Phua Boon Huat, newly elected president of the Singapore Furniture Industries Council
The Singapore Furniture Industries Council (SFIC) has announced the office bearers of the 2020/2022 Executive Committee, as well as Phua Boon Huat’s appointment as its new president.
An experienced industry veteran and Director of AlphaLeap Consulting Pte Ltd, Phua has taken over the helm at the SFIC from Mark Yong, Executive Director of Ewins Pte Ltd, who served two full terms (totalling four years) as SFIC’s President.
One of SFIC’s former Vice Presidents, Phua has been a member of the council’s Executive Committee since 2010 and saw the successful implementation of several key council initiatives. He brings with him a wealth of knowledge and deep experience in the global furniture markets. Prior to starting his management consultancy focussing on partnering companies (especially within the furniture ecosystem) to develop or improve their macro business strategies, he has accumulated more than a decade’s experience in the furniture manufacturing sector.
Thanking his predecessor, who has contributed very significantly to the shaping of SFIC as one of leading trade associations in Singapore, Phua said: “My vision for the next two years would be for the industry to continue on the path of transformation; with a greater emphasis on product and capability innovation. With a new generation of tech-savy millennial customers, unfettered access to global online marketplaces and entrenched social media habits, we need to evolve beyond being mere furniture providers to becoming lifestyle brands that resonate with the new economy consumers.”
“To manage growing complexity of consumer demand and cross border transactions of goods and services, the understanding and adoption of new supply chain capabilities and data analytics into companies’ business processes are important areas of focus,” Phua explained.
Phua’s appointment comes against the backdrop of a challenging economy with much uncertainty – at least in the coming year. With global travel restrictions in place, many industry players were unable to participate in traditional channels like furniture exhibitions and marketing trips to get closer to businesses and trade customers.
Industry players who have managed to thrive during this difficult period achieved success as a result of embracing and adopting digitalisation to achieve speed-tomarket and agility in the marketplace.
A firm believer in technology innovation, Phua is also Chairman of Creativ-Space, a Singapore furniture industry B2B initiative supported by Enterprise Singapore. Created in October 2020, this latest SFIC digital initiative was borne out of the industry’s goal to take homegrown furniture expertise, capability and know-how into the region and internationally.
With Phua’s appointment, the council is confident that the industry will continue to reach new heights in its transformation journey.