a legally enforceable right to offset the amounts and intends either to settle on a net basis or to realise the asset and settle the liability simultaneously.

The Group’s other non-derivative financial liabilities are classified as other financial liabilities.
Other non-derivative financial liabilities are initially measured at fair value less any directly attributable transaction costs.

Subsequent to initial recognition, these financial liabilities are measured at amortised cost using the effective interest method.

These financial liabilities comprise trade and other payables and amount due to a subsidiary.
3.4 Property, plant and equipment Items of property, plant and equipment are measured at cost less accumulated depreciation and accumulated impairment losses.

Cost includes expenditure that is directly attributable to the acquisition of the asset.
The cost of self-constructed assets includes: the cost of materials and direct labour; • • any other costs directly attributable to bringing the assets to a working condition for their intended use; • when the Group has an obligation to remove the asset or restore the site, an estimate of the costs of dismantling and removing the items and restoring the site on which they are located; and • capitalised borrowing costs.
The gain or loss on disposal of an item of property, plant and equipment (calculated as the difference between the net proceeds from disposal and the carrying amount of the item) is recognised in income or expenditure.

The cost of replacing a component of an item of property, plant and equipment is recognised in the carrying amount of the item if it is probable that the future economic benefits embodied within the component will flow to the Group, and its cost can be measured reliably.
The carrying amount of the replaced component is derecognised.

The costs of the day-to-day servicing of property, plant and equipment are recognised in income or expenditure as incurred.

Depreciation is based on the cost of an asset less its residual value.

Significant components of individual assets are assessed and if a component has a useful life that is different from the remainder of that asset, that component is depreciated separately.
FS17 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 Depreciation is recognised as an expense in income or expenditure on a straight-line basis over the estimated useful lives of each component of an item of property, plant and equipment, unless it is included in the carrying amount of another asset, and is recognised from the date that the property, plant and equipment are installed and are ready for use.

Assets under construction are not depreciated.


The estimated useful lives are as follows: Vehicles Furniture, fittings and equipment Computers Leasehold improvements Building 5 years 5 years 3 years Over the remaining lease period 50 years Depreciation methods, useful lives and residual values are reviewed at the end of each reporting period and adjusted if appropriate.
3.5 Intangible assets Computer systems including software development costs are capitalised on the basis of the costs incurred to bring to use or develop the specific system.

Direct expenditures including employee costs, which enhances or extends the performance of computer or application system beyond its specifications and which can be reliably measured, is added to the original cost of the system.

Costs associated with maintaining the computer system are recognised as expenses when incurred.
Computer systems are measured at cost less accumulated amortisation and accumulated impairment losses.

These costs less residual values, are amortised and recognised to income or expenditure using the straight-line method over their estimated useful lives of 3 years.

In respect of internally constructed intangible assets, amortisation is recognised from the date that the asset is completed and ready for use.

Systems under development are not amortised.


The amortisation period and amortisation method of intangible assets are reviewed at least at each reporting date.

3.6 (i) Impairment Non-derivative financial assets A financial asset not carried at fair value through profit or loss is assessed at the end of each reporting period to determine whether there is objective evidence that it is impaired.
A financial asset is impaired if objective evidence indicates that a loss event has occurred after the initial recognition of the asset, and that the loss event has an effect on the estimated future cash flows of that asset that can be estimated reliably.
FS18 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 Objective evidence that financial assets (including equity securities) are impaired can include default or delinquency by a debtor, restructuring of an amount due to the Group on terms that the Group would not consider otherwise, indications that a debtor or issuer will enter bankruptcy, adverse changes in the payment status of borrowers or issuers, economic conditions that correlate with defaults or the disappearance of an active market for a security.
In addition, for an investment in an equity security, a significant or prolonged decline in its fair value below its cost is objective evidence of impairment.

Loans and receivables The Group considers evidence of impairment for loans and receivables at both a specific asset and collective level.

All individually significant loans and receivables are assessed for specific impairment.
All individually significant receivables found not to be specifically impaired are then collectively assessed for any impairment that has been incurred but not yet identified.

Loans and receivables that are not individually significant are collectively assessed for impairment by grouping together loans and receivables with similar risk characteristics.
In assessing collective impairment, the Group uses historical trends of the probability of default, the timing of recoveries and the amount of loss incurred, adjusted for management’s judgement as to whether current economic and credit conditions are such that the actual losses are likely to be greater or less than suggested by historical trends.
An impairment loss in respect of a financial asset measured at amortised cost is calculated as the difference between its carrying amount and the present value of the estimated future cash flows, discounted at the asset’s original effective interest rate.

Losses are recognised in income or expenditure and reflected in an allowance account against loans and receivables.

Interest on the impaired asset continues to be recognised.
When the Group considers that there are no realistic prospects of recovery of the asset, the relevant amounts are written off.

If the amount of impairment loss subsequently decreases and the decrease can be related objectively to an event occurring after the impairment was recognised, then the previously recognised impairment loss is reversed through income or expenditure.
Financial assets available-for-sale Impairment losses on financial assets available-for-sale are recognised by reclassifying the losses accumulated in the fair value reserve in equity to income or expenditure.

The cumulative loss that is reclassified from equity to income or expenditure is the difference between the acquisition cost, net of any principal repayment and amortisation, and the current fair value, less any impairment loss recognised previously in income or expenditure.
Changes in cumulative impairment provisions attributable to application of the effective interest method are reflected as a component of interest income.

If, in a subsequent period, the fair value of an impaired available-for-sale debt security increases and the increase can be related objectively to an event occurring after the impairment loss was recognised, then the impairment loss is reversed.

The amount of the reversal is recognised in income or expenditure.
However, any subsequent recovery in the fair value of an impaired available-for-sale equity security is recognised in other comprehensive income.

FS19 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 (ii) Non-financial assets The carrying amounts of the Group’s non-financial assets are reviewed at each reporting date to determine whether there is any indication of impairment.

If any such indication exists, then the asset’s recoverable amount is estimated.
For intangible assets that are not yet available for use, the recoverable amount is estimated each year at the same time.

An impairment loss is recognised if the carrying amount of an asset or its related cash-generating unit (“CGU”) exceeds its estimated recoverable amount.

The recoverable amount of an asset or CGU is the greater of its value in use and its fair value less costs to sell.
In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset or CGU.

For the purpose of impairment testing, assets that cannot be tested individually are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or CGUs.
Impairment losses are recognised in income or expenditure.

Impairment losses recognised in respect of CGUs are allocated to reduce the carrying amounts of the other assets in the CGU (group of CGUs) on a pro rata basis.

Impairment losses recognised in prior periods are assessed at each reporting date for any indications that the loss has decreased or no longer exists.

An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount.
An impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortisation, if no impairment loss had been recognised.

3.7 Deferred scholarship expenditure Expenditure incurred in providing scholarships is capitalised and stated at cost less accumulated amortisation.
Amortisation is calculated on a straight-line basis to write off the cost over the period of the scholarship bond from 1 to 6 years commencing from the year that the scholars commence employment with the Group.

3.8 (i) Employee benefits Defined contribution plans A defined contribution plan is a post-employment benefit plan under which an entity pays fixed contributions into a separate entity and will have no legal or constructive obligation to pay further amounts.
Obligations for contributions to defined contribution pension plans are recognised as an employee benefit expense in income or expenditure in the periods during which related services are rendered by employees.

Contributions on the employees’ salaries are made to the Central Provident Fund (“CPF”) as required by law.

CPF contributions are recognised as employee compensation expenses in the period when the employees rendered their services.
FS20 (ii) Defined benefit plans Info-communications Media Development Authority Financial statements Year ended 31 March 2018 The Group operates a defined benefit pension plan that provides certain post-employment pension benefits for eligible employees.

A defined benefit plan is a post-employment benefit plan other than a defined contribution plan.
The Group’s net obligation in respect of defined benefit pension plans is calculated separately for each plan by estimating the future benefit that the employees have earned in return for their service in the current and prior periods; that benefit is discounted to determine its present value.

The fair value of any plan assets is deducted.


The Group determines the net interest expense (income) on the net defined benefit liability (asset) for the period by applying the discount rate used to measure the defined benefit obligation at the beginning of the period to the net defined benefit liability (asset).
The discount rate is the yield of the Singapore government bond rate that has maturity dates approximating the terms of the Authority’s obligations and that are denominated in the same currency in which the benefits are expected to be paid.

The calculation is performed annually by a qualified actuary using the projected unit credit method.

Under the method, a “projected accrued benefit” is calculated for each benefit.
For all active members of the scheme, the “projected accrued benefit” is based on the scheme’s accrual formula and upon service as of the valuation date, but using the employee's scheme salary, projected to the age at which the employee is assumed to leave active service.

For inactive members, it is the total benefit.

The defined benefit obligation/project benefit obligation/plan liability is the discounted present value of the “projected accrued benefits”.
The service cost is the corresponding value of benefits earned by active members over the year as a result of one more year of service.

Re-measurements from defined benefit plans comprise actuarial gains and losses, the return on plan assets (excluding interest) and the effect of the asset ceiling (if any, excluding interest).

The Group recognises them immediately in other comprehensive income and all expenses related to defined benefit plans in employee compensation in income or expenditure.
When the benefits of a plan are changed, or when a plan is curtailed, the portion of the changed benefit related to past service by employees, or the gain or loss on curtailment, is recognised immediately in profit or loss when the plan amendment or curtailment occurs.

The Group recognises gains and losses on the settlement of a defined benefit plan when the settlement occurs.
The gain or loss on settlement is the difference between the present value of the defined benefit obligation being settled as determined on the date of settlement and the settlement price, including any plan assets transferred and any payments made directly by the Group in connection with the settlement.
(iii) Termination benefits Termination benefits are recognised as an expense when the Group is committed demonstrably, without realistic possibility of withdrawal, to a formal detailed plan to either terminate employment before the normal retirement date, or to provide termination benefits as a result of an offer made to encourage voluntary redundancy.
Termination benefits for voluntary redundancies are recognised as an expense if the Group has made an offer of voluntary redundancy, it is probable that the offer will be accepted, and the number of acceptances can be estimated reliably.

If benefits are payable more than 12 months after the reporting date, then they are discounted to their present value.
FS21 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 (iv) Short-term employee benefits Short-term employee benefit obligations are measured on an undiscounted basis and are expensed as the related service is provided.
A liability is recognised for the amount expected to be paid under short-term cash bonus if the Authority has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee, and the obligation can be estimated reliably.

(v) Employee leave entitlements Employee entitlements to annual leave are recognised when they accrue to employees.

Accrual is made for the unconsumed leave as a result of services rendered by employees up to the reporting date.
(vi) Provision for ex-gratia payments This amount is provided for payments to be made to former Singapore Broadcasting Corporation (“SBC”) staff transferred from MDA to the Group.

The provision is computed based on the guidelines contained in the Ministry of Finance (Revenue) Circular No.

4/94 dated 10 August 1994.


3.9 Provisions Provisions are recognised if, as a result of a past event, the Group has a present legal or constructive obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation.

Provisions are determined by discounting the expected future cash flows that reflects current market assessments of the time value of money and the risks specific to the liability.
3.10 Share capital Ordinary shares issued in accordance with FCM 26/2008 - Capital Management Framework for Statutory Boards, are classified as equity.

The shares issued are held by the Minister for Finance, incorporated by the Minister for Finance (Establishment) Act.

3.11 Dividends Dividends payable to the Ministry of Finance, the ultimate shareholder, are recognised when the Authority approves the dividends for payment.
3.12 Trust and agency funds Moneys received from the Government of Singapore and other organisations where the Authority is not the owner and beneficiary, are accounted for as trust and agency funds.

The total net assets and liabilities of the trust and agency funds of the Authority are shown as a separate line in the statements of financial position.

Trust and agency funds are accounted for on a cash basis.

The receipts and expenditures of these funds are directly taken to the fund accounts.
FS22 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 3.13 Restricted funds These are funds set aside for specific purposes and for which separate disclosure is made as these funds are material and subject to restrictions on the ability of the Authority to distribute or otherwise apply its funds.

The treatment is in accordance with Guidance Note 1 issued by the AGD.

Restricted funds are accounted for on an accrual basis.
3.14 Revenue recognition Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured.

The following recognition criteria must also be met before revenue is recognised: (a) Licence and frequency fees Licence and frequency fees are recognised on the accrual basis over the validity period.

(b) Service fees Service fees are recognised in the period when the services are rendered to customers, net of goods and service tax.
(c) Revenue from completed films Under the Group’s industry development schemes, the share of returns from the marketing and sale of the completed films, television programmes, digital media and publishing projects are recognised as revenue when sold by the production companies to their customers.

(d) Interest income Interest income is accrued on a time-proportion basis by reference to the principal outstanding using the effective interest method.
(e) Unclaimed moneys Unclaimed moneys held by the Authority which are not claimed within 6 years of its receipt are recognised in income or expenditure as “Other income”.

3.15 Government grants Government grants and contributions from other organisations are recognised initially as Grants received in advance at their fair value where there is reasonable assurance that they will be received and the Authority will comply with the conditions associated with the grants and contributions.
Government grants received to meet the Authority’s operating expenditure are recognised in the income or expenditure as income on a systematic basis in the same financial periods when the expenses are recognised.

FS23 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 Government grants utilised for the purchase or the construction of depreciable tangible and intangible assets are recorded in the deferred capital grants account.
The deferred capital grants are amortised to income or expenditure over the period necessary to match the annual depreciation and amortisation charge of these assets purchased with the related grants.

On disposal of these assets, the balance of the related deferred capital grant is recognised in income or expenditure to match the net book value of the assets disposed.

Government grants utilised for investment in financial assets available-for-sale are recorded in the other deferred grants account.
The other deferred grants are amortised to income or expenditure to match the impairment of these financial assets.

On disposal of these financial assets available-for-sale, the balance of the related other deferred grants is recognised in income or expenditure to match any net impairment relating to the disposed investments.
3.16 Operating lease payments (i) When entities within the Group are lessees of an operating lease Where the Group has the use of assets under operating leases, payments made under the leases are recognised in income or expenditure on a straight-line basis over the term of the lease.

Lease incentives received are recognised in income or expenditure as an integral part of the total lease payments made.

Leased assets are not recognised in the Group’s statements of financial position.
(ii) Determining whether an arrangement contains a lease At inception of an arrangement, the Group determines whether such an arrangement is or contains a lease.

This will be the case if the following two criteria are met: • • the fulfilment of the arrangement is dependent on the use of a specified asset or assets; and the arrangement contains a right to use the asset.
At inception or upon reassessment of the arrangement, the Group separates payments and other considerations required by such an arrangement into those for the lease and those for other elements on the basis of their relative fair values.

If the Group concludes for a finance lease that it is impracticable to separate the payments reliably, then an asset and a liability are recognised at an amount equal to the fair value of the underlying asset.
Subsequently, the liability is reduced as payments are made and an imputed finance charge on the liability is recognised using the Group’s incremental borrowing rate.

3.17 Donations Donations, other than those specified below, are recognised in income in the period of receipt.

Property, plant and equipment obtained through donations that can be reliably measured are taken to deferred capital grants at their fair value in the period of receipt.
The deferred capital grants are amortised to income or expenditure over the period necessary to match the annual depreciation and amortisation charge of these assets.

FS24 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 3.18 Contribution to Consolidated Fund The Authority is required to make contributions to the Consolidated Fund in accordance with the Statutory Corporations (Contributions to Consolidation Funds) Act, Chapter 319A.
The provision is based on guidelines specified by the Ministry of Finance.

It is computed based on a percentage pegged at the prevailing corporate tax rate for the period of assessment on the net surplus of the Authority and after deducting prior year’s accumulated deficits in accordance with FCM 5/2005 – Framework for Contribution to Consolidated Fund by Statutory boards.

Contributions are provided for on an accrual basis.
The Authority is allowed to carry forward its deficits to offset its future surplus.

The deficits have no expiry date.

The benefits associated with the deficits are recognised as deferred benefits on Contribution to Consolidated Fund to the extent that realisation of the related benefits through future surplus is probable.
3.19 New standards and interpretations not adopted A number of new standards, amendments to standards and interpretations are effective for annual periods beginning after 1 April 2017, and earlier application is permitted; however, the Group has not early applied the following new standards and interpretations in preparing these statements.

These new standards that may be relevant to the Group in future financial periods, and which the Group does not plan to early adopt, are set out below.
• SB-FRS 109 Financial Instruments replaces most of the existing guidance in SB-FRS 39 Financial Instruments: Recognition and Measurement.

It includes revised guidance on classification and measurement of financial instruments, a new expected credit loss model for calculating impairment on financial assets, and new general hedge accounting requirements.

It also carries forward the guidance on recognition and derecognition of financial instruments from FRS 39.
SB-FRS 109 is mandatory for adoption by the Group for annual periods beginning on or after 1 January 2018, with early adoption permitted.

Retrospective application is generally required, except for hedge accounting.

For hedge accounting, the requirements are generally applied prospectively, with some limited exceptions.

Restatement of comparative information is not mandatory.

If comparative information is not restated, the cumulative effect is recorded in opening equity as at 1 April 2018.
The Group will recognise any difference between the previous carrying amount and the carrying amount at the beginning of the annual reporting period that includes the date of initial application in its opening accumulated surplus.

Overall, the Group does not expect a significant impact on its opening accumulated surplus.
FS25 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 • SB-FRS 115 Revenue from Contracts with Customers establishes a comprehensive framework for determining whether, how much and when revenue is recognised.

It also introduces new cost guidance which requires certain costs of obtaining and fulfilling contracts to be recognised as separate assets when specified criteria are met.
When effective, SB-FRS 115 replaces existing revenue recognition guidance, including SB-FRS 18 Revenue, SB-FRS 11 Construction Contracts, INT SB-FRS 113 Customer Loyalty Programmes, INT SB-FRS 115 Agreements for the Construction of Real Estate, INT SB-FRS 118 Transfers of Assets from Customers and INT SB-FRS 31 Revenue – Barter Transactions Involving Advertising Services.

SB-FRS 115 is effective for annual periods beginning on or after 1 January 2018, with early adoption permitted.
SB-FRS 115 offers a range of transition options including full retrospective adoption where an entity can choose to apply the standard to its historical transactions and retrospectively adjust each comparative period presented in its financial statements.

When applying the full retrospective method, an entity may also elect to use a series of practical expedients to ease transition.
The Group plans to adopt SB-FRS 115 using the modified retrospective approach and the cumulative effect of initially applying this Standard will be recognised as an adjustment to the opening accumulated surplus of the annual reporting period that includes the date of initial application.

The Group is currently in the process of assessing the impact of SB-FRS 115 on the variable consideration relating to license fees earned by the Group.
Apart from this, the Group does not expect the adoption of SB-FRS115 to have a significant impact to the Group’s financial statements.

• SB-FRS 116 Leases eliminates the lessee’s classification of leases as either operating leases or finance leases and introduces a single lessee accounting model.

Applying the new model, a lessee is required to recognise right-of-use (“ROU”) assets and lease liabilities for all leases with a term of more than 12 months, unless the underlying asset is of low value.
SB-FRS 116 substantially carries forward the lessor accounting requirements in SB-FRS 17 Leases.

Accordingly, a lessor continues to classify its leases as operating leases or finance leases, and to account for these two types of leases using the SB-FRS 17 Leases operating lease and finance lease accounting models respectively.

However, SB-FRS 116 requires more extensive disclosures to be provided by a lessor.
When effective, SB-FRS 116 replaces existing lease accounting guidance, including SB-FRS 17 Leases, INT SB-FRS 104 Determining whether an Arrangement contains a Lease, INT SB-FRS 15 Operating Leases – Incentives, and INT SB-FRS 27 Evaluating the Substance of Transactions Involving the Legal Form of a Lease.

SB-FRS 116 Leases is effective for annual periods beginning on or after 1 January 2019, with early adoption permitted if SB-FRS 115 Revenue from Contracts with Customers is also applied.
The Group does not plan to early adopt SB-FRS 116 and is currently assessing the potential impact of this standard on the financial statements of the Group.
FS26 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 4 Property, plant and equipment Furniture, fittings and equipment $’000 Vehicles $’000 Leasehold Computers $’000 improvements Building $’000 $’000 Assets under construction $’000 Total $’000 Group Cost Transferred on establishment of the Group on 1 October 2016 Additions Transfers Disposals At 31 March 2017 At 1 April 2017 Additions Reclassification to intangible assets Disposals At 31 March 2018 824 – – – 824 824 369 – – 1,193 18,520 18 632 – 19,170 19,170 27 – (97) 19,100 14,474 216 189 (3) 14,876 14,876 715 (2,410) (4) 13,177 12,696 649 2,198 (333) 15,210 15,210 3,308 – – 18,518 160 – – – 160 160 – – – 160 263 3,033 (3,019) – 277 277 8,579 (11) – 8,845 46,937 3,916 – (336) 50,517 50,517 12,998 (2,421) (101) 60,993 FS27 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 Furniture, fittings and equipment $’000 Vehicles $’000 Leasehold Computers $’000 improvements Building $’000 $’000 Assets under construction $’000 Total $’000 657 71 – 728 728 86 – – 814 167 96 379 16,930 349 – 17,279 17,279 623 – (46) 17,856 12,860 533 (3) 13,390 13,390 806 (1,984) (4) 12,208 11,568 985 (68) 12,485 12,485 1,986 – – 14,471 1,590 1,891 1,244 1,614 1,486 969 1,128 2,725 4,047 160 – – 160 160 – – – 160 – – – – – – – – – – – – 42,175 1,938 (71) 44,042 44,042 3,501 (1,984) (50) 45,509 263 277 8,845 4,762 6,475 15,484 Group Accumulated depreciation Transferred on establishment of the Group on
 1 October 2016 Depreciation for the period Disposals At 31 March 2017 At 1 April 2017 Depreciation for the year Reclassification to intangible assets Disposals At 31 March 2018 Carrying amounts At 1 October 2016 (date of establishment) At 31 March 2017 At 31 March 2018 FS28 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 Furniture, fittings and equipment $’000 Vehicles $’000 Leasehold Computers $’000 improvements Building $’000 $’000 Assets under construction
 $’000 Total $’000 824 – – – 824 824 369 – 1,193 18,520 18 632 – 19,170 19,170 27 (97) 19,100 11,318 20 108 – 11,446 11,446 699 – 12,145 12,696 649 2,198 (333) 15,210 15,210 3,308 – 18,518 160 – – – 160 160 – – 160 182 3,022 (2,938) – 266 266 8,579 – 8,845 43,700 3,709 – (333) 47,076 47,076 12,982 (97) 59,961 Authority Cost Transferred on establishment of the Authority on 1 October 2016 Additions Transfers Disposals At 31 March 2017 At 1 April 2017 Additions Disposals At 31 March 2018 FS29 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 Furniture, fittings and equipment $’000 Vehicles $’000 Leasehold Computers $’000 improvements Building $’000 $’000 Assets under Construction $’000 Total $’000 657 71 – 728 728 86 – 814 167 96 379 16,930 349 – 17,279 17,279 623 (46) 17,856 1,590 1,891 1,244 10,389 333 – 10,722 10,722 620 – 11,342 11,568 985 (68) 12,485 12,485 1,986 – 14,471 929 724 803 1,128 2,725 4,047 160 – – 160 160 – – 160 – – – – – – – – – – – 39,704 1,738 (68) 41,374 41,374 3,315 (46) 44,643 182 266 8,845 3,996 5,702 15,318 Authority Accumulated depreciation Transferred on establishment of the Authority on 1 October 2016 Depreciation for the period Disposals At 31 March 2017 At 1 April 2017 Depreciation for the year Disposals At 31 March 2018 Carrying amounts At 1 October 2016 (date of establishment) At 31 March 2017 At 31 March 2018 FS30 5 Intangible assets Info-communications Media Development Authority Financial
 statements Year ended 31 March 2018 Computer systems $’000 Systems under development $’000 Total $’000 Group Cost Transferred on establishment of the Group on 1 October 2016 Additions Transfers At 31 March 2017 At 1 April 2017 Additions Reclassification from property, plant and equipment Transfers Disposal At 31 March 2018 Accumulated amortisation Transferred on establishment of the Group on 1 October 2016 Amortisation for the period At 31 March 2017 At 1 April 2017 Amortisation for the year
 Reclassification from property, plant and equipment Disposal At 31 March 2018 Carrying amounts At 1 October 2016 (date of establishment) At 31 March 2017 At 31 March 2018 23,595 1,271 1,630 26,496 26,496 3,140 2,410 1,777 (47) 33,776 19,959 1,800 21,759 21,759 3,562 1,984 (47) 27,258 3,636 4,737 6,518 595 2,801 (1,630) 1,766 1,766 32 11 (1,777) – 32 – – – – – – – – 595 1,766 32 24,190 4,072 – 28,262 28,262 3,172 2,421 – (47) 33,808 19,959 1,800 21,759 21,759 3,562 1,984 (47) 27,258 4,231 6,503 6,550 FS31 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 Computer systems $’000 Systems under development $’000 Total $’000 23,595 1,271 1,630 26,496 26,496 3,089 1,766 (47) 31,304 19,959 1,800 21,759 21,759 3,322 (47) 25,034 3,636 4,737 6,270 595 2,801 (1,630) 1,766 1,766 32 (1,766) – 32 – – – – – – – 595 1,766 32 24,190 4,072 – 28,262 28,262 3,121 – (47) 31,336 19,959 1,800 21,759 21,759 3,322 (47) 25,034 4,231 6,503 6,302 Authority Cost Transferred on establishment of the Authority on 1 October 2016 Additions Transfers At 31 March 2017 At 1 April 2017 Additions Transfers Disposal At 31 March 2018 Accumulated amortisation Transferred on establishment of the Authority on 1 October 2016 Amortisation for the period At 31 March 2017 At 1 April 2017 Amortisation for the year Disposal At 31 March 2018 Carrying amounts At 1 October 2016 (date of establishment) At 31 March 2017 At 31 March 2018 6 Subsidiary Unquoted shares, at cost
 Name of subsidiary Principal activities Authority 2018 $’000 2017 $’000 3,813 3,813 Country of incorporation and operation Effective equity interest held by the Authority Singapore Network Information Centre Private Limited 1 Registry of internet domain names Singapore 1 Audited by KPMG LLP, Singapore 2018 % 100 2017 % 100 FS32 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 7 Available-for-sale financial assets Transferred on establishment of the Group and
 Authority on 1 October 2016 (net of impairment and fair value gain) Net change in fair value of financial assets available-for-sale reclassified to income and expenditure Divestment At 31 March 2017 Net change in fair value of financial assets available-for-sale Net change in fair value of financial assets available-for-sale reclassified to income and expenditure Divestment At 31 March 2018 Group and Authority $’000 3,098 (1,682) (653) 763 (427) (25) (311) – Investment in media funds relates to collaboration with other investors to finance the development of media companies.
These investments last for 10 years and repayment terms vary according to the terms of the agreements.

During the year, the Group fully divested its investment in media funds.
8 Cash and cash equivalents Group Authority Note 2018 $’000 2017 $’000 2018 $’000 2017 $’000 General Fund Restricted Funds Deposits held with Accountant- General’s Department (“AGD”) Deposits held with AGD managed by the Authority on behalf of other ministries 25 19 1,433,541 1,101,635 1,420,336 1,089,438 19,840 1,441,540 1,121,475 1,428,335 1,109,278 19,840 7,999 7,999 1,510,234 1,207,507 1,497,029 1,195,310 (68,694) (86,032) 1,441,540 1,121,475 1,428,335 1,109,278 (86,032) (68,694) The Group participates in the AGD’s Centralised Liquidity Management Scheme (“CLM”) whereby the Group’s cash is pooled together and managed centrally by AGD, a related party, in fixed deposits.
Individual accounts are still maintained for daily transaction purpose and funds are transferred from deposits held with AGD whenever there are insufficient funds for transactional purpose.

AGD pays interest on the Group’s cash balances participating in AGD’s CLM.

The effective interest rate during the year was 1.23% (2017: 1.31%).
Cash and cash equivalents of the Group include an amount of $37,471,000 (2017: $40,778,000) (Note 13) earmarked for payment of pension and medical benefits to pensioners FS33 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 9 Financial assets at fair value through profit or loss Note Group and Authority 2017 2018 $’000 $’000 At 1 April/Transferred on establishment of the Group and Authority on 1 October Addition Divestment Net fair value change recognised in income or expenditure 21 At 31 March Financial assets at fair value through profit or loss - Quoted unit trusts - Unquoted unit trusts 122,551 24 – 4,858 127,433 49,367 78,066 127,433 646,370 11 (517,225) (6,605) 122,551 46,937 75,614 122,551 The unit trusts are in diversified portfolios of various asset classes managed by professional fund managers awarded by AGD under the Demand Aggregation II and III Schemes.
10 Trade and other receivables Group Authority 2018 $’000 2017 $’000 2018 $’000 2017 $’000 Trade receivables Less: Allowance for impairment of trade receivables 7,722 9,036 7,722 9,036 (775) 6,947 (1,158) 7,878 (775) 6,947 (1,158) 7,878 Unbilled receivables 4,667 11,877 4,667 11,877 Other receivables - due from MCI - due from a statutory board - sundry debtors - interest receivable from AGD Advances and deposits Loans and receivables Prepayments 26,181 – 6,313 10,893 55,001 3,341 58,342 1,008 59,350 50,435 73,171 8,264 5,420 157,045 3,719 160,764 1,090 161,854 26,181 – 6,313 10,813 54,921 3,341 58,262 934 59,196 50,435 73,171 8,264 5,320 156,945 3,719 160,664 1,030 161,694 FS34 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 11 Share capital Group and Authority 2018 2017 $’000 Number of shares (’000) $’000 Number of shares (’000) At 1 April/Transferred on establishment of the Group and Authority on 1 October Issuance of shares At 31 March 1,201 1,700 2,901 1,201 1,700 2,901 1,201 – 1,201 1,201 – 1,201 On the establishment of the Group and the Authority on 1 October 2016, share capital of $1,201,000 comprising of 1,201,000 shares was transferred from MDA to the Authority.
During the year, the Authority issued an additional 1,700,000 shares at $1 per share to fund transitional expenses incurred as a result of the restructuring of MDA and IDA to form IMDA and GovTech.

All shares issued are held by the Minister for Finance, incorporated by the Minister for Finance (Incorporation) Act.

The holders of these shares are entitled to receive dividends as and when declared by the Authority.

All shares issued carry no voting rights and have no par value.
12 Capital account The capital account comprises the capitalisation of net assets transferred from the MDA and certain divisions of IDA on 1 October 2016, the date of establishment of the Group and the Authority upon the restructuring of MDA and IDA to form IMDA and GovTech.
13 Provision for pension and medical benefits The provision for pension and medical benefits relates to benefits payable upon retirement of employees from the former Singapore Broadcasting Authority who were transferred to MDA and employees from the former Telecommunications Authority of Singapore who were transferred to IDA.

These employees were transferred to the Group and the Authority from MDA and IDA upon the establishment of the Group and the Authority on 1 October 2016.
The Group no longer provides such benefits to its active employees.

The Group contributes to the following post-employment defined benefit plans: • Pension benefits – The plan provides pension benefits to pensionable employees with at least 10 years of pensionable services.

• Post-retirement benefits – The plan provides its eligible employees and their dependents with post-retirement medical benefits.
FS35 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 The employee benefits plans expose the Group to actuarial risks, such as longevity risk and interest rate risk.

As at 31 March 2018, the Group expects to pay $37,471,000 (2017: $40,778,000) in contributions to its defined benefit plans.
(a) The amount recognised in the statements of financial position is determined as follows: Group and Authority 2017 2018 $’000 $’000 Present value of obligations 37,471 40,778 Comprising: - Current - Non-current 3,806 33,665 37,471 3,952 36,826 40,778 (b) The amounts recognised in income or expenditure as employee compensation are as follows: Current service cost Interest cost Expenses recognised in income or expenditure Group and Authority 2017 2018 $’000 $’000 – 815 815 2 425 427 (c) The amounts recognised in other comprehensive income are as follows: Actuarial gain arising from: Financial assumptions Experience adjustment Group and Authority 2017 2018 $’000 $’000 91 89 180 1,757 789 2,546 (d) Movement in the fair value of pension and medical benefits is as follows: At 1 April/Transferred on establishment of the Group and Authority on 1 October Current service cost Interest cost Actuarial gain recognised in other comprehensive income Benefits paid At 31 March Group and Authority 2017 2018 $’000 $’000 40,778 – 815 (180) (3,942) 37,471 44,972 2 425 (2,546) (2,075) 40,778 FS36 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 The principal assumption used in determining the Group and Authority’s pension obligations is: Discount rate Group and Authority 2017 2018 2.20% 2.10% The discount rate used is based on the interpolated yield rate of Singapore Government Bond with duration of 8 years (2017: 8 years), which is the weighted duration of future benefit payments.
The Singapore Mortality Table S2004-08M/F was used for purpose of the latest valuation of pension liabilities.

Sensitivity analysis The calculation of the defined benefit obligation is sensitive to the assumption set out above.

The following table summarises how the impact on the defined benefit obligation at the end of the reporting period would have increased/(decreased) as a result of a change in the assumption by 0.25 percent.
Group and Authority 31 March 2018 Discount rate 31 March 2017 Discount rate Defined benefit obligation 0.25 percent 0.25 percent decrease increase $’000 $’000 (619) 638 (709) 731 The above sensitivities are based on the average duration of the benefit obligation determined at the date of the last full actuarial valuation at 31 March 2018 and are applied to adjust the defined benefit obligation at the end of the reporting period for the assumptions concerned.
Whilst the analysis does not take account of the full distribution of cash flows expected under the plan, it does provide an approximation to the sensitivity of the assumptions shown.
14 Trade and other payables Trade and other payables Accrued operating expenses Accrued development expenses Accrued payroll related costs Deposits received Group 2018 $’000 2017 $’000 Authority 2018 $’000 2017 $’000 31,091 16,780 9,325 34,416 1,001 92,613 24,682 25,100 26,885 32,337 1,391 110,395 30,594 16,074 9,325 34,416 1,001 91,410 24,698 24,787 26,885 32,040 1,036 109,446 FS37 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 15 Deferred income Deferred income mainly comprises license and related fees that will be recognised in income or expenditure over the remaining period of the licence, which occurs subsequent to year end.
Deferred income is presented in the statement of financial position as non-current.

However, amounts to be recognised in income or expenditure within 12 months after the reporting date are presented as current.
16 Grants received in advance Note General Fund 2017 2018 $’000 $’000 Restricted Funds Total 2018 $’000 2017 $’000 2018 $’000 2017 $’000 Group and Authority At 1 April/Transferred on establishment of the Group and Authority on 1 October - grants received in advance - grants receivables Received during the year Transfer to deferred capital grants 17 Transfer from other deferred grants 18 Transfer to income or expenditure - government grants At 31 March 37,853 – 37,853 33,740 – 33,740 6,392 – 6,392 44,245 8,910 (10,577) – (1,667) 44,245 42,650 (10,577) 32,073 51,062 (7,616) – 33,395 (3,438) – 46,569 (530) 311 43,766 (3,188) 653 97,631 (8,146) 311 77,161 (6,626) 653 (67,078) (25,844) (45,227) (33,172) (112,305) (59,016) 44,245 14,221 21,736 37,853 7,515 6,392 Included in $112,305,000 (2017: $59,016,000) recognised in income or expenditure as “Government grants” is an amount of $16,327,000 (2017: $Nil) relating to past years’ surpluses for a scheme which was completed during the year.
Clarifications had been sought from the supervisory ministry during the year, and as a result, these past surpluses were recognised in income or expenditure.

Accordingly, the Group transferred this amount to income or expenditure as “Government grants”.
17 Deferred capital grants Group and Authority At 1 April/Transferred on establishment of the Group and Authority on 1 October Transfer from grants received in Note General Fund 2017 2018 $’000 $’000 Restricted Funds Total 2018 $’000 2017 $’000 2018 $’000 2017 $’000 7,580 5,696 2,600 10 10,180 5,706 advance 16 7,616 3,438 530 3,188 8,146 6,626 Transfer to income or expenditure - deferred capital grants amortised At 31 March (4,811) 10,385 (1,554) 7,580 (1,500) 1,630 (598) 2,600 (6,311) 12,015 (2,152) 10,180 FS38 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 18 Other deferred grants Restricted Funds Note 2018 $’000 2017 $’000 Group and Authority At 1 April/Transferred on establishment of the Group and Authority on 1 October Transfer to grants received in advance At 31 March 16 311 (311) – 964 (653) 311 19 Trust and agency funds Details of the trust and agency funds are set out below and have been prepared from the records of these funds and reflect only transactions handled by the Group: The receipts and expenditure for the financial year are taken directly to the funds’ accounts, and the net assets of these funds at the reporting date are as follows: Public Service Broadcast SMEs Go Digital Others Group and Authority 2017 2018 $’000 $’000 (2,820) 15,038 12,136 24,354 82,261 – 8,446 90,707 PSB 2018 $’000 2017 $’000 SMEs Go Digital 2017 2018 $’000 $’000 Others Total 2018 $’000 2017 $’000 2018 $’000 2017 $’000 Group and Authority At 1 April/Transferred on
 establishment of the Group and Authority on 1 October Government grants received Deferred capital grants Less: Funds utilised in the 82,261 75,319 – 257,561 – 58,593 – 15,038 – year/period At 31 March (342,642) (2,820) (51,651) 82,261 – 15,038 Represented by: Cash and cash equivalents Other assets Current liabilities Net (liabilities)/assets – – (2,820) (2,820) 77,233 24,937 (19,909) 82,261 15,038 – – 15,038 – – – – – – – – – 8,446 5,752 90,707 81,071 50,848 – 12,987 12 323,447 – 71,580 12 (47,158) 12,136 (10,305) (389,800) 24,354 8,446 (61,956) 90,707 53,656 – (41,520) 12,136 8,799 136 (489) 8,446 68,694 – (44,340) 24,354 86,032 25,073 (20,398) 90,707 FS39 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 Public Service Broadcast (“PSB”) PSB supports programmes that promote social objectives and national harmony as well as serve the interests of television viewers.
Hence, broadcasters in Singapore are required to carry these programmes as specified in their licences.

Being commercially less viable, there is a need to support these programmes through public service programming funding.

SMEs Go Digital – Capability Development (“SMEs Go Digital”) SMEs Go Digital aims to help Small Medium Enterprises (“SMEs”) build stronger digital capabilities to seize the opportunities for growth in the digital economy.
Others The following trust and agency funds are included in “Others”: • Smart Systems Strategic Research Programme is a programme under Research, Innovation and Enterprise 2020 that was established to build upon the Interactive Digital Media Strategic Research Programme by ensuring translation of research and development outputs and the development of info-communications and technology capabilities.
• Wireless@SG aims to catalyse the mobile broadband market and encourage a broadband lifestyle amongst citizens.

• Increase SME Productivity with Infocomm Adoption & Transformation aims to help SMEs use technology to enhance their productivity and growth by increasing the rate of adoption and raising SMEs’ info-communications capabilities.
20 Other income Group Authority 1 October 2016 (date of establishment) to 31 March 2017 $’000 Year ended 31 March 2018 $’000 1 October 2016 (date of establishment) to 31 March 2017 $’000 Year ended 31 March 2018 $’000 Subscription fees refunded Unclaimed moneys Dividend from a subsidiary Others – 1,960 – 2,867 4,827 1,185 60 – 104 1,349 – 1,960 1,258 2,943 6,161 1,185 60 – 161 1,406 FS40 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 21 Net gain/(loss) on financial assets at fair value through profit or loss Group and Authority 1 October 2016 (date of establishment) to 31 March 2017 $’000 Year ended 31 March 2018 $’000 4,858 – 4,858 (6,605) 4,252 (2,353) Note 9 Net fair value change recognised in income or expenditure Less: Fair value loss recoverable from GovTech In the prior period, the Group was entitled to recover $4,252,000 from GovTech relating to the fair value loss from divestment of financial assets at fair value through profit and loss which was transferred to the Group from IDA upon the restructuring of MDA and IDA to form IMDA and GovTech based on the agreed allocation of assets, liabilities and equity as at 30 September 2016 between IMDA and GovTech.
22 Employee compensation Group Authority Year ended 31 March 2018 $’000 Note 1 October 2016 (date of establishment) to 31 March 2017 $’000 Year ended 31 March 2018 $’000 1 October 2016 (date of establishment) to 31 March 2017 $’000 102,815 49,848 101,223 49,036 12,319 5,551 12,169 5,475 13 815 2,718 118,667 427 636 56,462 815 2,718 116,925 427 636 55,574 Wages and salaries Employer’s contribution to Central Provident Fund Pension and medical benefits Other benefits FS41 23 Development expenses Info-communications Media Development Authority Financial statements Year ended 31 March 2018 General Fund 2017 2018 $’000 $’000 Restricted Funds 2017 2018 $’000 $’000 Total 2018 $’000 2017 $’000 Group and Authority Digital Economy Framework for Action Intelligent Nation 2015 Masterplan DTV Assistance Scheme Singapore Media Fusion Plan Fibre Ready Scheme Next Generation National Broadband Network Others Write-back of accruals – – 27,513 9,816 27,513 9,816 10,184 12,234 6,125 – 4,656 9,215 4,205 – 6,454 – – 4,919 – 5,351 (5,835) 28,059 – 2,892 – 20,968 2,365 – (2,647) 38,604 11,746 – 653 1,576 8,426 – – 32,217 16,638 12,234 6,125 4,919 2,365 5,351 (8,482) 66,663 16,402 9,215 4,858 1,576 8,426 2,892 – 53,185 The write-back of accruals of $8,482,000 (2017: $Nil) was due to a change in estimates during the year.
Digital Economy Framework for Action (formerly Infocomm Media 2025) The Digital Economy Framework for Action identifies and focuses on key priority areas to grow Singapore’s digital economy and achieve Singapore’s goal to be a leading digital economy which continually reinvents itself.
Intelligent Nation 2015 Masterplan (“iN2015”) iN2015 is Singapore’s long-term strategic info-communications master plan to further enhance quality of life and create new national competitive advantage through infocommunications.

The plan seeks to enrich the lives of the people, enhance Singapore’s economic competitiveness and increase the growth of the info-communications industry.
Digital Television Assistance Scheme (“DTV”) DTV Assistance Scheme was implemented to help low-income households make the switch to digital TV so that they can continue to watch their favourite free-to-air TV programmes.

Singapore Media Fusion Plan (“SMFP”) SMFP’s objective is to strengthen the building blocks of the media ecosystem and support the creation of innovative content, applications and services with global appeal.
Fibre Ready Scheme Fibre Ready Scheme will subsidise a one-time installation of infrastructure that will provide open access to ultra-high speed fibre broadband to 100% of tenants in a non-residential building.

FS42 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 Next Generation National Broadband Network (“Next Gen NBN”) Next Gen NBN is a next generation national digital communication network.
The Next Gen NBN will entrench Singapore’s Infocomm hub status and open the doors to new economic opportunities, business growth and social vibrancy for the country.

The Next Gen NBN will offer pervasive, competitively priced, ultra-high broadband speeds of 1 Gbps and beyond.

24 Provision for contribution to Consolidated Fund The contribution to the Consolidated Fund is based on 17% of the net surplus of the Authority.
Following the restructuring of the MDA and IDA, the net deficit position of $100,567,000 from MDA was brought forward to the Authority on 1 October 2016.

With net surplus of $32,113,000 (2017: deficit of $22,088,000) recognised in the current year, the Authority has remaining unrecognised deficits of $90,542,000 (2017: $122,655,000) at the reporting date which can be carried forward and used to offset against future net surplus before contributions are made to the Consolidated Fund.
25 Net assets of Restricted Funds Property, plant and equipment Available-for-sale financial assets Non-current assets Cash and cash equivalents Trade and other receivables Current assets Total assets Trade and other payables Grants received in advance Deferred capital grants Other deferred grants Current liabilities Total liabilities Net assets Note Group and Authority 2017 2018 $’000 $’000 8 16 17 18 1,629 – 1,629 7,999 4,810 12,809 14,438 5,293 7,515 1,630 – 14,438 14,438 2,600 763 3,363 19,840 1,216 21,056 24,419 15,116 6,392 2,600 311 24,419 24,419 – – FS43 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 26 (a) Commitments Capital commitments Capital expenditures contracted for at the reporting date but not recognised in the financial statements are as follows: Group and Authority 2017 2018 $’000 $’000 Property, plant and equipment 1,333 2,217 (b) Non-cancellable operating lease commitments The Group leases office premises under non-cancellable operating lease agreements.
The leases have varying terms, escalation clauses and renewal rights.
The future minimum lease payable under non-cancellable operating leases contracted with another statutory board at the reporting date but not recognised as liabilities, are as follows: Not later than one year Between one and five years More than five years (c) Restricted Funds Commitments for Restricted Funds at reporting date are as follows: Group and Authority 2017 2018 $’000 $’000 11,934 33,896 25,909 71,739 2,462 724 – 3,186 Group and Authority 2017 2018 $’000 $’000 Amount committed but yet to be disbursed 89,408 55,030 (d) Financial assets available-for-sale Commitments for financial assets available-for-sale managed by fund managers at reporting date are as follows: Group and Authority 2017 2018 $’000 $’000 Amount committed but yet to be disbursed – 2,057 FS44 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 27 Related party transactions For the purpose of these financial statements, parties are considered to be related to the Authority if the Authority has the ability, directly or indirectly, to control the party or exercise significant influence over the party in making financial and operating decisions, or vice versa, or where the Authority and the party are subject to common control or common significant influence.
Related parties may be individuals or other entities.

(a) Significant related party transactions Some of the Authority’s transactions and arrangements are with related parties and the effect of these transactions and arrangements between the parties are reflected in these financial statements.

The amount due to a subsidiary relates to funds placed by the subsidiary with the Authority as the Authority manages the funds by investing in debt and equity securities on a pooled basis for up to 5 years.
The outstanding balance due to a subsidiary is unsecured and bears interest at a fixed rate of 2% per annum.

The amount due from a subsidiary mainly relates to recharges of certain expenses from the Authority.

The outstanding balance due from a subsidiary is unsecured, interest-free and repayable on demand.

The remaining balances with related parties are unsecured, interest-free and repayable on demand.
During the financial year, other than disclosed elsewhere in the financial statements, the significant transactions with related parties which were carried out in the normal course of business are as follows: Authority 1 October 2016 (date of establishment) to 31 March 2017 $’000 Year ended 31 March 2018 $’000 MCI Services and expenses Computer and Info-technology related expenses Expenses paid on behalf of MCI (13,372) (2,093) (2,459) (8,079) (2,843) (755) Subsidiary Dividend income Professional service fees income Rental income Other income Recovery of manpower charges Interest expenses 1,258 14 57 57 1,652 (200) – 7 47 13 647 (100) FS45 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 Authority 1 October 2016 (date of establishment) to 31 March 2017 $’000 Year ended 31 March 2018 $’000 Other Ministries and Statutory Boards Services and expenses incurred in relation to other Ministries Services and expenses incurred in relation to other Statutory Boards Computer and Info-technology related expenses Operating lease expense (3,677) (6,125) (14,229) (720) (6,311) (4,710) (309) (2,266) (b) Compensation of key management personnel Key management personnel remuneration is as follows: Group Authority 1 October 2016 (date of establishment) to 31 March 2017 $’000 1 October 2016 (date of establishment) to 31 March 2017 $’000 Year ended 31 March 2018 $’000 Year ended 31 March 2018 $’000 Wages and salaries Employer’s contribution to Central Provident Fund Board members’
 allowances 4,818 247 305 5,370 2,453 174 172 2,799 4,617 233 305 5,155 2,381 168 172 2,721 28 Financial risk management Overview The Group has exposure to market risk (including currency, price and interest rate risk), credit risk and liquidity risk from its use of financial instruments.
Risk management framework The Group is responsible for setting the objectives and underlying principles of financial risk management for the Group.

The Board then establishes the detailed policies such as exposure limits, risk identification and measurement.

The Group measures actual exposure against the limits set and prepares regular reports for the review of the Board.

The information presented below is based on information received by key management.
FS46 (a) Market risk Info-communications Media Development Authority Financial statements Year ended 31 March 2018 Market risk refers to the risk arising from uncertainty in the future values of a financial instrument, resulting from movements in factors such as equity prices, foreign exchange rates and market interest rates.

The Group’s exposure to each of these factors is presented in the following paragraphs.

Currency risk The Group operates mainly in Singapore.
The Group’s operations are not exposed to significant foreign currency risks as it has no significant transactions denominated in foreign currencies.
Price risk Price risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate arising from changes in market places (other than those arising from interest rate risk or currency risk), whether those changes are caused by factors specific to the individual financial instruments or its issuer, or factors affecting similar financial instruments traded in the market.
The Group is exposed to price risk arising from its investments in fund investments categorised as financial assets at fair value through profit or loss.

The risk is managed through fund diversification across different asset classes in various markets.

The market risk associated with these investments is the potential loss in fair value resulting from the decrease in the net asset value of unit trusts.
Sensitivity analysis A 10% decrease in the underlying market prices or net asset value of unit trusts at the reporting date, with all other variables remain constant, would decrease net surplus or deficit by the following amount: Quoted unit trusts Unquoted unit trusts Group and Authority 2017 2018 $’000 $’000 4,937 7,807 4,694 7,561 A 10% increase in the underlying market prices or net asset value of unit trusts would have had the equal but opposite effect to the amounts shown above, on the basis that all other variables remain constant.
Interest rate risk The Group’s exposure to interest rate risk for changes in interest rates arises primarily from deposits held with AGD.

The Group periodically reviews and monitors interest rate fluctuations to ensure that the exposure to interest rate risk is within acceptable limits.

Surplus funds are placed with AGD.

FS47 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 The table below set out the Group’s exposure to interest rate risks.
Group Authority Note 2018 $’000 2017 $’000 2018 $’000 2017 $’000 Variable rate instrument Deposits held with AGD 8 1,441,540 1,121,475 1,428,335 1,109,278 Cash flow sensitivity analysis for variable rate instruments A change of 100 basis points in interest rates at the reporting date would have increased/(decreased) net surplus or deficit by the amounts shown below.

This analysis assumes that all other variables, in particular foreign currency rates, remain constant.
Group 31 March 2018 Variable rate instruments 31 March 2017 Variable rate instruments Authority 31 March 2018 Variable rate instruments 31 March 2017 Variable rate instruments (b) Credit risk Net surplus or deficit 100bp 100bp decrease increase $’000 $’000 14,415 (14,415) 11,215 (11,215) 14,283 (14,283) 11,093 (11,093) Credit risk refers to the risk that a counterparty will default on its contractual obligation resulting in financial loss to the Group and the Authority.
The carrying amounts of the Group and the Authority’s major classes of financial assets such as cash and cash equivalents, trade and other receivables (excluding prepayments), amount due from a subsidiary, financial assets available- for-sale and financial assets at fair value through profit or loss represents the maximum exposure to credit risk.

Cash and cash equivalents are mainly deposits held with AGD and banks which have high credit- ratings as determined by international credit-rating agencies.
Trade and other receivables that are neither past due nor impaired are substantially entities with good collection track records with the Group.

FS48 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 The Group limits its credit risk exposure in respect of investments by placing its funds only with professional fund managers recommended by an investment consultant or awarded by AGD under the Demand Aggregation II and III Scheme.
The Group and the Authority has no collateral in respect of these investments.

The Group adopts the policy of dealing only with companies of appropriate credit history, and obtaining sufficient security where appropriate to mitigate credit risk.
The ageing of loans and receivables are as follows: Group Not past due Past due less than 3 months Past due 3 to 6 months Authority * Not past due Past due less than 3 months Past due 3 to 6 months Gross 2018 $’000 Impairment loss 2018 $’000 Gross 2017 $’000 Impairment loss 2017 $’000 58,151 203 763 59,117 58,338 203 763 59,304 – (28) (747) (775) – (28) (747) (775) 161,226 675 21 161,922 161,826 675 21 162,522 (1,103) (55) – (1,158) (1,103) (55) – (1,158) * includes amount due from a subsidiary The movement in allowance for impairment loss in respect of loans and receivables during the financial year is as follows: Transferred from establishment of the Group and Authority on 1 April/1 October Charge to income or expenditure Utilised during the year/period Write-back due to monies received At 31 March Group and Authority 2017 2018 $’000 $’000 1,158 – – (383) 775 1,360 128 (330) – 1,158 The impairment in trade and other receivables is due to several debtors who have not paid their outstanding amounts despite reminders.
The Group and the Authority wrote-off the balances which have been assessed as, and deemed uncollectible.

FS49 (c) Liquidity risk Info-communications Media Development Authority Financial statements Year ended 31 March 2018 Liquidity risk is the risk of not being able to meet financial obligations arising from fluctuations in cash flow of financial assets.

The Group and the Authority are not subject to regulatory requirement to maintain minimum cash level.
It is the policy of the Group and the Authority to maintain a level of cash deemed adequate by the management to finance its operations and mitigate the effects of fluctuations in cash flows.

The financial liabilities of the Group and the Authority are presented in the statements of financial position.

The current liabilities are non-interest bearing and repayable within one year from the end of the reporting period.
The financial assets of the Group and the Authority are able to meet these financial obligations.
The following are the contractual maturities of financial liabilities of the Group and Authority including estimated interest payments and excluding the impact of netting arrangements: Carrying amount $’000 Contractual cash flows $’000 Cash flows Within a year $’000 Between one to five years $’000 Group 2018 Trade and other payables 2017 Trade and other payables Authority 2018 Trade and other payables Amount due to a subsidiary 2017 Trade and other payables Amount due to a subsidiary 92,613 92,613 92,613 110,395 110,395 110,395 91,410 10,000 101,410 109,446 10,000 119,446 91,410 10,220 101,630 109,446 10,200 119,646 91,410 6,200 97,610 109,446 – 109,446 – – – 4,020 4,020 – 10,200 10,200 It is not expected that the cash flows included in the maturity analysis could occur significantly earlier, or at significantly different amounts.
FS50 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 (d) Capital management The Group and the Authority manage its capital to ensure that the Group and the Authority will continue as going concern.

The capital structure of the Group and the Authority comprise only equity as reflected in the statements of changes in equity.

The Group and the Authority review its capital structure periodically.
As part of this review, the cost of capital and associated risks are considered.

The Authority is not subject to any capital requirements under the Info-communications Media Development Authority Act (No.

22 of 2016) or any other externally imposed capital requirements, except for those mandated by the Ministry of Finance.
(e) Accounting classifications and fair values Determination of fair values Financial assets at fair value through profit and loss and financial assets available-for-sale The fair value of financial instruments that are not traded in an active market is determined by using valuation techniques.

The Group and the Authority uses a variety of methods and makes assumptions that are based on market conditions existing at each reporting date.
Other techniques, such as estimated discounted cash flows, are used to determine fair value for the remaining financial instruments.

The fair value of the quoted unit trusts is based on the market bid price.

As the fund is not listed in an active market, these instruments are included in Level 2.

The fair value of unquoted unit trusts is based on realisation price provided by the administrator of those unit trusts.

These instruments are included in Level 3.


Other financial assets and liabilities The carrying amounts of trade and other receivables, trade and other payables and amount due to/from a subsidiary are assumed to approximate their fair values because of the short period to maturity.

Fair value hierarchy The table below presents the fair value measurements for financial assets and financial liabilities, by the levels in the fair value hierarchy based on the inputs to valuation techniques.
The different levels are defined as follows: (i) quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1); (ii) inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e.

prices) or indirectly (i.e.

derived from prices) (Level 2); and (iii) inputs for the asset or liability that are not based on observable market data (unobservable inputs) (Level 3).
FS51 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 Valuation technique and key unobservable input The following is a list of the valuation techniques and the key unobservable inputs used in the determination of fair value of the available-for-sale investments and financial assets at fair value through profit and loss.
Valuation technique Inter-relationship between significant unobservable inputs and fair value measurement The estimated fair value would decrease if: Valuation of recent acquisition • valuation of recent acquisition consideration was consideration lower; Valuation of realisation price • valuation of realisation price was lower Management considers that changing one or more of the significant unobservable inputs used to other reasonably possible alternative assumptions would not result in a significant change in the estimated fair value.
Key unobservable inputs Key unobservable inputs correspond to: • Fund manager’s judgement with regard to the assumption that the recent acquisition consideration are reflective of fair value of investment.

• Fund manager’s assessment that there are no major changes in the business and market environment that would impact the value of the investment materially.

• Fund manager’s judgement with regard to the realisation price used in determining the value of unit trust.
FS52 The carrying amounts and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy are as follows.

It does not include fair value information for financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value.
Info-communications Media Development Authority Financial statements Year ended 31 March 2018 Note Loans and receivables $’000 Carrying amount Designated at fair value $’000 Other financial liabilities $’000 Available -for-sale $’000 Fair value Total $’000 Level 1 $’000 Level 2 $’000 Level 3 $’000 Total $’000 Group 31 March 2018 Assets Financial assets measured at fair value Financial asset at fair value through profit or loss Financial assets not measured at fair value Cash and cash equivalents Trade and other receivables * Liabilities Financial liabilities not measured at fair value Trade and other payables * excludes prepayments 9 – – 127,433 – 127,433 – 49,367 78,066 127,433 8 1,441,540 58,342 10 1,499,882 – – – 14 – 92,613 – – – – – 1,441,540 58,342 – – 1,499,882 – 92,613 FS53 Note Loans and receivables $’000 Group 31 March 2017 Assets Financial assets measured at fair value Available-for-sale financial asset Financial asset at fair value through profit or loss 7 9 – – – Financial assets not measured at fair value Cash and cash equivalents Trade and other receivables * Liabilities Financial liabilities not measured at fair value Trade and other payables * excludes prepayments 8 1,121,475 160,764 10 1,282,239 14 – 110,395 Carrying amount Designated at fair value $’000 Other financial liabilities $’000 Available -for-sale $’000 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 Fair value Total $’000 Level 1 $’000 Level 2 $’000 Level 3 $’000 Total $’000 – – – – – –
 – 122,551 122,551 763 – 763 763 122,551 123,314 – – – 763 763 46,937 75,614 122,551 – – – – – 1,121,475 – 160,764 – 1,282,239 – 110,395 FS54 Note Loans and receivables $’000 Carrying amount Designated at fair value $’000 Other financial liabilities $’000 Available -for-sale $’000 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 Fair value Total $’000 Level 1 $’000 Level 2 $’000 Level 3 $’000 Total $’000 Authority 31 March 2018 Assets Financial assets measured at
 fair value Financial asset at fair value through profit or loss Financial assets not measured at fair value Cash and cash equivalents Trade and other receivables * Amount due from a subsidiary Liabilities Financial liabilities not measured at fair value Trade and other payables Amount due to a subsidiary * excludes prepayments 9 – – 127,433 – – 127,433 – 49,367 78,066 127,433 8 1,428,335 58,262 10 267 1,486,864 – – – – 14 – – – 91,410 10,000 101,410 – – – – – – – – 1,428,335 58,262 – 267 – – 1,486,864 – – – 91,410 10,000 101,410 FS55 Note Loans and receivables $’000 Authority 31 March 2017 Assets Financial assets measured at fair value Available-for-sale financial asset Financial asset at fair value through profit or loss 7 9 – – – Financial assets not measured at fair value Cash and cash equivalents Trade and other receivables * Amount due from a subsidiary Liabilities Financial liabilities not measured at fair value Trade and other payables Amount due to a subsidiary * excludes prepayments 8 1,109,278 160,664 10 700 1,270,642 14 – – – 109,446 10,000 119,446 Carrying amount Designated at fair value $’000 Other financial liabilities $’000 Available -for-sale $’000 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 Fair value Total $’000 Level 1 $’000 Level 2 $’000 Level 3 $’000 Total $’000 – – – – – – – – 122,551 122,551 763 – 763 763 122,551 123,314 – – – 763 763 46,937 75,614 122,551 – – – – – – – – 1,109,278 160,664
 – – 700 – 1,270,642 – – – 109,446 10,000 119,446 FS56 Info-communications Media Development Authority Financial statements Year ended 31 March 2018 29 Subsequent event On 23 April 2018, the Authority issued 1,627,000 shares at $1 per share for the development budget.
The shares issued have the same rights as the existing shares (Note 11).

FS57 52 10 PASIR PANJANG ROAD #03-01 MAPLETREE BUSINESS CITY SINGAPORE 117438 EMPOWERING POSSIBILITES WITH A SMILE Annual Report 2017/18INFOCOMM MEDIA DEVELOPMENT AUTHORITY02INFOCOMM MEDIA DEVELOPMENT AUTHORITYEMPOWERING POSSIBILITIES WITH A SMILE Annual Report 2017/18